Best Podcast Setup for on the go Recording

What is the best podcast setup for on the go recording? Can you start a podcast on your phone? I've got some gear recommendations for your audio and podcasting needs that start with a minimal investment, and then increases as your workflow and production demands increase.

All of this audio and podcasting equipment mentioned here can be used for multiple recording setups. I've personally used all of this equipment both for podcasting and for video work and interviews on the go.

The flexibility of having a mobile podcasting setup presents an almost endless number of opportunities for you to nail that audio experience at a higher quality while not entirely destroying your wallet.