Jamie Dimon claims a recession is coming
 

What do you think? I thought we were in one a couple years ago (2022) and I do think we will be in one soon. With the high debt in this country, the highest ever personal debt and soon coming more defaults on this personal debt, or war in the Middle East, or if we have any internal terrorist attack, any of these could trigger a recession IMO.

Here is what Jamie Dimon stated:

JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the U.S. economy are around 35% to 40%, making recession the most likely scenario in his mind.

“There’s a lot of uncertainty out there,” Dimon said. “I’ve always pointed to geopolitics, housing, the deficits, the spending, the quantitative tightening, the elections, all these things cause some consternation in markets.”

Lots of things out there that can push us into a recession.

We technically had one two years ago when GNP was negative for two quarters but the powers to be decided it was not.

Jamie just wants to be Treasury Secretary to sell all his JPM stock to avoid taxable gains.

Is that the same Jamie Dimon who in June 2022 told investors that we needed to brace ourselves for an "economic hurricane"? Since then the DJIA is up about 20% well above historic gains. Maybe he is not such a great prognosticator, or he has an agenda.

all finance people on TV always have an agenda, . . it's in their DNA, that's how they got the notoriety. .

Always do the opposite in most cases. . latest SEC lawsuit is for this exact reason.

These guys are like the weather forecasters, only right half of the time.

I am still working. I run the purchasing group for a Fortune 500 company. He is wrong - we are IN a recession. If we aren't we are going into one. Everything has slowed down, sales for all my suppliers are down, they are all asking for more orders. Commodity prices are falling - Cold Rolled steel coils are less than $1000 a ton, first time in a long time. I don't see a soft landing. Its not the end of the world, it is taming inflation. The fed is succeeding.

The real world is in a recession.

This is a very difficult thing to discuss on here, as some subjects are a no no to discuss.
I’ll just say we were not heading down the recession road several years ago. But things have happened and we are now.
In fact; we have been in the starting stages of recession for a few years now. Even everyone’s fav investing/financial guru Jim Cramer has been saying so. For him to admit this is an eye opener.

Thanks! feet on the street data is always the best!

Be sure that you save up for any layoff / relocation sr mgmt decision. .

We have been in recession for more than a decade. The inflation adjustment to GDP growth is based on a lie to cover for government incompetence. If you believe the published government inflation rate, you have not been to the grocery store lately.

You listen to Jamie Dimon, really! He was one of the major causes for the housing crisis in 2008. Were you worried about the US debt from 2017-2020? Jamie Dimon is fun of hot air.

Tend to agree. Real inflation is higher than what we are told it is.

You know what to do when our modems have issues?? unplug the sucker and wait about 20 seconds. How about simply unplugging the darn debt clock and waiting 20 seconds?
Problem solved....

There is a catastrophic depression coming when the US dollar literally fails. At $35 trillion in acknowledged debt (and multiples of that in unfunded liabilities), the Fed will continue to print, print, print and the spending power of the USD will go down , down, down. Eventually, there will be few buyers for the debt auctions which will force interest rates higher. And the cycle will just feed on itself.

Google "BRICS" if you are not familiar with it. What started out as 5 nations (Brazil, Russia, India, China, South Africa) is now a consortium that includes Iran, Egypt, Ethiopia, and the United Arab Emirates. As of today, the BRICS nations' GDP exceeds that of the G7. The population of the BRICS nations is 45% of the world. About 40 more nations are looking to join BRICS which is poised to issue its own currency backed by gold. Our currency is backed by nothing except the world's acceptance post WW2. The world is now deliberately and quickly reversing that situation.

The goal of these nations is to dethrone the USD as the world's reserve currency. In doing so, the USD (and the USA) will be almost literally destroyed. Our greatly diluted dollar (think Zimbabwe) will buy almost nothing on the world markets.

Our leaders who continue to spend beyond our means are destroying our country. No matter who gets elected, this will be the outcome because none are interested in making hard choices.

My predictions:
1) escalating debt into 2025 with no end in sight.
2) inflation getting worse no matter what the fed does with interest rates
3) real interest rates will rise even if the fed lowers the fed funds rate
4) food inflation to skyrocket as the country's ability to grow its own food declines; anything imported whether food or not will get more and more expensive
5) business closures and job losses as far as the eye can see.
6) any number of "black swan" events (attacked by Iran or other, massive earthquakes or yellowstone blowing its top, terrorism from illegal migration, etc) could accelerate or exacerbate our decline.
7) crime & violence accelerating on a near vertical trajectory.

Jamie Dimon is wrong. The odds of a soft landing are 0%.

You won't recognize this country in 2028.