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The Ramsey Show Highlights

Is the US Really in a Recession? – Dave Ramsey Rant

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5839 Ratings

🗓️ 12 August 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

brought to you by the every dollar app start budgeting for free today a cnbc princess article

0:07.6

is the u.s. in a recession of course we're in a political season so uh the republicans are saying

0:13.2

that the democrats have ruined the economy uh that's part of running for office about three

0:18.4

and five amer Americans think so.

0:26.4

By most measure, the U.S. economy is doing well, and yet many people would argue,

0:30.2

otherwise roughly three and five Americans believe that the U.S. is currently in a recession according to a new survey of 2,000 adults by a firm.

0:34.3

See, I don't understand.

0:36.9

All this means is you people, some of you they

0:39.5

are, freaking illiterate. Okay? Because a recession is not a feeling.

0:49.1

That needs to be your post of the day, Dave, which I know you spend lots of time contemplate.

0:54.0

There's an economics.

0:55.7

If you take economics, and if you're going to use words like recession, that's an economic term,

1:02.2

you should understand the definition of the word is two consecutive quarters of the gross domestic

1:08.2

product, which is the measure of all goods and services in the U.S.

1:11.5

shrinking.

1:13.0

If the economy recedes, shrinks by the measure of the gross domestic product, two consecutive quarters,

1:22.0

we are in a recession.

1:24.8

If it didn't, we are not. It's a math thing. You don't, one plus one, I'm not sure. I don't

1:34.9

feel like it's two. I'm not sure if it's two. And my feelings matter. I love the idea about the

1:40.8

question. My feelings matter. Even the question. The question is wrong.

1:45.2

What do you? Do you believe we're in a recession? You dumb, but, don't you know what this is?

1:51.3

It's you either is or you isn't. It's a math thing. Hi, this is John from the John Deloney show. Do you believe the sky is orange?

...

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