JP Morgan CEO warns world may be facing ‘most dangerous time’ in decades

[Social Media]

 

 

The JP Morgan boss, Jamie Dimon, has warned the world may be living through “the most dangerous time the world has seen in decades” as Israel prepares to launch an expected ground offensive on Gaza.

The escalating conflict could have “far-reaching impacts” on energy prices, food costs, international trade and diplomatic ties, he said as JPMorgan Chase, America’s largest bank, reported earnings for the latest quarter.

 

While the lender posted another robust set of results, Dimon cautioned that interest rates may increase further in the United States, as the savings of consumers dwindle.

Dimon said: “The war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade and geopolitical relationships. This may be the most dangerous time the world has seen in decades.

“While we hope for the best, we prepare the firm for a broad range of outcomes so we can consistently deliver for clients no matter the environment.”

Earlier this week, Dimon informed staff that JP Morgan employees in the region had been confirmed safe. “This past weekend’s attack on Israel and its people and the resulting war and bloodshed are a terrible tragedy,” he wrote in an internal memo seen by the Guardian.

In a later memo, he told employees that the conflict in the Middle East would have “ripple effects that extend far beyond the region”.

Global companies have scrambled in recent days to account for their staff and formulate public comments on developments. Antonio Neri, the chief executive of Hewlett Packard Enterprise, described Saturday’s attack by Hamas as “unjustified and inexcusable”.

 

FULL STORY

 

[thaibeachlovers]

There are always riches to be made in times of trouble. Wonder how many weapons manufacturers JP Morgan is invested in.

[Bangkok Barry]

4 hours ago, Social Media said:

The escalating conflict could have “far-reaching impacts” on energy prices, food costs, international trade and diplomatic ties, he said as JPMorgan Chase, America’s largest bank, reported earnings for the latest quarter.

He forgot to add 'again'. Already happened in the conflict between Russia and  Ukraine.

[Caldera]

And one of the reasons why the world is such a dangerous place are the banksters from JP Morgan. Oh the irony. 

[The Theory]

7 hours ago, Social Media said:

The JP Morgan boss, Jamie Dimon, has warned the world

saving their own, since many people going to lose their houses due to interest rate change. 

[JonnyF]

Indeed. The rise of antisemitism has shades of the 1930s about it. The fact that large sections of the west are trying to justify it is  shocking.
 

Dangerous times for sure. 
 

Let’s hope common sense prevails.

[Hawaiian]

The cost of servicing our national debt is getting to the point of becoming unmanageable.   And the U.S. isn't the only country with facing this problem.  We are definitely in for some scary times.

[BenStark]

WWIII has been in the making for a decade at least, and I'm sure it will happen in my lifetime. I'm 65

[spidermike007]

The danger is coming from you and your banker friends. You should have been arrested and locked up after 2008. Instead you were protected and made an additional fortune. And continue with your toxic proctices.

 

Banksters may be more dangerous than Israel and Hamas. 

[Caldera]

3 hours ago, JonnyF said:

Indeed. The rise of antisemitism has shades of the 1930s about it. The fact that large sections of the west are trying to justify it is  shocking.

I'd say the rise of antisemitism we're seeing is at least in parts a direct result of the state terrorism perpetrated by the government and military of Israel.

 

As all attempts by the West to rein in the war criminal Netanyahu have failed thus far, things are bound to get worse before they get better.

[ThaiFelix]

10 hours ago, JonnyF said:

Indeed. The rise of antisemitism has shades of the 1930s about it. The fact that large sections of the west are trying to justify it is  shocking.
 

Dangerous times for sure. 
 

Let’s hope common sense prevails.

Its pretty certain that the rise in antisemitism is just a natural re-action to Israel's behaviour!

[bradiston]

"Net profits at JP Morgan jumped 35% to $13.15bn in the three months to the end of September. Revenue at the bank rose 22% to $39.87bn."

 

And this isn't TAT talk.

[placeholder]

On 10/14/2023 at 3:39 PM, The Theory said:

saving their own, since many people going to lose their houses due to interest rate change. 

Well, in the USA not so much since the standard loan is long term at a fixed interest rate.

[The Theory]

10 minutes ago, placeholder said:

Well, in the USA not so much since the standard loan is long term at a fixed interest rate.

Perhaps you got a fixed one, not all others. There too many people who wish to become homeowners. They would rather to go with "variable" rates and save (or be able to buy what is hard to afford with a fixed rate) that was the reason people lost their homes (just like last time). 

Edited October 16, 2023 by The Theory

[placeholder]

1 minute ago, The Theory said:

Perhaps you got a fixed one, not all others. There too many people who wish to become homeowners. They would rather to go with "variable" rates, that was reason people lose their homes (just like last time). 

 

 

First of all. there's this.

https://www.bankrate.com/mortgages/mortgage-statistics/#term

 

And then there's this

 

Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows

https://archive.ph/NNTVH

 

And it's true that recently there has been an upsurge in borrowers seeking variable interest rates. But given that these people are interested in borrowing now or recently, it seems unlikely that they are in danger of being evicted from their homes. In fact, their recent signing of variable rate loans is an indication of their belief that high inflation is a temporary phenomenon that high inflation of a year or so ago was a temporary phenomenon. A belief that looks like it was well justified.

 

[placeholder]

15 minutes ago, The Theory said:

Perhaps you got a fixed one, not all others. There too many people who wish to become homeowners. They would rather to go with "variable" rates and save (or be able to buy what is hard to afford with a fixed rate) that was the reason people lost their homes (just like last time). 

And here are some figures on mortgage delinquency rates in the USA

 

https://fred.stlouisfed.org/series/DRSFRMACBS

Edited October 16, 2023 by placeholder