On this episode of Millionaire or Bust, we dive right in with an update on the state of the recession. And yes we’ve been in a recession for a year now according to the announcement by the NBER. Of course, that was obvious to everyone who saw that Georgia Community Bank became the 23rd bank to fail this year and that employers cut 533K jobs in November, which is the most since 1974.
Of course, the fact that November auto sales sank to the worst level since 1982 might have been a clue as well. So, we discuss that as well as the UAW’s agreement to make concessions to help automakers, which must have been helpful because it preceded President Bush and the Democrats reaching a deal to extend enough aid to tide the automakers over until the next President takes office.
Then we discussed Obama revealing his five part job-creation plan.
Since the show was feeling a bit too heavy, we discussed PNC Financial Services Group’s Index of ‘The Twelve Days of Christmas’. Unfortunately the song items’ cost rose 10.9% in 2008 and yes we did sing…badly. So if you need a laugh, this might be the part of the show designed for you. Maybe next time we need to practice first.
Then we discuss an article that details how you can use this down economy to your advantage, to get the home remodeling that you’ve put off for cheaper.
Before we end the show, we listen to some feedback from Bill from Ohio about the idled GM workers.
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