Tuesday, March 13, 2012

Apple’s Stock Now Worth More Than All The Publicly-Traded Companies In Italy

On a day where Apple’s stock is up another $16, I thought I would pay homage to the brilliant financial masters of the universe who have brilliantly valued Apple and other financial assets to perfection.   Did I mention how brilliant Wall Street is?  Just want to make sure I give them due credit for being brilliant.  Because brilliance is truly a hot commodity in the world of finance.  Those guys and gals got it going on.  I mean, Harvard and Yale degrees, millions in earnings, top floor penthouses in New York, yachts, Ferraris.  They sure are brilliant, those Wall Street savants.  Almost as brilliant as our Harvard-educated president.  You know, just like all of the Harvard-educated lawyers in Congress.  He is going to fix everything.  He’s just so damn smart.  That’s all we needed really.  To just get rid of dummies like George Bush and put some Harvard-educated people in the White House.  Just saying. 

I’m too lazy to look up the exact numbers but this will suffice to make a point.  Last time I looked the total market capitalization of all companies in Italy was a little more than 1% of total global market capitalization of around $55 trillion. 

Now, I may be off by a few billion here or there but Apple is now trading at a market capitalization higher than all of the stocks in Italy.  All of them, dog breath.  Mind you, Italy is a country with 60 million people and the 8th largest economy in the world.    Hey, me?  I’d rather own an entire country than the massive Apple bubble.  Just saying.  What do you do for a living?  Well, I own Italy.  And you?  I own Apple’s stock.  Meh. 

The stock market is the largest Ponzi scheme in our country.   It’s value is derived solely through massive, never before seen leverage and free Federal Reserve money granted by taxpayers to financial criminals to gamble with. 

The biggest financial bubble in the history of the world just got a little bit bigger today.  For that, we should give credit where credit is due; Federal Reserve chairman Ben Bernanke, President Obama, House Republicans and Senate Democrats.  They have embraced nobility and virtue by re-regulating our economy and our financial system and returning our nation to some semblance of sanity and sustainable finance and economics.  

posted by TimingLogic at 4:19 PM

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