accounting

The Fed will use these power tools during the next big recession

Summary: Six years after the recession ended, we are due for another recession. Many experts say that the government is “out of bullets” to fight the next severe downturn. That’s quite false because 2008 marked the start of a new era in which our leaders manage the business cycles using strange and awesome tools. We’ll …

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A neverending story: DoD’s attempts to stop cooking the books

“The Pentagon’s $1 Trillion Problem“, Scot Paltrow, Portfolio.com (May 2008) — An excellent article, well worth reading in full.  However, note the reporter’s implied assumption that DoD’s leaders want accurate accounting, but somehow new systems never seem to work. Excerpt: The size of nearly 28 football fields, with a facade of alternating red stucco and …

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