It’s time to lean back, relax and enjoy a little Joe …
Welcome to another exciting edition of Black Coffee, your off-beat weekly round-up of what is going on in the world of money and personal finances.
I still have a busy weekend ahead, so let’s go immediately with this week’s comment …
Those pieces of fiat paper – who should have been gold – are a token of honor; Your claim to the energy of the men who produce. Your wallet is your hope of hope that there are men somewhere in the world around you who are not in default with that moral principle, that the root of money is.
– In Rand
Credits and depreciation
Credit: Have you seen this? A recent piece on the ED in the New York Times the decline of airport lounges: Long wait, sad buffets and weak drinks that hardly justify the hype. Lounges used to be a perk reserved for business travelers, but now everyone uses them. As a result, there are long lines for access to what has been overflowing gathering places that do nothing to reduce stress, while substandard drinks and buffet rate are offered. This is simply more proof that when everyone is “special” than nobody. Fortunately, airlines quietly increase the lounger costs in an attempt to reduce exclusivity and make lounges a place to relax with excellent service.
H/T: Mint
Debit: On Friday, the Bureau of Labor Statistics (BLS) of the government reported that the US added a meager 22,000 jobs in August. But that was not the worst – the BLS also revised the figures from June, which showed a net loss of 13,000 positions for the month. That is The first net job loss For every month since 2020. Uh Oh. The newest baneng data has stimulated the chance of a FED reduced rate of September to more than 95%. And talking about opportunities …
Debit: On a related remark, a new study by Stanford University showed that employees who are just starting their career between 22 and 25, a disproportionate threat to job loss of the widespread acceptance of generative artificial intelligence (AI). On average, young employees have experienced a decrease of 13% in employment in banensectors that are most vulnerable to AI replacement, whereby software developers between 22 and 25 see a decrease of 20%. On the other hand, the prospects are even worse for telemarketers …
Debit: By the way, the same study discovered that too Customer service representatives Also run the risk of the significant proliferation of AI deployment. On the other hand, work continued to grow in the same sectors for more experienced employees. In the meantime …
Debit: On Wall Street, despite A Down Day On Friday, both the S&P and Nasdaq ended the week with profit, 0.3% and 1.1% respectively. However, the Dow saw losses in the week; It ended the week 0.3% lower. Unfortunately, it is clear that market assets are irrevocably bound to the print press of the Fed since the major financial crisis – that is why the FED will soon lower the rates, despite the continuous inflation risks. In other words: the party will continue !!!
Credit: In other news it seems that Florida will soon be able to Eliminate real estate tax – And they are not alone. The Sunshine State, together with Illinois, Kansas, Montana, Pennsylvania and Texas, all try to considerably reduce or even abolish the real estate tax. According to Yale Professor David Schleicher, the Mars to eliminate real estate tax is “largely a reaction to the run -up to house prices, in particular in the suburbs and the suburb.” In reality, the movement is a reaction to the absurd run -up in real estate tax. But it was taken.
Debit: In the meantime, British, German and Japanese long bonds were all of them highest yields in a decade – or even longer – this week. Translation: Revenue curve control (YCC) is coming. It also means that the world finally wakes up with the fact that the use of central bank pressure presses to pay for everything – Including every financial crisis that holds its ugly head – ultimately destroys the purchasing power of Fiat -Malutas. As a result, all bonds mentioned in the same Fiat currencies are no longer considered safe ports of the monetary system. Investors who are looking for safety today, buy gold. Imagine that.
Credit: Anyone who pay attention knows that our fraudulent debt -based monetary system has almost followed his course. As James Howard Kunstler notes, the money men are ‘ Stare in the abyss Staring back at them, with their hair on fire and their eyes fall out. Just about everything is no longer crazy: shares, bonds, the pleasure of shadow banking, collateral (if it is even there), currencies, perhaps even the fate of nations. France is, for example, a chat about an imminent IMF rescue. Well, if it goes, what do you think, do you happen to Germany, Great -Britain, Italy, Spain, the Netherlands and Belgium? “Yes. Exciting times for sure.
Depending on the perspective, what many people are considered to be a scenario “downfall and gloomy” are seen by others as something to embrace.
Credit: The US government has added both copper and silver to its design 2025 List of critical minerals Last week. As analyst Franklin Sanders Sanders notes on the shielding metals: “This places silver in the same strategic category as lithium, uranium and rare earth minerals. Within four years of receiving this designation, Uranium climbed from $ 20 to more than $ 100 per pound and lithium from $ 10,000 to $ 70,000 to $ 70,000.
Credit: On a related remark, experts say that the US government indicates that a gold revaluation can be somewhere within the next 12 months. How high can the yellow metal actually be revised? Good… That depends on how low the US government wants its debt / GDP ratio, taking into account that every ratio More than 90% is considered by economists as both unhealthy And Untenable. In any case, here is a graph that well summarizes the situation (don’t think the markets sniff it) …
Source: Goldsilver.com
Credit: So … what price will the US eventually revise gold? According to Goldsilvergold should be revised $ 3981 per troy ounce To lower the debt-gdpp ratio with Miezy 3%-that means from 119%to 116%. As an alternative, the US should revise the yellow metal to $ 34,000 to get debt-to-GDP to the maximum “sustainable” level of 90%. And it would cost a gold revaluation for $ 86,000 to bring back America’s debt to where it was in 2007, prior to the big financial crisis. Do you have gold?
By the figures
Since we are officially from September, let’s look at the year-to-date version (until 31 August) of some selected large asset classes:
-7.0% 10-year US Treasury Proxy (TNX)
+5.3 Russell 2000
+7.1% Dow Industrials
+9.8% S&P 500
+11% Nasdaq Composite
+32% Gold
+39% Silver
+75% Silver Miners Proxy (SIL)
+79% Gold Miners Proxy (GDX)
Source: Yahoo! Finance
The question of the week
The poll results from last week
Is it culinary sacrilege to put pineapple on a pizza?
- Yes 27%
- His own for each. 25%
More than 2000 Len Penzo Dot com readers responded to last week’s question and it appears that almost 3 in 4 of you would never look in your nose at someone who orders a pizza with pineapple. That’s nice to know, since I love pizzas with pineapple and Canadian bacon of sausage!
When You Have a question that you would like to ask the readers here, send it to me Len@lenpenzo.com And make sure you place “question of the week” in the subject line.
Useless news: Quick Thinker
One day a woman entered the garage, where her husband was sitting under the car and struggled to repair a nasty engine. “Honey,” she said, “if you were asked to describe me, what would you say?”
Without hesitating or stopping his work, the busy husband replied under the car: “Abcdefghijk.”
Stunned by the apparently thoughtless reaction of her husband, the woman asked: ‘What the hell does it do That mean?”
While he continued his key, the man again replied without any hesitation: “cute, beautiful, cute, delicious, elegant, fashionable, beautiful and hot.”
The woman started to blush and said: “Aww, thank you, honey! That’s Real sweet!”
The man continued to work on the car. A few seconds later the woman said, “Honey …”
“Yes?” Her husband answered and still worked furiously.
“What about IJk?”
The man said, “I’m just joking.”
(H/T: Sam I am)
Squirrel
Last week I shared a photo of Ricky who looked in the camera to let us know that the picnic table was missing. Fortunately for him the honey bee saw him. Here is the follow -up video …
.
Buy a coffee for me? Thank you!
For the best reading experience I present all my fresh black coffee costs without advertisements. If you enjoyed this week’s column, buy a coffee for me! (Dunkin ‘Donuts; not Starbucks.) Thank you very much!
.
More useless news
Hey, while you’re here, please don’t forget:
1. Subscribe to my weekly Just pension dot com newsletter!
2. Make sure you follow me Follow me on x.
3. Become a fan of Len Penzo Dot Com on Facebook also! And last but not least …
4. Support this website by clicking on the advertisements of my sponsors! Thank you!!!! 😊
Letters, I get letters
Every week I have the most interesting question or comment – assuming that I get one, that is. And people who are lucky to have the only question in the mail bag, get their letter here emphasized whether it is interesting or not! You can contact me at: Len@lenpenzo.com
After reading my article explaining why tubs in jacuzzi style are a waste of money, Chung offered this counterpoint:
I think whirlpool is just sublime to calm down from beating.
Well, now … that is certainly an interesting way to say it.
If you enjoyed this edition of Black Coffee and found it informative, send it to your friends and family. Thank you! 😀
I am Len Penzo and I approved this message.
Photocredit: Public Domain
#Black #coffee #Fly #high