The Bear Necessities – This is Money show

This is Money Podcast

This is Money

Business, Investing, Business News, News

4.4 • 735 Ratings

🗓️ 22 January 2016

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Banks, the City, Wall Street, call them what you will – they use jargon to steal your money.

It’s what caused the walloping financial crash in 2008.

And it’s possibly what’s going to cause another one eight years later – that’s right, in 2016; this year!

We’re in a bear market.

What even is a bear market? The opposite of bull, of course. See how easy it is?

This week, This is Money editor Simon Lambert and personal finance editor Rachel Rickard Straus join Share Radio’s Georgie Frost to help listeners understand some of this nonsense.

There’s even a Hollywood movie just out about financial jargon, The Big Short, the story of how collateralized debt obligations brought down the world economy because no one knew what they were. It’s nominated for five Oscars, including best picture.

A bear market is a bad one. Bear = bad. It’s when share prices fall. Bull = good. That’s it really. Listen to Rachel and Simon for more detail.

Also in the podcast:

Davos – why the hell do our financial leaders go to Davos to discuss the global economy? It’s a ski resort in Switzerland - the most expensive place they could choose. What do they do when they get there? Do they even go skiing?

Why does a low oil price affect everything else so much? It’s not what you think. It’s what oil producers do with all that income and what they can’t do with it now that’s the problem.

Why are broadband companies allowed to mislead customers with their advertising? Surely it’s not because of a supine advertising regulator?

In ‘good on the face of it’ news of the week E.on customers are going to have their energy bills CUT by 5%. But the wholesale price of oil and gas has fallen 20% since its peak. E.on gets points for being first but that’s not enough E.on! Will the others follow suit?

If you’re worried about the markets this year - keep worrying.

If you’re thinking of ever retiring or voting Tory – you probably ought to understand what Chancellor George Osborne is planning to do with your pension.

If you’ve ever had a job or fancy a change you must listen to the bit at the end about CVs.

If you thought you knew what to put in your CV, such as volunteering experience and keeping it to two pages. You’ve been doing it it all wrong.

Listen and learn.

And then you might get a new job.

Email us hello@dmgmedia.co.uk

Text us 020 7938 6000.

Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane

Producer: Georgie Frost

Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0	A very warm welcome to This Is Money and Share Radio podcast. I'm Georgie Frost here with you on DAB, online and through the Share Radio mobile app every weekday, from 9 until midday sharing ideas about money.
0:16.8	I'm joined today by editor Simon Lambert and personal finance editor Rachel Rickard Strauss in the studio from the award-winning This Is Money to talk through some of the top stories on their website that they've been investigating over the last seven days. And what are seven days it has been the rich, the powerful, the downright famous, descended on the Swiss mountain village of Davos for the World Economic Forum to discuss the big issues of the day, attempt to put the world to rights.
0:43.3	The global economy, meanwhile, was doing its best to spoil the party.
0:47.3	Turmoil on the market's worries over growth continue to take centre stage.
0:51.3	Things look a little bit brighter, but at one stage this week,
0:54.9	over 146 billion had been wiped off the value of British shares since the start of the year.
1:00.9	Time to run to the Swiss hills and panic? There will be rallies, but my view is that we're likely
1:05.4	to see markets trend lower for the next six months or so. Your shares in the longer term,
1:09.4	despite going up and down like you, will benefit from the
1:11.7	compounding of dividends that they'll get.
1:13.8	All this comes as that most unreliable of boyfriends.
1:16.6	Mark Carney confirms, well, what we knew anyway, that interest rates aren't going to go
1:21.0	anywhere anytime soon.
1:22.3	The renewed collapse in oil prices, the volatility in China, the moderation and growth
1:27.2	and wages, not enough
1:28.5	cumulative progress had been made to warrant tightening monetary policy.
1:32.3	Also today the knives are out for broadband and energy companies,
1:36.3	eon cut gas prices by 5.1% a year. Does it go far enough given wholesale gas and electricity
1:42.8	costs have fallen 23% and will others follow suit?
1:47.1	Consumers aren't silly. They're kind of going, well, this is short truth, really. This is only very minor.
1:52.8	And if you thought pension freedoms were a big deal, being worn to hold onto our hats come March's budget.
1:58.4	Also today...
	...

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