We’ve all heard the story of the boy who cried wolf. After the second or third time with no wolf to be seen, people stopped believing him. That boy has nothing on some of the financial alarmists crying wolf today about the economy. Is our banking system on the brink of collapse? Are we headed for hyper-inflation? Rob talks about all that with economist Jerry Bowyer. 
<ul><li>We’re taking a look at the state of the U.S. banking system, among other things. There’s some fear mongering going on out there if you watch the financial shows - which we don’t recommend. Is the “boy who cried wolf” a good analogy for some of the economic forecasts we’re seeing today?</li><li>There are folks who ignore real warning signs. Is taking the middle ground the best approach?</li><li>How would you describe the U.S. banking system's health and what's your prognosis?</li><li>Has the Federal Reserve run out of tools to keep the economy moving forward?</li><li>Interest rates and inflation usually go hand-in-hand. What do you see happening with them?</li><li>One of the things causing people to be concerned about the economy is supply chain disruption. Older folks remember seeing pictures of empty store shelves in Soviet Russia. Is this temporary or the new normal?</li><li>Will Washington confiscate our retirement accounts? </li></ul>Next, Rob answers these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org: <ul><li>Is it a good idea to invest in gold since the dollar seems to be losing value day by day?</li><li>If the premium on your Long Term Care insurance has increased substantially and is becoming unaffordable, should you keep it?</li><li>If you received a call from someone who claimed they were from Social Security and asked for your number for verification, was that a scam?</li><li>Should you refinance your 6.25% FHA mortgage with $65,000 remaining over 15 years if you could qualify for a substantially lower interest rate with $6000 in closing costs?</li><li>Is there a rule of thumb as to how much cash you should have on hand, and should that be in $20s, $50s or $100 notes?</li><li>What's the best way to put money aside for your two nephews' college savings if they are in Florida? (Rob referred the caller to <a href="https://www.savingforcollege.com/">Savingforcollege.com</a> to research 529 plans).</li><li>What is the most economical way to open a solo 401k?</li><li>Are there any mortgage lenders who will work with people with low or poor credit if you and your husband have credit scores above 600?</li><li>Is selling covered calls a good strategy for investing for retirement?</li><li>Where do you start with a budget if you have a smart phone but need a nudge to plan? </li></ul>Be sure to check out the rest of MoneyWise.org to connect with a MoneyWise Coach or access our books and our many free helpful resources. You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.

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Is our banking system on the brink of collapse? Are we headed for hyper-inflation? Rob talks about all that with economist Jerry Bowyer.

The Boy Who Cried Wolf With Jerry Bowyer

FaithFi | Jan 12, 2022

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