{"id":37594,"date":"2016-06-11T05:15:47","date_gmt":"2016-06-11T12:15:47","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=37594"},"modified":"2024-01-31T08:43:51","modified_gmt":"2024-01-31T16:43:51","slug":"black-coffee-lousy-t-shirts-cheeseburgers-with-extra-lettuce","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id37594-black-coffee-lousy-t-shirts-cheeseburgers-with-extra-lettuce.html","title":{"rendered":"Black Coffee: Lousy T-Shirts & Cheeseburgers with Extra Lettuce"},"content":{"rendered":"

\"black<\/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

Let’s get right to it …<\/p>\n

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

Credit:<\/strong><\/span> In case you missed it, the current bull market in stocks became the second longest<\/a> in US history last month; the S&P 500 is up 212% since March 2009. Hooray!<\/p>\n

Debit:<\/strong><\/span> On the other hand, as Mike Maloney illustrates<\/a> with the Fed’s own data, all of those gains are directly attributable to the Fed’s massive money printing campaign over the same time period. Nonsense, you say? Then what is your<\/em> explanation for the correlation between the red and green lines here:<\/p>\n

\"Stocks<\/a><\/p>\n

Click to enlarge.<\/p>\n

 <\/p>\n

Debit:<\/strong><\/span> What’s truly<\/em> amazing is that stocks are still hovering near all-time highs despite a growing mountain of negative economic data, including the May jobs report which showed the worst job growth figures in six years<\/a> — approximately 100,000 jobs under what’s typically required to keep pace with population growth. Unbelievable.<\/p>\n

Debit:<\/strong><\/span> And if you think that’s<\/em> unbelievable, try this: Despite the awful jobs report, the “official” unemployment rate miraculously dropped to 4.7%. No, really<\/a>.<\/p>\n

Debit:<\/strong><\/span> The truth is, the US economic system is rotting and needs more and more lipstick<\/a> from Fed chair Janet Yellen to keep the ruse going. I know. Eat your heart out, CoverGirls<\/a>!<\/p>\n

Debit:<\/strong><\/span> Things can’t be good when nearly half of all Americans are currently unable to pay for a $400 emergency without borrowing or selling something. The writer who authored the report called those individuals “financially fragile<\/a>.” And while that’s clever … I’ve got a far-better alliterative adjective than “fragile.”<\/p>\n

Debit:<\/strong><\/span> Then again, who needs a job when you can simply own a house in Vancouver, Canada. Why do I say that, you ask? Because, as Zero Hedge wryly observes<\/a>: “Last year Vancouver homeowners made more cash from sitting on their assets than the entire city did by working.”<\/em> And you hosers thought San Francisco’s housing market was in bubble territory.<\/p>\n

Debit:<\/strong><\/span> Of course, just like the artificially puffed-up stock market, ridiculous housing prices everywhere<\/em> are a result of central bank money printing and a textbook example of how “free” money — or “free” healthcare, or “free” … well … anything else for that matter — leaves everyone poorer<\/a> in the long run.<\/p>\n

Credit:<\/strong><\/span> On the bright side, at least America has an awesome government-managed healthcare system. Well, it’s awesome if you don’t mind that premiums are rising faster than wages<\/a> — and aren’t worried that 13 of the 23 Obamacare exchanges have officially failed<\/a> …<\/p>\n

Debit:<\/strong><\/span> … or own a Che Guevara t-shirt.<\/p>\n

Credit:<\/strong><\/span> Speaking of Che … I see the proles in the People’s Socialist Paradise of VenezuelaTM<\/span><\/sup> — the same ones who voted to toss self-reliance out the window in favor of living off of other people’s money — are now standing in lines for scarce goods as long as seven hours<\/a> and, wait for it … they’re still<\/em> not getting what they need. Forward!<\/p>\n

Credit:<\/strong><\/span> Psst, hey, Pedro: Quien es John Galt<\/a>?<\/em><\/p>\n

Credit:<\/strong><\/span> Finally … Did you see this? A North Carolina man bit into a McDonald’s double cheeseburger and discovered a folded $20-bill<\/a> sandwiched between the two meat patties. Heh. It’s nice to see the Golden Arches courting those who insist they’ll only eat something off the menu if you pay them.<\/p>\n

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

How often do you typically barbecue during summertime?<\/p>\n