We’re still in a bear market, folks
Make Me Smart
Marketplace
4.6 • 5.4K Ratings
🗓️ 14 October 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
Despite the latest inflation numbers, the stock market had a great day today. We even got to play the happy, jazzy music on “Marketplace.” But that doesn’t mean we’re out of bear market territory. We’ll explain. Plus, guest host Samantha Fields talks about the big changes to a popular student loan program. (No, not President Biden’s student debt relief.) And, tastier beer?
Here’s everything we talked about today:
- “Dow closes 800 points higher after a historic one-day turnaround” from CNBC
- “Bank of England Insists Bond Buying Will End Friday” from The Wall Street Journal
- “Social Security recipients to get their biggest cost-of-living raise in over 40 years” from Marketplace
- “Eligibility for Public Service Loan Forgiveness Has Changed Temporarily. Here’s What It Means For Borrowers” from the U.S. Government Accountability Office
- Public Service Loan Forgiveness from the Institute of Student Loan Advisors
- “Scientists Just Figured Out a Way to Make Beer Taste Even Better” from Science Alert
- “I tried Be My Eyes, the popular app that pairs blind people with helpers” from The Guardian
If you’ve got a question for the hosts, call us and leave us a voicemail. Our number is 508-U-B-SMART. You can also send an email to [email protected]
Transcript
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| 0:00.0 | Everybody I'm Kyle Rizdow welcome back to Make Me Smart where we make today make sense. |
| 0:12.7 | And I'm Samantha Fields in for Kimberly Adams. |
| 0:15.5 | Thanks so much for joining us on this Thursday. |
| 0:19.4 | Today is a sunset of Thursday so it's a standard deal, a little bit of news, a little bit |
| 0:24.5 | of me smile and then we're out of here. |
| 0:27.5 | Sam you go first. |
| 0:30.5 | Alright cool now somebody's buzzing my door I ordered nothing so I don't know why. |
| 0:34.5 | Anyway sorry about that. |
| 0:37.8 | So my big news the one I'm going to start with is the Social Security Cost of Living |
| 0:41.9 | Adjustment. |
| 0:42.9 | We got that number today it's going to be 8.7% increase for anyone on Social Security |
| 0:48.7 | that's going to start next year. |
| 0:50.6 | And that's the biggest increase in 40 years. |
| 0:53.7 | It is of course because inflation is so high. |
| 0:56.1 | We got that number today too and prices my god I'm so sorry someone is buzzing. |
| 1:03.4 | So yeah so obviously as we know inflation has been high it is still high and Social Security |
| 1:11.0 | is you know designed to keep up with inflation obviously with a bit of a lag but you know |
| 1:15.4 | how much it goes up each year if it goes up at all is determined based on how much prices |
| 1:19.6 | went up from the third quarter of last year to the third quarter of this year so that's |
| 1:23.7 | why we found out today. |
| 1:25.4 | You know this is a big deal it makes a real difference for people something like 40% of |
| 1:29.6 | retirees rely on Social Security for half or more of their income so this is a big chunk |
... |
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