Dave Ramsey - “Maybe a whole generation will wake up and realize that collecting points on your Discover card doesn’t make you rich.”
March 14th, 2008 | by admin |Dave Ramsey mentioned in Time’s Future Revolutions #8 … The New Austerity By JUSTIN FOX
Journalists and others with a tendency to see glasses as half empty have a long history of pronouncing the American consumer maxed out. “Time for a New Frugality,” this magazine declared in 1973. “Over the Ears in Debt,” it chimed in again in 1987. It wasn’t just TIME. Historian of credit Lendol Calder has assembled a long list of worried headlines through the decades: “Debt Threatens Democracy” (Harper’s, 1940), “Is the Country Swamped with Debt?” (Business Week, 1949), “Never Have So Many Owed So Much” (U.S. News & World Report, 1959). And so on.Amid all this hand-wringing, Americans have kept piling on more and more debt. The last significant episode of belt-tightening came during the recession of the early 1980s. But that turned out to be just the prelude to a quarter-century of growing profligacy, capped by a final half-decade of mostly mortgage-related fun that will go down as one of the most reckless borrowing-and-lending binges ever.
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“People are more aware than they were two years ago,” says get-out-of-debt guru Dave Ramsey of the callers to his radio show, which airs on 350 stations around the country. “I don’t know if they’re doing anything about it.”
Ramsey, who also has written a couple of best-selling advice books and is a regular on the new Fox Business Network, does allow himself to dream. “It’s like a whole generation woke up one morning and realized that cigarettes kill you,” he muses. “Maybe a whole generation will wake up and realize that collecting points on your Discover card doesn’t make you rich.”
FULL TIME ARTICLE … Future Revolutions #8 … The New Austerity
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