Jamie Dimon Warns of ‘Most Treacherous’ Time Ahead That Might Eclipse Anything Seen Since World War II

Contact Your Elected Officials
The Epoch Times Header

‘Beware of higher rates and recession,’ he said.

JPMorgan CEO Jamie Dimon issued a stark warning about the U.S. economy, saying that the risks confronting Americans today may well be the worst since World War II, while cautioning of downside risks that may dash market expectations for an economic “soft landing.”

Mr. Dimon made the remarks in his annual letter to shareholders, in which he said that investors may be overlooking risks as they navigate a complex and dangerous world.

“We may be entering one of the most treacherous geopolitical eras since World War II,” Mr. Dimon wrote, warning that the impacts of major economic and geopolitical forces—from high levels and debt and fiscal stimulus, to the wars in Ukraine and the Middle East—could deliver nasty surprises to markets.

He said he’s worried about the Biden administration’s ongoing deficit spending, the unknown effects of quantitative tightening, the prospect that inflation will stay higher for longer, and the forces of deglobalization.

“The impacts of these geopolitical and economic forces are large and somewhat unprecedented,” Mr. Dimon warned. “They may not be fully understood until they have completely played out over multiple years.”

Inflation, Recession Fears

Even though many economic indicators appear good and may even be improving, including inflation numbers, Mr. Dimon said this could turn out to be little more than a mirage.

“There seems to be a large number of persistent inflationary pressures, which may likely continue,” Mr. Dimon wrote.

Inflation continues to be fanned by factors like ongoing fiscal stimulus, supply chain dislocations as global trade undergoes a major restructuring, remilitarization of the world, and the capital needs of the new green economy, he said.

The deficits of today eclipse those of the past, and what’s different this time around is that fiscal stimulus is taking place during a period of economic expansion rather than to pull the country of a recession.

“I remain more concerned about quantitative easing than most, and its reversal, which has never been done before at this scale,” he said, warning about the unclear impacts of the sharp expansion in the money supply in recent years.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Democrats are Losing by Pushing Their Dirty CR Bill

Talk is going around about the “Democrats Dirty CR” and the “Republicans Clean CR”.

NCAA streamlines transfer portal

The NCAA lords of the Division I Administrative Committee have unveiled a fresh batch of transfer portal reforms.

Section 230 Immunity, Defective Design and Trial Lawyers (Part 2)

Congress granted social media platforms Section 230 immunity even when children are harmed, trial lawyers found a way to bypass protection.

A Tale Of Two Political Parties

While the GOP, led by Trump, has produced results, Democrats offer horrible policies and candidates, presenting a vivid contrast to the American people. 

The Case for Western Islam

The suggestion of a expression of Islam which emerges from western culture is one that comes from a place of love.

Democrats are Losing by Pushing Their Dirty CR Bill

Talk is going around about the “Democrats Dirty CR” and the “Republicans Clean CR”.

Biden Undergoing Radiation, Hormone Treatment for Prostate Cancer

Former President Biden has begun receiving a combination of radiation and hormone treatments for prostate cancer, spokesperson announced.

Homan Says DOJ Probing Funding Behind ‘Organized’ Attacks on ICE

Border czar, Homan said DOJ launched an investigation into funding for what he called “organized” attacks on federal immigration enforcement agents.

There Are No Survivors in the Blast at a Tennessee Explosives Factory, Sheriff Says

The blast in rural Tennessee that leveled an explosives plant and was felt for miles around left no survivors, authorities said Saturday

Trump Names Longtime Adviser Dan Scavino to Key Personnel Position

One of President Trump’s longtime advisers, Dan Scavino, is going to be in charge of selecting and appointing key positions within the executive branch.

First Lady’s Effort Helped Reunite 8 War-Displaced Children With Their Families

First lady Melania Trump said 8 children impacted by the fighting between Ukraine and Russia were reunited with their families on Oct. 9.

Trump to Impose New 100 Percent Tariff on China on Nov. 1

President Trump said that the US will impose an additional 100 percent tariffs on Chinese goods and export controls on critical software starting on Nov. 1.

Trump Admin Agrees to $20 Billion Rescue Plan for Argentina

The U.S. government has finalized a $20 billion economic rescue plan for Argentina, Treasury Secretary Scott Bessent announced on Oct. 9.
spot_img

Related Articles

Popular Categories

MAGA Business Central