Dave Ramsey on the disconnect between the economy and reality

  • 2 weeks ago
Dave Ramsey, CEO of Ramsey Solutions, joins TheStreet to explain why there’s such a big disconnect between the economy and reality.
Transcript
00:00So listen, there's a new buzzword making the rounds, flex session.
00:04You kind of talked about this a little bit earlier in the conversation.
00:08You talk to a lot of people out there.
00:10What do you make of the disconnect right now between how people are feeling,
00:14how they are actually spending, and the actual tone or tenor of the economy,
00:22the U.S. economy right now?
00:24Yeah, it's weird. I agree with you.
00:28I mean, when you sit and complain, as we said earlier, that your life is awful,
00:34but there's Amazon packages on your doorstep every night,
00:40what? I mean, come on, what are you doing?
00:43So you can't have it both ways.
00:47These people are actually psychologically anxiety-ridden
00:52by the horrible economy, and they're boxed in.
00:55They're victims of this horrible economy, in air quotes,
00:58and yet they spend like they're in a prosperous economy,
01:02and on superfluous stuff. It's not necessities.
01:06So I mean, I could go through people's budget, and it would make you cry,
01:10some of the stupid butt stuff people are doing with money,
01:13while they're complaining that they're in a horrible economy.
01:18Listen, if you're in the middle of a storm, you're batting down the hatches.
01:22You don't keep jumping in puddles.
01:24You know, you get inside, you close everything up,
01:27and you huddle down until the storm passes.
01:30But no, this bunch isn't doing that.
01:32They're out playing in the lightning, and then complaining about getting struck.
01:37So that disconnect is very real. We find that everywhere right now.

Recommended

1:58
I
Up next
Yelp sues Google over antitrust violations
The Street
2:35
How Dave Ramsey pulled himself out of bankruptcy
The Street
2:43
The difference between traditional and alternative credit scoring
The Street
3:13
Dave Ramsey’s advice for finding financial balance
The Street
3:26
What it takes to afford a home in the U.S., according to Dave Ramsey
The Street
1:16
Dave Ramsey Offers Clear Financial Advice for College Grads
The Street
2:53
Here's how to stand out in a competitive job market
The Street
4:22
When it comes to your finances, self-awareness is key
The Street
4:50
What’s behind the sudden drop in savings
The Street
1:26
Dave Ramsey Shares The One Thing All Millionaires Invest In
The Street
1:19
Dave Ramsey Shares One Piece of Money Advice That's in All of His Books
The Street
3:09
The disconnect between perception and reality for the economy
The Street
2:06
Where consumers are deciding to cut back
The Street
0:46
Debt Ceiling Deal: What It Entails
The Street
3:08
How to balance saving vs. paying off debt
The Street
1:15
Dave Ramsey Dismantles Kamala Harris's Price Control Plan – 'It's Not Sustainable'
Benzinga
1:11
Economy ‘Hasn’t Felt Much Pain Yet’ As Powell Faces Congress
The Street
1:43
More Bank Failures Ahead, Economist Says
The Street
1:35
Why Silicon Valley Bank's Collapse Is Spooking Wall Street
The Street
2:26
The biggest financial mistake you could make, and how to avoid it
The Street
2:47
This company uses the gym model to help with personal finances
The Street
2:04
FTC to funeral homes: Stop misleading bereaved customers
The Street
0:54
"Everybody Else Is Getting Rich And You're Helping Them" — Dave Ramsey Says Car Payments Are Keeping You Broke And 'Trapped'
Benzinga
4:15
There’s still reason to be bullish on the economy
The Street
1:17
How women helped the U.S. economy avoid a recession
The Street