Chapter 14 How LBJ Financed the Smartphone Phenomenon
November 22, 2015
LBJ made Apple what it is today!
While almost everyone knows that Apple and its founder Steve Jobs invented and created the iPhone, very few people realize that the most important person to the commercial success of the smartphone is Lyndon Baines Johnson. Yes the smartphone had to be invented, engineered, manufactured, and distributed but it also had to have buyers with money to pay for it. Apple and other smartphone suppliers were very inventive in this aspect of their business model as well, they got the telephone companies to subsidize the purchase of smartphones with their stream of money from the monthly telephone bill.
But where would the buyers get the money to pay that monthly telephone bill? LBJ took care of that in January of 1968 when he presented the "Unified Budget" proposal to Congress for Fiscal Year 1969. LBJ determined that both the U.S. Government and the U.S. citizens would have a lot more money to spend if the U.S. Government promised to pay social benefits to the U.S. citizens but did not tax the U.S. citizens and businesses to pay for these promises. He did this by using corrupt and fraudulent accounting, using Cash Accounting rather than the proper GAAP Accounting thus launching USAPonzi, "The Biggest Ponzi Scheme on the Planet".
This fraud, along with the fact that the U.S. Government has been and still is overspending even its Cash tax receipts to overpay the direct and indirect employees of the U.S. Government, has magically created $99.8 Trillion of counterfeit money and is currently creating $16.1 Billion more every day. The U.S. Government has even automated the process of getting this counterfeit money to the social benefit buyers of smartphones by creating the Electronic Benefit Transfer (EBT) Card and has made money available to those U.S. buyers that are not receiving social benefits by undertaxing them. With this business model and the help of a corrupt and fraudulent U.S. Government, Apple can, in theory make an infinite amount of smartphones and an infinite amount of money without anyone having to pay a penny except the future U.S. taxpayers some of whom are not yet born.
Apple announced revenue of $51.5 Billion for the Quarter that ended September 26. 2015 but the U.S. Government creates that much counterfeit money every 4 days since the Government produces $16.1 Billion of counterfeit money every day. Apple also reported profit of $11.1 Billion but the U.S. Government can pay for that with the counterfeit money that it produces in 16 hours 27 minutes. This is why Apple could be the first $Trillion company. In fact the only thing that appears to be able to stop it from becoming a $Trillion company is the implosion of USAPonzi. Will USAPonzi implode before Apple becomes a $Trillion company? That is the question!
The Ponzi Economy that LBJ created has made a lot of people and companies rich (Warren Buffett makes $9.0M a day) with counterfeit money but $99.8 Trillion can make a lot of people very rich and still have enough left over to buy all 1.75 billion smartphones that are in service today. But by my calculation, 84% of that U.S. private wealth will evaporate when USAPonzi implodes and most people will not be able to pay their telephone bill when the U.S. Government starts using honest accounting and an honest fiscal policy.
Financial data sourced from usdebtclock.org Nov 22, 2105.
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