Another of my personal heroes has left us. Paul Volcker was a New Jersey boy with a tough mind. Even without a Ph.D., he was appointed Chairman of the Federal Reserve Bank by President Jimmy Carter and subsequently by President Ronald Reagan. Do you remember the WIN buttons for “Whip Inflation Now” of President Gerald … Continue reading R.I.P. “Tall Paul”
The Flinchum File
Thoughtful Economic Analysis and Existential Opinions
Genworth is a huge insurance company in Richmond that has long been a leader in long-term-care (LTC) insurance. It is to their benefit to over-estimate the monthly expense of long term care, so they can scare more people into buying LTC policies. With that caveat, they have recently estimated the monthly cost of care in … Continue reading Nice Thought ?
Last week, the biggest surprise was the November “jobs report” that 266 thousand jobs were created in November — way more than the 187 thousand new jobs that analysts expected. Plus, we learned more jobs were created the two previous months than reported earlier. The three-month rolling average is a whopping 244 thousand – very … Continue reading Too Beat-Up To Matter ??
Marion Weinzweig was an 18-month-old girl in Poland when World War II began. To survive, her Jewish parents sent her to live with Catholic friends, but the Nazis soon learned there was a little Jewish girl in that home. So, that little girl was shipped off to a Catholic convent, to live and learn as … Continue reading Lonely Survivor
I have long argued that globalization has tremendous benefits, although there are costs to be paid, such as retraining and relocation. Years ago, Congress grabbed the benefits and wouldn’t pay the cost. Instead, that price was paid by the people of lower-middle class America. The most important book for the last ten years was Hillbilly … Continue reading Anger in the Hills
A common scenario is that money flows out of a falling stock market into the bond market, which drives up the price of bonds and therefore lowers interest rates. Of course, lower interest rates usually strengthen the economy, which is good for stocks and causes money to flow back into the stock market. Faithful readers … Continue reading Stating the Obvious?