Jamie Dimon predicts a 'major recession' is on its way

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floridafan

Verified User
JPMorgan Chase CEO Jamie Dimon used his annual shareholder letter to detail just how bad he thinks the US economy can get from the coronavirus pandemic.

Dimon expects a "bad recession," he wrote in the letter released Monday, saying that in the most adverse scenario, gross domestic product could plunge at a 35% annual rate in the second quarter and that a downturn would last through the rest of the year. The unemployment rate would spike as high as 14% in this environment.

Great news for Trumps reelection!!!!
 
gross domestic product could plunge at a 35% annual rate in the second quarter and that a downturn would last through the rest of the year. The unemployment rate would spike as high as 14% in this environment.
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No one should have to live through two Great Republican Recessions in their lifetime, let alone two just within the last 12 years
 
I'm not sure what anyone thinks could have averted a global recession given the circumstances.
Anyway I noticed the rate of new cases and deaths is decreasing now for two days in a row and the decrease is more significant today (actually yesterday since the data is delayed by a day).
 
anonymoose said:
I'm not sure what anyone thinks could have averted a global recession given the circumstances.
Anyway I noticed the rate of new cases and deaths is decreasing now for two days in a row and the decrease is more significant today (actually yesterday since the data is delayed by a day).
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Probably true, but some would say that the Administration's tardiness and blundering in addressing the situation made it worse

Market did react to promise of the curve flattening in NYC, that and the trillions being poured in, but the Market is only one indicator, and other economic indicators as unemployment aren't looking promising for the near future
 
Tacomaman said:
And we ALL know what a great economic indicator the stock market is.....lmao
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I agree which is why I'm still in cash and not in stocks. But why doesn't floriduhfan show us her data where the coronavirus cases and deaths are receding? Why do you think that is? I'm curious because I always considered CNBC a fairly reliable source as well as a site that has .org at the end.
 
Trumpet said:
How long do you think that this gain in the stock market will hole??????????
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I think it will go down overall in the next few months. It's been a great time to be a day trader (which I'm not). Today would've been a good day to sell, I don't see how it won't crash again tomorrow.
I believe the market is manic depressive for now.
 
floridafan said:
JPMorgan Chase CEO Jamie Dimon used his annual shareholder letter to detail just how bad he thinks the US economy can get from the coronavirus pandemic.

Dimon expects a "bad recession," he wrote in the letter released Monday, saying that in the most adverse scenario, gross domestic product could plunge at a 35% annual rate in the second quarter and that a downturn would last through the rest of the year. The unemployment rate would spike as high as 14% in this environment.

Great news for Trumps reelection!!!!
Click to expand...

You just came, didn't you. American suffering is such a turn on for you sick fucks.
 
anonymoose said:
I think it will go down overall in the next few months. It's been a great time to be a day trader (which I'm not). Today would've been a good day to sell, I don't see how it won't crash again tomorrow.
I believe the market is manic depressive for now.
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I agree
 
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