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 Crisis By Any Other Name


Because a crisis seldom arrives alone, it is important to recognize each one as they arrive.  There is an economic crisis, a financial crisis, and a political crisis.  Either can begin a downward spiral.  Combined, they can destroy a country. A garden-variety recession might be called an economic crisis, but it is actually routine, and … Continue reading A Crisis By Any Other Name

Buckle Up !


Thanks to Greek pensioners, the slow-motion train wreck that Greece has been for almost five years is finally coming to a head . . . for awhile.  This is not surprising.  The only real surprise would be if they didn’t “kick the can down the road.”  That could have theoretical implications for other weak European … Continue reading Buckle Up !

The Hidden Cost


Congress is dominated by lawyers with little understanding of economics.  Wisely, they created the semi-independent Office of Management and Budget (OMB) to “score” or estimate the economic impact of the proposed legislation by lawyers.  It is strictly non-partisan.  However, there is a wing of the Republican Party (the Supply-Side wing) that insists the OMB is … Continue reading The Hidden Cost

Farewell “Stars & Bars”


As a son of the South, the old South, I grew up with great pride in my Southern heritage.  While I was never proud of the racist part of that heritage, I did have great respect for my ancestors who fought and for the mothers who donated their sons to bleed and die. To understand … Continue reading Farewell “Stars & Bars”

Equal But Opposite


Sir Issac Newton (1642-1726) was an important English physicist and mathematician.  His Third Law of Motion says that every action produces an equal but opposite reaction. Or does it? As a thirteen-year boy, I was one of the larger boys my age and wanted to play football.  Unfortunately, my mother would not permit me to … Continue reading Equal But Opposite

One And Done


Wall Street wags like to say the stock market is completely unpredictable, except for one thing — it will always over-react.  To either good news or bad news, it will over-react!  The most recent example is known as the “taper-tantrum.”  That occurred when the Fed announced that it would slowly decrease or taper the amount … Continue reading One And Done

Reporting On Redistricting


Redistricting is the practice of allowing politicians to draw the lines of their district, which is akin to allowing them to pick their voters, instead of the more traditional view of letting voters pick the politicians.  It is not uncommon for people on one side of a street to vote in one district, while neighbors … Continue reading Reporting On Redistricting

Entrapping Debt Collectors


Many decades ago, one of my college professors said that anybody who actually wanted to become a police officer was inherently unqualified for the job.  His argument was that beating up on your fellow citizens was so heinous and disgusting that no sane, mentally-healthy American would want such a job.  As I had a relative who … Continue reading Entrapping Debt Collectors

Get Off The Stage !!


Many years ago, a client went to Greece on vacation.  As a souvenir, he bought me a “genuine” set of Worry Beads, explaining it was my job to do his worrying for him.  It is ironic that much of that worrying has to do with where he bought the Worry Beads — Greece. There is … Continue reading Get Off The Stage !!

Poison Rolls Downhill


I have belittled and ridiculed the U.S. Securities & Exchange Commission many times for being far more interested in the minor, technical details of the law than the true spirit of the law.  But, we still need them! The current Chairperson is Mary Jo White, who was considered a tough, hard-nosed prosecutor of white-collar crime. … Continue reading Poison Rolls Downhill

Unstable Consumer Staples


It has been a decade since I took my father to the World War II Memorial on the Mall in Washington, DC.  I remember we discussed the fact that 6,000 members of the Greatest Generation were dying each day.  It was hard to get our heads around the idea of a generation suddenly shrinking so … Continue reading Unstable Consumer Staples

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