The RetrieverTraining.Net Forums The Retriever Academy
Total Retriever Training with Mike Lardy
Hawkeye Media Gunners Up Tritronics Outdoor Media
Results 1 to 6 of 6

Thread: Operating Cash Balance

  1. #1
    Senior Member Goose's Avatar
    Join Date
    Oct 2003
    Location
    McKinney, Texas
    Posts
    813

    Default Operating Cash Balance

    In 3 days I will have more cash than the United States Treasury.

    Keep your pantry stocked.

    We live in Cuba now.

  2. #2
    Senior Member badbullgator's Avatar
    Join Date
    Dec 2004
    Location
    somewhere between Boca Grande and Mims
    Posts
    7,282

    Default

    Apple now has more cash than the U.S. government

    (CNN) -- Maybe the cash-strapped U.S. government should start selling iPads.

    According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around.

    Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report. Unlike the U.S. government, which is scrambling to avoid defaulting on its debt, Apple takes in more money than it spends.

    This symbolic feat -- the world's most highly valued tech company surpassing the fiscal strength of the world's most powerful nation -- is just the latest pinnacle for Apple, which has been on an unprecedented roll.

    U.S. debt: How did we get here? Its Macs, iPhones and iPads remain hot sellers, its stock has surged past $400 a share and Apple just became the world's largest smartphone vendor by volume.

    There's been a lot of speculation about what Apple might buy with its piles of cash -- Facebook and Sony being two of the more high-profile examples -- but the company doesn't seem to be in any hurry to make a move.

    "We don't let the cash burn a hole in the pocket or make stupid acquisitions," CEO Jobs said last fall. "We'd like to continue to keep our powder dry because we think there are one or more strategic opportunities in the future."

    Offering Uncle Sam a short-term loan is probably not one of them.
    Views and opinions expressed herein by Badbullgator do not necessarily represent the policies or position of RTF. RTF and all of it's subsidiaries can not be held liable for the off centered humor and politically incorrect comments of the author.
    Corey Burke

  3. #3
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    7,321

    Default

    Actually, the treasury won't be out of cash, but Obama would have discretionary power on prioritizing what to pay. Several have speculated that he would pay military salaries, social security, and a few other things. SS wouldn't even be in question if Billy had kept his mitts off it instead of raiding it to balance his budget.

    No matter what, the credit rating for the US govt is going to be downgraded ... just like individuals are downgraded on their credit report if they have too much outstanding debt. Unless the govt gets serious about reducing its debt, the credit rating is not going to be stable. Moody's already stated as much.

    I'd say that if we were supposed to hand out some aid to Egypt (and some other countries), we could just tell them politely that we don't have the bucks right now. Maybe when things start getting better, we can send it along. Who says we "owe" them "gifts"?


    Of course, these geniuses at the Fed level are the same guys who kept spending money when any jerk could figure out that tax revenues would be down due to the recession/depression. People who don't have jobs don't have a large chance of paying any income taxes. Duh?
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  4. #4
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    7,321

    Default

    Egan-Jones, a Nationally Recognized Statistical Rating Organization with the Securities and Exchange Commission, changed its rating of U.S. government debt July 16 to AA-plus from AAA. It released a statement explaining its decision: "The major factor driving credit quality is the relatively high level of debt and the difficulty in significantly cutting spending. We are taking a negative action not based on the delay in raising the debt ceiling but rather our concern about the high level of debt to GDP." In short, [COLOR=blue! important][COLOR=blue! important]investors[/COLOR][/COLOR] are more concerned about Washington's spending problem than they are about the Treasury being able to issue more debt.
    More importantly, Egan-Jones has been right when it mattered. As the Cato Institute's Mark Calabria notes: "It would be easy to dismiss these agencies as irrelevant and attempting to simply grab attention, but at least one of these agencies, Egan-Jones, has a track record of correctly predicting problems at such companies as Enron, WorldCom, Global Crossing, Bear Stearns and Lehman Brothers that the major rating agencies missed until it was too late."
    Possibly some will discount this information because it comes from Fox. OTOH, a quote is a quote.

    Basically, unless the US shows it's serious about fixing its debt, nobody is going to believe that increasing the debt ceiling is going to solve anything.
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  5. #5
    Senior Member Goose's Avatar
    Join Date
    Oct 2003
    Location
    McKinney, Texas
    Posts
    813

    Default

    I'm still not sure S&P or Moodys have the guts to actually lower their rating on our very own debt. It's easy to pick on Greece and other little countries but let's see if they have the courage to crap on the US because we all know that we don't rate a AAA rating in this country. Probably don't even rate an investment grade and without the printing press we should be down there with Greece at CC

    I'm sure that once the pols come up with some sort of 'kick-the-can-down-the-road' solution then all we need to do is wait for a Jackson Hole announcement from the Chairsatan himself on QE3 or whatever the heck he's going to call it and we'll see $5 bread and $8 gasoline.

    I bought cheap Folgers coffee from Albertsons yesterday. The container read 27.8 ounces and 240 servings. The same container 6 months ago reads 33.9 ounces and 270 servings...same price. That's how you try to hide inflation from the consumer. Maybe the gas stations will start advertising gas at $4 per half-gallon!

    We live in Cuba now.

  6. #6
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    7,321

    Default

    Sen. Toomey, R from PA, has given an outline for how to manage the available funds if the debt ceiling is not raised. He had foreseen this debt "crisis" back in January, but nobody was listening to him. Now, since they can't possibly meet Tuesday's deadline, they are finally paying attention.
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •