The Flinchum File

Thoughtful Economic Analysis and Existential Opinions
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Welcome to The Flinchum File

I am an Accredited Investment Fiduciary at Bay Capital Advisors, an investment firm headquartered in Virginia Beach, VA. After retiring from Truist Bank, I started this firm to work more closely with a smaller number of clients, and it has been great! Our client load is about 25% of the national average.

Writing is not for the shy or the meek. It exposes a person’s mind and character. I hope you enjoy the view.

A Blockbuster From Left Field


Overnight, the engine of world economic growth, China, raised rates again, to slow their economy and the world economy.  The Finnish election went badly and will likely threaten the bailout of Portugal.  There is now serious talk of some bondholders of European governmental debt taking a loss at maturity of their bonds.  The head of … Continue reading A Blockbuster From Left Field

A Father’s Advice


Last night at my Rotary meeting, a friend asked me what advice a father should give his grown daughters.  I promised to sleep on it and give him some thoughts this morning in my blog.  In no particular order, they are: 1.  Money is not everything in life, but it is important.  Don’t be afraid of it.  … Continue reading A Father’s Advice

Lots of News This Morning


Initial unemployment claims expectently jumped 27 thousand last week, which is bad news.  Continuing claims (which is really more important) fell to the lowest level since September of 2008, which is good news. The Producer Price Index was expected to be up 1.0% but came in better at 0.7% in March, down from 1.6% in February.  However, … Continue reading Lots of News This Morning

An Economist’s Flashback


When I was a bright, young economist fresh out of graduate school, I was fascinated by the writings of Nikolai Kondratieff, who was an obscure Russian economist that rose to become the Deputy Secretary of Food for Russia.  Unfortunately, he would up in the infamous Gulag Archipelago with the famous Russian dissident, Aleksandr Solzhenitsyn. Communists at … Continue reading An Economist’s Flashback

The Camel’s Nose . . .


I have long been concerned about the damage that derivatives did during the global financial crisis and their ability to cause another one.  The biggest problem is the lack of transparency.  There is no clearing exchange to understand what the market was betting on, and it is important, because it is a $583 TRILLION market. … Continue reading The Camel’s Nose . . .

A Two-Speed World


One of my favorite sources of global economic analysis is the International Monetary Fund.  Their latest report was interesting.  They said that worldwide GDP growth was a very healthy 5% last year, and will be 4.4% this year and 4.5% next year.  That sounds really promising! However, that growth belongs to the “haves and have … Continue reading A Two-Speed World

Happy to be Two-Thirds Wrong


Long time readers know I write a quarterly column on the economy for Inside Business, which is the regional business journal.  You can copy and paste this URL to read the latest: In it, you will read the consensus of opinion at the conference of the National Association of Business Economics, which I attended in … Continue reading Happy to be Two-Thirds Wrong

Whew . . . But Not WHEW!


With a flair for needless melodrama, Congress decided not to shutdown the government last night.  That is a good thing.  From an economic standpoint, Keynesian economists are shaking their head, because the economy has lost stimulus, however minutely.  Austrian economists are relieved, because the deficit is reduced, however minutely.  Of course, supply-side economists got their … Continue reading Whew . . . But Not WHEW!

Where is Miss Woodward?


Suspended between childhood and puberty, eighth graders are notoriously ill-behaved and ill-mannered.  My teacher that year was Mrs. Woodward, and I wish she was in Washington, where members of Congress are both ill-behaved and ill-mannered.  She did not tolerate disrespectful slackards and actually threw kids out of class if they were not working hard or playing … Continue reading Where is Miss Woodward?

Is Money Everything ?


What a dumb question?  Everybody knows love, health, friends and other things are more important than money.  Yet, I was reading a new survey by the Associated Press that 25% of us have absolutely no savings and 25% of us say we have no plans to retire.  Is that just a coincidence?  I think so.  Money … Continue reading Is Money Everything ?

Kudos to Rep. Ryan (R-Wisconsin)


Last weekend, I wrote my quarterly column that will appear in next week’s Inside Business.  I discussed the economic conference I attended last month in Washington, where speaker-after-speaker lamented the fact that neither Democrats nor Republican would deal with the financial cancer on this country, which is entitlements.  The Democrats did it last year and … Continue reading Kudos to Rep. Ryan (R-Wisconsin)

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