{"id":38387,"date":"2016-07-23T05:15:46","date_gmt":"2016-07-23T12:15:46","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=38387"},"modified":"2025-02-15T09:29:07","modified_gmt":"2025-02-15T17:29:07","slug":"black-coffee-the-greatest-lie-ever-told-and-other-fish-stories","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id38387-black-coffee-the-greatest-lie-ever-told-and-other-fish-stories.html","title":{"rendered":"Black Coffee: The Greatest Lie Ever Told — and Other Fish Stories"},"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

Okay, off we go …<\/p>\n

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

Credit:<\/strong><\/span> I see McDonald’s has stopped selling Big Macs<\/a> in the People’s Socialist ParadiseTM<\/sup> of Venezuela. Apparently, they’re having trouble sourcing the middle bun that’s used to separate those two all-beef patties from each other. And you thought their national TP shortage was a travesty.<\/p>\n

Debit:<\/strong><\/span> Then again, considering that a measly serving of McDonald’s fries sells there for around $133<\/a> at the official government exchange rate, it probably doesn’t matter anyway. No, I didn’t forget a decimal point.<\/p>\n

Credit:<\/strong><\/span> And things will only get worse for Big Mac lovers in Venezuela next year because the inflation rate is expected to top 1640%<\/a>. Prolly no big loss; who would pay $8000 for two all-beef patties, special sauce, lettuce, cheese, pickles, and onions on a sesame seed bun? Heck, I won’t even pay $3.99.<\/p>\n

Credit:<\/strong><\/span> Socialist economic fairy tales aren’t only crumbling in Venezuela; they’re being exposed in the US too. It turns out yet another Obamacare exchange went out of business<\/a> this week. For the record, 16 of 23 exchanges have now officially flatlined, putting Obamacare one step closer to oblivion. Nope. Nobody ever saw that<\/em> coming. No, siree.<\/p>\n

Debit:<\/strong><\/span> Well … at least Americans who liked their doctor got to keep their doctor<\/a> — while enjoying those annual $2500 premium reductions<\/a>. Oh, wait …<\/p>\n

Credit:<\/strong><\/span> Those fables are doozies but, if you ask precious metals expert Ted Butler, neither are the greatest lie ever told<\/a>. He says that dubious distinction belongs to the Commodity Futures Trading Commission’s claim that the silver market isn’t manipulated. He has a point.<\/p>\n

Credit:<\/strong><\/span> After all, silver is<\/em> currently selling for 86% less than it did in 1980 on an inflation-adjusted basis — despite the National Debt growing 20-fold over that same period. (Psst. Maybe you should consider getting some.)<\/p>\n

Debit:<\/strong><\/span> Meanwhile, more than 1000 men slept on the streets of New York City this week for a chance at landing a few plumber jobs<\/a> that pay between $40 and $67 an hour. You’d think in a, um, “booming” economy employers would have trouble finding potential applicants.<\/p>\n

Credit:<\/strong><\/span> Maybe those would-be pipe-fitters should consider a career in manufacturing instead because, if the latest data is to be believed, manufacturing payrolls surged<\/a> at the fastest pace in 12 months and new business expanded at the fastest clip since last November. Hooray!<\/p>\n

Debit:<\/strong><\/span> If that good news is true, then the Fed has absolutely no excuses<\/a> — none, zilch, 0.0, nada<\/em> — for avoiding a tiny 25-basis-point interest rate hike at their next meeting. But they will. So connect the dots, dear readers.<\/p>\n

Debit:<\/strong><\/span> Those of you who enjoy having politicians and bankers blow smoke up your backside can continue living life with your head in the sand. The truth is, the Fed can’t raise interest rates to any appreciable degree because the global financial system is now breaking down<\/a> at an almost unimaginable pace.<\/p>\n

Debit:<\/strong><\/span> Mathematically, the current system is doomed to failure<\/a>. That’s bad news if you plan on relying on a pension in retirement — public or private.<\/p>\n

Credit:<\/strong><\/span> Don’t think that the central banks aren’t aware that the international monetary system is on its last legs; they most certainly are. Once you accept this, the fact that they’re committing collective financial suicide<\/a> begins to make sense. Well … in a twisted sort of way.<\/p>\n

Credit:<\/strong><\/span> Needless to say, the only way to extricate ourselves from the economic mess we find ourselves in is by repudiating the massive debt<\/a> and impossible financial promises that have been made over the years, coupled with a return to sound money.<\/p>\n

Credit:<\/strong><\/span> Of course, that will bring out the torches and pitchforks<\/a> — which is why the bankers and politicians will muddle on until the current system finally goes belly-up. Unfortunately for them, time is no longer on their side.<\/p>\n

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

The Pokemon GO craze makes me embarrassed to be a part of the human race, but this too shall pass. Read on to find out just how big it is:<\/p>\n

3<\/strong><\/span><\/span> Weeks since Pokemon GO was originally released to the public.<\/p>\n

10.8<\/strong><\/span><\/span> Percentage of all US smartphones that had the app installed on them during the first two weeks.<\/p>\n

72,999<\/strong><\/span><\/span> Number of times the smartphone app has been downloaded in the last 15 minutes.<\/p>\n

$163,099<\/strong><\/span><\/span> Earnings the game developer pocketed during the same 15 minute period.<\/p>\n

$15,657,504<\/strong><\/span><\/span> The game developer’s estimated daily earnings.<\/p>\n

Source: Silicon Angle<\/a><\/em><\/p>\n

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

[poll id=\"121\"]<\/code><\/p>\n

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

What is your favorite personal finance board game?<\/p>\n