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Back in the media this week Dimon explained why the problems in the economy are far from over.
And it has a lot to do with something that happened on the 1st of June 2022.
Similar to how the Pandemic stimulus took time to materialize into surging inflation, the negative effects of this event that took place 10 months ago could be just beginning.
Last year was an extremely unusual year plagued by war, record inflation, rapid interest rate increases and a stock market collapse
All while unemployment remained at a record low and consumers continued to spend far in excess of pre-covid levels fueled by trillions of dollars they have in excess cash in their checking accounts.
But Dimon sees dark storm clouds still circling over head and while we cannot predict exactly what the economic weather will look like,
We can explore the major factors that have raised the probability of further trouble down the road.
TIMESTAMPS
INTRO 0:00
JAMIE DIMON 1:08
STAGE 1 OF THE STORM 2:01
STATE OF THE ECONOMY 3:24
DARK STORM CLOUDS 5:35
WILL THERE BE A RECESSION? 9:19
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Disclaimer:
The information in this video is general information only and should not be taken as constituting professional advice from Hamish Hodder.
Hamish Hodder is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances.
Hamish Hodder is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this video….(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Jamie Dimon, the CEO of JPMorgan Chase, recently made an alarming economic prediction for the year 2023. In his annual letter to shareholders, Dimon warned of a potential economic crisis that could strike the global economy with devastating consequences.
Dimon’s predictions are often closely followed by industry experts and investors due to his track record of accurately forecasting major economic events. His previous warnings about the 2008 financial crisis were proven to be spot on, which adds even more weight to his latest prediction.
According to Dimon, the COVID-19 pandemic has accelerated a series of underlying social and economic issues that could lead to a major financial downturn in the coming years. He highlighted several key factors that give him cause for concern.
One of the primary concerns expressed by Dimon is the excessive fiscal and monetary stimulus that has been injected into economies around the world. While these measures were necessary to combat the immediate impact of the pandemic, there is a risk that they could lead to inflation and other economic imbalances in the long run.
Dimon also raised concerns about the growing wealth and income inequality, which he believes has been exacerbated by the pandemic. The wealth gap between the rich and the poor has widened significantly, and this could lead to social unrest and political instability in the future.
Furthermore, he pointed out the potential risks associated with increased government debt. Many countries have taken on massive amounts of debt to fund stimulus packages during the pandemic. Dimon believes that this could lead to a debt crisis if countries fail to address their fiscal imbalances.
Additionally, Dimon highlighted the increasing geopolitical tensions and the impact they could have on the global economy. Conflicts between major powers, such as the United States and China, could disrupt global trade and investment flows, leading to an economic downturn.
While Dimon’s predictions may be alarming, he also offered some hope and solutions in his letter. He emphasized the importance of strong leadership and collaboration between governments, businesses, and society to address these challenges proactively. Dimon believes that investments in infrastructure, education, and healthcare can help stimulate economic growth and reduce inequality.
Overall, Jamie Dimon’s economic prediction for 2023 serves as a wake-up call for governments, businesses, and individuals alike. It highlights the urgent need to address key economic issues that have been magnified by the pandemic. By taking proactive measures and working together, we can mitigate the risks and ensure a more stable and inclusive global economy for the future.
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Jamie diamond is manically depressed and I wish he would retire and take up shuffle board!
4.5% inflation rate? Most europeans would be dreaming about that low rate since it´s gone up in some countries around 10%…
Thank you, Hamish, most interesting.
❤A recession prediction! Haven't seen lots of those this year
BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
I promptly did some research on Monica’s past. She can control herself well. Her credentials are solid, and it seems like she was the subject of a careful examination. Foreign investors from countries other than the United States can also use her services
The way I see it this recession most likely has an external cause. The United States is losing influence as a federal currency for the first time in decades. They don't have any more economies to utilize to control their inflation, and less money is being spent on stock and oil trading than previously. They all lend credence to the hypothesis that a new multilateral world order may be in the works.
Jamie is a scheister. And although it doesn't take a genius to see what's going on, rest assured this lowlife will make millions or more from it.
The year started profitably – I’ve recorded 200k+ pure profits, 10,000% account growth in barely five months. IMHO, I don’t think anything beats investing the right way!
Considering everyone I know has set up a bond ladder, I'm pretty sure sentiment is also neg contributing to the neg spread. There may be other factors, but I think overall you can't ignore a 50 year trend of a leading indicator.
last week yellen had a close door meeting with jamie & then on saturday jamie had a meeting with the ceo's of the 8 big banks, at his apartment they are planing to short the precious metal market between themselves to suppress the metals so again they can steal billions from the miners and the investors through racketeering, he needs yellen to keep the heat off them while they are doing what they do best rig & manipulate the medals, mark my words they will keep the price suppressed so that the people fleeing these other banks will not run to gold & silver, and run to the other 8 big banks, just saying, why else would they have these back room meetings. its to bad the doj is so corrupt, as there is a whole lot of criminal activity going on here.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
JDs face tells it all he knows something very bad is around the corner.
The war in Ukraine? That US is funding? Didn't the East want a truce and the repose was no. Bunch of pigs have been robbing the West blind for decades. Now its time for collapse
Not strange events… as if they didn't know this storm would occur…is yet to occur
Recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
Nobody becomes a millionaire or billionaire by working for others and depending on them, good investment breed millions of dollars and consistency breed billions
I moved all of my savings to gold and silver. Still holding on to some investments – but that's money that I can afford to lose. My savings, that I cannot afford to lose, are in solid gold/silver bars in my vault, in my home.
ur repeating urself all the way through. more of Diamond’s words, less of ur repetitions
Not a “recession” that’s the nice word they use, we’re going into a Depression.
Recession won't come in 2023..may be in 2024..
Finally someone is taking unemployment as it is, U6 measure instead of U3 measure.
I used to think every investor lose out during recession, meanwhile some make millions. I also thought everybody went out of business during the great depression, but some went into business. Bottom line, there's always depression for some, and profits for others. it all starts with having the right mindset. That said, I've set aside $265k for future, unfortunately I'm a complete noob.
Translation: take more deposits from regionals and put more money to ours
the fed balance sheet starts increasing again last month. Is there any news on that?
Fed is already very behind QT, this hasn’t impacted the market yet, but I agree with Jamie Diamond, this will start having big affects on the economy, you can’t always get out by printing more money
Hi Jamie Dimon, you know, I struggled with expensive medical, and to protect savings, I put all in my home because back then it was considered forced savings. I had a little nest egg, and then you came along. Then ‘08 you basically sold everything and when I asked the bank where the heck is my money, i was told us it was gone into cyberspace. I say BS. It’s in greed-driven Jamie Dimon’s back pocket. What a horrid man.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $160K for sometime now, my major challenge is not knowing the best entry and exit strategie;s … I would greatly appreciate any suggestions
I'm in complete awe at how I went from living an average life to making over 63k per month. It's amazing. The financial markets are full with opportunities, but I've learned a lot over the past few years to doubt that. >>The key is knowing where to focus. Well appreciated,
MARCIA ANN BICE .
this fucking talk about bad time that has never happend give it a rest its clear sky