{"id":69060,"date":"2021-10-09T02:15:14","date_gmt":"2021-10-09T09:15:14","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=69060"},"modified":"2021-10-12T09:14:13","modified_gmt":"2021-10-12T16:14:13","slug":"black-coffee-9-oct-2021","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id69060-black-coffee-9-oct-2021.html","title":{"rendered":"Black Coffee: Carnac and the Cookie Monster"},"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

This edition brought to you by the number 28 and the letter T. Courtesy of our $28 trillion National Debt<\/a>.<\/p>\n

I hope everybody had an enjoyable week. Without further ado, let’s get right to this week’s commentary …<\/p>\n

It’s incredible where you can go with your imagination.<\/em><\/p><\/blockquote>\n

— Elmo<\/strong><\/p>\n

Today me will live in the moment — unless it’s unpleasant, in which case me will eat a cookie.<\/em><\/p><\/blockquote>\n

— Cookie Monster<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? When measured in terms of cost\/per BTU, the benchmark European natural gas price surged on Tuesday to a new all-time high of 106.3 euros per MW-h, equivalent to $36 per MMBtu which is also the energy equivalent to oil at $230 per barrel<\/a>. Later in the week, panic ensued and natural gas prices climbed another<\/strong><\/em> 60%<\/a> — to the energy equivalent oil price of more than $350 per barrel of oil. Ouch.<\/p>\n

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Credit:<\/strong><\/span> Meanwhile, the grousing about taxing unrealized capital gains continues. Anthony Davies points out that the median US home price “shot up 14% in the past year, so the median homeowner would get socked with a $7000 unrealized gains tax bill<\/a> simply because his house was worth more than the year before.” He also says with the average 401(k) worth $135,000<\/a> — and earning $13,000 in unrealized gains — that would add an additional<\/strong><\/em> $2000 in taxes. And, no; there is no refund if the market tanks the following year. So you may want to think about getting a bigger “sharing” jar …<\/p>\n