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Post by glennkoks on Jun 2, 2022 11:17:11 GMT
Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine warPublished Wed, Jun 1 202210:27 AM www.cnbc.com/2022/06/01/jamie-dimon-says-brace-yourself-for-an-economic-hurricane-caused-by-the-fed-and-ukraine-war.html“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.” ‘It’s a hurricane’: Jamie Dimon tells investors to prepare for rough economic times aheadBy Christine Mui June 1, 2022 11:23 AM PDT
Dimon warned in May of “storm clouds” looming over the U.S. economy. He revised that assessment Wednesday at an annual conference sponsored by AllianceBernstein.
“I said there were storm clouds, big storm clouds,” Dimon said. Now “it’s a hurricane.”
He added that even though the economy seems “fine” at the moment and “everyone thinks the Fed can handle this,” rough times are on their way.
In my view Jamie Dimon has much more credibility than either Yellen or Powell. Her coming out and admitting that she did not see this coming only confirmed my suspicions that she was clueless. |
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Post by walnut on Jun 2, 2022 12:47:17 GMT
Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine warPublished Wed, Jun 1 202210:27 AM www.cnbc.com/2022/06/01/jamie-dimon-says-brace-yourself-for-an-economic-hurricane-caused-by-the-fed-and-ukraine-war.html“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.” ‘It’s a hurricane’: Jamie Dimon tells investors to prepare for rough economic times aheadBy Christine Mui June 1, 2022 11:23 AM PDT
Dimon warned in May of “storm clouds” looming over the U.S. economy. He revised that assessment Wednesday at an annual conference sponsored by AllianceBernstein.
“I said there were storm clouds, big storm clouds,” Dimon said. Now “it’s a hurricane.”
He added that even though the economy seems “fine” at the moment and “everyone thinks the Fed can handle this,” rough times are on their way.
In my view Jamie Dimon has much more credibility than either Yellen or Powell. Her coming out and admitting that she did not see this coming only confirmed my suspicions that she was clueless. She pretends to be surprised. The cabal knew exactly what they were doing. She is taking the fall for them. |
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Post by duwayne on Jun 2, 2022 18:38:02 GMT
Missouri, you were looking for a Bottom" prediction and I responded. But my prediction is better viewed as a "buy point" prediction or maybe a near term bottom which could become a long term bottom. This may or may not be the ultimate all-time bottom since a lot of things will happen in the future that I cannot even guess. I've taken some actions today that protect me in case there is a drop in the near term.
I merely look at past events. No nuance. In 2008, the S&P500 dropped to 55% of its previous high value. A similar drop today would take it to 2600 based on its high value. There is no sophistication in my method. Mirror only. What will hold the market above a repeat? Why do you think the 2008 drop is a good guide to the present situation? |
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Post by missouriboy on Jun 2, 2022 19:26:17 GMT
I merely look at past events. No nuance. In 2008, the S&P500 dropped to 55% of its previous high value. A similar drop today would take it to 2600 based on its high value. There is no sophistication in my method. Mirror only. What will hold the market above a repeat? Why do you think the 2008 drop is a good guide to the present situation? I don't know that it will be, but it's the only recent one we have. All events are usually different. So far 2022 seems to be holding above 2008. It might be useful to ask why. And it seems that people are. |
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Post by nonentropic on Jun 2, 2022 20:33:18 GMT
2008 looked like the financial markets would evaporate that it only fell 55% was remarkable to me.
This market looks driven by a yield issue or PE's are silly because interest rates are silly. If Govt. stock yields are 4%+/- and inflation settles at 5%+/- then stock yields need to reflect this investment opportunity.
I do think Apple will keep making a lot of money and many many others also. I hold no Apple stock but we all know what they represent.
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Post by glennkoks on Jun 2, 2022 22:47:57 GMT
I merely look at past events. No nuance. In 2008, the S&P500 dropped to 55% of its previous high value. A similar drop today would take it to 2600 based on its high value. There is no sophistication in my method. Mirror only. What will hold the market above a repeat? Why do you think the 2008 drop is a good guide to the present situation? That is a great question. I was not around during The Great Depression, but my father was. And I spent many an hour listening to tales from growing up in that period. No two economic downturns seem to replicate themselves exactly but as they say history tends to repeat itself. The roaring twenties culminated in a commodity price spike in 1929 followed by the collapse. 2008 was similar. The current situation is different but has some similarities. In 1929 and the following New Deal they did not do QE and supply liquidity to a struggling economy. They chose to let market forces sort it out. They dealt with their problems and chose not to pass the buck down to their kids and grandkids. In 2008 we went full fledged Keynesian. Programs like TARP, Cash For Clunkers and Quantitative Easing were the preferred strategy. Endless free money to banks and deficit spending were in vogue. When is the last time we had a balanced budget? The economy sucked up the free money and thrived for over a decade. Not much different than you and I paying our bills with a credit card. Lots of free cash if you put everything on a charge card. Well it is quite possible that the hens have come home to roost. Inflation is a problem. A real serious one. The Fed has to raise rates, raise rates and probably raise them some more as they start Quantitative Tightening. In short the one thing that has fueled are economy is now being removed. How will it respond? Anyones guess as we have never done it before. But I am old school. I don't subscribe to buying your way out of hard times with a credit card. Jamie Dimond and now John Waldron of Goldman Sachs have both come out with dire economic forecasts. I have never seen warnings like these in my life. They clearly know something. |
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Post by code on Jun 3, 2022 16:27:38 GMT
CEO Elon Musk has a " super bad feeling" about the economy Exclusive: Elon Musk wants to cut 10% of Tesla jobs
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Post by code on Jun 3, 2022 16:30:03 GMT
I don’t think it’s going to be a mild recession. I think this recession is going to be worse than the Great Recession that started following the 2008 financial crisis.”
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Post by code on Jun 3, 2022 16:31:33 GMT
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Post by missouriboy on Jun 3, 2022 19:43:54 GMT
I know that guy.
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Post by glennkoks on Jun 3, 2022 20:10:08 GMT
I don’t think it’s going to be a mild recession. I think this recession is going to be worse than the Great Recession that started following the 2008 financial crisis.” Love you Code! But Peter Schiff has predicted 99 of the last 2 recessions |
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Post by walnut on Jun 3, 2022 22:54:33 GMT
I don’t think it’s going to be a mild recession. I think this recession is going to be worse than the Great Recession that started following the 2008 financial crisis.” Love you Code! But Peter Schiff has predicted 99 of the last 2 recessions Those people are called perma-bears. Even a broken clock is right twice a day. |
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Post by ratty on Jun 3, 2022 23:45:36 GMT
Love you Code! But Peter Schiff has predicted 99 of the last 2 recessions Those people are called perma-bears. Even a broken clock is right twice a day. Then there is the self-fulfilling prophecy angle .... like the Big Lie? |
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Post by code on Jun 4, 2022 1:01:48 GMT
Thanks!
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Post by ratty on Jun 4, 2022 1:49:49 GMT
You're welcome. PS: How's the treatment going? |
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