I’m Over $1,000,000 in Debt! (What Should I Do?)
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Welcome to The Dave Ramsey Show like you’ve never seen it before. On this channel, you will find all of the greatest highlights from The Dave Ramsey Show! The show also live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from our Ramsey Personalities —as well as all kinds of other video pieces that we’ll unveil every day.

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I’m $137,000 In Credit Card Debt!
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Welcome to The Dave Ramsey Show like you’ve never seen it before. On this channel, you will find all of the greatest highlights from The Dave Ramsey Show! The show also live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from our Ramsey Personalities —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

Lets discuss the ever growing national debt, whether or not this is a concern, if it’s a bubble, and how this affects your money and investing for the future – enjoy! Add me on Instagram: GPStephan

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The United States is, at its core…kind of like a business. It has what’s called a GDP, which stands for Gross Domestic Product – and that’s the entire market value of all the goods and services produced within the United States..the purpose of this is to measure the economic output of our country, see if we’re GROWING as a society, and when that number goes up – it tells us that incomes are increasing, and people are spending more.

Now, this is important because – ALONGSIDE that GPS – includes all of that revenue that the country makes to keep itself running. After all, roads need to be built, the military needs to continue running, police and firefighters need to get paid, like buttons need to be smashed…and so on. Now, a lot of those types of services are all paid for through our tax dollars – and, just with any business, there are going to be times where there isn’t enough tax revenue to pay for all the services that we get.

Typically, this is done through issuing bonds and treasury bills – which is just a fancy way of saying: The government will pay people interest if they loan it money. And that loan is guaranteed by the United States, which – lets be real – it’s pretty much guaranteed to pay it back, so people see this as a really, REALLY safe investment.

But – in terms of who actually BUYS and OWNS this debt: here you go:
https://www.marketwatch.com/story/heres-who-owns-a-record-2121-trillion-of-us-debt-2018-08-21

So, here are a few concerns that frequently get brought up:

One: If interest rates begin to rise, the cost of holding on to that debt become more expensive. Right now, since interest rates are next to nothing…the United States holding on to $25 trillion worth of debt isn’t much of a concern. If anything, it’s BETTER to hold more debt at a time where interest rates are low…than it is to hold LESS debt when interest rates are high – just because, with low rates, that debt is cheaper to keep.

BUT…if interest rates were to be at 4%…that debt would begin draining money from other resources, and when the United States needs to figure out how to raise more cash – the worry is that they’ll do it through higher taxation.

Two: The other concern is we just carry on as usual…and then leave it up to future generations to worry about. Maybe THEY’LL be the ones that are taxed higher, maybe THEY’LL be the ones with less money spent on public services…or, we can leave it to them to keep kicking the can down a little further until our Grandkids do something about it.

In terms of whether or not we should be worried about our debt…the answer is, PROBABLY NOT.

When we look at our debt in relation to how much money we make…we’re actually a LOT lower than quite a few other countries. You can see here that, sure, we might OWE the most amount of money…but, we also MAKE quite a lot of money, as well:
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt

Secondly, I think it’s assumed that the plan of action here is to keep interest rates low, and then let inflation do its thing – as long as our economy continues to grow, and innovate…that debt will just sit there, whittling away, assuming we don’t keep adding to it.

And really…because of that there’s no REASON to pay off the debt early. Why would they?

HOWEVER…where I see the biggest obstacle, is IF people stop investing in the United States, and we stop growing as fast as we have been…then the United States will be forced to pay higher interest in their debts to entice more people to lend money, and THAT – in turn – would almost certainly mean higher taxes in the future.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

I’m $180,000 In Student Loan Debt!
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Welcome to The Dave Ramsey Show like you’ve never seen it before. On this channel, you will find all of the greatest highlights from The Dave Ramsey Show! The show also live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from our Ramsey Personalities —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

As the coronavirus pandemic deepens, millions of Americans are skipping their credit card payments. In response, banks and other lenders are preparing for further economic fallout. CBS News business analyst Jill Schlesinger joined CBSN with more.

Is there such thing as good debt? And how could something good cause so many issues? On top of this is there anyway that we could just run an economy without debt and would we be better off for doing so. Well it turns out we probably can, and in fact there are many economies around the world today that are developing rapidly while going without this system that we just assume is a given.

If we can critically explore these questions it will offer insight into how our modern financial system works, and why it means that despite our best efforts we are almost destined to go into a recession once every 10 years or so.

#debtcrisis #recession #economy

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References –

Harris, M. and Raviv, A., 1990. Capital structure and the informational role of debt. The Journal of Finance

Chava, S. and Roberts, M.R., 2008. How does financing impact investment? The role of debt covenants. The journal of finance

Holmstrom, B., 2015. Understanding the role of debt in the financial system.

Frost, C.A. and Bernard, V.L., 1989. The role of debt covenants in assessing the economic consequences of limiting capitalization of exploration costs. Accounting Review

Ariff, M., 1988. lsIamic banking. Asian?Pacific Economic Literature

Articles –

https://www.theguardian.com/business/2019/jan/05/global-economic-crash-2020-understand-why

https://www.washingtonpost.com/

https://www.theguardian.com/business/2019/dec/29/its-more-than-a-decade-since-the-financial-crisis-wheres-the-recovery

Graham’s Video – https://www.youtube.com/watch?v=Uw3EhsmLe08&t=1385s

$163,000 In Student Loan Debt Only Making $29,000!
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Welcome to The Dave Ramsey Show like you’ve never seen it before. On this channel, you will find all of the greatest highlights from The Dave Ramsey Show! The show also live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from our Ramsey Personalities —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

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?Hey guys! Welcome to this incredible episode as Omar interviews multi-millionaire entrepreneur John Shin on his incredible story of overcoming all odds as an immigrant coming to the US & going from $500k in debt to building a 9-figure business in the financial management industry! Overcoming all odds & many failures, John ultimately used many of the principles he shares in this interview to turn around his life! Today, John is a successful family man, serial entrepreneur, producer, investor, philanthropist, author, speaker & is also currently on a world tour sharing the  “THINK & GROW RICH” message around the world! Enjoy ?

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In this Star Wars: Clone Wars episode, Ashoka Tano and the Martez sisters fight the Pyke Syndicate, bond a bit, and there’s a special Mandalorian cameo that is going to have huge implications later in the season. As always, we found plenty of Easter Eggs and references as well.

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Total worldwide debt is expected to continue growing over the coming months, despite having just climbed to a fresh all-time high. Given the three previous waves of global debt accumulation have all ended with financial crises, CNBC’s Sam Meredith takes a look at the risks associated with the latest build-up.

Read more:
https://www.cnbc.com/2020/01/14/global-debt-hits-all-time-high-of-nearly-253-dollars–iif-says.html
https://www.worldbank.org/en/research/publication/waves-of-debt
https://www.iif.com/Research/Capital-Flows-and-Debt/Global-Debt-Monitor
—–

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