Comments by "David Ford" (@davidford3115) on "NOT BUYING IT: J.P. Morgan strategist takes a contrarian recession view" video.

  1. Indeed. He is blatantly ignoring how the inflation is greatly devaluing people's savings.
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  2. We are experiencing Guatemala's economy in the 1980s.
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  3. "Figures don't like, but Liars figure," -Samuel Clemens, aka Mark Twain. Perfectly describes this guy.
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  4. BINGO! Think Guatemala in the 1980s.
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  5.  @rferg1533  He is only telling half the story. People are spending like Guatemala in the 1980s. Meaning that they are trying to convert their currency to something of REAL value before the inflation makes the currency worthless. Total dollars in people's bank accounts may be up, but their value and buying power is LESS than pre-pandemic.
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  6.  @rferg1533  The problem is that while there may be more dollars in people's bank accounts, those dollars are worth MUCH less than pre-pandemic. Which means the buying power of the saving is LESS. "Figures don't lie, but liars figure," -Samuel Clemens, aka Mark Twain.
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  7. Guatemala in the 1980s. When the value of your currency at the end of the day is half of what it was at the start, you try to spend it as quickly as possible.
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  8. Yeah, I think this guy needs to look at the reason why folks in Guatemala in the 1980s spent money as quickly as they got it; the value halved by the end of the day.
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  9. He is a typical banker that Tommy Jefferson warned about. All interested in playing a numbers game with inflation and deflation to erode buying power and enslave the grandchildren of the men who built this country.
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  10. Yeah, the interest rates are 3% while the TRUE inflation value is closer to 12%. The people who put money away into savings are seeing their nest egg being pilfered by the banking system.
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  11. He is only telling half the story. He is blatantly ignoring how hyperinflation is devastating the actual value of the money in people's bank accounts.
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  12. I am going to try this again because Youtube/Google called it "hate speech". Agreed. This guy is a typical investment banker of the kind Thomas Jefferson warned about when he said that lending institutions were more dangerous than standing armies. While the image of the "Evil banker" is still true, the one part that isn't is ethnicity; today they are all IRISH, ironically. And shalom and blessings on you and your house. (nesiat kapayim or "vulcan peace sign")
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  13.  @rferg1533  But those dollars are worth significantly LESS. Which means the buying power and value of people's savings is LESS than pre-pandemic. He pointed out the spending, yet ignores that the reason for it is because people want to convert their currency into something of value before it depreciates. Guatemala experienced the same thing in the 1980s where people wanted to be paid in the morning and buy their groceries early before the hyper-inflation cut the value of the peso in HALF by the end of the day.
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  14.  @blondelion7918  Yeah, inflation has caused the buying power to be as much as HALF of its pre-pandemic value. That is where this guy is lying through his teeth.
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  15. We didn't. The government simply gamed the numbers and changed how they are recorded in order to pretend that there was a recovery.
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  16. "Figures don't lie, but liars figure," -Mark Twain, aka Samuel Clemens Yeah, these investment bankers are looking at the raw numbers but ignoring the context. Inflation halving the value of money means that the buying power is LESS despite having more currency in the bank.
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