Start buying some Gold and Silver before it's too late. The worse the world economy is, the better the Prescious Metals will perform. When the Brexit actually finanlizes, it'll triple the current value of around $1500 dollar/ounce.
@@FairScale-tx1qv Brexit hasn't that much impact. Because it informed to market pretty well enough. And the economy will go well at least a year or even 2 or 3 years. There is still much stimulation ways for economic growth such as rate cut, revamp the Volcker rule, etc. It is not the Metal time.
@@loveall7280 funny though cause its kinda beautiful... he is so smooth... I would like to see what he is doing with his personal money.... he sounds like an entertainer actor... just so smooth... beautiful .... death murder killing with out a blink of an eye....
hahahaha, you must, thats the logic solution for the job system. You must do anything for the target. wkwkwk. this is the mind product of target growth system Sir, just enjoy
Bank of america is one hell of a bank.. they have always helped me thru tough times.. shit MFS has loaned me shit lot of money at a discount if you asked me..
More and more people are being forced to live off credit, so of course a banker believes things are great. More and more credit being extended is good for him. But when people are falling into debt to meet living expenses, not to invest for greater future productivity, you’ve got a house of cards stacked higher than ever before in history.
Consumers spending more doesn't mean they earn more. If they spend with credit cards, that just mean they have less cash available and are accumulating debt.
The "unemployment rate" only counts people who are collecting unemployment and are looking for work. Those who are disabled, and those who have not found work in 6 months and/or have GIVEN UP on finding work, are not counted. The true unemployment rate is closer to 7 or 8. The economy is doing great, but the people are not, and GDP and the stock market do not reflect the wellbeing of the people. #Yang2020
Over the last 30 years voters voted for accumulating enormous govt debt, the economy is probably as good as it can be in the USA given the ridiculous debt people have voted for. Other countries have also voted for ridiculous Govt debt and aren't in as good order, Trump deserves credit.
What a joke. Consumers are spending more through Credit cards and loans. It is like employment opportunity for Firemen is great because there are more and more arsonists. ...
I love that there is so many people in the comments have an idea what's going on now just have to pass this info to the next person. We can save lives with the knowledge we have. I see alot of very difficult times for ALOT of people
I have a question for the US citizens, I’m not American but I do study economics. Throughout my study you find the US tends to fall really low economically under the party called Republicans. I don’t know much about your politics so I’m curious to why do you people keep electing those that hurts you financially and economically. I read up on the recent tax plans where you guys got an cut but gave a big cut of that money to the rich instead of the people that actually spends money. Then you have to pay that money you gave to rich back in the next 4-5 years. Why do you dig that hole? I just don’t understand why you guys want to give your money to the rich so much as if they need it or helps you
I think he should take some lessons from poker's players. It is pretty clear that he is bluffing. In a terrible way. Because of the arrogance of USA China now will teach a very good lesson to you guys. China will show you once for all to never try to stop them again. Never. And you wll learn guys. Believe me.
"The economy is growing." What a farce. Corporations pay less taxes (if even) which translates in bigger profit margin but the sales don't grow. Makes the stockmarket go up. FED has pumped trillions into the banks inflating the money supply. The velocity of money is dropping as people get poorer so the FED (bonds) & banks now have to lower the interest rates, maybe even "pay you" to lend money. (negative interest rates, is already happening in some countries) Fractal lending goes through the roof artificially inflating the stockmarket further. (higher price doesn't mean higher value. If you adjust to inflation the stockmarket is nowhere near it's peak. The value of the USD is at it's lowest in history. It's value is -95% from it's inception, of which about 50% happened in the last 10 years. Banks made a killing off of their 10y bonds. But to sustain all this you have to keep the money flowing (velocity) hence taking a tiny loss on negative interest rates is something they'll easily do if needed. And then you pretty much go straight into runaway inflation. (worse than Venezuela) So, how's your day? :) There are ways to protect yourself, but I don't want to come across as shilling for something. Ask yourself what kind of things hold value. "The US is the largest economy" Sure, if you measure by spending, but where is the money going? It's China, wasn't a trick question, it's going to China. Their economy is the biggest if you would measure by production, export and growth in living standard. Millions of Chinese are moving from poor to middle class every year. Remember how we made fun of all those ghost cities China was building? Turns out they were planning ahead beyond the scope we were watching.
Securities are full of low grade debt. Just as with the housing crisis. The Babel tower is about to fall. EG, Brexit, Hong Kong, India Recession, EU Quantitative easing, USA debt, Mexican recession. LatAm recession. Australian slow down. China slow down, yuan depreciation. Industries shrinking.... what other red flags do you need to start saving and stop spending??
"Through August 12th ... ". That is cumulative... YTD. That number looks good. But what about the most recent trend? It is slowing down, he said it! The longest recovery yes, however it is good to remember that it is sustained by borrowing.
US economy still booming ,consumers spending like crazy, and US GDP growing, all sounds too good. But the facts when we have rest of the world biggest economies like China,Japan,EU, South Korea etc... all going into possible recession, how can only US is the only country growing? Who is US trading with? Bankers are worst predictors of economy, 2008 financial crisis is only 10+ yrs ago and Bankers are partying again and why not as bailouts are always available.
Probably only some of this is true. He clearly has a lot invested in this economy behaving in a way that makes his pockets fat. In real life people are struggling with debt and their real wages haven't really changed. They keep saying we had a recovery in 2008 but did we? I don't think so but they keep saying it because that's exactly what they would say.
4 года назад
They been printing money for years .what do you mean you don't know what's going on!!! Banks are going down because of munchion handling .we built it and the GOVERMENT takes us down. STAY HOME!
Boring and useless generalities.. Although what do you expect the head of the largest American financial institution to say, “yeah we’re fucked, put your money under the mattress”? He isn’t getting paid to give you insights on Bloomberg.
He sees as the only big risk the consumers slowing down in their spendings No shit, after Trump's lowering taxation the helicopter money follows then hell on Earth brakes lose. We all know by far that we are now in the last economical cycle before ressession
Consumer spending is up, so is debt! Credit card delinquency is heading to 5%, this guy is lying! Household spending drives economic growth is fine, but debt based growth is not!
- i expected better from Bloomberg?! - rather than a corny azz line of questioning meant to make BofA look good ? No challenges on any of these points -interviewer ask him a question then just lets him blah blah without offering counter points -weak !
lol.... this sound a lot like 2008.... I was young then and I believed them back in the day.... not this time... get ready... you better stop spending.... buy a pickup truck and start watching the storage units... make some cash... to keep moving... watching the housing market... prices are dropping.... slow but sure...
When these guys say everything is fine, it's not.
oh yeah? what is your factor? Could I hear?
Start buying some Gold and Silver before it's too late. The worse the world economy is, the better the Prescious Metals will perform. When the Brexit actually finanlizes, it'll triple the current value of around $1500 dollar/ounce.
@@FairScale-tx1qv
Brexit hasn't that much impact.
Because it informed to market pretty well enough.
And the economy will go well at least a year or even 2 or 3 years.
There is still much stimulation ways for economic growth such as rate cut, revamp the Volcker rule, etc.
It is not the Metal time.
They tell us economy is so good, but they don't explain why the Fed is cutting interest rates.
@@pakpala1
Hint: Insurance.
OF COURSE HE WOULD SAY ITS FINE!!! ITS HIS JOB!! Thats like asking the mall kiosks if their products work!
"We are watching this tsunami coming and you are asking me which swimming suit to put on." - Christine Lagarde
Let's all listen to the bankers again... What could go wrong?
Iceland has more guts than our government. They put the bankers in jail and bailed out the home owners in the last recession
Spanky McTickleballs Buy Bitcoin!
"US spends as much on health care as the entire GDP of India"
As if that is a good thing.
Is this public spending exclusively or combining public and private spending?
@@UKFbass Good question. If it's only one being calculated that would be mind blowing
The art of lying...
Its a disease....the true mentally sick
@@loveall7280 funny though cause its kinda beautiful... he is so smooth... I would like to see what he is doing with his personal money.... he sounds like an entertainer actor... just so smooth... beautiful .... death murder killing with out a blink of an eye....
hahahaha, you must, thats the logic solution for the job system. You must do anything for the target. wkwkwk. this is the mind product of target growth system Sir, just enjoy
Boa has no CREDIBILITY
Ernest Gibson buffet has a 10% stake so they gotta have some
Bank of america is one hell of a bank.. they have always helped me thru tough times.. shit MFS has loaned me shit lot of money at a discount if you asked me..
JMB Lehman brothers asked buffet to bail him out buddy
More and more people are being forced to live off credit, so of course a banker believes things are great. More and more credit being extended is good for him. But when people are falling into debt to meet living expenses, not to invest for greater future productivity, you’ve got a house of cards stacked higher than ever before in history.
After Argentina default EU and Brexit next to default.
EU and Brits have learned to print from the FED ... default never will happen again.
Consumers spending more doesn't mean they earn more. If they spend with credit cards, that just mean they have less cash available and are accumulating debt.
Secretsongs20 wrong, world economies have been running on credit for many years. Now it’s on fumes but still running on credit
The "unemployment rate" only counts people who are collecting unemployment and are looking for work. Those who are disabled, and those who have not found work in 6 months and/or have GIVEN UP on finding work, are not counted. The true unemployment rate is closer to 7 or 8. The economy is doing great, but the people are not, and GDP and the stock market do not reflect the wellbeing of the people.
#Yang2020
Over the last 30 years voters voted for accumulating enormous govt debt, the economy is probably as good as it can be in the USA given the ridiculous debt people have voted for. Other countries have also voted for ridiculous Govt debt and aren't in as good order, Trump deserves credit.
I want to know what he said in 2007
This time it's different, this time it's global.
Lol
What a joke. Consumers are spending more through Credit cards and loans. It is like employment opportunity for Firemen is great because there are more and more arsonists. ...
I love that there is so many people in the comments have an idea what's going on now just have to pass this info to the next person. We can save lives with the knowledge we have. I see alot of very difficult times for ALOT of people
Banks sell assets and sell credit. If he admits a downturn is coming: who would buy these products from him?
Hahah!!
US spends on Healthcare what the entire India GDP is? That’s an amazing stat. Clearly he is a very competent CEO.
😂😂
That just tell you ...that we are paying way too much for meds
Consumer spending, lol, you mean consumer debt.
Indian gdp in ppp terms is 10 trillion international dollars. This guy is going to make bankrupt anything he is going to be leader of. Lol.
I have a question for the US citizens, I’m not American but I do study economics. Throughout my study you find the US tends to fall really low economically under the party called Republicans. I don’t know much about your politics so I’m curious to why do you people keep electing those that hurts you financially and economically. I read up on the recent tax plans where you guys got an cut but gave a big cut of that money to the rich instead of the people that actually spends money. Then you have to pay that money you gave to rich back in the next 4-5 years. Why do you dig that hole? I just don’t understand why you guys want to give your money to the rich so much as if they need it or helps you
Both ties are amazing
I think he should take some lessons from poker's players. It is pretty clear that he is bluffing. In a terrible way. Because of the arrogance of USA China now will teach a very good lesson to you guys. China will show you once for all to never try to stop them again. Never. And you wll learn guys. Believe me.
What are his tells? Can you expand?
His key message is at the end. Lets just keep spending our asses off. Otherwise we might have a recession.
TODAY SPOT GOLD IS $1500 AN OUNCE !
Weren’t they saying CountryWide was doing well back in the good ol’ days?
if everything is fine why cut rates they should be increasing rates
"The economy is growing."
What a farce. Corporations pay less taxes (if even) which translates in bigger profit margin but the sales don't grow. Makes the stockmarket go up. FED has pumped trillions into the banks inflating the money supply. The velocity of money is dropping as people get poorer so the FED (bonds) & banks now have to lower the interest rates, maybe even "pay you" to lend money. (negative interest rates, is already happening in some countries)
Fractal lending goes through the roof artificially inflating the stockmarket further. (higher price doesn't mean higher value. If you adjust to inflation the stockmarket is nowhere near it's peak. The value of the USD is at it's lowest in history. It's value is -95% from it's inception, of which about 50% happened in the last 10 years. Banks made a killing off of their 10y bonds. But to sustain all this you have to keep the money flowing (velocity) hence taking a tiny loss on negative interest rates is something they'll easily do if needed.
And then you pretty much go straight into runaway inflation. (worse than Venezuela)
So, how's your day? :)
There are ways to protect yourself, but I don't want to come across as shilling for something. Ask yourself what kind of things hold value.
"The US is the largest economy"
Sure, if you measure by spending, but where is the money going?
It's China, wasn't a trick question, it's going to China. Their economy is the biggest if you would measure by production, export and growth in living standard. Millions of Chinese are moving from poor to middle class every year.
Remember how we made fun of all those ghost cities China was building? Turns out they were planning ahead beyond the scope we were watching.
He’s lying 🤥
If the Fed cuts rates 50bps in September, sell your BOA stock and/or short it
He is full of crap, US is thinking about issuing a 100 year bond explain that
Securities are full of low grade debt. Just as with the housing crisis. The Babel tower is about to fall. EG, Brexit, Hong Kong, India Recession, EU Quantitative easing, USA debt, Mexican recession. LatAm recession. Australian slow down. China slow down, yuan depreciation. Industries shrinking.... what other red flags do you need to start saving and stop spending??
Gees... big corporate people and even the president saying everything is fine....they can't be lying, right ??
"Through August 12th ... ". That is cumulative... YTD. That number looks good. But what about the most recent trend? It is slowing down, he said it! The longest recovery yes, however it is good to remember that it is sustained by borrowing.
China grows 7.9% ... US grows at 6.4% but China is not running a ~10T Fed printed funny money. Put that in real perspective.
US economy still booming ,consumers spending like crazy, and US GDP growing, all sounds too good. But the facts when we have rest of the world biggest economies like China,Japan,EU, South Korea etc... all going into possible recession, how can only US is the only country growing? Who is US trading with? Bankers are worst predictors of economy, 2008 financial crisis is only 10+ yrs ago and Bankers are partying again and why not as bailouts are always available.
I would take that job for a little while. 🦄
Probably only some of this is true. He clearly has a lot invested in this economy behaving in a way that makes his pockets fat. In real life people are struggling with debt and their real wages haven't really changed. They keep saying we had a recovery in 2008 but did we? I don't think so but they keep saying it because that's exactly what they would say.
They been printing money for years .what do you mean you don't know what's going on!!! Banks are going down because of munchion handling .we built it and the GOVERMENT takes us down. STAY HOME!
The host asking hows your business,???? of coarse he's going say it GREAT!!!!......duh!
Just to be factual, high yield spreads were at record lows in 2007
Their charging it and running up debt. This is a spin doctor.
Yes, spending. But not because of having pay increase but through borrowing. It is his job to calm the waters not to tell the truth
I agree with the comments below
Boring and useless generalities.. Although what do you expect the head of the largest American financial institution to say, “yeah we’re fucked, put your money under the mattress”? He isn’t getting paid to give you insights on Bloomberg.
You have to elect a presedent who will solve theses problem.
Love how the Guy says low Gas prices equal more economic activity. But thinks that socialized medicine would hurt the economy lol WTF
He ain’t worried, tax payer will bail them out. So no problem for Mr Banker...
I'm already poor what that mean to me ,be ready to be poorer.
WRONG !!!! MR. Bailout!!! What a dope anyone can see it’s gonna be a serious Depression !!!
He sees as the only big risk the consumers slowing down in their spendings
No shit, after Trump's lowering taxation the helicopter money follows then hell on Earth brakes lose. We all know by far that we are now in the last economical cycle before ressession
Consumer spending is up, so is debt! Credit card delinquency is heading to 5%, this guy is lying! Household spending drives economic growth is fine, but debt based growth is not!
- i expected better from Bloomberg?! - rather than a corny azz line of questioning meant to make BofA look good ? No challenges on any of these points -interviewer ask him a question then just lets him blah blah without offering counter points -weak !
I'm scared. I'm still a student. I hope I can get some sort of job before everything crashes.
Sorry for what the Baby Boomers have done to you.
lol.... this sound a lot like 2008.... I was young then and I believed them back in the day.... not this time... get ready... you better stop spending.... buy a pickup truck and start watching the storage units... make some cash... to keep moving... watching the housing market... prices are dropping.... slow but sure...
we hit the limit it’s right back there👈
When such a guys are saying it's fine then heads up
Possibly the last person on earth to ask.
I, for one, trust what the banker says. 😐
would this bankster tell this tale to his kids?
I would not trust the bankers
"The economy is growing" said in the first 5 mins of this interview. Don't waste your time on this bullshit piece.
Moynihan, lets see how it turns out. I think you're just trying to buy time to sell.
and the recession is coming q3-4 2019. nice ride , but it's over folks.
Pump it
Fuck that shit I fuck with BiTCoin
This CEO does not have a clue.
No matter what happens, it will not affect his wallet! He is already over paid.
it's hard to belive him
Some of the bank of America:)no good ethics,hey,no offense.
you want to hear from the true financial expert who has a stake in this economy like the CEO of BOA. don't listen to Chinese propaganda.
He's the perfect example of a pumper
Booo Bank of America!!!
He's really trying lol :)