Jamie Dimon, ‘Red-Blooded Capitalist,’ Braces For ‘Superstorm Sandy’
"Right now, it's kinda sunny, things are doin' fine," Jamie Dimon mused, gesticulating at a conference sponsored by AllianceBernstein. "Everyone thinks the Fed can handle this."
Then, he took a turn for the dramatic. "That hurricane is right out there, down the road, coming our way," he said, emphatically. "We just don't know if it's a minor one or Superstorm Sandy."
He paused to scratch his nose, casually, as though he hadn't just employed a natural disaster metaphor to conjure economic obli
After the GFC, I can only see Dimon as the richest welfare King in the world.
So do I listen to Kolanovic or Dimon? Or neither?
Dimon is covering his ass — just in case the hurricane hits — and Kolanovic, as usual, is bullish (with small detours to bearishness). Quite a pair at JPM.
Dimon has seen more than Kolanovic relative to history. Additionally, if one of the largest banks in the world (JPM) is considering tightening the reins at the same time as the Fed is essentially doing the same (and it is the banks the generate new dollars via lending) then I have to give more weight to Dimon’s fears as compared to Kolanovic’s buoyancy.
I think I will stay fully hedged. Something to do with sleep.
I was going to ask the same question. Marko has been very prescient over the past few years, though.
This sounds like populism to me. Bad stuff is gonna happen, I called it, pay attention to me!