Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Oh, for sure. In 2016, I took a hit with tech stocks-lost about $70k in just a few weeks because I wasn’t prepared for the regulations that followed the election. But I did make around $85k by shifting into defense stocks, which surged after the election. It was a rollercoaster, but I didn’t have the right strategy going in. things got better when i employed the services of a CFA
Finding financial advisors like ‘Celia Kathleen Martel’ who can assist you would be a creative option. There will be difficult times ahead, and prudent money management will be essential to navigating them.
I love how Dave puts it. He obviously favors one party over the other, but he will not get brain wash to believe that one party will come in as his knight in shining armor to save him. Like he said, he has made money and done well regardless of which party is in the white house. I think more people need to think that way. As Dave said: "Do it in spite of them, not because of them" with finding success regardless of who is president.
Balanced take. Anyone who has been listening to Dave since the 1990’s should know his stance on working your plan and minding your own business despite who’s in office.
Dave has definitely given basically the same advice on politics for decades. I do think its somewhat privileged when youre a white male millionaire saying you'll prosper under any president.
If you’re following Ramsey advice & investing at least 15% of your income in quality mutual funds (ie S&P 500) you have had a VERY profitable year! The returns have been amazing roughly 22%.
The market's direction can swiftly change, with indexes frequently transitioning from a bear market to a bull market. It's tricky during election years. I recently inherited a lump sum and want to invest it wisely. Any tips or strategies to take advantage of this potential upswing?
imho, the average person finds it difficult outperforming the market on a day-to-day basis. In actuality, most people who have the necessary abilities are advisors with experience since the '08 crash and beyond
Agreed, I once downplayed the role of financial experts until suffering 40% portfolio loss amid 2020 lockdown, at once I consulted a pro and my portfolio was revamped thankfully. As of today, I'm just about 10% shy of my $1m goal after 100s of thousands invested.
Thanks for the info. I searched for her full name and found her website right away. I reviewed her credentials and did my research before reaching out to her.
As the upcoming election approaches, I see potential economic benefits on the horizon. With $545K from my home sale, I'm weighing investment options. Will the election spark market growth, making now an ideal time to buy into stocks, or should I wait for the dust to settle?
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skills and knowledge
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I once told someone that there is no such thing as a business-friendly environment. No matter the economic landscape, some businesses will thrive, and others will fail. The businesses that endure for decades are those that adapt.
@@bondobilly9369 It is just not the green push. It is also mismanagement, the higher cost of American labor versus cheap labor and some American businesses that cannot adapt to change.
Only 52 US companies that were in the Fortune 500 since 1955 remains today. It isn't just about adapting, it is about strategy as well. If you can't adapt to change fast enough (because your company became too big and too bureaucratic, then you can buy out the competition via merger and acquisition (that's what Jack Welch of GE did back in his time as CEO, he was buying up 300 companies in a year for GE). If you cannot buy the competition out due to anti-trust laws, you can operate overseas for higher margins by charging higher prices due to less saturated markets, which then allows you to operate at cost domestically (your international profits allow you to subsidize your losses in the US and force your competition to bleed cash trying to stay low cost with you). Many ways to use strategy and not just rely on adapting (which favors smaller and more nimble companies).
The upcoming election is expected to significantly impact the economy, with potential increases in government spending and easing of central banking policies. Key issues like immigration, abortion, and economic policy may influence the outcome, affecting sectors like consumer spending, housing, and global trade. The election's impact will depend on various factors, including the outcome, policy changes, and global events.
I've been working with a financial advisor to prepare my portfolio. He thinks a Democratic win would boost healthcare and renewable energy stocks, while a Republican victory would favor finance and energy sectors.
My advisor recommends diversifying across sectors and asset classes. We're positioning my portfolio for a potential 200% surge in tech stocks, regardless of the outcome.
We're looking at ETFs like ARKK and TAN, which track innovative and renewable energy companies. He's also suggesting dividend-paying stocks like Johnson & Johnson and Procter & Gamble for stability.
This was spot on. My savings and investments increased but only because i paid off my car. Moved in with roommates and did what I had to do to spend less. Such is life.
well, the reality is that companies think like this each year when they go through business planning. They review their assets for under performers and sell those off, use the proceeds to either pay down debt or reinvest in plant, equipment or talent, look for ways to streamline and become more efficient in order to generate more value for shareholders. Why would individuals operate differently.
One thing for certain is if you spend more than you take in it leads to major problems and when people stop receiving free money there will be major problems. Better be prepared
As a pastor I appreciate a great honest answer Dave. I know it is so tempting for people nowadays to delve into all sorts of partisan comments that are highly exaggerated. No need for people doing all sorts of fear mongering as there are plenty people doing that. Thanks again, Dave!
@@mattevans9140 I can only assume you've sacrificed your Christian witness for the sake of political pursuits. Like trading your birthright for a stew. That is stew-pid.
Very balanced. The market and politics are two separate forces. They do intersect, but for the most part the market does its thing regardless of who is in charge.
The market's direction can swiftly change, with indexes frequently transitioning from a bear market to a bull market precisely when the news is most negative and investor sentiment reaches its lowest point. It's tricky during election years.
the average person finds it difficult outperforming the market on a day-to-day basis. In actuality, most people who have the necessary abilities are advisors with experience since the '08 crash and beyond
Agreed, I once downplayed the role of financial experts until suffering 40% portfolio loss amid 2020 lockdown, at once I consulted a pro and my portfolio was revamped thankfully. As of today, I'm just about 10% shy of my $1m goal after 100s of thousands invested.
‘’Aileen Gertrude Tippy” is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
such an eye-opener! cant wait to experience financial advisory at first hand... curiously inputted Aileen Gertrude Tippy” on the web and at once spotted her consulting page, she seems highly professional from her resumé
Thank you for your wise opinion, Dave. Most voters are not small business owners tho. So, working for a company, small or large, is the concern of the wage earner. A good Economy is what will matter to the rest of us. Which candidate is smart enough to bring it. I really don't care if I don't like the person, I just want to keep more of my money.
Giving our taxes to illegal immigrants is ridiculous. Giving cash to first time homeowners won’t help. They won’t be able to make the mortgage payments.
Either way I’m currently preparing a quarter acre of yard to grow 80% of my families produce and made friends with local farmers and ranchers so I will be getting a few hogs and a cow this Christmas so my family can eat without going bankrupt.
Live off the land, it works until you get sick and realize you don't have insurance and can't barter 4 months worth of bacon with a doctor for cancer treatment.
I don’t get any money from the government either Dave, but under the current regime , I have a lot less money. Im not a multi millionaire like you Dave, but my savings has gone down. Twice as much for gas and food and electric alone has hurt us. We’ll be fine, but I can’t save and invest like I could before.
Hear you so I remember reagan saying are you better off, I am but not a president doing but it's obvious who had a better economy and the other one didn't do squat to improve so God bless you in this fall
I love how people pretend gasoline hasn’t gone up and down in price forever, regardless of who is in the White House. It’s also interesting how folks who act like the price affects their vote seem to pay zero attention to the fact that the price has been going down for about year.
Dave Ramsey said that politicians don't matter in early 2020. His ignorance was astonishing to me. Certainly, personal financial behavior is important. However, when politicians make the economy horrible then the baby steps are significantly difficult to do.
a ibm manager was once mentoring me on telling the customer the truth about their ibm equipment, he said if you cant tell the truth just dont say anything. kinda like dave here.
My understanding is that if that were to pass, it is only going to affect people with over 100 million of assets. So if you have over 100 million, congratulations! If not, you have nothing to worry about.
@@nathanielhenkel9178what are you talking about ? What do you think happens to the stock market when all the rich people have to sell 25% of profits per year just to pay taxes ? Bye bye retirement income
@@Mikefeher1313 If your plan is to invest rather than speculate it would be a bonanza as you were able to snap up cheap assets. With that said there's no way the donor class will let that pass and at the end of the day they have far more political power than either party.
You told us that much wasn’t going to change with this past election either but I don’t know about anyone else but these grocery store prices ARE RIDICULOUS…. So yeah it did change my life … and I already had a home but I bet people wish they were under the trump administration trying to buy a home. These interest rates are insane.
actually the govt kept my home interest rates about 6% my whole working carreer, it was a normal thing as this will be to you now. prepare to be screwed over this pretty much forever in your working carreer.
I agree that you have control of your money regardless of who is in office. I don't agree that it can't hurt you considerably. I can't tell you how much more money my husband and I would have saved up if these gas, grocery and rent prices haven't shot up well over 20% in the last 3+ years. Arguably in the 4 digits. So ya, it won't ruin your life, but it will hurt like a bitch. People like Ramsey tend to forget what it's like for people like us near the bottom trying to clean up our messes and get to the top responsibly, only to constantly be getting kicked down every time these prices keep skyrocketing. Must be nice being in a spot you can hardly feel the change and tell everyone else they're over exaggerating.
@@joshuawilliams6153your douche boy Biden messed with oil / fuel / pipelines and exasperated things ten fold Biden Harris -worst administration in history
when you can do consulting or other work from home it just shows how dumb employers are. who works a full time job while surfing porn or shopping from a office other than govt employees?
People also need to focus on their own state laws instead of the federal government. Alot of people I know complain about certain laws and regulations, thinking the president can fix or change it. I tell them it's a state law, not federal. Then they get mad at me and tell me I don't know what I'm talking about. 🙄
You were able to do what you did bc of the policies/systems in place at whatever time you prospered more or less, not just what YOU did. Wait till they start taxing unrealized gains & see how well you/others/we do!
"They" also promised student loan forgiveness. "The other guy" promised constructing a fortified wall that Mexico will pay for. None of it happened, now you think they will really tax unrealized gains? Do you know how much unrealized gains our friends in Washington have in their networth? Pick any senator, any house of rep, any White House Cabinent member, any Supreme Court judge. They would never do it because they are all worth bank and their money is tied up in investments. Also, they would piss off their supporters with money, who will then pull campaign financing. Don't believe what both sides tell you, when they open their mouths, they lie.
Unless the government reduces spending, your taxes are not really lowered, they are postponed. Reducing taxes while running up deficits is like making the minimum credit card payment.
This is very sound advice. Biblical. I pray we have an end to these outrageous gas and grocery prices! Praying to be debt free! Thanks for giving good advice
Jobs are not coming back until labor costs here in US go down to the level that they become comparable to costs in foreign countries. Companies are still exporting jobs. If we are saying that AI will bring jobs back, question is how many???
I have 2 jobs. I am sick of some people blaming workers for the shortage of jobs. There are jobs. So many people, both workers and management, cannot adapt to change. For example, we do not need any more historians, but we need electricians. Also, executives that do not increase the values of their firms do not need to get huge bonuses. Dang, I am rambling.
you will never compete with chinese or india labor costs and have a decent standard of living. 60 years ago they said that the chinese could stand 100,000 abreast and walk into the sea and they would never run out of people.
Do you vote Dave ? You said neither one of those “goobers” effects your wallet. But I think you don’t want to say anything positive or negative of either one because you don’t want to lose any viewers. But I’ll say this, one party is against God and all that God has created. Think about that.
It’s better to live with the belief that no one owes you anything. And if you work in a factory or a building that you didn’t personally build ………… then you’ve got some of that “trickle down“
Trickle down works, Taxing Companies above 25% does NOT. For the simple reason as stated, companies that have money overseas cannot INVEST BACK in America.. why, because overseas governments make better deals
But for a middle-class individual (or family), the government under certain leaders TOTALLY affects our finances. Dave dose not run a small business anymore, he has a big business... good for him, and I love him and his general advice. However, he's now out of touch with middle-class families and small business owners in such places like California, where the election has dire ramifications.
99.9% of businesses are considered small American businesses, there are in fact 33 million small businesses that employ 61.7 million Americans, totaling 46.4% of private sector employees. The ones that operate near margin will be affected and forced to shut down, leaving room for competition to get better and new businesses that are stronger to join/start-up. How many times have you walked into a restaurant and wondered why the food & service is not great, but they still are operating? Well, maybe tougher environments will shut down the poor performers and make better competition.
That's funny, even if he was in you can't do anything about the debt now, it's too high. If you or the American people wanted to do something about the national debt. You should have stopped voting the two party system or stop voting overall.
Clinton (D) -- gave the federal government a budget surplus Bush (R) -- lost the surplus and put us in a deficit Obama (D) -- reduced the deficit Trump (R) -- increased the deficit Biden (D) -- reduced the deficit In recent history, Democrats reduce the budget deficit and Republicans increase the budget deficit. Just putting it out there for those who think the federal budget and federal debt is important.
@@cjhoward409 You realize that the US Treasury have a very complex job, not just balancing a checkbook, right? One aspect of the Treasury is to protect national security from abuse by foreign and domestic actors. You have other countries wanting to create their own digital currency to undermine the US dollar as the world's reserve currency. People working in the US Treasury have to think strategically to protect American's best interest. It's not just balancing a checkbook and issuing bonds to raise funds.
Also Dave, I hate to break it to you, but your business is primarily driven by negative economic factors namely debt. The more that politicians hurt people by driving them into taking out debt for either literal needs or luxuries, the more your business prospers.
I'm not an economic genius but as a middle class citizen in Southern California, the post- Obama, pre-pandemic Trump years were the best years for us and anyone around us in at least a decade or more.. Everything had become more affordable and we had extra money to spend or save. The world was more peaceful and we actually felt secure and comfortable. Then the pandemic hit, and chaos from BLM and the nuts destroyed everything that Trump had built. And the other side used that chaos to blame Trump and then proceeded to cheat in the election and he lost. That is how it all went down. Here we are today and we have a chance to restore what we all once had. VOTE TRUMP!
From what I’ve read the economy does the best when each party controls one house of Congress. We, the American people, have historically succeeded the most when Congress has been in a state of gridlock and hasn’t done anything. When either party is in control and is able to push their agenda through American citizens suffer.
VERY WEIRD QUESTION: Is it possible to bring back 80 percent of the manufacturing jobs? What would have happened if the jobs that were never shipped overseas? Would the US have been better off?
when the govt bribed the car mfg to build evs it took way fewer people to install batteries and motors that gas and diesel vehicles so they got rid of a bunch of skilled assemblers that now are or very good early retirement in their 50s
All of Trumps crap are made in China, like that maga hat and those stupid shoes. Are americans prepared to pay 3 times as much for clothes made in US, instead of Bangladesh, Vietnam and India?
You can just buy a company in Canada to bring in your business parts from China and avoid the Tarrifs. That’s what my company did. Sales are slow/low and yet still making money, but the profit bonus will be lower.
I think people don’t realize that Dave is in the business of entertainment. This is another example that he really doesn’t know what he talks about. But as long as you believe what he says, then he will still be in business.
He's a bit too gruff & foul language for me. Plus not to have a CC is going WAY BEYOND rediculous in my opinion. Thankfully pay my 2 off every month (1 business 1 personal)
“What happens in your house is way more important than what happens in the White House” - Dave Ramsey Pray for our country and Go vote!! What happens in your house is way more important than what happens in the White House” - Dave Ramsey
Well, the stock market does tend to go up from bad leadership. Mainly due to the lack of value in the dollar. We’re doing real well farming. Some of what we produce is directly to consumers, and what isn’t is still directly marketed, not as tied to the commodities market. We have a lot invested in land, but don’t buy in all the inputs like conventional operations. We’re going to be fine, no matter what happens.
Dave is correct. However, depending on who is elected to the White House and to Congress, then it may be wise to make financial moves in December, to mitigate possible substantial tax punishment once the new Congress and President ratchet up taxes the next year or two.
Is it true that the previous president’s policies take 4 years to come into affect in the business world? (For example, 2020-2024 was really Trump’s economy rather than Biden, etc)
The bonus depreciation was a key part of the’17 tax reform, it was 100%, now it’s 60% immediate depreciation of any tangible asset with a 20 year life. It’s in the code available to all businesses. It makes Kamala’s $50k credit a moot point. Startups rarely make a profit, it took Amazon 9 years to turn a profit
I agree. Kamala allowing 50k deduction for start-up expenses (rather than 5K and amortizing the remaining over 15 years) won't do anything for start-ups. It politically might sound good, but it won't actually help anyone in a meaningful way.
Any talk of bring back manufacturing to America needs to include continued inflation. Trading Chinese wages for American wages is very inflationary. Maybe using Mexico to make products would be a somewhat cheaper solution.
The general concept that it really doesn't matter who is president, your life is not going to drastically change. However, I have several thoughts based on what was said in this video: 1. For manufacturers, Trump's proposed tariffs should be a major concern. Unless your supply chain is 100% in the United States, the tariffs will make things more expensive for you and your customers. Tariffs, if used correctly, can be beneficial to our country. But we must be very careful about them, because in the 1930's we used tariffs to try to protect American manufacturing and jobs, but all it did was cause a trade war and deepened the depression. 2. I want to comment on social programs and the tax environment. I have thought deeply about this the last 15 years that began with the passing of the ACA. My general observation is economic health of the consumer is key to economic growth. This was reinforced by the actions we took during COVID, where the economy did not completely collapse despite the shut downs, and this happened because of the generous unemployment benefits in the US and the generous subsidies to keep people employed in Europe and Canada. Our biggest mistake during that time was probably allowing all the layoffs that impacted supply chain. This event I think clearly demonstrates the benefits of a strong social safety net. We need to keep people employed, keep people solvent, keep viable small businesses solvent, understand and strengthen supply chain, and essentially make it easy for people to spend money and make money. So, I think it is worth it to have policies to provide universal healthcare, housing affordability measures, better city planning, universal child care, universal education, generous unemployment benefits, generous retirement pensions, and the like because even though these might raise taxes on businesses and individuals, it will keep capital flowing and the economy growing. We have been doing fine under the feast and famine ways of the economy, but the well to do often do the best under this while a majority do poorly. If we even out these cycles, it will give everyone a chance to prosper, and that will strengthen our economy and I believe it will generate more growth. 3. As an add-on, I also believe in strong investments by the government to develop advanced industry in the US. Innovation is our competitive advantage and it benefits us to be first movers in new technologies that can make a big impact on our lives. I think moving forward, if we fail to do this, China and Europe will eventually surpass us. I already see some of this related to the lithium ion battery industry despite the IRA act. Many of the companies building manufacturing here are foreign behemoths in competition with American start-ups. We are already at a disadvantage, but hopefully we pull through and can compete.
The trouble with developing a strong industrial sector is that limiting pollution, keeping your workers safe, and paying them a decent wage is a lot more expensive than doing none of those things, and paying lower taxes besides, and there aren't a lot of ways to hold foreign manufactories to the same behavioral standards we apply to domestic ones. Tariffs are one of them, but they're not all that precise.
Unfortunately those “generous subsidies” were given by printing money and devaluing the currency and were a large part of why we had such bad inflation. there are always unintended consequences to government intervention in the economy
@@tim6995 You can say that about any spending by anyone who borrows money. When people, businesses, or government borrow money, it expands the money supply. If the value of the goods and services available does not increase in tandem with money supply, that is when you get inflation or deflation. The government can spend lots of money and borrow it if it wants. As long as the value created with that spending keeps pace, then inflation stays in check. In the case of the unemployment benefits, even if the government borrowed 100% of the funds to pay for it, value in the economy was maintained until the demand outstripped the supply. The reason for that was a lot of our supply chain runs through China, which didn't lift its COVID restrictions until about 2023 and cramped the supply of goods. Thus, we had a normal amount of money to spend and not enough goods. This wasn't caused by an over supply of money. I am not an expert in monetary policy and economics, but from what I do understand, the Fed has tight control over the money supply. It raised rates to deal with increased inflation and if the inflation rates drop too much, they will lower rates. This is all to encourage or discourage borrowing. When the government intervenes in the economy by giving unemployment or bailouts, it is usually because they are trying to increase borrowing to trigger inflation and growth. My point specifically on generous unemployment benefits is the realization that when the markets show signs of strain, it is best to keep people employed or capable of spending money if an employer must lay off workers. If people stop spending, people and companies stop borrowing and that triggers a recession. However, if people never stop spending, then perhaps the strain is contained to the business community, and when that gets resolved, everything is still in place to continue growing, minimizing the impact of a recession on Main Street and having a lighter recession on Wall Street. This is all an effort to protect Main Street.
@@michaellazar4855 let me ask you, what happens to individuals if they continually borrow more and more money, only paying the interest, without ever paying back the principal? What you are talking about is modern monetary theory. The theory is that you can infinitely borrow or print money and just inflate or tax your way out of it. The problem is that it’s just a theory and has never been tried on a large scale until now. Generally, if it sounds to good to be true it usually is. And a real life infinite money glitch sounds way too good to be true
A lot of the ideas you put forth, though, are predicated on the fact that the government is spending money on things like universal healthcare. The rub there is that the government does have any money that they didn't take from someone else. I'd like to know the specifics of what you propose. Ideologies and concepts don't change anything. Actions do. So what specific actions are you recommending? Who, for example, is going to pay for universal healthcare?
You forgot "hitters" in baseball and they get worse every year and paid more. For those that rely on the government for everything it will matter who is elected. For those that rely on themselves, not so much.
you have that backwards, those that can will produce but at a much lower margin along with argueing with the taxman, those are the ones that need to wake up.
Dave’s numbers are way down after the show length change. I think it’s silly and we need to remember the heart of the lesson and not get hung up on silly things like show length.
Manufacturing in the United States is growing, because some people are recognizing that Chinese manufacturing will greatly decline over the next years and decades.
Manufacturing in the U.S. will never return to say 1950s levels though. After China, it will be India making the cheap products. You have to understand that economies of scale make it impossible to produce most things domestically without drastically increasing prices.
that is so much bs, as long as american cos can send a prototype over there they will steal the ideas and copy them right alongside the ones they produce for those cos. they have very ggod manufacturing, the only chance we have is to stop letting them into our grad programs and out think them.
Yes don't base what you can't control as going to happen have to go with the flow one day at a time. " don't count your chickens before they hatch". It will never add up.
I am with you Dave. However if using the bible as reference; God cannot change, override, or alter free will. Hence praying for decisions is not a viable prayer.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back. most importantly consider financial advisory for informed buying and selling decisions.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
We’ve talked a lot about how the 2024 election might impact the markets. Has anyone made significant gains or losses in previous election years?
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Oh, for sure. In 2016, I took a hit with tech stocks-lost about $70k in just a few weeks because I wasn’t prepared for the regulations that followed the election. But I did make around $85k by shifting into defense stocks, which surged after the election. It was a rollercoaster, but I didn’t have the right strategy going in. things got better when i employed the services of a CFA
Yeah, I've noticed a big dip in my portfolio too. It's been a rollercoaster ride these past few months. Please who is the advisor that guides you
Finding financial advisors like ‘Celia Kathleen Martel’ who can assist you would be a creative option. There will be difficult times ahead, and prudent money management will be essential to navigating them.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I disagree that it won’t effect us much. But I agree we can’t worry about it. Pray, vote, and continue to make wise decisions.
Taxing unrealized gains even for the wealthy would probably drive them out of the market
I love how Dave puts it. He obviously favors one party over the other, but he will not get brain wash to believe that one party will come in as his knight in shining armor to save him. Like he said, he has made money and done well regardless of which party is in the white house. I think more people need to think that way. As Dave said: "Do it in spite of them, not because of them" with finding success regardless of who is president.
Balanced take. Anyone who has been listening to Dave since the 1990’s should know his stance on working your plan and minding your own business despite who’s in office.
This election is so different!! Kamala is a Marxist!! She wants equity and that's the thing that's going to collapse our financial worlds.
Dave has definitely given basically the same advice on politics for decades. I do think its somewhat privileged when youre a white male millionaire saying you'll prosper under any president.
If you’re following Ramsey advice & investing at least 15% of your income in quality mutual funds (ie S&P 500) you have had a VERY profitable year! The returns have been amazing roughly 22%.
The market's direction can swiftly change, with indexes frequently transitioning from a bear market to a bull market. It's tricky during election years. I recently inherited a lump sum and want to invest it wisely. Any tips or strategies to take advantage of this potential upswing?
imho, the average person finds it difficult outperforming the market on a day-to-day basis. In actuality, most people who have the necessary abilities are advisors with experience since the '08 crash and beyond
Agreed, I once downplayed the role of financial experts until suffering 40% portfolio loss amid 2020 lockdown, at once I consulted a pro and my portfolio was revamped thankfully. As of today, I'm just about 10% shy of my $1m goal after 100s of thousands invested.
bravo! mind sharing details of your advisor please? my job doesn't permit me the time to analyze stocks myself
Monica Shawn Marti is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for the info. I searched for her full name and found her website right away. I reviewed her credentials and did my research before reaching out to her.
As the upcoming election approaches, I see potential economic benefits on the horizon. With $545K from my home sale, I'm weighing investment options. Will the election spark market growth, making now an ideal time to buy into stocks, or should I wait for the dust to settle?
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skills and knowledge
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I once told someone that there is no such thing as a business-friendly environment. No matter the economic landscape, some businesses will thrive, and others will fail. The businesses that endure for decades are those that adapt.
This green push is killing manufacturing
@@bondobilly9369 It is just not the green push. It is also mismanagement, the higher cost of American labor versus cheap labor and some American businesses that cannot adapt to change.
@jeffholloway7974 letting China into the wto killed a lot of jobs, nafta was the final nail in thr coffin for manufacturing in America.
@@bondobilly9369false
Only 52 US companies that were in the Fortune 500 since 1955 remains today. It isn't just about adapting, it is about strategy as well. If you can't adapt to change fast enough (because your company became too big and too bureaucratic, then you can buy out the competition via merger and acquisition (that's what Jack Welch of GE did back in his time as CEO, he was buying up 300 companies in a year for GE). If you cannot buy the competition out due to anti-trust laws, you can operate overseas for higher margins by charging higher prices due to less saturated markets, which then allows you to operate at cost domestically (your international profits allow you to subsidize your losses in the US and force your competition to bleed cash trying to stay low cost with you). Many ways to use strategy and not just rely on adapting (which favors smaller and more nimble companies).
I could not hear his question as I was entranced by the energy of that glorious beard. I must go now and tell the tale of the legend.
AMEN to the low tax, avoid: high taxes, socialism & Marksist!! MAGA🇺🇸2024
Dave Ramsey. You speak FACTS!
The upcoming election is expected to significantly impact the economy, with potential increases in government spending and easing of central banking policies. Key issues like immigration, abortion, and economic policy may influence the outcome, affecting sectors like consumer spending, housing, and global trade. The election's impact will depend on various factors, including the outcome, policy changes, and global events.
I've been working with a financial advisor to prepare my portfolio. He thinks a Democratic win would boost healthcare and renewable energy stocks, while a Republican victory would favor finance and energy sectors.
That makes sense. I've got a significant portion of my 401k invested in healthcare. Do you think it's wise to rebalance before the election?
My advisor recommends diversifying across sectors and asset classes. We're positioning my portfolio for a potential 200% surge in tech stocks, regardless of the outcome.
200% surge? That's incredible! What specific stocks or funds is your advisor recommending?
We're looking at ETFs like ARKK and TAN, which track innovative and renewable energy companies. He's also suggesting dividend-paying stocks like Johnson & Johnson and Procter & Gamble for stability.
This was spot on. My savings and investments increased but only because i paid off my car. Moved in with roommates and did what I had to do to spend less. Such is life.
well, the reality is that companies think like this each year when they go through business planning. They review their assets for under performers and sell those off, use the proceeds to either pay down debt or reinvest in plant, equipment or talent, look for ways to streamline and become more efficient in order to generate more value for shareholders. Why would individuals operate differently.
One thing for certain is if you spend more than you take in it leads to major problems and when people stop receiving free money there will be major problems. Better be prepared
Another reason why a Trump administration is scary.
As a pastor I appreciate a great honest answer Dave. I know it is so tempting for people nowadays to delve into all sorts of partisan comments that are highly exaggerated. No need for people doing all sorts of fear mongering as there are plenty people doing that. Thanks again, Dave!
for what wimping out?
Milk toast. No doubt a pastor in the church of Laodicea.
@@mattevans9140 Still waiting for an actual response.
@@ryankuehl7466 I never knew you.
@@mattevans9140 I can only assume you've sacrificed your Christian witness for the sake of political pursuits. Like trading your birthright for a stew. That is stew-pid.
As always, you're right on the money Mr. Ramsey.
Thank you for all you do
Kevin O’Leary would like a word.
Very balanced. The market and politics are two separate forces. They do intersect, but for the most part the market does its thing regardless of who is in charge.
The “market” was created by a bunch of people so the market doesn’t really do “its thing”.
Hmmm.
Have you ever done a study of what happens to the market under communism?
@@MWebb-de9pq Neither of the major party candidates are communists.
I say bs, the current admin did everthing it could to ruin the lives of the real working class people.
Powerful. Wisdom. Great answer and philosophy. 😊
The market's direction can swiftly change, with indexes frequently transitioning from a bear market to a bull market precisely when the news is most negative and investor sentiment reaches its lowest point. It's tricky during election years.
the average person finds it difficult outperforming the market on a day-to-day basis. In actuality, most people who have the necessary abilities are advisors with experience since the '08 crash and beyond
Agreed, I once downplayed the role of financial experts until suffering 40% portfolio loss amid 2020 lockdown, at once I consulted a pro and my portfolio was revamped thankfully. As of today, I'm just about 10% shy of my $1m goal after 100s of thousands invested.
bravo! mind sharing details of your advisor please? my job doesn't permit me the time to analyze stocks myself
‘’Aileen Gertrude Tippy” is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
such an eye-opener! cant wait to experience financial advisory at first hand... curiously inputted Aileen Gertrude Tippy” on the web and at once spotted her consulting page, she seems highly professional from her resumé
aistockadvisor AI fixes this (AI Stock Advisor). Dave Ramsey discusses election's economic impact.
Thank you for your wise opinion, Dave. Most voters are not small business owners tho. So, working for a company, small or large, is the concern of the wage earner. A good Economy is what will matter to the rest of us. Which candidate is smart enough to bring it. I really don't care if I don't like the person, I just want to keep more of my money.
Well taxing unrealized capital gains will most assuredly have an effect I can promise that.
Giving our taxes to illegal immigrants is ridiculous. Giving cash to first time homeowners won’t help. They won’t be able to make the mortgage payments.
Amen
And the end game the government is hurting the people it is trying to help.
Disagree. I'm voting blue 💙💙💙💙🎉🎉🎉🎉
@kbanghart illegals flooding the country, inflation thru the roof. Gas etc yep typical liberal
@deelehey2827 tell a liberal lolol
Most sensible advise I’ve heard. Thanks
Either way I’m currently preparing a quarter acre of yard to grow 80% of my families produce and made friends with local farmers and ranchers so I will be getting a few hogs and a cow this Christmas so my family can eat without going bankrupt.
What state? Or country?
If you ca6n eat without going bankrupt you have a problem
Best comment I have heard!
@@Nisa-gm5wg thanks
I'm just wondering because I might want to do the same
Live off the land, it works until you get sick and realize you don't have insurance and can't barter 4 months worth of bacon with a doctor for cancer treatment.
You're rich so you don't feel the pain.
absoluty just like the weatherman who gets paid no matter what, for me talk is cheap.
You don’t have to feel pain to recognize it. Most people who have a brain can recognize what is happening to our government and economy.
Yet, Dave Ramsey has helped many people get out of poverty. "If you make $30k per year you're one of the top 1% world wide". (paraphrased)
I don’t get any money from the government either Dave, but under the current regime , I have a lot less money. Im not a multi millionaire like you Dave, but my savings has gone down. Twice as much for gas and food and electric alone has hurt us. We’ll be fine, but I can’t save and invest like I could before.
Hear you so I remember reagan saying are you better off, I am but not a president doing but it's obvious who had a better economy and the other one didn't do squat to improve so God bless you in this fall
You must adapt better. I am not a democrat, but my savings and investments have improved under Biden.
@@jeffholloway7974 its called inflation bubba. We r all worth more technically after the last 4 years of shit
I love how people pretend gasoline hasn’t gone up and down in price forever, regardless of who is in the White House.
It’s also interesting how folks who act like the price affects their vote seem to pay zero attention to the fact that the price has been going down for about year.
@@jeffholloway7974😵💫😵💫
We have to have a non-throw away culture.This would bring back, and benefit the manufacturing of quality products, again in the U.S..
He speaks the truth. My business is finally getting better. Don’t wait for the election to get something done.
I like your opinion on all of this; very wise!
Finally this is addressed. We can’t keep baby steps in this economy
Dave Ramsey said that politicians don't matter in early 2020. His ignorance was astonishing to me. Certainly, personal financial behavior is important. However, when politicians make the economy horrible then the baby steps are significantly difficult to do.
Right on Dave .You give good honest answers..
a ibm manager was once mentoring me on telling the customer the truth about their ibm equipment, he said if you cant tell the truth just dont say anything. kinda like dave here.
Excellent advice for ALL.of us! Yes we should pray for our leaders! Absolutely! GID HAS THIS! NOT US
Thanks for spreading some truth Dave.
Pray for our leaders and our country. To God be the Glory!!🙏🏻
God expects the human to use his intelligence to weed out the crooks and carpetbaggers in their midst.
Elections do have consequences people. We ha e seen that the past 4 years
Yes. We have a president who's actually presidential and not trying to create outrage daily.
@@user-qm6re1lv8g Are you paying attention?
"What happens in your house is way more important than what happens in The White House; as a future indicator of your success." - PREACH!
I am very concerned about the tax on unrealized income.
My understanding is that if that were to pass, it is only going to affect people with over 100 million of assets. So if you have over 100 million, congratulations! If not, you have nothing to worry about.
@@nathanielhenkel9178even people with 100 million shouldn’t be taxed at 45%. NO ONE SHOULD
@@nathanielhenkel9178 Income tax started at 2% and now it's at 40%. And they spent all that money on foreign wars.
You can't give these people 1 inch.
@@nathanielhenkel9178what are you talking about ? What do you think happens to the stock market when all the rich people have to sell 25% of profits per year just to pay taxes ? Bye bye retirement income
@@Mikefeher1313 If your plan is to invest rather than speculate it would be a bonanza as you were able to snap up cheap assets. With that said there's no way the donor class will let that pass and at the end of the day they have far more political power than either party.
He will do it!!
Why so skeptical
The American dream still possible. You only need to be smart with your income.
if you have any left over to save,
You told us that much wasn’t going to change with this past election either but I don’t know about anyone else but these grocery store prices ARE RIDICULOUS…. So yeah it did change my life … and I already had a home but I bet people wish they were under the trump administration trying to buy a home. These interest rates are insane.
Not really. You're just fear mongering.
True, Trump's failure to curb the pandemic and inflation hurt a lot of people.
@@kbanghartThe Democratic induced pandemic that killed too many innocent people around the world!
actually the govt kept my home interest rates about 6% my whole working carreer, it was a normal thing as this will be to you now. prepare to be screwed over this pretty much forever in your working carreer.
@@kbanghart no fauchi and the drug makers and china screwed you they had to destroy trump to get control and bring us to this time in history.
He did do that first term and started coming back
This time it's not about the economy for me, I'll be fine. One party is evil.
Yes! Far bigger issues!!
Totally right. The Republicans are evil.
It’s both
Please explain?
I don't think either party is fundamentally evil, but there are evil people in both parties.
Amen!!! Thank you!!
I agree that you have control of your money regardless of who is in office. I don't agree that it can't hurt you considerably. I can't tell you how much more money my husband and I would have saved up if these gas, grocery and rent prices haven't shot up well over 20% in the last 3+ years. Arguably in the 4 digits. So ya, it won't ruin your life, but it will hurt like a bitch. People like Ramsey tend to forget what it's like for people like us near the bottom trying to clean up our messes and get to the top responsibly, only to constantly be getting kicked down every time these prices keep skyrocketing. Must be nice being in a spot you can hardly feel the change and tell everyone else they're over exaggerating.
Well said..
Beans and rice
What does the President have to do with global inflation? Caused by extremely low prices due to covid?
@@joshuawilliams6153your douche boy Biden messed with oil / fuel / pipelines and exasperated things ten fold
Biden Harris -worst administration in history
when you can do consulting or other work from home it just shows how dumb employers are. who works a full time job while surfing porn or shopping from a office other than govt employees?
People also need to focus on their own state laws instead of the federal government. Alot of people I know complain about certain laws and regulations, thinking the president can fix or change it. I tell them it's a state law, not federal. Then they get mad at me and tell me I don't know what I'm talking about. 🙄
This is a great perspective
You were able to do what you did bc of the policies/systems in place at whatever time you prospered more or less, not just what YOU did. Wait till they start taxing unrealized gains & see how well you/others/we do!
"They" also promised student loan forgiveness. "The other guy" promised constructing a fortified wall that Mexico will pay for. None of it happened, now you think they will really tax unrealized gains? Do you know how much unrealized gains our friends in Washington have in their networth? Pick any senator, any house of rep, any White House Cabinent member, any Supreme Court judge. They would never do it because they are all worth bank and their money is tied up in investments. Also, they would piss off their supporters with money, who will then pull campaign financing. Don't believe what both sides tell you, when they open their mouths, they lie.
Unless the government reduces spending, your taxes are not really lowered, they are postponed. Reducing taxes while running up deficits is like making the minimum credit card payment.
This is very sound advice. Biblical. I pray we have an end to these outrageous gas and grocery prices! Praying to be debt free! Thanks for giving good advice
keep praying but it wont hurt to actually vote.
Our daily interest on the National Debt is growing by over 2.5 billion a day. Do you have any ideas to pay it down?
He’s done everything he said he would do
Good stance...❤
Jobs are not coming back until labor costs here in US go down to the level that they become comparable to costs in foreign countries. Companies are still exporting jobs. If we are saying that AI will bring jobs back, question is how many???
Bringing manufacturing back to usa doesn't mean bringing back jobs, it means automation. That is the only way to compete with overseas workfoce.
I have 2 jobs. I am sick of some people blaming workers for the shortage of jobs. There are jobs. So many people, both workers and management, cannot adapt to change. For example, we do not need any more historians, but we need electricians. Also, executives that do not increase the values of their firms do not need to get huge bonuses. Dang, I am rambling.
@@mushieslushie Yes, that is the way companies can compete.
how can labor costs go down and those workers afford the increased cost of living, too much education, not enough experience here.
you will never compete with chinese or india labor costs and have a decent standard of living. 60 years ago they said that the chinese could stand 100,000 abreast and walk into the sea and they would never run out of people.
Very well said 👏🏾👏🏾👏🏾
I did it my way!
Do you vote Dave ? You said neither one of those “goobers” effects your wallet. But I think you don’t want to say anything positive or negative of either one because you don’t want to lose any viewers. But I’ll say this, one party is against God and all that God has created. Think about that.
Still waiting for that trickle down......
It’s better to live with the belief that no one owes you anything.
And if you work in a factory or a building that you didn’t personally build ………… then you’ve got some of that “trickle down“
Reagan ❤️ 🇺🇸
Trickle down from the government, or big business?
Trickle down works, Taxing Companies above 25% does NOT. For the simple reason as stated, companies that have money overseas cannot INVEST BACK in America.. why, because overseas governments make better deals
@@Alanstrainworld no because our tax law says if it is made overseas it will be taxed if it is invested here
But for a middle-class individual (or family), the government under certain leaders TOTALLY affects our finances. Dave dose not run a small business anymore, he has a big business... good for him, and I love him and his general advice. However, he's now out of touch with middle-class families and small business owners in such places like California, where the election has dire ramifications.
99.9% of businesses are considered small American businesses, there are in fact 33 million small businesses that employ 61.7 million Americans, totaling 46.4% of private sector employees. The ones that operate near margin will be affected and forced to shut down, leaving room for competition to get better and new businesses that are stronger to join/start-up. How many times have you walked into a restaurant and wondered why the food & service is not great, but they still are operating? Well, maybe tougher environments will shut down the poor performers and make better competition.
@@alanwong8307 spoken like a true cali man, so full of college he probably never even started a lemonade stand.
some businesses can hang on with poor service because of new customers for awhile,
@@laura-k1o3mreal businesses don’t “hang around for a while”, they compete.
I vote Dave for Secretary of treasury to stop the national debt insanity
That's funny, even if he was in you can't do anything about the debt now, it's too high. If you or the American people wanted to do something about the national debt. You should have stopped voting the two party system or stop voting overall.
Heck, I think someone with any common sense could be the Secretary of treasury. Anyone who can balance their own checkbook
@@cjhoward409Sorry but I don't believe you
Clinton (D) -- gave the federal government a budget surplus
Bush (R) -- lost the surplus and put us in a deficit
Obama (D) -- reduced the deficit
Trump (R) -- increased the deficit
Biden (D) -- reduced the deficit
In recent history, Democrats reduce the budget deficit and Republicans increase the budget deficit. Just putting it out there for those who think the federal budget and federal debt is important.
@@cjhoward409 You realize that the US Treasury have a very complex job, not just balancing a checkbook, right? One aspect of the Treasury is to protect national security from abuse by foreign and domestic actors. You have other countries wanting to create their own digital currency to undermine the US dollar as the world's reserve currency. People working in the US Treasury have to think strategically to protect American's best interest. It's not just balancing a checkbook and issuing bonds to raise funds.
Also Dave, I hate to break it to you, but your business is primarily driven by negative economic factors namely debt. The more that politicians hurt people by driving them into taking out debt for either literal needs or luxuries, the more your business prospers.
Politicians, Econists and weathermen.
E-con-nom-ists.
There is one party who is trying to meddle in your household remotely from the white house.
Keep them out.
I'm not an economic genius but as a middle class citizen in Southern California, the post- Obama, pre-pandemic Trump years were the best years for us and anyone around us in at least a decade or more.. Everything had become more affordable and we had extra money to spend or save. The world was more peaceful and we actually felt secure and comfortable. Then the pandemic hit, and chaos from BLM and the nuts destroyed everything that Trump had built. And the other side used that chaos to blame Trump and then proceeded to cheat in the election and he lost. That is how it all went down. Here we are today and we have a chance to restore what we all once had. VOTE TRUMP!
Agree with everything you said
From what I’ve read the economy does the best when each party controls one house of Congress. We, the American people, have historically succeeded the most when Congress has been in a state of gridlock and hasn’t done anything. When either party is in control and is able to push their agenda through American citizens suffer.
you read too much cosmopolitian, msnbc, abc, cnn and fox.
VERY WEIRD QUESTION:
Is it possible to bring back 80 percent of the manufacturing jobs? What would have happened if the jobs that were never shipped overseas? Would the US have been better off?
when the govt bribed the car mfg to build evs it took way fewer people to install batteries and motors that gas and diesel vehicles so they got rid of a bunch of skilled assemblers that now are or very good early retirement in their 50s
All of Trumps crap are made in China, like that maga hat and those stupid shoes. Are americans prepared to pay 3 times as much for clothes made in US, instead of Bangladesh, Vietnam and India?
You can just buy a company in Canada to bring in your business parts from China and avoid the Tarrifs. That’s what my company did. Sales are slow/low and yet still making money, but the profit bonus will be lower.
A lot of Gobley goop
I think people don’t realize that Dave is in the business of entertainment. This is another example that he really doesn’t know what he talks about. But as long as you believe what he says, then he will still be in business.
It’s hard to take someone who has filed bankruptcy three times seriously. Yes, he’s in the entertainment business.
He's a bit too gruff & foul language for me. Plus not to have a CC is going WAY BEYOND rediculous in my opinion.
Thankfully pay my 2 off every month (1 business 1 personal)
very true, ole dave sells his opinion.
dave made his money talking.
“What happens in your house is way more important than what happens in the White House” - Dave Ramsey
Pray for our country and Go vote!!
What happens in your house is way more important than what happens in the White House” - Dave Ramsey
D.R. didn't think of that. That expression has been around for decades.
So you don’t buy groceries you don’t pay for gas and you don’t realize that the cost-of-living is double what it was four years ago
Dave has money so no he doesn’t care about the cost
Its the same in Europe. The war in Ukraine effects us all.
"In spite of them, NOT because of them."
Excellent video David.
Always love Dave's takes. His advice is so good.
Well, the stock market does tend to go up from bad leadership. Mainly due to the lack of value in the dollar. We’re doing real well farming. Some of what we produce is directly to consumers, and what isn’t is still directly marketed, not as tied to the commodities market. We have a lot invested in land, but don’t buy in all the inputs like conventional operations. We’re going to be fine, no matter what happens.
Look at the last 10 recessions and tell me which part was in office😂
Chase Oliver of the Libertarian Party!!
Dave is correct. However, depending on who is elected to the White House and to Congress, then it may be wise to make financial moves in December, to mitigate possible substantial tax punishment once the new Congress and President ratchet up taxes the next year or two.
Is it true that the previous president’s policies take 4 years to come into affect in the business world? (For example, 2020-2024 was really Trump’s economy rather than Biden, etc)
Washington DC is a closed party and your not invited. But you are paying for said party. Enjoy…
*you’re 😂
The bonus depreciation was a key part of the’17 tax reform, it was 100%, now it’s 60% immediate depreciation of any tangible asset with a 20 year life. It’s in the code available to all businesses. It makes Kamala’s $50k credit a moot point. Startups rarely make a profit, it took Amazon 9 years to turn a profit
I agree. Kamala allowing 50k deduction for start-up expenses (rather than 5K and amortizing the remaining over 15 years) won't do anything for start-ups. It politically might sound good, but it won't actually help anyone in a meaningful way.
Well said and I like it ................
Oh, Dave I love you! KaMALA! That's great! You don't even realize that you just said something considered offensive! 😂
both parties keep spending beyond our means & keep getting us into further debt
Yep.
He answered like politicians
Any talk of bring back manufacturing to America needs to include continued inflation. Trading Chinese wages for American wages is very inflationary. Maybe using Mexico to make products would be a somewhat cheaper solution.
its been done that way for thirty years already
The general concept that it really doesn't matter who is president, your life is not going to drastically change. However, I have several thoughts based on what was said in this video:
1. For manufacturers, Trump's proposed tariffs should be a major concern. Unless your supply chain is 100% in the United States, the tariffs will make things more expensive for you and your customers. Tariffs, if used correctly, can be beneficial to our country. But we must be very careful about them, because in the 1930's we used tariffs to try to protect American manufacturing and jobs, but all it did was cause a trade war and deepened the depression.
2. I want to comment on social programs and the tax environment. I have thought deeply about this the last 15 years that began with the passing of the ACA. My general observation is economic health of the consumer is key to economic growth. This was reinforced by the actions we took during COVID, where the economy did not completely collapse despite the shut downs, and this happened because of the generous unemployment benefits in the US and the generous subsidies to keep people employed in Europe and Canada. Our biggest mistake during that time was probably allowing all the layoffs that impacted supply chain. This event I think clearly demonstrates the benefits of a strong social safety net.
We need to keep people employed, keep people solvent, keep viable small businesses solvent, understand and strengthen supply chain, and essentially make it easy for people to spend money and make money. So, I think it is worth it to have policies to provide universal healthcare, housing affordability measures, better city planning, universal child care, universal education, generous unemployment benefits, generous retirement pensions, and the like because even though these might raise taxes on businesses and individuals, it will keep capital flowing and the economy growing. We have been doing fine under the feast and famine ways of the economy, but the well to do often do the best under this while a majority do poorly. If we even out these cycles, it will give everyone a chance to prosper, and that will strengthen our economy and I believe it will generate more growth.
3. As an add-on, I also believe in strong investments by the government to develop advanced industry in the US. Innovation is our competitive advantage and it benefits us to be first movers in new technologies that can make a big impact on our lives. I think moving forward, if we fail to do this, China and Europe will eventually surpass us. I already see some of this related to the lithium ion battery industry despite the IRA act. Many of the companies building manufacturing here are foreign behemoths in competition with American start-ups. We are already at a disadvantage, but hopefully we pull through and can compete.
The trouble with developing a strong industrial sector is that limiting pollution, keeping your workers safe, and paying them a decent wage is a lot more expensive than doing none of those things, and paying lower taxes besides, and there aren't a lot of ways to hold foreign manufactories to the same behavioral standards we apply to domestic ones. Tariffs are one of them, but they're not all that precise.
Unfortunately those “generous subsidies” were given by printing money and devaluing the currency and were a large part of why we had such bad inflation. there are always unintended consequences to government intervention in the economy
@@tim6995 You can say that about any spending by anyone who borrows money. When people, businesses, or government borrow money, it expands the money supply. If the value of the goods and services available does not increase in tandem with money supply, that is when you get inflation or deflation.
The government can spend lots of money and borrow it if it wants. As long as the value created with that spending keeps pace, then inflation stays in check. In the case of the unemployment benefits, even if the government borrowed 100% of the funds to pay for it, value in the economy was maintained until the demand outstripped the supply. The reason for that was a lot of our supply chain runs through China, which didn't lift its COVID restrictions until about 2023 and cramped the supply of goods. Thus, we had a normal amount of money to spend and not enough goods. This wasn't caused by an over supply of money.
I am not an expert in monetary policy and economics, but from what I do understand, the Fed has tight control over the money supply. It raised rates to deal with increased inflation and if the inflation rates drop too much, they will lower rates. This is all to encourage or discourage borrowing. When the government intervenes in the economy by giving unemployment or bailouts, it is usually because they are trying to increase borrowing to trigger inflation and growth.
My point specifically on generous unemployment benefits is the realization that when the markets show signs of strain, it is best to keep people employed or capable of spending money if an employer must lay off workers. If people stop spending, people and companies stop borrowing and that triggers a recession. However, if people never stop spending, then perhaps the strain is contained to the business community, and when that gets resolved, everything is still in place to continue growing, minimizing the impact of a recession on Main Street and having a lighter recession on Wall Street. This is all an effort to protect Main Street.
@@michaellazar4855 let me ask you, what happens to individuals if they continually borrow more and more money, only paying the interest, without ever paying back the principal? What you are talking about is modern monetary theory. The theory is that you can infinitely borrow or print money and just inflate or tax your way out of it. The problem is that it’s just a theory and has never been tried on a large scale until now. Generally, if it sounds to good to be true it usually is. And a real life infinite money glitch sounds way too good to be true
A lot of the ideas you put forth, though, are predicated on the fact that the government is spending money on things like universal healthcare. The rub there is that the government does have any money that they didn't take from someone else. I'd like to know the specifics of what you propose. Ideologies and concepts don't change anything. Actions do. So what specific actions are you recommending? Who, for example, is going to pay for universal healthcare?
Good video
You forgot "hitters" in baseball and they get worse every year and paid more. For those that rely on the government for everything it will matter who is elected. For those that rely on themselves, not so much.
you have that backwards, those that can will produce but at a much lower margin along with argueing with the taxman, those are the ones that need to wake up.
Dave’s numbers are way down after the show length change. I think it’s silly and we need to remember the heart of the lesson and not get hung up on silly things like show length.
Manufacturing in the United States is growing, because some people are recognizing that Chinese manufacturing will greatly decline over the next years and decades.
Manufacturing in the U.S. will never return to say 1950s levels though. After China, it will be India making the cheap products. You have to understand that economies of scale make it impossible to produce most things domestically without drastically increasing prices.
that is so much bs, as long as american cos can send a prototype over there they will steal the ideas and copy them right alongside the ones they produce for those cos. they have very ggod manufacturing, the only chance we have is to stop letting them into our grad programs and out think them.
I love Dave’s prospective!
Yes don't base what you can't control as going to happen have to go with the flow one day at a time. " don't count your chickens before they hatch". It will never add up.
I am with you Dave. However if using the bible as reference; God cannot change, override, or alter free will. Hence praying for decisions is not a viable prayer.
Is it too much to ask for our presidential and legislative branches to just leave us be and stop experimenting with its people?
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back. most importantly consider financial advisory for informed buying and selling decisions.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I have never had one politician put food on my table.