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 …
The same boiling water that soothes the potato paves the egg. It’s about what you were made of – not the circumstances.
– Anonymously
Credits and depreciation
Debit: Have you seen this? While the debate on the health of the US economy is persisting, Starbucks announced that it will do that leave 900 employees And close around 400 stores as part of the restructuring plan of $ 1 billion. The number of stores in North America will fall by around 1% in the tax year 2025. With regard to the rest of the US, it doesn’t look much better …
Debit: In other news, we Consumer confidence fell More than expected in September in the midst of mounting worries about the availability of jobs. The latest research shows that the assessment of the operating conditions of consumers is decreasing, while their assessment of the current availability of jobs has fallen for the ninth consecutive month. Many economists warn everyone to hold because they have seen this film before – but do they really have that?
Credit: In the meantime, inflation has essentially remained unchanged since August – but It still increases 2.7% Year-on-year (JoJ) as measured by the preferred inflation meter of the FED, known as the price index of the Personal Consumption Expisutures (PCE). The good news is that both the FED and the federal government continue to tell us that so -called “stablecoins” will help such tether (USDT), USDC and DAI (DAI) Save the day By putting an end to the rapidly decreasing purchasing power of the US Dollar (USD). Oh, wait …
Credit: On a related remark, the most important economic strategist for Morgan Stanley Wealth Management, Ellen Zentner, said this week that the latest inflation data suggests that “the economy is percolating but not overheating. “As a result, he says that the FED will remain on course to deliver a new rate at the end of October. each Of the economic figures they are fed:
Credit: The three large stock market indices are covered on Wall Street another Winning week as investors fixed on the promise of artificial intelligence (AI), even when a government closure delayed the release of the monthly job report. At Friday’s Slotbell, the Dow, S&P 500 and Nasdaq all ended the last five -day run with winning More than 1%. But again, at the moment there is really no other option …
Debit: In the meantime, the national debt is approaching quickly $ 38 trillion. Yes … that’s a big problem. It is even an even bigger problem than anything this Idiots have willingly succeeded in coming in:
Credit: By the way, for those who believe that the relentless rise in the USD price of gold is approaching his limit, keep in mind that the gold price should more than triple From the current level of around $ 3800 to reach its height in 1980 when adapted for the money supply. For those who don’t count at home, that would be Almost $ 12,000 – And that assumes that the money supply does not increase from here.
Credit: It is no coincidence that the ram of the American treasure chest of the barbaric relic has surpassing $ 1 trillion In value for the first time in history. Why is that important? Because the book value of the reserves of the current $ 42.22 (sic) per ounce to today’s prices would unleash around $ 990 billion in the treasury of the treasury, which drastically reduces the need to give as many treasury bonds this year. Not yet that someone seems to pay attention to the attention.
H/T: @duedenceguy
Credit: By the way, if the US renewed gold even higher than its current market price of almost $ 4000, it would free up even more sales and reduce the national debt / BDP ratio to a far-reaching level. That said, If the US does not have 8133 tons It claims officially, then the price of the yellow metal will have to go even higher than the $ 20,000 to $ 40,000 revaluation objective currently connected by the macro analysts. On a related note, even regular economists who sent their customers so far away from the yellow metal, are finally starting to make ends meet. Better late than never, we guess …
Credit: Of course the burning question is: the US will. Real Have your gold revised? Bank of America, for its part, says Bank of America that any official gold revaluation remains a long shot Until the American Minister of Finance Scott Bessent gives more credible details about his plans to “earn money from the assets of the American balance.” Yet many macro analysts say that a gold revaluation is inevitable -which is a big reason why the USD price of gold has risen in the last 18 months. Do you have gold?
By the figures
With the third quarter of 2025 now behind us, let’s look at the year-to-date performance for a number of selected large asset classes. And no … the numbers for gold, silver and their respective mine stocks are not Miss a decimal point:
-10% 10-year US Treasury Proxy (TNX)
+9% Dow Industrials
+9% Russell 2000
+14% S&P 500
+17% Nasdaq Composite
+45% Gold
+61% Silver
+123% Gold Miners Proxy (GDX)
+125% Silver Miners Proxy (SIL)
Source: Yahoo! Finance
The question of the week
The poll results from last week
How long has it been since you traveled per air?
- More than 2 years 43%
- Less than 6 months 26%
- Between 1 and 2 years 19%
- Less than a year 12%
More than 2000 Len Penzo Dot com readers responded to last week’s question and it appears that 2 in 5 of you traveled per air in the past year. The good news for travelers is that the airline tickets fell steadily this year with the falling price of aircraft fuel. Let’s hope that the lower prices can linger for a while!
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: an important history lesson
In 1923, who was:
1. President of the largest steel company?
2. President of the largest gas company?
3. President of the New York Stock Exchange?
4. Biggest wheat speculant?
5. President of the Bank of International Settlement?
6. Big bear from Wall Street?
These men were considered some of the world’s most successful of their time. Now, 102 years later, the history book asks us, whether we know what eventually became.
The answers:
1. The president of the largest steel company. Charles Schwab, A pauper died.
2. The president of the largest gas company, Edward Hopson, went crazy
3. The president of the NYSE, Richard Whitney, was released from prisonTo die at home.
4. The largest wheat speculant, Arthur Cooger, died abroad, desirability.
5. The president of the Bank of International Settlement, shot himself.
6. The Great Bear of Wall Street, Jesse Livermore, Also committed suicide.
However: in the same year, 1923, the PGA champion and the winner of the most important golf tournament, the US Open, Gene Sarazen.
What has become of him?
He played golf until he was 92 and died in 1999 at the age of 95. He was financially safe at the time of his death.
The Moral: Screw Work.Play Golf!
(H/T: Sam I am)
Squirrel
We caught this squirrel and try his Halloween costume on our back garden wall. You have to admit that the costume can fool everyone by thinking that it is actually a Havik of Cooper who is looking for lunch …
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More useless news
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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
Let This week left me a note to complain about poor customer service that she recently received:
I spoke with three different managers and everyone said, “I’m sorry there is nothing that I can do for you.”
Yes. Now you know why they are managers.
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
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