{"id":55439,"date":"2019-06-29T02:15:43","date_gmt":"2019-06-29T09:15:43","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=55439"},"modified":"2024-05-25T10:31:50","modified_gmt":"2024-05-25T17:31:50","slug":"black-coffee-29-june-2019","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id55439-black-coffee-29-june-2019.html","title":{"rendered":"Black Coffee: Mutinous Markets Have Forced the Fed to Walk the Plank"},"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 hope everybody had a great week. I know I did. Of course, I love weekends even better, so let’s dig right in and then I’ll get mine started.<\/p>\n

‘The time has come,’ the Walrus said,
\n‘To talk of many things:
\nOf shoes, and ships, and sealing-wax.
\nOf cabbages, and kings,
\nAnd why the sea is boiling hot,
\nAnd whether pigs have wings.’<\/em><\/p><\/blockquote>\n

— from Alice’s Adventures in Wonderland<\/em> by Lewis Carroll<\/strong><\/p>\n

The more the plans fail, the more the planners plan.<\/em><\/p><\/blockquote>\n

— Ronald Reagan<\/strong><\/p>\n

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

Credit:<\/strong><\/span> Did you see this? The average age of cars and trucks<\/a> in the US is now at an all-time high: 11.8 years. The oldest vehicles are in the Western states (12.4 years), while in the Northeast the average age is 10.9 years. Montana has the cars with the oldest average age (16.6 years), while Vermont has the youngest (9.9 years). The bad news is the age of the average car loan<\/a> is also at an all-time high: 5.8 years.<\/p>\n

Debit:<\/strong><\/span> In other news, last weekend President Trump declared that the ability to demote Fed Chair Jay Powell was his prerogative. He then followed that up with a couple of tweets explaining his thoughts as to how the Fed — but more specifically Powell — has hurt the US economy:<\/p>\n

\n

….Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4s or even 5s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!<\/p>\n

Donald J. Trump (@realDonaldTrump) June 24, 2019<\/a><\/p><\/blockquote>\n