This morning, Morgan Stanley, the distinguished financial services firm on Wall Street, announced that their earning loss for the quarter was ten times larger than they expected----no problem though, they had secured a large investment of cash from some foreign company.
One always looks to these revered financial firms as role models----the problem of course is that the average homeowner or retired American cannot have an oil shiek help with a cash infusion in a time of financial pinch. I have the ability to call on Skype. but just do not have the correct numbers.. The telephone numbers as well as the collateral.....
It has been years, and maybe a generation since folks have had to look at the accounting of things on a cash basis----it has become only a faint memory. In the Visa commercial, where everyone is in line, and the customers are speeding through the checkoutline with fabulous precision, the one grinch that snarls up the works is the person with "cash." What a foreign concept. Actually paying in current time for products is a very weird concept. Especially weird at Christmas, where I bet over 95 % of all sales are on credit cards.
Recessions mark a time of change in accounting psychology, and we are seeing it right now---although the power of denial is very strong in many folks. In every mind, there is the split accounting system---the power of positive accounting system that folks have been living with over the past 20 years or so----- and then the CASH basis accounting, which is NOT welcome, and has become the "Grinch" of Christmas.
So---What's in your wallet? What is in your Heart?
It might just be that to get the answer "JOY" for the second question, you will need to answer CASH in the first.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment