Greece or the USA to default first?

[Lord Jim]

Who was Barack Obama, Alex?

[thestoat]

Have you seen this?
Http://wtfnoway.com

Very scary ... Seems the US really is hosed

But then, if I owe you a dollar, I have a problem. If I owe you a million dollars, the problem is yours

[Gob]

Apple holding more cash than USA

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.

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

[loCAtek]

Now, there's a thought- Apple is supporting the California public school system; maybe they should just buy the rest of the state.