Some time back in the eighties I read in the newspaper that some of the worlds top economists and government financial leaders were meeting somewhere to finalize rules for the implementation of Off Balance Liabilities. It was just an article stuck in the financial pages and didn’t have a big headline or anything. I was some what confused. I’m no accountant but I know enough about the English language to understand that a balance sheet means that it is balanced by showing your assets and your liabilities. What could they possibly mean? It’s not a balance sheet if you don’t show all your liabilities. What were these guys talking about — off balance liabilities. Well, it seems that if your a top economist or a government financial leader then you can just make the words mean anything you want. You can call it macaroni. It’s easy for those guys. A balance sheet has assets on one side and macaroni on the other. God bless Prof. William “Yankee” Doodle and God bless merica.