{"id":91996,"date":"2026-10-17T01:00:19","date_gmt":"2026-10-17T08:00:19","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=91996"},"modified":"2026-10-15T11:14:44","modified_gmt":"2026-10-15T18:14:44","slug":"black-coffee-17-oct-2026","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id91996-black-coffee-17-oct-2026.html","title":{"rendered":"Black Coffee: Something for Nothing"},"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

Well\u2026 another busy week is behind us. So with that in mind, let\u2019s get this party started!<\/p>\n

Those who try to get something for nothing generally wind up getting nothing for something.<\/em><\/p><\/blockquote>\n

\u2013 Napoleon Hill<\/strong><\/p>\n

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

Credit:<\/strong><\/span> Did you see this? This year, the average net worth of households led by someone aged 65 to 74 is $1.8 million<\/a>. On the one hand, that means you could be a literal millionaire and still be considered just average. On the other, because the figure is an average and not the median, the value is skewed higher by the ridiculously wealthy. For example, in 2026 you’d need a net worth of $3 million to make the top 10% of individuals aged 65-69, $6.8 million to qualify for the top 5% and $22 million to belong in the top 1%. Meanwhile, there are still esteemed economically-literate politicians who are continually fighting to ensure that America’s prosperity is spread more equally amongst the citizenry…<\/p>\n

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h\/t: @Paul_221144<\/p><\/div>\n

Debit:<\/strong><\/span> Of course, no one ever got rich earning the minimum wage. After Seattle raised theirs to $20.76 two years ago, 450 restaurants in the Emerald City shut their doors within six months. As one restaurant owner put it, “If servers are making $20 an hour, then I gotta pay the cooks $35.\u201d Ya think? Then consider that wages for other<\/strong><\/em> skilled professionals also increased to account for the newly-imposed higher entry-level salary \u2013 more evidence that interfering with free markets doesn’t<\/strong><\/em> work. Even so, Seattle\u2019s clueless socialist policymakers have decided to \u2013 yet again \u2013 raise its minimum wage in 2027; this time to $22.14<\/a>. So don\u2019t be surprised if Seattle only has a handful of open restaurants by next summer. Meanwhile, in the housing market…<\/p>\n

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Scott Adams – Dilbert<\/p><\/div>\n

Credit:<\/strong><\/span> Speaking of the housing market, we have another sign suggesting that it may<\/strong><\/em> be finally rolling over<\/a>\u00a0\u2013 which would be welcome news for first time buyers struggling with affordability. The latest housing market data shows that US home prices trailed inflation in 27 of the 50 largest metros on a year-over-year basis, including 13 where prices fell outright. Nationally, home prices rose just 1.4% while the \u201c official” inflation rate climbed 2.4% \u2013 although we know the inflation figure is actually far higher.<\/p>\n

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Credit:<\/strong><\/span> Meanwhile, over on Wall Street, the S&P 500 is up 13% year-to-date and hovering near all-time highs. However, its median component is up only 3%, while 440 of its 500 companies are down more than 20%<\/a> from their 52-week highs. This prompted macro analyst Matthew Piepenberg to point out that, “Rather than a stock market, we have a concentrated minority of tech monopoly powers holding the rest of the broken pack together with techy duct tape and memes of ‘this time is different with AI.\u2019\u201d Does anybody else see a problem here? No? Okay\u2026 well then, how about here:<\/p>\n