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MOB #49 – Financial Market Instability

September 22nd, 2008 · podcasts

On this episode of Millionaire or Bust, we try to shed a little light on the roller coaster ride that was the world’s financial markets for the past week. Everything was crashing at the beginning of the week, but had mostly rebounded by the end of the week, even if it still was a bit shaky.

We start off by giving a little wrap-up of what happened and where the price of oil was by the end of the week.

Then we cover a story from Reuters via globeinvestor.com that talked about the U.S. proposed bank asset buyout plan. To get a little more insight into how important our economy is to the world economy, we pull some numbers from an AFP article we found via news.yahoo.com that showed how global stocks soared as the US took steps to avert a collapse of the financial market.

All in all, it was a crazy week for the financial markets and was definitely one of the worst in our lifetime for stability. We’ll have to take a wait and see approach on how this will all shake out over the next few months.

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