Apple more cash rich than the US government

As the US continues to slide towards a financial crisis, Apple is sitting pretty

I nearly fell off my chair when I read on the BBC web site that Apple now has more cash to spend than the US government.

According to the Beeb, the latest US Treasury Department figures show the country has an operating cash balance of $73.7bn (£45.3bn). Whereas Apple has cash reserves of $76.4bn (£46.9bn).

While Apple seems to be making money in its sleep and is climbing up the global rankings, the US is spending around £122bn more a month than it collects in revenue.

I think that is a terrifying statistic and adds further fuel to the conspiracy theory that one day governments will not run countries, but corporations will. Or am I late to the party with this?

Did anyone see Torchwood last night? Truly scary stuff when you think about it.

(Disclaimer: I am not suggesting in any way a link between the pharmaceutical company in Torchwood and any IT company mentioned in my blogs)