DTV2009.gov - Request your digital-to-analog converter box by calling 1-888-388-2009
CarsDirect.com - Shop for cars online
TUG2.net - The Timeshare User's Group

There's been a lot of misinformation out there about the February 2009 switch from analog to digital broadcasts in the TV world. Digital signals take up a much smaller chunk of spectrum than analog ones. So this change will allow the government to reclaim wireless real estate from TV stations and then sell it off at auction. You might think that your old, non-digital TV will be useless when the change is made. But that's not entirely correct. First, let's clarify who this coming change will affect. The more than 80 percent of people who use cable or satellite to get TV won't have to worry about anything. It's the less than 20 percent who watch TV for free with rabbit ears who will have to make a change.

Here's what you need to know if you fall into the latter category: Your old TV will not be trash in 2009. It just needs a converter box that allows it to accept digital signals. The feds are subsidizing two $40 vouchers for each person with an old TV. But don't run out to get them just yet; the coupons are only good for 90 days and the boxes are still fairly expensive. By the fall, Clark expects that they'll be at a price point where the vouchers should cover most of the cost. The neat thing is that the picture on your old TV will improve once you get a digital signal.

Now is a great time for a home renovation project. Business is so slow that contractors who couldn't return calls previously are now begging for work. The whole process is more affordable. However, The Wall Street Journal reports that the payback during resale is not amazing. For example, you can expect to get back about 75 cents on the dollar if you're doing a big kitchen remodel. So try a minor upgrade instead that can freshen up your home and doesn't cost a fortune. But make sure you're doing it for the right reason -- because you and your family will enjoy the results. Don't go chasing a financial reward that's not going to be there.

Of course, having contractors in your home is not enjoyable. Clark's rule of thumb is expect it to run 30 percent over-budget and for it to take 50 percent longer than planned. One word on expense: The more specific you are about what you want to accomplish -- as to the materials, the scope of work -- the more likely you'll be happy. Hiring a contractor is like getting hitched. It's much easier to get into it than it is to get out. And the honeymoon period ends very soon once they're on board. So do thorough reference checks. Ask the contractor's former clients, "Were they on schedule? How much did they go over-budget?" Go see the homes of former customers if possible. If deadlines are important to you, write it into the contract. But in order for that clause to have teeth, you need to stipulate monetary penalties if work runs over-schedule.

In the latest session of Clarkonomics, Clark delivered a "Recession 101" lecture. Read on for an easy-to-understand primer about this much-used term. Clark recently got a chuckle out of a Barron's story that featured economists stating the odds that we'd go into a recession, just like they were betting on a game! To be in a classic "recession," the gross domestic product has to have declined for 2 or more successive quarters. In layman's terms, that means that the sum total of economic activity in the United States has to have gone down for six straight months. Our nation has been fortunate enough to have steady economic growth. Our last real bump in the road was in early 2001. To complicate people's understanding of a recession, you can also have what's called a "growth recession." That's when unemployment rises but the overall economy continues to limp along OK. At best, we are in a growth recession right now. Another term you may hear is "misery index," which is equal to the rate of inflation plus the rate of unemployment.

It's very difficult to deal with both high inflation and high unemployment at the same time. Typically, you have to create stimulus to get the economy flowing again. To do so, the Federal Reserve may flood the market with money or the federal government may create job programs. We've had great run economically in this country. There are a lot of factors that suggest we won't have a great run in the immediate future. So here's Clark advice: If it looks like the storm clouds are gathering, it's your job to get your umbrella and clean up your financial house to deal with the rainy days that may come. Meanwhile, Jim Cramer has been saying that people are talking us into a recession, that it's a self-fulfilling prophecy of some kind. Clark disagrees. What matters are the fundamentals. Clean up your house and you'll survive.

The holiday shopping season was worse than expected by retail. Circuit City sales dropped 10 percent in December, and that's in the hot realm of electronics. The flip side to this story is that now there are great deals out there in the retail world. January is the sweetest month of the year to look for bargains. Clark was recently in a discount store when he saw bags of bows that were originally $2.99 marked down to 9 cents! So he bought 9 packs for 81 cents and now has 270 bows for years to come!

Clothing is one sector where you can find some real deals. Retailers are always looking 1 season ahead. Last week, Clark bought a lambskin leather jacket on clearance for $59. If he had bought it in the fall, it would have cost more than twice as much. So Clark's rule of thumb is to follow the calendar. On the first day of winter, winter clothing goes on clearance. On the first day of spring, spring clothes go on sale, etc. One caveat: Do not buy back-to-school clothes for your kids before they get back to school. The retailers try to trick you with non-sale sales in the weeks before September. Speaking of school, Clark once saw 20 pens for 20 cents after the kidlets returned. At a penny a pen, you better believe he stocked up!