America on Edge Of Insolvency? Apple Financials Show More Capital Than The US Treasury
The BBC has reported a surprising statistic pertaining to the liquidity of US treasury dept that is sweeping the world. Apple computers which is responsible for the iPhone, iPad and laptops like the Macbook Air , has reported in their most recent quarterly update that their liquid assets total 76.4 billion while the National Treasury apparently is only sitting on 73.7 billion. With the world avidly watching the national debate over raising the US debt ceiling yet again, reports such as this are less than promising.
With the existing state of the nation even economic wizards like Warren Buffet have been commenting on the problem. Being one of the most notable business businessmen of all time his statements and insight always appear to invoke obvious truth. His last statement made reference to the point that if he were in charge and his board had made calls that made him go deep into debt he’d have replaced his board. One has to inquire why actually we do not have this same mentality?
The undeniable fact many are pointing out is that we cannot continue to keep borrowing in hopes to invest the funds and solve the problem. With the stimulus funds having came and went more employment positions have continued to disappear making a viable case for this point. Presidential approval ratings are at an all time low but it's arguable this is an issue the President may indeed not be in a position to fix. One must ask the question if this debacle is even correctable without avoiding a total financial collapse?
Many experts are pointing out that the United States needs to take a lesson from Apple’s playbook in getting their finances in line. With many agencies making threats of dropping the U. S. credit status it’s obvious something extreme should be done that may in reality be beyond the president’s power. It’s no secret that if this downgrade actually takes place the ripple effect likely could have far reaching effects. Many economic gurus point out that regardless whether the credit score is officially marked down or not it doesn’t matter. With all the negative press our overall image in the U. S. has since already been compromised.
Apple serves as a great example that the United States needs to focus on what made this country a superpower initially which is innovating quality products that people want to purchase. The challenge is even firms like Apple outsource the majority of the their final assembly to China as labor is considerably less expensive. This is triggering many businesses and employees to look for chapter 7 bankruptcy information as positions continue to evaporate as a consequence of this. Until this changes the U. S. may be in for a difficult time.
Mike has been retired for one or two years after having been employed as a paralegal for a notable amount of attorney firms. Be sure to visit his blog he updates regularly regarding bankruptcy service as well as bankruptcy advice .
