Our Potemkin Village economic system

Everything is wonderful with our sparkling economy. The government has matters well in hand. (Just don't look behind the facade.)

(Image from ConceptArt.com Environment of the Week Contest for Potemkin Village. The artists, unlike our government, know what they are creating is fantasy and not real. And they’re not being duplicitous.

Amendment could [...]

FASB discovers own cojones

The too often overly compliant Financial Accounting Standards Board could actually be growing a spine and may recommend that financial instruments be recorded at fair market value and not marked-to-fantasy.

This is a serious big deal. Banks will fight to the death against this being implemented. Let’s hope FASB wins and some measure of [...]