{"id":62369,"date":"2020-08-08T02:15:50","date_gmt":"2020-08-08T09:15:50","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=62369"},"modified":"2021-08-01T17:54:38","modified_gmt":"2021-08-02T00:54:38","slug":"black-coffee-8-aug-2020","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id62369-black-coffee-8-aug-2020.html","title":{"rendered":"Black Coffee: The Road to Perdition"},"content":{"rendered":"

\"\"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

Summer is here, but for most people on Main Street, the financial crisis rages on. Meanwhile, for the suits on Wall Street, there’s still plenty of money being made — whether it’s legitimate or not.<\/p>\n

And with that, let’s get to this week’s financial commentary …<\/p>\n

The man who promises everything is sure to fulfill nothing. And anyone who promises too much is in danger of using evil means to carry out his promises — and already on the road to perdition.<\/em><\/p><\/blockquote>\n

— Carl Jung<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? The latest government data shows shows just how reliant many Americans have become<\/a> on the government. It shows that government-sourced income such as unemployment benefits and welfare checks is still responsible for the income of more than a quarter of all Americans. No, really.<\/p>\n

Debit:<\/strong><\/span> Meanwhile, If you’re holding your pension with the Bank of Ireland, you’re now officially being charged<\/a> to keep it there; the bank is now imposing negative interest rates on all pension cash. In fact, the bank is currently charging minus<\/strong><\/em> 0.65% on all pension pots. By the way, if you think this will never happen in the US, then you probably think this is real too:<\/p>\n