When the state government overspends like there's no tomorrow, the Federal Reserve starts begging banks to be nice to people with mortgage foreclosures, and the government admits the long-term fiscal outlook is "bleak," that's enough to give a reasonable person some serious concern...especially when we realize that average household credit-card debt is around $10,000. Tom Coates from Consumer Credit of Des Moines had some comments on the big picture -- and what individuals can do.
Mike Woody tells us that Carly Schroeder really carries the movie "Gracie". And that we should go rent "Breach".
Also today: A talk with John Lott, author of "Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't". John and I share some common views on why government shouldn't always step in to "fix" the free market.
Online bonus: We didn't have enough time to discuss Operation Bot Roast on the show today, but the FBI claims it's cracking down on a huge number of networks of computers that have been hijacked by crooks. What should you do about it? Protect your own computer by running it on a limited-access account, and if you do fall victim to identity theft, act quickly according to some of the FTC's recommendations.
Keywords in this show: banks • credit-card debt • crime • debt • economics • FBI • Federal Reserve • Federal spending • foreclosures • government • government overreach • identity theft • limited-access accounts • mortgages • movie reviews