News from the world of finance says Apple has more liquid assets or cold hard cash than our government. No one is sure whether this means that Steve Jobs governs better than the government, or whether Jobs is handing out jobs in masse. What it does mean is that we are all buying tons and tons of iPods, iPads, iTunes music and apps, and other Apple products – to the tune of $2.4 billion per month. In light of this the Seattle Times recently indulged in a bit of fun speculation on how Apple’s products could be affecting the entire economy. We’ll cover the main points here and link to further reading.
Imagine the local convenience store owner following the crowd and buying an iPad because it seems like a good business tool. Soon the store’s cashiers will want iPads because the gadgets will improve productivity due to useful business apps. They will all engage with social media which will drive business – due to Tweets about deals. The store’s inadequate Wi-Fi will lead to 3G service and its accompanying costs. Then Apple will announce a new model which will drive more Apple purchases. Multiply that around and soon technology bills everywhere go up, adding to Jobs bank account. Eventually the convenience store raises prices, at which point people stop buying food there. They bring bag lunches and eat at their desks – while playing with their iPad apps.
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