JP Morgan CEO Says A ‘Hurricane’ Is Coming For The U.S. Economy: ‘Brace Yourself’ (VIDEO)

Code Brown: Get out of the pool.

While speaking to investors and analysts, JP Morgan CEO Jamie Dimon recently said that a hurricane is coming to the U.S. economy.

Words like these are not encouraging for the millions of Americans who are already struggling financially, but this is the reality we are facing.

It’s a stark difference from the way people felt about the economy under Trump.

Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine war

JPMorgan Chase CEO Jamie Dimon says he is preparing the biggest U.S. bank for an economic hurricane on the horizon and advised investors to do the same.

“You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,” Dimon said Wednesday at a financial conference in New York. While conditions seem “fine” at the moment, nobody knows if the hurricane is “a minor one or Superstorm Sandy,” he added.

“You’d better brace yourself,” Dimon told the roomful of analysts and investors. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”

Beginning late last year with high-flying tech names, stocks have been hammered as investors prepare for the end of the Federal Reserve’s cheap money era. Inflation at multidecade highs, exacerbated by supply chain disruptions and the coronavirus pandemic, has sown fear that the Fed will inadvertently tip the economy into recession as it combats price increases…

“Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle this,” Dimon said. “That hurricane is right out there, down the road, coming our way.”

It’s a little scary to hear a leader in the financial world say things like this.

How bad are things going to get?

Source: by Mike LaChance | Gateway Pundit


The Economy and Markets

6/02  ESG funds post largest outflow on record as greenwashing racket unravels – ZH
6/02  Stocks slammed as Fed vice-chair pours cold water on a ‘pause’ – Zero Hedge
6/02  Bear stearns: a lesson in Bear market bounces – Real Investment Advice
6/02  Mind blowing charts on inflation, stocks, economy, rent, gold & silver – KWN
6/02  May payrolls increased just 128,000, slowest growth of the recovery – CNBC
6/01  Stocks, bonds, & Bitcoin dumped as Dimon doubles-down on dour – Zero Hedge
6/01  Beige book shows Fed freaking about widespread economic slowdown – Zero Hedge
6/01  Atlanta Fed slashes Q2 GDP forecast as stagflation looms – Zero Hedge
6/01  Plunges in high job openings, but record spikes in Mnfrg & construction – WS
6/01  Trucker strike looms: Teamsters down to wire on talks – Freightwaves
6/01  Stocks & bonds just puked. Dimon warns, “Brace yourselves!” – ZH
6/01  Stagflation threat soars as manufacturing surveys show soaring costs – ZH
6/01  Gerald Celente: Things look bad, and what else is new? – King World News
6/01  The long view of the S&P 500 looks bullish – The Sounding Line
6/01  CAUTION: This may not be a bear market rally after all – King World News
6/01  Buick Wildcat: GM’s new concept car to revolutionize the brand for EVs – CNBC
6/01  Croatian EV supercar maker Rimac raises 500 million euros – CNBC
6/01  There will be a wave of emerging-market defaults – MSN

Real Estate Bubble

6/02  End-stage: Saudi Arabia to construct largest buildings ever – Zero Hedge
6/02  Urban flight continues – King World News
6/02  Aspen’s market is so crazy buyers shop for homes not even for sale – WSJ
6/02  US for-sale home inventory rises for first time since 2019 – Bloomberg
6/01  Housing market is starting to implode – GoldSeek
6/01  Mortgage demand falls to lowest level since 2018 – CNBC
6/01  Dubai’s 56% property surge collides with ghosts of 2009 crash – Bloomberg

Precious Metals and Mining Stocks

6/02  Where is gold going from here? – Technical Traders
6/02  It turns out they really thought they had a crystal ball – GoldSeek
6/02  It’s possible to recover gold from waste with ~100% efficiency –
6/02  Gold prices climb as U.S. dollar slides – Reuters
6/02  Gold and silver log second monthly losses – Coinnews
6/02  Gold advances as investors sort out the new economic mix – USAgold
6/02  Video: oil analysis & how it will impact gold miners – Daily Gold
6/01  Gold and silver are getting ready to test lows – Kitco
6/01  Russia’s central bank: Expect more demand for gold – Kitco
6/01  Gold is headed for the longest run of gains in more than a month – GoldSeek
6/01  Jim Rogers again predicts “Worst bear market in my lifetime” – GoldSeek
6/01  Gold hits 2-week low amid rising U.S. yields, dollar – Reuters
6/01  Everything is collapsing at once – Here’s what to do about it – Moneyweek
6/01  Gold drifts marginally lower as the Fed shifts to QT – USAgold

Monetary Madness, Cryptos & Currency Wars

6/02  Bank of England to rescue too-big-to-fail stablecoin issuers – Decrypt
6/02  Fifty basis points does not fix this – GoldSeek
6/02  Jamie Dimon says ‘brace yourself’ for an economic hurricane – CNBC
6/01  Bank of Canada hikes another 50, warns “prepared to act more forcefully” – ZH
6/01  Buckle up: This monster to be highly disruptive for global markets – KWN
6/01  Bitcoin daily chart alert: Bulls still in good shape – Kitco
6/01  Peak inflation or peak dollar? – GoldSeek
6/01  Fed to start experiment of letting $8.9 trillion portfolio shrink – Yahoo!
6/01  Their cryptocurrencies crashed the market. Now they’re back at it. – MSN
6/01  Ethereum sees 1.2M failed transactions in May – MSN

Sanctions, Shortages & Supply Shocks

6/02  EU approves new sanctions package, including Russian oil ban – Zero Hedge
6/02  The oil industry’s downstream nightmare is here to stay – Oil Price
6/02  OPEC considers large hike in production to compensate for Russia – Oil Price
6/02  Serious trucker fuel crisis: Pilot CEO on major diesel shortage – YouTube
6/02  Biggest water restrictions begin in So. California amid ongoing drought – MSN
6/02  Russia fails to meet bond obligations, triggering swaps payout – Yahoo!
6/02  Nuclear plant closes: Get ready for electricity shortages – Zero Hedge
6/02  Putin’s coffers are swelling despite sanctions – Bloomberg
6/01  Russia uses Chinese ships and Indian refiners to beat sanctions – Mish Talk
6/01  Top-paid LA lifeguards earned up to $510,283 in 2021 – Open the Books
6/01  Where have all the lifeguards gone? Shortage could close pools – KTLA

FED-up & Underfed: Inflation from Too Much Money & Too Few Goods

6/02  Are you upset about inflation? If so, you aren’t alone. – Snyder
6/02  A radical plan to halt the oil price rally – Oil Price
6/02  Diesel price increases could start domino effect on shortages – YouTube
6/02  ‘I am surprised’: Airline ticket prices reach jarring levels – Yahoo!
6/01  Looming inflation on food to hit Americans even harder this fall – Zero Hedge
6/01  JPM: Oil rising to $136 this month, but one trader bets millions on $200 – ZH
6/01  Oil prices continue to climb as supply uncertainties mount – Oil Price
6/01  Where are oil prices headed? – Oil Price
6/01  25% of americans are delaying retirement due to inflation – CNBC
6/01  Biden plots inflation fight with Fed chair as nation worries – AP
6/01  U.S. policymakers misjudged inflation threat until it was too late – MSN

War and Civil Unrest

6/02  China demands US stop trade talks with Taiwan – AP
6/02  Russian TV talk threatens to wipe out US with 4 Satan II missiles – The Sun
6/02  US and Germany agree to supply advanced weapons to Ukraine – AP
6/01  Erdogan announces new major military operation in northern Syria – ZH
6/01  Ukraine: Sleepwalking into chaos? – MSN
6/01  China conducts military exercises near Taiwan, warns U.S. – MSN
6/01  Russian TV says Poland next target for invasion – MSN

Politics, Authoritarianism and Censorship

6/02  Russia holds nuclear drills as Biden unveils support for Ukraine – Oil Price
6/02  Canadian oil asks for more subsidies despite soaring profits – Oil Price
6/02  Doug Casey on the rapid cultural decline, what comes next – International Man
6/02  ‘Outsider’ in Nevada’s GOP senate race rattles Trump’s pick – NBC News
6/02  January 6 Committee obtains email outlining plan to overturn Trump loss – CNN
6/01  Flash cards depicting pregnant man used in preschool – Tim Moore
6/01  Let them eat weeds: WEF urges people to eat seaweed, algae and cacti – Summit

Covid Craziness and Now a Pox Upon Us

6/02  Dear friends, sorry to announce a genocide – Naomi Wolf
6/02  Is monkeypox a smokescreen for global health power grab? – CHD
6/01  CDC director issues alert on Pfizer’s Covid-19 pill – Zero Hedge
6/01  Nightmare ended: Shanghai reopens after two-month Covid lockdown – Zero Hedge
6/01  Bill Gates at WEF forum on vaccine passports – Worthy News

Self-Reliance, Health and Prepping for Survival

5/31  Nootropics and mushrooms for survival – Survival Blog
5/31  Reading urine test strips – Doom & Bloom
5/28  West Virginian woman with concealed firearm stops mass shooting – Zero Hedge
5/28  VIDEO: Diabetes, Pt. 3: off the grid options – Doom and Bloom
5/28  Nature abhors a vacuum – Blue Collar Prepping
5/28  Science fiction and the preparedness mindset – Survival Blog
5/28  Make these basic money moves now to survive the Fed’s rate hikes – CNBC

The Art of Collapse

6/01  Dozens of Babylon Bee headlines have come true – Townhall
5/29  Monkeypox Meme – Survival Blog
5/25  Top-10 benefits of putting all your money into gold – Babylon Bee

Weird-and-Wacky or Off-Topic News

6/02  Huge rockslide crashes into drought-stricken Lake Powell due to lowering – ZH
6/02  Creepy optical illusion: A black hole is coming to get you – Science Alert
6/02  US frontier supercomputer named fastest in the world – Nextgov
6/01  The man who built his own cathedral – Guardian
6/01  Scientists brace for first glimpse of hell-world that constantly burns – Arca
6/01  Cow moose charges grizzly bear after it kills her calf – MSN