{"id":38621,"date":"2016-08-06T05:15:08","date_gmt":"2016-08-06T12:15:08","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=38621"},"modified":"2023-10-28T08:11:20","modified_gmt":"2023-10-28T15:11:20","slug":"black-coffee-next-time-please-phrase-that-in-the-form-of-a-question","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id38621-black-coffee-next-time-please-phrase-that-in-the-form-of-a-question.html","title":{"rendered":"Black Coffee: Next Time, Please Phrase That in the Form of a Question"},"content":{"rendered":"

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

The Honeybee has given me a long list of errands to run today, so I’ve got an espresso edition of Black Coffee for you this week.<\/p>\n

And away we go …<\/p>\n

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

Credit:<\/strong><\/span> This week the US Bureau of Labor reported that 255,000 new jobs were created in June. As a result, the US unemployment rate remained at a very impressive 4.9%<\/a>. Hooray!<\/p>\n

Debit:<\/strong><\/span> Unfortunately, as the Economic Cycle Research Institute notes, “The jobs recovery has been spearheaded by cheap labor<\/a>, with gains going disproportionately to the least educated — and lowest-paid — workers, many of whom have to work multiple jobs to make ends meet.” Hmmm.<\/p>\n

Debit:<\/strong><\/span> So … just how bad has the so-called “recovery” been? This<\/em> bad: Since 2014 the US has added a half-million bartenders and waiters — but zero net additional manufacturing jobs<\/a>. Yes, zero.<\/p>\n

Debit:<\/strong><\/span> Hey … You don’t think the lack of high-paying manufacturing jobs is one big reason why 15% of Americans currently have a negative net worth<\/a>, do ya? Naaaaaaaaaaah!!!!<\/p>\n

Debit:<\/strong><\/span> One thing I am<\/em> sure of: The lack of good jobs is a prime reason why the US is currently in the middle of the weakest economic recovery since 1949<\/a>. Then again, perhaps I’m being too much of a party pooper. After all, 67 years isn’t that<\/em> long ago. It’s not. Well … if you like the early bird specials at Denny’s, it’s not.<\/p>\n

Credit:<\/strong><\/span> Of course, Wall Street certainly doesn’t care about the woes on Main Street. Which partly explains why the S&P and Nasdaq both ended the week at all-time highs<\/a>. The question is: Is the market rising based on fundamentals, or is it getting a little, um, “help.” Uh huh. I’ll take “dumb questions” for $500, Alex.<\/p>\n

Credit:<\/strong><\/span> I see financial analyst Dave Kranzler just buzzed in with his answer: “The Fed is keeping the broad market indices from selling off<\/a>, but underneath there’s a whole world of stocks that are collapsing in price.” Correct!<\/p>\n

Credit:<\/strong><\/span> By the way, Dave also points out that stocks have been climbing despite deteriorating economic activity in the bellwether housing and automotive sectors — but that’s piling on. Besides, nobody likes a show-off.<\/p>\n

Debit:<\/strong><\/span> Truth be told, the stock market was hitting new highs last week too. Even so, Bank of America Merrill Lynch reported that the majority of its clients were net sellers<\/a> that week — dumping $1.9 billion worth of stocks across eight of ten sectors. So, to recap: terrible economic data, massive net selling, and higher stock prices. Welcome to the new normal, folks.<\/p>\n

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

I can’t believe I’ve only seen three of the top 10 movies of 2007. How many of these have you seen?<\/p>\n

1.<\/strong><\/span><\/span> Spider-Man 3 (US domestic gross: $336 million)<\/p>\n

2.<\/strong><\/span><\/span> Shrek the Third ($320 million)<\/p>\n

3.<\/strong><\/span><\/span> Transformers ($319 million)<\/p>\n

4.<\/strong><\/span><\/span> Pirates of the Caribbean: At World’s End ($309 million)<\/p>\n

5.<\/strong><\/span><\/span> Harry Potter and the Order of the Phoenix ($292 million)<\/p>\n

6.<\/strong><\/span><\/span> I Am Legend ($256 million)<\/p>\n

7.<\/strong><\/span><\/span> The Bourne Ultimatum ($227 million)<\/p>\n

8.<\/strong><\/span><\/span> National Treasure: Book of Secrets ($220 million)<\/p>\n

9.<\/strong><\/span><\/span> Alvin and the Chipmunks ($217 million)<\/p>\n

10.<\/span><\/span><\/strong> 300 ($211 million)<\/p>\n

Source: The Movie Times<\/a><\/em><\/p>\n

Insider Notes: The Freegold Paradigm<\/strong><\/p>\n

Hey! You need to be an Insider to view this section! If you’d like to join, please click “Insider Membership” at the top of my blog page.<\/em><\/p>\n

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

Are you ready for summer to be over yet?<\/p>\n