Dave Ramsey on the economy

I’m a big Dave Ramsey fan. We actually participate in the My Total Money Makeover and receive all of his newsletters. Here are his thoughts on the current economic situation our country is going through:

What does all of this come back to?

Greedy banks financing homes to broke people. It all seemed to work okay in their minds when the economy was booming, but when the economy slowed a little bit broke people quit paying on their sub-prime mortgages. DUH. No wonder they went out of business. Stupid decisions.

Is there anything we can do to fix this bailout mess?

YES! Here’s a quick summary: Companies that had billions in subprime loans were feeling the effects of their stupid decision to make those loans in the first place, and practically gave them away for pennies on the dollar. But since no one wants these loans, and they’ve had to mark them down to market value, it has frozen the market. If we temporarily change the rule that forces companies to do that, that will free the market up.

This is an absolutely huge deal, and it involves everyone getting in touch with their congressperson before we spend hundreds of billions of dollars that we don’t need to! Learn more

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2 Responses to “Dave Ramsey on the economy”

  1. bryonm Says:

    Yeah, I read this. I followed the link from your sister’s blog.

    I like this guy.

    But he looks like Brian McLaren, don’t you think?

  2. geppapa Says:

    oh yeah, he does! maybe this is an alter ego or something……

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