Confronting Dave Ramsey on 'good' debt

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[wadesuhr]

Props to this channel for having Dave Ramsey on and letting him speak this way. In depth and candid.

[smileychess]

Outstanding interviewers. Three young guys who didn't interrupt a single time?! By today's standards that's absolute top tier.

[tenminutetravelbreak]

I think Dave did a great job of actually answering this question.

[JoseSt]

When I heard Dave the first time I thought he was clueless about people that didn’t have much money. It wasn’t until I actually listened to what he was saying that I realized he knows what he’s talking about. My wife and I just paid off our house and cars. We are debt free and the freedom we have and feel is life changing.

[JMKING]

"When the tide goes out, you can tell who's skinny dipping." Damn! That's one hell of a quote from Buffet.

[ToastbackWhale]

I like this version of Dave a lot more than the Dave on his show. Calmer, more time to get his thoughts out, shows that he does, in fact, know what he's talking about. Shows that his dogma doesn't come from ignorance, but a place of extreme risk aversion.

[kpboost]

What he said about people in the real estate business is so true. They are taught to preach that the market always goes up and there’s no risk involved in buying a home or investing in a property. Most agents and mortgage loan officers are just out here acting like used car salesman and trying to hit their sales goals. They don’t care if you foreclose or lose money on a deal and get stuck in it for years longer than you forecasted. I see a lot of first time homebuyers in the near future regretting buying at the highs the past few years.

[SteveTheDrummer]

I deeply respect both Dave and Graham, it warms my heart to see two people with similar theories and opposing theories sit and discuss the pros and cons of their philosophy. My hat is off to both Dave and Graham for doing this…

[WildcatWarrior]

I was raised on DR, listening to him on AM in my parents minivan during the recession, and this was one of the best clips I've seen of him ever. Simple, yet rock solid response to one of his biggest critiques. Remember folks, there is a reason why Dave has been relevant for as long as he has.

[brandonbrooks]

As a former Dave Ramsey follower turned cynic, if I’m being honest, after this recent economic downturn, his principles have started to look very appealing. I’m really starting to come around to the idea that slow and steady may in fact be the better way. Especially if you can find a career that you truly enjoy and don’t need to escape from.

[SeraphsWitness]

Dave knows what he's talking about. He's more than just a math/finance guy. That's what people miss in their conversations about him. He's explaining that people don't behave in purely calculated mathematical ways. That the world is more complicated than that.

Yes, in a vacuum with very predictable variables, debt is a much smaller issue. But in the real world, that's not how people operate. And that's his audience. The mainstream typical spender.

[barnabusdoyle]

Dave’s advice for getting out of debt and budgeting is god tier and has helped millions of people. His problem is that his view on debt is like the view on alcohol from a former alcoholic.

[olabashanda]

“The borrower is the lender’s slave” is so straight forward Proceed at your own risk. Including the axiom that risk yields reward.

[ToblerX]

I've used debt on almost every investment. But each and every time I'm thinking about the worst case. 'Do I have enough cash if shit hits the fan?" "What if the market drops 20%, 30% 50%?" Debt can be amazing or it can end you. You can never forget that.

[danh.]

There might be someone out there who finds that debt is good for them, but it certainly is not me. Thanks to Dave for helping to make debt a 4-letter word in my house. My wife, while slow to get on board, can see the benefits now of no payments, to anyone, anywhere, anytime. Debt-free since Jan. 2020.

[SpillCity]

I've been watching Dave Ramsey for years and have never heard him talk this in-depth about the ins and outs of the financial system. He does a great job of making it simple for people on his show/with his plan, but his knowledge is deep and impressive.

[APennyPinchersGuide]

What an excellent conversation! I've always wanted Dave Ramsey to address the concept of beta (risk) when dealing with leveraged investments, but never heard it on his podcast. Thanks Graham for putting this out there for us to all see!

[SportZFanLfe]

Before Dave Ramsey I was broke and living paycheck to paycheck. After applying his principles, I've had more money in my account than I've ever had. I'm sticking with Dave's Principles.

[Wildcat]

Studying finance and hearing Dave talk about Betas is pretty cool because I’m studying finance right now and learned about Alphas and Betas in my investment analysis class this year. Really cool to see stuff you learn in the class room talked about outside of it.

[NathansNostalgia]

I really appreciate getting the chance to hear Dave talk about debt besides his usual “Debt = Bad”. I would love to hear him talk a little more about his philosophy in this manner