Jill Schlesinger of CBS' MoneyWatch joins the show to talk about the economy. So it turns out that things aren't going to collapse, and we're not going to have to sell our bodies in a barter system. That doesn't mean, however, that we're out of the woods, and Jill is here to show us the way out. Throw in a little bit of health care, a little bit of Social Security, and a garlic smell? Only on The 404!
For the last couple of months, stocks have been soaring more than 50 percent since their March low. Jill says all that means is that the market doesn't think we're headed for Great Depression 2.0, but that doesn't mean we're out of trouble. In the dark, we imagine what V-, U-, and W- recoveries would look like. Strange... Justin, is that your hand on my leg?
Further down the line, we jump into the health care debate. Jill tells us her generation is screwing our generation and not in a good way. Essentially, they took all the good health care, and we (the 20-somethings) will just not be able to afford the premium "best health care" in the world, when we really need it. And somehow, Wilson reveals some of his Republican leanings? Say what?
Finally, we get into personal savings for the future, and we pick up the ashes of our 401(k)s. So while your parents may have lost a bundle on their retirement funds, we 20-somethings still have another 40 years before we really have to worry about our returns. Meanwhile, Social Security is a toss-up. Jill wants to advise President "Barry" Obama that the easy solution to fixing the "Third Rail" of American politics is just tying benefits to an age index. People are just living too long...death panels, any one?
Wow! So we hope you finally learned something on The 404. We sure did! Send in your feedback to the usual at the404 [at] cnet [dot] com. Follow Jill on Twitter. Or leave us a voice mail at 1-866-404-CNET, and you can debate us on the finer points of the liquidity of the money supply and U6 unemployment figures.
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