Nauseating story, pictures, video, audio here.
On Thursday afternoon, The Tell reported that Apple was closing in on Exxon Mobil’s crown — $364 billion versus $405 billion, respectively — as the biggest U.S. company using a market-cap measure.
Matt Hartley of Canada’s Financial Post has gone one further and made the claim that “the world’s largest technology company now has more cash on hand than the most powerful democracy on Earth has spending room.”
Citing U.S. Treasury data, Hartley writes that whereas the U.S. has an operating balance of some $73.77 billion, Apple’s cash reserve is $75.88 billion (per its latest June earnings report).
This might amount to an Apples-and-oranges-type comparison, but it’s a sobering thought.
The Tell. This does not mean government should be run like a corporation. Far from it. I don’t want government to be efficient, growing, innovating, profit-seeking. All those attributes come at the expense of human freedom because government growth is a coercive, zero-sum deal. Corporate growth is a voluntary, positive-sum deal. A customer get’s their product or service and the company gets paid for it.
Here’s a few as compiled by Charlie Spiering.
Why is that? Gee, I wonder if Spanish politicians cannot get spending under control.
Particular focus rested on Spain’s regional governments, many of whom are struggling with burgeoning debt loads after a decade of reckless spending. Analysts fear control over regions’ debt loads is slipping out of the central government’s grasp.
. . .
“Regional governments’ finances may prove difficult to control due to structural spending pressures, particularly in the healthcare sector,” Moody’s said in a release.
Amy Winehouse refused to go to rehab for her addiction. She paid for that. Well, the political class — including Obama, Pelosi, Reid, Boehner, Bush, Cheney and the other spendaholics who support endless wars, endless spending, ever-growing entitlements, TARP, student loans, corporate subsidies, agricultural subsidies, lavish retirement benefits for government employees, worthless currency– are suffering withdrawal symptoms. Their application for more credit is being denied right before their eyes.
Rep. Pelosi (D-CA) and the other spending addicts are trying to save their world as they know it. You know, the world in which they spend every cent they can get their hands on and regulate every human behavior they can identify. Here.