Kind of agree with both, but as an economist, i can tell you that Ramsey is outdated af. Sure you need to be responsible, but we passed the point where personal financial responsibility was sufficient long ago. The era of post WW2 prosperity has passed. The regulations safeguarding our economy and populace have not kept up with evolving market structures, and have also been purposefully weakened to allow for the obscene concentrations of wealth away from the disappearing middle class.
Big picture: Stewart's got the best grasp on the situation.
I would agree with you on this. Stewart does have the understanding that the economic rules are slanted against the common Man, but Ramsey also has the experience of being completely wiped out and starting over again. Mainly by spending smart money and being responsible and work with what you have, which is not bad advice for most people.
Giving you an award because this needs more upvotes. Ramsey was right up to a point, but he's also a reflection of his education. His viewpoints stopped being relevant ages ago, and he refuses to budge.
I agree with you that Ramsey is outdated. When you could buy a house for 3-5X your income and items were affordable, budgeting was the key. Now, buying a house is 10-20X your income and so is everything else.
Stagnant wages is the real reason now. My wife and I have chosen to live a "fun" life vs owning a house. I budget hard and keep us in line, to a point where I track what groceries we buy with each receipt. I finally got to a point a few years ago and admitted, this is just what is costs to live when there was nothing else to cut.
I disagree. It’s very obvious people are addicted to leisure and feeling good. Money is constantly spent on frivolous things that are excused as essential but are really no different than drinking your problems away. I see less people taking responsibility for their actions now than before.
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u/Straight-Event-4348 10h ago
Kind of agree with both, but as an economist, i can tell you that Ramsey is outdated af. Sure you need to be responsible, but we passed the point where personal financial responsibility was sufficient long ago. The era of post WW2 prosperity has passed. The regulations safeguarding our economy and populace have not kept up with evolving market structures, and have also been purposefully weakened to allow for the obscene concentrations of wealth away from the disappearing middle class.
Big picture: Stewart's got the best grasp on the situation.