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Affluent Investor | June 23, 2017

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Posts ByRoger McKinney, Author at Affluent Investor - Page 3 of 5

June 13, 2016 |

How D-Day Teaches Economics

June 6, 1945, Allied forces invaded the Nazi fortress of Europe. Not everyone cheered. General Douglass MacArthur said of the invasion that he would court martial the SOB who had planned it. Of course, he knew well the planner. He … Read More

June 6, 2016 |

Will FinTech Uber the Big Banks?

The lyrics to one of the late Prince’s songs, “Party like it’s 1999,” seem more appropriate today as writers applaud new tech companies. In the late 90s, all an entrepreneur had to do to raise money for an idea … Read More

May 19, 2016 |

The First Austrian Economist – Washington Irving

Washington Irving is best known for his short stories “The Legend of Sleepy Hollow” and “Rip Van Winkle,” but he also wrote many essays. Before he lived by the pen he was a business man and one essay proves that … Read More

May 17, 2016 |

Trucking and Profits Drive Off a Cliff

Not long after the 2001 recession I took a job at a large long-haul flatbed trucking company as a rate analyst and one of the first things I noticed on the job was a graph of truck tons/mile. The … Read More

April 29, 2016 |

Will We Never See Another Soros or Buffett?

The Global Guru wrote recently that investing has changed so much over the past two decades that we will never see investors like Buffett and Soros who could earn 30% returns for 30 years.

Nicholas Vardy wrote, “George Soros’ … Read More

April 25, 2016 |

Democratic Fascism Kills Growth

Bob Bryan at Business Insider had an interesting column on why economic growth in the US is dying. For the cause, he defers to Mike Thompson of S&P Global Market Intelligence:

Instead of continuing to invest in the … Read More

April 19, 2016 |

How Mainstream Econ Promotes Socialism

Milton Friedman is a good example of a great champion of free markets whose economics betrayed his philosophy. Few economists enjoyed the ear of the common man in the way Friedman held it. He wrote regularly for popular magazines, appeared … Read More

April 12, 2016 |

Another Market Head Fake

In the world of real bull riding, as opposed to nominal bull riding, or investing, the cowboy (investor) must anticipate the spins and leaps of the bull. Riders often study video of bulls engaged in previous games of cowboy tossing. … Read More

April 8, 2016 |

Bank for Central Bankers Confirms ABCT

The popular press blames Wall Street shenanigans and banker greed for the most recent recession as the movie The Big Short demonstrates. Politicians digest the economics of the mainstream media and that is the reason Congress passed the Frank-Dodd Act … Read More

March 23, 2016 |

Central Bankers Made Bull Riding Necessary for Survival

Bull riding has become a lucrative sport for those with the talent to ride, earning the top riders hundreds of thousands of dollars per year in spite of a few broken bones. Central bankers have made learning to ride … Read More

March 18, 2016 |

Rescuing Turtles – How the ABCT Can Help Trend Followers Part II

Last week I introduced readers to trend following strategies of Michael Covel. Those who follow trends are sometimes called “turtles.” Covel and others admit that trend followers have sailed into troubled waters lately.

The Austrian business-cycle theory can help trend … Read More

March 10, 2016 |

Rescuing Turtles – How the ABCT Can Help Trend Following Investors

Futures magazine wondered in 2013 if trend following as an investing strategy was dead:

In 2012, the aggressive and persistent actions by central banks and other authorities worldwide served to maintain an unfavorable market environment that began in 2009 for … Read More

February 29, 2016 |

Japan’s 4th Quarter Torpedoes Market Monetarism

Japan’s GDP fell 0.4 percent from the third to fourth quarters, which translates into an annual rate of -1.4 percent as it is commonly reported. The shrinkage dealt another blow to Abenomics, the term the press invented for the Prime … Read More

February 18, 2016 |

Year Ahead Forecast – Stormy

Austrian economists are not huge fans of forecasting as are most mainstream economists, especially those who add a decimal point to lure the gullible into thinking the forecast is accurate. But that doesn’t mean Austrians don’t forecast. Hayek wrote in … Read More

February 9, 2016 |

Oil Can Sink Lower Than We Think

Everyone is wondering how low the price of oil can go. It’s well below the profitable level in the US, but the pumps keep pumping. In this earlier post I showed that oil companies will continue to pump at … Read More

February 2, 2016 |

How the Fed Creates Bulls and Bears

If you grasp this you will be light years ahead of most economists. Bull and bear markets can’t exist without the Fed manipulating the money supply. Here’s why.

Assume the stock of money is fixed. For example, say there exists … Read More

January 22, 2016 |

Poking the Bear – What Happens Next to the Market?

The S&P is down about 9% for the year and 10% from the highs last year as of this writing. By the time you read this, the index may be even lower. The bear has been hibernating for seven years … Read More

January 18, 2016 |

Big Short – Good Movie, Bad Economics

The outlaw couple Bonnie and Clyde was not only famous for their bank robberies in the 1930s, they were popular. They lost some of their appeal when they began murdering policemen, but people loved the fact that they robbed banks … Read More

January 6, 2016 |

Market Crash Overdue Says Spitznagel

According to the legendary hedge fund manager and author of The Dao of Capital: Austrian Investing in a Distorted World, Mark Spitznagel, the stock market should follow Canadian geese and head south any day now. I reviewed his book here … Read More

December 29, 2015 |

How Christmas Ended Starvation and Enriched the West

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 assume … Read More

December 21, 2015 |

The Real Economy Will End the Expansion, Not the Fed

The Fed has done an excellent job of preparing the world for this rate hike so it was already built into market prices. Don’t expect much to happen.

Some economists expect rising interest rates to kill the “recovery” and plunge … Read More

December 15, 2015 |

US in Rut Like Old German Socialism

Mainstream economists and the Federal Reserve are trapped in a rut, condemned to repeating the mantra that monetary policy can save us even though it hasn’t for seven years. Germany after World War I faced a similar situation and the … Read More

December 4, 2015 |

Forget Lousy Christmas Sales, Manufacturing Was Already in Recession

The sales figures for Black Friday are out and they are scary. Brick-and-mortar store sales plummeted 10.4% over the weekend from last year’s levels.

Online sales increased on Black Friday by 14% over last year to $2.7 billion and on … Read More

November 24, 2015 |

Japan, Europe, and Mainstream Monetary Theory are Out of Gas

When a sailor hits a dead spot where the wind refuses to blow he says he is “in irons.” Japan’s economy sailed into the irons this past quarter when its GDP declined for the second quarter in a row … Read More

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