{"id":68206,"date":"2021-08-14T02:15:46","date_gmt":"2021-08-14T09:15:46","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=68206"},"modified":"2021-08-17T09:01:37","modified_gmt":"2021-08-17T16:01:37","slug":"black-coffee-14-aug-2021","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id68206-black-coffee-14-aug-2021.html","title":{"rendered":"Black Coffee: Bubble Trouble On the Double"},"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

Who controls money can control the world.<\/em><\/p><\/blockquote>\n

— Henry Kissinger<\/strong><\/p>\n

The ironic truth of the current bubble is this: it’s not the effectiveness of Fed policy that rules out market losses. Rather, it’s the willingness of speculators to rule out market losses that makes Fed policy effective.<\/em><\/p><\/blockquote>\n

— John Hussman<\/strong><\/p>\n

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

Credit:<\/strong><\/span> Did you see this? An unprecedented 1 million new job positions opened up last month. In fact, more than 3.3 million new openings have appeared in the past six months, with every single month of 2021 seeing an increase in job openings — that’s the longest such stretch<\/a> in history. Hooray!<\/p>\n

Debit:<\/strong><\/span> Now for the punchline: There have been so many job requisitions posted by employers that there are now 1.4 million<\/strong><\/em> more job openings than people classified as “officially” unemployed. No, really<\/a>. And if you think that’s<\/strong><\/em> crazy, then you haven’t seen this:<\/p>\n