Posted on 01/15/2009 11:37:51 PM PST by TigerLikesRooster
JPMorgan chief says worst of the crisis still to come: FT
Wed Jan 14, 10:13 pm ET
LONDON (AFP) – The chief executive of US bank JPMorgan Chase, Jamie Dimon, told the Financial Times on Thursday that the worst of the economic crisis still lay ahead as hard-hit consumers default on their loans.
"The worst of the economic situation is not yet behind us. It looks as if it will continue to deteriorate for most of 2009," he told the business daily.
"In terms of our sector, we expect consumer loans and credit cards to continue to get worse."
(Excerpt) Read more at news.yahoo.com ...
Ping!
Or is he shorting his own company?
yitbos
I have a bofa card with automatic repayment. Every time I use it my credit falls 5 points. After the automation it goes up 10. Jumpiest times i’ve ever seen.
I'm sure he gets a huge golden parachute. He just has to make sure he bails out in time. He's angling to get more government funds for his company.
Posted By: Ambrose Evans-Pritchard at Jan 15, 2009
The Telegraph (UK)
Oh no!
Albert Edwards at Societe Generale has issued another terror alert:
Sell everything. Hide in a bunker with plenty of whisky. The S&P 500 index of US shares is about to crash through its half-century support line to 500.
"Technicals say it is time to bail out. Cut equity expose and prepare for rout. US depression looking likely. While China's 2009 implosion could get ugly."
[snip]
I think so too, I think its going to last 8 more years...
I didn't want to post that in Bloggers & Personal. Good technique.
AEP throws this out for comment in his blog to test the waters. The comments are quite enlightening and cerebral.
yitbos
FYI Freepers, regarding market technicals this John B. Taylor paper seems to have defined the timeline by analyzing LIBOR activity. The Abstract: This paper is an empirical investigation of the role of government actions and interventions in the financial crisis that flared up in August 2007. It integrates and summarizes several ongoing empirical research projects with the aim of learning from past policy and thereby improving future policy. The evidence is presented in a series of charts which are backed up by statistical analysis in these research projects.
http://www.stanford.edu/~johntayl/FCPR.pdf
The comment from alydar, in particular, reporting on a prognostication from 2004, is quite interesting. That post links to the full article here:
CHINA’S GREAT DEPRESSION
by Krassimir Petrov, Ph.D.
September 2, 2004
http://www.financialsense.com/editorials/petrov/2004/0902.html
Krassimir Petrov appears to have nailed it.
I hope not.
That HD video was something else. I emailed it to family and friends.
What can you tell me about HD.
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