{"id":70554,"date":"2022-01-08T02:15:58","date_gmt":"2022-01-08T10:15:58","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=70554"},"modified":"2023-03-14T16:07:21","modified_gmt":"2023-03-14T23:07:21","slug":"black-coffee-8-jan-2022","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id70554-black-coffee-8-jan-2022.html","title":{"rendered":"Black Coffee: Living the Highlife"},"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

The road to Easy Street goes through the sewer.<\/em><\/p><\/blockquote>\n

— John Madden<\/strong><\/p>\n

Never confuse investing genius with luck and a bull market.<\/em><\/p><\/blockquote>\n

— John C Bogle<\/strong><\/p>\n

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

Debit:<\/strong><\/span> Did you see this? The latest data from the Bureau of Labor Statistics shows that there were 3.7 million more vacant jobs than unemployed workers in November, confirming that the US labor market remains extremely broken<\/a>. But what’s more interesting to note is that 4.5 million people quit their jobs in November – that’s an all-time high. For those of you counting at home, most of the quits were in food services, health care & social assistance, transportation, warehousing, and the utility sector. So … are people just looking for higher paying jobs – or is Atlas finally starting to shrug?<\/p>\n

Debit:<\/strong><\/span> In other news, I see a new study is forecasting that the average price in the US for a gallon of gas will be close to $4 by June. If correct, that same study goes on to say that the average US household will spend $2341 on gasoline<\/a> in 2022, compared to $1977 last year – and that would be the most households spent on gasoline since 2014. Now imagine how much higher that figure would be if people were commuting as much as they did in 2014.<\/p>\n

\"\"<\/a><\/p>\n

Debit:<\/strong><\/span> If only Californians could be so lucky – with the average gasoline price<\/a> in the Golden State already<\/strong><\/em> sitting near $4.65, that same study says residents of Los Angeles and Sacramento can expect pump prices of $5.50 later this year – and $6 in the People’s Socialist Paradise of San Francisco. Fabulous. Welcome to my world<\/a>, folks.<\/p>\n

Debit:<\/strong><\/span> Speaking of high prices, after a decades-long run as one of the world’s best-performing stocks, Apple’s market value surpassed $3 trillion<\/a> on Monday, making it bigger than the combined economies of Northern Ireland and Great Britain – otherwise known as the United Kingdom. If that seems almost inconceivable, you’re not alone. On the other hand, it probably makes perfect<\/strong><\/em> sense to far too many people in today’s clown world …<\/p>\n