March 2022

Frank Boland
March 11, 2022

In the last century, one could walk into a building and see plant and equipment. That’s not possible in today’s knowledge/service-based economy. Assets are “soft,” even invisible. The result is that we are forced to trust the validity of published numbers. However, given the deceptions that occurred with Enron and WorldCom, we know it is risky...

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Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.

– Alan Greenspan