WHY is the Media NOT Talking About This?! - Dave Ramsey Rant

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  • Опубліковано 5 жов 2024
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КОМЕНТАРІ • 1,3 тис.

  • @TheRamseyShow
    @TheRamseyShow  4 роки тому +43

    Get life-changing financial advice anytime, anywhere. Subscribe today: ua-cam.com/users/TheDaveRamseyShow

    • @stevenm732
      @stevenm732 4 роки тому +6

      It did not fully recover in 57 days Dave. Multiple sectors are still depressed in the stock market the gains made have been from tech stocks, a little over half the gains were in tech. Permanent job loss has been steadily ticking up. 60% of small business closures are reporting as permanent. Lastly on March 23. The treasury committed to buying unlimited sums of “junk bonds” . The cares also bailed out the asset prices to the top 500 publicly traded companies in America. Calling this the “American economy” is absurd. Some of the top 500 publicly traded companies are doing exceptionally well to the point where its boosting the overall number. But the “real economy” is not doing so hot. Dig into the cross tabs man. All that said I agree people shouldn’t not have sold their retirements, holding is the way to go. But I’d like you to acknowledge that it was government intervention that stabilized asset prices not economic activity.

    • @eastlight313
      @eastlight313 4 роки тому +2

      @@stevenm732 dave's heart is in the right place, but I agree with u, sometimes he's out of touch

    • @RealHomeRecording
      @RealHomeRecording 4 роки тому +2

      @@eastlight313 too bad he doesn't read his comment section right? He could learn a thing or two from his viewers.

    • @littlebob1261
      @littlebob1261 4 роки тому +2

      When you have a president who calls women dogs and suggests to inject bleach because it works great on your counter, it's hard to cover anything else. Make sense?

    • @stevendedeian7774
      @stevendedeian7774 4 роки тому

      financial road kill....lol...like that...lol

  • @brandoncarroll9155
    @brandoncarroll9155 4 роки тому +300

    “Malcolm X said "The media's the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent.” Media has the power to influence minds, ideas, behaviors, and attitudes of the masses.”
    - Malcolm X

    • @falcon127
      @falcon127 4 роки тому +6

      I AM 65 AND I REMEMBER MALCOLM-X, ANGELA DAVIS, THE BLACK PANTHERS!

    • @gemeinschaftsgeful
      @gemeinschaftsgeful 3 роки тому +8

      Who knew better about the power of the media than the Nazis and the propaganda minister Goebbels?

    • @CIyphord
      @CIyphord 3 роки тому +3

      He quoted himself?

    • @dracodragon5291
      @dracodragon5291 3 роки тому +2

      @@CIyphord and that's why we have grammar 😂

    • @Pre0115
      @Pre0115 3 роки тому

      Very true!!

  • @justinjohnson623
    @justinjohnson623 4 роки тому +641

    The U.S needs to take the baby steps

    • @twbmatrix9209
      @twbmatrix9209 4 роки тому +88

      First, save $1,000, then pay off all debts... $130 trillion😂

    • @Nostradevus1
      @Nostradevus1 4 роки тому +34

      @@twbmatrix9209 Deliver pizzas if you have to!

    • @cheekso786
      @cheekso786 4 роки тому +21

      Get on beans and rice!

    • @lj5781
      @lj5781 4 роки тому +3

      @@twbmatrix9209 😂😂😂

    • @Nostradevus1
      @Nostradevus1 4 роки тому +36

      Roy_Thousand Clearly you haven’t met our government. They will put the public on beans and rice so they can keep having state sponsored caviar night. The only thing Congress ever vote unanimously on is giving themselves a raise...

  • @BrotherhoodWorkshop
    @BrotherhoodWorkshop 4 роки тому +494

    Thanks for being a voice of calm through all this. It kept me from panicking and making some bad choices.

    • @Joe-jc5ol
      @Joe-jc5ol 4 роки тому +3

      He encouraged me to go all in in March...(I was half in before, it was a nice profit but did not make me rich)

    • @jason_v12345
      @jason_v12345 4 роки тому +5

      He doesn't even have his facts straight. The stock market didn't crash in "March/April." It crashed in February/March. And the shutdowns didn't cause it, like he claims. The shutdowns are what started in March/April... _after_ the crash.

    • @mrskrobs
      @mrskrobs 4 роки тому +1

      Yes! Same here!

    • @BrotherhoodWorkshop
      @BrotherhoodWorkshop 4 роки тому +10

      @@jason_v12345 None of that undermines his point: it went down, it came back, it was good not to cash in.

    • @Sheryl777
      @Sheryl777 4 роки тому +3

      @@BrotherhoodWorkshop exactly! Funny how the main point of what Dave was saying can be totally overlooked like that.

  • @ashleygutierrez8305
    @ashleygutierrez8305 4 роки тому +13

    It’s so good to have a papa Ramsey to guide my family in wisdom. I really thank you ☺️

  • @mlgreen111
    @mlgreen111 3 роки тому +13

    "There will always be something else" is a phrase that is reassuring and terrifying at the same time

  • @lesellen1994
    @lesellen1994 3 роки тому +6

    Thank God we followed your advice, and have followed your plan for years. I’ll be honest, I was ready to take everything out, but my husband said “stocks are on sale!” And we held steady. Loved the line “the only people who get hurt on a roller coaster are the ones who jump off”

    • @bibleloreyt
      @bibleloreyt Рік тому +1

      adding this to my list of favorite dave ramsey quotes lol

  • @jdb2002
    @jdb2002 4 роки тому +380

    My Roth dove $7000 during the month of March. Now I have that $7000 back, and it's even $4000 higher than that.

    • @andytaylor1588
      @andytaylor1588 4 роки тому +23

      When stocks are on sale, I buy more. I ask myself a question: "Am I fearful?" If the answer is yes, then I can only allow myself to buy, and never to sell.

    • @herbiehusker1889
      @herbiehusker1889 4 роки тому +17

      Mine dipped by a lot too, but now it's 10% higher than it was before. It's amazing what the power of inflation can do when the government dumps trillions into the economy.

    • @ptwo7100
      @ptwo7100 4 роки тому +5

      Yeah I doubled the amount of my 401k contributions when the market dropped. As things go back up it is with a big smile.

    • @sergiohernandez-fz2xx
      @sergiohernandez-fz2xx 4 роки тому +8

      It is sad that your financial future depends on wall street

    • @ptwo7100
      @ptwo7100 4 роки тому +1

      @@sergiohernandez-fz2xx This is true. If wall street collapses there goes the country.

  • @livingsimply6283
    @livingsimply6283 4 роки тому +7

    My husband and I climbed out of debt during the coronavirus while my husband was laid off. Thank you Dave Ramsey for giving us the tools to do that!

  • @9liveslisa
    @9liveslisa 4 роки тому +172

    2020 is definitely the worst year I have ever experienced and I'm in my 60's. But this too shall pass.

    • @TrishDigginsDesign
      @TrishDigginsDesign 4 роки тому +13

      Like a kidney stone

    • @jay221982
      @jay221982 4 роки тому +10

      Either this shall pass or we shall pass. Now if you're sure of where to, there's no need to fear.

    • @DEMediaDrive
      @DEMediaDrive 4 роки тому +4

      Still plenty of time left in the year for it to end up being the best years ever. I'm optimistic.

    • @blackworldtraveler3711
      @blackworldtraveler3711 4 роки тому +1

      Elizabeth Page
      Great year for me..
      You have no emergency fund? In debt? Living beyond means?

    • @regencylass1183
      @regencylass1183 4 роки тому +1

      @@blackworldtraveler3711 For us, too! 2❤2❤!

  • @jonesmichael1613
    @jonesmichael1613 4 роки тому +5

    Buy when the people are fearful and sell when the people are greedy! Thats has really helped me in the market.

    • @lillianoliver9419
      @lillianoliver9419 4 роки тому

      jones michael you must a good Warren Buffets investor! ❤️📈

    • @barbaramark6994
      @barbaramark6994 4 роки тому

      What do you trade? I am beginner and really need a mentor

    • @jonesmichael1613
      @jonesmichael1613 4 роки тому

      I trade on forex, stock and recently crypto mining .

    • @michaelbob7500
      @michaelbob7500 4 роки тому

      Can you mentor me please

    • @jonesmichael1613
      @jonesmichael1613 4 роки тому

      Michael bob I dont mentor investors, I have a large portfolio that requires more time and I have a broker Mr Coleman Johnson who manages my portfolio. He is really good with he’s strategies and signals are accurate.

  • @br3e5ds
    @br3e5ds 4 роки тому +4

    High school teacher/coach, here. When the school shutdowns hit due to the virus I grew accustomed to listening to the show daily. Now that I’m back to teaching and coaching every day, I don’t get to listen to the show much now. I can honestly say that I’ve missed it! Lots of daily inspiration happening on the airwaves. Thank you for all that you do.

  • @amgcook1081
    @amgcook1081 3 роки тому +8

    So true. The media is scaring us to death - literally.

  • @GeographyCzar
    @GeographyCzar 4 роки тому +46

    I increased my employee contribution for March, April, May and June. I’m old enough to know a buying opportunity when I see it. That wisdom was earned the hard way. Don’t ask me what I did in 2008. I was stupid. Really stupid. And I had to watch my wiser coworkers make bank off of cheap stocks while I clutched a few ounces of silver that slowly died in value.

  • @marcoseesmarcoshares
    @marcoseesmarcoshares 4 роки тому +15

    *All things come to an end. Especially the bad times. I pray that you keep your head up. Good times are ahead of us 🙏*

  • @armyretguy7365
    @armyretguy7365 4 роки тому +78

    Plot twist, 20 years ago Y2K ended the world, and 2020 isn’t real!

    • @AeternaQueen
      @AeternaQueen 4 роки тому +2

      Maybe we're all living in a saved copy version of our old world that's being maintained by AI. Cool movie idea.

    • @armyretguy7365
      @armyretguy7365 4 роки тому

      AeternaQueen matrix did it :P

    • @blackworldtraveler3711
      @blackworldtraveler3711 4 роки тому

      ArmyRetGuy
      New Year's Eve 1999 I was on a mountain top in New Zealand with a couple hundred or more people celebrating and waiting for first sunrise of 2000 after Three months of exploring the Cooks and Middle Earth....forgetting all about Y2K......I even took a 6 day sailing course in October before leaving for Oceania.
      Enjoy experiences of my life while everyone else back home with a bathtub full of water hugging their portable generators with their overpriced Y2K food packs many bought from those televangelists putting the fear into them .

    • @armyretguy7365
      @armyretguy7365 4 роки тому +2

      BlackWorldTraveler I was stationed in Hawaii at the time. I partied regardless but was on 20 minute recall incase people started freaking out and military assistance was needed. I mean, they have a National Guard... why bug us active guys?

  • @timlist4173
    @timlist4173 4 роки тому +1

    Dave, I did not cash out in March, In fact the beginning of April 2020, I Invested (I am retired), Life is good. Baby Step 7 and Loving It. Thank you so much for FPU.

  • @cybertrk
    @cybertrk 4 роки тому +71

    I had $70k in 2019... now in 2020 I have nearly $500k... thanks Tesla!

    • @pwells10
      @pwells10 4 роки тому +7

      That's fantastic return but you shouldn't have more than 10% in one company. This is your chance to diversify with bigger pockets.

    • @khoado123
      @khoado123 4 роки тому +3

      @@pwells10 well he's making huge profit with one stock so i dont see what's wrong here

    • @pwells10
      @pwells10 4 роки тому +6

      @@khoado123 say Elon Musk gets hit by a bus or the government incentives oil companies to rebound or a million other reasons TSLA could falter... Being all in one one company is gambling, being diversified is investing.

    • @khoado123
      @khoado123 4 роки тому

      Patrick Wells again hes been making huge profit and why would you even say stuff like that...

    • @pwells10
      @pwells10 4 роки тому +6

      @@khoado123 you'll learn this lesson the hard way one day, probably sooner than later. Debating me isn't going to help you.

  • @theAppleWizz
    @theAppleWizz 4 роки тому +24

    The Economy is not the stock market dude you should know this. There is so much cheap cash and just the simple fact that people are using margin like never before is inflation prices right now.

  • @ImmaSureWin
    @ImmaSureWin 4 роки тому +105

    Sad but negativity attracts viewers, listeners, clicks, etc.

    • @jeffhartman7000
      @jeffhartman7000 4 роки тому +8

      Even more than negativity, immediacy drives electronic media nowadays. Breaking news is more important than accurate, thorough, honest coverage.

    • @amosiren
      @amosiren 4 роки тому +4

      And with every click they get paid- so the headlines become even worse. Most of the time the headlines don't even match what's actually written in the articles!!!

    • @xxxxMonkeyGirlxxxx
      @xxxxMonkeyGirlxxxx 4 роки тому

      You are correct. That’s why all websites and videos have click bait titles now as well. It’s all about getting you to click or getting you to watch because the companies get advertising money every time you watch a video, read an article or watch something on TV. So the more addicted they can make you watch or read the more money they can make... this is why I’ve cut all TV, all news websites and social media out. UA-cam is the only social media tool I use and with this I can decide what I do or do not want to see or hear. I may not be up to date with everything going on in the U.S anymore but I’ll tell you one thing I sleep a lot better at night.

    • @iwant2pantsyou
      @iwant2pantsyou 4 роки тому +1

      “Doomscrolling” it’s a thing

    • @staceystrukel1917
      @staceystrukel1917 3 роки тому

      Just like this channel

  • @manasmahanand732
    @manasmahanand732 4 роки тому +16

    This is the thing I disagree with Dave.
    The stock market is not the economy. The stock market is what investors think what the future holds.
    The economy is still stagnant. The only services that are still functioning are essential services, Amazon, and internet companies. Rest are stagnant.
    The stock market only went up because investors invested in big companies that promised growth. Like Amazon, apple, Microsoft, Tesla, spacex, and all massive existing companies.
    Edit: and ofcourse don't pull your money out stupid. Only pull money out of startups that are bound to fail, if you have invested in them. But don't pull out of mutual funds. Mutual funds always comes up, single stocks are the only exception if you have invested a lot in a company that will die.

  • @stuartclubb4302
    @stuartclubb4302 4 роки тому +54

    "politicians are morons" seems to be a theme here.

    • @denisewenke8323
      @denisewenke8323 4 роки тому

      Not exactly news

    • @kwilliams544
      @kwilliams544 4 роки тому

      As it should be

    • @kingtutt61
      @kingtutt61 3 роки тому

      ...that’s an understatement. Were they always that way? Were they ever taught ethics? Too bad you can’t teach basic common sense?

  • @DrJack144
    @DrJack144 4 роки тому +28

    I doubt people who can’t afford food or rent care about the stock market tbh. The wealthiest 10% own 90+% of stocks. All the market recovery tells us is the wealthy get wealthier in dire times. We already knew that tbh. Despite all my investments, I’m sensitive to what people without investments are going through. Would suggest you put yourself in their shoes, too.

    • @alexc5369
      @alexc5369 4 роки тому

      They probs can't afford shoes though

    • @AmazingStoryDewd
      @AmazingStoryDewd 3 роки тому +1

      @Fila Kri As you should cling to personal responsibility. That's how you survive.

  • @KateHolloman
    @KateHolloman 4 роки тому +145

    Not for greed, not for fear. Amen!

    • @stevendedeian7774
      @stevendedeian7774 4 роки тому +1

      keeping priorities, at the front of the mindset.....yup......

    • @nicoleclayton2599
      @nicoleclayton2599 4 роки тому +2

      I don't like his downplaying of the virus or the deaths. Plus the stock market isnt the economy and the Fed pumped trillions into the market to keep its value. So hes not truthful with that statement either.
      Seek opportunities in the recession and try to make measured choices. But dont do what you accuse the media of doing

    • @DanielPronych
      @DanielPronych 4 роки тому

      @Kate Holloman Indeed! Also ...
      "This is my Father's World!
      And to my listening ears
      All nature sings and round me rings
      The music of the spheres..."
      I am glad my true wealth and investments are where neither moth nor rust destroy, nor thief steal *folded hands*

  • @elvedinsakinovic5203
    @elvedinsakinovic5203 3 роки тому +4

    Just because the stock market went up doesn’t mean the economy is back. The day 40 million unemployed was announced the Dow went up 1000 points because the fed literally announced 10 minutes later it will do anything to prop up the market. So clearly The stock market is not an indicator of the economy.

  • @masterlee4370
    @masterlee4370 4 роки тому +26

    I've have 3 IRA Accounts with 3 well known companies. I have always let it ride, even in 2001, 2008, and 2020. The first quarter this year I Iost $68,000. I let it ride. The second quarter I made $99,000. When the market goes down like it did, I do not open my quarterly statements. I wait until it goes back up. With that being said the second week of July when I had received all 3 second quarter statements I then opened the first quarter, saw how much I lost then I opened the second quarter saw how much I made which over the 6 months I netted $31,000. That's the way to do it, at least it works for me.

  • @technical19d34
    @technical19d34 4 роки тому +101

    I think a better question would be is why does Mr. Ramsay not recognize that this is a bubble that is being propped up by artificial liquidity and it will absolutely crash at some point

    • @tylerlafrenais4903
      @tylerlafrenais4903 4 роки тому +10

      I read he is paid by mutual fund companies. I read that somewhere so it could be false. It would be in his best interest for you to not sell your mutual fund. It’s not necessarily bad advice because the market does come back up.

    • @IceWhiteice22
      @IceWhiteice22 4 роки тому +6

      What goes up must come down

    • @JasonE406
      @JasonE406 4 роки тому +10

      I literally remember people saying this twenty years ago. And twenty years from now, people will still be saying it.

    • @guillermogutierrez-santana4446
      @guillermogutierrez-santana4446 4 роки тому +2

      Michele Nichols Acts Sings Reviews This isn’t a news publication this is a UA-cam video comments section.

    • @technical19d34
      @technical19d34 4 роки тому +14

      @@JasonE406 we didn't have the artificial liquidity 20 years ago. The fact is the *only* reason the markets aren't down 90% right now and staying right there is because the fed is literally creating money out of thin air and buying up corporate debt with it and buying all kinds of things and it's all against their charter and alot of it would be flat out illegal in a sane society. Ramsay seems to be ok with this, in spite of his constant moral bluster. Everyone has their price I guess.

  •  4 роки тому +41

    The stock market recovered, not the economy, you know the difference. You know well that 8% unemployment doesn't mean recovered.

    • @denisewenke8323
      @denisewenke8323 4 роки тому +1

      Compared to 20%, it's a good start. But you're right, we still have more work to do.

    • @uncommonsense5876
      @uncommonsense5876 4 роки тому +6

      Some blue states like California insist on staying shutdown. I think being used as a political weapon at this point.

    • @AMpufnstuf
      @AMpufnstuf 4 роки тому +1

      If you gave a sane definition to unemployment in this country it's still 20 percent. They don't count part time people living in pure poverty as unemployed. They don't even count people who are unemployed but stopped seeking employment as being unemployed on those lists. Entire age ranges and part time college kids excluded. If you want to really know how the American people are doing: About 45,000,000 of us live well below the poverty line. Now Dave can go read off some more Chinese investments into an app on the phone that won't exist in ten years and has 75 full time employees total. See if it makes us feel secure. The stock markets been a joke for decades. A prop.

  • @aron8659
    @aron8659 4 роки тому +165

    the stock market might have semi-recovered, but to say the US economy has recovered is just not true

    • @eclipsed4utoo
      @eclipsed4utoo 4 роки тому +60

      @@MicheleNichols2 actually, his exact words, "did you hear any news media doing a story, 'The american economy is so robust that it completely recovered from the worst economic false shutdown in the history of the world in 57 days.'"
      Those are Dave's words exactly starting at 1:53.
      So yes, Dave said that the economy completely recovered in 57 days, and that is flat-out false. We are what, 7 months in, and have only gotten half of the jobs back that were lost? How is that being recovered?

    • @carolea7158
      @carolea7158 4 роки тому +4

      well that's partially cuz the economy didn't crash all the way in March. A lot of companies were still waaaay overpriced even in March.

    • @IceWhiteice22
      @IceWhiteice22 4 роки тому +15

      Ryan Alford He’s blind to what is really about to happen

    • @hjames999
      @hjames999 4 роки тому +4

      @@MicheleNichols2 Try listening to the video again. He said economy, not stock market.

    • @silverandgoldportugal
      @silverandgoldportugal 4 роки тому +11

      No no. He said the US economy is so robust that it recoved in 57 days.
      Give me a break.
      Money printing... Oh ya

  • @TraumaER
    @TraumaER 4 роки тому +19

    Stock Market is misleading more now than ever before. There are about 5 stocks in the S&P that is driving the index higher. The DJIA is more worthless as an indicator than ever before. I’ve made a lot but not fooled about what is really going on. 💯

    • @TheQuickyouknow
      @TheQuickyouknow 4 роки тому +5

      Exactly, while the S&P is back to early March levels GDP and employment aren't anywhere near what they were before. Amazon, Walmart, Netflix, etc are holding up the index.

    • @millertoyal
      @millertoyal 4 роки тому +1

      Exxxaactly.
      Ever watched the movie"My Cousin Vinny?"
      Remember that scene when he stands up in court and says, "Everything that guy just said is BS! No further questions, yr Honor!"
      Same applies here.

    • @chaparra71
      @chaparra71 4 роки тому +1

      Exactly!! What’s going on in the stock market is a fantasy! Reality will soon win out.

    • @therocinante3443
      @therocinante3443 4 роки тому

      @@TheQuickyouknow might have been good if they included tesla. Then again... maybe it's better for tesla that they didn't go in

  • @Takar100
    @Takar100 4 роки тому +27

    They say time in the market is more important than timing the market.

  • @jeepgurl1379
    @jeepgurl1379 3 роки тому +6

    “You make squirrel decisions when you freak out”.

  • @dotteddice2358
    @dotteddice2358 4 роки тому +18

    When the market dips is the best time to buy more stocks, not sell. It's like getting them on sale.

  • @aquarius9491
    @aquarius9491 4 роки тому +7

    for me 2020 has been truly spectacular

  • @termita358
    @termita358 4 роки тому +30

    The only thing worse than politicians is the media. Just aweful 🤦‍♂️🤦‍♂️🤦‍♂️

  • @MyOzempicJourney
    @MyOzempicJourney 4 роки тому +18

    The stock market was propped up by $7 trillion invested by the Fed. It is not the economy . GDP down 30% in the 2nd quarter is the economy .

    • @AshGeo
      @AshGeo 4 роки тому +1

      And your source for this?

    • @MyOzempicJourney
      @MyOzempicJourney 4 роки тому

      Ash Geo source for which one?

  • @harrisl.7924
    @harrisl.7924 4 роки тому +1

    That picture of the"squirrel 🐿️" example is hilarious and sad at the same time! I hate when the squirrels do this 🤣🐿️😭

  • @ericbrown1484
    @ericbrown1484 4 роки тому +101

    The stock market recovered. The economy didn’t. Know the difference.

    • @weirdo1060
      @weirdo1060 4 роки тому +18

      VP Biden mentioned 'K' recovery. People who have assets (e.g. stocks, white collar jobs, etc.) have become richer. People without assets have become poorer

    • @laur-unstagenameactuallyca1587
      @laur-unstagenameactuallyca1587 4 роки тому +1

      @@weirdo1060 thats most likely whats going to happen

    • @arodgefan589
      @arodgefan589 4 роки тому +3

      Generally, the Stock Market is an indicator of total economic health, but you'll get there some day, kid.

    • @ericbrown1484
      @ericbrown1484 4 роки тому +23

      @@arodgefan589 the federal reserve pumps trillions of dollars into the economy and keeps interest rates artificially low. This props up stock market prices even though the economy and average Joe are not doing well. Don’t worry, maybe you’ll get there some day kid, but you certainly won’t get there by watching Dave Ramsey.

    • @anabanana6480
      @anabanana6480 4 роки тому +2

      @@ericbrown1484 that’s interesting. Where do you recommend putting your money?

  • @DreamForged
    @DreamForged 4 роки тому +2

    As per usual Dave hits the nail on the head. No one can predict the future, but if you invest consistently over a broad time horizon historical trends point to future success. However, do take some time to rebalance your portfolio after the shakeup as needed; keep your diversification and risk tolerance in line.

  • @jp__878
    @jp__878 4 роки тому +16

    Bears make money, bulls make money, pigs&sheep get slaughtered.

    • @stfudance5850
      @stfudance5850 4 роки тому

      Truth

    • @evelynvega1730
      @evelynvega1730 3 роки тому

      Jack Platis what about Democrats and Republicans?

    • @jp__878
      @jp__878 3 роки тому

      evelyn vega *The Rothschild’s would like to know your location*

  • @DNR5586
    @DNR5586 4 роки тому +70

    The road of life is paved with flat squirrels who couldn't make a decision.

  • @mhsisson3294
    @mhsisson3294 4 роки тому +6

    I almost took a 401K loan out in March when I got laid off from my job. I’m so glad I didn’t do it

    • @burntblonde2925
      @burntblonde2925 4 роки тому +1

      Very smart!! Better to be able to retire early and/ or comfortably

  • @Polyester_Avalanche
    @Polyester_Avalanche 4 роки тому +14

    The real question is WHY isn't the media calling this "recovery" what is actually is- the reflation of a huge bubble.

    • @douglassmith9445
      @douglassmith9445 4 роки тому

      Exactly! This is all a huge bubble. It's impossible for the s and p index fund to be consistently successful for forever and it's already had many many decades of success overall. It has to stop at some point.

    • @blackworldtraveler3711
      @blackworldtraveler3711 4 роки тому

      Douglas Smith
      Why worry?
      Put your debt under your pillow.

    • @douglassmith9445
      @douglassmith9445 4 роки тому

      @@blackworldtraveler3711 no debt is necessary ever

    • @blackworldtraveler3711
      @blackworldtraveler3711 4 роки тому

      Douglas Smith
      Wouldn't know.
      The only debt I ever had was 30yr mortgage and paid that off in 9 years.
      I even used my credit cards since the 90s in 48 states and 57 countries without debt on them.
      Not even concerned like you are about your bubble.

  • @TommyG11814
    @TommyG11814 4 роки тому +5

    Two things to remember, Dont panic in the stock market, quit watching the news media.

  • @JoeGarofaloII
    @JoeGarofaloII 4 роки тому +3

    'No, dont freak out and sell that, I'll choke you' that's precisely the best friend that everyone needs 😅

  • @teebone2157
    @teebone2157 4 роки тому +99

    Thank the federal reserve Dave. The economy isn't the stock market

    • @willmallory9085
      @willmallory9085 4 роки тому +9

      Exactly!

    • @melaniegarcia7340
      @melaniegarcia7340 4 роки тому +13

      J Wil that isn’t a talking point, those are facts. There is no other way to explain why there are millions of people without jobs but stock market reaches all time highs. Federal Reserve with their quantitative easing(since September2019, not just recently) and that the stock market doesn’t equal the economy.

    • @justinacase2623
      @justinacase2623 4 роки тому

      Mel, only half of America is not working, the rest of us are carrying the load, your welcome. My biz is wide open, we are behind!

    • @schuylergeery-zink1923
      @schuylergeery-zink1923 4 роки тому

      The stock market ISN’T the economy. But it does impact retirement (and other investment) accounts which has a real impact on peoples’ net worths esp when they jump off the roller coaster as Dave says. Also realize that California and NY shut down, hurting their economy whereas states like mine, Nebraska, are doing great economically. Our job market is poppin and I have a new neighbor who moved from New York. Mass exodus from shut down states to economically viable jurisdictions. People will go where jobs opps are. The country isn’t a mess, just a handful of states are. And they did that to themselves. “Sorry peasant! You’re not allowed to work to feed your family! Good luck when I ban you from buying garden supplies and baby clothes! Tut tut!”

    • @justinacase2623
      @justinacase2623 4 роки тому

      @@schuylergeery-zink1923 only half the economy is not working. The other half is going well, and trying to catch up.

  • @yakopro49
    @yakopro49 3 роки тому +1

    This has to go down as one of the realest short clip videos of 2020

  • @mikek1681
    @mikek1681 4 роки тому +8

    Well, Dave, the indexes came back. But there are segments that still have not -- cruise lines, airlines, theme parks, real estate investment trusts, oil and gas. It won't be 57 days for them. Their losses are offset by the gains in tech and online businesses like Amazon, so the composite indices look ok.

  • @rickm6076
    @rickm6076 4 роки тому +37

    I’m glad that my portfolio looks the way it does, but I’m also fully aware that it’s not a reflection of the actual economy recovering. We just considered 850,000 new unemployment claims to be a success because it’s under 1 million. Anybody remember when 100,000 was considered bad?
    The uncomfortable truth about all this is that funny money works so long as the state remains in tact and powerful. That’s all this is.

    • @peterjpavlov
      @peterjpavlov 4 роки тому

      CNO That extra $600 ended weeks ago.

  • @jennywalker9572
    @jennywalker9572 4 роки тому +42

    I was filling up my car with gas this afternoon and thinking: "I remember in the springtime when Dave told us not to worry, don't sell the stocks, gas prices will go back to normal". Guess what, it did.

    • @bigbanknewyork3655
      @bigbanknewyork3655 4 роки тому

      just wait til the eviction moratoriums end & 40 million go homeless in February 2021.

    • @saiga12forme88
      @saiga12forme88 4 роки тому +7

      @@bigbanknewyork3655 Unless they.. *gasp* go back to work and pay their bills. It's crazy enough it just might work.

    • @sexweightsproteinshakes
      @sexweightsproteinshakes 4 роки тому

      Saiga 12 For Me lolol

    • @justinacase2623
      @justinacase2623 4 роки тому +1

      There are plenty of jobs, time to go to work!

  • @waterkeeper03
    @waterkeeper03 3 роки тому +2

    March 18th was the day I finally entered the stock market. Thanks to the teaching of Ramsey and Tony Robbins and others I have made some excellent gains in my finances!

  • @antoniovialpando237
    @antoniovialpando237 4 роки тому +6

    I'm not an expert finance guy (and yes, the media have their own agenda) but saying the economy has "fully recovered" doesn't even sound right.
    Always thought the DJIA was trash anyway.

  • @drakewesterman9798
    @drakewesterman9798 4 роки тому +5

    I remember paying $1.09 for gas in the spring time, the good old days.

  • @AngTheCanadianPilot
    @AngTheCanadianPilot 4 роки тому +1

    This is why I’ve always listened to Dave -

  • @ChalkboardMom
    @ChalkboardMom 4 роки тому +4

    🤣 bloom blom.. The squirrel analogy is hilarious

  • @brucebjorkman9336
    @brucebjorkman9336 3 роки тому

    Thank you Dave for being a voice of REASON in this tumultuous world. I very much appreciate your point of view and sensible advice. You ARE an American Treasure! Thanks again for all you do!

  • @leahcarha813
    @leahcarha813 3 роки тому +1

    We cashed in at the bottom; thank you for your advice.

  • @diamondheart11
    @diamondheart11 4 роки тому +3

    🔥Dave ramsey is on fire today!🔥😂😅😀😆😅lol! These rants are too funny this one, and the previous video. Can't stop laughing!

  • @RMahoneyPersonal
    @RMahoneyPersonal 21 день тому

    My wife and I paid off student loans in 2020, and recently finishied our 6 month emergency fund. Now we are getting to the 15% gross pay in retirement plans including work 401k and Roth IRA plans we have. Slow and steady … we’ve kept tithing and saving each month all the way through plus had a fun spending money envelope.

  • @cunn1n6ham
    @cunn1n6ham 4 роки тому +6

    I doubled down when it went down...then pulled out in June. Standing by for the big crash....Govt can’t keep printing money and propping up the market forever..........orrr maybe it can 😂

  • @justgenapa
    @justgenapa 4 роки тому +1

    I remember my now ex-husband trying to talk me into cashing in my 401K in 2008. I didn't do it then and I'm not doing it now. Dave's right; it will rebound. Stand fast.

  • @andrewmathews6527
    @andrewmathews6527 4 роки тому +19

    We need to define what the American “economy” is, because, despite the gains on Wall Street, however, there are still business shuttering and failing and local governments and municipalities still lacking much needed tax revenue in order to function. So, while it’s great our investments have recovered, has the “economy” really recovered?

  • @myfinancialclimb3121
    @myfinancialclimb3121 3 роки тому

    My Roth 401k dove down to 19k in March or April. It has since recovered and I'm sitting at 42k. Very happy with my position. I've also added a Roth IRA during this year while all of this was happening so that's at 6k. Getting this thing rolling!!

  • @j0nrages851
    @j0nrages851 4 роки тому +68

    The economy is more than the S&P 500 though... We'll feel the effects of this in small ways for the next few decades

    • @guillermogutierrez-santana4446
      @guillermogutierrez-santana4446 4 роки тому +7

      What’s going to happen is that 90% of your town will chain locations, and 90% of the landlords will be REIT’s.

    • @AMpufnstuf
      @AMpufnstuf 4 роки тому +2

      @@guillermogutierrez-santana4446 Sad but true. People can talk all day about Twitter's stock market value but they barely have a job for each state in the union, and they don't make a product. They manipulate an addiction. Most of their investors are foreign. If you want to survive America, buy enough land to build on and defend. And practice defending weekly. Grow your own food, as much as you can. Learn to hunt. All of these numbers get manipulated daily, and the common man never seems to end up with the lion's share.

  • @nicodimus2222
    @nicodimus2222 Рік тому

    This describes my 76 year old mom. Addicted to fear porn. She has been watching the evening news for 50+ years and refuses to stop, even though she has anxiety and panic attacks. WILL. NOT. STOP. WATCHING. THE. NEWS. That's the first thing her therapist told her to do. She refuses. I'll never understand. (I've never been much of a TV watcher, though.)

  • @juliankenzo
    @juliankenzo 4 роки тому +43

    The stock market is primarily owned by the wealthy. As long as they're doing fine, you should probably keep your money invested. Just a thought.

    • @roolyfe
      @roolyfe 4 роки тому +4

      Only 48% of Americans are invested in the stock market. Most Americans are struggling

    • @dete503
      @dete503 4 роки тому +1

      @@roolyfe Where's that statistic from?

    • @gwenfavors7445
      @gwenfavors7445 4 роки тому +5

      @@roolyfe you can be a part of that, if you choose to.

    • @comicpilot
      @comicpilot 4 роки тому +3

      @Kevin Woods I think that is what he (Waweru) means. I could be wrong but he could be saying that only 48% of American's are invested in stocks as a general comment. Kinda open ended. We, as a country, are more into what other's think of us so we keep up with the jones's when we should be more worried about ourselves and our basic needs and investing in our future/retirement. Sure we need to have some fun and spend money on some things. But it has gotten out of control. But it is people's choices to do what they want. But they can't blame others for when the money dries up because they failed to spend a little bit of time and $$ to invest. I fell into that for years. Fortunately I opened my eyes and started saving more and spending less.

    • @Kcducttaper1
      @Kcducttaper1 4 роки тому +3

      The stock market is primarily owned by whomever buys it. People that buy into the stonk market (when done wisely) then become wealthy.

  • @joefunk76
    @joefunk76 4 роки тому +1

    If the stock market (or any market) goes down 30%, it has to go up not 30%, but rather .30/(1-.30), which is about 42%, to recover. This is a common misunderstanding.

  • @TVjaginc
    @TVjaginc 4 роки тому +15

    Dave the economy is not JUST the stock market. 90% of Americans DON’T HAVE STOCKS. Many are still unemployed and now they have to work 2-3 jobs. So much for the 57 day revival. I can’t believe a smart guy like you wouldn’t acknowledge this...

    • @ranger2316
      @ranger2316 4 роки тому +2

      55% of Americans are invested in the stock market in some way or the other.

    • @CC-bm3wb
      @CC-bm3wb 4 роки тому

      Ranger 231 how many Americans have over $100,000 in the stock market? How many have over $50,000 even?

    • @ranger2316
      @ranger2316 4 роки тому

      @@CC-bm3wb I do. And I just contributed modestly over the years in my 401K. People are crazy if they don't take advantage of saving and investment opportunities like that. Times may be tough right now, but the future is especially bleak if you don't start investing NOW!

  • @backdraft808
    @backdraft808 4 роки тому +2

    Thanks Dave. I'll celebrate the same. Love the "economic supression" term. And my money sat as is. Long term baby!

  • @markmccarty1275
    @markmccarty1275 4 роки тому +20

    Because it's an election year and this would be giving the current administration credit for the recovery and we can't have that now can we.

  • @NorthEastTrailRunner
    @NorthEastTrailRunner 3 роки тому

    Hi Dave. I live in the UK and I invest in a mutual fund. It's currently up 11.07%. If I put the money in the bank, the interest rate at the moment would be 0.5%. People still tell me I'm taking a big risk putting my money in a mutual fund, rather than keeping it in the bank. These same people are still making 0.5% interest with their bank, whilst I'm making much more in my mutual fund. Thanks for giving people such great advice.

  • @markirvin1713
    @markirvin1713 4 роки тому +12

    I agree with Dave however this is also the most overvalued stock market in history. Nobody is feeling confident in these highs. I'm not saying sell, I'm just saying the rollercoaster ride isn't over yet.

    • @waltpro1945
      @waltpro1945 4 роки тому

      I wonder if all the stimulus checks went to the stock market and not where the gov was intending it to go. A couple trillion dollars...

    • @davycornell8715
      @davycornell8715 4 роки тому

      Mark are you a never Trumper by any chance?

    • @dwightschuette8960
      @dwightschuette8960 4 роки тому +1

      I agree. Unemployment is high and yet trading near all time high.

    • @markirvin1713
      @markirvin1713 4 роки тому

      @@davycornell8715 no why? I'm libertarian.

    • @Zach-bq7jf
      @Zach-bq7jf 4 роки тому +1

      I agree w you. We're in a massive bubble right now and it's because of the Fed and structural problems earlier

  • @AmberRen
    @AmberRen 4 роки тому +1

    I remember telling people to not sell or even buy a little bit in March based on previous videos. I checked my accounts a month ago and was pleasantly shocked at the huge gains. It was unreal.

  • @jocarrillo52
    @jocarrillo52 4 роки тому +12

    Stock market is not the economy. Our economy hasn't recovered nor has the stock market unless u only consider tech stocks breaking the records. You are wrong on this one dave

    • @chaparra71
      @chaparra71 4 роки тому +3

      Yes, he’s VERY wrong.

    • @evanmoorman3828
      @evanmoorman3828 4 роки тому +3

      A relatively small percentage of Americans own a significant number of stocks. The stock market has completely diverged from the real economy.

    • @jocarrillo52
      @jocarrillo52 4 роки тому +2

      @@evanmoorman3828 exactly 80% is owned by the rich and the 20% left is mostly people with there retirement

  • @1.5Koreans0.5American
    @1.5Koreans0.5American 4 роки тому +2

    Thank you for sharing as always 🙌

  • @tekonethemc
    @tekonethemc 4 роки тому +5

    Another classic rant 😅love it 🔥

  • @outsidewithjeff
    @outsidewithjeff 4 роки тому +1

    I went from a 6% with a match to a 10% and the 6% match in late February because I knew this was just a sale not the end of the world.
    Love your show!!!

    • @outsidewithjeff
      @outsidewithjeff 4 роки тому

      Now that we are back to a more normal market I scaled back to 8%

  • @Fatalinvesting
    @Fatalinvesting 4 роки тому +4

    I kept buying all throughout the crash and during the recovery, Dollar Cost Averaging FTW!!!

  • @clarifyingquestions
    @clarifyingquestions 4 роки тому +1

    Why is the media not talking about Americans' with no 4-6 month fully funded emergency fund. It is every adults responsibility to have one. Obviously ditto for the government, corporations, big business, small business etc etc.

  • @diariodeumcasalviking5425
    @diariodeumcasalviking5425 4 роки тому +35

    Yeah it didn't really recover because the economy is robust. It's the printers working full scale.

    • @PInk77W1
      @PInk77W1 4 роки тому

      So do u think we should have the same amount of money in the system now as when the pilgrims were here ? Or do u think we should print money as the $22Trillion economy grows ?

  • @spartan114m
    @spartan114m 3 роки тому

    Standards need to be put in place to hold MSM accountable.

  • @hp9792
    @hp9792 4 роки тому +6

    I listened and actually upped my investment amount. Thank you Dave.

  • @theayegerlehner7793
    @theayegerlehner7793 3 роки тому

    Well my pantry is well stocked for winter NOW! Due to the panic and I fell for it. So now I plan to eat what we have stocked and budget less for groceries- putting the savings into our extra retirement fund. We’re debt free and doing great! Praise the Lord!!

  • @collegeinvestor7095
    @collegeinvestor7095 4 роки тому +15

    Dave I appreciate your advise. Long term goals for sure!
    The “economy is so robust” not so much though. There is a lot playing into the massive bounce back. Interest rates on bonds are gonna be low for the next 5 years according to J Powel, and so people keep putting money on winners (Apple, Amazon, etc.) since they’re not gonna make money anywhere else. The S&P recovery has been largely driven by tech companies.
    Jobs are slowly picking back up though. But the shutdown was required. Florida and Texas had a major rise in deaths and infections because of lax restrictions.

    • @denisewenke8323
      @denisewenke8323 4 роки тому

      Infections rose. Deaths, not really. And the states with the highest deaths had the strictest lockdowns. I'm not saying that the lockdowns caused the deaths, just that they did not show better results than milder responses.

    • @blurrble5
      @blurrble5 4 роки тому

      @@denisewenke8323 source?

    • @denisewenke8323
      @denisewenke8323 4 роки тому

      @@blurrble5 The CDC, for one. Also Johns Hopkins.

  • @yoopermann7942
    @yoopermann7942 3 роки тому +1

    i wish i would have found you guys 10 years ago!! i would be better off if you guys were my advisers back then

  • @vestor101
    @vestor101 3 роки тому +3

    "Be fearful when others are greedy, and greedy when others are fearful.” (Warren Buffet)

  • @BradfordHomestead
    @BradfordHomestead 4 роки тому +1

    I’ve been kept from seeing my elderly Deaf mother for all this time and she’s dying from a broken heart

    • @jimschuman9926
      @jimschuman9926 4 роки тому

      Same. Mom has dementia. Celebrated her birthday outside her room window. How sad 😢

    • @BradfordHomestead
      @BradfordHomestead 4 роки тому

      @@jimschuman9926 mine is shutting down as we speak. Going to the hospital where she is - she’s 2 hours away. Prayers please friend.

    • @purelovexist
      @purelovexist 4 роки тому

      Bring her home

    • @ericahunt6172
      @ericahunt6172 3 роки тому

      If you can, take her home,I work at a Assisted Living and 2 of our elderly residents passed away due to not eating. Their family came daily to be with them but with the lock down, they were not allowed to come , and my residents missed their family so much that they didn't want to eat and drink. Some residents also ended up with mental breakdown and had to be locked up in dementia unit. You can see sadness in the eyes of most residents and nobody the same after locked up in a room from March till July as they were told to stay in their rooms and the only people they saw was the dining staff putting food down and left. The government need to think about the poor elderly residents' mental and physical welfare

  • @Shootskas
    @Shootskas 4 роки тому +10

    I'm starting to question whether the stock market is a reliable indicator of overall economic health.

    • @blackworldtraveler3711
      @blackworldtraveler3711 4 роки тому +1

      Thomas Paine
      You need to look at your own household and financial situation to know that.
      You know, things you can control.

    • @thepsychicspoon5984
      @thepsychicspoon5984 4 роки тому

      It not. The economy and the stock market are not synonymous.
      Well, if the market drops, the economy drops. If the markets go up, the economy stays on the bottom.

  • @ChurchieShed
    @ChurchieShed 3 роки тому +1

    We not only held but increased position %s during the “sale”. Thanks Dave!!

  • @laskipikera3205
    @laskipikera3205 4 роки тому +37

    Opportunity mixed with difficulty
    “Jim Rohn”

    • @felipebarron3479
      @felipebarron3479 4 роки тому +3

      Jim Rohn!!!! ....."Life and business is like the change of seasons"

    • @jeanlenor1858
      @jeanlenor1858 4 роки тому +1

      My mentor

    • @chrisdean3072
      @chrisdean3072 4 роки тому +2

      Jim Rohn’s books and audios should be taught in school. It would prevent a lot of people from making bad decisions in adult life.

  • @dylanP112
    @dylanP112 4 роки тому +1

    Squirrel decisions 😂 love that

  • @eastlight313
    @eastlight313 4 роки тому +71

    Why the stock market is up....
    MONEY PRINTER GO BRRRRR....🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑🤑

    • @pep590
      @pep590 4 роки тому +4

      And the government blew up the twin towers.

    • @IceWhiteice22
      @IceWhiteice22 4 роки тому +6

      Exactly, they just keep printing money

    • @ShroomFactory
      @ShroomFactory 4 роки тому +3

      @@pep590 And several other buildings.

    • @noname-oe9jy
      @noname-oe9jy 4 роки тому +3

      @@ShroomFactory People always talk about "The Twin Towers". But most seem to have never even heard of Building 7. Blows my mind.

    • @ShroomFactory
      @ShroomFactory 4 роки тому

      @@noname-oe9jy and Never Forget Building 6 too!

  • @dawnchildress2217
    @dawnchildress2217 4 роки тому

    True words! Just got my Q3 statement and it's up over 10% from Q2. My Q2 was up 5% from Q1. Thanks for keeping people sane during this craziness. No America...the sky is NOT falling.

  • @702prodigy
    @702prodigy 4 роки тому +4

    dave you have to be the most awesome person i’ve ever seen thank you so much

  • @AriesMars203
    @AriesMars203 4 роки тому

    Best gift I ever gave myself is finding Dave Ramsey method. I am in such a better position financially.

  • @jodycochrane888
    @jodycochrane888 4 роки тому +16

    The US has gotta start the baby steps.
    And sell all the cars and start eating rice and beans.
    No more going to golf courses for the president as well.
    😭😂

  • @dkgong
    @dkgong 4 роки тому +2

    Be greedy when others are fearful, and be fearful when others are greedy.

  • @wwbaker3
    @wwbaker3 4 роки тому +17

    Stock market is just an indicator of the economy, not the actual economy. We have a huge divergence right now between the 2. Dave, you're out of touch

    • @g.t.c7647
      @g.t.c7647 4 роки тому +4

      Agreed. Additionally, how much of the S&P recovery is driven by a handful of tech stocks?

    • @ASQ1Fan
      @ASQ1Fan 4 роки тому

      @@g.t.c7647 Or the big box stores that are essential?

    • @552mustang
      @552mustang 4 роки тому

      @@g.t.c7647 The S&P is 500 stocks. Its diversified by definition.

    • @g.t.c7647
      @g.t.c7647 4 роки тому +2

      552mustang it’s a market cap weighted index. So, sure it has 500 companies, but they’re not all equal components. Thus, the companies with greater market caps are going to influence the index to a greater degree. So my point is that a handful of tech companies are pulling up the index and masking the underperformance of the rest of the companies in the index.
      Regardless, the stock market is not the economy and the economy is not the stock market.

    • @justinacase2623
      @justinacase2623 4 роки тому

      Will, Delta is ready when you are!

  • @christynr1388
    @christynr1388 4 роки тому

    Thanks for saying this!!! No one else is.

  • @MisteRRYouTuby
    @MisteRRYouTuby 4 роки тому +3

    Why didn't we hear about the Stock Market recovery? You answered your own question; Coronavirus, Financial Disparity, Racial Division, and Political Upheaval. It's amazing how little the Stock Market matters when PEOPLE have to focus on living through all this. Come down from the mountain, Dave. The work is in the valley.