{"id":65794,"date":"2021-03-27T02:15:09","date_gmt":"2021-03-27T09:15:09","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=65794"},"modified":"2024-07-22T09:12:55","modified_gmt":"2024-07-22T16:12:55","slug":"black-coffee-27-mar-2021","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id65794-black-coffee-27-mar-2021.html","title":{"rendered":"Black Coffee: Attack of the Mendacious Money Monsters"},"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

Let’s get right to this week’s commentary, shall we?<\/p>\n

We create monsters and then we can’t control them.<\/em><\/p><\/blockquote>\n

— Joel Coen<\/strong><\/p>\n

The most difficult thing is the decision to act; the rest is merely tenacity. The fears are paper tigers.<\/em><\/p><\/blockquote>\n

— Amelia Earhart<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? More than 11 million families are at risk of losing housing when federal coronavirus eviction and foreclosure protections expire later this year; the Consumer Financial Protection Bureau found that a record 2.1 million homeowners are at least 90 days behind<\/a> on mortgage payments and 8.8 million households are behind on rent. And yet housing prices and rents are at all-time highs in many areas. As if that<\/strong><\/em> makes any sense.<\/p>\n

Debit:<\/strong><\/span> In other news, I see the supply chain turmoil is getting worse. At least it is if you peruse responses from the latest ISM manufacturing survey. Regarding electrical equipment, appliances and components, a respondent says, “Things are out of control; wide-scale shortages.” And a chemical manufacturer reports that, “Supply chains are depleted; inventories are empty, with increasing lead times, prices, and demand.” Too bad they can’t conjure real goods out of thin air like the US dollar.<\/p>\n

\n

Record prices paid & charged by US bizs. “IHS Markits flash mfg. PMI also showed supply shortages &shipping delays led to the longest delivery times in records back to 2007.” The talking Fed-heads won’t be able to underplay inflation realities much longer https:\/\/t.co\/yBfAGqPBUV<\/a><\/p>\n

fred hickey (@htsfhickey) March 24, 2021<\/a><\/p><\/blockquote>\n