Terry Burnham
Observations of a Biological Economist
10/2/23
September 2023, Chicken Little Portfolio Performance
The debt crises is getting closer. Interest rates are rising rapidly. The cause is simple - overspending. To paraphrase Winston Churchill, "never in the history of the US have so many spent so much of other people's money for breads and circuses." Current deficits are, by far, the largest non-crises deficits in the history of the US.
9/3/23
August 2023, Chicken Little Portfolio Performance
WOLF, wolf, wolf, wolf, wolf!
I have been crying wolf prematurely for a decade.
Aesop ends the fable of the boy who cried wolf with these lines:
Q: I cried out, "Wolf!" Why didn't you come?
A: Nobody believes a liar even when he is telling the truth!
8/2/23
July 2023, Chicken Little Portfolio Performance
I have been a Chicken Little for more than a decade fearing payback for overspending and printing money. Ralph Waldo Emerson wrote, "A foolish consistency is the hobgoblin of little minds." Judge for yourself whether my consistency is foolish or prescient by watching this CNBC video from 2013 (click here for video).
7/2/23
June 2023, Chicken Little Portfolio Performance
Is it time for Chicken Little to give up the bearish view and buy stocks? It certainly feels like time to buy stocks if one watches the stock market rally every day.
6/19/23
May 2023, Chicken Little Portfolio Performance
5/15/23
April 2023, Chicken Little Portfolio Performance
4/3/23
March 2023, Chicken Little Portfolio Performance
Is there going to be a deflationary debt crisis in the US with high real interest rates? I believe so. The investments to own in a deflationary, and high real interest rate, environment are cash and short term t-bills. Crypto and gold can serve as insurance in situations where it becomes hard to obtain and use cash.
3/2/23
February 2023, Chicken Little Portfolio Performance
2/6/23
January 2023, Chicken Little Portfolio Performance
The bear market case is getting existential. How long will we have to wait for the bone-crushing financial depression?