Valuetainment - “Corporate America SCREWED You” - Dave Ramsey WARNS Gen Z PRICED OUT Of Housing Market

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00:00:30.000 I'll go to the Dave Ramsey story. Dave Ramsey warns young people, locked out of housing market, corporate America has screwed you.

00:00:39.220 Rob, do you have the clip on Dave Ramsey or if you want to play this clip?

00:00:43.140 Here's what Dave Ramsey had to say about it. Go ahead.

00:00:46.080 This is that corporate America has screwed you. Car debt is at an all-time high.

00:00:51.600 The car companies have now got you signing up for $1,200 car payments.

00:00:55.180 Student loan debt is at an all-time high.

00:00:57.960 And this is Gen Z and millennials.

00:01:00.340 And, of course, credit card debt, thank you to the big banks, is at an all-time high. 0.93

00:01:05.100 When you're drowning in personal debt, you can't afford to buy a freaking house. 0.64

00:01:09.760 And that's what's happened.

00:01:10.900 We've had these big companies, the car companies, the banks, and Congress with the student loan debt, 0.56

00:01:15.740 screwing these two generations at a record like never before.

00:01:19.560 And so what we're finding is we're finding lots of Gen Zers, lots of millennials, 0.99

00:01:23.640 able to buy a home when they fight through and sell the stupid car and get rid of these debts. 0.96

00:01:30.040 Do you think that that's why they're maybe not going out there and buying those first-time 0.98

00:01:34.400 homes? They're looking to other investments? Well, they're not looking at other investments.

00:01:38.120 They're broke. Their disposable income has been eaten up by those three categories I was talking 0.86

00:01:42.540 about. Again, car debt is out of control. Our message to Gen Z, I think he's talking his book

00:01:49.040 to some degree. You know, certainly there is a lot of debt out there. We've seen that. You're

00:01:52.700 thinking he's selling a book right now i think he's just talking his book his whole thing is

00:01:55.960 you're going to get you out of debt i'm going to get so that's his whole for sure that's a good

00:01:59.100 point okay so but he did make some good points and clearly the evidence is there that we have

00:02:04.000 seen credit card debt rise rather significantly i believe it's up 22 over the past four or five

00:02:10.080 years so we we have seen a big jump up in credit card debt in the amount that you're carrying so

00:02:14.900 that has a that has a you know a very poor effect on your overall ability to purchase a home

00:02:20.640 But I do believe that what we really need to look at is on the overall picture, if I'm looking to purchase a home right now, my down payment is definitely part of that problem, is the down payment I have to come up with the savings.

00:02:37.620 Also, my psyche is another one because I'm hearing all this negative stuff about the housing market.

00:02:42.460 And many people don't have the education.

00:02:44.500 Some people think you need 20% to buy a home.

00:02:46.300 They don't realize you could buy a home with 3.5% or 5%.

00:02:48.940 If you ask, I think there was a survey that was done by Realtor.com, about half the individuals that are asked to buy a home, they think you need 20% down.

00:02:58.180 So there is an educational gap there in people entering the housing market.

00:03:03.680 That said, it's still a challenge to buy a home.

00:03:07.260 But what Ramsey is also talking about here is that this debt is something that is pushed upon people.

00:03:15.960 To some extent, it is.

00:03:16.920 You get 100 credit card offers in the mail.

00:03:18.940 But there also should be some financial education as well to make good decisions, too.

00:03:23.360 You know, it's it's it's both hands have to.

00:03:26.300 Well, we live in an instant satisfaction society.

00:03:29.520 And that's why.

00:03:32.060 And I've been railing against this.

00:03:34.960 Your credit cards now were about to hit one point three trillion or one point two eight trillion right now.

00:03:41.100 The numbers I saw, which was the January monthly calculations.

00:03:46.100 Number one.

00:03:46.640 Number two, BNPL had all kinds of default figures that were popping up in January.

00:03:53.180 What does that mean?

00:03:54.580 Well, it means that the Christmas and holiday purchases and post-holiday sales,

00:03:59.600 and you went and bought a big screen TV for another $1,000 and everything,

00:04:03.900 you know, at Best Buy and got it installed for your Super Bowl party,

00:04:06.780 and you put it on BNPL, and then you only made half of the first payment,

00:04:11.500 and you triggered the hyper-interest rate.

00:04:13.300 Look carefully at BMPL. If you don't pay those two, three or four very specific payments on specific dates, the slam bam that you get on the interest rate is insane.

00:04:25.740 It's 30 percent or more in some cases.

00:04:28.540 And so it's the part of it is, Pat, we can talk about student loans and manipulation of students and the cost of tuition and all rail against colleges that basically use the U.S.

00:04:39.620 government student loan program to raise tuition it's a monopoly we could talk about that yeah but

00:04:44.700 i'm going to stick with the consumer there's some common sense for the consumer and financial

00:04:48.660 education that's needed barry was alluding to because no no college manipulated you to spend

00:04:55.600 a thousand bucks at best buy on a big screen tv and put it on bmpl right nobody forced you to do

00:05:01.800 that so there's got to be some common sense on the consumer and i'll say all these people are

00:05:05.460 being victimized, victimized. That's not always the case. And the things that have happened to

00:05:12.340 car loans are correct. They kept stretching it out. I remember where I was when a friend says,

00:05:20.840 hey, I got a 60-month car loan. I say, you got a 60-month car loan? When I had bought a Ford

00:05:26.580 Escort after I got out of college, a little Ford Escort, cheap to insure, reliable, economical in

00:05:36.080 terms of gas. That was my criteria. It was a 48-month car loan with an option to bring it down

00:05:44.660 to 36. So you know what I did? I got my bonus and I put like an extra thousand dollars down

00:05:51.040 and i had a 36 month car loan so you still had 36 and 48 now look at the lengths of them

00:05:58.600 36 months now is oh you want 36 months lease it lease it this is what we're gonna do so the

00:06:04.900 consumer you know has to have a hand in their own salvation here in my opinion um and dave ramsey's

00:06:12.720 dave ramsey's right but to merely sweep it off and say oh corporate america has screwed you

00:06:18.160 Maybe there's some of that going on. But come on, Dave. Consumers have to have, you know, common sense.

00:06:24.080 You see a 400 pound person and you say the food got in there somehow.

00:06:28.480 Yeah. Brandon. Yeah. So I don't think it's just corporate America.

00:06:32.560 I'm using an analogy. But first, I'll say my base case is that I think boomers pillaged America, pillaged their generations after them, Gen X and millennials and Gen Z. 0.95

00:06:42.760 And I'll use the analogy that you guys have all done well for yourselves.

00:06:46.160 Do you think if you were to take out an amount of debt that exceeded your net worths by, like, 5 to 6x and then left your kids and grandkids with that, would that put them in a good situation?

00:06:56.760 Are you talking about the federal deficit?

00:06:59.540 Yeah.

00:07:00.800 Okay.

00:07:01.320 Well, you could say that for the last three generations, right?

00:07:04.740 Yeah, going back to boomers. 0.65

00:07:05.980 So boomers, but boomers have been running Congress. 0.99

00:07:09.840 I don't like to generalize all boomers as pillaging.

00:07:11.640 I don't like that.

00:07:12.160 No, well, it's obviously not all of them because not all of them control society,

00:07:15.380 but the ones that are in politics, the ones that are in business,

00:07:17.620 the ones that are in monetary policy.

00:07:19.900 So when I say boomers, I'm saying the boomers that run society. 0.98

00:07:23.060 Okay, so it's not boomers.

00:07:24.120 No, like a lot of people have no idea what's going on,

00:07:26.320 but people aren't as aware of what's going on as they should be.

00:07:29.660 What's your question? Go back to your question.

00:07:30.840 My question is, so if you start off in a strong position,

00:07:35.520 but then you take out an amount of debt to pull a lifestyle forward

00:07:38.920 that you want to exceed your current capacity for a lifestyle.

00:07:41.540 Meaning, are you talking house or college?

00:07:44.960 For the analogy I used?

00:07:46.320 Yeah, the analogy you used.

00:07:47.260 Just like for this style.

00:07:48.420 If you're this age, you buy this, you buy this, what do you do?

00:07:51.920 So I'm talking for standard of living.

00:07:54.000 So say you're doing well, but you're in the top 1%,

00:07:57.960 but you want even more than you have.

00:07:59.840 You take out an amount of debt that exceeds your net worth by 5 to 10x

00:08:03.160 or exceeds your yearly income.

00:08:04.140 To buy a house.

00:08:05.040 Yeah, to buy a house, to buy boats, to buy cars,

00:08:07.300 and then your kids end up getting left with that debt.

00:08:09.340 So you start off with like a high.

00:08:10.740 You also have the asset.

00:08:11.540 Yeah. We have assets here, but our debt exceeds our yearly revenue. Our tax revenue is like $5

00:08:18.600 trillion. Our debt's like $40 trillion. So it wasn't always the case that our national debt

00:08:23.480 exceeded our annual revenue. So I'm saying that the reason our standard of living has gone down,

00:08:27.820 the reason our disposable income has gone down is because the generations prior to us have pulled

00:08:31.760 forward money from the future to themselves, inflated assets. Now those assets are much

00:08:38.640 more expensive. Is that available to you? Are those options available to you? To pull wealth

00:08:46.300 forward like that? Yeah. Are those options available to you? We're still doing it, yeah.

00:08:51.920 And like the last five years, for example, we're technically pulling wealth forward from the

00:08:55.860 future when we're printing a couple trillion dollars. To me, there's two things. There's

00:08:59.560 two things on how I process that. One way I process that, Brandon, is you and I, in every

00:09:07.220 sales organization there's comp plans and sales organizations will often change comp plans yeah

00:09:14.020 and sometimes when why do they change comp plans let's go reason why sales we've all been in sales

00:09:18.700 so why do sales organizations change comp plans think about it one they realize they're overpaying

00:09:23.740 two bad habits were being created by sales guys and it was affected they were like gaming the

00:09:29.340 system three to produce better quality clients that stay on the book so it's a long-term valuation

00:09:35.260 versus short-term, but why do they change comp plans?

00:09:37.860 There's a reason why they change comp plans.

00:09:39.360 And I'm going to tell you one other thing why they change comp plans

00:09:41.200 that goes to you.

00:09:42.540 Sometimes they change comp plans that benefits the guys that no longer work. 0.88

00:09:46.700 The guys that are like, man, I haven't done shit for a while,

00:09:49.840 but, dude, change the comp plan to benefit. 0.78

00:09:51.200 I was in a company that changed the comp plan for the guys

00:09:54.080 that were no longer working.

00:09:55.260 They just wanted more to go to them, that they're no longer working.

00:09:58.800 Okay.

00:09:59.820 Regardless of what happened, you have a couple choices.

00:10:03.600 either you maximize that comp plan and eventually have so much clout and voice

00:10:09.140 that you can what?

00:10:10.600 Impact the comp plan.

00:10:11.980 Yeah.

00:10:12.420 I don't know if that made sense.

00:10:13.520 It does.

00:10:13.660 So go maximize whatever the current comp plan you have,

00:10:18.200 then get moral authority,

00:10:20.240 then go talk about it and then do something about it.

00:10:23.800 Those are really your options.

00:10:25.140 Yeah.

00:10:25.380 You know what I'm saying?

00:10:25.880 Yeah, and that's what I'm doing.

00:10:26.800 And I love that.

00:10:27.740 I'm just making it clear to everybody.

00:10:28.840 I want you to keep doing that,

00:10:30.340 But a part that what Tom and Barry are saying is that the guy, in my opinion,

00:10:39.220 the guy, there's a saying, I took my kid to a tryout

00:10:41.860 with one of the most well-known soccer teams here.

00:10:44.640 And one of the coaches shows up.

00:10:46.480 And these kids are talking about, well, that kid's going to be younger next year.

00:10:49.640 And that kid, the new age thing that they're doing is going to go this.

00:10:52.340 And the coach said one thing that shut every parent up.

00:10:56.600 You know what the coach said?

00:10:58.260 Very simple line.

00:10:59.400 he said if you're good enough you're old enough so no parent could say anything about their son

00:11:06.560 because every parent thinks their their son is what the greatest the greatest and it's like no

00:11:10.620 we have 12 year olds that are beating 16 year olds we have 10 year olds that are doing laps

00:11:16.180 around 14 year olds so guess what if your kid is good enough you're what you're old enough yeah

00:11:24.020 So what's the point?

00:11:25.940 I have a feeling the guys that made it in the 70s would have made it in the 90s,

00:11:32.040 would have made it in the 2010s, and would have made it in 2026.

00:11:36.000 Why?

00:11:36.740 What do they have?

00:11:38.120 They're going to find a way to make the current tax system

00:11:40.560 and comp plan work in their favor.

00:11:41.840 And I will lean towards that mindset than anything else.

00:11:46.000 Like, you know, just yesterday we're doing some math on athletes, right?

00:11:50.020 Like if you're an athlete, you play for four different teams.

00:11:52.840 I made this video and I was talking about it.

00:11:54.300 But let's just say somebody makes $200,000 a year.

00:11:57.160 And over the next 10 years, what's your income going to be next 10 years?

00:12:00.120 What are you going to make?

00:12:00.900 $2 million.

00:12:01.760 Okay.

00:12:02.460 So if you live in California on that $2 million, you're going to pay an additional 13.3% in taxes.

00:12:10.700 What's 13.3% in taxes over 10 years?

00:12:15.000 What's 13.3% on $2 million?

00:12:16.920 $260,000 if you don't count for the growth of it.

00:12:19.400 That's right.

00:12:20.200 $260,000.

00:12:20.960 In New York, it's $250,000.

00:12:23.600 By the way, if you lived in Texas, Tennessee, Nevada, Florida,

00:12:28.800 what happens to that $250,000, $260,000 in your pocket?

00:12:32.820 You take that $260,000.

00:12:35.120 You use compound interest at 4%, 8%, 11.5%,

00:12:38.980 which is what the S&P has done the last, you know, what do you call it, 40 years.

00:12:43.320 Rob, run this calculation.

00:12:45.760 $260,000 40 years from now at 4%, at 8%.

00:12:50.960 percent at 11 and a half percent what does it turn into now let me tell you where i'm going with this

00:12:54.840 i don't have to live in california yeah i don't have to live in illinois i don't have to live in

00:13:02.560 new york so well you don't understand i'm a true new yorker my family are true iranian armenian

00:13:08.620 assyrian but they chose to go somewhere where their kids are going to have a better career

00:13:12.680 okay and they're going to do better for themselves not in four years rob in 40 years yeah in 40 years

00:13:17.880 Easy way to do it is you have that many doubles.

00:13:20.600 You use the rule of 72.

00:13:21.400 Yeah, I totally get that.

00:13:22.580 But to me, if I'm going to that in, you know, 260 years and just put in 40 years,

00:13:27.640 here's what you'll see.

00:13:30.540 The 4% turns into 1.2, 8% turns into 5.6, 12% turns into 24 million.

00:13:37.660 You living in New York or California, making $200,000 a year costs your future kids

00:13:44.240 generational wealth of potentially $24 million.

00:13:47.580 That's your decision.

00:13:48.540 Nobody told you to do it.

00:13:50.120 So to me, a lot of this stuff, when they go into poor me,

00:13:53.600 you don't understand all this stuff.

00:13:54.680 I get it.

00:13:55.500 It's a message.

00:13:56.560 But if you're using that the reason why you're losing, not you,

00:13:59.780 because you're a worker.

00:14:00.860 You're one of the hardest working guys in the building.

00:14:02.560 But some kids or young men and women who use that as the reason why they're not winning,

00:14:09.040 that's exactly the mindset why you are in the situation that you are in right now.

00:14:13.080 You've got to change it.

00:14:14.260 You've got to go to a climate where your peer pressure challenges you to work better,

00:14:18.600 to make better decisions.

00:14:19.880 I'll go to this next story to be thinking about, and it's about Claude.

00:14:22.960 Can I give one quick thing on that?

00:14:24.180 Yeah, go for it.

00:14:25.000 So I totally agree with you on that, but the fact of the matter is that the rule of 80-20,

00:14:30.020 80% of people are just regular people, and I'm not concerned about myself at all.

00:14:34.600 I know exactly what I need to do to get where I want to get,

00:14:36.540 but people who are just average people that are trying to work a job,

00:14:39.460 like back in the day they could have an okay standard of living.

00:14:41.960 Right now, those people are going to get eviscerated, and that's not good for a society.

00:14:45.000 Can I ask you a question?

00:14:45.760 Yeah.

00:14:46.000 How many of those guys have taken a Claude course that's six months to learn how to use Claude?

00:14:49.900 Probably not enough of them.

00:14:50.640 Then whose fault is that?

00:14:51.540 Yeah, theirs.

00:14:52.060 But here's what I'm saying.

00:14:53.420 Is the information out there for everybody?

00:14:55.580 Probably more than ever.

00:14:56.920 Don't tell me you don't have an opportunity.

00:14:59.300 Right.

00:14:59.620 Like my kids, if they're going to come to me and talk about you don't understand.

00:15:02.580 No, no, you don't understand.

00:15:04.540 Forget about the challenges.

00:15:07.400 Every generation, we're all going to have different challenges.

00:15:10.580 You know, the silent generation, which is what? 0.97

00:15:12.640 The 20s, right?

00:15:13.340 Great Depression.

00:15:14.340 That generation had different problems than the ones.

00:15:16.280 Would you rather be your generation or a silent generation?

00:15:19.500 Think about it.

00:15:20.500 The silent generation went through what?

00:15:22.560 Holy moly.

00:15:24.480 You're talking about a scary time, food.

00:15:29.160 We're sitting at night.

00:15:30.560 You've been wearing the same clothes for three years.

00:15:33.120 Break bread.

00:15:33.780 This is your piece, your piece, your piece.

00:15:35.880 Hey, guys, I'm just going to try to go make some money today and come back.

00:15:38.700 they found a way they found a way every generation has to face a new crisis that you have to find a

00:15:45.860 way to overcome you have to find a way to overcome claude comes out with anthropic okay i'll read

00:15:50.960 this to you okay anthropic said and what's crazy is it sounds like i'm preaching at him or lecturing

00:15:56.520 him you guys should see how this guy works i'm not even kidding with you why do you think he's

00:16:00.560 the young guy that's on the podcast why do i put him on here you think i put him on here because

00:16:04.160 you know, I put him on you because he's smart

00:16:06.400 and he works his ass off 0.90

00:16:08.300 in the building. He has that reputation

00:16:10.200 and you know, he has a reputation of a guy

00:16:12.340 that's smart, he's a reader, he's always working on himself

00:16:14.280 that message is not to you. You're

00:16:16.400 going to be fine in life. That message is

00:16:18.280 to a 26 year old that's listening to you

00:16:20.360 right now. Yes, Brandon is speaking on our behalf

00:16:22.320 but they don't work as hard as you're working

00:16:24.380 so they can't sit there and say

00:16:26.200 you're playing video games and streaming

00:16:28.060 feeling sorry for yourself. Get off your ass 1.00

00:16:30.380 and do something with your life. That 1.00

00:16:32.160 messaging is evergreen no matter what the time is 51 of you consume the content here on the podcast

00:16:38.580 we have not subscribed we'd like to take pbd podcast to 5 million subscribers we're at 2.9

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00:16:54.620 if you enjoy what we do you support the conversations that we have click on that

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00:17:20.540 on how high we can go on the building that we're going to build here to house a couple thousand

00:17:24.040 employees. We're hiring aggressively. Rob, if you want to play the clip for some people that just

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Valuetainment - March 26, 2026

“Corporate America SCREWED You” - Dave Ramsey WARNS Gen Z PRICED OUT Of Housing Market

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