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My philosophy is not a bean-counting, accounting 'look at this.' It is a philosophy that smaller government is better government, and government that is closer to the people is best of all.
I've met them down in the Cost and Accounting Department, clean-shaven and in white collars. They can't see a damn thing ridiculous about themselves... only about you.
Derivatives serve practically no purpose except to enrich bankers through opaque pricing and to deceive investors through off-the-balance-sheet accounting.
In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They let it balloon and balloon and balloon. It's aided by false accounting.
Elections are a good deal like marriages. There's no accounting for anyone's taste. Every time we see a bridegroom we wonder why she ever picked him, and it's the same with public officials.
Between a tyrant and a prince there is this single or chief difference, that the latter obeys the law and rules the people by its dictates, accounting himself as but their servant.
Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.
There's just no accounting for happiness, or the way it turns up like a prodigal who comes back to the dust at your feet having squandered a fortune far away.
There is a divergence between private and social accounting that the market fails to register. One essential task of law and government is to institute the necessary conditions.
I suppose that the scope and implications of such forces have rendered my personal accounting ritual pretty much obsolete. That's how things sometimes go.