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Looming Economic Armageddon #jamiedimon

#Recession #economicrecession #heisesays
Jamie Dimon is warning of the tougher economic times ahead.

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  1. 165 usd oil…ppl will be jumping off bridges….thats about $3 a litre….in a country like aus, with huge car ownership n large distances, we are screwed

  2. There's been an economic Armageddon for airline staff for 2 years (plus 2 decades of previous decay). While other Aussies are getting insanely rich from… wait for it… a deadly virus!
    Still scratching my head trying to figure out how this happened.

  3. There's quite a lot of alarmist talk out there, but the reality is Australia is doing stunningly well.
    Commsec / CBA released their data pack recently.
    There's a lot going right in Australia, despite the doom and gloom.

  4. People won't just look back at this year. They will look back at the last 20 years in complete shock (after 'the big one') at the negligence shown in respect to debt, leverage and governments / central banks encouraging it all to happen.

  5. In my opinion, as an ex Banker that helped set up a bank , is the securitisation of mortgage securities. Too much money was lent from overseas sources (printed by the Federal reserve) has gone into housing. Tell e, how will mortgages be serviced if the economy implodes? War is never good, when you cut back on business investment, supply of goods and increase energy costs, something has to snap. Combine this with a ultra minimum in sun spots on historical records, which has been found to reduce crop yields, I can't see disposable income being sufficient to keep the economy going.

  6. I don't think it will be a short and sharp crash. I think it will be a decline over 2-3yrs followed by stagnation that will lead well into the 2030's.

  7. Yup. Just got back from 8 months in the US. Good luck passing these draconian laws in Utah. They never really shut down longer that TWO weeks…business as usual there. That's a much tougher nut to subjugate.

    A huge amount of migration happening in the US; conservatives moving enmasse to conservative states.

    Seattle, WA and Portland, OR suffering from lack of workers (mandates and drug use), closed businesses (shutdowns and 'passport' requirements), and a serious increase in crime (police defunding and ridiculous crime friendly legislation), and homelessness (the obvious result of all this debacle). Spent some time in both also.

    The s**t will roll down here…best believe that. Interest rates and inflation will touch all, no matter what your circumstance.

    Get your matters in order, and get right with God.

  8. I dont think a US slowdown will affect us, ask your self how many things you buy come from the US and how many things come from the rest of the world. China slowdown is Australia's biggest risk and this is already happening. But stay focused on whats important to you and your family and be prepared for hard times. These are uncertain times and when there is uncertainty you should plan for the worst, but hope for the best. Also as a side note stop listening to billionaires, politician and mass media they have no grasp on reality and whats important to you and I.

  9. You'd be liking your lips at the prospect of an economic collapse wouldn't you Florian ?
    The worse the news is for everyone the more views , more views = more $$ . I bet you prey higher prices except for house prices a good ol collapse in house prices would boost subscriptions especially on the way down

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