{"id":65524,"date":"2021-03-13T02:15:42","date_gmt":"2021-03-13T10:15:42","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=65524"},"modified":"2024-01-27T11:20:56","modified_gmt":"2024-01-27T19:20:56","slug":"black-coffee-13-mar-2021","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id65524-black-coffee-13-mar-2021.html","title":{"rendered":"Black Coffee: Inflate or Die"},"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 an enjoyable week. Without further ado, let’s get right to this week’s commentary …<\/p>\n

The Fed’s job is to know ‘when to remove the punch bowl at the party.’ Under Alan Greenspan’s leadership its motto became ‘let’s all get drunk and see what happens.’ It’s now the morning after and the world must deal with Greenspan’s hangover.<\/em><\/p><\/blockquote>\n

— Said Elias Dawlabani<\/strong><\/p>\n

Face reality as it is; not as it was, or as you wish it to be.<\/em><\/p><\/blockquote>\n

— Jack Welch<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? After six years of hyperinflation, Venezuela’s currency has lost 99.999% of its value. As a result, their central bank recently issued a one-million bolivar<\/a> banknote; in US dollars, that’s 52 cents. Keep in mind that a cup of coffee in the socialist paradise currently costs 2.8 million bolivars, which is 3000% more expensive than last year. Forward, amigos!<\/p>\n

\n

I don’t understand people who a) are concerned about the poor and b) are not concerned about inflation. Who do they think gets hit hardest when people lose confidence in the currency?<\/p>\n

Carlo Lancellotti (@_CLancellotti) March 11, 2021<\/a><\/p><\/blockquote>\n