Boom Bust Season 1 Episode 120 Overdrafting at Walmart and Gerald Celente Talks Ukraine, US Econ, and Investing

Boom Bust season 1 episode 120 explores a hot topic in the retail industry, overdrafting at Walmart. The episode investigates the fees and interest rates that Walmart charges its customers who overdraw their accounts. Experts in finance and consumer advocacy discuss the implications of these practices for Walmart customers and the broader economy.

In addition, Gerald Celente, the founder of the Trends Research Institute, is interviewed about various economic topics, including the ongoing crisis in Ukraine and its impact on global markets. He also gives his insights on the US economy and makes recommendations for investors looking to make smart financial decisions.

The episode begins with a discussion of Walmart's overdraft fees and practices. The show's hosts explain that Walmart offers a unique banking service to its customers, known as the MoneyCard, which is a prepaid debit card that can be used like a regular debit card. However, the card comes with some notable drawbacks, including high fees for overdrafting.

To shed light on this issue, the episode features an interview with Lauren Saunders, the associate director of the National Consumer Law Center. Saunders argues that Walmart's overdraft fees are excessive and can have a particularly negative impact on low-income customers who are already struggling to make ends meet.

The episode also features an interview with John Berlau, a senior fellow at the Competitive Enterprise Institute. Berlau takes a different stance, arguing that Walmart's banking services offer valuable options for customers who may not otherwise qualify for traditional banking services.

Next, the episode shifts to an interview with Gerald Celente, who is known for his expertise in analyzing economic trends. Celente weighs in on a range of topics, including the crisis in Ukraine and its impact on global markets. He predicts that the instability in Ukraine will continue to create volatility in global financial markets, particularly in Europe.

Celente also discusses the state of the US economy, including the high levels of debt and low interest rates that have persisted for several years. He expresses concern that this situation is unsustainable and argues that investors should be cautious about the potential for a major economic downturn.

Finally, Celente shares his advice for investors looking to make smart financial decisions in the current economic climate. He suggests focusing on tangible assets, such as gold and real estate, as well as investing in companies that are positioned to benefit from emerging trends, such as renewable energy and health and wellness.

Overall, Boom Bust season 1 episode 120 offers a thought-provoking discussion of several important economic issues. Through their interviews with financial experts and consumer advocates, the hosts provide in-depth analysis of Walmart's banking practices and the broader economic challenges faced by consumers and investors. Celente's insights add an important dimension to the show, allowing viewers to better understand the complex economic landscape and make informed financial decisions.