Posted on 10/15/2019 2:53:21 PM PDT by ChicagoConservative27
JPMorgan Chase CEO Jamie Dimon warned on Tuesday that a recession is on the horizon thanks to the continuing trade tensions with China.
“Of course there’s a recession ahead,” Dimon said during a morning call with reporters after the bank announced its third-quarter earnings.
“It does look like geopolitics, particularly around China and trade, are reducing business confidence and business capital expenditure,” Dimon added.
On Tuesday afternoon, however, JPMorgan Chase spokesman Joe Evangelisti sought to downplay Dimon’s comments, noting that his boss didn’t mention the timing of his prediction.
(Excerpt) Read more at nypost.com ...
THE ONE RULE OF ECONOMICS:
Whatever direction the economy is going in, it will change direction. And then it will change again.
Well if there’s a recession ahead, drive around it dummy.
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