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Affluent Christian Investor | August 23, 2017

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Posts ByRoger McKinney, Author at Affluent Christian Investor - Page 2 of 5

February 6, 2017 |

Why the Fed Can’t Drive

One of Milton Friedman’s favorite analogies about monetary policy was driving a car. He compared money creation by the Fed to pushing on the gas pedal. On flat ground giving the engine more gas makes the car speed up, … Read More

February 2, 2017 |

Zombies Threaten Growth in 2017

Most economists expect the economy to grow at its most rapid rate this year. One of my favorite economists wrote this:

“If the new Trump administration cuts taxes and deregulates the economy, expect higher economic growth and another good … Read More

January 27, 2017 |

Brexit Doomsayers Double Down on Wrong Prediction

It seems that the Bank of England has been feeling the heat from its forecast that Brexit would plunge the UK into a depression. Added to the failure of mainstream economists to predict the Great Recession, the public is losing … Read More

January 18, 2017 |

The Case for a Raging Market in 2017

Trumpeting a new boss in the White House wasn’t the only cause of the recent spectacular rise in the stock market. Several economic indicators improved in the fourth quarter. Nicholas Vardy wrote,

Consumer confidence stands at its highest level … Read More

January 16, 2017 |

Trump’s Strength is His Weakness — Businessman Economics

President Trump is clearly a good businessman. His wealth proves it. And it was partly his success in business that encouraged many adults to vote for him. The logic seemed sound: if the problem with the US is the economy … Read More

December 26, 2016 |

The Pre-Christmas World of Hunger and Premature Death

The world was flat until 1600. Not the shape of the planet. According to the best economic history, standards of living even in 1800 AD hardly differed from those of 5000 BC. TV shows dealing with the ancient past … Read More

December 20, 2016 |

Why Markets Shrugged Off Fed Hike

For the first time in almost a decade the market shrugged off a significant move by the Fed when it increased its rate by 0.25%. Of course, the market had anticipated the increase for a year and so priced it … Read More

December 9, 2016 |

Goldman Sachs Rains on Trump Honeymoon

Traditionally, a new president enjoys a “honeymoon” period during his first few months in office but it seems that Goldman Sachs doesn’t like tradition. The investment bank tried to puncture the euphoria in the stock market over Donald Trump’s … Read More

December 6, 2016 |

This is a Trickle Down ‘Recovery’

The Bureau of Economic Analysis elevated its estimate of third quarter GDP from 2.9% to 3.2% last week. They intend the decimal points to give an illusion of accuracy when they know there is a lot of slack in the … Read More

November 23, 2016 |

How Over Confidence Destroys Earnings

“The curious task of economics,”  wrote Nobel Prize winner in economics Friedrich Hayek “is to demonstrate to men how little they really know about what they imagine they can design.”

In other words, good economists are humble and that shows how few … Read More

November 14, 2016 |

Economics Trumps Polling

One of the big news stories today is how the national polls got the results of the presidential election so wrong.

Part of their problem was the demonization of Trump by the media. When media bias turns a policy or … Read More

November 4, 2016 |

Trump’s Tariffs Could Sink Washington

Politicians have figured out that bashing China is a good way to attract votes. That’s why Donald Trump is doing it. It appeals to people who work and see jobs lost to cheaper products made across the Pacific. Hillary can’t … Read More

October 28, 2016 |

Deutsche Bank – The Snowflake That Could Trigger an Avalance

Avalanches build up one special snowflake at a time. The last snowflake launches the avalanche. Financial avalanche specialists are wondering if the troubled Deutsche Bank will earn the honor of being that last special snowflake, the Lehman Brothers of … Read More

October 24, 2016 |

Will Chinese Real Estate Be The Trigger of the Global Recession?

I have a Chinese friend who used to teach in a university in China. He reads news from home that doesn’t make it into the US media and tells me the more interesting stories.

Lately he has been reading … Read More

October 7, 2016 |

The Left’s Long Lingering History of Racism

Listen to the news about the immigration of Syrians to Europe and you think free marketeers are racists because the media labels opponents of immigration the “extreme right.” After all, promoters of freedom are positioned to the right while … Read More

September 29, 2016 |

What’s An Investor to Do When the Market Won’t Cooperate?

What is an investor who follows the Austrian school of economics supposed to do with a market that has traded in a narrow range for almost two years and refuses to bend to the reality of falling profits and … Read More

September 26, 2016 |

The Fed is Flummoxed – Austrian Economics Has the Cure

Late last month the Wall Street Journal printed a report card of Fed activity for the new millennium. The writers think the Fed failed most of its curriculum.

“In the past decade Federal Reserve officials have been flummoxed by … Read More

September 16, 2016 |

Are Market Returns Based on Random Luck?

In May of this year The Atlantic offered another hymn to the goddess of luck. Not only is worshiping the goddess a good thing according to the author, but agnostics are stingy and selfish:

Seeing ourselves as self-made … Read More

September 13, 2016 |

Shocking! NIRP Causes Savings Not Spending

The whole point of negative interest rates (NIRP) in Europe and Japan was to force people to spend by punishing them for clutching their cash. The rationale goes deep into the middle ages before modern economics: the economy is … Read More

September 1, 2016 |

Where’s the Growth?!!!

Decades ago an old lady yelled, “Where’s the beef?” when handed a burger in a fast food commercial. It became a catch phrase for occasions when people wanted to advertise that an idea lacked substance. So while the media proclaims … Read More

August 31, 2016 |

The Rich Are Getting Richer – Baptists and Bootleggers

Hillary and Bernie dusted off and hoisted aloft the old medieval standard “the rich get richer while the poor get poorer” during their primary contest. Republicans tended to respond with, “So?” During the Olympics, Hill promised to make the rich … Read More

August 12, 2016 |

Free Trade Can’t Help a Socialist Nation

Good economists, that is, free marketeers, are appalled by Republican nominee for President Donald Trump’s attacks on free trade. All of us have examined and approved David Ricardo’s theory of trade and comparative advantage. Trade is not a form of … Read More

August 4, 2016 |

Economic Model Says Trump Will Win the Election

For someone who despises politicians as much as I do it’s really hard to avoid political news lately. But there is a nexus between the presidential election and economics: most voters think the president controls the economy. The evidence for … Read More

August 2, 2016 |

What the Market Has in Common with Trump

Watching this market is like watching Trump’s candidacy. Everyone is waiting for both to crash and burn but they keep climbing to greater heights. Even Fox News appears to oppose Trump without much effect just as the stock market … Read More

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