This is our last all news episode of Millionaire or Bust, at least for the foreseeable future. The next two weeks will be a two episode series about travel that we put together before taking off for some vacation. We wouldn’t leave you without content. After those two episodes, we’ll be changing the format back to a half and half mix of a topic and news, so you can look forward to that.
This week, we tore through quite a bit of news. We talked about the major layoffs that happened during the week and there were a lot of them. We also talked about how the unemployment numbers might not be so far off from those during the Great Depression as we previously thought. Not a happy thought, but it helps us to put things into perspective. And because it could lead to a lot more job losses, we talked about the fact that Circuit City needs to find a buyer by the end of the week, or they will probably have to go into liquidation. Then, because things weren’t gloom and doom enough, we talked about the suicide of German Billionaire, Adolf Merckle.
Then, because we figured we needed to find a silver lining to the financial crisis, we talked about the fact that homes are easier to get than ever because mortgage rates are at an all time low and there are houses in some parts of the country going for as low as under $1,000. And, if renting is more your thing, rents are down for the first time in 5 years. We also briefly mention that GM is likely to get the concessions necessary to qualify them for the loans the government is providing, which is good news if a lot of autoworkers don’t want to end up unemployed. We also talk about the fact that oil is back down at around $40/barrel, although gas prices have jumped up a little bit. We’re hoping that’s mostly related to the season.
Then we talk about some positive retail numbers. Although Costco’s numbers were announced in a negative light, we talk about how they are actually pretty positive. We also talked about the positive numbers posted by Walgreen’s and the surge in sales at thrift stores and resale shops around the country. And we couldn’t leave Hyundai out because they’re offering to take back new Hyundais if you lose your job in the first year of ownership.
Then before we wrapped up the show, we jumped into a couple of voice mails from Matt from the Pizza Go Here podcast.
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