Personal finance expert Dave Ramsey took a swing at the media in a recent segment of “The Dave Ramsey Show,” claiming news outlets are more focused on pushing fear than accurately reporting economic recovery.
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‘All the Losses Have Been Completely Recovered’
Ramsey emphasized that the market had returned to its earlier levels. “We’re about even from the first of the year now,” he said, arguing that this key point is being overlooked by the media. “All the losses have been completely recovered from Jan. 1.”
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Ramsey pointed to the stock market's rapid rebound following news that the Trump administration had reached an agreement with China on tariffs. “As of this moment, the stock market is shooting through the roof,” Ramsey said. “Huge rebound in the last two days.”
Just weeks ago, he reminded listeners, media headlines warned that Trump’s tariff negotiations would ruin the economy. “Y’all remember that we were all going to die about a month ago? That the world was coming to an end?” he asked sarcastically.
“See if you find one positive news story about it going up,” Ramsey challenged. “You won’t find one.”
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‘They Just Want You Addicted to Fear’
Ramsey accused the media of thriving on fear-based narratives. “They really don’t report the news. They’re just in the fear porn business,” he said. “If the tornado isn’t going to kill you, you’re going to lose all your retirement. Or there’s going to be a hurricane, or an earthquake, or all of the immigrants are going to kill you. Something’s going to kill you. That’s all they do over and over and over.”
He recalled how, after the Sept. 11 terrorist attacks, the stock market dropped sharply but fully recovered in just 54 days—a milestone he says went unreported. “Not one news outlet reported that America’s economy is so vibrant, so strong,” Ramsey said.
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Quit Freaking Out and Stay in Your Mutual Funds’
Ramsey advised investors to stop reacting emotionally to short-term market fluctuations. “Quit buying and selling your stock. Just get in your mutual funds and stay in and ride. This is how people build wealth,” he said.
He warned against the emotional pull of headlines and clickbait. “You’re not going to find a report. If you do, it’s one in a bazillion.”
Co-host Ken Coleman highlighted the difference between the economy and the stock market. “That’s a speculative game,” the guest said. “What we’re seeing on Wall Street is not the same as the health of the American economy.”
Ramsey wrapped up with a memorable analogy. “In a given week, it’s a four-year-old having a temper tantrum in the cereal aisle because the Froot Loops aren’t right there. In a given decade, the stock market’s a wise old woman.”
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