{"id":31975,"date":"2015-06-27T05:15:49","date_gmt":"2015-06-27T12:15:49","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=31975"},"modified":"2023-12-03T18:22:57","modified_gmt":"2023-12-04T02:22:57","slug":"black-coffee-why-many-of-us-will-soon-have-to-do-more-with-less","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id31975-black-coffee-why-many-of-us-will-soon-have-to-do-more-with-less.html","title":{"rendered":"Black Coffee: Why Many of Us Will Soon Have to Do More With Less"},"content":{"rendered":"

\"\"<\/a>It’s time to sit back, relax and enjoy a little joe<\/em> …<\/p>\n

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.<\/p>\n

I was out of town for most of this past week. As a result, I’ve got a lot on my plate this weekend — which is why I am offering up an espresso edition of Black Coffee for you today. I know. But I’ll return next week with a standard full-serving fare. Scout’s honor.<\/p>\n

(No, I’m not a Boy Scout, but sometimes I play one on the Internet.)<\/p>\n

Okay, off we go …<\/p>\n

Credits and Debits<\/strong><\/p>\n

Debit:<\/strong><\/span> You know the stock market is deep into “irrational exuberance” territory when you consider that, on paper, Facebook is now worth more than WalMart<\/a> — even though WalMart’s revenues exceed Facebook’s earnings by more than 40 times. Um, can you say “Pets.com<\/a>“?<\/p>\n

Debit:<\/strong><\/span> On a somewhat related note, a new poll finds that 72% of Americans are afraid that an economic crash<\/a> is looming on the horizon. Hey … maybe I’m not as crazy as I thought. Oh, never mind. Yes, I am.<\/p>\n

Debit:<\/strong><\/span> In other news, the US Congress approved fast-track authority<\/a> for President Obama’s trade agenda, including the Trans-Pacific Partnership (TPP) — also known as “Obamatrade” — which he is currently negotiating with 11 other Pacific Rim nations.<\/p>\n

Debit:<\/strong><\/span> According to Senator Jeff Sessions (R-Alabama), Obamatrade will transform America into another version of the European Union, forcing the US to cede its sovereignty<\/a> on trade matters to an unelected self-governing regulatory commission. (As if we didn’t already have enough of those to deal with.)<\/p>\n

Debit:<\/strong><\/span> More specifically, the Center for Immigration Studies says Obamatrade would permit an international tribunal to “greatly expand access<\/a> for foreign workers in dozens of occupations including engineering, veterinary medicine, construction, hotel and restaurant work, transportation, and recreation.” If that doesn’t send a chill down your spine, it should.<\/p>\n

Credit:<\/strong><\/span> Then again, if Obamatrade is even half as successful in the trade department as Obamacare has been at improving America’s healthcare system<\/a>, then I’m not sure what everyone is so worried about. Oh, wait …<\/p>\n

Debit:<\/strong><\/span> Unfortunately, foreign workers have this nasty habit<\/a> of depressing American wages — which is why it boggles the mind that any US politician would ever<\/em> willingly push for a larger foreign workforce within his national borders. With friends like them, who needs enemies?<\/p>\n

Debit:<\/strong><\/span> After all, according to a recent study, more Americans than ever are now delaying major life events such as retiring, getting married, and having children because of money worries<\/a>; 51% to be exact. Don’t worry though — more foreign workers will fix that.<\/p>\n

Debit:<\/strong><\/span> In fact, 22% of Americans said money issues caused them to put off buying a home in 2015, compared to just 14% in 2007. Unfortunately, as Zero Hedge notes, more than 25%<\/a> of all US renters now pay at least half of their income for housing. I’m sure more foreign workers will fix that too.<\/p>\n

Debit:<\/strong><\/span> According to MarketWatch<\/a>, there are now 70 million Americans “teetering on the edge of financial ruin.” Just wait until they find out that they’re this close<\/em> to losing their job to a foreigner who will happily work here for lower wages. Well, that’s assuming they have<\/em> a job.<\/p>\n

By the Numbers<\/strong><\/p>\n

Here are few more results from that recent study on the effect of Americans’ finances on their buying habits:<\/p>\n

13%<\/strong><\/span><\/span> Americans whose finances is forcing them to delay having a child in 2015.<\/p>\n

5%<\/strong><\/span><\/span> Respondents in 20o7 who delayed having a child for financial reasons.<\/p>\n

12%<\/strong><\/span><\/span> US citizens who are delaying marriage in 2015.<\/p>\n

5%<\/strong><\/span><\/span> Americans who delayed getting married in 2007 due to financial constraints.<\/p>\n

18%<\/strong><\/span><\/span> Americans who are delaying retirement this year because they’re worried about money.<\/p>\n

9%<\/strong><\/span><\/span> Respondents in 2007 who delayed retirement for the same reason.<\/p>\n

60%<\/strong><\/span><\/span> People who are delaying a major life event this year because of a lack of savings.<\/p>\n

50%<\/strong><\/span><\/span> Folks who are delaying a major life event in 2015 because they are worried about the economy.<\/p>\n

Source: New York Times<\/a><\/em><\/p>\n

The Question of the Week<\/strong><\/p>\n

[poll id=\"67\"]<\/code><\/p>\n

Last Week’s Poll Results<\/strong><\/p>\n

Would you try to avoid flying on any airline that charges a fee for soft drinks, juice, coffee and tea?<\/p>\n