Just thought of something that would never happen. What if the US Federal Govt did a debt-for-equity trade with shareholders of publicly-traded companies? (Yes, I know shareholders aren't the real creditors, but just trying to have some fun here).
According to the US Debt Clock , the US National Debt stands at approximately $14,279.5 billion (as of 10:12PM Chicago-time). What publicly-traded US companies could be bought for this pretty penny?
1. Exxon Mobil (XOM) $424B
2. Apple (AAPL) $312B
3. Chevron (CVX) $220B
4. Microsoft (MSFT) $217B
5. General Electric (GE) $216B
6. IBM (IBM) $200B
7. JP Morgan (JPM) $186B
8. Walmart (WMT) $184B
9. Google (GOOG) $183B
10. AT&T (T) $182B
11. Procter & Gamble (PG) $173B
12. Oracle (ORCL) $172B
13. Wells Fargo (WFC) $169B
14. Johnson & Johnson (JNJ) $164B
15. Coca-Cola (KO) $155B
16. Bank of America (BAC) $136B
17. Citigroup(C) $130B
18. Schlumberger (SLB) $126B
19. Philip Morris International (PM) $117B
20. ConocoPhillips (COP) $117B
21. Verizon (VZ) $108B
22. Intel (INTC) $106B
23. Pepsico (PEP) $105B
24. Merck (MRK) $102B
25. Cisco (CSCO) $95B
26. Hewlett-Packard (HPQ) $88B
27. Berkshire-Hathaway (BRKA) $87B
28. Qualcomm (QCOM) $86B
29. Amazon (AMZN) $84B
30. Goldman Sachs (GS) $83B
GRAND TOTAL Market Cap of 30 Companies = $4,727 Billion (only)
Basically, you could buy 30 very large companies THREE-times-over with the entire US National Debt. (Of course, some of these companies have debt, but I can ignore that since this is a semi-pointless exercise). The point is that the US Debt is uber-grando-giga-big...and it's a problem that needs to be resolved.
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