Commenter Cassander linked to a NYPost article that cites Jamie Dimon’s concerns about the economy—and, implicitly, much else:
JPMorgan CEO Jamie Dimon warns an economic ‘hurricane’ is coming
Full disclosure: I’ve never been through a hurricane, and I’m not eager to find out what that experience is like. OTOH, I guess I don’t get a say in this.
JPMorgan Chase boss Jamie Dimon urged investors Wednesday to prepare themselves for turbulence in the market in the weeks ahead – warning that extraordinary financial circumstances were creating a potential “hurricane” for the economy.
Dimon, the head of the largest US bank, said factors such as the Russian invasion of the Ukraine and the Federal Reserve’s move to tighten monetary policy due to decades-high inflation could stoke chaotic conditions in the market.
“It’s a hurricane. Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle this,” Dimon said during a conference sponsored by AllianceBernstein, according to Bloomberg.
“That hurricane is right out there, down the road, coming our way,” he added. “We just don’t know if it’s a minor one or Superstorm Sandy or Andrew or something like that. You better brace yourself.”
Brace yourselves, says Dimon, channeling Mr. Bean. Here’s a handy translator to explain what’s behind all this talk:
I've been through a cat 1 hurricaine, and it's an unusual experience. The thing is, you can actually feel it coming long before it gets there. It gets warm, and the breeze kicks up, and the pressure drops, and the air just feels weird.
I went to bed that night with the outside air just feeling disturbed, and was awakened by the sound of the actual hurricane outside, and it's loud. (It was Hugo, by the way, and it was much reduced in force by the time it got to me.)
Point is, right now the air feels weird, and I have a feeling that loud is coming.
It won’t be anyone’s fault of course. Some things happened