Saturday 30 July 2011

Apple Got More Cash Than the US Gov


 U.S. is by far the world's largest economy, with estimated GDP of $14.62 trillion in 2010, according to the IMF. However, the US government now has less cash to spend than Apple. According to the US Treasury, the country has an operating cash balance of $73.7bn. This is in comparison to Apple's reserves of $76.4bn according to their latest financial report.

The United States is currently spending around $200bn more than it collects in revenue every month. Its no surprise that they need to increase their debt ceiling. And as suggested earlier, they should just remove the debt ceiling since they would not adhere to it anyways.

 
There are speculation that Apple might use their extra cash to purchase Netflix. This is a foreseeable move since they already worked with the company for Apple TV. Netflix is under pressure after implementing a price hike and receiving negative feedback for their website design changes.

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