AGF's Valliere: Scary headlines don't make hairy recession automatic

Greg Valliere, chief U.S. policy strategist for AGF Investments, says that while there is no sugar-coating the problems of the economy -- inflation, rising interest rates, a rough housing market and more -- the likely recession that lies ahead will be shallow, and will have a reasonable recovery once the Federal Reserve proves that the bitter medicine it is providing to quash inflation won't go overboard and kill the patient. Also on the show, Mark Hulbert discusses his recent column on MarketWatch where he added his own flair to some new academic research showing that the classic "4 percent rule" on retirement withdrawals is leading savers astray and that the proper spending amount to ensure that someone not outlive their money may be less than half of what most people are planning for. Plus Chuck talks about his annual cash-or-candy, trade-or-treat Halloween event and the choices his neighborhood kids went for when they came to his home Tuesday night.