Jamie Dimon/JPM Warning After Warning After Warning (Patreon)
Content
I'm frustrated. I've consistently criticized JPM this year and last for what I see as their dubious claims. I've accused them of talking their own book, attempting to bring down the markets. They were also rumored to have bought a substantial amount of put options on the S&P 500 - if true, they seem to have lost it all.
Jamie Dimon, the CEO of JPMorgan Chase, has been consistently sounding alarms about an impending "hurricane" for the global economy since mid-2022. He's been stating that the economy is facing numerous challenges and that despite the stock market being at 3500, a severe storm was on the horizon.
In a January 2022 CNBC interview, Dimon characterized the economy as "somewhat overheated," with looming "storm clouds" in sight.
Later, he asserted that the Federal Reserve would have to raise interest rates to counter inflation, leading to an eventual recession.
During the market's low point in October, Dimon likened the economy to being in the path of a "hurricane," cautioning businesses to brace themselves for a stock market crash. He even went so far as to call it a potential "superstorm."
The markets are going to go into the throes of a "serious downturn." The bank acknowledged the conflict in Ukraine as a major risk factor for the global economy.
NOTHING HAPPENED. MARKES SHOT UP! 5 Trillion of scared money on the sidelines now going to work.
HOWEVER THE TWIST
NOW, THEY'RE CLAIMING EVERYTHING IS FINE. This gives me pause and prompts me to question their credibility, as it's evident they're either misleading or clueless.