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Breaking News Home | All | Religion | Society | Tech | Choice | Fridays | SA Newsroom
FRONT PAGE  |  8/17/2017
SATURDAY, JUL 30, 2011  |  4 comments
Apple Now Has More Cash Than The U.S. Government
Here's something to keep in mind as you follow this evening's congressional debate over the debt ceiling.

According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday.

Apple's last earnings report showed that the company had $76.2 billion in cash and marketable securities at the end of June.

In other words, the world's largest tech company has more cash than the world's largest sovereign government. ...


CLICK HERE to Read Entire Article
www.businessinsider.com

Response to economic crisis?
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· Page 1 ·  Found: 4 user comment(s)
News Item7/30/11 6:25 PM
Donut Disturbed  Find all comments by Donut Disturbed
Mike wrote:
Does raising the debt ceiling, or printing unbacked "cash" fit into this formula?
Raising a ceiling does not require bookkeeping as there is no transaction.
Actually issuing debt would be transaction.

Cash has to be accounted for whether it is issued by a private corporation or by a democratically accountable bank.

4

News Item7/30/11 5:57 PM
Mike | New York  Find all comments by Mike
Donut Disturbed wrote:
Article does not compare like with like. It is comparing Donuts and Apples.
Operating cash balance v Cash and Marketable Securities.
That said, it is blindingly obvious that if most of the world's governments are in debt up to their eyeballs that other investors (such as Apple) have purchased the government issued marketable securities. There is no shortage of wealth around the globe equal and opposite to the debts.
Basic double entry bookkeeping tells us that every dollar of creditor liability is someone else's dollar of debtor asset.
Does raising the debt ceiling, or printing unbacked "cash" fit into this formula?
3

News Item7/30/11 3:37 PM
Donut Disturbed  Find all comments by Donut Disturbed
Article does not compare like with like. It is comparing Donuts and Apples.

Operating cash balance v Cash and Marketable Securities.

That said, it is blindingly obvious that if most of the world's governments are in debt up to their eyeballs that other investors (such as Apple) have purchased the government issued marketable securities. There is no shortage of wealth around the globe equal and opposite to the debts.

Basic double entry bookkeeping tells us that every dollar of creditor liability is someone else's dollar of debtor asset.

2

News Item7/30/11 3:05 PM
Rafael | chicago  Contact via emailFind all comments by Rafael
Lol maybe they should get in more debt asking for a loan from apple and have apple run this country maybe they can get us out debt and run this country better than our presidents this is funny
1
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