{"id":67936,"date":"2021-07-31T02:15:56","date_gmt":"2021-07-31T09:15:56","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=67936"},"modified":"2021-08-02T17:21:49","modified_gmt":"2021-08-03T00:21:49","slug":"black-coffee-31-july-2021","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id67936-black-coffee-31-july-2021.html","title":{"rendered":"Black Coffee: Truth or Consequences"},"content":{"rendered":"

\"hurricane-flags\"<\/a>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

Another busy week is crossed off the list. So without further ado, let’s get right to the commentary …<\/p>\n

It’s difficult to get a man to understand something when his salary depends on his not understanding it.<\/em><\/p><\/blockquote>\n

— Upton Sinclair <\/strong><\/p>\n

Some people think the truth can be hidden with a little cover-up and decoration. But as time goes by, what is true is revealed, and what is false fades away.<\/em><\/p><\/blockquote>\n

— Ismail Haniyeh<\/strong><\/p>\n

Sooner or later everyone sits down to a banquet of consequences.<\/em><\/p><\/blockquote>\n

— Robert Louis Stevenson<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? Supply constraints and increased demand drove the average price of a new car in the US to $41,044 in July — an all-time high<\/a> that’s being blamed on a lack of inventory. Just how bare are<\/strong><\/em> US car lots at the moment? Well … dealers currently have roughly 932,000 new vehicles for sale nationwide, compared with more than 3 million during the same period in 2019.<\/p>\n

Debit:<\/strong><\/span> On a related note, the Wall Street Journal<\/em> says, as a result of the auto inventory shortages, “some car owners are finding their vehicles are worth as much — if not more — than they originally paid for them. And certain popular preowned models, such as the Kia Telluride and Toyota Tundra, are regularly selling for thousands of dollars more<\/a> than the list prices of the brand-new versions.” Huh. I guess that means we can now ignore the “cars are a depreciating asset” meme.<\/p>\n

\n

Correct. 👊🏻 Fact.. a client noted, a 24-month old Ford F350 pickup (that’s been driven to AK and back) sold for $70k new. Dealer recently called the client’s relative, offered the same $70k to buy it back. Truck buybacks sponsored by JayPo and Co.<\/p>\n

Gratke Wealth, LLC (@GratkeWealth) July 24, 2021<\/a><\/p><\/blockquote>\n