Dave ramsey missed a very important part of the equation, money printing.

People conveniently leave out corporate greed. There have been CEO's on recorded calls celebrating record profits and their ability to push price. But nothing will be done because too many of our politicians basically work corporations and do not care about the working class.

I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.

Society will get through this, learn from this, and completely ignore what they learned 15 years from now.

I'm glad I listened to Dave Ramsey a decade ago. Granted I don't own a house right now but I am debt free except for one personal loan of $400. We rent an large old farm house for $600 a month. It comes with roughly 15 acres and we heat with a wood stove and wood collected for free. We have well water also. Our electric bill in February was $63. I can't find a house that will give me all these benefits for the price I'm paying. It's worth not owning a house with a price like this. With next to no debt I can afford to stay home and homeschool my kids. Once they are out of the house I can go make all the money I want but for now it's family time while my husband works.

The reason for inflation is because they keep printing money.

Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.

"It doesn't matter if your'e Republican or Democrat, stupid is just stupid"...Dave Ramsey

I am surprised Dave never mentioned the so-called “quantitative easing” that’s been going on. (AKA printing money out of thin air).

If you are on the Dave plan and owe nothing this is not killing you, but it still hurts on every dollar you spend.

Cheap debt causes higher prices. Happened with houses, happened with education, happened with cars. It's not a good thing to pay 18% on a mortgage, but if that's what it takes for people to realize they shouldn't have a million dollar mortgage, so be it. It's not good for the economy if housing prices increase 10% a year, while savings accounts make 1% and wages increase 2-3%. It's just not sustainable (even without inflation).

Many states have had a federal minimum wage of $7.25 per hour for twelve years and that is why people cannot afford to live decently. And wages did not go to $20. Most people are lucky if they make $15 an hour. In 1980 mortgage rates were indeed high but homes were $85,000.

Dave definitely should’ve touched on the main driver of inflation which was quantitative easing. The federal reserve created trillions, and trillions of dollars and made them available to banks and large corporations at almost no cost.

Term limits on ALL politicians with a standardized salary and laws against kickbacks. Take away the incentive to become corrupt.

George is a Yes man. He can’t think for himself when he is on with Dave. Kinda funny to watch

Inflation is purely from availability of the US dollar. The FED prints more money every year, meaning there’s more dollars available, therefore it’s value goes down. Guess what happened when we printed trillions in stimulus checks, PPP loans, and all the other nonsense? 8% inflation. Giving people free money only hurts them in the long term.

Dave said this time it's "a different type of inflation" and the FED is using old tools to fight it because it is not an interest rate problem. Except for the fact that interest rates have been near 0% for the past decade making borrowing costs less than asset appreciation. We saw the lowest mortgage rates in history and housing prices went up faster than any other time in history, but these aren't directly proportional? Cheap money creates artificial demand. Now the party is over. The chickens are coming home to roost.

The government can’t stop spending!

And the reason why the housing market hasn’t slowed down yet is because the little inventory that exists is slowly getting gobbled up by big corporations leaving the average Joe to pay top dollar to play the game

Yes I want 11% savings rates. I’ll pay cash for a house.

The fed knows exactly what it's doing

Fed should have increased rates along time ago. I dont know why ramsey is complaining about lending rate increase. Cant have it both ways. Been near zero after 2009.

Dave is wrong. This is a multi-pronged problem. Quantitative Easing, Supply Chain Constraints, Minimum Wage Hikes, Fuel Cost Increases and Covid Checks. I own a manufacturing and retail business and THIS is the problem not just ONE thing. RAISING interest rates goes after all of them by cooling the market.

"Inflation is always and everywhere an monetary phenomenon." - Friedman. The problem with what Dave is saying is that inflation has hit where there were not supply disruptions as well. When you have 80% of the money created in the past 18 months, prices are going higher. And Fauci didn't help either.

And they printed/created more money from thin air.

I'd rather not be essential than be essential and not even make poverty level income

Dave is spot on. This isn't complicated folks.

Quantitative Easing aka QE aka printing of money

Don't forget companies price gouging and using inflation as an excuse. Many corporations are making record high profits now

THE ECONOMY IS NOT BOOMING

I love it when he screams words lol 😂🤣😅 🗣️ Fauchiii!

They also printed money during the pandemic.

"Inflation is always and everywhere a monetary phenomenon." - Milton Friedman

Turns out everyone is essential

Increasing the M2 money supply by 40% in 2 years did not help. Turn off the damn printing presses.

Cannot have inflation without more money than goods/services - Cannot have more money without printing it. Fed is single largest contributor to inflation by a large margin.

The cause of inflation doesn’t matter Dave. The Fed has a legal mandate to keep inflation at 2% regardless of the cause of the inflation

Inflation has been rampant for decades in stocks, housing and education. The effects of inflation have finally transitioned to energy, food and daily necessities (And still is in stocks and housing). Inflation is the expansion of money. Rising prices are a result of inflation. Anyone that tells you otherwise is a product of public education.

Dave, they also paid people to stay home with freshly printed money

Hey...we need someone to blame for our problems. I know...blame Fauci! 😂😂😂

What I recall is that there were a lot of people who didn't take the pandemic seriously, hence prolonging what could have been a short down turn. Just think about it. If everyone took action immediately, things could have been contained and dealt with in a few months, but nope. We really shouldn't need the government to tell us to stop being idiots. However, given the number of people who still drink and drive, here we are.

Thank you.

Money printing and cheap rates for a decade lead to inflation. Inflation was coming one way or another. The supply chain issues due to the pandemic expedited the process. But inflation needed to be reigned in to control prices which (real estate, stocks, etc...) which were massively inflated because of printed / free money, which by the way the Fed helped our govt print. Increasing rates pulls back RE and Equities prices from increases that were historically out of whack due to the fact that everything was increasing in value while at the same time productive output was near all time lows. This is the consequence of living for 2 years in an upside-down world 🌎 it needs to happen.

I didn't know that Fauci could close down the world. That's a powerful dude.

I would love if Dave would address the record high corporate profits and its role in inflation.

The economic definition of inflation is the government increasing (inflating) the money supply which causes more dollars chasing the same or fewer goods, which causes a price and wage spiral.

Even Gatorade went up.

So those trillions of dollars of quantitative easing (a.k.a producing new dollars out of thin air) didn't have anything to do with it?

2:01 All jobs are essential. A window washing job is essential to the person and family that depends on that paycheck

Dave Ramsey for Federal Interest chair!!

Dave is right about the causes of our inflation.

I'm not so sure about this episode of Ramsey. High interest rates don't do banks any favors, not in the medium to long term, anyway. Conversely, high interest rates do give investors options as to where to put their money. Yes, the equities market has a long history of stella growth. But times have changed. Tides come in, tides go out. But they do so at different times of the day and their magnitude varies with the time of the year. "Just put it in mutual funds" has been a very good call for more than two decades. "Grab a paddle" might well be a very good call for the next two.

Ben Bernanke's face should be in the thumbnail, not Jerome Powell's. The Powell hate needs to stop.

I love how Dave, the almighty king of the dollar, NEVER mentions what actually causes inflation....PRINTING MONEY OUT OF THIN AIR!!!!

When you were called essential you got to go to work every day for nothing other than your hourly wage while everyone else got paid by the Government to stay home. Seems fair

The lesson I'm getting here is to be a bank, they always win.

I want it.. 10% savings. Price of goods comes down. Nice Houses are under 100thou.. those houses now are 500 to 800 and savings rates low.. id rather not have to spend a cool million for a normal house.

Man, I like Dave but he couldn’t be more wrong here. You can’t talk about inflation without mentioning the epic amounts of cash printing.

It goes back to the 2008 crisis. Interest rates were cut then. From 2008-2020…rates were barely raised despite the economy recovering and then some. When COVID hit, we had a much smaller tool to use because rates were still low. I mean l like my 2.8% interest rate on my house loan but it should be at least 4%.

The Pandemic accelerated inflation trends already in-place. Go back 50+ years to when the dollar was detached from the gold standard to understand modern inflation.

Interest rates are increasing, debt of all kind is increasing, yes, this will end well. Raise those rates Fed!!!!

They need to stop spending and printing money

At 6:37...... Yes, Dave....the tradeoff IS WORTH IT...for some of us, especially your listeners who have no debt.

Yay! More interest income for me. I'm getting rich.

In two years, we increased the money supply by 40%, that’s what caused inflation.

Ironically, Dave is the only one still subscribing to the "transitory" theory of this inflation--once the supply chain moves and toilet paper is back on the shelves prices will fall back to as before.

2:19 ultimate snobbery. What an irony. Not only US, but Europe, UK, India, and South Korea raised interest rates. They all are wrong, while only Dave is right. And who didn’t raise interest rate? Turkey did not raise interest rate. Their economy should be booming and their inflation should be 3:04 “smooth down on its own” by now according to Dave, instead of raising to 50%. The lockdown in the US was lifted in July 2020. People started working and yet inflation got worse, 9.1% in July 2022, which was two years after all nonessential businesses started working. Federal Reserve chairman talked about supply problem for like a year refusing to raise the interest rate and then it became clear that excess of cash it the reason. Other countries like Canada and Spain had a much longer lockdown then the US, and they did not have Anthony Fauci. They had a real lock down unlike here the US.

Don't forget 100 billion to Ukraine and bank failures. Endless money printing.

Thanks for explaining why mortgage rates are affected by bonds. I’ve never understood the connection & still very confused. Can you educate us on more things: 1. What is a “basis point”? When the FED raises rates by “25 basis points“, what does that even mean? 2. How are bonds related to mortgage rates? Bonds are on the stock market so why would they affect my price of mortgage? 3. What are “points” on a mortgage? I took an economics class a long time ago, but apparently only walked away knowing about supply and demand and the saying, “There’s no such thing as a free lunch”.

Dave, thank you for speaking the truth

Yeah… I don’t think Dave totally understands this issue

I thought Dave doesn’t believe we have inflation

artificially low interest rates skyrocketed housing costs past Dave’s advice of 15 years 20% down, i would take 18% mortgage then prices might come down enough for that

Ramsey's got all the answers

Thank god i refinanced @2% getting paid to hold my mortgage...

So don’t borrow money and rates won’t matter

"Hospital math is a lot like government math: neither really make sense and the outcome is never what was budgeted," an older surgeon I worked with 5 years ago.

Dave, I agree with you 100% on debt repayment, but don't blame Dr. Fauci for the supply chain shortages blame it on the pandemic. FYI, the US was not, and is still not the only country suffering from high inflation.

We are just nor starting to feel the lifting if interest rates from 6 months ago due to the lag effect. You think its bad now, I bet it gets crazy on an upward path until the end of the year.. they’ll probably pause the raising of rates at the next meeting, and then people will look around thinking things will be back to normal in a few weeks.. and itll just keep getting worse and worse 😅

He'd never be able to get through this story if that new girl was co-hosting as she cannot shut up for a second...

Not a word about record corporate profits, and how 50% of inflation is due to price gouging.

Keep jacking those rates up! I am getting some awesome CD rates. I for one love this inflationary period, and am benefiting from it big time!

B.S. The housing market needed to slow down and I'm in the business!!!

He is partially right. A lot of supply chain issues and lack of supply was generated in other countries. It’s not like everything is produced here. World wide factories were shut down, etc

It’s more complicated than Dave explains here

When you call it government incompetence, you're incorrectly assuming it's not intentional.

I hope Dave knows it’s all being done on purpose.

Spending is up and consumer debt (credit cards) is spiking at the same time. Translation: People are spending money they don't have. This is not a sign of a booming economy.

Yes ! TERM LIMITS now Dave. ..these politicians need to leave DC after 20 years. Absolutely no other jobs afterwards like being a Lobbyist !

When you increase the dollars circulating supply by 25% in a very short period, there will be economic shock. Welcome to inflation

The real reason is fractional banking

His comment comparing DC to the Island of Misfit Toys makes me want to go back and rewatch that movie LOL

Inflation is not so bad for Dave real estate and mutual fund portfolio

A comfortable place to be in is to have locked down a sub 3% APR fixed mortgage a couple years ago and then funnel your savings into a high yield savings account when the interest rates start to climb.

The reason for inflation is because the monetary system is intentionally designed that way.

We never should have used QE like we did. It should nevwr have been that cheap to borrow money.

This is a fundamental misdiagnosis of the primary cause of inflation as it currently exists. The primary cause was the spike in money supply associated with the COVID fiscal stimulus.

I also think raising minimum wage (which im fine with) has raised inflation because big business raise prices to compensate so the ceos and higher ups still continue to make oodles more than the average worker. Effectively negating the wage increase

I love me some Dave Ramsey. Tell it like is…

We should have raised rates years and years ago. The fact we didn't is stupid.