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MOB #42 – iPhone, State of the Economy, & What You Can Do

August 13th, 2008 · podcasts

Gas Price Update: 4.159

First, we talk about David’s new iPhone, why he bought it and why financially it was a good choice for him. After that round of justifications, albeit rational ones, we delve into the current state of the economy.

We talk about what the federal reserve has done, how consumer credit debt and personal incomes went up while oil prices went down.

We discuss how the dollar gained against worldwide currencies and why Dustin Reid thinks it did so.

In the financial sector, we discuss the problems the horrible quarterly loss that Fannie Mae reported, which was more than triple what analysts were expecting, reflects ongoing deterioration in housing market conditions.

Then with all this turmoil that is roiling the economy as of late, we discuss some things that you can do right now that will help to keep you on the right track to becoming a millionaire.

Unfortunately, not everyone is on the right track, so we discuss how many Americans have inadequate emergency funds and we quote some statistics from a money.cnn.com article. We also look at HELOCs (Home Equity Lines of Credit), which some people use instead of emergency funds and we state why that might not be a good idea with a one, two punch of examples from news.yahoo.com.

Since you’re all going to forsake your HELOCs and make sure your emergency funds are properly funded and placed, we discuss appropriate places to keep your emergency funds.

Next, we discuss issues that are afflicting Countrywide, Bank of America and Citigroup which could impact their customers in the future.

Then we take a peak internationally to see how other countries are faring and how our economies are intertwined. We look at inflation in a couple countries and the world-wide banking crisis and it’s impact on international financial markets.

Then we wrap up with some feedback from Matt in Seattle.

For those that have their finances in place, but are looking to tune up their health as well, we put in a plug for Talli’s excellent health podcast Being Healthy for Busy People.

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