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-   -   Apple Inc is now richer than the US federal government (https://www.musicbanter.com/current-events-philosophy-religion/57796-apple-inc-now-richer-than-us-federal-government.html)

The Monkey 07-29-2011 02:50 PM
Apple Inc is now richer than the US federal government
 
Quote:
Apple now has more cash to spend than the United States government.

Latest figures from the US Treasury Department show that the country has an operating cash balance of $73.7bn (£45.3bn).

Apple's most recent financial results put its reserves at $76.4bn.
BBC News - Apple holding more cash than USA

God damn. If apple chose to give all that spare money out as bonuses to all its employees, it would be 1.6 million dollars per person.

Janszoon 07-29-2011 02:53 PM
That's not saying much though. At this point I'm probably richer than the federal government.

OccultHawk 07-29-2011 03:11 PM
My debt is only in the thousands.

Janszoon 07-29-2011 03:20 PM
Quote:
Originally Posted by OccultHawk (Post 1090192)
My debt is only in the thousands.
Exactly.

Burning Down 07-29-2011 03:26 PM
Quote:
Originally Posted by Janszoon (Post 1090191)
That's not saying much though. At this point I'm probably richer than the federal government.
Everyone is richer than the US government. Aren't they like 3 trillion dollars in debt, mostly to China? Which means they have no money at all. Not one cent. Yikes. I thought my total amount of student loans was bad.

GuitarBizarre 07-29-2011 04:11 PM
Quote:
Originally Posted by Burning Down (Post 1090197)
Everyone is richer than the US government. Aren't they like 3 trillion dollars in debt, mostly to China? Which means they have no money at all. Not one cent. Yikes. I thought my total amount of student loans was bad.
Try about 4 times that amount.

hip hop bunny hop 07-29-2011 04:15 PM
Quote:
Everyone is richer than the US government. Aren't they like 3 trillion dollars in debt, mostly to China? Which means they have no money at all. Not one cent. Yikes. I thought my total amount of student loans was bad.
The largest holder of US Treasury Bonds is actually the Japanese Government.

Anyways, you can't compare your personal debt to that of the USA Government; amongst other items, you aren't in control of the world's reserve currency. Further, it's in America's interest - at the point in time - to increase inflation.

Janszoon 07-29-2011 04:52 PM
Quote:
Originally Posted by hip hop bunny hop (Post 1090211)
Anyways, you can't compare your personal debt to that of the USA Government; amongst other items, you aren't in control of the world's reserve currency.
That's what you think.

Burning Down 07-29-2011 05:28 PM
Quote:
Originally Posted by hip hop bunny hop (Post 1090211)
The largest holder of US Treasury Bonds is actually the Japanese Government.

Anyways, you can't compare your personal debt to that of the USA Government; amongst other items, you aren't in control of the world's reserve currency. Further, it's in America's interest - at the point in time - to increase inflation.
I don't even live in the States but I do know that the US government owes a significant amount of money to Canada.

[MERIT] 07-29-2011 07:05 PM
The government should issue stock like an IPO, that way citizens could own it and actually have a say in how it is run.


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