Amazon, California discussed on Dave Ramsey

Automatic TRANSCRIPT

Everywhere open right and they're still hoarding cash and reducing debt you could make that analysis but right now they're not out spending anyway you do versus unless they're buying it on Amazon well in California as what the largest GPA of like five like the fifth largest in the world right up of the family said health does the city California and politely showing there so and they're still shut down till the fall is what they're saying with schools universities so yeah so all that to say it's yeah it's not a correct analysis we look at it from well it went in and then let's let's let's go ahead and fast forward and try to apply the logic in a logical way rather than in a logical way let's say that Americans forever decide because they've been through this that we are going to be wiser and we're going to carry little to no credit card debt and we're always going to save money does that in fact crash the economy in truth it does not because here's the thing if households are stabilized through their own problems and through outside problems they continue spending savings stabilizers households if households don't have as much credit card debt you know what they have more money you know what they do is some of that more money they spend it so this is the same dumb but logic the people settle for everyone in America follow Dave Ramsey and didn't borrow money and save money American economy would collapse no it wouldn't collapse it would bloom because human beings would actually have more money because they're not giving it to banks and car companies human beings would have more stability in their lives because they would have savings and it would cause a boom if you used biblical principles for handling money which is saving money and staying away from that and so it's the same stupid idea that the consumer has a you know you have a opera patriotic our obligation to spend your stimulus check to stimulate the economy for scrap but I was gonna say that's like the number one argument right now or question or suggestion of when you get your stimulus check and I was like she gonna interview kind of got a little bit compare with the anchor because they're like no ritual it because im pei out your your four walls use that's a mistake for food dad gum family your house yes and and to build up a strong financial foundation for your family and then you have the confidence to go out as consumer to go and spend travel again whatever it is where your money is being where your money's going yeah and he almost like blue she was dying he was a great you're making my head spin right now I can't do it now or else when you go out and spend they need it they need help Jim you know stimulate the economy with this this is what that's been given to them unlike now when are freaked out with this and so you said it's for your own household so you're exactly right that when you have confidence in your own home then that's when you're going to go out and actually spend the money that you've earned you're going to go and even though you say it's for a new car you're gonna go out to dinner and do these things with the money that you have because you actually have the money and it goes of the reason that the stimulus passed so easily was several fold obviously people the politicians were trying to buy votes obviously people were very scared and they're trying to calm them down but the other reason that the stimulus passed so fast and so easily is the same reason that anchor believes that is that we have been taught in school our whole lives the Keynesian economics John Maynard Keynes invented Keynesian economics actually works which there's all kinds of data this is it doesn't work Keynesian economics is the government creates jobs and stimulates the economy it's whatever the are dead in the new deal he John Maynard Keynes convinced FDR Franklin Delano Roosevelt to get us out of the Great Depression by doing government make work and so they created the TVA they created all these big guys digging ditches in countries they created all these jobs that the government was paying people didn't have jobs to work and that's supposedly stimulated the economy out of the Great Depression however there's a very valid argument that no one talks about anymore the war war to actually got us out of the Great Depression not John Maynard Keynes Keynesian economics so this idea that government should interfere in the economy and stimulate things is so widely believed because it's taught as fact this idea of Keynesian economics and people I know that's what's called probably lesser econ student like me but the you know but but decide in basically John McCain is a socialist the idea that government is in control of our lives in government should be the nanny state and government should take care of us and all that and we argued about this a lot back in the two thousand eight crash the government has to get involved because of German roaches too big to fail we have to bail them out won't Norman Sachs is failing or that and so but but over in just below the surface.

Coming up next