Yesterday Jamie Dimon JP Morgan CEO said an "economic hurricane" is coming. He can't predict if a Cat 1 or Hurricane Sandy but it's coming he says. He went on to say the Balance Sheet at JP Morgan will be very conservative. He also said unwinding those debt instruments with banks buying them at 3% from the FED is not happening with inflation at 8.5%. Meaning rates will have to be much higher for banks like JP Morgan to buy those instruments.
Today Elon Musk chimed in and he says he is "very concerned" about what is coming. So concerned that he said Tesla will "trim it's workforce" by up to 10% to get ahead of it.
This is what is coming. High unemployment, wages which artificially jumped will return to Earth. People will be laid off. Our Country interest payments on our debt is going to skyrocket.
Today Elon Musk chimed in and he says he is "very concerned" about what is coming. So concerned that he said Tesla will "trim it's workforce" by up to 10% to get ahead of it.
This is what is coming. High unemployment, wages which artificially jumped will return to Earth. People will be laid off. Our Country interest payments on our debt is going to skyrocket.
