Jamie Dimon – CEO of JPMorgan Chase – returns to our halls. Now he does not criticize bitcoin, but says that the global recession is not coming, so everyone can “take a deep breath” and relax.
Dimon said stock indices only experience temporary hiccups, but that does not mean that the US economy will soon be in recession. “It seems to be slowing down,” Dimon told Fox Business, but he stressed that the recession was still far away. “The sentiment has changed dramatically for a variety of reasons, but the United States is still growing by 2.5%, we only had good pay data,” he added.
“It is very possible that we are slowing down, people [should] take a deep breath,” Dimon proposes. He believes that the recent stock market bust has occurred due to concerns about rising interest rates and the potential American trade war with China. His forecast, however, is this: the situation will calm down and the market will bounce back. There is nothing to worry about? Or maybe this is an introduction to the cataclysm, as prof. Krzysztof Piech?
We do not know if the JPMorgan CEO has read the article of the aforementioned Polish economist, but rather opposes the following theses:
“It looks like there will be an increase.” It is not that we are entering a global recession, we will have a slower growth than people expected a few months ago. ”
Do you want to be more relaxed? Read on. Dimon adds that consumer sentiment in the US is “in good shape” and will continue to improve. He emphasizes that “people get a job, more people work, wages go up,” and “the balance of the household [is] in very good condition.” He notes, however, that “it’s better than we deserve at this point in the cycle,” which implies a hidden threat to the future.
It will be worse!
Dimon’s optimistic vision differs greatly from the projection of Canadian economist David Rosenberg, a strategist at Gluskin Sheff, an investment firm based in Toronto. He, in turn, claims that there is an 80% chance that the United States will go into recession, which will lead to the collapse of the entire global economy. To cheer you up (in the end you have to chill!), We add that in 2017 Rosenberg predicted that the US economy would fall in 2018, but it did not happen.
Crisis and cryptocurrencies
The question of how the crypto-asset market will react in the event of the Wall Street crash remains unanswered. This is the answer that Cezary Głuch (Trader21) told us:
“It is very difficult to answer this question, I remember the situation in which a large part of the citizens’ savings was taken over in Cyprus, which was also the moment when bitcoin grew sharply.”
On the other hand, let us remember that the last rockfall on Wall Street turned out to be a prelude to a new wave of cryptocurrencies. The problem with this market is that Bitcoin took off when the last global crisis was already averted. He never functioned during the world crash. We will see sooner or later how we will behave in such an extreme situation …