give me. one on one with personal finance expert suzy orman her advice for surviving the current economic turmoil on this edition politic. for the politicking on larry king they call the 1000 pandemic has rewritten the rules on the economics in the united states and around the globe it's a pleasure to welcome suzy orman personal finance expert number one new york times best selling author with her device was surviving the economic turmoil of the day she is also the host of the women and money podcast and her latest book is the all of it were time our guide for 15 plus winning strategies to make your money last

a lifetime but we start with the basics suzy has the pandemic changed the way we should look at our finances. i hope it does larry i'm sorry that obviously that the pandemic happened but we need to look at our finances in a very in a very more realistic way you know forever i've always said to you when everybody you need at least an 8 month emergency fund you need that and this was a perfect example of those people who didn't have an emergency fund all the sounds comments outstanding food lines waiting to try to get unemployment if they were able to have waiting for that stimulus check that is not how you want to live your . hopefully what's happened with this pandemic is it has become a 7 reality to people that you really need in a merchant's a font in case you lose your job the economy. shuts down and things like that so

does that mean don't pay off their credit cards i have to tell you at this time you know i have all the advice that i've given over all these years which is don't have credit card debt always pay more than the minimum payment due during this time when you had lost your job you didn't have any money in savings all you had were credit card bills and you had available credit limits when money came in my advice was do not pay off those credit cards you should instead pick up the phone call your creditors and ask for a deferment and save year passed because you never know when credit card companies can close down your credit card so you need cash so yeah my advice to change for this particular point in time the new york times recently wrote about you quote when the economy is good miss or means business does fine but your bush does her boom now you doing better now it was your reaction to this i have to tell you i am

. and it's not just you know more you know the my book came out right when this happened the ultimate retirement guy and marry without any publicized behind it whatsoever it went to number one on amazon for an entire week almost all books that never happens my pad cast the number of downloads have almost doubled almost tripled at times because people really wanted to know what should they do should they sell or should they buy and the podcast was there twice a week to absolutely tell them what they should have done and should still be doing it to the extent you haven't paid your mortgage us an extension yes for an extension on the credit cards what do you do with the cash. what you do with the cash right now is obviously you keep it as safe as possible and things that you need to pay that don't except at

a card for instance that you have to pay in cash maybe your landlord doesn't take a credit card so you have to pay that in cash or what ever it may be but just keep your cash in the highest yielding savings account typically a credit union is far better than a savings account because they'll give you a higher interest rate so keep it someplace that safe and sound and gives you a good interest rate we're joined by still a graduating college student. is already build up a debt to pay for schooling was your advice yeah listen you've got you got into debt with student loans so that you can fully get a job and maybe there's not a job there for you and you're going to be tempted to not do we not pay that student loan you're going to want to go into deferment or forbearance do not do that student loans in most cases can't be just charged in bankruptcy so your number one goal is to pay your student loan at least on time whether it's the standard

repayment method hopefully over 10 years or income based repayment method whatever it is do not let your student loan go into default it should be the 1st loan you pay are non. or about people approaching retirement. people approaching retirement and and i'm not just saying this because it's my book but it's they really need to read this book because the advice in this book is very different than any advice that i've given in any other book that i've written because now larry you know i'm 69 and now i'm writing about retirement from a whole different perspective it's different when you're 45 writing about it when you're 69 and essentially in those years so what you need to do is make sure that you have at least 3 years of a cash reserve because you never want to touch money that's in the stock market if the stock market's going down so there is different in vice in this book than i've

ever given before one is look into a lifetime annuity to make sure you have at least 3 years of a cash reserve and all other kinds of things like that now why in spite of all these economic problems is the stock market doing well because the stock market is not the economy and if you look at all the money that the government has infused into the system you know there are people now making more money later and unemployment than they were when they were working and at the same time they were able to defer their credit card payments their car payments their insurance payments their mortgage payments their rent payments so a lot of people now there's money out there believe it or not what are they going to do with their money they're going to put it in a savings account and have a percent interest now they're going to take it and put it back in the stock where

you can get a 5 or 6 percent yield the dividend paying stocks and they see the market go up they go up and we see now some more people come in and more people come in and more people come in and the truth is they never should have gotten out of the stock market to be again with right but the market right now is where people want their money because there's no other place to put it for millennia of homage reliance and they put in their social security when planning their retirement. well they have to put some reliance in and i think it should still be there for them no guarantees but whether it's there for them or not that check isn't big enough to get you by to pay for your needs as well as your wants so when you're younger your number one goal is to put money away to day for your tomorrows fully fund your roth iras fully fund money that's a roth for a one k. or wot for all 3 b.

don't do traditional accounts anymore where you go for the tax write off make it so that you do after tax money pay the taxes today so years from now what you see is what you get is if you think tax brackets are going to go up to pay for the deficit that we have created 10 years from now 20 years from now i have a bridge to sell you so invest in raf retirement accounts across the board stay out of debt live below your means but within your needs and you save as much money as you possibly can did we learn anything from the 2008 financial crisis then crashes help us in dealing with the financial impact of the convent demagogue i don't think it did you know i always have the say in that the easiest thing to do in life is to forget the hardest thing is to do is to remember if people had looked at when the market crashed and then the market came back and then it went on to be

the most of ride bull market at least that i can remember at one time were you ever just about 14.3 percent a year on your money over 10 years when this had happened back in february early march you wouldn't have sold you want to have panicked you would have continued to invest in your $401.00 k. plan if you still had a job you would not have come out of the stock market going i have to get out i have to get out you would have just stayed the course. and i kept telling everybody that i'm i pod cast at a dead them please don't sell don't do this when oil had gone down it was like let's buy oil let's buy x.l.e. and i'm so glad i told everybody to do that which is that e.t.f. or oils were up almost 30 percent now so i don't think we learned i don't i still think people panicked and i don't think they learned then that they need 8 month emergency fund they forgot that so so many people were in trouble because of that

now we go from a pandemic while it's still continues to last into a crisis of on the streets and no faith in america unemployment i'm all time high where you say now i stay that unemployment is probably higher than those numbers are showing and you know if you look at how they figure the unemployment rate it takes into consideration everybody who is not looking for a job other people so we're probably at. least in $1000.00 or 20 percent unemployment rate 40 percent of the jobs that got lost are not going to come back in my opinion so it's not going to be good out there the economy is going to suffer and rightfully so larry people should be protesting and they should be a degree because the system has never been fair you know to minorities and especially blacks never holler so this is the time that it's not just in my opinion

about the economy and your financial rights this is about human rights and human dignity so you know i hope they keep protesting intil change really comes about. big turnout in the election do you think i think we're going to see it then turn out in the election i think what's just happened now with our all you know everything coming out it's no longer just the blacks protesting it's white latino it's everybody men women young and old they've had enough and in my opinion they should have had enough this is enough this is crazy what's going on here and i don't think people still want to see the government that we have that is in my opinion corrupt full of life ears nobody having any compassion for what's really happening in our world today as far as who's in office i think people want to

change i hope they turn out because if they don't turn out we're not going to have a change so you think we're going to have a change in the office and pray that we do but i can tell you this even if biden wins no way is trump going to give up that seat he is not going to concede he's going to tell everybody the election was fixed i want to do the results again we probably won't know who's president or probably january no way is he just going to go out quietly like a little lamb are you kidding me wish you nothing but the best thanks so much susie always great seeing you. same to you larry much love much love same here more politicking more of after this.

you can be both with the yeah you want. to point is now made it to big gates of the central bank in the chaos just like of course apocalypse now was a remake of part of dark best then it really reflects the chaos and insanity of the vietnam war america's heart of darkness america's plunge into imperialistic insanity by spending billions on to conquer a really nothing vital interest but spending billions and trillions to get there were surveillance a repeat of the insanity but on

a much more epic scale. model no 2 no crowd. no shots no. actual news felt. going to let me stress no strong. points your thirst for action. well the to politicking i'm now joined by jerry springer television host lawyer and producer former mayor of cincinnati he hosts is jerry springer show over 27 seasons

from 1991 to 2018 and he now hosts the jerry springer podcast and judge jerry in syndication jerry springer blight lives matter seems to have changed the tone of everything this is different than again you might have experienced in the past right a cultural change in america absolutely and when you think about it where whenever a protest movement starts out the initial reaction from most people that aren't part of a particular group will say boy these are crazies these are protesters they're just disrupting things. and every one of the protest movements in our country it always starts out like the protesters in the beginning of crazy but then over time it starts to gain support because what they're andrea about you know no one pretends

to be upset no one pretends to be hurt when these people protest they're really hurting and after a while we see the substance of their argument and it becomes pretty hard to deny their point of view so all of a sudden it starts to move mainstream that was true of the civil rights movement the labor movement the women's rights movement the gay rights movement it's always there are bunch of crazies in the beginning and then oh my gosh they kind of point . one of those how do they defend the diff defun the police or do they mean by well i would say even though i'm on their side on a lot of issues i know a lot of their point that is crazy 1st of all. it it goes against what they really want what we have to do is improve policing to have more sensitivity you don't start out by saying this is what we always complain about conservatives whatever the issue is conservatives so often say well we can

afford it in other words they think money before they say thank issue well this is the same thing we're saying we're going to defund abuse you isn't how much is being paid for police work this is the issue is what the money is being used for is it used for sensitivity training is it use for more community policing is it used to hire police officers to work in the community said they actually live in i mean those kind of things so you don't start out if we did away with police officers you know what would happen if everyone who owns a gun in america would suddenly be out in front of their own store in front of their own business intranet their own home you know making sure nobody walks by you're going to have people start shooting each other massively it's going you know . you talk about would not have a police department that's not things a little you think the liberal of total stop saying defund well the.

the exterior view is saying that but the for example the democratic party whether you're talking about nancy some palosi when you're talking about joe biden you know it but the democrats aren't saying you know the regular democrats aren't saying that you know when you have a protest movement you're going to have people coming in with all kinds of you so there are a few that are saying that and it's catchy and the media jumps on it as any reporter would but that's not what most people are and that's a distraction that's a distraction we want to improve the quality of safety and security in america we don't want to do away with any security is lauren or a shield for racists do you think the term war on a war. in the past it has been used to such nixon used it spiro agnew

used it and law and order was code language that you know we're going to bring order and secondary was the rule of law people that are screaming the law and order are so often just screaming for order you know a bang rule of law is not what they're particularly interested in joe biden apparently by sitting around going to funerals his way i have in the polls explained well traditionally every presidential election if an incumbent is running well even when it's not is a referendum on the current administration so people are voting on donald trump. there are some that love him they will vote for trump no matter what happens and there are people who obviously the majority of americans don't want trump and that's why biden is ahead in the polls so the job of the democratic nominee in this

case joe biden is not to take the ball or the focus off of trump as long as the issue is trump the democrats can win if some other side issue comes up where people aren't talking with thinking about trump then he could sneak in again so i think that vitally important i think his strategy makes sense and just to keep showing his decency no one doubts that he has the experience he's been there forever it's not a it's a it's just when you measure his decency and his understanding of what america is a multicultural society you compare that with what's coming out of this it ministration that is enough to win the election and we should keep the focus on that do you have a favor to me is what i mean may. well i i like comma harris from the very beginning but. you know i'm i'm assuming and i think for good reason his running

mate will be an african-american woman and so connell is obviously in in the hunt. and. you know deming's from florida is also the mayor of atlanta the reason i think and this has nothing to do with the competency of any of the any of the 3 i think all 3 are highly qualified but i think politically picking a mayor as your running mate right now with what's going on is not a smart thing because if any thing blows up in her city during the course of the campaign. you know she'll be damaged goods you know they'll be people that won't be happy with how they did so it's too risky you know you have a congressman or senator. they're not in charge of any hero i mean it's a very cynical reason but if i were just a political strategist i would say this is not the year to pick a mayor because

a mayor having nothing to do with the qualifications of the mayor mayor all of a sudden have to deal with issues that can hurt a campaign usually though if you pick a senators from a state where you're in trouble you want that senators kennedy did were johnson to be. biden doesn't mean they're. right and that issue but i think politics has become national it's not 1960 s. anymore so i think today all news is national news something happens on a street corner in minneapolis and all of a sudden the whole world is responding so it's i don't think the senator has that kind of clout anymore any senator to particularly carry a state because senate is a very rarely the head of the political organization in that state you could say so possibly with governors but not with senators who spend most of their to washington

so i don't think that's the consideration i think. go ahead are you concerned about the election as self. the poll in georgia trump probably you insisting it's rigged are refusing to leave office that all these kind of things are being form around do you expect a crazy 5 months. i think it will be crazy and. if trump loses or a bit of it there's some things going on that bring up legitimate questions about the fairness of the election or whatever i think it could really be trouble i don't believe the one scenario i don't see happening is if trump loses the election that he refuses to accept the result and tries to stay in office that won't happen can't cat can't happen. congress wouldn't commit it courts wouldn't

commit it the military wouldn't permit it i mean that that is a scenario too far for me to happen so that won't happen but could it be messing around with the election itself sure that's a possibility and but i think there's so many people watching now there's so much attention it's really going to be hard. unless it's ridiculously close election and a few votes one way or the other could swing it but i think right now there's such a feeling that we can't have 4 more years of trauma that i don't think it's going to really be that close certainly not in the popular vote are you pessimistic about your country. no because. one there's no choice. you know america is built on the whole concept of hope that you know if you let us be free we'll figure it out and you know churchill said i'm.

the worst form of government except for every other. so i think in the end we will make decisions we we make a lot of mistakes but somehow in the end we finally get it together you know even if you look at out world wars we were always late to the party. and but in the end we wound up doing the right thing in the quote the good guys won. so i think we're going through a difficult time now but i really have faith in the younger generation when i have faith in these demonstrations now you realize that most of the people demonstrating a white this you know during the vietnam era you saw whites in the protests but the whites where in the protest because all the white kids were being drafted as much as the black kids where everyone was going to vietnam so everyone got involved in that issue but now you're getting

a majority of white people demonstrating when they're not the ones that have been stopped by the police or whatever or been shot or whatever and that that makes me think that the younger people know what kind of country they want to have what kind of world they want to have that much better on the issue of race they're much better on the issue of prejudice they're much better on the issue of the environment so i have optimism that i think the young generation is taking over what are you doing on tick tock. your rule man larry. well i didn't say. my son my grandsons school was having a fund raiser and they wanted me to be you know d.m.c. of the archon and whatever and one of the contests. at this

dinner was going to be the tick tock contest and people would send in their videos because we had to do the think remotely so they asked if i would do the demonstration of the tick-tock and i thought a tick tock was like a breath mint oh i didn't know i'd go as far yeah. and anyway so i did a video which apparently went not which went viral and but i'll never dance again. gerri thanks so much always great talking with you stay well you are the best you've always been the best thanks so ari we thank jerry springer for joining us thank you for joining us to remember you can join the conversation on my facebook page or tweet me at kynge things and don't forget to use the politicking hash tag and that's all for this edition of politicking.

it all mixes called the dismal science for reason it is often imprecise in almost always open to see what you want to see in many ways economics remains an armed conflict for economic situations it sets us all now is much more than about our politics it's about the way we live for this foreseeable future are we witnessing the recovery is so trying to be.

they can come and blow our brains out at any given time and we can't really do anything actually america is the only country in the world where you can kill people outside war and legally get away with. all of the fire crawls stillbirth all the troubled history fail the point it's hollow flame the k.k.k. exists because america wants it to exist they have the biggest terrorist group to ever operate in this country and they're dead to me they're worse off than the people who destroyed the world trade centers of the scroll why.

join me every day on the alex salmond shill and i'll be speaking to us of the world of politics spoil. this unless i'm show business i'll see you then. greetings and salutations. i tell you my friends here in washington d.c. you can feel you can feel the fear on the streets it's palpable it's as thick as virgin your humidity in august but this fear of my friends isn't coming from the thousands of protesters that have descended on the imaginal mall or lafayette square or the d.c. residents navigating both the covert 19 pandemic and the black lives matter protests no no this tidal wave of fear is emanating from the marble.