US Recession ‘Just Started’ Says JPMorgan Chase CEO

Related Articles

The US recession (sorry, Mr President: ‘downturn’) is just beginning, according to JPMorgan Chase boss James Dimon.

According to a report in The Huffington Post blog, Dimon said at a conference in New York: “Even if the capital markets crisis resolves, it does not mean that this country will not go into a bad recession. The recession just started.”

“We don’t know if it’s going to be mild or severe,” he continued. “We’re thinking there’s a third of a chance that it’s going to be pretty bad … closer to the 1982 recession than the very mild recessions we had in 2001 and 1990.”

While the US economy limps on, China continues to grow at breakneck speed, says Bill Bonner in The Daily Reckoning.

“Every detail about China a superlative…bigger, faster, higher, more…more…more. Things are happening so fast that in just 10 years, China will be the world’s biggest economy. We don’t have to tell you what that means, dear reader. Give a guy some money and it’s not long before he thinks he can tell other people what to do and how to live. The United States became the world’s largest economy around 1900. By 1918, Woodrow Wilson was headed to France with his ‘14 Points.’”

You're reading stock marketing investing news from Contrarian Profits. As a visitor to our website you are entitled to FREE subscriptions to some of the world's best financial investment advisory email services. Click here to learn more.

Related Articles

Tags: , , , ,

Post a Response



Technorati Tags: , , , ,

Receive These Valuable Investing Strategy Resources to Your Inbox Courtesy of Contrarian Profits

    Subscribe
We respect your privacy.
Choose any of the FREE subscription services below that you'd like to receive, enter your email address, and click 'subscribe'.
The Daily Reckoning



Select Edition:
DailyWealth

Penny Sleuth

Money Morning

Investor's Daily Edge

Money Morning UK

Investment U

Whiskey and Gunpowder

Taipan Daily

The Growth Stock Wire

Offshore A-Letter

Today's Financial News

International Living

The Smart Profits Report

Spiritual Wealth