{"id":58663,"date":"2020-01-04T06:12:23","date_gmt":"2020-01-04T14:12:23","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=58663"},"modified":"2020-01-07T12:50:58","modified_gmt":"2020-01-07T20:50:58","slug":"black-coffee-4-jan-2020","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id58663-black-coffee-4-jan-2020.html","title":{"rendered":"Black Coffee: News That&#8217;s Guaranteed to Make Heads Explode"},"content":{"rendered":"<p style=\"text-align: left;\"><a href=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2015\/04\/black-coffee.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-31075\" src=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2015\/04\/black-coffee.jpg\" alt=\"black coffee\" width=\"275\" height=\"206\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2015\/04\/black-coffee.jpg 500w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2015\/04\/black-coffee-300x225.jpg 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2015\/04\/black-coffee-50x38.jpg 50w\" sizes=\"auto, (max-width: 275px) 100vw, 275px\" \/><\/a><em>It&#8217;s time to sit back, relax and enjoy a little joe &#8230;<\/em><\/p>\n<p>Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what&#8217;s been going on in the world of money and personal finance.<\/p>\n<p>Well &#8230; another glorious weekend is upon us, so let&#8217;s get this party started, shall we?<\/p>\n<blockquote><p><em>Insanity in individuals is something rare &#8212; but in groups, parties, nations and epochs, it&#8217;s the rule.<\/em><\/p><\/blockquote>\n<p style=\"text-align: right;\"><strong>&#8212; Friedrich Nietzsche<\/strong><\/p>\n<blockquote><p><em>There is no salvation in becoming adapted to a world which is crazy.<\/em><\/p><\/blockquote>\n<p style=\"text-align: right;\"><strong>&#8212; Henry Miller<\/strong><\/p>\n<p><strong>Credits and Debits<\/strong><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Several years ago, a Canadian man attempted suicide by throwing himself in front of a bus after he lost his life savings at a casino. And although he was seriously injured, the man survived. Incredibly, he somehow also managed to receive <a href=\"https:\/\/beta.windsorstar.com\/news\/local-news\/caesars-windsor-being-sued-for-allowing-gambler-to-lose-at-gambling\/wcm\/1e295456-ec67-4c3f-94cc-f668d3cb870f\/amp\/\" target=\"_blank\" rel=\"noopener noreferrer\">a hefty insurance payout<\/a> due to his self-inflicted injuries. I guess I need a new insurance company; mine seems to hassle me for even the smallest of claims.<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Anyway &#8230; despite the man&#8217;s good fortune, he used his windfall to fund <em><strong>another<\/strong><\/em> massive gambling loss; this time to the tune of $260,000. As a result, <a href=\"https:\/\/www.newsweek.com\/casino-sued-compulsive-gambler-letting-him-lose-260000-1479307\" target=\"_blank\" rel=\"noopener noreferrer\">the man is now suing<\/a> the Caesars Windsor Resort &amp; Casino as well as the Ontario Lottery &amp; Gaming Commission for his losses &#8212; plus roughly $381,000 in punitive damages. Heh. In today&#8217;s upside-down world, that makes perfect sense. He&#8217;ll probably win too.<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Speaking of upside down, after its stock hit $433 per share last week, <a href=\"https:\/\/www.zerohedge.com\/markets\/tesla-now-bigger-daimler-bmw-gm-and-ford-and-about-catch-worlds-largest-automaker\" target=\"_blank\" rel=\"noopener noreferrer\">Tesla&#8217;s market cap<\/a> surpassed Hyundai, Ford, General Motors, BMW, Toyota, <em><strong>and<\/strong><\/em> Daimler. It&#8217;s true. And if you believe the stock market, Tesla is now also &#8220;bigger&#8221; than Hyundai and General Motors <em><strong>combined<\/strong><\/em>, which sold 7.6 million cars between them in 2018. By the way, Tesla only sold about 350,000 cars in 2019. I know; but I&#8217;m sure there&#8217;s a good explanation why investors value Tesla so richly. Or not &#8230;<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/clKi92j6eLE?controls=0&amp;start=2\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span style=\"color: #008000;\"><strong>Credit:<\/strong><\/span> Of course, Tesla isn&#8217;t the <em><strong>only<\/strong><\/em> company with an absurd market valuation. Asset manager Sven Henrich observes that the market cap of Apple and Microsoft exceeds the entire market cap of Germany. Yes, <em><strong>that<\/strong><\/em> Germany; the fourth-largest economy in the world. And that&#8217;s why <a href=\"https:\/\/northmantrader.com\/2019\/12\/28\/aapl-correction\/\" target=\"_blank\" rel=\"noopener noreferrer\">just five stocks<\/a> (Apple, Microsoft, Amazon, Facebook and Google) were responsible for <em><strong>half<\/strong><\/em> of the Nasdaq&#8217;s big returns in 2019. Yep. Perfectly normal.<\/p>\n<p><span style=\"color: #008000;\"><strong>Credit:<\/strong><\/span> So much cash has flowed into Apple stock that it has also been the single largest contributor to the gains of every stock market index in which it is included &#8212; but none more than the Nasdaq, where Apple stock alone has contributed nearly 20% to the technology index&#8217;s gain:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24NDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$NDX<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24QQQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$QQQ<\/a> 1 yr rolling attribution. Top 2 stocks attributed 35% of the gain and top 5 over 50% of the gain. <a href=\"https:\/\/t.co\/xfnTYzbKZ3\">pic.twitter.com\/xfnTYzbKZ3<\/a><\/p>\n<p>Thomas Thornton (@TommyThornton) <a href=\"https:\/\/twitter.com\/TommyThornton\/status\/1209497946686922752?ref_src=twsrc%5Etfw\">December 24, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Ready for more market insanity? According to Bloomberg, 40% of public stocks quoted in the US today <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2019-12-23\/worthless-companies-are-decade-s-big-market-winners\" target=\"_blank\" rel=\"noopener noreferrer\">lack enough tangible assets<\/a> to repay all their debt &#8212; so, technically, those stock certificates aren&#8217;t worth the paper they&#8217;re written on. Even so, a &#8216;negative-value&#8217; fund, composed of companies with negative tangible book value, would have beaten the US stock market by 24% over the last 20 years. Imagine that.<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Needless to say, the lunacy isn&#8217;t just limited to the stock market; it infected the entire financial system a long time ago, culminating in the Great Financial Crisis (GFC) in 2008 &#8212; which is when the madness <em><strong>really<\/strong><\/em> began to hit its stride. The Institute of International Finance (IIF) says <a href=\"https:\/\/www.reuters.com\/article\/us-global-markets-debt-idUSKBN1XP1FB\" target=\"_blank\" rel=\"noopener noreferrer\">global debt passed $255 trillion<\/a> in 2019 &#8212; and they expect it to continue growing. (Psst. Hey &#8230; IIF. It <em><strong>has<\/strong><\/em> to &#8230; otherwise our debt-based monetary system would implode.)<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> In fact, our post-GFC world has been racking up debt so rapidly that, from 2010 to 2018, the debt-to-GDP ratio of developing countries has <a href=\"https:\/\/www.zerohedge.com\/markets\/world-bank-warns-wave-debt-could-unleash-historic-crisis-crush-global-economy\" target=\"_blank\" rel=\"noopener noreferrer\">risen by more than half<\/a> to 168% &#8212; that&#8217;s a faster pace than during the Latin American debt crisis of the 1980s. Keep in mind that chronic <a href=\"https:\/\/www.thebalance.com\/debt-to-gdp-ratio-how-to-calculate-and-use-it-3305832\" target=\"_blank\" rel=\"noopener noreferrer\">debt-to-GDP ratios of 80%<\/a> were typically reserved for banana republics. Then again, using that criterion, <a href=\"https:\/\/tradingeconomics.com\/country-list\/government-debt-to-gdp\" target=\"_blank\" rel=\"noopener noreferrer\">the US has been a banana republic<\/a> for quite a while now. <em>(Insert your own joke here.)<\/em><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Meanwhile, the weight of America&#8217;s massive debt has crippled the US economy&#8217;s ability to create enough high-paying positions to appreciably expand its middle class. It&#8217;s so bad that more than 2 in 5 private sector jobs in America currently <a href=\"https:\/\/thehill.com\/opinion\/finance\/470769-americas-workers-continue-to-struggle-despite-strong-jobs-reports\" target=\"_blank\" rel=\"noopener noreferrer\">pay less than the average weekly US wage<\/a> of $793 &#8212; and many of those don&#8217;t offer health care or other benefits either. Sadly, that won&#8217;t change until our current monetary system dies.<\/p>\n<p><span style=\"color: #008000;\"><strong>Credit:<\/strong><\/span> For his part, macroeconomist Alasdair Macleod is warning that although &#8220;market participants don&#8217;t realize it yet, the dollar-based monetary system is <a href=\"https:\/\/www.goldmoney.com\/research\/goldmoney-insights\/bond-worries-and-gold\" target=\"_blank\" rel=\"noopener noreferrer\">spinning out of control<\/a>. This will become obvious (during) the crisis stage of the credit cycle, which we now appear to be entering.&#8221; It sure <em><strong>seems<\/strong><\/em> that way &#8212; although one should never underestimate the central banks&#8217; ability to keep the monetary-system plates spinning longer than anyone expects &#8230;<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/Zhoos1oY404?controls=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><strong>By the Numbers<\/strong><\/p>\n<p>With the Fed printing money like there&#8217;s no tomorrow, investing has become so easy that even a caveman could do it. Here are the total returns for select asset classes in 2019:<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>15.5%<\/strong><\/span><\/span> Silver<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>18.6%<\/strong><\/span><\/span> Gold<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>21.9%<\/strong><\/span><\/span> Dow Jones Industrials<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>24.0%<\/strong><\/span><\/span> Russell 2000<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>28.4%<\/strong><\/span><\/span> S&amp;P 500<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>35.0%<\/strong><\/span><\/span> Nasdaq<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>94.4%<\/strong><\/span><\/span> Bitcoin<\/p>\n<p><em>Source: <a href=\"https:\/\/www.zerohedge.com\/markets\/2019-year-buying-everything\" target=\"_blank\" rel=\"noopener noreferrer\">Zero Hedge<\/a><\/em><\/p>\n<p><strong>The Question of the Week<\/strong><\/p>\n<p><code>[poll id=\"301\"]<\/code><\/p>\n<p><strong>Last Week&#8217;s Poll Results<\/strong><\/p>\n<p>What is your current annual household income?<\/p>\n<ul>\n<li>More than $120,000 (37%)<\/li>\n<li>Less than $60,000 (32%)<\/li>\n<li>$60,000 &#8211; $120,000 (31%)<\/li>\n<\/ul>\n<p>More than 1900 Len Penzo dot Com readers responded this week&#8217;s question and it turns out that their financial status is pretty evenly split, which a very slight plurality going to the households earning more than $120,000 per year. As a point of comparison, the US median income in 2018 &#8212; that is, the midpoint-income among <strong><em>all<\/em><\/strong> American households &#8212; was <a href=\"https:\/\/www.census.gov\/library\/stories\/2019\/09\/us-median-household-income-up-in-2018-from-2017.html\" target=\"_blank\" rel=\"noopener noreferrer\">$61,937<\/a>.<\/p>\n<p>Hey &#8230; If you have a question you&#8217;d like to ask your fellow readers here, send it to me at <strong>Len@LenPenzo.com<\/strong> &#8212; and be sure to put &#8220;Question of the Week&#8221; in the subject line.<\/p>\n<p><strong>This Week&#8217;s Sponsor: Lose Weight and Make Money with HealthyWage<\/strong><\/p>\n<p><a href=\"https:\/\/www.pubtrack.co\/92QLN22\/86C3P2\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-58696\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2020\/01\/Healthywage.png\" alt=\"\" width=\"512\" height=\"250\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2020\/01\/Healthywage.png 512w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2020\/01\/Healthywage-300x146.png 300w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><\/a><\/p>\n<p>If you&#8217;ve made a New Year&#8217;s resolution to lose a few pounds in the coming months, then <em><strong>why not get paid for your effort?<\/strong><\/em><\/p>\n<p>My sponsor this month is HealthyWage. They&#8217;ve been a leading provider of wellness challenges for more than 10 years &#8212; both for corporations and direct consumers &#8212; by using cash prizes to make weight loss and fitness more fun and effective! Here&#8217;s how it works:<\/p>\n<ul>\n<li>The HealthyWager program is an innovative personal investment tool that allows customers to tie financial incentives to their own personal health goals &#8212; it&#8217;s the <strong><em>ultimate<\/em><\/strong> motivation!<\/li>\n<li>Simply set your weight loss goal &#8212; that is, how much you want to lose and how much time you want to lose it &#8212; and answer a few additional questions and then let the HealthyWage calculator reveal your prize.<\/li>\n<li>Then, if you hit your goal by the end of your challenge period, you win your prize. It&#8217;s easy!<\/li>\n<\/ul>\n<p>HealthyWage has an A+ rating by the Better Business Bureau and is the perfect motivator for those of you wanting to get healthier in 2020! To learn more, click the banner above, or <a href=\"https:\/\/www.pubtrack.co\/92QLN22\/86C3P2\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>click here<\/strong><\/a>.<\/p>\n<p><strong>Useless News: The New Year&#8217;s Party<br \/>\n<\/strong><\/p>\n<p>After a night of toasts and heavy drinking during a wild New Year&#8217;s Eve party at a local bar, Jerry was clearly in no shape to drive, so he sensibly left his van in the parking lot and walked home. Unfortunately, as he was stumbling along the street, Jerry caught the attention of a local policeman, who promptly pulled up alongside the very drunk man.<\/p>\n<p>&#8220;What are you doing out here at three o&#8217;clock in the morning?&#8221; asked the cop.<\/p>\n<p>&#8220;I&#8217;m on my way to &#8230; uh &#8230; a lecture,&#8221; Jerry slurred.<\/p>\n<p>&#8220;Oh, really?&#8221; inquired the constable sarcastically. &#8220;And who on earth, in their right mind, is going to give a lecture at this time on New Year&#8217;s Day?&#8221;<\/p>\n<p>&#8220;My wife,&#8221; said Jerry.<\/p>\n<p><em>(h\/t: Cowpoke)<\/em><\/p>\n<p><strong>More Useless News<\/strong><\/p>\n<p>Hey, while you&#8217;re here, please don&#8217;t forget to:<\/p>\n<p>1. Click on that <strong>Like<\/strong> button in the sidebar to your right and <a href=\"http:\/\/www.facebook.com\/LenPenzo\">become a fan of Len Penzo dot Com on Facebook<\/a>!<\/p>\n<p>2. Make sure you <a href=\"http:\/\/twitter.com\/LenPenzo\">follow me on Twitter<\/a>!<\/p>\n<p>3. <a href=\"mailto:lenpenzolist@aweber.com\">Subscribe via email<\/a> too!<\/p>\n<p>And last, but not least &#8230;<\/p>\n<p>4. <em><strong>Please support this website by patronizing my sponsors!<\/strong><\/em><\/p>\n<p>Thank you!!!!<\/p>\n<p><strong>Letters, I Get Letters <\/strong><\/p>\n<p>Every week I feature the most interesting question or comment &#8230; assuming I get one, that is. And folks who are lucky enough to have the only question in the mailbag get their letter highlighted here whether it&#8217;s interesting or not! You can reach out to me at: <strong>Len@LenPenzo.com<\/strong><\/p>\n<p>With every new year comes a time for resolutions and reflection. Perhaps that&#8217;s why <strong>Bella<\/strong> dropped this curious note into my inbox the other day:<\/p>\n<blockquote><p><em>I&#8217;ve got an iPhone. I&#8217;m beautiful. I wear expensive clothes. I&#8217;m smart, humble, and sexy. I drive myself to school. Yet he still doesn&#8217;t want me. Why?<\/em><\/p><\/blockquote>\n<p><span style=\"color: #0000ff;\">Beats me, Bella. Maybe he&#8217;s a Samsung guy.<\/span><\/p>\n<p>If you enjoyed this, please forward it to your friends and family. I&#8217;m Len Penzo and I approved this message.<\/p>\n<p style=\"text-align: right;\"><span style=\"font-size: smaller;\">Photo Credit: brendan-c<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s time to sit back, relax and enjoy a little joe &#8230; Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what&#8217;s been going on in the world of money and personal finance. Well &#8230; another glorious weekend is upon us, so let&#8217;s get this party started, shall we? Insanity in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":46694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[472],"tags":[],"class_list":{"0":"post-58663","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commentary","8":"pmpro-has-access","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Black Coffee: News That&#039;s Guaranteed to Make Heads Explode<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lenpenzo.com\/blog\/id58663-black-coffee-4-jan-2020.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Black Coffee: News That&#039;s Guaranteed to Make Heads Explode\" \/>\n<meta property=\"og:description\" content=\"It&#8217;s time to sit back, relax and enjoy a little joe &#8230; Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what&#8217;s been going on in the world of money and personal finance. Well &#8230; another glorious weekend is upon us, so let&#8217;s get this party started, shall we? 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