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2019 November BankNotes

Although the roughly two million affected residents of Northern California are recovering from the rolling blackouts imposed by utility PG&E, the company has warned that these “fire safety outages” may be periodically required for another decade. Naturally, California Governor Gavin Newsom decried the debacle as yet another example of “greed and neglect.” Yet as IER analyst Jordan McGillis explained in a previous article, the episode actually showcases the dangers of a government-imposed monopoly in electricity provision. In this article, I’ll elaborate on McGillis’ insights and show why the conventional economic rationale for government regulation of electric utilities is fundamentally flawed. Read More in BankNotes

2019 August & September Lara-Murphy Report

CLIMATE HYSTERIA: FACT VS. FICTION BY Robert P. Murphy
Despite their claims of just reporting on the science, the radical environmentalists don’t have the facts on their side. One of the big stories this month was “Climate Week” (September 24-30), and in particular the passionate testimony of sixteen-year-old Greta Thunberg before the UN, in which she famously exclaimed, “How dare you!” to the adults who were allegedly ruining her future. Another related item was the tragic death in late August of economist Martin Weitzman, which shone a spotlight on his technical work showing the limitations of conventional models in handling catastrophic risk scenarios.

Blog 59 – Financial Self-Reliance Helps You Build Bullet-Proof Wealth

Are you financially self-reliant? If not, decide to develop your own financial stability through taking control of your earning power, developing multiple streams of income, saving all you can, and concentrating on reliable investments with known or guaranteed returns. That way, even in times of stormy economic weather, you will find yourself on solid ground.

2019 September BankNote

It is with this in mind that I wish to take a closer look at the Mutual Insurance Holding Company (MIHC), which is a topic that is relevant to IBC practitioners and all those who may be thinking of implementing IBC policies in the near future. It is especially important now because Bob and I repeatedly stress that we are in the midst of an unsustainable boom that will crash and IBC offers, among other benefits, an exit strategy from the market collapses that are heading our way.

2019 July Lara-Murphy Report

On the last day of July, the Federal Reserve announced that it would be cutting its target for the federal funds rate, and it also moved up the termination of its balance sheet runoff. The move signals a fairly abrupt departure from the Fed’s official outlook from just a year ago, even though the underlying fundamentals have not significantly changed in the interim. Many observers have attributed the shift in Fed policy to Trump, either through his intimidation of Powell or because his antics with China could lead to a trade war (and hence require a shot in the arm to the economy). Either way, the Fed’s announcement does not bode well for the long-term health of the economy.

Blog 58 – Using Your IBC Policy To Supplement Your Income

You should start by withdrawing funds from your investment accounts. In any year in which your investment account loses market value, the following year you don’t withdraw funds from that account but instead you withdraw funds from your IBC policy.

2019 August BankNotes

Back in the September 2012 issue of the Lara-Murphy Report, I tackled an older blog post by financial guru Dave Ramsey where he strongly attacked the idea of using permanent life insurance as a savings vehicle.1

Blog 57 – Taking A Loan From Your IBC Policy

There is a lot of confusion in internet blogs about borrowing or taking a loan from your IBC/Banking policy. Let us make it absolutely clear that when you take a loan from your IBC policy what you are receiving is money from the general account of the insurance company that issued your policy, collateralized by the cash value of your policy.

2019 June Lara-Murphy Report

WHO BENEFITS FROM A GIANT HOSPITAL BILL?: Interview With Keith Smith, MD

Dr. Keith Smith knows the theory of Austrian economics, but he’s also doing something about it. He is lowering medical prices dramatically by seceding from the system.Dr. G. Keith Smith is a board certified anesthesiologist in private practice since 1990. In 1997, he co-founded The Surgery Center of Oklahoma, an outpatient surgery center in Oklahoma City, Oklahoma, owned by over 90 of the top physicians and surgeons in central Oklahoma. Dr. Smith serves as the medical director, CEO, and managing partner while maintaining an active anesthesia practice.

In 2009, Dr. Smith launched a website displaying all-inclusive pricing for various surgical procedures, a move that has gained him and the facility international attention.

His most recent effort is the launch of the Free Market Medical Association, which provides a platform where those seeking to obtain high quality and affordable health care can find free market-minded providers, both physicians and facilities.

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