While speaking to investors and analysts recently JP Morgan CEO Jamie Dimon warned that a hurricane was coming for the U.S. economy.
He told them that the biggest US bank was preparing for an economic hurricane on the horizon caused by the Fed and Ukraine war and advised the investors to do the same.
CNBC reports: Jamie Dimon says ‘brace yourself’ for an economic hurricane
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“You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,” Dimon said Wednesday at a financial conference in New York. While conditions seem “fine” at the moment, nobody knows if the hurricane is “a minor one or Superstorm Sandy,” he added.
“You’d better brace yourself,” Dimon told the roomful of analysts and investors. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
Beginning late last year with high-flying tech names, stocks have been hammered as investors prepare for the end of the Federal Reserve’s cheap money era. Inflation at multidecade highs, exacerbated by supply chain disruptions and the coronavirus pandemic, has sown fear that the Fed will inadvertently tip the economy into recession as it combats price increases…
“Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle this,” Dimon said. “That hurricane is right out there, down the road, coming our way.”
Niamh Harris
Magic. They like magic, illusions, smoke screens, mirrors, whatever deceives. Makes the rich richer, just by complete coincidence.
You need to be careful when this guy talks. He will say anything to cause markets to move in ways that increase his company’s bottom line.
“That hurricane is right out there, down the road, coming our way.”
And if it doesn’t, well, God changed His mind.
If you do the opposite of whatever this man says, you might be able to keep your money.
All thanks to the diaper wearing, basement dwelling, crash test dummy in the white house. Stolen elections do indeed have very dire consequences.
Right on brother!!