Sun, 16 July 2017
Our FEATURE discussion today focuses on the confusing, convoluted & contradictive picture we perceive from the results in the financial markets. In particular, the 3 largest banks in the US reported stellar profits in the 2nd quarter including America's largest bank, JP Morgan Chase(JPMC), which posted a record $7 billion in profits. Surprisingly however, JPMC cut their projected growth prospects for the remainder of the year. Why the pessimism? Jaime Dimon, the banks CEO, went on a rant in a telephone interview, savaging Washington's anti-growth culture. We quote his exact and curse words here which are uncharacteristic for a person in his position but are right on. Other topics include: The flattening yield curve and what it portends, the cash hoarding by Americans, the parallel universe in the US markets, NIA Report on the gold short position, Yellin's incredible future forecast, VOIP-Pal.com's July 20th showdown with Apple, Inc, AG Jeff Session's attack on healthcare fraud and the Hypo-critic oath, Amazon's sweetheart deal with USPS and the GOP's ability to snatch defeat from the jaws of victory.
Direct download: TMB-17-07-16-Bank-Profits-Jaime-Dimon-Red-Flags-What-Gives.mp3
Category:News & Politics -- posted at: 11:49am PST