* Jobs are a symptom and not the actual problem
* Jobs will come naturally after the economy bounces back and shouldn’t really be the focus.
* Don’t wait on the economy or your government. Adjust your attitude and go attack the job market.”

Point #3 seems to be wholly contrary to Points #1 & #2. First he says “it’s the economy, stupid!”, then he says “it’s you, you lazy bastard!”.

So yeah, I’d say it was pretty awesome. I was realy only disappointed when it ended. I could have watched for a few more hours!

Unfortunately, Dave he falls flat when he bad-mouths precious metals as “stupid.” His mantra that “metals are never used in the barter economies that follow disasters” is a straw man argument (though somewhat understandable, given that some metal and coin dealers seem to imply that metals will be money when the feces hits the fan).

Precious metals shouldn’t be bought/held primarily for a “social meltdown” scenario, but as an historically-reliable store of value.

A couple of ignorant things I’ve heard Dave say recently about precious metals:

• “They have no more intrinsic value than a shoelace.” (IOW, precious metals only have value because man assigns it value and does so arbitrarily — we could just as easily assign similar value to dirt!) I’m utterly amazed that Dave doesn’t grasp fundamental principles of value found in precious metals such as world-wide recognizability and desirability, ease of divisibility and transportability, and high value in relation to volume and weight.

• “Precious metals haven’t been a medium of exchange since the Roman empire.” This is simple ignorance of history. What does Dave think the value of US currency was pegged to — by law — until 1971? (Not to mention the fact that US quarters, dimes, and dollar and half-dollar coins were 90% silver until 1964!)

It is a paradox that, while preaching so faithfully against personal indebtedness, Dave won’t/can’t preach against our government’s indebtedness and the central-bank-issued fiat currency that aids and abets it. Dave is a Bible-believing Christian, and the Bible vehemently condemns theft by the use of unjust weights and measures, which is precisely what fiat currency is: “faith-based” money that is backed up by absolutely nothing and which results in that most insidious and invisible of taxes: inflation.

(Oh, incidentally, Dave has defined “inflation” as the increase of prices due to variables such as supply and demand. Yes, prices do indeed fluctuate as a result of supply and demand, but that is not inflation! Inflation is an increase in the money supply — i.e., the amount of money in circulation — at the hands of central banks and government-run printing presses and computers. When more money is pumped into the system via the printing press or electronic credits, it devalues the money already in circulation. Prices increases are merely in response to more money chasing the same amount of goods. Thus, long-term price increases are not inflation, but rather they are a symptom of inflation. The best example I can point to is the recent artificial boom in home values earlier this decade. This was the direct result of the ease with which more and more people were able to get loans. I.e., more money — in the form of credit — chasing after a fixed supply of houses. Greater demand = price increases.)

For a different — and more reliable, IMO — take on our current economic mess, I would urge you to spend some time reading the articles and watching the videos of Peter Schiff. Just Google him … you’ll find him. Like Dave, Peter is also “anti-debt” — but a few years ago, he predicted the current financial mess based on the fact that Americans and their government borrow endlessly to buy things they simply cannot afford. I.e., rampant consumerism and seemingly endless lines of credit.

BTW, Barry Broome wrote an excellent piece at his DebtPrison.net blog last year: “Dave Ramsey, Peter Schiff, and decline of U.S. Economy.” Broome also likes Dave alot — he features one of Dave’s books right at the top of his home page. But by way of comparison to Peter Schiff, he levies some fair (and gracious) criticism of Dave’s economic presuppositions. The article is great in itself, but be sure not to miss the 80-some comments that follow — lots of valuable insight there, as well.

I love Dave for what he does well, but he has a ways to go to understand the government-monetary-policy basis for the dire straits in which our nation currently finds itself.

Frank in Spokane’s last blog post..You don’t say …

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Those Dave Ramsey tips are ideas you can use in various aspects of your life, not just with finances.
Surround yourself with positive people, take action and be generous. Those are great life lessons.

Thanks again.
By the way, I found your site from Problooger’s 31 Days series.

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