{"id":67728,"date":"2021-07-17T02:15:30","date_gmt":"2021-07-17T09:15:30","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=67728"},"modified":"2023-05-12T10:49:21","modified_gmt":"2023-05-12T17:49:21","slug":"black-coffee-17-july-2021","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id67728-black-coffee-17-july-2021.html","title":{"rendered":"Black Coffee: The Printer and the Piper"},"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 terrific week. With the hardest part of it over, let’s get right to this week’s commentary …<\/p>\n

Government cannot make man richer — but it can make him poorer.<\/em><\/p><\/blockquote>\n

— Ludwig von Mises<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? Wells Fargo just announced that it’s shutting down all existing personal lines of credit<\/a>; a popular product offered by the retail-focused Wall Street giant. Perhaps not surprisingly, many analysts say this suggests that Wells Fargo believes the economy is teetering on the edge of a sharp downturn. We’ll see. As for why<\/strong><\/em> the economy may be on, well … let’s call it “shaky ground” … Fed chair Jerome Powell has the answer:<\/p>\n

\"\"<\/p>\n

Debit:<\/strong><\/span> Keep in mind that closing unused lines of credit can have a negative impact on one’s credit score<\/a> — and significantly so if the line represented a large percentage of the customers total overall credit. But I’m sure a lot of people who ended up getting their Wells Fargo personal credit lines cancelled won’t figure that out for quite some time — if at all. Unlike like this<\/em><\/strong> head scratcher:<\/p>\n