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MOB #71 – Santa Claus Rally, Bank Mergers & Piggy Banks

January 5th, 2009 · podcasts

This is the first episode of Millionaire or Bust for 2009. We covered a lot of ground in this show. Even though the week on Wall St. was shortened for the second straight week, there was a lot of news.

We talked about the Santa Claus rally which led into the first day of trading on Wall Street helping the Dow close up above 9,000 for the first time since November. We also talked about oil and gas because, just like America is addicted to oil, we’re addicted to talking about the prices of oil and gas.

Then we got into the completion of the mergers of Bank of America with Merril Lynch and Wells Fargo with Wachovia.

With the economy being bad, we talked about two of the more popular purchases this holiday season, the piggy bank and the personal safe. Plus, we got into the potential for thousands of stores to disappear in ’09 due to the failure of some major big box retailers in 2008. Then we warned Macy’s shoppers about Macy’s reports of overcharging their customers’ debit cards for just under 2 hours on Saturday, December 20.

We also couldn’t miss discussing the $4 billion loans that both GM & Chrysler received last week. Then we talk about why now might be the best time to buy a car and how to decide which of Detroit’s cars and trucks are worth buying.

Since it’s a New Year, many of you might be making resolutions. If you want some tips on how to keep them, check out an article on Talli’s blog about “Achieving Your New Year’s Resolution.” It’s on Talli’s health site, BeingHealthy.tv, but it is applicable whether the resolution is health or finance related, so check it out if you’re interested.

If you enjoy Millionaire or Bust, please head on over to iTunes and give us a nice review. If you have some feedback on how to make the show better, shoot us an email and help us improve the show. We appreciate all your comments. Thanks for listening everyone!

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2 responses so far ↓

  • 1 Shawno // Jan 5, 2009 at 11:29 pm

    Jen refers to bank mergers as banks “eating” each other. And I thought credit cards were emergency funds??

  • 2 David // Jan 6, 2009 at 12:44 am

    You know, I think Jen has it just about right. It does feel like the banks are devouring each other lately. The big question is, how many more banks will be eaten before the big banks get full.

    As for the credit cards…I think too many people use them that way. If people don’t watch out though, that causes another emergency later that is much harder to get out of.

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