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ACCOUNTING PROFIT: The difference between a business's revenue and it's accounting expenses. This is the profit that's listed on a company's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. It frequently has little relationship to a company's economic profit because of the difference between accounting expense and the opportunity cost of production. Some accounting expense is not an opportunity cost and some opportunity cost is does not show up as an accounting expenses.
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EASY MONEY A general condition of the economy in which money is relatively abundant and plentiful. In modern times, this condition arises when the monetary authority (Federal Reserve System) undertakes expansionary monetary policy. With easy money, interest rates are generally lower, but inflation tends to creep higher. The alternative to easy money is tight money.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for letters from the Internal Revenue Service.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy." -- Martin Luther King, Jr.
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