Hannah Towey – Yahoo Finance Aug 14, 2022
- CEO Jamie Dimon talked to some of JPMorgan’s wealthy clients on a call Tuesday, Yahoo reported.
- He was said to have put the chances of a “harder recession” and of “something worse” at 20 to 30%.
- He called current risks “storm clouds,” an apparent downgrade from his June “hurricane” warning.
JPMorgan Chase CEO Jamie Dimon estimated last week the probability that the US would head into a recession, according to a Yahoo Finance report published Saturday.
Dimon reportedly said on a client call Tuesday that the economy was “strong” but “storm clouds” were on the horizon, including federal monetary policies, Russia’s invasion of Ukraine, and rising oil prices. The categorization is an apparent downgrade from Dimon’s previous comments in June when he warned of an “economic hurricane.”
“Consumers’ balance sheets are in good shape,” he said, per the Yahoo report. “Businesses are equally in good shape. When you forecast, you have to think differently. It is a bad mistake to say, ‘Here is my single-point forecast.'”
The CEO was said to have estimated the chances of a “soft landing” to be about 10% and the probability of a “harder landing” or “mild recession” to be closer to 20 to 30%. He also reportedly estimated a 20- to 30% chance of a “harder recession” and a 20- to 30% chance of “something worse.”
Dimon had originally used the storm-clouds metaphor to describe the US economy back in April, but his outlook grew more dire in June.
“I’m going to change the storm clouds out there. Look, I’m an optimist, I said there are storm clouds, they’re big storm clouds: It’s a hurricane,” he said at the Bernstein conference on June 1, adding: “You better brace yourself. JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
Industry leaders like Dimon have provided various economic forecasts over the past few months, as a strong US labor market clashes with two consecutive quarters of contraction — leaving many experts puzzled over whether the US is approaching a recession or is in one already.
“Right now, it’s kind of sunny,” Dimon said in June. “Things are doing fine. Everyone thinks the Fed can handle this. That hurricane is right out there down the road coming our way. We just don’t know if it’s a minor one or Superstorm Sandy or Andrew or something like that.”
Read the original article on Business Insider
Heading into? The US has been in a full blown depression since 2006.
Jamie Dimon tells different lies to different elite clients. Dimon never tells the truth, because he’s a financial terrorist.
Some are saying China and US are weeks away from war, because the US is planning to send ships through the Taiwan Straight. Don’t be surprised if Chinese ships intercept these US boats.
The US can never payoff its debts, the US can never compete with China, so its going to be war. War must start before midterms, or Biden is toast, and will be impeached. Kinda puts the Trump raid in context.
It does not matter, because the fortunes of the very, very, very, very, very, very greedy do not matter, even if this seems impossible to them
They just got too greedy. Had they not not done so then everything could be ticking over just fine and the once all-powerful west still on top and ruling the world. But their greed was such that even after printing money and giving most of it to themselves as bail-outs, then lending the rest of it to themselves at near-zero interest, it still isn’t enough to dig them, and us, out of the hole their greed has dug for us all.
Now they have most of the money it’s not enough. Next they want the land.
Dimon is a fear-pornographer whose “genius” derives ONLY from knowing where to dip his scoop in the cyclic loop of the money river originating in the Treasury Department and finding its way to the Federal Reserve for breathing life into the debt that services stock-buybacks. He pontificates ad nauseum about “consumer balance sheets being in good shape, and businesses are in equally good shape” when in reality the lockdowns got rid of all the riffraff, leaving any revival economic activity to the bigger elite outfits who gave to Black Lives Matter.
Excellent. For only chaos (economic/societal meltdown/axis shift/comet hit etc) can create the conditions necessary for the overthrow of the anti-white Zionist-Communist State/scum.Once we obtain power upon the ruins of Jewish-Christian-Communist society we will establish our civilization based upon ‘The Book of the Law’.
“Do what thou wilt shall be the whole of the Law.” –The Book of the Law I:40
Hmmm, what would Tony Soprano do if Soprano Inc. owed (fill in blank) so much money there was no way he could ever pay it back? Gosh, that took about two seconds to cipher..
I HOPE SO !
THE WORST SO BETTER !
@MANGLO SACHSON
they (Ratschilds) have already all land
+ private property . they just wait that
all western states declare their bankrupt
Translation – big jew bank says they’ll be done destroying the world’s economy this winter and they can push the big red button on wall street very soon.
Much quicker now u can get back to important things.
Regarding a previous commenter – intelligent white folk (the few of them) don’t need chaos – they just need to wake up and impale the subhuman “rulers” on vlad poles. And Crowley was a sick queer whose “philosophy” matches the marxists well – poor confused lad (more likely shill).
Heading into something worse turns into everything is okay as you get to the end of the article.
Classic fear mongering. A 20% chance of something bad happening has always been on the table for the last thousand years. Same loser that said to stay away from Bitcoin as it shot up to $60k.
Agreeing with Carl Jones only in part. Jamie Demon is part of the problem and cannot be trusted.
In banking debt becomes an asset, and it does not matter what it is in a financial world the private owners of the financial world can create as much credit as they want out of nothing. All that every concerned the lending moguls is if we all want to take out any credit we have our of their system all at once. If that happens then we are back the movie “It’s a Wonderful Life” where our mistrust prevents our own credit being used to keep things from becoming frozen.
The UN and WEF plans are all about ushering in their top-down globalist controls over virtually every aspect of our lives, and particularly in the West where the internationalist banksters, and the multinational and transnational corporations, in bed with the international socialists of the Francis ilk, blame mainly the consumption of the West for trade imbalances and global disparities, because of mainly Western life styles and demands which they say cannot be sustained in an every-increasing developing world. That is essentially the pitch behind the 1992 UN Agenda 21 now being implemented with the 17 sustainability goals of the 2015 UN Agenda 2030 and the WEF Great Reset.
Of course it is all a crock as the world is developing in quite a sustainable way without all of the fake perils and controls from the money power to equalize to bring the West down in order to raise the East up.
What is going on now is that this top-down pyramid of power (this “corporatocracy” as described by John Perkins) is mainly using all sorts of fear mongering and various exaggerated and manufactured perils, and particularly the debt bubble peril to create massive credit out of nothing, where on one hand they deliberately slowing the economy with all of their pretexts, while ensuring more and more people are becoming dependent on government handouts, and ultimately to their commands, and on the other hand at the same time they have been using gobs of that credit to buy up all major assets, just as trader Greg Mannarino has been trying to tell us for the past two and a half years.
Sorry for the blur from last night @ Fred B. Here is an edited version for the archives when they come and take us away to their gulags.
“Agreeing with Carl Jones only in part. Jamie Demon is part of the problem and he cannot be trusted.
In banking, debt becomes an asset, and it does not matter what it is in the financial world because the private owners of the financial world can create as much credit as they want out of nothing. All that ever concerned the lending money moguls is that if we all wanted to take out any credit we have our of their system all at the same time. If that were to happen then we are back to the movie “It’s a Wonderful Life” where our mistrust prevents our own credit from being used to keep the economic system flourishing and finances from becoming frozen.
The UN and WEF plans are all about ushering in their top-down globalist controls over virtually every aspect of our lives, and particularly in the West where the internationalist banksters, the multinational and transnational corporations, who are also in bed with the international socialists of the Francis ilk, blame mainly the consumption of the West for trade imbalances and global disparities. They point to Western life styles and demands which they say cannot be sustained in an every-increasing developing world. That is the essential pitch behind the 1992 UN Agenda 21 now being implemented with the 17 sustainability goals of the 2015 UN Agenda 2030 and the WEF Great Reset.
Of course it is all a crock as the world is developing in quite a sustainable way without all of the fake perils and controls from the money power to equalize wage-earning incomes (i.e, free trade for pan-global corporations), while bringing down the West thinking by doing so they will raise up the East.
What is going on now is that this top-down pyramid of power (this “corporatocracy” as described by John Perkins) is mainly using all sorts of fear mongering and various exaggerated and manufactured perils, and particularly the debt bubble peril to create massive credit out of nothing, where on one hand they are deliberately slowing the economy with all such pretexts, while ensuring more and more people are becoming dependent on government handouts, and ultimately to their commands, and on the other hand at the same time they have been using gobs of that credit to buy up all major assets, just as trader Greg Mannarino has been trying to tell us for the past two and a half years.
Carl Jones in his comment above applied an appropriate label, financial terrorist, to that utterly loathsome Jew criminal Dimon. The shameless parasite Dimon was able to keep a straight face when he vomited out, “Things are doing fine”, because things ARE fine for the Jew predator class as organized Jewry’s plan of utter destruction of everyone and everything not of their demonic tribe of homicidal maniacs is chugging right along.
Dimon is a reeking putrid shit-stain on the fabric of humanity. He should be suspended from a stout tree branch, whaled on with tire irons and claw hammers until his kneecaps, ribs, ankles, elbows,, and jaw are shattered, gang-raped by Tyrone and the Project Boyz, then stuffed in a small cage and lowered into a pit.