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Regaining your Economic and Financial Independence w/Kung Fu Finance Girl!

from Capital Account:

Welcome to Capital Account. Today, European Central Bank President Mario Draghi announced a bond-purchase program in the euro zone with no set limit. But why should you, who may be thinking about your future and your retirement, care about Super Mario’s latest policy response? Our guest Susan Fujii editor-in-chief of Kung Fu Finance and an SEC accredited investor says you can’t afford to ignore the macroeconomic landscape if you are trying to protect yourself in this new economic environment. She joins us to explain why.

Plus, Senate Candidate Elizabeth Warren had some tough words for Wall Street CEOs in her DNC speech last night, saying that despite wrecking the economy Wall Street Bankers “still strut around Congress,” demanding favors from lawmakers. But is it a little naive to think that the candidate you elect president or into any office for that matter will really change this situation? We think this is a bit na├»ve to say the least., and this is one example of the problem with political rhetoric when it comes to finance and the economy. If you believe the rhetoric and think everything will be fine, or believe that you can trust political institutions to take care of you, you may not do so well. Susan Fujii, investor and editor-in-chief of Kung Fu Finance makes the case for financial independence versus financial dependence to the government or your employer.

To give you just one example of why this should be on your mind…the United States Treasury Department this week announced the US national debt has surpassed $16 trillion. But how exactly are we supposed to wrap our heads around this? Millions, billions, and even trillions are bandied about as though they were pocket change, but can we really conceptualize what those numbers amount to? And the questions are unanswered as to what happens when interest rates rise and the government has to pay more toward interest and less towards other things? What happens if the globe loses faith in the currency? It’s these kinds of questions many of our viewers ponder quite regularly, especially when it comes to figuring out what kind of safety net exists for them during these very unstable economic times.

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