{"id":64254,"date":"2020-12-26T02:15:20","date_gmt":"2020-12-26T10:15:20","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=64254"},"modified":"2020-12-29T07:03:34","modified_gmt":"2020-12-29T15:03:34","slug":"black-coffee-26-dec-2020","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id64254-black-coffee-26-dec-2020.html","title":{"rendered":"Black Coffee: When Zero Is Your Hero"},"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

I hope everybody had a joyous Christmas! Next up … the New Year. Until then, on to this week’s financial commentary …<\/p>\n

The rich invest their money and spend what is left. The poor spend their money and invest what is left.<\/em><\/p><\/blockquote>\n

— Robert Kiyosaki<\/strong><\/p>\n

Ring out the false; ring in the true.<\/em><\/p><\/blockquote>\n

— Alfred Lord Tennyson<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? A recent study found that there are six million people on the Social Security rolls who are 112 or older<\/a> — even though there are currently fewer than 40 those people in the entire world. As a result, the government’s failure to do something as simple as verifying death has cost US taxpayers $2.8 billion over the last four years alone. Imagine that.<\/p>\n

Debit:<\/strong><\/span> In other news, although movie theaters were struggling before a pandemic that only magnified their troubles, they’re now having to deal with yet another blow<\/a>: ‘straight to streaming’ movies. That’s because Disney announced that 80% of their new titles will be bypassing the box office from now on. Which means theaters are going to be in a precarious position heading into 2021 — regardless of what happens with the pandemic.<\/p>\n

Debit:<\/strong><\/span> With that in mind, this week US lawmakers approved a $900 billion COVID “relief” bill that includes a $600 direct payment<\/a>, and a $300 federal unemployment benefit boost. Then the President announced he would veto it — and for good reason: It turns out that the majority of the bill was shameless pork<\/a> that was only going to benefit those with tight connections to the politicians and lobbyists in DC. In other words …<\/p>\n