Apple is now more liquid than the United States government, the Financial Post reports.
As the government struggles to resolve the debt ceiling debate, the operating balance in Washington is at US$73.768 billion and falling.
Meanwhile, Apple has US$75.876 billion – and that number isn’t going anywhere but up as the company continues to break records and make its competitors look bad.
You can check the treasury numbers yourself here and the Apple numbers from the most recent quarterly earnings report here.
Apple’s lead over the government is more pronounced than it would seem if you treat cash as more valuable than credit. Washington’s “operating balance” refers to the amount of money it can spend before it hits the debt ceiling.
The phrase “richer than a small country” is not uncommonly heard, but this is another thing altogether. Congratulations Steve Jobs — you’re now more powerful than one of the largest nations on Earth.
You mean… In millions right? And in the tens of thousands of millions? ;)
@Plinkle Yeah, totally meant to suffix those figures, fixed ;)
@Plinkle Yeah, totally meant to suffix those figures, fixed ;)
What a weird world we suddenly live in…
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very interesting topic. it is a weird world that we live in.
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Maybe we should start applying to Apple for medicare and social security.
Jobs for President ??
This sums up the problem in US economy. Outsourcing has moved many jobs abroad and immigration is challenging the remaining jobs. While this is happening, only top companies (such as Apple) and top 1% of the population is increasing their wealth. For others, the average wage has been constant since 1980.
http://pareekhjain.blogspot.com/2011/07/apple-should-invest-money-in-us-economy.html
This sums up the problem in US economy. Outsourcing has moved many jobs abroad and immigration is challenging the remaining jobs. While this is happening, only top companies (such as Apple) and top 1% of the population is increasing their wealth. For others, the average wage has been constant since 1980.
http://pareekhjain.blogspot.com/2011/07/apple-should-invest-money-in-us-economy.html
“…you’re now more powerful than one of the largest nations on Earth.”
So is power only related to the amount of wealth a person has accumulated? I don’t believe so.
I have more money than the US Government. Well I owe less…
My question is what the hell is Apple doing with SO MUCH cash? Unless they are saving to build a Bond movie/Moonraker-style space station to microwave fry all the PCs in the world, why aren’t they giving profits to shareholders, maybe they could even pay their full taxes?
God forbid, they should improve the lot of the workers in their “suicide factory”?
I find it funny that Apple’s balance is most likely held in US dollars. What happens, then, if the US defaults? What kind of asset and balance protection can you expect from a country that can’t afford to protect itself?
I say we let Steve take over, he is obviously doing something right lol. And no, I am not an Apple fanboy, have never even owned a Mac…..but im not blind and we would be much better off running our country like a successful company than the way it is now.
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Apple-Cash Richer than US Government http://bit.ly/ocQpAq
iGov
Everything would be shinny and Secure, but every time they pass a law everyone has to pay $30 or so.
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Well we know which organization is well run and which isn’t!
Oh yea we can outsource the post office from India and the military from china and we will save a lot . And the goverment will have more money than Apple… give me a break… this is a FOX news Hoax.
I bet, like many other international companies, Apple’s cash drawer is hedged across several countries, markets, and currencies.
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according bbc new reports Apple company is more richer than USA Government,Apple company is manufacturing computer related products since several decade,According to Finance department of USA Government US keeps 75 Billions Dollars cash for running expenses and Apple company keeps 77 Billion US Dollars,,,,Apple wealth more Richer than U.S. government
according bbc new reports Apple company is more richer than USA Government,Apple company is manufacturing computer related products since several decade,According to Finance department of USA Government US keeps 75 Billions Dollars cash for running expenses and Apple company keeps 77 Billion US Dollars,,,,Apple wealth more Richer than U.S. government http://www.orbitgoogle.com
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This would suggest president Obama should perhaps call Steve Jobs? Would be interesting to see WSJWD (What Steve Jobs would do) when sitting in the oval office.
LOL at iGov. This is just insane though, more than the government… REALLY?
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