THIS Is What Caused Inflation! - Dave Ramsey Rant

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[@chonkyb3134]

What about $6 Trillion dollars printed, not created by any production of goods or services, but printed !!!! ?

[@gregkortbein5108]

8 trillion I believe.

[@pamcornelius9122]

EXACTLY RIGHT.

[@dansdrumchannel9239]

My thoughts as well, you didn't have to be an economist to see this coming!! Maybe we're fortunate it's not worse.

[@darylfoster7944]

I read $7T, but what's a trillion, give or take? It's all Monopoly money to the Congress critters.

[@SonnyBubba]

“Whataboutism” has been a popular idea from the Soviet era. Because you will go around in circles and never be able to understand a problem.

[@herbiehusker1889]

The reason for inflation is money printing.

[@Jason-Austin]

Central bank bond purchases are *not* money printing. When central banks "print money" to buy government bonds they are just performing an asset-swap, trading liquid bank reserves for liquid Treasury debt. Real "money printing" would be mailing every household a brick of $100 bills every month. In other words, if the "printed money" never gets into the hands of consumers, its effect on inflation will be trivial.

[@robertbrown1021]

Greed or Love of Money is the issue.. And it's going to destroy us one day.

[@DerickJordanDJ]

I think y’all should focus more on earning money from investing in crypto currency

[@JP-uy9kq]

@@Jason-Austin it has gotten into the hands of the people, through cheap credit.

[@insideoutsideupsidedown2218]

​@@Jason-Austinthey did not send every household $100 bills every month. They sent thousands of dollars to certain households multiple times.

[@fauxbro1983]

Federal lending rate has been near zero from 2008 to just about last year. All the "cheap" debt flooding they system caused it. Giving prospecting home buyers the ability to by a $500,000 dolar home making only $45,000 a year was a bad idea.

[@ElectricBlueIX]

Nobody making $45k a year gets approved for $500k house.

[@gonzaga45377]

My 23 tear old son just got approved for a $342K mortgage making less than 50K per year. That's ridiculous!!! Have no idea what the interest rate was but I am sure it was at the upper levels. He decided to move home for a year to save money.

[@mcleananderson4948]

This, people don't realize our economy was artifically inflated for 14 years. It had zero to do with who was in office. If interest rates are that low, it's going to pump. Couple that was covid stimulus/economic shutdowns=inflation. It's a multifaceted issue.

[@Goodchicken_lameducks]

What is ridiculous is the fact that the home is worth 500k to begin with. 10 years ago that home was worth 180k and now that isn't so ridiculous for a home making 45k per year to afford that home. Salaries and wages have not increased with the costs of homes at all.

[@seanconti1696]

@@ElectricBlueIX at 3% interest rates was approved for 240k making 45k with a credit score of 750.

[@tcgtpl]

Remember when Mr Ramsey said inflation was not a big deal? Pepperidge Farms remembers.

[@amireallythatgrumpy6508]

And it still isn't a big deal.

[@dmarshall5148]

No, but I remember when he predicted to Rachel Cruz in late 2020 that we would see inflation comparable to the late 70s and early 80s

[@pinkchastity]

@@amireallythatgrumpy6508 just because it isn’t in your world doesn’t mean that’s true for majority of Americans which is 68% that work two jobs and 60% that live check to check. This why we don’t get anywhere because y’all only see things from your point of view not the majority. Then when it hits your family or you now all of a sudden it’s a issue.

[@amireallythatgrumpy6508]

There is only one world. My world is the sane as yours. What hits the majority is stupidity and delusion.@@pinkchastity

[@FrankS111]

What caused inflation? 1) money printing 2) crushing domestic energy production 3) policies that encourage people not to work thus driving up labor wages and reducing the production of goods

[@amireallythatgrumpy6508]

And many other events.

[@christophergill871]

Biden and the democrats

[@Dan16673]

Its excess credit, always

[@JasperSteve]

Blame the outrageous spending by our government as well.

[@eflvin]

Exactly

[@n1ckf00c]

Companies have been making record profits yr after yr since 2011 by raising costs for consumers without equal raises for thier employees. That is part of it too.

[@kelleep535]

This

[@jordanmadden7388]

This is not true. Companies have been making record profits every year (didn’t start in 2011) because inflation happens (generally) every year. The % growth in profit remains relatively the same YoY. Wage increases also generally outpace inflation, although this has not been so since Covid.

[@Bigbilly-ms9bn]

​@@jordanmadden7388their profits have far exceeded inflation rates.... Years in a row.

[@rebeccalindley153]

@@Bigbilly-ms9bn It depends on the companies. I see lots of companies going bankrupt, but they aren't the billionaires who profited off of the covid scare. The few at the top aren't all the companies.

[@pinkchastity]

Exactly most jobs in my state I see paying 15 an hour and that has been a standard way before Covid even was thought of! And then they are short staffed because they want to save money on labor. Which puts strain on workers. They act like they don’t get it but they do. They just don’t care is all.

[@stinkysocksstudios]

I hope Dave is not implying that the entire reason for through the roof inflation is the minimum wage protesters. That’s just a symptom. Frivolous Printing money and taxing the same dollar in numerous amounts and moving all businesses to other countries is the main reasons. This show gets more disconnected every time I try it again.

[@Lonovavir]

Curious how the estimated 40% increase in the money supply didn't get mentioned.

[@Leafninjaninja]

I think he was just answering based on the context the person was asking for

[@chatanp]

I think Dave underestimates how many people out there don't care to work, and would rather keep getting free Trump-Biden bucks. My parents owned a hotel through the pandemic, and 90% of their maids QUIT (not got let go), because it was more profitable to just stay home. And when the free money train ended, they did not want to return to work...

[@DerickJordanDJ]

@CindyGuzman-xl5ui Honestly that’s a good advice

[@DerickJordanDJ]

@CindyGuzman-xl5ui Do you know a professional investment advisor

[@theslowevo9303]

McDonald's made 13 BILLION in profits last year. God forbid they take a small chunk of that to pay their employees a good wage instead of passing it along to the customer.

[@johnsteffen4792]

quit buying McDonalds, Profits will go down, stock price will fall, executives will layoff people , more people will look for work, more workers than jobs, labor will go down in price because people have debt to pay. That is what is about to happen. Viscious circle

[@24collin24Collin]

IRS needs to limit business write offs for people who make over 1 million, that would really discourage tax games all these executives get away with. It would also discourage handing out 5 million dollar bonuses.

[@BabyGators]

They didn’t take that money at gunpoint. As a whole, consumers were dumb enough (many of them without the real means to afford to) to spend that much money there for a $8 burger.

[@theslowevo9303]

@@BabyGators Taking care of employees should be job #1.

[@rhaythe]

I don't disagree with your sentiment. Businesses should not try to abuse their labor force. However, I do believe it's up the worker to ensure him or herself a "good wage". If your employer doesn't compensate you fairly for your labor, then find a new employer. People like to settle where they are. But any business' first objective towards labor is to get as good a workforce for as cheap a price.

[@spatty2589]

The caller didn’t say he couldn’t afford to give raises, his concern was in raising his prices. Instead of providing the “cheapest service” at the cost of your workers offer fair prices and pay fair wages!!! Who here wants to work for minimum wage ($7.25)? So you pay more and get consistent staff.

[@TheForever206]

So are we just not going to mention the absurd money supply? 🤨

[@Feelsbad1]

Why would he? He's part of the problem.

[@KCkoolaidking]

it amazes me how many people dont know inflation is always caused by the increase of money supply. Seems odd that dave is being intentionally ignorant.

[@TheForever206]

@@user-iq3sn4wb5y where did I ever say anything about receiving stimulus?

[@Feelsbad1]

@@user-iq3sn4wb5y You're right about checks to single people. But when you have PPP fraud, buying cars, houses, and yachts, there's a problem

[@6729solarwolf]

Ssshhh stop talking about the money printing and free checks. They don't want to wake up the people

[@blackspiderman1887]

Yes but cost of rent has gone up dramatically. It would be foolish for someone to accept a $10 an hour job. Other utilities you can' cut back on but you need a place to live

[@WarriorsPhoto]

Yes 🙌! We all need a place to live. How bad is the increases where you live?

[@aja23136]

This 100%. Not to mention people are living with their parents until they are 30+ now and parents are tolerating their unemployment. They might be a bit more motivated to work if they can afford their own place. It’s pretty messed up when you think about it that we categorized housing as investments with the expectation that it always goes up. The one basic need that humans require to not be homeless. It’s a completely unsustainable system that will crumble as soon as a generation has significantly less children which seems to be coming.

[@unelectedleader6494]

The answer is always going to be for you to cut your lifestyle. It could very well end up being you should just live in a tent in your moms backyard. At least you’ll have your own place of sorts and not her basement. I’m not joking. And that’s why these characters increasingly don’t understand what’s happening, politically, or why. The answer is always you. You cut your lifestyle. It’s you you you. And that’s just not right. It’s just not true.

[@chookchack]

That supply chain crisis created the housing shortage thus the surge in house prices and rent. Its how this admin handled the situation.

[@blackspiderman1887]

@@WarriorsPhoto before covid you can get an apartment in a nice area for $1,000 a month. That's same apartment now is $1500.

[@ianklein3045]

Couldn't possibly be corporate greed.

[@normandy2501]

Because we all know that McDonald's doesn't make enough every minute to afford a $10 pay increase to keep yourself alive to even show up to work. If you can't afford to pay people you need to work so you can afford your boat vacation, then shut down the business because it doesn't deserve to survive. Of course you can't get people to show up...

[@joeyr1996]

Well Dave you’re partially right. But here is the thing - if it’s all the laborer’s fault, then how come profits keep going up for these large companies year over year while the average person’s buying power stays the same and wages stagnate for years? Using your logic and the model it creates means that we are watching the middle class deteriorate right in front of our eyes, and we know that, but it’s definitely not the company exec’s faults. We both know that model long term is not sustainable, yet you preach this because you’re a good man in charge of a company and can’t seem to fathom other CEOs may not be. They never take the hit, it’s always the working class.

[@blackspiderman1887]

This is correct. Every major business were making record-breaking profits. And that's after they began increasing wages they still were making record profits. So that really shows that the wage increase did not affect their bottom line. But they are just too greedy to share the wealth

[@John3.36]

@@blackspiderman1887 Record high profits because inflation is record high.

[@mcgritty8842]

⁠@@John3.36the fact that they had record high profits, not sales, is due to greed.

[@blackspiderman1887]

@@John3.36 no. If they only increased prices due to wages then their profit margin will stay the same.

[@jlava1575]

@@John3.36 false. These companies were making record high profits before the pandemic and massive inflation. But even more profit after the massive inflation. It's just now more of a coordinated attack to drain the lower-upper and middle class of any wealth they have.

[@irishchocolate3872]

My company just gave me a 3% raise. About an extra 25 cents. A slap in the face.

[@meganandmichaelrodriguez8874]

I remember my first raise back in 2016. 3 percent which ending up being 42 cents. Chump change.

[@94sunset196]

.55 cents here, yay!! Instead of one stick of gum, I can buy two sticks of gum. Horseshit.

[@smokinhalf]

My company gave us 3% this year also and patted themselves on the back for doing it. They called it a merit raise.

[@jameswalker590]

that would mean you made 8.33? Where in the world do you live and what job do you do for that? Are there not many other places hiring that will pay more? I realize some min. wages are 7.25, but I would think places would have to pay more than that to keep people. I live in one of the lowest cost of living areas in country and I made that 20 years ago.

[@jameswalker590]

seriously, if you have a Cintas around you, look and see if they have jobs available (I bet they do, or will soon). You could pretty easily get a production job likely starting at double what you're making now.

[@wtk6069]

If we had a balanced federal budget reinforced by mandatory prison times for any politicians who disobey it, then our dollar would still be worth three or four times as much.

[@anthonyfalco2462]

It should be a federal offense to take advantage of the tax payers money, it's a federal offense to mess with mail so you should figure tax dollars would be more prison time

[@gustavocervantes154]

Would love that. Politicians will get there act right

[@mtbokor1969]

When have we ever had a federal balance budget. I agree that the federal government shouldn’t spend more than it takes in. I’d also argued that it’s a fallacy that a federal balance budget would lead to a more prosperous economy.

[@slhines7]

“Inflation” occurs when the creation of currency outruns the creation of real wealth it can bid for… It isn’t caused by price increases; rather, it causes price increases. Inflation is not caused by the butcher, the baker, or the auto maker, although they usually get blamed. On the contrary, by producing real wealth, they fight the effects of inflation. Inflation is the work of government alone, since government alone controls the creation of currency." - Doug Casey

[@LyricalTampon]

This is just objectively not true, and no amount of anarcho-capitalist weirdo quotes will make it so.

[@gratefultrucker7781]

Big facts.

[@insideoutsideupsidedown2218]

That would be Doug quoting Milton Freedman

[@amireallythatgrumpy6508]

You're only identifying the direct cause, there are plenty of indirect causes

[@BabyGators]

@@amireallythatgrumpy6508 exactly. Consumers are spending ungodly amounts of money, make that borrowed money on nonessentials. Basic supply and demand.

[@garyclark979]

My wife and I responded to inflation by doing more of the work ourselves that we once would have hired someone for. We also go to restaurants far less than we did.. We went debt free just before the pandemic so inflation for us is primarily the increased cost of food and energy, which have skyrocketed. We will survive the stupid actions of our government.

[@enmanuelamparo2168]

The tragedy about this video is the listeners and viewers who actually belief the nonsense he spewed. Yes lets blame workers for asking higher wages which have been stagnant and blame them for it. Give me a break, noticed how he never mentioned all the billions of dollars companies got during covid and they still did mass layoffs, while at the same time the CEOs made millions in pay(please save your "but CEOs are getting pay what they deserve,they make the company profits", nonsense ,stop being conditioned by these people who provide cover them). Workers are not ants who collect crumbs . Its about time, they ask for fair pay

[@markf.2050]

Corporate greed is also real and "inflation" is often used as a reason to overinflate prices. Do you hear CEO's complaining that they personally can't make ends meet? No, they are doing better than ever. Their corporate profits went up.

[@chazzkramer7676]

I'm sure that Dave feels like he's completely covered the topic in just under 9 minutes! 😅

[@chazzkramer7676]

That was sarcasm, for those literalists out there!

[@Maxrotor1]

How can you blame inflation on frontline workers and not also hold rich guys accountable? I didn't see many CEOs taking pay cuts.

[@patglenn7762]

Because it's basic math. Hypothetical.... You have a corporation. 1 CEO gets a million dollars. 120 employees earn 100K each. That's 12 million. Question; WHO is the bigger portion? The CEO or the employees? Next, give everyone a 10% increase. Now who is the bigger portion? Still the employees - right? See how this works?? EXACTLY what Dave was saying. (Obviously you do not run a business....And if you did, you'd be bankrupt in no time flat.)Oh.... Now try the math giving the CEO getting a 10% pay cut. Doesn't make much difference - does it? You're just envious of the CEO's wage.

[@MD-pz3cn]

Executive pay is largely based on stock performance. If the company quit innovating, the market would react accordingly and drop the stock price. If revenues went down with no strong prospective for future growth, the market would react accordingly and drop the price. If people quit using debt to buy electronics, cars, home decorations/upgrades, etc they can't afford, the market would react accordingly and stock would drop. But the same people whining about Executive pay are the same ones spending money they don't have, on things they don't need. Executives have nothing to do with this. Quit whining. Go build a skillset that is valued in today's world, keep working hard, live below your means, and you'll be fine.

[@jbeyers84]

Lol. They want the CEO pay without the immense responsibility.

[@elizabethallen4353]

💯💯💯

[@elizabethallen4353]

@@patglenn7762 1 minute ago (edited)Thanks for the mansplain. It is much cheaper for the business to pay the CEO a huge salary, and the employees next to nothing. Why not? Enslave people if you can. It would increase profits. Except - what if there aren't enough people who can afford the product? Customers are the job creators. Henry Ford paid his workers enough to buy his automobiles. He also paid them well to decrease employee turnover, which is very expensive. In 2021, the US CEO-to-worker compensation ratio was 398.8 to 1. Workers are right to exercise their power.

[@Infin1ty2403]

Problem is that greedy corporations raise prices with 30% while the wage increased by only 10%.

[@jetfocus1152]

You are the dumbest type of people we have on the planet. You’re dollar has lost 97 percent of its purchasing power over the last 40 years! It’s not corporations bud, it’s your dollar is becoming worthless due to the politicians printing it into oblivion.

[@davidharman7245]

Your wages are going up 10%!!!! ??? Lucky!

[@timelbrecht9562]

Your not really understanding. Wages make up part of the cost increases. Energy. Property taxes , insurance , maintenance etc all go into cost of goods. Labor is only a part.

[@Infin1ty2403]

@@timelbrecht9562 My point is that long term we have to pay more and more for services and products while earning less than the price increases which is not sustainable unless job hopping for wage increase if lucky or working more hours / multiple jobs...

[@jetfocus1152]

@@Infin1ty2403 yes, but do you realize why your paying more and more? It’s not greedy companies. You purchasing power is going down. The dollar is losing value. Don’t blame companies for what your government is doing.

[@Goodchicken_lameducks]

I live in California, as of May 2023 the median home cost is $836,110. The median household income is $84,097. And these are dual incomes. That's $7,008 per month BEFORE paying taxes. After taxes that is roughly $5,957 of "disposable income". 20 percent down payment to purchase a new home would be $167,222 (which idk a single person who just has that kind of money just lying around to begin with). 30 year fixed rate mortgage of 7 percent means your monthly payment will be nearly $5,200, including property taxes and insurance! Which means you have a whopping $757 dollars left in the month to purchase groceries, fuel, phone bill, utility bill, car insurance, etc. On top of that the feds just raised the interest rates again today so the mortgage will be even higher now. There is no way anyone is going to be able to purchase homes like this. Even 10 years ago the prices of homes out here were 1/3 of what they are today. Last I checked salaries, and wages have not increased 3x over the last 10 years for people to be able to keep up with the costs to live. People wonder why young people struggle to buy homes. Good luck saving 150k+ to use as a down payment in a short amount of time. It'll take you 15+ years if you are able to save 1k per month. The costs to live has to come down somewhere because this isn't sustainable for average people.

[@timothygibney159]

That's a good thing interest rates go up as more people can't buy a house means sellers lower prices.

[@aolvaar8792]

HINC-04, US Census Median household income was $101K, married with children under 18 CA is higher.

[@joepic85]

Then dont live in California.

[@freebird7284]

CA, it's not for everyone.

[@Goodchicken_lameducks]

@@joepic85 @freebird7284 Well for starters I was born here in CA. My grandparents came here from Italy with nothing/no education couldn't speak English and they were able to afford a home to raise a family in on a single income. Now 2 generations later we are talking about people not being able to afford a home on dual incomes. I highly doubt my grandparents would have immigrated to America if they knew this was going to be the future for their grandkids. (BTW, I am a home owner, I'm just talking about if I was to buy a house now, this the battle people are facing. Which is nearly impossible. Especially for the younger generations.) Also, you think other parts of the country are immune to this? That's why so many people are leaving CA and going to the Midwest and Southern states so they can afford a home but what has that done to the home prices in those states? Driven up the costs significantly and then you have these progress liberals moving there changing your policies. Pretty soon those states are going to have property taxes and income taxes just like CA does now. Leaving CA doesn't solve the problem it only expands it. You have to bring down cost of living in general.

[@MisteRRYouTuby]

He’s also not factoring those that hoard money at the top and it never leaves there. Dave is out of touch.

[@insideoutsideupsidedown2218]

No one at the top hoards money. They use money to make money.

[@truthserum5310]

The problem for me is, in my industry (I own a small Commercial Service based Business) my competitors haven't raised their prices in the last 2 years, so if I raise my prices, some of my customers will go elsewhere. Sucks, but that's the reality of my business. It's not always as simple as Dave speaks in this video.

[@jameswalker590]

Maybe, but maybe your competition is thinking the same way. Someone has to raise first, then the others will likely follow. If not, then they will have to accept lower profit or lower their cost of business. If you can show why you are worth more, maybe your customer base will stay or possibly grow. If you charge more to attract/retain quality people in your field, maybe your customers will see a benefit to that and be willing to pay an extra 10% or whatever. Or could you offer two levels of service? You can do what the other guys do for the same price, but if you can upsell your customer to level 2, you can make more money for better/higher quality service?

[@thatmechanicguy1993]

They are waiting you out. Survive and maintain until others fold.

[@claybob]

I like that it’s the minimum wage worker that causes inflation when they have had a 42% raise since 1980 but not the 1460% raise of CEO pay during the same period. When there is a problem it’s usually the poor and least among us that are to blame not the wealthy and powerful.

[@mikederucki]

Oh come on now, the lowest level workers aren’t the root of inflation. Supply chain disruption, demand glut in 2021 for goods and services, war in Ukraine, spiking energy costs were the main contributors The reason wages are rising for low wage jobs is because there are 10m job openings in the economy and not enough workers to fill the roles. Dave wouldn’t go flip burgers for 10/Hr because he can make more elsewhere - goes the same for everyone else. I made $30/hr cutting grass 15 years ago, why would I have flipped burgers instead?

[@thelitmedallion]

He didn't say it was, he said it was part of it. And wages being a cost most definitely are part of inflating prices... aka inflation. When your gas prices go up and stay up, you will charge more. At no point was the supply chain disruption the cause, AT. NO. POINT. If it was, why haven't prices come back down to 2020 or 2021 levels?

[@herbiehusker1889]

None of the things you mentioned is the cause of inflation. It's simply the increase of the money supply. Too many dollars in circulation.

[@maximustrolleus9860]

@@herbiehusker1889so should we increase wages while not printing more money then?

[@ALPHA-ROTH]

as a whole, the labor market it self is. if 4 different people touch one product, and they ALL get a raise, the price of the product goes up. it snowballs. now, you can work the printing into it, because people got checks and decided they didnt need to work, which then decreased the labor pool, which made the min amount people would take to work, go up...but then prices increase. the bottom line is that the numbers dont matter, the bottom of the rung will always be the bottom of the rung unless they actually climb up the ladder. taking out the bottom rung after you climbed one rung leaves you on the bottom rung again.

[@flicks28]

Exactly, inflation was all over the world. Take Dave's explanation and it doesnt hold up in most other countries. There were so many other factors, but getting into anything "international related" will just cause massive confusion to Americans.

[@flowscreation3741]

Scrolling down indeed, the amount of 12$ an hour warehouse jobs requiring 5 years of experience is shocking. Double that would be rough these days.

[@LyricalTampon]

It's weird seeing someone who knows a ton about getting people out of debt get basic macroeconomic principles so wrong. Wages are not the sole contributor of inflation, and they had next to nothing to do with the latest round of inflation. The velocity of money, restriction of supply chains, and lack of taxation at the highest margin levels caused it and no economist alive would suggest otherwise.

[@thelitmedallion]

He didn't say it was, he said "costs". wages are a cost.

[@jonogardner9846]

Let’s keep blaming the working people, when the billionaires profits keep going up.

[@dwadedunkedkobe]

Yet their operating costs are significantly higher. When you account for inflation, their profits really weren't all that great.

[@bucknut9475]

Corporate profits are down 4% so far this year. He wasn’t blaming the workers either, he was blaming the government disrupting the labor market and people making demands that they don’t think through.

[@agees924]

@@bucknut9475 This is right after the pandemic though. Of course corporate profits will be down after they doubled their prices just the year before. Overall, they are still up and in some cases higher.

[@conquistador2]

​@@dwadedunkedkobethey still make a profit

[@tomasrodriguez2418]

And in and out prices still stay the same…

[@richardm5540]

I can’t get enough of Dave’s newest yes girl Jade . “Oh yes Dave “. The moon is made of green cheese cuz you say so!

[@TheyRiseBand]

He seems to change out Yes People quite regularly.

[@cjmuniz12]

Perhaps another “inflation reduction act” will help!

[@TheMiracleMatter]

LeMAO

[@mast3397]

What a pantload ! For example, if a company has profit margin go from 25% down to 18%, it does NOT mean they go out of business! If a company has a $20M shortfall due to component cost inflation, they CAN reduce executives compensation from $100M to $80M and not raise prices. Prices and labor are NOT the only elastic variables in business!

[@christopher7725]

The price of paper goes up, Dave demands to be paid the same per book, so he raises the prices of his books and then complains about inflation.

[@davidsensing2664]

The Federal Reserve played a MAJOR role in where we are now. In 2008 when the housing market tanked, the Fed dropped rates. The problem is that they didn’t start raising rates fast enough before 2020 when COVID hit. We were getting free money for a couple years. I have a 30 year home loan at 2.6%. That is crazy. Too much money entered the economy and then add the stimulus checks plus we are in a pretty low overall tax situation all created this mess.

[@brandonhunter3166]

Late, but a reasonable person lol

[@ryanburr2164]

They passed out in 2018 when there was a minor turn around

[@jackpleb2360]

Lol. The money has been fake since 1913. Unconstitutional in every way. Ppl enjoy being enslaved, it seems.

[@JDMSwervo2001]

And people are blaming Biden

[@brandonhunter3166]

@@JDMSwervo2001 Biden isn’t making things better, but the Fed policies during Obama and Trump’s time in office contributed a lot to the mess we’re in now

[@BillySeiling]

We’re three years out from “the cough” and companies are still gouging customers due to fake supply chain issues.

[@thatmechanicguy1993]

Fake? We have no orders for billet. Russia aluminum is piling up because China isn’t making things like they did pre Covid. The supply side is screwed up. Equipment parts are on back order. Still waiting on parts from Japan. It’s not fake. It’s inevitable. The worlds supply chain was built on efficiency and disrupting any part of it trickles down. Well Covid shut down the commodity side like never before.

[@marshallmayhem5516]

Company’s are still reporting record profits but no it’s the little guy asking for a small raise so he can afford rent/food that’s causing inflation

[@annapatton4544]

our daughter broke her arm and was referred to a a doctor at a hospital. She did not a surgery or anything dramatic, we went there twice, each time for a presceduled appointment, first time they put on a cast, second time took off a cast and gave her a brace. Both times did x-rays. The cost of those 2 appointment was over $20k and we paid 1/3 of that out of pocket. I thought I was going to lose my mind. The bills were coming in postions 1.5-2 months apart, every time they were saying that was the last one. Just for the brace that was $39 on amazon and the manufacturer's website we were charged $1200. The bottom line was why so expensive? That hospital is non-profit and provides services free of charge for those who cannot pay for themselves or does not have insurance or is not in the country legally. But they need to cover those expenses somehow. And this is why they overcharge those who is "able" to pay. No matter that you put all your savings out to cover the cost. You pay just because you had the savings, did not spend on the new iphone and did not go out to eat to save it. I am not dealing with non-profits anymore and definitely not donating to them ever again.

[@Forced_Drama]

$25 an hour? I wish i made that

[@chrisbluebird5037]

In my interpretation, this demonstrates the significance of obtaining an advantage as an investor, as relying on conventional market strategies may not yield optimal results. While I have reservations about investing in the present market conditions, I also recognize the potential benefits of initiating investment endeavors at this juncture. What is your perspective on this matter?

[@mesutserim1595]

The current market decline provides compelling evidence that a significant number of individuals did not possess adequate comprehension of the fundamental financial dynamics in operation.

[@legacymedia8468]

@@mesutserim1595 Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@selenajack2036]

@@legacymedia8468 It's crazy to think that all it takes these days is one piece of information to strike it rich. I know people who made a killing off the Dotcom and 2008 crashes, and I've been scouring the current market for similar opportunities. I'm curious if the coach you mentioned could provide some guidance in this area?

[@legacymedia8468]

@@selenajack2036 My advisor, Heather Lee Larioni is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further.

[@selenajack2036]

@@legacymedia8468 Thank you for this referral! i just looked her up and sent a message hoping she gets back to me.

[@jbwilliams18]

All I know is that we can’t cut off the Ukraine funding. That border is the most sacred thing on earth.

[@annsgal2025]

Essentially the USD has become dramatically devalued. Now low skilled labor is demanding $20 per hour to flip burgers. No surprise that I am paying $8 for a burger at fast food restaurants.

[@jlava1575]

While i agree with 95% of what Dave said i think it is deeply disingenuous to not bring up that the ceos and high level executives of these major corporations have not been passing on the buck to the working class. So sheb the working class becomes more productive the upper class reaps those benefits and almost never passes it on to their employees. For instance the McDonald's ceo is now making 500x what their lowest labor employees were making when it used to be more like 150x what their lowest labor employees were making. Its completely poor leadership across the board and people are starting to feel the pain of that and are fighting back.

[@jackiemoon_lms]

Let’s be real. The CEO runs and oversees the largest global food chain. Of course they make your claimed 500% more. Lucky a robot doesn’t make our burger and fries at this point. Would probably do a better job too.

[@jlava1575]

@@jackiemoon_lms I am 100% for automation. The less menial shit people need to do then the better. Like I'm not complaining that there are batco tractors that can dig a larger hole in an hour faster than a team of ten can in a full day. That's a good thing. And then the people operating those machines should be making a lot more money because they are able to produce what a team of ten can do in an hour. But I guess production and efficiency doesn't really result in wage growth. Or it shouldn't anyway...

[@millsathn]

@@jackiemoon_lms500x, not 500%. 500x is obscene and shouldn’t be allowed.

[@zachdarr7605]

For 1. Someone else making more money doesn’t keep other people from making more money. 2. The CEO gets raises based on profitability of the businesses they run. 3. The $$/hr worker on min wage NEVER makes more than that in that position regardless of how much a business makes, because it’s a min wage job. 4. Skilled labor isn’t cheap and cheap labor isn’t skilled

[@rh-bd6wv]

Yes. The current CEO of McDonald's is a paid employee just like any other employee. He did not create the business and did not take anymore risk in accepting the job than any other employee. Trying to sell the idea that his time, which is all he has invested, is 500 times more valuable than the employees that support him in his efforts is preposterous.

[@wadesinor7369]

The fast food restaurants did not double there payroll to the employees.. it’s still $9 to $11 here in Oklahoma..

[@Times397]

And only $15 in NY….we both know almost any area of NY is more expensive than Oklahoma

[@ALPHA-ROTH]

yes, but what is their food cost now? food went up as much as 150% for some items.

[@user-rl2jh3wn4t]

It is nuts

[@rodneyodell8959]

The thing you left out was the government printing money. That is the main cause of inflation.

[@DMAN590]

Lol yeah the thing he left out is the one point that actually mattered

[@Simpleharmonica]

Oil regulations a major factor. Every good and service that’s is bought and sold relies on oil to be produced and moved to the customer. You decrease oil production, you increase cost of fuel and therefore the price of everything follows

[@jpg_sig10]

The main reasons for inflation under PotUS Branden have been: #1. Branden's declared war on fossil fuels, which began when he first announced his presidential run in 2018 / 2019, "I'm going to end the fossil fuel industry." He began his practical execution of this threat / promise on his very first day in office, and he's never let up. During Branden's first year in office, the price of a gallon of gasoline here in the SE Phoenix AZ valley jumped from $2.19 to $4.58 (yes, it more than doubled) before the end of 2021. For you historians out there, that's before Russia invaded Ukraine. When you cause the price of petroleum, and energy in general, to increase, without reducing the demand for these absolutely vital goods and services, you cause the price of everything else to increase, too. Or else people wither away and die. That's inflationary. #2. Printing far too much money, government spending like drunken sailors. That devalues the dollar, causing inflation. And here I thought quantitative easing was illegal. It is, for citizens and the states, but not for the federal government (per the U.S. Constitution). #3. Raising interest rates, tightening up access to credit. Typically, this was the Federal Reserve's fiscal policy when the economy was too hot, growing too fast. But Branden has done it in a slow flat and even receding economy, creating stagflation, despite what the published unemployment numbers would otherwise suggest. The last time crap like this was going on, Jimmy Carter was President. Back then banks were paying 5.25% on passbook savings account deposits, 5.5% on statement savings, 6.5% on money market savings, anywhere from 8% to 12% on FDIC insured CDs, and yes, charging up to 18% on residential mortgages. Today, banks pay way less than 0.5% on savings, charge fees galore for virtually everything, and they're charging 8% on residential mortgages. I work in banking. My last annual salary merit increase was combined with my last promotion salary increase... I got a whopping 1% raise. Let the partying begin! Branden caused this inflation - it has been no accident.

[@amireallythatgrumpy6508]

It's an international issue not a national one and it is mostly caused by things that happened outside the USA

[@markdohrmann5983]

Most unbiased studies say an increase of the minimum wage would have an impact on prices of around 0.50%. Wages definitely aren't the driver of inflation and won't spike the cost of a meal out.

[@emoney9931]

The problem is when companies are raising prices 10% when their material costs increased 5% and labor costs increased 3%. There is obviously some of that going on as companies post "record profits." Charging more because you can and paying the same (less when inflation is considered) because you can is both greedy and normal capitalism.

[@philmarsh7723]

The underlying reasons for high inflation: 1. lack of competition bad government policies which discourage competition. 2. Rising population and rising living standards which strain resources. 3. Climate change which destroys resources. 4. Too easy credit and too low central bank interest rates.

[@phillipsouthard8285]

Dave couldn't be more wrong on this. The paper cost did go up, but the dock worker and truck driver didn't get a raise. The stockholders and CEOs got a raise because their profit went up. In other words, using Dave's example: Dave pays 30% more for paper Dave doesn't give a raise to dock worker & truck driver Dave raises book price by 50% Dave makes more profit, consumer pays more for goods, and dock worker & truck driver can't afford it now In Dave's example, Dave is the problem.

[@user-bn4ob6mm5e]

Well said 👏

[@DesignedByTaz]

Well done 👍🏼

[@BabyGators]

Are you joking? Unskilled jobs have risen in price tremendously over the last few years. Beyond that, Dave doesn’t employ those positions in his example. You can bet he’s paying his people more now than before this whole dumpster fire started though.

[@phillipsouthard8285]

@@BabyGators go look at the Glassdoor reviews of Ramsey Solutions. Plenty of people have left reviews of terrible pay. However, it doesn’t take longer than 5 minutes on google to find out that too CEOs and executives got huge bonuses and raises over the last few years. I have a friend who works for UPS as a warehouse worker and another friend who does Amazon deliveries. Neither of them have gotten raises in two years. And both of those guys live in Dallas, a major city, and they still make less than 40k a year. From 2020 to 2021, workers compensation rose 4%. In the same period of time, CEO compensation rose 31%. So all those higher prices you’re dealing with, 100% the fault of greedy business owners.

[@BabyGators]

@@user-bn4ob6mm5e PROFIT, which is a good thing

[@BHarris25]

This is such a hilarious take, inflation is government policy.

[@thelitmedallion]

Yes, but you do realize there's a cycle to it? Prices go up, that includes ALL prices/costs. Wages are a cost, are they not? Why do people get cost of living increases? yes, COSTS! The government over printing starts it every time and wages cement it about 9 months later if the fed doesn't react quick enough. Which, Powell didn't do and the chairman prior to Voekler didn't do.

[@Lerpzoid]

​@@thelitmedallionbusinesses are making RECORD PROFITS while still paying people more. It's not the workers fault things cost more. It may be a small effect, but the businesses are still making more than ever.

[@unclebenny]

An increase in prices is the result of inflation. When the money supply inflates and it makes its way into the economy it distorts free market pricing which has a ripple affect. This is why an increase in interest rates is used to combat inflation. Cost of money goes up which constrains demand and deflates the money supply as old debt is paid off. Inflation doesn’t come down because workers get paid less. Just like inflation doesn’t go up because workers get paid more.

[@ALPHA-ROTH]

@@Lerpzoid amazon, walmart, the big corporations are showing record profits. small business are not, they make up more of the economy than the big guys, but small business has to compete with amazon, walmart, etc.

[@TheMiracleMatter]

@@unclebenny "An increase in prices is the result of inflation." Small correction; An increase in prices IS inflation.

[@joshhoward1289]

Large companies aren’t going to take risk, they are going to raise their rates. Volatility brings inflation to normal people and massive profits to large companies.

[@gargamel3966]

Currency creation -> inflation -> higher prices. Overcomplicating is confusing.

[@BiPolarBear722]

Some businesses are evil and greedy. E.g., time share, debt collectors…

[@auburn.JoaoDuarte]

Mcdonalds is greedy, not debt collectors, they are just cleaning the mess that people with no sense spend money so carelessly!

[@gottasay1157]

totally agree, until consumers can't afford the fast food/ restaurant /retail, then bye bye. it's with all products its there until consumers don't want it or cant afford it.

[@DerickJordanDJ]

Yeah but a good investment can save you from things like not being able to afford meal

[@HighCountryRambler]

US Treasury just came out saying 'we made a mistake last month' we REALLY are spending 1.8 Trillion more than we are taking in, AKA budget deficit spending. (doubled in 2023) They also said, in just 1 year we'll be paying $2 Trillion on interest payments on our $33 Trillion debt. Once our debt payments exceed our GDP it's game over. Worst part, what are we getting for all this debt spending- every major city lined with homeless encampments and crime, wide open border, recession, and 3 new Biden wars. Call me what ever you want- I'll take what the last president brought to the table over this dumpster fire.

[@stevegolacks8731]

Man, I am one of very few people that you will talk to that has been more than ecstatic about the inflation the past 3 years! Me and my wifes employer have both given us "inflation" raises the past 2 years. They obviously didnt call it an inflation raise, they just said it was a "doing a good job" raise. They were only given the more productive workers, to basically retain the good people. Many people have left the company who didnt get raises because they were being head hunted by other employers, which was another win for my company because these less productive people left without having to be fired. Inflation affects everyone, but its pretty minor on the people who have no debt, and can easily cut things out while prices are high. i.e Houses, cars, electronics, etc. Not to mention, banks paying 6% on a savings account now....YES PLEASE! AND THANK YOU!

[@krobdawg]

"When America got Fauci'd" lmao

[@nottelling4828]

Yeah, I caught that. About the stupidest thing I've ever heard fall from Dave's lips, but what can you expect from a Republican in this day and age.

[@DerickJordanDJ]

@@nottelling4828I hope y’all take investing very seriously

[@eserv88]

@@nottelling4828they eat up conspiracy theories

[@herbiehusker1889]

​@edgarservin1781 enjoy your myocarditis.

[@eniak00]

This show is obsessed with this topic (COVID driven inflation). He comes back to dwell on this all the time. They tell people to control what they can control but at the same time blame the government or other such stuff all the time.

[@sassasins031]

When you buy up houses to rent to people it makes them more expensive so those same people, can no longer buy and, have to rent.

[@jameslastname9171]

In defense of staying home in Mom’s basement playing Nintendo - the new Zelda is really that good. 😂😂

[@ryancraig4811]

Dave looking past nearly $6T in fiscal stimulus and a Fed behind the curve. Low wage pressure was building before the pandemic. McDonald’s didn’t install DIY order kiosks for the customer’s benefit.

[@jayc4715]

Truck drivers are not getting paid more

[@tranger4579]

Its the American consumer is willing to pay 15-20 dollars for burgers and fries with soda. Its the American consumer willing to pay 300 dollars monthly on average for a cellphone bill. Its fhe American consumer willing to buy and iphone 14 pro max for 1400 dollars. Its the American consumer willing to indenture themselves for years paying thousands for glorified mini monster trucks and Cadillac buses. Its American consumers will to go into massive credit card debt to purchase nonsense that drove up inflation and continues to do so. Im debt free with no car notes or credit card debt. I paid off my home and do not spend money on fast food. I wake up and go to sleep with a clear mind. Life is great. Let the mindless American consumer sheep keep spending.

[@Healinglove]

Amen! This is how I'm living, it's beautiful and freeing ❤

[@jimmymcgill6778]

There he goes with someone in the basement playing video games? People deserves a living wage, not peanuts.

[@appleiphone69]

Inflation is up world wide.

[@ajo6751]

There are also business' posting record profits so while their costs went up they also are raking in profit and do not have to raise prices in all cases.

[@insideoutsideupsidedown2218]

The reason they have more profit is due to inflation. Profit does not stagnate when the costs go up.

[@neilsmith9066]

People Realized being a millionaire is not important, Their Time is important it’s the only thing Important in life with limited time and Covid caused that switch. More and more people would rather live in a tiny house on a plot of land then to be a s l a v e to corp America

[@zion_lion340]

A possible reason cost of everything has gone up too is so the government can recover the money they "gave"/ lend people during COVID. Everything cost more so we get taxed more

[@CC-ru8pi]

Inflation happens when the government or central banks increase the money supply with no commensurate increase in the amount of goods and services produced. You know, things like shutting down large sectors of the economy for years at a time while mailing everyone stimmy checks that were created entirely out of deficit spending.

[@siva47931]

Dave, you say don't lend money to family. That family dinner with your creditors taste different. What are you opinions on working with family? Do family dinners taste different with your employees? Asking for Rachel

[@MrJimmy3459]

Obviously, he's not against family working together because he has his kids working for him you simplton

[@TheTurdballs420]

They taste like delicious nepotism! Don’t be a hater

[@eclipse.5295]

@@TheTurdballs420😂😂

[@costco_pizza]

@4:52 Very shocking language from Dave! Never heard him say this!

[@accordio321]

🙄

[@mk1fourwinds62]

You bring up an important point. There is NO financial education in schools. NONE. Zero. Totally absent. The one subject necessary for every functional adult citizen to be taught at an early age is absent from every school curriculum.

[@jeffpadilla9891]

Oil/Gas raise prices faster than anything.

[@mxg8475]

Did he just say these big companies are not evil and greedy ?? 😂 sometimes i think hes out of touch with reality

[@amireallythatgrumpy6508]

No, he said that's not the cause of inflation. Although it is one of many causes.

[@mxg8475]

@@amireallythatgrumpy6508 makes sense

[@Times397]

Or, Dave, the executive employees can take less money or not receive a bonus or raise, but I know that’d be un-American….

[@s1234pro]

Dave you are so right. Eye opening.

[@jefferykeeper9034]

I worked at Lowe's in 2000 and they told us that they have to make 600k too keep the doors open everyday.

[@maxpayne044]

Most and more Dave has shown has completely disconnected he is from reality. The government isn't the reason inflation is so high according to him.

[@aqm8470]

Dave , youre wrong on this one. Shame you dont have a guest on who could question you rather than the lap dogs you have next to you

[@glostergloster6945]

I like a lot of Ramsey's suggestions but this one I disagree with. 'The cost of labour goes up, dont bitch when McDonalds raises their prices'. McDonalds made a profit in 2021 of $7.5 billion dollars after taxes and expenses. They could always trim their profits a bit to pay their workers more, they dont have to raise prices.

[@matyasfegyver2898]

In my country CEO s don t give almost any raises and the prices are though in the sky. How is that?

[@boverhof3]

Sorry that paying folks a decent wage for working so that they can live at or slightly above the poverty line has somehow caused inflation. Maybe some of those billionaire CEO's could take a pay cut and help the rest of us out.

[@eclipsed4utoo]

I totally agree with Dave here. 100%. Wage increases cause prices of everything to go up. I'm 100% positive that if everybody's pay went down to $1/hour, the prices of everything would drop, and companies would not just keep the same prices to make more money. (hope my sarcasm comes though)

[@TheRealMacAndCheese]

This is the literal first time ever that I have heard Dave Ramsy swear. I've been listening to him for 15 years.

[@amireallythatgrumpy6508]

You've missed a few then. He has used this particular word a few times.

[@TheRealMacAndCheese]

@@amireallythatgrumpy6508 Really? Woah. How about that. Haha

[@NaNa-lt1po]

I only look at videos with dave in it nowadays.. Has Jade said anything original?? She just repeats dave with a 2 sec delay, ..irritating

[@DerickJordanDJ]

I hope you value investing more than saving

[@front331]

Jade is useless. She doesn't add any technical knowledge (math, legality matters etc) and she addresses behavioral decisions in a 1-dimensional way (never again crap) without critical or logical thinking.

[@NWI_Steel]

"That's right"

[@Blitcliffe]

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.

[@Mcllwain]

I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.

[@tonicruger]

@@Mcllwain Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.

[@Aziz__0]

@@tonicruger That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.

[@tonicruger]

@@Aziz__0 My advisor is the quite famous NICOLE DESIREE SIMON She has been making a fortune online worth millions of dollars in digital assets for a select few for years. Lately, these types of services have appeared that allow you to copy the results of the experts. She demonstrates how to copy it automatically using that system.

[@Aziz__0]

@@tonicruger Thanks for the info, i found her website and sent a message hopefully she replies soon.

[@jasonlovell3934]

Most businesses have had to absorb increases in costs without raising their prices for years. It has all come to a head in the last 3 years. But there are many reasons for inflation not just one.

[@gtileo]

here in Canada one of our major supermarket chains called Loblaws had to prove to the government that they weren't price gouging customers after earnings came out and they showed larger profits. they were operating on a percentage and they maintained that percentage of margins on their sales, obviously if the cost to buy and sell the items goes up the percentage is going to increase. to save face and keep the pitchforks down they dropped their profit margins on products to help keep people happy and fed, but it still doesn't change the fact that demanding more money has increased the cost of things which translates into higher percentage margins. math and basic financial knowledge is a lost skill, despite more people thinking they need university and higher educations the simple side of business and economics is lost on people. all because they don't know how to live within their means and stay out of debt.

[@gsyarber]

God forbid owners and shareholders take less profit

[@kman20]

Jesus once said “give me profit or give me death”…

[@austinduke8876]

@@kman20 Thomas >> Shouldn't you feed the lepers? Supply Side Jesus >> No. That would just make them lazy. James >> Shouldn't you then heal them? Supply Side Jesus >> No. If the people knew I was helping lepers there would be no incentive to avoid leprosy. Peter >> I've got a great line for your sermon; 'It is easier for a camel to pass through the eye of a needle than for a rich man to enter heaven'. Supply Side Jesus >> Shame on you for promoting class warfare.

[@gsyarber]

@@kman20 lmao. Oh so that makes it ok. Great thinking 🤔

[@michaelcarter266]

The CEOs should get paid less for that they can pay their workers 15 dollars an hour.

[@jacquelinebarnett1334]

Exactly. But, people don't think of that with the demand of higher prices! Higher wages, higher costs. It's a circle.

[@Michaeldotcom33]

More dollar bills in use decreases the value of the dollars. That’s the actual cause of inflation. People have more money to bid up the prices after all the printing. As an economist it makes me cringe hearing him blaming working people on inflation. Blame the government printing machine and the Fed believing inflation was “transitory” which made them delay increasing interest rates too long.

[@amireallythatgrumpy6508]

Newsflash: Inflation is transitory. In fact, the existence of the whole economy is transitory. Even the existence of humanity is transitory.

[@Michaeldotcom33]

@@amireallythatgrumpy6508 won’t deny that. Great insight!

[@bradlopez3681]

Wages do not drive inflation 😅 min wage infact didn’t increase yet prices still went up

[@bradlopez3681]

What has increased was profit margins not the dollar amount but the percentage they profit. This is the leading cause of inflation

[@bradlopez3681]

While there has been a small correction in wages it is still being outpaced by inflation and cost of living

[@DerickJordanDJ]

@@bradlopez3681I guess it’s time for everyone to focus more on investing in digital currency

[@TheTurdballs420]

PREACH! Dave

[@Bradimoose]

My company raised our wages by 4% and increased pricing by 21%. Record profits!

[@TheDriller100]

sorry dave but as a small business owner of a trucking company we are getting paid 2010 rates but everything is 2-3 times more expensive.. oil changes use to be 140.00 and are now 550.00.. AND NO!! the economy is not grade. if business are paying more to transport goods, we'll We the trucking company are not getting that money, some scum bag broker is keeping half the money to be the middle man. great example"PODS" yes they are as cheap as they get ! and the hole "raising your prices " only works if you don't have thousands of other trucking companies doing it for cheap.. the" they pay 25.00" to stock breed " is complete B.S.. and i do love dave but somethings his just delusional about

[@BigDaddycris]

Think this is the first time I’ve heard Dave cussing 4:51 😂

[@gregglouis2969]

Couldn’t agree more with what Dave said. Sad truth