While many Americans are still feeling the pinch of economic uncertainty, spending remains strong. Dave Ramsey, financial expert and CEO, Ramsey Solutions, joined TheStreet to discuss the puzzling disconnect between how the economy is faring and how people are feeling about the economy.
Full Video Transcript Below:
CONWAY GITTENS: So, listen, there’s a new buzzword making the rounds flex session. You kind of talked about this a little bit earlier in the conversation. You talked to a lot of people out there. What do you make of the disconnect right now between how people are feeling, how they are actually spending and the actual tone or tenor of the economy, the U.S. economy right now?
DAVE RAMSEY: Yeah, it is. It’s weird. I agree with you. I mean, when you sit and complain, as we said earlier, that your life is awful, but there’s Amazon packages on your doorstep every night. What, I mean, come on, what are you doing? So you can’t have it both ways. And it’s these people are actually psychologically anxiety ridden by the horrible economy, and they’re boxed in, they’re victims of this horrible economy in air quotes. And yet they spend like they’re in a prosperous economy and on superfluous stuff, not it’s not necessities.
So, I mean, I could go through people’s budget and it make you cry some of the stupid butt stuff people are doing with money while they’re complaining that they’re in a horrible economy. Listen, if you’re in a horrible – if you’re in the middle of a storm, you batten down the hatches. You don’t keep jumping in puddles. You know, you get inside, you you close everything up and you huddle down till the storm passes. But no, this bunch isn’t doing that. They’re out playing in the lightning and then complaining about getting struck. So now that’s that disconnect is very real. We find that everywhere right now.
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