The Economy. Your Money. Real Answers.

I sat in the audience of Dave Ramsey’s big high-tech broadcast tonight. I didn’t know what to expect before I got there, but I was impressed, encouraged, and inspired. Not only does Dave have things figured out for himself, he is a leader and seems to care about helping others.

He gave a brief history lesson of Keynesian economics, then explained some of Milton Friedman‘s work. He says there are three important things that have made the US great (or maybe it was the economy great, or maybe capitalism) 1) Economic Freedom, 2) Political Freedom, and 3) Moral Restraint. We have not been so good at the moral restraint part, and this has caused many problems.

Dave gave three things that we need to change in order to turn things around for the better:
1- allow failure (yes, failure is an option, and it will run you toward excellence)
2- relearn the word NO (no, we are broke, so we can’t buy a new house; no, you are 17 years old, you don’t need a new Corvette, etc)
3- take personal responsibility (you run your own life and are responsible for everything in it)

He followed up a question/answer session by giving three things to take action on:

1- Get up and take action – You are the cure, America. No one else is going to solve your problems for you—that’s your job! Find out how you can take control of your money, turn back the fear in your community, and hold your representatives accountable for the decisions they’re making on your behalf.
2- Stop listening to loser talk – We’re sick and tired of the “loser talk” that has permeated the media, the water cooler and the internet. Stop listening to the garbage, and start speaking a word of hope!
3- Start giving – Learning how to give—whether it’s money, time or support—changes your whole mindset. Dave says it pretty clearly: “We can’t win if we can’t give.” If you want to win with money and change the nation, you’ve got to learn how to give again.

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4 Responses to The Economy. Your Money. Real Answers.

  1. Elizabeth K says:

    Thanks for the summary. I had planned to go and then spaced.

  2. Brian says:

    I hear it is on Fox-business at 10p if you get that channel. I was just browsing the website. ( lots of good info there, I need to spend more time learning, and that looks like a good starting point

  3. Nancy S. says:

    Your summary was exactly what I was expecting. He is day in and day out a huge proponent of NO. Seriously, there is the moral restraint. If you can’t pay for something without using money(cash), then honestly you can’t afford it. Simple concept. He has a booklet that was on his website and downloadable a few months ago about great investors that was awesome, if it still isn’t there and you want to read it I have it saved to my desktop and can email it to you.

  4. David C says:

    I went, too, and got a lot out of it. I have always enjoyed listening to Dave Ramsey.

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