“Steve Jobs is now more liquid than Uncle Sam,” Matt Hartley reports for The Financial Post. “Tt became a fact as of Thursday afternoon — the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.”
“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,” Hartley reports. “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.”
Hartley reports, “Apple’s market capitalization currently stands at US$363.25-billion, making it the second largest company on the planet, after Exxon Mobil.”
Full article here.
[Thanks to MacDailyNews Reader “MacDust” for the heads up.]
congress voted to raise the debt ceiling SEVEN TIMES under bush. boehner, cantor and mcconnell all voted for it.
think about that for a second.
Not under threat of downgrades.
Hmm. From reading these comments one should easily surmise that Conservatives are stupid and Liberals are crazy, or possibly it’s the other way around.
Everyone wants to pick their favorite detail to describe the whole picture in terms of a predetermined opinion.
Asinine.
Here’s to the crazy ones…
Apple is the only company with zero debt.
along with all the companies that went bankrupt to clear their debt…
All those ppl who whined about Apple’s fiscal policies — Apple has been correct. Save cash, don’t be in debt, invest in bettering your products. Sane common sense practices. This is the way to stay solvent and not go broke. Basic. If only everybody else were this smart.
Nice headline, but complete and total bullshit.
Only the US can print Dollars- Apple has to earn them. The Federal Reserve can create money out of thin air without the consent of any elected official or body of officials.
As to the faux crisis, read The Shock Doctrine and you will understand what is going on.
Well, what can you say? ……..
JOBS FOR PRESIDENT 2012!!
And the slogans? Oh boy, the mouth waters!!
“More Jobs good for the economy!”
“Why create jobs when we already have the best one!”
“An Apple a day keeps the default away!”
“He’ll do the Jobs!”
“We need Jobs, jobs, jobs!”
Wasn’t at least one of the wars a bipartisan effort?
The 1st intelligent posting.
Apple should buy Dell and give its investors their money back just to despite Michael Dell. Apple simply could do this on a weeks worth of interest.