Apple holding more cash than USA

Standard Toaster

America.
That's who I wouldn't want to be right now.....

http://www.bbc.co.uk/news/technology-14340470

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.

I liked the inclusion of photo of Obama with iPad.
Is America fucked?

ejmaztec

Standard Toaster wrote: »

America.
That's who I wouldn't want to be right now.....

http://www.bbc.co.uk/news/technology-14340470



I liked the inclusion of photo of Obama with iPad.
Is America fucked?

It's time to kiss Chinese arse.

jc84

even if its down to the last second they'll come to a deal, they're just waiting to see who budges first. the entire world markets would go into meltdown if they defaulted and it would be a disaster

damn. gonna have to look into shares in apple...:D

MagicMarker

What, like, proper fúcked?

Superbus

Well, whatever you say about Ireland, you can't say that we have $14 trillion worth of debt.

fedor.2.

Dont they owe most of the money to themselves though?

7Sins

Samsung + Google = Apple's demise.

On topic, no more f*cked than we are.

Standard Toaster

America should have bought some AppleCare protection plan....

strobe

Standard Toaster wrote: »

Is America fucked?

Nah, they are too big to fail.

Knasher

America currently has a debt of $46k per citizen. Ireland has a debt of $23k per citizen.

So by that measure America is exactly twice as ****ed as we are.

marxcoo

Knasher wrote: »

America currently has a debt of $46k per citizen. Ireland has a debt of $23k per citizen.

So by that measure America is exactly twice as ****ed as we are.

Hooray!! That's the best news we've had in a while.

mgmt

fedor.2. wrote: »

Dont they owe most of the money to themselves though?

I think they owe 4trillion to themselves, out of 14trillion. They have to stop these ridicules occupation wars. Stop the police state drug war. Stop the jingoistic military culture. Stop the federalist takeover of the states.

bnt

Knasher wrote: »

America currently has a debt of $46k per citizen. Ireland has a debt of $23k per citizen.

So by that measure America is exactly twice as ****ed as we are.

Um ... no. The US figure is their External Debt, and the equivalent Irish figure is much higher:

USA: $14.3T => $45,097 per person
Ireland: $1.67T => $364,500 per person (source, population of 4.5M)

Note that "debt" in this context includes money "invested" in the country's banks well as govt. bonds - anything on which interest has to be paid to another country. In the USA they're worried about a downgrade, and thus an increase in the interest they have to pay on new bond sales, if they don't agree to raise the debt ceiling by early next week. Even if that happens, they'd still be well below the rate that Ireland is already paying, even after the recent reduction in rates.

Ireland's situation has actually improved: see here for the figures from 30 September last year.

ilovesleep

America is fcuked with debt
Europe is fcuked with debt
China is in the mother of all bubbles
Australia has somewhat of a property boom that will burst.
Africa has famines

Can we not just default together.

mgmt

ejmaztec wrote: »

It's time to kiss Chinese arse.

China is focked too. They're lying like the Greeks.

phasers

Finally, we can feel superior to someone again!

ilovesleep

bnt wrote: »

Source, please? If I look at http://en.wikipedia.org/wiki/List_of_countries_by_external_debt, the picture is very different:

USA: $14.3T => $45,097 per person
Ireland: $2.2T => $503,914 per person

Note that "debt" in this context includes money "invested" in the country's bonds, on which interest has to be paid. In the USA they're worried about a downgrade, and thus an increase in the interest they have to pay on new bond sales, if they don't agree to raise the debt ceiling by early next week. Even if that happens, they'd still be well below the rate that Ireland is already paying, even after the recent reduction in rates.

So we're more fcuked?

phasers

bnt wrote: »

Source, please? If I look at http://en.wikipedia.org/wiki/List_of_countries_by_external_debt, the picture is very different:

USA: $14.3T => $45,097 per person
Ireland: $2.2T => $503,914 per person

Note that "debt" in this context includes money "invested" in the country's bonds, on which interest has to be paid. In the USA they're worried about a downgrade, and thus an increase in the interest they have to pay on new bond sales, if they don't agree to raise the debt ceiling by early next week. Even if that happens, they'd still be well below the rate that Ireland is already paying, even after the recent reduction in rates.

Oh


Thanks a lot Buzz Killington

Superbus

ilovesleep wrote: »

America is fcuked with debt
Europe is fcuked with debt
China is in the mother of all bubbles
Australia has somewhat of a property boom that will burst.
Africa has famines

Can we not just default together.

No, because then Canada would rule the world to an extent not seen since the Empire ruled the galaxy.

Knasher

bnt wrote: »

Source, please? If I look at http://en.wikipedia.org/wiki/List_of_countries_by_external_debt, the picture is very different:

USA: $14.3T => $45,097 per person
Ireland: $2.2T => $503,914 per person

Note that "debt" in this context includes money "invested" in the country's bonds, on which interest has to be paid. In the USA they're worried about a downgrade, and thus an increase in the interest they have to pay on new bond sales, if they don't agree to raise the debt ceiling by early next week. Even if that happens, they'd still be well below the rate that Ireland is already paying, even after the recent reduction in rates.

Well, that sucks. I'll admit my source was only one of those flash world debt clocks (and I didn't look into how they sourced their figures).

Also what the hell is going on with Luxembourg, $3,746,535 per capita.

Blazer

7Sins wrote: »

Samsung + Google = Apple's demise.

and the delusion kicks in...

Sticky_Fingers

Sc@recrow wrote: »

and the delusion kicks in...

We can dream can't we :P

Conor108

The secret to Apple's success

ilovesleep

Superbus wrote: »

No, because then Canada would rule the world to an extent not seen since the Empire ruled the galaxy.

So let Canada rule the world. The candians are good people. They will do a good job.

7Sins

Sc@recrow wrote: »

and the delusion kicks in...

Just you wait

ilovesleep

So what is going to happen when america defaults.

Ruu_Old

US forces attack Apple HQ! :eek:

blaze1

Ruu wrote: »

US forces attack Apple HQ! :eek:

Beat me too it..

US declares war on Steve Jobs as Islamic Mastermind Terrorist

bnt

Knasher wrote: »

Well, that sucks. I'll admit my source was only one of those flash world debt clocks (and I didn't look into how they sourced their figures).

Also what the hell is going on with Luxembourg, $3,746,535 per capita.

I've edited my post since then - the latest figures are lower for Ireland. :cool:

As for Luxembourg: they've been an investment target, the place that a lot of people are putting their money and getting good rates of return - better than the ECB rate. These External Debt figures alone don't tell you anything about a country's ability to repay - and Luxembourg doesn't have the economic problems that we have here. Debt isn't always a bad thing in itself - it can also be "leveraged" to make more money, which is what Luxembourg's investment banks do pretty well. Like taking out a mortgage on a house when house prices are going up: great if you can be sure of selling at the top of the market ... not so good when the bubble bursts.

Sticky_Fingers

blaze1 wrote: »

Beat me too it..

US declares war on Steve Jobs as Islamic Mastermind Terrorist

Why make stuff up, just tell people they are going after him because he's an egotistical douche who dresses like a Bond villian.

Eric Cartman

7Sins wrote: »

Samsung + Google = Apple's demise.

On topic, no more f*cked than we are.

http://www.macrumors.com/2011/07/29/apple-passes-nokia-and-holds-off-samsung-to-become-worlds-top-smartphone-vendor/

http://reviews.cnet.com/best-cell-phones/?tag=

the stats dont lie , anyone i know who owns an android handset would buy an iphone in a heartbeat if it didnt cost so much , its the worlds most desirable phone.

android is fine for the budget market or the type of people who like to hack their phone into doign things a phone doesnt need to do but at the end of the day apple managed over 4 years to go from not making phones to having the worlds best, most desirable and easiest to use smartphone. Something that HTC or samsung have failed to do despite making phones since the late 90s / early 00s.

7Sins

Eric Cartman wrote: »

http://www.macrumors.com/2011/07/29/apple-passes-nokia-and-holds-off-samsung-to-become-worlds-top-smartphone-vendor/

http://reviews.cnet.com/best-cell-phones/?tag=

the stats dont lie , anyone i know who owns an android handset would buy an iphone in a heartbeat if it didnt cost so much , its the worlds most desirable phone.

android is fine for the budget market or the type of people who like to hack their phone into doign things a phone doesnt need to do but at the end of the day apple managed over 4 years to go from not making phones to having the worlds best, most desirable and easiest to use smartphone. Something that HTC or samsung have failed to do despite making phones since the late 90s / early 00s.

I'm not talking about phones




















Talking about the future maaaaaaaaaan

bnt

Apple aren't the only company in a similar position. Microsoft has over $51B. Half the companies on the Dow Jones, such as Merck and IBM, have over $10B each.

MagicMarker

Eric Cartman wrote: »

http://www.macrumors.com/2011/07/29/apple-passes-nokia-and-holds-off-samsung-to-become-worlds-top-smartphone-vendor/

http://reviews.cnet.com/best-cell-phones/?tag=

the stats dont lie , anyone i know who owns an android handset would buy an iphone in a heartbeat if it didnt cost so much , its the worlds most desirable phone.

android is fine for the budget market or the type of people who like to hack their phone into doign things a phone doesnt need to do but at the end of the day apple managed over 4 years to go from not making phones to having the worlds best, most desirable and easiest to use smartphone. Something that HTC or samsung have failed to do despite making phones since the late 90s / early 00s.

The difference is android phones cater to all price ranges, where as apple only cater to one.

The people you know probably bought shít phones, I'd take a top spec android phone over an iphone any day of the week. I wouldn't trade in my HTC Desire for anything, except a newer better HTC Desire.

Radharc na Sleibhte

Why are the still AAA??????

Sticky_Fingers

Radharc na Sleibhte wrote: »

Why are the still AAA??????

Worlds largest economy, dollar is the worlds reserve currency, they have the biggest stick in the yard. Take your pick, a downgrading of the US credit rating is in absolutely no ones best interest (at present).

Latchy

Everytime I see Apple I think of the Beatles sixties record label but this default 21st style is all so Hi Tec now ...:p

holystungun9

ilovesleep wrote: »

America is fcuked with debt
Europe is fcuked with debt
China is in the mother of all bubbles
Australia has somewhat of a property boom that will burst.
Africa has famines

Can we not just default together.

I agree. It's not like all this money we're talking about is actually money. Most of it is just numbers on a screen. Can't we just add or delete a few numbers here and there. Each country gets a 60 second - no one's watching time frame. Kinda like the boss heads out to the bog and you play some more tetris or whatever. Boss comes back in and everybody is a winner. Til be grand. (I must confess that I am not an economist and there may be some faults with my proposal).

holystungun9

MagicMarker wrote: »

The difference is android phones cater to all price ranges, where as apple only cater to one.

The people you know probably bought shít phones, I'd take a top spec android phone over an iphone any day of the week. I wouldn't trade in my HTC Desire for anything, except a newer better HTC Desire.

Either way, I'm a sucker for product placement so I'm with Homer on this one.

https://www.youtube.com/watch?v=fxygLucnk4Q

Dodd

holystungun9 wrote: »

I agree. It's not like all this money we're talking about is actually money. Most of it is just numbers on a screen. Can't we just add or delete a few numbers here and there. Each country gets a 60 second - no one's watching time frame. Kinda like the boss heads out to the bog and you play some more tetris or whatever. Boss comes back in and everybody is a winner. Til be grand. (I must confess that I am not an economist and there may be some faults with my proposal).

Kind of like this.Go to 1:45.:)

https://www.youtube.com/watch?v=ybhroG408SU

I found this some of you might be interested in.
The sovereign nation group is hardly infallible: Ireland was rated AAA until 2009; Greece held an A rating until the same year. Both are now somewhere between dead and dying.

See full article from DailyFinance: http://srph.it/mRz0Jp

bnt

Dodd wrote: »

The sovereign nation group is hardly infallible: Ireland was rated AAA until 2009; Greece held an A rating until the same year. Both are now somewhere between dead and dying.

I think that say more about the ratings agencies than it does about the countries being rated. These agencies (Standard & Poor, Moody's etc.) are supposed to be the ones doing due diligence on whatever it is that they're rating. They get paid for this service, so it's not surprising that questions are being raised about exactly how they were able to give AAA ratings to securities based on sub-prime mortgages ... :mad: