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Thread: Dave Ramsey calls Peter Schiff an idiot

  1. #1

    Dave Ramsey calls Peter Schiff an idiot

    I was a little surprised by how harsh Dave was to Peter. I figured he'd be singing his praises since Schiff is about cutting spenidng, saving and being fiscally responsible. He really goes after Peter and his dad in this video. I guess we can add Dave to the growing list of "Peter Schiff is right" videos.

    YouTube - Dave Ramsey calls Peter Schiff an idiot

    I like Dave as far as it goes to getting out of debt and modifying your behavior and not getting back into debt. Beyond that I can leave him. I think his blind faith in the dollar is a fool's errand. I find it interesting that at first he doesn't know who Peter is, but he goes off on him big time while singng the praise of Glen Beck. Just proof that Dave is a coroporate shill.



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  3. #2
    that is $#@!ing ridiculous.. I would have half a mind to beat the $#@! out of ramsey for that.


    not a lot of things get me angry like someone talking $#@! about Irwin Schiff and Peter..


    $#@!.
    The ultimate minority is the individual. Protect the individual from Democracy and you will protect all groups of individuals
    Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law' because law is often but the tyrant's will, and always so when it violates the rights of the individual. - Thomas Jefferson
    I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.

    - Bene Gesserit Litany Against Fear

  4. #3
    I want to listen, but then again I don't. Why get mad? I never liked that guy no watched his show anyway.

  5. #4
    Dave Ramsey is a nutcase.

    Peter already got it right - the market was cut to less than 50% of what it was worth at the top.

  6. #5
    Dave Ramsey once said that Ron Paul was "creepy."

    He is irrelevant in my book. I prefer Clark Howard.

  7. #6
    I don't think that I am going to watch it but is it because of Schiff on gold and taxes? I know Ramsey doesn't like gold and some Christians falsely believe that paying taxes is the right thing to do.

  8. #7
    The video should have ended with, "On X day, the market crashed by X points." Hahahaha
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  9. #8
    Ramsey is the Dr. Phil of debt management on a case by case basis. All his macro-economic stuff I've heard was lame. Only good general micro-economic advice I distilled from him was to have a $1000 cushion in your account no matter what, but that was about it.

    He's grand-standing probably.
    When a trumpet sounds in a city, do not the people tremble?
    When disaster comes to a city, has not the Lord caused it? Amos 3:6



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  11. #9
    The problem with a lot of financial advisers, both in the media and the workforce, is that they have a purely financial education. People like Ramsey, Suze Orman, or Ric Edelman obviously know a ton about how manage your personal finances, especially outside of your investment choices, but they aren't trained in economics. They all thought as long as you were properly diversified that it would turn out to be ok. And they were all wrong. They also reject a lot of economic advise on the basis that market timing is bad. Random market timing is bad but basing your orders on economic data is different.

  12. #10
    I actually like Ric Eidelman. Ric Edelman. I learned a lot from him, reading his books after I graduated from college. I'd probably be destitute if it wasn't for him.

    His books are currently helping my parents with their estate planning also.

    Ric doesn't claim to be an economist so, unlike Ramsey, I think he's got a lot of integretty.

    For the record -- he's been recommending to have over 20% in foreign stocks for quite some time now too. Precisely because that could be the sector where the huge gains will come this decade. If you don't claim to have inside knowledge like libertarians do for why the dollar is eventually going to crash -- that's pretty good advise. If, based on macro-trends you do believe that, they you probably will want more then 20%. But based on his belief that you can't really know, 20% is much higher then most financial planners. It's pretty good in my mind.

  13. #11
    I like him too. The Lies About Money was very interesting and his radio show is pretty good too. He's been big proponent of getting into ETFs and out of mutual funds which has saved a lot of people a lot of money.

    On his show, he says he is constantly looking for signs of inflation. I'm just not sure he'll be able to find the signs soon enough. He seems to be a big cheerleader that the economy is getting better and he often ignores the signs that it is still getting worse. As far as purely financial shows go, I think he's definitely the best of the mainstream. He's also a very entertaining guy to listen to.

  14. #12
    Quote Originally Posted by sluggo View Post
    Dave Ramsey once said that Ron Paul was "creepy."
    http://www.ronpaulforums.com/showthr...ghlight=ramsey
    http://www.ronpaulforums.com/showthr...ghlight=ramsey
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  15. #13
    Dave was wrong to name call. Not only is it irresponsible but it's just rude and causes people to lose credibility in Dave.

    Dave is right that long term investing is best done through the markets etc. And he is also right that almost everytime someone says the market is going to crash, they are wrong. However in this particular instance, Peter Schiff got it right.



    Dave's problem is that he tries to fit every square peg into a round hole.
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  16. #14
    Quote Originally Posted by Matt Collins View Post
    Dave was wrong to name call. Not only is it irresponsible but it's just rude and causes people to lose credibility in Dave.

    Dave is right that long term investing is best done through the markets etc. And he is also right that almost everytime someone says the market is going to crash, they are wrong. However in this particular instance, Peter Schiff got it right.



    Dave's problem is that he tries to fit every square peg into a round hole.
    agreed.

    Also anyone in Dave's position who resorts to name calling is a f%$##%$ ......

  17. #15
    Quote Originally Posted by jtm845 View Post
    I like him too. The Lies About Money was very interesting and his radio show is pretty good too. He's been big proponent of getting into ETFs and out of mutual funds which has saved a lot of people a lot of money.

    On his show, he says he is constantly looking for signs of inflation. I'm just not sure he'll be able to find the signs soon enough. He seems to be a big cheerleader that the economy is getting better and he often ignores the signs that it is still getting worse. As far as purely financial shows go, I think he's definitely the best of the mainstream. He's also a very entertaining guy to listen to.
    I've never listened to Ric, what networks is his radio show on?

    Tracy

  18. #16
    I'm a "Nut Burger" I guess..
    Newt Gingrich

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  20. #17
    I forget, but it's on in a pretty good number of cities. I actually subscribe to his podcast on iTunes. It's broken into two one hour segments. It airs every Saturday and podcast is usually up on Monday. The show is split between monologues and call in questions. He has a lot of good insights on the tax system, IRAs, and personal finance management, so even if you disagree with a lot of his investment advice you'll still be able to get some useful knowledge out of it. He's been pretty good with calling out a lot of the big corporate scams too. Like you said, he has recommended diversifying into foreign markets and metals, so he's definitely better than the average mainstream commentator.

  21. #18
    Christians love him. I dunno what that means, and I know little about him. Everyone I talk to at my church swears by him.

    Also, they all lost their shirt in the collapse.
    "Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank...You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out."- Andrew Jackson (The Guy on the 20)

    www.micahnelson.com

  22. #19
    Someone should call in and ask him his opinion on Schiff and "Crash Proof" now.

  23. #20
    Just my opinion, but I have always thought Ramsey lived way too much in his own isolated universe. His "get out of debt" advice is okay, but I've never agreed with his view that one's credit score doesn't matter. Pretty close to half of employers check credit scores as part of a job application review, and most major insurance companies use credit ratings to set premiums.

    Most important, as a self-professed born again Christian, I would think it would be beneath him to resort to name calling. "Creepy?" I see nothing constructive in that criticism.

  24. #21
    wtf, did he imply that David Walker is a kook too?

    I mean, I dont know what Walker is doing running around with the Peter Peterson foundation, but thats sort of separate from his analysis on our deficits.

  25. #22
    Keep in mind that Peter Schiff is his "competition". They both offer financial advice and Ramsey was probably pissed Beck had him on in the first place. Dave Ramsey has a number of issues himself so you'd think he'd be a bit hesitant to smear someone he admitted he didn't even know in the beginning of the show let alone ascribe to Schiff his father's characteristics.

    I don't like Ramsey, he comes off as a televangelist that decided to do financial advice instead.
    "We took it in the shorts with Bush-Cheney, the Iraq War, and by sacrificing fiscal responsibility to hold power.”
    ~John Boehner, GOP Minority Leader

    "Take out all this movement stuff. There is no movement.... Look, I know this probably sounds arrogant to say but I redefined the Republican Party." ~President George W. Bush to speechwriter

  26. #23
    OMG that was hilarious! Has that dolt apologized to Peter like Ben Stein graciously did?



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