Although my opinion is you should never trust the CEO of a bank, I definitely agree with Dimon on this one.
_Everyone_ should be prepared for the tough road that lies ahead of us. Every traditional economic indicator has been _absolutely screaming_ that economic turmoil is in our near future. Not only have the alarms been going off for months, they’re all _so much worse_ by traditional measures _than they have ever been in the history of modern economics._
Being prepared is just sound advice. Two incomes? Live like you have one. Small savings account? Save as much as you possibly can. Unnecessary expenditures? Cut them to the barest level you can.
The downturn is always swift and everyone every single time looks around and scratches their heads and has _just no clue_ how it happened to them. This time will be no different.
Stop spending. Stop accruing debt. Stop living beyond your means. Be prepared for a protracted, painful period of world history in the very near future.
And don’t pretend when it gets here like there was no possible way we could have known it was coming. Remember, you’re not a bank. No one will bail you out.
If Trump manages to get elected yes – if President Biden gets reelected then no – we will continue to grow and prices will continue to fall.
Normal people have been feeling like were already in a recession for at least a year now. What are we expecting exactly? Even higher prices, higher rental/home prices, more under/unemployment?
Im convinced the irresponsible masses are just maxing out credit cards rather than change their spending habits right now. All fun and games until youve hit your credit limit, are making minimum payments only and the 20+% APR kicks in.
Dimon has said this, then the opposite of this basically every month for the last 2 years. Dude loves seeing himself in the headlines – fuck jamie dimon
This doom and gloom bullshit is old.
They’ve been predicting a recession for almost 3 years. Only to be way off.
Q3 had 5.9% growth
These wall-street fucks seem to have an agenda! And I don’t like it
5 comments
Although my opinion is you should never trust the CEO of a bank, I definitely agree with Dimon on this one.
_Everyone_ should be prepared for the tough road that lies ahead of us. Every traditional economic indicator has been _absolutely screaming_ that economic turmoil is in our near future. Not only have the alarms been going off for months, they’re all _so much worse_ by traditional measures _than they have ever been in the history of modern economics._
Being prepared is just sound advice. Two incomes? Live like you have one. Small savings account? Save as much as you possibly can. Unnecessary expenditures? Cut them to the barest level you can.
The downturn is always swift and everyone every single time looks around and scratches their heads and has _just no clue_ how it happened to them. This time will be no different.
Stop spending. Stop accruing debt. Stop living beyond your means. Be prepared for a protracted, painful period of world history in the very near future.
And don’t pretend when it gets here like there was no possible way we could have known it was coming. Remember, you’re not a bank. No one will bail you out.
If Trump manages to get elected yes – if President Biden gets reelected then no – we will continue to grow and prices will continue to fall.
Normal people have been feeling like were already in a recession for at least a year now. What are we expecting exactly? Even higher prices, higher rental/home prices, more under/unemployment?
Im convinced the irresponsible masses are just maxing out credit cards rather than change their spending habits right now. All fun and games until youve hit your credit limit, are making minimum payments only and the 20+% APR kicks in.
Dimon has said this, then the opposite of this basically every month for the last 2 years. Dude loves seeing himself in the headlines – fuck jamie dimon
This doom and gloom bullshit is old.
They’ve been predicting a recession for almost 3 years. Only to be way off.
Q3 had 5.9% growth
These wall-street fucks seem to have an agenda! And I don’t like it