Council of Economic Advisors are the ones who define a recession and business cycles. So no… you’re wrong.. the definition was not changed as far as the US is concerned. However - International definitions of recessions did indeed show the US in contraction for 2 quarters, and then grew out of it.
Even my electric bill has gone out the roof. Gas, electric, food, household products, pet food, interest rates--all are much more expensive than prices / costs 4 years ago! That is a FACT.
The businessmen are punishing us because rents and evictions were restricted during the cuogh, because wages for essential workers went up, because people want to get paid for their work & have lives.
Guess what, inflation going down doesn’t mean prices do dumb ass. If the inflation rate was 30% three years ago and 0% since, you are still paying more. We rarely see deflation. Most neoliberal economist agree that you don’t want deflation.
This is like completely crazy. You realize people have to use their credit cards bc they can’t afford the milk every week. Take a drive around a moderate income area it’s insane. A town home is 1/2 a million dollars 4,000/month and you have two kids who need to eat. Forget about signing up for sports bc that’s an additional $100-300 per month per kid
Sports are only the cost of the ball. I never had trouble playing basketball as a kid, but I also lived in the hood so we just played outside without a league.
Imagine believing those numbers. People are working two jobs. The costs of normal goods are up by double from a mere 5 years ago. A trip to McDonald’s is as much as a sitdown restaurant. Guess we’re all imagining things.
The state of the economy is not based off of the price of a Big Mac. It’s almost like you didn’t pay attention to the video and shot right to the comments.
This segment will not age well. The unemployment is lower but full time jobs have decreased and part time jobs have increased. The rate of inflation is less than the pandemic of course but prices continue to rise at alarming pace plus increase of salaries are not keeping up. So no it’s not pretty out there.
Inflation is going down, but you’re not understanding what inflation is. Inflation is the rate of increase. If inflation comes down, it doesn’t mean prices are coming down.
Exactly - and anyone who thinks otherwise is not living the average American life. Groceries alone have caused a serious financial hardship for a LOT of families. I feel very sorry for couples with children. My grocery store bill for just two of us (adults) has sky rocketed and I only shop the best sales by literally going to two different grocery stores to get the very best sale prices. I can’t imagine what the high prices are doing to people with children. Both of my sons now have gardens to help offset their summer and late fall grocery bill. My one son has even hunted for his own meat to avoid the high costs of meat at the grocery store. I know now everyone can hunt a deer and like to eat venison, and there’s still a butcher cost to pay - but it does save money. Extreme measures are being taken to be able to put food on the table.
We’re getting back down much closer to a typical healthy inflation rate. It’s still slightly high but it’s much much better now. U6 unemployment is a fair criticism. It’s been slowly ticking up the last 18 months, albeit only a tiny bit and is still at a quite low overall level.
Inflation is down. Let me fix the headline. Inflation still is high but not as high as it used to be. The stock market is up. Again let me fix that headline. 65% or Americans don’t own individual stocks or have a 401k style account. So they don’t GAF if the stock market is up. I could go on but I need to make lunch, which used to be a burger or sandwich all of the time, but now occasionally needs to be a $3 box of mac and cheese. Who ever thought the cheap powdered cheese, mac and cheese would reach $3 a box at your local grocery store? I didn’t. I am going to have to start buying the off brand mac and cheese at the discount grocery store or check out Walmart.
Some interesting statistics about unemployment and the current job market that kind of squashes this videos take on jobs. The report that was just released this week says unemployment is at an all time low which is correct. However, they didn’t mention that full time employment plunged by a large percentage and part time employment sky rocket which means a lot of people are out there getting multiple jobs right now. The other interesting thing is that 43,000 of the new jobs that were just created are government jobs which means the government is propping up that number. It would mean a lot more if the jobs came from the private sector…
Here are the questions they shoud've asked: - Is it cheaper to buy a house now vs 5 years ago? Is the rising price of housing exceeding wage increases. - Is it more expensive to fill up your cart now vs four years ago? - Does it cost more to send your kids to college now vs four years ago? Does it cost more to eat out now vs four years ago? Is the cost of healthcare exceeding the rate of wage increases?
Thank you for being one of the few people with a disagree who came up with reasonable counterpoints instead of appealing to emotions or just claiming to be gaslit.
People aren't basing these answers on their feelings, they're basing them on how much they're having to shell out daily just to live. It's a lot higher than before.
I thought the same thing. This is the first time I thought the Ramsey Show is out of touch. I can’t afford a 70k truck at 1% interest or 8% interest. I love my career. I get to help children all day but my career isn’t lucrative. I have cut back expenses because of inflation. For example, I don’t go out to eat as often. I eat cheaper food like pasta instead of beef. I look for the lowest priced gasoline when I used to just go to the closest station to wherever I was in town. That sort of thing. Basically, I have to watch my pennies now like a poor person. I am supposed to be middle class, which is supposed to mean I have a degree of cushion financially. That cushion is gone.
@@indiaandrews6996 "like a poor person"? lol what a privileged comment. Whoever said you're guaranteed a lucrative career? You have to eat less beef and watch where you spend? oh NOOO!!! boo hoo. What a typical American comment. Do you have any idea what poor people do every day? people who are ACTUALLY poor have NO idea if they're going to even eat that day. They're the homeless, or about to be homeless.
@@oneisnone7350 obviously you can manipulate how you articulate data to change how people interpret it. But they are citing traditional economic metrics that have been used as benchmarks for decades. You can have a genuine discussion on the quality of the metrics they used, but most people will cite them when their party is in power and suddenly discover nuance and poke holes when the political party they don’t like is in power. This is a movie as old as Biden.
I don’t need numbers I just see my wealthy, middle class & broke friends all complaining about the same thing. Not just food all items not small increase high spike cost. Gas same. Taxes up. Etc.
@@katnez He's American, so probably not. Reading is hard for Americans. By the way Katnez, you cannot possibly have "middle class" friends. The middle class hasn't existed in America for about 100 years.
I know you’re right lol I was gonna say that in parentheses not everyone’s aware of that most people are but like you commented regarding the other guy😂 or girl whatever it is
Totally out of touch these two are. If things are going good for the economy, then why are companies all over the nation going through massive layoffs?
None of this means America is doing well. Times aren’t necessarily tough for my house but it’s different. We’re lucky to be in a good position during these times
You are. I live in a mostly working class neighborhood where families cannot afford $3 for a box of the powdered mac and cheese (which also is a smaller box than six years ago because of shrinkflation).
A recession is 2 consecutive quarters of decline is GDP. Q3 of 2023 went down from the quarter before that. Q1 of 2024 went down from the quarter before that. So that's 2 quarters where they went down.
Since May 2023 the population has gone up 1.6 million yet only 373k more people are working. 532k were added to the unemployed and 721k have been thrown out of the workforce entirely so they aren't counted. 100.5 MILLION unemployed people aren't counted in the stats now!
I’ve seen people complain about their financial situation but get defensive when I point out that they’re spending $1,000+ every month on things they don’t need. Maybe try cutting back on those things? Starbucks, DoorDash, all those subscription services, and that’s just a start. I avoid the pitfalls of debt by listing every line item by priority, and needs ALWAYS come before wants. It’s always in the order of needs, retirement, savings and wants. Sometimes I do without the latter. That’s life And most people really need to lower their expectations. If you can only afford to live in a rough neighborhood, then live there. And work your way out of that neighborhood. If you can’t afford to live in your current city, then relocate. That may require you to leave some stuff behind and cut your losses. Again, that’s life
Professional grade gaslighting at the end - how's one supposed to respond politely? People's spending issues derive mostly from the fact that people are so disconnected and because people are in disdain for eachother. Especially because of diversity injections everywhere, people don't want to be generous anymore because that generosity has been abused, the list goes on and on. You're literally saying 'stay in your lane' when the issues at hand inpact everybody on earth "But your opinion doesn't count because you're not inclined to keep your toolbox sorted" - up yours.
You are just mad your political agenda has been exposed. I invest in the stock market. Yes, stocks are way up, unemployment is way down,. inflation is not as high anymore. How do I know? I was paying like $4 for eggs at Walmart last year. I just paid $1.29 for the same eggs. Facts over feelings. Also, I was paying $4.44 for gas in TX last year. I just paid $2.99. Facts over feelings.
Not gaslighting exactly, but cherry picking. When the average salary can't afford an average car or home, something is wrong. When inflation is up 20+% in 3 years, something is wrong even if this month it is not. Great empathy guys
Yes. I am actually shocked by this video and information they “think” and are passing on as though people do not know or feel what’s actually happening. We all see our finances /paychecks being eaten up with high costs of EVERYTHING now- for the past 4 years!
@@greggpurviance7252lol on all these videos I see comments from people claiming how much better they are financially than the caller, and then a video like this pops up and y'all cry that you have no money 🤣
This is astounding, the full-time jobs everyone has are paying $15-$17 an hour but require degrees or 5 yrs experience. My husband and I are debt free, fully funded emergency fund, and make $100k but wouldn't get approved for a home (not that there is one we could afford anyway). No, this is not fine.
Something isn't making sense regarding inflation. Using official data, I added up all the inflation over the past 4 years, and it comes out to +18% total. However, since 2020, my auto insurance has doubled, my home insurance has doubled, my HOA dues have doubled, my gas/electric has gone up by about 50%, internet has gone up by 20%, and groceries/restaurants have easily gone up 50% during that time. Almost all of my essential expenses have gone up 50% to 100% in 4 years.
Exactly! Same here! Before 4 years ago, I was doing extremely well financially. Now- pay check to paycheck and unable to save any money regardless how hard we are trying. I’ve never been in this situation in 50 years. We have cut back on EVERYTHING possible. No more eating out, never turn on electricity unless necessary at that time, barely move the car- but do so only when necessary to get to work and grocery store, do joy buy any extra things like clothes or shoes, have had to cut back on gift giving which breaks my heart because I have always been a kind and generous person, have not had a vacation in 4 years, and generally work, go nowhere, shop best food sale prices as possible, pay all bills without getting behind - and am extremely thankful I saved up a nice nest egg (for retirement) before the current administration was elected into office. I use to always be able to make my bills, save money and do things like go out for dinner once in a while, take a vacation once per year, buy a new pair of shoes and outfit once in a while, and have money left over - to donate to non-profits, church, etc and save money in my own account. Not now- we barely make it pay check to paycheck and am still looking for ways to CUT spending. I’m tired of living like a hermit and not being able to go out and spend some money to do something I want to do. This economy is absolutely ridiculous and is hurting most Americans. Wake up and smell the coffee, please.
Because they are using cpi to measure inflation which basically only measures the cost of inflation in groceries not actual cost of living…. Cpi is calculated my taking a basket of groceries prices from the year and comparing it to the next year.
They have changed the definition, as well as how they measure a period of a "recession" over time and I think this is where people have frustration with the Ramsey team. It is easy for you guys to sit up there and take the government narrative of we are not in a recession and point fingers at everyone else for being "wrong" after googling the word recession and not adding any extra context. I believe the figure that I have seen, if they measured it by the same way when they FIRST defined/measured the word recession, was near or over 20%. +/- 5%. You guys are naive. Also when they change how they measure "recessions", they do not go back and recalculate the old numbers to the new definition, or way of measuring, a "recession." They just change how they measure it then add it to the charts that they already have. Essentially they fudge the numbers to get what results they want, so that you dorks can sit up here and try and convince regular people watching your show that everything in the grocery store hasn't gone up 20% in the past couple of years.
If by America, you mean the warmongers in government, then ok. If you mean the vast majority of the population, then you're mistaken. Most Americans are sick & tired of war, don't want our resources going to Ukraine, don't want a fight with Russia. Most people don't want death. At least no one I've ever met in this country, regardless of political view.
Q1 and Q2 of 2022 were negative GDP growth, signifying the start of a recession. Have we exited recession yet? Based on the Fed being unable to tame inflation and $1.5 trillion annual deficits as far as the eye can see, I'd say no.
As smart as you two are, I cant believe you are using the governments numbers like they aren't manipulated and they haven't been moving the goal post. You trust your government way too much.
@@ulf5738What would you call a parent that gives their young child puberty blockers or says a 3yr old boy is now a girl. Would you say they're part of a cult because they believe they are doing the right thing?
This episode will age like milk outside on a 100 degree day just like those from 2021 when they were scoffing at people concerned about inflation telling them to keep renting if they couldn’t buy a home with 20% down, a 15 year fixed and less than 25% take home pay monthly payment.
Keep in mind that inflation the 1st derivative, change in inflation is the second derivative. Inflation is falling but that doesn't mean prices aren't increasing.
All the while most of them continue to run up their credit cards on things they don’t need. As soon as someone complains about how expensive everything is and I see something like Starbucks in their hand, I start to tune them out NEVER borrow money for anything you don’t need. There is zero possible way for that to not be idiotic
The definition of recession was recently changed during this administration, so if you go with the traditional definition before the recent change we certainly are in a recession.
There’s a lot of crap mixed into the numbers: - Inflation being down just means prices aren’t rising as fast as they did … BUT prices are still up, especially with groceries and gas - things we rely on a daily basis - Unemployment may be low, but most people working are underemployed… 50% of college grads are working high school level jobs, and a lot of people have to work more than 1 job to keep up with costs. - We aren’t in a recession, BUT, people are going further into CC debt trying to make monthly payments on their normal expenses. This is not sustainable and will lead to many people going broke. These are facts. The economy may look good on paper, but just under the surface is the real story of Americans struggling more than ever. Not being able to afford basic needs and housing is real!
@@jirehguy yes, deflation is actually a good thing. We've been propagandized for over a century that industrialization and automation which makes our lives easier is "bad" so the government printed money to make the efficient economy less efficient. For example, no one would argue that only paying $200 for a super computer that fits in your pocket today is a bad thing, yet some how that's bad for other consumer goods?
I don’t believe these stats, I believe the prices, interest rates, etc that I experience every day. Things are not better for the average person period
Inflation is always and everywhere a monetary phenomenon. Price levels increase when too much money is pumped into the economy due to excessive credit demand. Money printer goes brrr during pandemic and after, surprised Pikachu when inflation goes up. Also inflation is way higher than reported rates because they no longer use a fixed basket of goods.
What matters is that the middle class is shrinking, and has been for years. What matters is that median personal income, or even 10% more than that, is less effective in buying a home anywhere near the median home price than it's ever been. Everyone feels that and they're gonna potentially vote in a way that you don't like because of that. Politically, things are going to come onto the table that have previously never been on the table
The middle class did not meaningfully exist prior to the 1930s. The heyday was 1945 till 1975 roundabout. Economic injustice and incoherence has caused it to shrink in the US, and select other countries, ever since.
@@rickm6076 If the middle class did not meaningfully exist prior to the 1930s, then the middle class has NEVER existed because it certainly has not existed after then.
1. The current administration changed the definition of a recession. Based on the old definition, we recently went through two consecutive quarters of declining GDP. 2. Inflation is currently 70% higher than it is supposed to be. And we just experienced four years of hyperinflation. 3. Stock market has grown roughly 26%, but with inflation being 20%, we've only experienced 6% of real gains in the past 3+ years. 4. Unemployment is low due to a high number of retirees re-entering the workforce due to high levels of inflation. Unemployment being low does not account of the youth who have not entered the workforce - and if you have never entered the workforce, you are not considered unemployed. 5. Labor force participation rate, which was not mentioned here, is still lower than what is was before the pandemic.
"In 1974, economist Julius Shiskin came up with a few rules of thumb to define a recession: The most popular was two consecutive quarters of declining GDP." - Forbes The Biden administration and the U.S. Bureau of Economic Analysis refuted this even though we had two consecutive quarters of declining GDP in 2021-2022.
@@bradleymaravalli2851 We don't live in 2021 and 2022 though. That was the last time we were in a recession. No one can change the definition of recession. It's an internationally recognized term that one admin can't just change.
@@lepoj Inflation / Deflation is how much prices rise or fall. Last quarter they went up +3.3%. That's a positive number meaning inflation is still rising. The number needs to be negative for deflation.
Wow..inflation is lower. Prices are only rising at 3.4% month to month (With inflation average prices have risen 30% since 2021) meaning your annual pay needed to increase by 30% to equal your spending power in 2021...almost all of us are worse off!!!!
Inflation between January 2021 - May 2023: 16.26% Inflation between January 2021 - May 2024: 20.07% This is what people mean when they say inflation is increasing. BTW totaI inflation under Trump (January 2017-December 2020): 7.26% for comparison
I havent bought soda in over 5 years but last week I was feeling it for some reason. I could not believe how much it costs now. A 12 pack of coke is $10!! I could've sworn you could buy a pack for like 4 bucks before COVID.
I got them all right, except I have to disagree with the last one although I answered decreasing. Insurance rates are going through the roof and food prices are ridiculous.
If you can master ignoring all the products constantly being marketed to you, you can do ok financially. The problem is how much insurance, groceries, utilities, and gas are. They pretty much drain all the money you are trying to save.
The idea that Americans are only believing the media and need to ask how their finances and house are doing is the first time I thought this show is out of touch. I live in a working class to tiny bit of middle, upper middle class valley with about a half a million people. Most people’s households aren’t doing well financially and they aren’t blowing money on lavish lifestyles. BTW Ramsey Show, they aren’t out buying 70k trucks. They can’t afford them. Period.
Exactly! They likely make substantially more income than all of us combined and are clueless as to how the high costs of everything over the past 4 years has caused major financial woes for so many Americans. I know so many people who use to be able to save some money every month who are NOW literally living pay check to paycheck.i know people who have to decide between doing laundry or buying food for the week! Hard choices are being made. And, the saddest thing is many people are now forced to charge food and other necessities and pay bills like electricity using their credit cards!
What alternate bubble is there where unemployment is some how high? Every business, school, gov. department is desperately low on people. Just show up every day, sober and not high, and have a job. OMG where is this world where there are more employees than jobs, because I am exhausted here, working overtime covering all these open positions.
What is the pay though, is it higher than just being on welfare or taking some drugs to get on SSDI? In my state an unmarried couple can net out nearly $100K in welfare benefits by not working.
The Fed didn't have to increase the interest rates. They did it as an attempt to push down inflation. However, higher interest rates affect consumer demand and borrowing, but the inflation was caused by the supply side. So, they used the wrong tool, but it's one of the few tools they have. The Fed can't directly address supply side inflation. Although it may have helped a little, but it was obvious to me from the beginning that inflation wouldn't be transitory and would be sticky. They finally addressed that at a recent fed meeting and acknowledged the mistakes in their past assumptions. So, all they did was make it unnecessarily expensive for people like me who had to move recently and am paying and extra 800 a month in interest and for people and businesses who want loans.
How much of that "spending" is on credit? Is that nominal or adjusted for inflation? How much of that spending is proportional to people's income/wages? How has the cost of living changed for average people? This is what people "feel". People don't feel GDP.
I have 20 years of experience in Marketing and 6 years of Estate Management experience, a bachelor's degree and 36 graduate credits, and many additional skills and I can't find a job. I'm not even getting interviews for positions that pay poorly. The good news is that I don't need one but if I did, I'd be in trouble. Anyone who's in the real world knows that the economy is not good, regardless of the way the numbers are presented. You guys need more diversity on your team in terms of age and marital status. My father's house sold 6 years ago for $490K--which was $70K above asking--and it's now valued at $750K. I bought a sandwich at Panera Bread the other day that cost $15. When I buy groceries for one meal the bill is typically around $60. I'm in a Midwestern town of less than 300,000 people, btw.
@@lepoj It’s 100% false that prices ALWAYS go up. Ever heard of DEFLATION? It has and can still happen. Inflation is still rising too fast, which is EXACTLY why the Fed is refusing to cut interest rates.
Median personal income is barely 41,000. That's not a whole lot higher than where it was 15 years ago, forget 5 years ago. Not everyone makes 25% above the median, by definition, and not everyone has a spouse able or willing to have a similar or better income. You have to use the median personal income, which is barely 41,000, to understand. Otherwise you are confused. You don't understand. So, median personal income relative to other median costs is your question, and it's horrifically bad. Unbelievable almost if it werent so real
Take spending categories as % of income. That will tell you everything you need to know. We are driving fast towards a cliff edge. Saving are low, debt is high, cost of goods is increasing exponentially, housing is out of reach, medical is way up, food is way up, cars are way up, flights are up, entertainment is way up.
I am freaking out! Why am I dumb for being concerned about my grocery bill? I’m living debt free (except mortgage) and everything is getting so tight. I’m watching things go up and up and up. I’m not borrowing. My home and marriage is great. My grocery, gas, and utility bills are crazy!
The real message is that the “economy” is thriving at the cost of people suffering. Eventually there will be a tipping point where when nobody can afford anything outside of the basic necessities, nobody will be buying Teslas, MacBooks, etc. and the “economy” can’t survive without consumers.
Q3 is not correct. Before covid unemployment was at 3.4% but now it's at 3.9% down from covid times but still has not recovered! and q3 the cost of stuff is very high, over 22% average!!
Inflation is at 2%, but prices are still damn high. Prices are never gonna go down cuz thats how economic work. All you can expect is to wages to go up fast.
Such a patronizing video. People are still seeing the effects of post pandemic inflation and it will take a few years to adjust considering inflation does not go up again.
S&P 500 has set new recod highs... Let's talk about the bubble that's about to burst. Inflation is coming down... Let's talk about how new math and monthly adjusted numbers are not an accurate grade of Inflation. Spending is up... Let's talk about the way we are progrmmed to spend borrowed money on things we know we don't need.
@@jonasyracheta2185 remember when egg prices sky rocketed because of a bird flu? They're no where near that high anymore. Remember when natural gas prices skyrocketed last year and now they're back down? Oranges are more expensive right now due to a disease but those will come down eventually too.
@@lepoj but why is it so volatile? Answer given is just explaining the obvious. I can say cocoa is volatile too and just dismiss it at that. But why are price discoveries so insanely volitile? Consumers, seemlessly track the costs but it is so complicated for government to track it....yea right?! Is the current CPI formula truly accurate?
@@jonasyracheta2185 Are your reading comprehension and critical thinking skills that low? Let's try it this way then: Bird flu = less chickens Less chickens = less supply Less supply = more demand More demand = higher prices. No more bird flu = more chickens More chickens = lower prices Those acts of God can't be predicted and throw food and energy prices in all directions at *much* higher rates than everything else. These changes can last a few weeks, months or years. In other words *volatile*. Instead of just blindly hating everything, try to educate yourself first
The unemployment figures are skewed due to people who have removed themselves from the job market and people working mulitiple "gig" jobs with no benefits. They were clear about the inflation, the RATE is falling at which prices are still RISING. So inflation continues, but is slower.
2022 was so bad that people think everything is still bad. The average american doesn't give a shit about whether we're in a recession, the stock market, unemployment rates, or the rate of inflation. They'll answer any question about the economy based on emotion and how far they feel like their dollar is going. How much did my rent go up? How high are gas prices and grocery prices? Can I pay my last doctor bill? These are the questions people use to determine how well they feel like the economy is doing.
@@PepeToTheMooon, I'm saying that the way people will answer these questions is based off emotion. You're kinda proving my point; we're all paying more for things so that means that the answer to these questions is that the economy is doing bad?
@@meanpie13 it’s not based off emotion. It’s based on the fact that people are literally paying more money. That’s the biggest problem, being told it’s just being based on feelings constantly when your dollar is worth less and less every year.
@@PepeToTheMooon the point is, how far your dollar is going doesn't give you the answer to those questions, but people use how far their dollar is going to come up with their answer to the questions. That is literally the entire point of this video.
Also, the January 2024 yoy inflation was 3.1%. Every month after January has been higher than 3.1% so using your own biased metric, inflation is also increasing (again)
The US was in a recession in '21-'22, until the definition of "recession" was changed.... literally
Exactly right.
Ty
They’ve been changing definitions of a lot of things.
Council of Economic Advisors are the ones who define a recession and business cycles. So no… you’re wrong.. the definition was not changed as far as the US is concerned.
However - International definitions of recessions did indeed show the US in contraction for 2 quarters, and then grew out of it.
@@JDawgstwothousandhow dare you come in here with actual data and facts?! 😱
Even my electric bill has gone out the roof. Gas, electric, food, household products, pet food, interest rates--all are much more expensive than prices / costs 4 years ago! That is a FACT.
Actually I'm pleased that my electric bill hasn't gone up as much as I had feared. Thank you Biden!
Actually everything is up on the whole world. Doesn't change the fact that unemployment is at all time low and my stocks are doing fantastic!
The businessmen are punishing us because rents and evictions were restricted during the cuogh, because wages for essential workers went up, because people want to get paid for their work & have lives.
Guess what, inflation going down doesn’t mean prices do dumb ass. If the inflation rate was 30% three years ago and 0% since, you are still paying more. We rarely see deflation. Most neoliberal economist agree that you don’t want deflation.
@@kbanghart you have a learning disability
This is like completely crazy. You realize people have to use their credit cards bc they can’t afford the milk every week. Take a drive around a moderate income area it’s insane. A town home is 1/2 a million dollars 4,000/month and you have two kids who need to eat. Forget about signing up for sports bc that’s an additional $100-300 per month per kid
Move somewhere else you can afford then.
Sports are only the cost of the ball. I never had trouble playing basketball as a kid, but I also lived in the hood so we just played outside without a league.
Imagine believing those numbers. People are working two jobs. The costs of normal goods are up by double from a mere 5 years ago. A trip to McDonald’s is as much as a sitdown restaurant. Guess we’re all imagining things.
The state of the economy is not based off of the price of a Big Mac. It’s almost like you didn’t pay attention to the video and shot right to the comments.
@@WhatIsThis-zq4hk it’s certainly not decreasing. The way they calculate is completely skewed.
@@nilsschear1095it’s almost like you aren’t able to put two and two together. In context, the McDonald’s comment is accurate.
None of the things they talked about have anything to do with how affordable things are.
@@meanpie13 LOL. So the rate of inflation has nothing to do with the affordability of basic goods are? Ok professor. Explain it to me
It's not a FEELING - it's a REALITY!
This video is like saying you're the skinniest you've ever been since losing that leg, because you weigh less now!
Yes!
😂😂😂
It's now like saying you're skinny now because last week you ate 3 big Mac's a day but this week you're only eating 4 instead of 5 a day
This segment will not age well. The unemployment is lower but full time jobs have decreased and part time jobs have increased. The rate of inflation is less than the pandemic of course but prices continue to rise at alarming pace plus increase of salaries are not keeping up. So no it’s not pretty out there.
Inflation is going down, but you’re not understanding what inflation is.
Inflation is the rate of increase.
If inflation comes down, it doesn’t mean prices are coming down.
A decrease in prices indicates there is deflation. That is much more serious.
Exactly - and anyone who thinks otherwise is not living the average American life. Groceries alone have caused a serious financial hardship for a LOT of families. I feel very sorry for couples with children. My grocery store bill for just two of us (adults) has sky rocketed and I only shop the best sales by literally going to two different grocery stores to get the very best sale prices. I can’t imagine what the high prices are doing to people with children. Both of my sons now have gardens to help offset their summer and late fall grocery bill. My one son has even hunted for his own meat to avoid the high costs of meat at the grocery store. I know now everyone can hunt a deer and like to eat venison, and there’s still a butcher cost to pay - but it does save money. Extreme measures are being taken to be able to put food on the table.
We’re getting back down much closer to a typical healthy inflation rate. It’s still slightly high but it’s much much better now.
U6 unemployment is a fair criticism. It’s been slowly ticking up the last 18 months, albeit only a tiny bit and is still at a quite low overall level.
@@marilynrybak9154"extreme" lol
This as Gaslighting at its finest. "We choose Truth over Facts"
Inflation is down. Let me fix the headline. Inflation still is high but not as high as it used to be.
The stock market is up. Again let me fix that headline. 65% or Americans don’t own individual stocks or have a 401k style account. So they don’t GAF if the stock market is up.
I could go on but I need to make lunch, which used to be a burger or sandwich all of the time, but now occasionally needs to be a $3 box of mac and cheese. Who ever thought the cheap powdered cheese, mac and cheese would reach $3 a box at your local grocery store? I didn’t. I am going to have to start buying the off brand mac and cheese at the discount grocery store or check out Walmart.
@@indiaandrews6996If you're bothered spending $3 for mac and cheese, you need a better job
Some interesting statistics about unemployment and the current job market that kind of squashes this videos take on jobs. The report that was just released this week says unemployment is at an all time low which is correct. However, they didn’t mention that full time employment plunged by a large percentage and part time employment sky rocket which means a lot of people are out there getting multiple jobs right now. The other interesting thing is that 43,000 of the new jobs that were just created are government jobs which means the government is propping up that number. It would mean a lot more if the jobs came from the private sector…
Oh yes, y'all just choose not to count jobs when it suits you 🤣
Gov’t jobs mean nothing! All they do is increase taxes on regular folk to pay those government workers
@@kbanghartgovernment jobs produce no useful goods or services. In fact, they tend to slow down the private sector with burdensome regulation
@@thedopplereffect00 good. I love big government
Here are the questions they shoud've asked:
- Is it cheaper to buy a house now vs 5 years ago? Is the rising price of housing exceeding wage increases.
- Is it more expensive to fill up your cart now vs four years ago?
- Does it cost more to send your kids to college now vs four years ago?
Does it cost more to eat out now vs four years ago?
Is the cost of healthcare exceeding the rate of wage increases?
Thank you for being one of the few people with a disagree who came up with reasonable counterpoints instead of appealing to emotions or just claiming to be gaslit.
People aren't basing these answers on their feelings, they're basing them on how much they're having to shell out daily just to live. It's a lot higher than before.
They’re not telling the whole story on this video
Rich keep getting richer at the expense of the rest of society. There, now you have it. 😮
I thought the same thing. This is the first time I thought the Ramsey Show is out of touch.
I can’t afford a 70k truck at 1% interest or 8% interest. I love my career. I get to help children all day but my career isn’t lucrative. I have cut back expenses because of inflation. For example, I don’t go out to eat as often. I eat cheaper food like pasta instead of beef. I look for the lowest priced gasoline when I used to just go to the closest station to wherever I was in town. That sort of thing. Basically, I have to watch my pennies now like a poor person. I am supposed to be middle class, which is supposed to mean I have a degree of cushion financially. That cushion is gone.
@@indiaandrews6996 How much do you make? For a 70k vehicle you should be making at least 200k per year.
@@indiaandrews6996
"like a poor person"? lol what a privileged comment. Whoever said you're guaranteed a lucrative career? You have to eat less beef and watch where you spend? oh NOOO!!! boo hoo. What a typical American comment. Do you have any idea what poor people do every day? people who are ACTUALLY poor have NO idea if they're going to even eat that day. They're the homeless, or about to be homeless.
Dave has an agenda
American grocery and household items are Over 50% More than Just 3 years ago!
Homes are 25+% More, And interest rates are Double!
The only part I agree with is that people keep spending and going deeper into debt.
You disagree with statistics? Good to know so that we can never take you seriously again.
@@jirehguy Not the numbers, but the interpretation and it's consequences.
@@taz24787 he said only and didnt include what you mentioned.
@@jirehguy read the book, How to Lie With Statistics. Then tell me if you would believe these numbers.
@@oneisnone7350 obviously you can manipulate how you articulate data to change how people interpret it. But they are citing traditional economic metrics that have been used as benchmarks for decades. You can have a genuine discussion on the quality of the metrics they used, but most people will cite them when their party is in power and suddenly discover nuance and poke holes when the political party they don’t like is in power. This is a movie as old as Biden.
I don’t need numbers I just see my wealthy, middle class & broke friends all complaining about the same thing. Not just food all items not small increase high spike cost. Gas same. Taxes up. Etc.
Yeah, your friends who probably over extended themselves by buying big trucks and boats and now y'all are crying
@@kbanghartcan you read?
@@katnez He's American, so probably not. Reading is hard for Americans.
By the way Katnez, you cannot possibly have "middle class" friends. The middle class hasn't existed in America for about 100 years.
I know you’re right lol I was gonna say that in parentheses not everyone’s aware of that most people are but like you commented regarding the other guy😂 or girl whatever it is
@@katnez can you cope?
Totally out of touch these two are. If things are going good for the economy, then why are companies all over the nation going through massive layoffs?
They should honestly be ashamed of themselves for making this video
I 100% wholeheartedly agree. The Ramsey team should be embarrassed with this one.
They were not wrong in anything they stated.
Which companies are doing MASSIVE layoffs?
Because companies prioritize making profits?
None of this means America is doing well. Times aren’t necessarily tough for my house but it’s different. We’re lucky to be in a good position during these times
You are. I live in a mostly working class neighborhood where families cannot afford $3 for a box of the powdered mac and cheese (which also is a smaller box than six years ago because of shrinkflation).
@@indiaandrews6996 which county do u live in?
A recession is 2 consecutive quarters of decline is GDP.
Q3 of 2023 went down from the quarter before that. Q1 of 2024 went down from the quarter before that.
So that's 2 quarters where they went down.
Wages suck compared to inflation and most full time jobs are offering $25-$30 only. It must be nice working for a $500 million a year company.
Then don't choose those jobs
Thanks for a constructive criticism isn’t of appealing to emotions like 90% of the commenters who disagree with the hosts.
Since May 2023 the population has gone up 1.6 million yet only 373k more people are working. 532k were added to the unemployed and 721k have been thrown out of the workforce entirely so they aren't counted. 100.5 MILLION unemployed people aren't counted in the stats now!
You’re telling me in one year, a third of Americans have become unemployed but not counting in the stats? Check your math
This video is a prime example of why the dislike number is no longer public.
Americans just love debt! It's the biggest addiction there is.
I'm violently allergic to it
I’ve seen people complain about their financial situation but get defensive when I point out that they’re spending $1,000+ every month on things they don’t need. Maybe try cutting back on those things? Starbucks, DoorDash, all those subscription services, and that’s just a start. I avoid the pitfalls of debt by listing every line item by priority, and needs ALWAYS come before wants. It’s always in the order of needs, retirement, savings and wants. Sometimes I do without the latter. That’s life
And most people really need to lower their expectations. If you can only afford to live in a rough neighborhood, then live there. And work your way out of that neighborhood. If you can’t afford to live in your current city, then relocate. That may require you to leave some stuff behind and cut your losses. Again, that’s life
@@Thurgor_Supreme are you debt free?
@@nicholasselke5214 facts but if most people had that mindset dave would be working part time or retired. lol.
@@Rashaadthegr8 Almost. Inflation grows faster than my mortgage anyways though (2.6%)
Professional grade gaslighting at the end - how's one supposed to respond politely? People's spending issues derive mostly from the fact that people are so disconnected and because people are in disdain for eachother. Especially because of diversity injections everywhere, people don't want to be generous anymore because that generosity has been abused, the list goes on and on. You're literally saying 'stay in your lane' when the issues at hand inpact everybody on earth "But your opinion doesn't count because you're not inclined to keep your toolbox sorted" - up yours.
The message here? “Yea you all are just imagining things! Everything is fine!” Yikes.
Dog drinking coffee while house burns down! These guys sound like elites telling us how to feel
Invest your money. You’ll be ok.
They need to stick to micro economics. They do not understand macro economics in the slightest.
@@jlava1575sure bro
The message is take personal responsibility for your situation and stop blaming others for your mess.
This video should be titled: Gaslighting 101...
Agreed! They are so out of touch with reality here in the ground.
@@marilynrybak9154nah you're just a pessimist MAGA.
@@marilynrybak9154 AMERICA is out of touch with reality. The real world kicked out the USA and laughs at the USA on a daily basis.
You should be called: copium
You are just mad your political agenda has been exposed. I invest in the stock market. Yes, stocks are way up, unemployment is way down,. inflation is not as high anymore. How do I know? I was paying like $4 for eggs at Walmart last year. I just paid $1.29 for the same eggs. Facts over feelings. Also, I was paying $4.44 for gas in TX last year. I just paid $2.99. Facts over feelings.
Nothing about gas prices? Rent? Utilities? How does Dave actually feel about using these numbers from the Government?
Even rent has gone out the roof. Look at how many homeless people America now has!
Does anybody else in this room feel like these two are in a bubble outside of reality? This is gaslighting.
No they live in the same world we do! 🙄
Not gaslighting exactly, but cherry picking. When the average salary can't afford an average car or home, something is wrong. When inflation is up 20+% in 3 years, something is wrong even if this month it is not. Great empathy guys
Yes. I am actually shocked by this video and information they “think” and are passing on as though people do not know or feel what’s actually happening. We all see our finances /paychecks being eaten up with high costs of EVERYTHING now- for the past 4 years!
The whole USA is a "bubble outside of reality".
@@greggpurviance7252lol on all these videos I see comments from people claiming how much better they are financially than the caller, and then a video like this pops up and y'all cry that you have no money 🤣
None of those things make reality any better. My house was a blazing inferno but now it is just smoldering ashes...that's good right?
This is astounding, the full-time jobs everyone has are paying $15-$17 an hour but require degrees or 5 yrs experience. My husband and I are debt free, fully funded emergency fund, and make $100k but wouldn't get approved for a home (not that there is one we could afford anyway). No, this is not fine.
"Recession" is a trailing label. We could be in a recession right now and not know for 6 months
The birth rate has plummeted and is set to only get worse. That is gonna have a major impact on everything.
Lower birth rate means higher demand for workers as the aging population needs more services
Our education system failed our children for the last 30 years, it is unbelievably depressing interviewing people that attempt to act smart.
Where’s the interview? It sounds like you need an education, sir.
Something isn't making sense regarding inflation. Using official data, I added up all the inflation over the past 4 years, and it comes out to +18% total. However, since 2020, my auto insurance has doubled, my home insurance has doubled, my HOA dues have doubled, my gas/electric has gone up by about 50%, internet has gone up by 20%, and groceries/restaurants have easily gone up 50% during that time. Almost all of my essential expenses have gone up 50% to 100% in 4 years.
Exactly! Same here! Before 4 years ago, I was doing extremely well financially. Now- pay check to paycheck and unable to save any money regardless how hard we are trying. I’ve never been in this situation in 50 years. We have cut back on EVERYTHING possible. No more eating out, never turn on electricity unless necessary at that time, barely move the car- but do so only when necessary to get to work and grocery store, do joy buy any extra things like clothes or shoes, have had to cut back on gift giving which breaks my heart because I have always been a kind and generous person, have not had a vacation in 4 years, and generally work, go nowhere, shop best food sale prices as possible, pay all bills without getting behind - and am extremely thankful I saved up a nice nest egg (for retirement) before the current administration was elected into office. I use to always be able to make my bills, save money and do things like go out for dinner once in a while, take a vacation once per year, buy a new pair of shoes and outfit once in a while, and have money left over - to donate to non-profits, church, etc and save money in my own account. Not now- we barely make it pay check to paycheck and am still looking for ways to CUT spending. I’m tired of living like a hermit and not being able to go out and spend some money to do something I want to do. This economy is absolutely ridiculous and is hurting most Americans. Wake up and smell the coffee, please.
Because the numbers and info they are using is 🐂💩
They manipulate the "basket of goods" they use in the calculations to they get what they want
Because they are using cpi to measure inflation which basically only measures the cost of inflation in groceries not actual cost of living…. Cpi is calculated my taking a basket of groceries prices from the year and comparing it to the next year.
We have less income because everything costs so much more money!
They have changed the definition, as well as how they measure a period of a "recession" over time and I think this is where people have frustration with the Ramsey team. It is easy for you guys to sit up there and take the government narrative of we are not in a recession and point fingers at everyone else for being "wrong" after googling the word recession and not adding any extra context. I believe the figure that I have seen, if they measured it by the same way when they FIRST defined/measured the word recession, was near or over 20%. +/- 5%. You guys are naive.
Also when they change how they measure "recessions", they do not go back and recalculate the old numbers to the new definition, or way of measuring, a "recession." They just change how they measure it then add it to the charts that they already have. Essentially they fudge the numbers to get what results they want, so that you dorks can sit up here and try and convince regular people watching your show that everything in the grocery store hasn't gone up 20% in the past couple of years.
No food is more expensive car insurance has gone through the roof and credit card debt is off the charts 😮
If America valued diplomacy above violence and war profiteering, the petrodollar wouldn't have officially ended this week.
If the US was respected around the world, it wouldn't have ended. If the US was a leader instead of a laughing stock it wouldn't have ended
If by America, you mean the warmongers in government, then ok. If you mean the vast majority of the population, then you're mistaken. Most Americans are sick & tired of war, don't want our resources going to Ukraine, don't want a fight with Russia. Most people don't want death. At least no one I've ever met in this country, regardless of political view.
If America was respected in the world the petrodollar would still be a thing
Q1 and Q2 of 2022 were negative GDP growth, signifying the start of a recession. Have we exited recession yet? Based on the Fed being unable to tame inflation and $1.5 trillion annual deficits as far as the eye can see, I'd say no.
Funny how they think those numbers mean what they say.
Let me guess, as soon as Trump is president again, the numbers will suddenly mean what they say?
As smart as you two are, I cant believe you are using the governments numbers like they aren't manipulated and they haven't been moving the goal post. You trust your government way too much.
That’s because they have a lot to lose when it crashes
As smart as you are I can’t believe you got enrolled in the Trump cult.
@@ulf5738What would you call a parent that gives their young child puberty blockers or says a 3yr old boy is now a girl. Would you say they're part of a cult because they believe they are doing the right thing?
@@TM_StoneYou went the extreme MAGA way faster than I thought. Hope your brain heals fast. ❤ from Europe.
@@ulf5738 TDS
This is gaslighting and incredibly insulting to your audience
Nah it's just insulting to MAGA, which is awesome
You don't like facts I guess
Correct! I have stopped listening to the Dave Ramsey show because of this episode of complete garbage.
@@marilynrybak9154 what's garbage about it?
This is like a democratic party ad 😂
The party of facts? I'm good
Vote blue
Did you just admit that your side doesn’t use facts?
@@kbanghartNo. Vote red.
@@laundrygoddess4WRONG
‘The federal reserve is doing their best to
Make you rich , that private bank is on your side ! You just happened to screw it up…’
Oh brother ..😂
I can’t believe a govt that borrows
$34T can make the stock Market go up ? Unbelievable
This episode will age like milk outside on a 100 degree day just like those from 2021 when they were scoffing at people concerned about inflation telling them to keep renting if they couldn’t buy a home with 20% down, a 15 year fixed and less than 25% take home pay monthly payment.
There isn’t and wasn’t enough houses for sale anyways for all to buy. And some people can’t afford to own a home.
Why will it age badly if they are just stating what the facts are. When are facts a bad thing?
@@TruthFLAbecause they aren’t facts.
Well they also said the housing market wouldn’t crash and three years later prices are still high so they did get that part right
@@TCR2025 which parts specifically are false?
I heard inflation has slowly been rising the past few months. Nothing major, but not going down.
Their condescending tone is unreal. wtf
Keep in mind that inflation the 1st derivative, change in inflation is the second derivative. Inflation is falling but that doesn't mean prices aren't increasing.
Correct.
Sorry but I think people were asking, "How is my house doing" when answering these questions. The official stats are meant to gaslight us.
All the while most of them continue to run up their credit cards on things they don’t need. As soon as someone complains about how expensive everything is and I see something like Starbucks in their hand, I start to tune them out
NEVER borrow money for anything you don’t need. There is zero possible way for that to not be idiotic
The metrics were changed, again, for the unemployment numbers.
Isn’t government spending like 25% of the GDP?
The definition of recession was recently changed during this administration, so if you go with the traditional definition before the recent change we certainly are in a recession.
There’s a lot of crap mixed into the numbers:
- Inflation being down just means prices aren’t rising as fast as they did … BUT prices are still up, especially with groceries and gas - things we rely on a daily basis
- Unemployment may be low, but most people working are underemployed… 50% of college grads are working high school level jobs, and a lot of people have to work more than 1 job to keep up with costs.
- We aren’t in a recession, BUT, people are going further into CC debt trying to make monthly payments on their normal expenses. This is not sustainable and will lead to many people going broke.
These are facts. The economy may look good on paper, but just under the surface is the real story of Americans struggling more than ever.
Not being able to afford basic needs and housing is real!
Ramsey team taking every opportunity to bash gold, very suspect imo.
Saying inflation is decreasing is like saying you aren't falling any faster because you already hit terminal velocity.
Do you want deflation? Most neoliberal economist think deflation is worse than inflation.
@@jirehguy yes, deflation is actually a good thing. We've been propagandized for over a century that industrialization and automation which makes our lives easier is "bad" so the government printed money to make the efficient economy less efficient.
For example, no one would argue that only paying $200 for a super computer that fits in your pocket today is a bad thing, yet some how that's bad for other consumer goods?
@@thedopplereffect00 good point.
I don’t believe these stats, I believe the prices, interest rates, etc that I experience every day. Things are not better for the average person period
And that is the problem. People don't believe facts and numbers. It's ridiculous. The arrogance....
@@WhatIsThis-zq4hkInflation was 0.5% last month alone. That's over 3x their own target
Inflation is always and everywhere a monetary phenomenon. Price levels increase when too much money is pumped into the economy due to excessive credit demand. Money printer goes brrr during pandemic and after, surprised Pikachu when inflation goes up. Also inflation is way higher than reported rates because they no longer use a fixed basket of goods.
White House spokesmen.
What matters is that the middle class is shrinking, and has been for years. What matters is that median personal income, or even 10% more than that, is less effective in buying a home anywhere near the median home price than it's ever been. Everyone feels that and they're gonna potentially vote in a way that you don't like because of that. Politically, things are going to come onto the table that have previously never been on the table
The middle class has not existed for about 100 years dude
The middle class did not meaningfully exist prior to the 1930s. The heyday was 1945 till 1975 roundabout. Economic injustice and incoherence has caused it to shrink in the US, and select other countries, ever since.
@@rickm6076 If the middle class did not meaningfully exist prior to the 1930s, then the middle class has NEVER existed because it certainly has not existed after then.
Hmm... What happened during the mid 1970's to the $? 🤔
I knew a recession was coming since 2021... In fact thats how i found out about Dave Ramsey 😂 the government literally changed the definition...
Nah bro, MAGA did that
@@kbanghart GTFO here with that. Democrats and Republicans are both at fault. We need to sweep the whole government.
1. The current administration changed the definition of a recession. Based on the old definition, we recently went through two consecutive quarters of declining GDP.
2. Inflation is currently 70% higher than it is supposed to be. And we just experienced four years of hyperinflation.
3. Stock market has grown roughly 26%, but with inflation being 20%, we've only experienced 6% of real gains in the past 3+ years.
4. Unemployment is low due to a high number of retirees re-entering the workforce due to high levels of inflation. Unemployment being low does not account of the youth who have not entered the workforce - and if you have never entered the workforce, you are not considered unemployed.
5. Labor force participation rate, which was not mentioned here, is still lower than what is was before the pandemic.
Please enlighten us with the old definition and the new definition and where you found these definitions from.
"In 1974, economist Julius Shiskin came up with a few rules of thumb to define a recession: The most popular was two consecutive quarters of declining GDP." - Forbes
The Biden administration and the U.S. Bureau of Economic Analysis refuted this even though we had two consecutive quarters of declining GDP in 2021-2022.
@@bradleymaravalli2851 We don't live in 2021 and 2022 though. That was the last time we were in a recession. No one can change the definition of recession. It's an internationally recognized term that one admin can't just change.
@@bradleymaravalli2851cool bro, you go ahead and live in your recession, leave the rest of us out of it.
America has NEVER seen hyperinflation. You Americans don't even know what hyperinflation is.
Inflation is still increasing, its just not increasing as quickly as before.
Someone doesn't understand what inflation is
@@lepoj Inflation / Deflation is how much prices rise or fall. Last quarter they went up +3.3%. That's a positive number meaning inflation is still rising. The number needs to be negative for deflation.
@@lepoj Give me the inflation rate for January 2021 - January 2023 and then the rate for January 2021 - May 2024. Did inflation increase or decrease?
@@kleindropper I replied to the wrong person. My bad. Calm down
Inflation is by definition the RATE, which is decreasing.
Wow..inflation is lower. Prices are only rising at 3.4% month to month (With inflation average prices have risen 30% since 2021) meaning your annual pay needed to increase by 30% to equal your spending power in 2021...almost all of us are worse off!!!!
Inflation between January 2021 - May 2023: 16.26%
Inflation between January 2021 - May 2024: 20.07%
This is what people mean when they say inflation is increasing.
BTW totaI inflation under Trump (January 2017-December 2020): 7.26% for comparison
Inflation by definition is an ANNUAL (yearly!!!) rate. By the way your stat shows inflation has gone DOWN since May 2023 and May 2024.
I havent bought soda in over 5 years but last week I was feeling it for some reason. I could not believe how much it costs now. A 12 pack of coke is $10!! I could've sworn you could buy a pack for like 4 bucks before COVID.
Worse ... my household has had wages increased and is still doing MUCH WORSE
Thank you!!! I was so worried that my bills and costs were going up. But I know I'm just seeing it wrong. Thank you Mr. O'Brien.
I know, must be all in our heads!🙃🤪
Recession "You keep using that word i do not think it means what you think it means" - Inigo Montoya
I got them all right, except I have to disagree with the last one although I answered decreasing. Insurance rates are going through the roof and food prices are ridiculous.
If you can master ignoring all the products constantly being marketed to you, you can do ok financially. The problem is how much insurance, groceries, utilities, and gas are. They pretty much drain all the money you are trying to save.
The idea that Americans are only believing the media and need to ask how their finances and house are doing is the first time I thought this show is out of touch. I live in a working class to tiny bit of middle, upper middle class valley with about a half a million people. Most people’s households aren’t doing well financially and they aren’t blowing money on lavish lifestyles.
BTW Ramsey Show, they aren’t out buying 70k trucks. They can’t afford them. Period.
Lol what? People ARE buying expensive trucks. Why are you so out of touch?
Yeah, everything is awesome. OK.
Exactly! They likely make substantially more income than all of us combined and are clueless as to how the high costs of everything over the past 4 years has caused major financial woes for so many Americans. I know so many people who use to be able to save some money every month who are NOW literally living pay check to paycheck.i know people who have to decide between doing laundry or buying food for the week! Hard choices are being made. And, the saddest thing is many people are now forced to charge food and other necessities and pay bills like electricity using their credit cards!
What alternate bubble is there where unemployment is some how high? Every business, school, gov. department is desperately low on people. Just show up every day, sober and not high, and have a job. OMG where is this world where there are more employees than jobs, because I am exhausted here, working overtime covering all these open positions.
What is the pay though, is it higher than just being on welfare or taking some drugs to get on SSDI? In my state an unmarried couple can net out nearly $100K in welfare benefits by not working.
If inflation and unemployment numbers weren't bogus, people would feel differently
The Fed didn't have to increase the interest rates. They did it as an attempt to push down inflation. However, higher interest rates affect consumer demand and borrowing, but the inflation was caused by the supply side. So, they used the wrong tool, but it's one of the few tools they have. The Fed can't directly address supply side inflation. Although it may have helped a little, but it was obvious to me from the beginning that inflation wouldn't be transitory and would be sticky. They finally addressed that at a recent fed meeting and acknowledged the mistakes in their past assumptions. So, all they did was make it unnecessarily expensive for people like me who had to move recently and am paying and extra 800 a month in interest and for people and businesses who want loans.
"Groceries are cheap and you're crazy if you disagree"
Timestamp?
That’s not what they said at all lol
@@shionajoseph3248 these monkeys brains turn off when they hear evidence that goes against their points
@@jirehguy That's how the brains of ALL Americans work.
@@amireallythatgrumpy6508 tru
It's not addicted, people are taking credit card debt to pay for the necessitites
How much of that "spending" is on credit? Is that nominal or adjusted for inflation? How much of that spending is proportional to people's income/wages? How has the cost of living changed for average people? This is what people "feel". People don't feel GDP.
I have 20 years of experience in Marketing and 6 years of Estate Management experience, a bachelor's degree and 36 graduate credits, and many additional skills and I can't find a job. I'm not even getting interviews for positions that pay poorly. The good news is that I don't need one but if I did, I'd be in trouble. Anyone who's in the real world knows that the economy is not good, regardless of the way the numbers are presented. You guys need more diversity on your team in terms of age and marital status. My father's house sold 6 years ago for $490K--which was $70K above asking--and it's now valued at $750K. I bought a sandwich at Panera Bread the other day that cost $15. When I buy groceries for one meal the bill is typically around $60. I'm in a Midwestern town of less than 300,000 people, btw.
Inflation is still INCREASING, but it’s not increasing as fast. Prices are still going UP.
Prices are ALWAYS going up. That's how inflation works 🤦
Inflation rates are going down. That's doesn't mean prices go down.
No. Inflation is by definition the RATE of increase. It is dy/dx not y. Which is going down. Take a calculus class dude.
@@lepoj It’s 100% false that prices ALWAYS go up. Ever heard of DEFLATION? It has and can still happen. Inflation is still rising too fast, which is EXACTLY why the Fed is refusing to cut interest rates.
Median personal income is barely 41,000. That's not a whole lot higher than where it was 15 years ago, forget 5 years ago. Not everyone makes 25% above the median, by definition, and not everyone has a spouse able or willing to have a similar or better income. You have to use the median personal income, which is barely 41,000, to understand. Otherwise you are confused. You don't understand. So, median personal income relative to other median costs is your question, and it's horrifically bad. Unbelievable almost if it werent so real
Take spending categories as % of income. That will tell you everything you need to know. We are driving fast towards a cliff edge.
Saving are low, debt is high, cost of goods is increasing exponentially, housing is out of reach, medical is way up, food is way up, cars are way up, flights are up, entertainment is way up.
I am freaking out! Why am I dumb for being concerned about my grocery bill? I’m living debt free (except mortgage) and everything is getting so tight. I’m watching things go up and up and up. I’m not borrowing. My home and marriage is great. My grocery, gas, and utility bills are crazy!
Get a better job or a second job
@@Yogastrong908 you’re not wrong about that…
The real message is that the “economy” is thriving at the cost of people suffering. Eventually there will be a tipping point where when nobody can afford anything outside of the basic necessities, nobody will be buying Teslas, MacBooks, etc. and the “economy” can’t survive without consumers.
Yes- and it is by design! Go visit Cuba or Venezuela and tell me how you like it. That’s what “they” want for our country.
The credit card debt is insane. But the real gem here is how he said the news is directing peoples emotions, causing them to spend more.
Inflation has been stagnant since January. Meaning unacceptably high
The economy sucks !!!
Q3 is not correct. Before covid unemployment was at 3.4% but now it's at 3.9% down from covid times but still has not recovered! and q3 the cost of stuff is very high, over 22% average!!
Imagine believing the cooked numbers from this admin.
That’s what these two are doing
Imagine believing anything Trumps says
@@ulf5738imagine believing any of them. They all lie.
@@ulf5738imagine believing any of them
@@ulf5738they all lie
Inflation is at 2%, but prices are still damn high. Prices are never gonna go down cuz thats how economic work. All you can expect is to wages to go up fast.
Inflation is not at 2%
The official CPI data shows 2% for just the first 6 months of this year, which means it's probably going to be closer to 4 or 5%
Such a patronizing video. People are still seeing the effects of post pandemic inflation and it will take a few years to adjust considering inflation does not go up again.
S&P 500 has set new recod highs... Let's talk about the bubble that's about to burst.
Inflation is coming down... Let's talk about how new math and monthly adjusted numbers are not an accurate grade of Inflation.
Spending is up... Let's talk about the way we are progrmmed to spend borrowed money on things we know we don't need.
The CP...LIE does not account for energy and food!
Because those two things are insanely volatile? You can't get an accurate number on something that changes at a drop of a hat.
@@lepoj why is it insanely volatile? The it is insanely volatile answer is not a good enough answer for the american people.
@@jonasyracheta2185 remember when egg prices sky rocketed because of a bird flu? They're no where near that high anymore.
Remember when natural gas prices skyrocketed last year and now they're back down?
Oranges are more expensive right now due to a disease but those will come down eventually too.
@@lepoj but why is it so volatile? Answer given is just explaining the obvious. I can say cocoa is volatile too and just dismiss it at that. But why are price discoveries so insanely volitile? Consumers, seemlessly track the costs but it is so complicated for government to track it....yea right?! Is the current CPI formula truly accurate?
@@jonasyracheta2185 Are your reading comprehension and critical thinking skills that low? Let's try it this way then:
Bird flu = less chickens
Less chickens = less supply
Less supply = more demand
More demand = higher prices.
No more bird flu = more chickens
More chickens = lower prices
Those acts of God can't be predicted and throw food and energy prices in all directions at *much* higher rates than everything else. These changes can last a few weeks, months or years. In other words *volatile*.
Instead of just blindly hating everything, try to educate yourself first
The unemployment figures are skewed due to people who have removed themselves from the job market and people working mulitiple "gig" jobs with no benefits. They were clear about the inflation, the RATE is falling at which prices are still RISING. So inflation continues, but is slower.
And still 2x to 3x more than it was 4 years ago
Should i try to be saving as much as possible while paying a mortgage or should i be putting every bit into payments?
2022 was so bad that people think everything is still bad. The average american doesn't give a shit about whether we're in a recession, the stock market, unemployment rates, or the rate of inflation. They'll answer any question about the economy based on emotion and how far they feel like their dollar is going. How much did my rent go up? How high are gas prices and grocery prices? Can I pay my last doctor bill? These are the questions people use to determine how well they feel like the economy is doing.
So the fact that we pay more for things, literally, is based off…emotions?
You’d have been better off just not commenting.
@@PepeToTheMooon, I'm saying that the way people will answer these questions is based off emotion. You're kinda proving my point; we're all paying more for things so that means that the answer to these questions is that the economy is doing bad?
@@meanpie13 it’s not based off emotion. It’s based on the fact that people are literally paying more money. That’s the biggest problem, being told it’s just being based on feelings constantly when your dollar is worth less and less every year.
@@PepeToTheMooon the point is, how far your dollar is going doesn't give you the answer to those questions, but people use how far their dollar is going to come up with their answer to the questions. That is literally the entire point of this video.
Also, the January 2024 yoy inflation was 3.1%. Every month after January has been higher than 3.1% so using your own biased metric, inflation is also increasing (again)
Dave is gunna be like "who the fuck thought this video was a good idea?"
Dave WOULD think that. He's constantly shilling for the Democrats.
They need to stick to micro economics. They do not understand macro economics.
Inflation question is misleading. Rate lower, but still rising.
The American dream is Americans saving enough to retire in another country