Today on the Ilyce Glink Show, we’re going to go over all of the big economic events of the week:
- President-Elect Obama named his economic team
- The stock market rose nearly 10 percent
- The government bailed out Citibank
- Treasury and the Fed announced an $800 billion bailout to boost consumer credit/mortgage markets
- Obama announced a massive plan to create 2.5 million jobs in infrastructure rebuilding and green technology, that will probably cost somewhere around $1 billion over 2 years
- The economy officially contracted by .5 percent, a worse-than-expected showing and the worst number in 7 years.
- Consumer spending plunged 1 percent in October (one of only 7 times that has happened since the 1950s) and new home sales fell 5.3 percent.
- Auto sales are down 45 percent for 2008; October was the worst month in 25 years for sales; Auto companies are due back in Washington, D.C. this week. How will they get there?
In addition to covering all of the financial news, we’ll answer your financial questions and cover what happened on Black (bleak? grey? blue?) Friday and get you ready for Cyber Monday tomorrow.
Listen live 12 noon to 2pm on www.wsbradio.com. We podcast all of our shows at www.thinkglink.com/radio, so you can always catch up with the Ilyce Glink show there or at iTunes.com. I hope you can join us.