Josh Sigurdson reports on the clear and present dangers at JP Morgan as the bank sees earnings dive 69% while the bank warns of a massive recession. While they see a mortgage crisis at the same time as a global recession it’s important to point out we’ve been in a recession since 2008. It never ended. It was simply papered over.
What we are seeing today is a global depression, the likes of which we’ve never seen in history and it will be historic. One can take that to the bank.
Jamie Dimon recently recovered from surgery as JP Morgan watched shares dive fast. Their cash to deposit ratio was never good but surely they will have some problems if people do what they should have done long ago. Done a run on the bank.
We cover this and the comments by BlackRock on the Federal Reserve basically running the stock market today as we enter the era of complete central planning.