Apple Has More Cash Than the U.S. Government

#Money

Fri, Jul 29th, 2011 10:00 by capnasty NEWS

According to Canada's Financial Post, as of yesterday, the United States Government-- once considered the most powerful on Earth -- has less spending money than Steve Jobs' company, Apple.

From the article:

As Republicans and Democrats continue to work towards a compromise to the country's debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.

Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.

If this sounds crazy, it's probably because the crazies are running the show.

  977

 

You may also be interested in:

"Chinese factory jobs may thus be poised to evaporate at an even faster pace than has been the case in the United States."
Club of the Wealthy
The Most Patriotic Thing You Can Do
"What's morally repugnant in one country is accepted business practices in another": Why Apple Manufactures in China
The Last 2,000 Years of the World's Economies Shown in One Simple Graph