05/31/09: Financial News of the Week

" And -- show is online. Turned to Rick -- yeah Saturday is one before Sunday's nine the moon. 96 look."

" Susan I. We leave. We agree on 99 point 999999999%. Of thinks about money we agree about Sony 5% think about policy spoke before the show we're talking about the Republicans are becoming a bunch of babies."

" The stuff with the president headline about the president's spending too much money the president of the United States bugs. Glad either Alex if -- takes slaves -- caring person Dan I. I don't I don't think that Calvin I don't think you're ruining my credit and but the point is. He can take any transportation right ones -- this reminds me of when Nancy Reagan. Blood new China for the White House run everywhere and flipped out it's the -- it's the most power and country in the world does it have good China and it."

" This debt at you know I don't want to get too much interest but the press tends to admit I don't understand why the -- is doing this because there's so Jessica's there's so liberal because went. People forget when the Kennedys were in the White House it's yet Jackie can you I have great respect for you suspect. Some money tons of money on on the White House when Truman was there. -- the White House including you mark what's the big you know it's like. I've got a I've got a lot of disagreements -- President Obama but. If you want to fly to New York to go to go it'll play and have fun good looking at a -- that's that's type of inconsequential. Tax money I can deal with. Absolutely and it doesn't make any sense that he has in what is what's in the financial news of the week."

" Well we finished that a month and for her mom. Of the month opening. The Dow gained 4%. Basically. The Dow gained 4%. Oil went up. Almost 30%. The ten year treasuries started moving and emerging markets are up 20%. And so it's things have been rolling right along. Right now a year to date the Dow is still down 3%. The S&P is up one something and the NASDAQ is up twelve. But put it perspective the Dow is down 25% one point this year that or February and so. The question is. Can anyone predict the future absolutely -- and so consumer sentiment is up that's been delightful it's the highest in eight months. And all of the economist got together. And predicted. That the recession is ending right now. Then you can go to the flip side then they'll say we're going to retest those lows and frankly got a peak and that means we're going to have -- valley. No one can predict the future. Most of all economists and sell it."

" Ironic that -- when your -- they meant to ask you this and I didn't so -- out throw and again this is a guesstimate. But Ben Bernanke who I think is one of the economist few economists -- I think has a good perspective historical groups fly low in historical but. He know yes he knows more are."

" About the intimate economic details of this country than in England then didn't he he."

" Predicted that the recovery. Will begin. At the end of this year which I think it's a fairly good guess what -- which are taken. All yeah and I agree yes. And basically."

" And the so. First of all when you look at your computer after you've had a big update or a down day. That swollen these people are writing their explanation for why it happened because if you notice -- in the beginning of the day in the news of the horrible. The Dell's global 150 points and so -- have to scramble to say something else. On a big change that happened in the week is that the it interest rates start to cool. -- gap between the fields and a two year treasury and ten year note. Bomb in that part of the yield curve widened to two point 75 percentage points now Palo -- talking then interest rates coming. Months years so let's try talking about surprise surprise surprise interest rates went up. One of the things that. I'm very concerned about it is that Morningstar. Because my feeling is anyone can be bought the new morning -- pages and each of the mutual funds on the top of the page to it used to say. Load if you're paying alone now. What does that say. But can't read -- open just that it's open to art and ends and so. You should know that now the only reference to load is in EC we -- print and the very bottom of the page. Where used to be and the tops and now. Looking across. On the morning start page for mutual fund. It's much more difficult to say to see whether it's a load -- and no load fund and I don't think this is just because they didn't have enough ink to put that -- I think they're doubt that on off. As you know. There are many load funds that are really great that we tell you divide evenly pay the -- in the twelve B one -- So it's not that the -- bed or anything like that but that Morningstar is no longer helping you to know I find. As we say what you want to have -- fall as much information as possible. And that's what want to start claims to do his duties much information as possible whether they're starting to waver on that for price that's not good. Cardholders anxious about the economy and their own financial security may be tempted to sign up for so called credit protection plan. Offered by credit card issuers from monthly fees these plans promised to cover your payment should you lose your job become disabled -- die. Well would you guess. Counselor -- to say it works or doesn't work I'd say a stay away from exactly correct because. Mom didn't basically when you look into this in more detail. The fine print has. Myriad. Exclusions. Number one. Number two the costs are high high eighteen you. And in the event of unemployment or disability the credit protection plan plans. On typically make only the minimum monthly payment on your behalf therefore things just keep escalating as you're disabled."

" And ever and -- had these in different forms for years and I you better off taking the money that you do it first off most of Palin got more credit card what you are -- at the credit card today and that's one of the reasons. Yeah and you think I'm being cynical I'm not being cynical I'm just being realistic that's -- there they -- you think that they don't they pay lawyers the credit card companies -- hundreds and thousands and millions dollars a year to sit around to -- Bob's public and to defend them and and ways to make."

" Wal-Mart that's. Hard to ensure people we've we've talked about this before but I'm of guns to calls that the officer wanted to really reiterated. If if you have a bad physical disease and you weren't life insurance coverage health care coverage things like that. Om group plans are really the way to go. On and you say well I'm no longer working for my company how can -- be part of that group Lee -- part of that group. But one of the most common that you conjoined is the chamber of commerce. And they don't care you know you can say in making pot holders in your spare time. They don't care what to do they just want your hundred dollar a year membership and then you sign up for their health care coverage. Plan to give you don't -- Klesko small business."

" Something bureau SB and B it's in Worcester and basically if you claim you you just say I'm a consultant. And you paying the 85 -- I think is 85 bucks a year then you qualified -- to reply if they plan."

" In interestingly enough I have found on that clients have told me. That lets say you you want blue cross blue shield if you call them. And say -- left to the -- cobras up I have to get insurance on my own in -- on health care coverage. On they will help you and tell you the cheapest group to join so they'll even say if it's the chamber of comers. The chamber of commerce in Worcester has better rates and chamber of commerce in Boston and it makes no difference they you don't have to live there you know and of -- a business there are nothing. So it's really really important. On on the student loan horizon there's a lot of fear. About forgiveness loans. It's very common than a -- going into a field that would help the general public. Like. Licensed social worker nursing teachers district attorney's primary care physicians dances. World health care of their many states that forgive some of your student loans if you're going into a profession. That will help. On. A lot of them are stepping back as the states are now in trouble so if you're relying on is. In choosing a private university. As opposed to a public university. You should really to revisit that in because there's a danger that you could lose it."

" Thanks for downloading and listening to the money show with the -- Come back -- Boston's talk evolution -- these 69 WTKK. It is fun line and on them."