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MOB #65 – Volatility, Bailout Money & Holiday Sales

November 24th, 2008 · podcasts

On this episode of Millionaire or Bust, we have plenty to talk about. We start off by discussing how the DOW did this week and how President-Elect Obama’s
nominations for cabinet positions may have affected it.

We also discussed the still falling gas prices.

Then in banking news, we discussed three more bank failures, Citigroup’s slashing of 52,000 jobs, Genworth’s deal to buy a bank in a bid to receive TARP money and GMAC filing for bank holding status in order to get TARP money, as well.

Then of course, we had to discuss GM hitting it’s lowest price since the Great Depression and their desire of a bailout. Before we left the subject of GM, David had to get in a rant about how they earned their spot near bankruptcy.

Since Thanksgiving is coming up this Thursday and Black Friday, the biggest shopping day of the year follows it, we covered two stories. The first talked about how households intend to spend less this year on Christmas gifts than last year and how the sale of gift cards will also be down this year.

Happy Thanksgiving, everyone!

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3 responses so far ↓

  • 1 Maria Isabel // Nov 29, 2008 at 3:12 pm

    This economy is very hard on a lot of people. It is great to have someone trying to educate people on economic principals and doing it at such a level, that makes it easy to understand.
    My father worked for GM for many years and now that he is retired it is very worried about what lies ahead. Thanks.

  • 2 Shawno // Dec 30, 2008 at 12:04 am

    Jen likes gift cards. And she doesn’t really care for jewelery. But, she’s weird.

  • 3 David // Dec 30, 2008 at 12:26 am

    Well Shawno, she’s a good woman then. You hold onto her!

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