JP Morgan, Wall Street Journal economic forecasts are dire
As the Biden Administration is painting a rosy picture of the nation’s economic strength, there are naysayers out there predicting heavy economic weather ahead.
JP Morgan’s CEO, Jamie Dimon went on record to warn Americans that there is an “economic hurricane” brewing. He warns it’s time to prepare — now.
In his published statement, he acknowledged: “I said there’s storm clouds, but I’m going to change it…it’s a hurricane.” He made those comments at a Bernstein conference June 1.
“You better brace yourself. JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet,” Dimon said according to published reports.
“Right now, it’s kind of sunny. Things are doing fine. Everyone thinks the Fed (Federal Reserve) 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 super storm Sandy…or Andrew or something like that,” Dimon said in his statement to Bernstein attendees.
Those investors concern about weathering such an economic storm may want to follow JP Morgan’s conservative balance sheet position.
So what impact this Dimon’s prediction has on the Stock Market? It started the day on the up side, but was down significantly for the day on after his remarks.
Are the Biden administration’s economic policies causing the dire prediction?
That question is on everyone’s mind. Reality is beginning to sink in as most fill their vehicle’s fuel tank, pay high prices for groceries, entertainment, eating out, feeding one’s infant, traveling by air, or any other consumer product.
Inflation under President Biden hit a 40-year high in May when it ticked up to 8.6 percent.
Biden’s radical attack on the petroleum is going to make fuel costs reach an all-time high, but it’s going to drive up the prices of plastics, heating one’s home as the warm day of summer give way to blizzards and going to an from work. Gasoline prices were up 48.7 percent year-over-year.
“In all, fuel prices jumped 16.9 percent in May on a month basis, pushing the one-year increase to a stunning 106.7 percent,” according to published reports.
There seems to be a lack of concern by Biden for the average American who was once the focus of the Democratic Party. Now, the focus of the party has shifted to the radical globalists like Bill Gates (Microsoft), George Soros (Media Matters), Klaus Schwab (World Economic Forum-Davos, Switzerland) and Al Gore (former vice president of the U.S.).
These self-anointed world leaders have the common man in their sights. Why? We are the cause of global warming and all of the world’s problems.
What is the World Economic Forum? Find out for yourself: https://www.weforum.org/about/world-economic-forum
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“For if leisure and security were enjoyed by all alike, the great mass of human beings who are normally stupefied by poverty would become literate and would learn to think for themselves; and when once they had done this, they would sooner or later realise that the privileged minority had no function, and they would sweep it away. In the long run, a hierarchical society was only possible on a basis of poverty and ignorance.”
— George Orwell, 1984