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.

Our Critical Culture

The educational establishment has worshiped at the altar of the “scientific method” (SM) for many decades. That is a decision-making tool for determining truth, by developing a hypothesis and then testing it against actual observations. If the observations don’t support the hypothesis, then the hypothesis must be untrue. With roots as far back as ancient Egypt, belief in SM didn’t become commonplace until the 17th…

Hollow Emotions

Existentialists often joke that words are just hollow emotions. One example is the oft-spoken “thank you for your service” that veterans hear. At first, it was appreciated. Now, it is just a reminder of how many years we never heard it. Another example is “thoughts and prayers” which is uttered by every politician afraid of their base of voters, as well as the all-powerful gun…

Destructive Accounting

The economic recovery from the 1980 recession was slow, so Congress they decided to jump-start it by invigorating the banking system. They authorized bankers to make equity investments. Instead of lending money to build a shopping center, for example, they could buy it. Later, they were allowed to buy companies. Indeed, bankers were strongly encouraged to be more than mere bankers. The accounting was simple…

Not Your Father’s . . .

Since Spring, I have advised people that the outbreak of inflation is not “your father’s inflation.” It’s not as bad today as it was in the early 1980s. One reason is that we have additional tools to fight it. Your father only had increasing interest rates to kill inflation – a proven technique but no longer the only cure. Appealing to patriotism didn’t work. (Remember…