Forget the Black Swans; the Vultures already Circling us Are Bad Enough to Kill us
There is certainly more coming to eat away at your finances as infamous bankster Jamie Dimon laid out quite broadly and plainly this week.
Jamie Dimon never saw a dying bank he didn’t want to eat. Yet, while I think that Dimon’s name should be pronounced less like the clear, crown jewel of choice and more like the horned fiends of Hades, he does often speak of things likely to bring down the banking world or the economy with more candor than any other bankers, including particularly his partners in crime at the Fed. And you can be sure he has his scavenger eye on those things.
Perhaps it is just because he has unparalleled confidence that he is untouchable like a serial killer who talks to police on the street about how sorry he feels that they have had no luck at all finding the serial killer. He’s just that confident his next big take from hauling in a failing bank at fire-sale prices is so certain, he needn’t worry that warning everyone of the coming failures will get in the way of his business. Thus, he can play the saint for warning us all, knowing the greedy will ignore his warnings anyway, and still wait in the wings for that Friday evening call from Fed Chair Jerome Powell that says, “We have another bank for you. Can we meet tomorrow morning to discuss terms and complete a weekend sale?”
Fitting right in with my theme for this weekend’s Deeper Dive for paying subscribers to be titled “The Apoceclypse,” The CEO of JPMorgan Chase warned the world this week that it faces “Risks that eclipse anything since World War II.” I, of course, couldn’t agree more, so I want to spend this article distilling the Dimon’s annual report down to the most essential risks:
…click on the above link to read the rest of the article…
