U.S. economic disaster makes Apple richer than country

Discussion in 'Digital Photography' started by RichA, Jul 29, 2011.

  1. RichA

    RichA Guest

    BBC:

    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
    (£46.9bn).
    RichA, Jul 29, 2011
    #1
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  2. RichA

    ray Guest

    On Fri, 29 Jul 2011 08:59:11 -0700, RichA wrote:

    > BBC:
    >
    > 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
    > (£46.9bn).


    The U.S. government also has a 14 trillion dollar DEBT. Hell, my net
    worth is much greater than the government's since it's is negative.
    ray, Jul 29, 2011
    #2
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  3. RichA

    Mike Guest

    On 29/07/2011 11:59 AM, RichA wrote:
    > BBC:
    >
    > 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
    > (£46.9bn).
    >

    I bet Apple doesn't owe $ Trillions to China either? Steve Jobs is
    going to buy Canada and rename it iCanada.

    Mike
    Mike, Jul 29, 2011
    #3
  4. On 29/07/2011 21:11, Mike wrote:
    > On 29/07/2011 11:59 AM, RichA wrote:
    >> BBC:
    >>
    >> 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
    >> (£46.9bn).
    > >

    > I bet Apple doesn't owe $ Trillions to China either? Steve Jobs is going
    > to buy Canada and rename it iCanada.
    >


    Or they'll re-issue Obama to be the first iPresident...


    --
    Andrew Brydon
    Life is just the beta-version of death
    Andrew Brydon, Jul 30, 2011
    #4
  5. RichA

    Ray Fischer Guest

    ray <> wrote:
    >On Fri, 29 Jul 2011 08:59:11 -0700, RichA wrote:
    >> BBC:
    >>
    >> 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
    >> (£46.9bn).

    >
    >The U.S. government also has a 14 trillion dollar DEBT. Hell, my net
    >worth is much greater than the government's since it's is negative.


    Whining about debts while ignoring assets is a fool's game.

    --
    Ray Fischer | Mendocracy (n.) government by lying
    | The new GOP ideal
    Ray Fischer, Jul 30, 2011
    #5
  6. RichA

    Ray Fischer Guest

    RichA <> wrote:
    >BBC:
    >
    >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
    >(£46.9bn).


    Yeah, but Apple doesn't own even a tiny fraction of the federal
    government's assets.

    --
    Ray Fischer | Mendocracy (n.) government by lying
    | The new GOP ideal
    Ray Fischer, Jul 30, 2011
    #6
  7. RichA

    ray Guest

    On Fri, 29 Jul 2011 21:11:01 -0500, Rich wrote:

    > ray <> wrote in news::
    >
    >> On Fri, 29 Jul 2011 08:59:11 -0700, RichA wrote:
    >>
    >>> BBC:
    >>>
    >>> 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
    >>> (£46.9bn).

    >>
    >> The U.S. government also has a 14 trillion dollar DEBT. Hell, my net
    >> worth is much greater than the government's since it's is negative.
    >>
    >>

    > Well, technically you all owe about $500k to the Chinese.


    No, we don't owe the Chinese 150 trillion dollars (500k times 300 million
    population).
    ray, Jul 30, 2011
    #7
  8. RichA

    ray Guest

    On Sat, 30 Jul 2011 19:46:19 +0000, Ray Fischer wrote:

    > ray <> wrote:
    >>On Fri, 29 Jul 2011 08:59:11 -0700, RichA wrote:
    >>> BBC:
    >>>
    >>> 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
    >>> (£46.9bn).

    >>
    >>The U.S. government also has a 14 trillion dollar DEBT. Hell, my net
    >>worth is much greater than the government's since it's is negative.

    >
    > Whining about debts while ignoring assets is a fool's game.


    As is viewing assets and ignoring debts.
    ray, Jul 30, 2011
    #8
  9. RichA

    ray Guest

    On Sat, 30 Jul 2011 15:22:47 -0700, Savageduck wrote:

    > On 2011-07-30 12:47:25 -0700, (Ray Fischer) said:
    >
    >> RichA <> wrote:
    >>> BBC:
    >>>
    >>> 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
    >>> (£46.9bn).

    >>
    >> Yeah, but Apple doesn't own even a tiny fraction of the federal
    >> government's assets.

    >
    > Just start with the 10 Nimitz Class carriers and you have Apple's $76.4B
    > covered. Add the aircraft for each and that figure is eclipsed.


    So, you're advocating selling them all?
    ray, Jul 31, 2011
    #9
  10. RichA

    John A. Guest

    On Sat, 30 Jul 2011 18:24:34 -0700, Savageduck
    <savageduck1@{REMOVESPAM}me.com> wrote:

    >On 2011-07-30 17:27:38 -0700, ray <> said:
    >
    >> On Sat, 30 Jul 2011 15:22:47 -0700, Savageduck wrote:
    >>
    >>> On 2011-07-30 12:47:25 -0700, (Ray Fischer) said:
    >>>
    >>>> RichA <> wrote:
    >>>>> BBC:
    >>>>>
    >>>>> 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
    >>>>> (£46.9bn).
    >>>>
    >>>> Yeah, but Apple doesn't own even a tiny fraction of the federal
    >>>> government's assets.
    >>>
    >>> Just start with the 10 Nimitz Class carriers and you have Apple's $76.4B
    >>> covered. Add the aircraft for each and that figure is eclipsed.

    >>
    >> So, you're advocating selling them all?

    >
    >No, I did not say that.
    >I am just pointing out one group of Federal assets which are equal to,
    >or exceed Apple's cash reserves.
    >
    >I could have reduced that to a smaller item, the F-22 fleet, where the
    >program cost is $65B, or about $339M(inclusive of development costs)
    >per F-22. This is the state of the art fighter, it is just a pity the
    >darn thing is so costly.
    >...and Federal Law precludes the F-22 from export sales.
    >
    >Then there is a bigger item. The F-35 JSF(Joint Strike Fighter) is an
    >international collaborative effort,(UK, Canada, Denmark, The
    >Netherlands, Germany, Belgium, Italy) with some customers outside the
    >original development nations (Poland, Hungary, Switzerland, Israel),
    >and depending on variant, ranges between $122M-$183.5M per plane.
    >
    >The US alone is planning on 2,443 aircraft for the USAF, USN, & USMC
    >with a DOD program cost of $323B, the most expensive defense program
    >ever.
    >Now there is an asset acquisition to discuss, considering we are going
    >to have to borrow the money for it!


    And then there's the gold reserve. It's at, what, like $300+B at spot
    prices? (Of course dumping even part on the market would drive gold
    prices down.)
    John A., Jul 31, 2011
    #10
  11. RichA

    PeterN Guest

    On 7/30/2011 9:48 PM, John A. wrote:
    > On Sat, 30 Jul 2011 18:24:34 -0700, Savageduck
    > <savageduck1@{REMOVESPAM}me.com> wrote:
    >
    >> On 2011-07-30 17:27:38 -0700, ray<> said:
    >>
    >>> On Sat, 30 Jul 2011 15:22:47 -0700, Savageduck wrote:
    >>>
    >>>> On 2011-07-30 12:47:25 -0700, (Ray Fischer) said:
    >>>>
    >>>>> RichA<> wrote:
    >>>>>> BBC:
    >>>>>>
    >>>>>> 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
    >>>>>> (£46.9bn).
    >>>>>
    >>>>> Yeah, but Apple doesn't own even a tiny fraction of the federal
    >>>>> government's assets.
    >>>>
    >>>> Just start with the 10 Nimitz Class carriers and you have Apple's $76.4B
    >>>> covered. Add the aircraft for each and that figure is eclipsed.
    >>>
    >>> So, you're advocating selling them all?

    >>
    >> No, I did not say that.
    >> I am just pointing out one group of Federal assets which are equal to,
    >> or exceed Apple's cash reserves.
    >>
    >> I could have reduced that to a smaller item, the F-22 fleet, where the
    >> program cost is $65B, or about $339M(inclusive of development costs)
    >> per F-22. This is the state of the art fighter, it is just a pity the
    >> darn thing is so costly.
    >> ...and Federal Law precludes the F-22 from export sales.
    >>
    >> Then there is a bigger item. The F-35 JSF(Joint Strike Fighter) is an
    >> international collaborative effort,(UK, Canada, Denmark, The
    >> Netherlands, Germany, Belgium, Italy) with some customers outside the
    >> original development nations (Poland, Hungary, Switzerland, Israel),
    >> and depending on variant, ranges between $122M-$183.5M per plane.
    >>
    >> The US alone is planning on 2,443 aircraft for the USAF, USN,& USMC
    >> with a DOD program cost of $323B, the most expensive defense program
    >> ever.
    >> Now there is an asset acquisition to discuss, considering we are going
    >> to have to borrow the money for it!

    >
    > And then there's the gold reserve. It's at, what, like $300+B at spot
    > prices? (Of course dumping even part on the market would drive gold
    > prices down.)


    Try 7.5 Trillion and climbing.

    <http://en.wikipedia.org/wiki/Gold_reserve>

    --
    Peter
    PeterN, Jul 31, 2011
    #11
  12. RichA

    PeterN Guest

    On 7/30/2011 10:12 PM, Rich wrote:
    > Savageduck<savageduck1@{REMOVESPAM}me.com> wrote in
    > news:2011073018243497157-savageduck1@REMOVESPAMmecom:
    >
    >> On 2011-07-30 17:27:38 -0700, ray<> said:
    >>
    >>> On Sat, 30 Jul 2011 15:22:47 -0700, Savageduck wrote:
    >>>
    >>>> On 2011-07-30 12:47:25 -0700, (Ray Fischer) said:
    >>>>
    >>>>> RichA<> wrote:
    >>>>>> BBC:
    >>>>>>
    >>>>>> 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
    >>>>>> (£46.9bn).
    >>>>>
    >>>>> Yeah, but Apple doesn't own even a tiny fraction of the federal
    >>>>> government's assets.
    >>>>
    >>>> Just start with the 10 Nimitz Class carriers and you have Apple's
    >>>> $76.4B covered. Add the aircraft for each and that figure is
    >>>> eclipsed.
    >>>
    >>> So, you're advocating selling them all?

    >>
    >> No, I did not say that.
    >> I am just pointing out one group of Federal assets which are equal to,
    >> or exceed Apple's cash reserves.
    >>
    >> I could have reduced that to a smaller item, the F-22 fleet, where the
    >> program cost is $65B, or about $339M(inclusive of development costs)
    >> per F-22. This is the state of the art fighter, it is just a pity the
    >> darn thing is so costly.
    >> ...and Federal Law precludes the F-22 from export sales.
    >>
    >> Then there is a bigger item. The F-35 JSF(Joint Strike Fighter) is an
    >> international collaborative effort,(UK, Canada, Denmark, The
    >> Netherlands, Germany, Belgium, Italy) with some customers outside the
    >> original development nations (Poland, Hungary, Switzerland, Israel),
    >> and depending on variant, ranges between $122M-$183.5M per plane.
    >>
    >> The US alone is planning on 2,443 aircraft for the USAF, USN,& USMC
    >> with a DOD program cost of $323B, the most expensive defense program
    >> ever.
    >> Now there is an asset acquisition to discuss, considering we are going
    >> to have to borrow the money for it!
    >>

    >
    > America in 1979 (the Carter horror years) was in pretty bad shape (but
    > not like now) they made a bad movie called, "Americathon" where they ran
    > a huge telethon to save the country from bankruptcy.


    You didn't answer the Duck's question.

    --
    Peter
    PeterN, Jul 31, 2011
    #12
  13. RichA

    Ray Fischer Guest

    ray <> wrote:
    >On Sat, 30 Jul 2011 15:22:47 -0700, Savageduck wrote:
    >
    >> On 2011-07-30 12:47:25 -0700, (Ray Fischer) said:
    >>
    >>> RichA <> wrote:
    >>>> BBC:
    >>>>
    >>>> 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
    >>>> (£46.9bn).
    >>>
    >>> Yeah, but Apple doesn't own even a tiny fraction of the federal
    >>> government's assets.

    >>
    >> Just start with the 10 Nimitz Class carriers and you have Apple's $76.4B
    >> covered. Add the aircraft for each and that figure is eclipsed.

    >
    >So, you're advocating selling them all?


    Are you illiterate or trolling?

    --
    Ray Fischer | Mendocracy (n.) government by lying
    | The new GOP ideal
    Ray Fischer, Jul 31, 2011
    #13
  14. RichA

    John A. Guest

    On Sat, 30 Jul 2011 19:37:48 -0700, Savageduck
    <savageduck1@{REMOVESPAM}me.com> wrote:

    >On 2011-07-30 19:12:36 -0700, Rich <> said:
    >
    >> Savageduck <savageduck1@{REMOVESPAM}me.com> wrote in
    >> news:2011073018243497157-savageduck1@REMOVESPAMmecom:
    >>
    >>> On 2011-07-30 17:27:38 -0700, ray <> said:
    >>>
    >>>> On Sat, 30 Jul 2011 15:22:47 -0700, Savageduck wrote:
    >>>>
    >>>>> On 2011-07-30 12:47:25 -0700, (Ray Fischer) said:
    >>>>>
    >>>>>> RichA <> wrote:
    >>>>>>> BBC:
    >>>>>>>
    >>>>>>> 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
    >>>>>>> (£46.9bn).
    >>>>>>
    >>>>>> Yeah, but Apple doesn't own even a tiny fraction of the federal
    >>>>>> government's assets.
    >>>>>
    >>>>> Just start with the 10 Nimitz Class carriers and you have Apple's
    >>>>> $76.4B covered. Add the aircraft for each and that figure is
    >>>>> eclipsed.
    >>>>
    >>>> So, you're advocating selling them all?
    >>>
    >>> No, I did not say that.
    >>> I am just pointing out one group of Federal assets which are equal to,
    >>> or exceed Apple's cash reserves.
    >>>
    >>> I could have reduced that to a smaller item, the F-22 fleet, where the
    >>> program cost is $65B, or about $339M(inclusive of development costs)
    >>> per F-22. This is the state of the art fighter, it is just a pity the
    >>> darn thing is so costly.
    >>> ...and Federal Law precludes the F-22 from export sales.
    >>>
    >>> Then there is a bigger item. The F-35 JSF(Joint Strike Fighter) is an
    >>> international collaborative effort,(UK, Canada, Denmark, The
    >>> Netherlands, Germany, Belgium, Italy) with some customers outside the
    >>> original development nations (Poland, Hungary, Switzerland, Israel),
    >>> and depending on variant, ranges between $122M-$183.5M per plane.
    >>>
    >>> The US alone is planning on 2,443 aircraft for the USAF, USN, & USMC
    >>> with a DOD program cost of $323B, the most expensive defense program
    >>> ever.
    >>> Now there is an asset acquisition to discuss, considering we are going
    >>> to have to borrow the money for it!
    >>>

    >>
    >> America in 1979 (the Carter horror years) was in pretty bad shape (but
    >> not like now) they made a bad movie called, "Americathon" where they ran
    >> a huge telethon to save the country from bankruptcy.

    >
    >What does that have to do with anything?


    Be fair, guys. The discussion was veering towards what to sell off to
    raise money, and he brought up another money-raising example.
    John A., Jul 31, 2011
    #14
  15. We have no economic disaster in the US.

    "RichA" <> wrote in message
    news:...
    BBC:

    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
    (£46.9bn).
    Pete Stavrakoglou, Aug 1, 2011
    #15
  16. RichA

    Robert Coe Guest

    On Sat, 30 Jul 2011 15:22:47 -0700, Savageduck
    <savageduck1@{REMOVESPAM}me.com> wrote:
    : On 2011-07-30 12:47:25 -0700, (Ray Fischer) said:
    :
    : > RichA <> wrote:
    : >> BBC:
    : >>
    : >> 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
    : >> (£46.9bn).
    : >
    : > Yeah, but Apple doesn't own even a tiny fraction of the federal
    : > government's assets.
    :
    : Just start with the 10 Nimitz Class carriers and you have Apple's
    : $76.4B covered. Add the aircraft for each and that figure is eclipsed.

    Maybe, but if you actually wanted to sell those carriers, you'd have to start
    moving that decimal point to the left.

    Bob
    Robert Coe, Aug 5, 2011
    #16
  17. RichA

    John Turco Guest

    RichA wrote:
    >
    > BBC:
    >
    > 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
    > (£46.9bn).



    General Electric is among the world's very largest multinational
    conglomerates, and is highly diversified.

    Its enormous, global empire encompasses myriads of commercial and
    industrial applications (jet engines, diesel-electric locomotives,
    nuclear power plants, chemicals, government contracts, etc.)...and
    even, includes financial services.

    In other words, it thoroughly dwarfs Apple. Accordling to your
    warped "logic," GE should be able to buy planet earth, itself!

    --
    Cordially,
    John Turco <>

    Marie's Musings <http://fairiesandtails.blogspot.com>
    John Turco, Aug 6, 2011
    #17
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