Techrights

United States Entering the $100 Trillion Debt Trap, We Compare GAFAM Debt

Posted by Roy Schestowitz on May 06, 2024,

updated May 06, 2024

GAFAM alone is about half a trillion dollars in debt. How did we get here* and how to get out (if still possible at all)?

$100 Trillion Debt

When there's nothing left to cut, you 'annul' staff or slash the salaries (or both).

In the news: Google to relocate some US jobs to India and Mexico (capital to go to workers outside the US despite American taxpayers subsiding Google)

Consider the debt level of GAFAM:

Google's (source): 28.376 billion.

Apple's: 104.6 billion.

Facebook's: 37.633 billion.

Amazon's: 160.6 billion.

Microsoft's: 106.2 billion.

Yes, go get your mortgage (or pension) backed by companies that sometimes lose money and have deep dept.

So Google's debt is about 6 times less than Amazon's, 4 times less than Apple's, and 4 times less than Microsoft's. This debt is exactly the opposite of a sign of health, especially considering the current interest rates. And there are still very worrying cuts at Google that nowadays involve many FOSS people inside the company. Sure, Android grows at Windows' expense, but Google grows increasingly proprietary and standards-hostile. No wonder, as it hires so many people from Microsoft. █

______

• US debt today: 99.992 trillion dollars (includes personal and business debt, not just government debt).

Will that be 100 trillion dollars tomorrow? Wednesday? Later? Corporate media likes to ignore these figures because they shatter "consumer confidence" and hurt a cycle of mindless, needless "sales" (a harmful addiction that worsens things).