As we are ruled, collectively and individually, by time, it is appropriate to mark the end of each year. Since 1422 when French king Charles VI died and was replaced by Charles VII, the expression of “the king is dead, long live the king” has been used to assure us that the throne is never … Continue reading Long Live 2015
The Flinchum FileThoughtful Economic Analysis and Existential Opinions
I have been reading The Kiplinger Letter most of my career and appreciate its optimistic, plain-talk outlook. They have just published a letter of advice to their grandchildren, and it is excellent. I recommend giving it to your grandchildren. You can find it at: http://store.kiplinger.com/kwl/knight-kiplinger-letter-to-grandchildren.pdf
The current president of Turkey is Recep Tayyip Erdogan. He once said the “democracy is like a streetcar. When you get to your stop, you get off.” I’ve wondered about this for a long time. That quote came to mind when reading about the snap election just called in Greece. The Greeks were arguably the … Continue reading Paying The Piper
Other than business shows and news shows, there is little I watch on television. However, in 2007, I became fascinated by a show on CNBC called American Greed. It described true stories about how innocent people got cheated, usually by a financial advisor running a Ponzi scheme. At first, I was amazed that investors didn’t … Continue reading Lessons Not Learned From TV
Congressmen should never be allowed to decorate a Christmas tree, as they would hang or hide the most ugly and most dangerous ornaments both on and under the poor tree! As a minor example, the latest budget bill repealed limits on the number of hours a commercial trucker could work. As someone who spends way … Continue reading HO HO HO . . . NOT
Merry Christmas and/orHappy Hanukkah and/orHappy Kwanzaa and/orWarm WinterFest
Some have described the U.S. economy as the only clean shirt in the dirty clothes hamper, meaning the rest of the world is in worse shape than we are. True! While I wish nothing bad on the people of Russia, their current economic woes do give me some unseemly degree of satisfaction. And,while I … Continue reading Your Homework Assignment
In survey after survey, we see that the concentration of wealth in fewer people continues to increase. The latest Pew Research study shows the net worth of the top 20% of Americans doubled from $318,000 in 1983 to $639,400 last year, while it actually dropped for the bottom 20% of Americans from $11,400 in 1983 … Continue reading Human Capital
Free Enterprise is the happy marriage between the economic system of capitalism and the political system of democracy. They are a cute couple and look like they belong together, but apparently not everybody agrees. For those of us who worship at the altar of Free Enterprise, we were excited with the introduction of capitalism into … Continue reading Waiting At The Altar
Gifted and/or cursed with the “early to bed, early to rise makes a man healthy, wealthy, and wise” and/or sleepy metabolism, I get to watch the European stock markets open most every morning. It is like watching the sun come up, where one witnesses renewal of the physical universe, only that I witness renewal of … Continue reading Santa Cheats
Conservative pundit Michael Gerson has written an excellent column about the need for compromise in Congress. Please read: http://www.washingtonpost.com/opinions/michael-gerson-can-clinton-or-bush-deal-with-americas-desire-for-populism/2014/12/15/ca531074-848e-11e4-b9b7-b8632ae73d25_story.html
Back in 1980, I was doing graduate study in international finance at the University of Dallas when I took a course in the economics of energy (which is not surprising in Texas, I guess). I learned that oil is the most competitive commodity in the world, as well as the most regulated. Most of all, … Continue reading Crashes Are Transitory?
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