Apple holding more cash than USA

**OfficerFarva** · 07-29-2011, 06:56 PM

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.

The US House of Representatives is due to vote on a bill to raise the country's debt ceiling, allowing it to borrow more money to cover spending commitments.

If it fails to extend the current limit of $14.3 trillion dollars, the federal government could find itself struggling to make payments, and risks the loss of its AAA credit rating.

The United States is currently spending around $200bn more than it collects in revenue every month.

Apple, on the other hand, is making money hand over fist, according to its financial results.

In the three months ending 25 June, net income was 125% higher than a year earlier at $7.31bn.
Spending spree

With more than $75bn either sitting in the bank or in easily accessible assets, there has been enormous speculation about what the company will do with the money.

"Apple keeps its cards close to its chest," said Daniel Ashdown, an analyst at Juniper Research.

Industry watchers believe that it is building up a war chest to be used for strategic acquisitions of other businesses, and to secure technology patents.

Bookstore Barnes and Noble and the online movie site Netflix have both been tipped as possible targets, said Mr Ashdown.

The company may also have its eye on smaller firms that develop systems Apple might want to add to its devices, such as voice recognition.

Apple dipped into some of its reserves recently when it teamed-up with Microsoft to buy a batch of patents from defunct Canadian firm Nortel.

The bidding consortium shelled out $4.5bn for more than 6,000 patents.

BBC News - Apple holding more cash than USA

**D-Lats** · 07-29-2011, 07:22 PM

Wow thats alot of ipods and i phones!!

**jagbender** · 07-29-2011, 07:42 PM

Hey Steve can you help a country out???

**GearsMcGilf** · 07-29-2011, 08:44 PM

Somehow, they actually have more coming in than going out. Sounds crazy. Prolly has sum10 to do with Apple managing it's money more carefully than the fed govt manages your money.

**bigcruz** · 07-29-2011, 10:00 PM

Originally Posted by GearsMcGilf

Somehow, they actually have more coming in than going out. Sounds crazy. Prolly has sum10 to do with Apple managing it's money more carefully than the fed govt manages your money.

Word

**Dale Mabry** · 07-30-2011, 05:45 AM

That's because they actually make and sell stuff, which our country does neither.

**DOMS** · 07-30-2011, 06:12 AM

Originally Posted by Dale Mabry

That's because they actually make and sell stuff, which our country does neither.

Right...

**GearsMcGilf** · 07-30-2011, 10:24 AM

Yep. We're so lucky to have free trade.

**maxxb** · 07-30-2011, 11:54 AM

Originally Posted by Dale Mabry

That's because they actually make and sell stuff, which our country does neither.

lol....... joke?

**irish_2003** · 07-30-2011, 12:00 PM

it's time for the 51% that don't pay to start paying their fair share......leave the tax incentive to become rich alone.....f'n liberals, poor people, entitlement junkies killed the nation and economy.......and their too hard headed and too stupid (although the can sure copy and paste and run up student loans for degrees) to know it

it's time to stop them from breeding, talking, voting, or taking up space

**GearsMcGilf** · 07-30-2011, 12:23 PM

But Keynesian ecomomics is working so well for us. Look at the summer of recovery we had last year. Or, was that another political slogan?

All we need is some more spending, higher taxes on the evil corps, maybe some heavier EPA regulation, and things will turn around. The record shows that the economy always improves under left wing methodology, from Carter to Obama, to the EU. Any day now, these policies are gonna get the economy booming again.

**Curt James** · 07-30-2011, 12:26 PM

Originally Posted by GearsMcGilf

Somehow, they actually have more coming in than going out. Sounds crazy. Prolly has sum10 to do with Apple managing it's money more carefully than the fed govt manages your money.

Plus, tell me again what the U.S. Government manufactures which people would want to buy.

Postage stamps?

I'd say property or the country itself, but hasn't the U.S. already given most of that away?

**Chubby** · 07-30-2011, 12:54 PM

Originally Posted by irish_2003

it's time for the 51% that don't pay to start paying their fair share......leave the tax incentive to become rich alone.....f'n liberals, poor people, entitlement junkies killed the nation and economy.......and their too hard headed and too stupid (although the can sure copy and paste and run up student loans for degrees) to know it

it's time to stop them from breeding, talking, voting, or taking up space

"looking at one's won mistake is the beginning of a process of universal understanding."
~Doli lama

**Curt James** · 07-30-2011, 01:04 PM

Originally Posted by Dale Mabry

That's because they actually make and sell stuff, which our country does neither.

Originally Posted by maxxb

lol....... joke?

I failed like Dale failed.

...

Unless he was being sarcastic. Assumed all the U.S. manunfactured was Starbucks. And even they're failing now? Wait. How is Starbucks doing?

Originally Posted by Curt James

Plus, tell me again what the U.S. Government manufactures which people would want to buy.

Postage stamps?

I'd say property or the country itself, but hasn't the U.S. already given most of that away?

Originally Posted by DOMS

Right...

Oh.

So, wtf?

**Curt James** · 07-30-2011, 01:07 PM

From the article: "Main exports are: machinery and equipment, industrial supplies, non-auto consumer goods, motor vehicles and parts, aircraft and parts, food, feed and beverages."

The U.S. makes arms, too. EVERYONE WANTS ARMS!

**LAM** · 07-30-2011, 01:40 PM

Originally Posted by GearsMcGilf

But Keynesian ecomomics is working so well for us. Look at the summer of recovery we had last year. Or, was that another political slogan?

please explain why EVERY single country in the OECD that adopts supply-side economics sees a decline in the GDP every single year there after....

**maniclion** · 07-30-2011, 02:11 PM

How much taxes does Apple not pay is the question, their are a lot of companies that could start their own nations, yet we keep giving them loopholes......

**maniclion** · 07-30-2011, 02:38 PM

Originally Posted by irish_2003

it's time for the 51% that don't pay to start paying their fair share......leave the tax incentive to become rich alone.....f'n liberals, poor people, entitlement junkies killed the nation and economy.......and their too hard headed and too stupid (although the can sure copy and paste and run up student loans for degrees) to know it

it's time to stop them from breeding, talking, voting, or taking up space

You are complaining about chump change a few thousand dollars from wage workers isn't going to make a dimple in the debt; corporations paying a larger chunk of their taxes would. By the way isn't it the conservatives who always bitch about raising taxes....

Who are the rich going to underpay to do the menial labor they feel they are too good to do if we get rid of the poor? I have known a lot of rich people who like to pay laborers under the table cause they are too cheap, and that's the flaw in trickle down most rich people got that way because they are cheap and frugal, they don't want to pay a worker minimum wage so what makes you think they are sending the government their fair share of taxes?

**LAM** · 07-30-2011, 06:50 PM

the vast majority of these far right conservatives only know rural America. most never leave the small towns they grew up in or they go from small town to small town or from one rural area in one state to another.

they don't understand the economic difference when there are 20-40 people per square mile and 500-1200.

and they certainly don't know about the differences in wages and taxes from the metro to non-metro areas and employment and the cost of living. I'm sure very few or none of them know what's its' like to pay $1,400-$2,000 a month rent for a one bedroom apartment and everything else on top of that.

**Zaphod** · 07-30-2011, 10:47 PM

Originally Posted by irish_2003

it's time for the 51% that don't pay to start paying their fair share......leave the tax incentive to become rich alone.....f'n liberals, poor people, entitlement junkies killed the nation and economy.......and their too hard headed and too stupid (although the can sure copy and paste and run up student loans for degrees) to know it

it's time to stop them from breeding, talking, voting, or taking up space

What has killed the nation is the stupid fucks that voted for the other stupid fucks that are and have been in congress for the last few decades.

You seriously need a tax incentive to become rich? That's fucking ridiculous. Someone actually says "Shit! Why bother earning $5 million a year if I have to pay 25% like everybody else? I'll just keep it at minimum wage."

**Curt James** · 07-30-2011, 11:29 PM

Originally Posted by LAM

the vast majority of these far right conservatives only know rural America. most never leave the small towns they grew up in or they go from small town to small town or from one rural area in one state to another.

they don't understand the economic difference when there are 20-40 people per square mile and 500-1200.

and they certainly don't know about the differences in wages and taxes from the metro to non-metro areas and employment and the cost of living. I'm sure very few or none of them know what's its' like to pay $1,400-$2,000 a month rent for a one bedroom apartment and everything else on top of that.

I say screw that. If someone is making $200K per year, sure, but I'd sooner move than pay that lunatic rent.

**LAM** · 07-31-2011, 12:26 AM

depending on the metro area that's about average for a 1 bedroom. I was paying $2,200 a month in san jose in 2000 for a one bedroom plus all utilities, etc.

I was in NYC for a bachelor party in july 2000 went to visit one of my old navy buddies he was paying like $1,500 for 400 sq ft.

**lnvanry** · 07-31-2011, 11:14 AM

Originally Posted by Dale Mabry

That's because they actually make and sell stuff, which our country does neither.

Dude, Apple make little to nothing

Foxconn is their manufacturer....Apple designs and then places purchase orders under build to print manufacturing licensing agreements (MLAs). Apple doesn't make a whole lot.

**lnvanry** · 07-31-2011, 11:18 AM

Originally Posted by Curt James

From the article: "Main exports are: machinery and equipment, industrial supplies, non-auto consumer goods, motor vehicles and parts, aircraft and parts, food, feed and beverages."

The U.S. makes arms, too. EVERYONE WANTS ARMS!

the defense sector is one of the few industries where the overwhelming majority of the products are designed, manufactured, assembled, inspected, and sold by the US parent company. It cannot be outsourced except for the raw material in some cases (ie precious metals, rare earths, etc)

disclosure: I work in the defense sector

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