While I am as disgusted as all those pontificating politicians about the AIG bonus issue, there is a greater issue than this additional instance of unfairness, and that is the sanctity of contracts. While contracts can be set aside for a few narrow reasons, this is not one of them. Even worse, over-turning these contracts … Continue reading A Greater Wrong
The Flinchum File
Thoughtful Economic Analysis and Existential Opinions
Last week, I spoke before 750 people for Virginia Beach’s annual “State of the City” address. It was a piece of cake! I also spoke before the 24 brightest high school seniors in Virginia Beach, who are competing for a large scholarship. That was intimidating! These kids are so bright. They asked questions about the … Continue reading Our future leaders are impressive
A year ago, I predicted unemployment would reach nine percent. On Friday morning, the Labor Department released the monthly “Jobs Report,” showing unemployment had already reached 8.1 percent, the worst in 26 years. If you add in the under-employed, those people who are forced to work part-time or who have given up, 14.8 percent of … Continue reading Jobs Report reflects long year ahead
Sitting at a traffic light yesterday, listening to Rush Limbaugh’s speech to the Conservative Political Action Committee, I saw pick-up trucks go by, helpful for small cargoes. I saw 18-wheelers go by, helpful for large cargoes. I saw cement trucks, refrigerated trucks, and even a fire engine — all helpful tools for specialized missions. Some … Continue reading Economics is not a religion
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