Long time readers will remember about a year ago I was asked to speak to the twenty brightest seniors in Virginia Beach about economics, which I was happy to do. The biggest shock to me was when one of them asked me about the difference between Keynesian economics and Austrian economics. Since I was probably … Continue reading And, you thought you didn’t like rap music . . . .
The Flinchum File
Thoughtful Economic Analysis and Existential Opinions
In my last column for Inside Business, I commented that the fear of the dollar losing its status as the world’s reserve currency was over-blown. This worried a number of readers. If this loss does occur, it will not happen for many years. In the meantime, we need to remember that responsibility comes along with … Continue reading Current Currency Thoughts
The National Association of Business Economics is an organization of “working” economists, as opposed to “theoretical or academic” economists, and I have been a member for years. This week, we held our annual policy conference in Washington, and it was fascinating as always. If asked what was most interesting to me, it is that the … Continue reading Not Market Timing, Cycle Timing………
Most people know that individual home mortgages are put into bundles, which is funded by bond purchases to repay the mortgage originators. This greatly expanded the amount of money available for home mortgages by allowing bond buyers to provide it, a lot of it. Less well known is that the same is done for auto … Continue reading Credit Where Credit is Due…..and Needed
While few economists disagree, the most important monthly economic statistic released each month for investment strategists is the “Jobs Report”, which is released the first Friday of each month. Today, the Labor Department announced the unemployment rate remained unchanged at 9.7%. The good news is that we only lost 36 thousand jobs last month, compared … Continue reading Recovery Postponed…due to weather delay?
Today, the Commerce Department reported that consumer spending in January increased for the fourth straight month and increased by more than expected. They also announced that the December increase was greater than earlier reported. Unfortunately, spending increased five times as fast as personal income increased, which only increased about one-fourth of what was expected. Hopefully, … Continue reading Return to the Future . . . I hope not!