{"id":88984,"date":"2025-09-06T01:00:57","date_gmt":"2025-09-06T08:00:57","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=88984"},"modified":"2025-09-10T08:44:19","modified_gmt":"2025-09-10T15:44:19","slug":"black-coffee-6-sep-2025","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id88984-black-coffee-6-sep-2025.html","title":{"rendered":"Black Coffee: Flying High"},"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’ve got another busy weekend ahead of me, so let’s get right to this week’s commentary …<\/p>\n

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Those pieces of fiat paper \u2013 which should have been gold \u2013 are a token of honor; your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle, which is the root of money.<\/em><\/p>\n<\/blockquote>\n

\u2013 Ayn Rand<\/strong><\/p>\n

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

Credit:<\/strong><\/span> Did you see this? A recent op-ed piece in the New York Times<\/em> laments the decline of airport lounges<\/a>: long waits, sad buffets, and weak drinks that hardly justify the hype. Lounges used to be a perk reserved for business travelers, but now everybody is using them. As a result, there are long lines for access to what has become overcrowded gathering spots that do nothing to reduce stress, while offering substandard drinks and buffet fare. This is just more proof that when everyone is \u201cspecial\u201d then nobody is. Thankfully, airlines are quietly raising lounge costs in an attempt to bring back exclusivity and make lounges a place to relax with superb service.<\/p>\n

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h\/t: Mint<\/p><\/div>\n

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Debit:<\/strong><\/span> On Friday, the government’s Bureau of Labor Statistics (BLS) reported that the US added a paltry 22,000 jobs in August. But that wasn’t the worst of it \u2013 the BLS also revised its June figures, which showed a net loss<\/em><\/strong> of 13,000 positions for the month. That’s the first net jobs loss<\/a> for any month since 2020. Uh oh. The latest jobs data has pushed the odds of a September rate cut by the Fed to more than 95%. And speaking of odds…<\/p>\n

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Debit:<\/strong><\/span> On a related note, a new study by Stanford University found that workers who are just starting their careers between 22 and 25 face a disproportionate threat to job loss<\/a> from the widespread adoption of generative artificial intelligence (AI). In fact, on average young workers have experienced a 13% decline in employment in job sectors that are most vulnerable to AI replacement, with software developers between 22 and 25 seeing a 20% decline. Then again, the outlook is even worse for telemarketers…<\/p>\n