This long profile of the national radio show host and financial author has a lot of detail about his advice and his views about the country.
From the discussions he has every day, Ramsey says, the once-bitten-twice-shy mentality is creating a whole new set of problems. For one, people reluctant to invest have missed out on a long run of stock market success. And it has created a kind of resentment gap. “The S&P went up 19.4 percent last year. But a lot of people did not have money in their 401(k) mutual funds because they lost everything in 2008,” he says, putting air quotes around what he calls an emotionally exaggerated sentiment. “If you have no money in the market, the market could triple, and it doesn’t affect you. It just makes that rich guy over there who I’m mad at that much richer.”