U.S. on Edge Of Bankruptcy? Apple Financials Show More Capital Than Uncle Sam
The BBC has reported a stunning statistic pertaining to the liquidity of United States treasury dept that is sweeping the world. Apple computers which is responsible for the iPhone, iPad and computers like the Macbook , has reported in their most recent quarterly update that their liquid operating capital is 76.4 billion while the treasury apparently is only sitting on 73.7 billion. With the world avidly watching the political debate over raising the countries debt ceiling yet again, reports like this are less than comforting.
With the existing state of the country even gurus like Warren Buffet have been weighing in on the problem. Being one of the most prominent business entrepreneurs in history his statements and insight always never fail to invoke apparent truth. His most recent statement made reference to the fact that if he were in control and his board had made decisions that caused him to go deep into debt he would have fired his board of managers. One has to wonder why in fact we do not have this same mind-set?
The fact many are arguing is that we cannot continue to keep borrowing in hopes to take the revenue and resolve our debt. With the bailout funds having came and went more jobs have continued to vanish making a powerful case for this point. Presidential approval stats are at an all-time low but it is arguable this is an issue that the President may indeed not be in a position to fix. One must pose the question if this financial mess is even fixable without avoiding a total financial collapse?
Many researchers are pointing out that the Government needs to take a page out of Apple’s playbook in getting their balance sheets in order. With several agencies on the verge of dropping the United States credit rating it’s clear something serious should be done that may actually be outside the president’s power. It’s widely known that if this downgrade in fact occurs the ripple effect might have very far reaching effects. Many financial consultants agree that despite whether the credit score is officially marked down or not it matters not. With all of the negative press our reputation in the United States has since already been damaged.
Apple serves as a great example that the United States needs to focus on what made this country a superpower in the first place which is innovating superb products that people need to buy. The challenge is even firms like Apple outsource most of the their final assembly to China as labor is much less. This is triggering many entrepreneurs and workers to search for chapter 7 bankruptcy information as positions continue to errode as a consequence of this. Until this changes the US could be in for a rocky road.
Mike has been retired for one or two years after having worked as a paralegal for a number of law firms. Be sure to check out his blog he updates regularly pertaining to bankruptcy service as well as bankruptcy advice .