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The Clark Howard Podcast

3.9.20 Coronavirus market impact; Coronvirus scams proliferate; Avoid AT&T TV

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.65.2K Ratings

🗓️ 9 March 2020

⏱️ 37 minutes

🧾️ Download transcript

Summary

The market is now past a 52 week low and global markets are in panic mode. Global markets are related to an undeclared war between Putin and the U.S. The U.S. has become the world’s most important energy market - natural gas and oil combined. Putin is exploiting the outbreak to undermine the U.S. economy in an attempt to destroy the U.S. hydraulic fracking industry by flooding the world market with oil Russian can produce at a cheaper price per barrel. Putin has engineered a collapse in the price of oil by making it clear he’ll flood the market beyond demand to starve the U.S. oil industry for revenue. This has led markets to expect recession. Oil prices collapsed by unprecedented amounts today. Unless this corrects in the next several days, we’ll see a 30 to 50 cent per gallon drop in gas prices over the next few weeks. But Putin’s long game is to destabilize the U.S. using the backdrop of depressed demand for fuel due to the outbreak, as a way to drive a dagger through the U.S. economy. The SEC has released several warnings about phony emails circulating claiming treatments and cures for coronavirus. These ‘pumps and dumps’ are occurring heavily in social media and elsewhere, claiming biomedical breakthroughs. In reality, crooks buy stock in a failed enterprise and try to bid up the price by lying to people. As soon as they run the price up, they sell their shares and investors are left with nothing. Be wary of ‘incredible opportunities’ to score money. State and federal authorities are also warning against fake charities soliciting to provide relief to coronavirus victims. Only give to organizations you know are real to avoid the scams. AT&T TV is being heavily marketed at $49.99 – but after clicking to sign up, the junk fees kick in. There are massive penalties to cancel a 2 year contract. No other streaming service asks that. Sleazy, underhanded, deceptive and wrong. Driven by fear and desperation, they impose a 2 year contract and only tell you the price for the first year, but you can’t get out of the second year at double price + junk fees – without paying a massive termination fee. Ridiculous. DirecTV and AT&T internet customers will get the pitch. Know it’s garbage and there are much better alternatives. Hopefully AT&T will come to its senses and compete with integrity. Rebuttal welcome. This is a lousy way to treat brand loyal customers and others. Their other streaming service, AT&T TV NOW gives you the ability to cancel with no penalty. Confusing much? See our streaming guide   Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

This football season get a hand from Betfair's popular BetBuilder and easily add our fan favourite football selections to your bet slip in just one tap.

0:09.0

And you can get a completely free £2 betBuilder on any Premier League game this weekend.

0:14.0

Now that's handy.

0:18.0

Betfair.

0:21.0

Max1 per customer minimum combined odds of 1.5 opt in required teases and sees apply 18 plus Be gamble aware.org

0:30.0

Great to have you here on the Clark Howard Show where it's all about you and that quality yours.

0:41.0

I want you to learn ideas me so you can save more and spend less and don't let anyone ever rip you off.

0:50.0

Clark.com and Clarkdeals.com are our websites and coming up in a few minutes swinging the web.

0:55.0

I want to talk to you about all the scams going on in some way related to the coronavirus where people are trying to get in your wallet.

1:05.0

I'm going to tell you what you need to know in the carcragious moment and coming up later.

1:11.0

AT&T is putting a big push behind their new television product.

1:17.0

Oh man, I got to tell you why it's garbage and stay away from the offer from AT&T.

1:25.0

It is the wrong choice.

1:29.0

So since early this morning, I've been getting a lot of requests from media about what's going on with the oil market and what's going on with the investment market.

1:46.0

And I want you to know that as necessary day by day, I'll deal with aspects of what's going on with the economy related at least indirectly to coronavirus because it is so top of mind with people.

2:05.0

Tomorrow, I'm going to deal with the travel side of it.

2:08.0

We're getting a lot of questions posted every possible way on social media directly on carc.com, carc.com slash ask from people with various travel related questions.

2:20.0

I'm going to deal with those tomorrow.

2:23.0

I actually just got off a cruise Saturday and I did television multiple pieces of TV from the ship.

2:35.0

And so I walked into a TV newsroom today and people were looking at me like like I had the plague or something that had been on a cruise and wanted to know what was it like being on a cruise right now.

2:52.0

And so I'm going to talk about the travel stuff in depth tomorrow.

2:57.0

But right now, I want to talk about the two dominant stories of today.

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