JPMorgan Chase CEO Jamie Dimon sounds the alarm on inflation, wars, and Fed policy, painting a bleak economic picture. Despite beating Q1 earnings, concerns arise over rising interest expenses and missed estimates, pressuring the stock.
Gold and silver are defying conventional market trends amidst debt market weakness and a strengthening dollar. They exhibit resilience, surpassing traditional price influencers and continuing to surge. Silver, typically trailing gold in reaching all-time highs, also demonstrates upward momentum despite attempts to suppress it. This anomaly in silver’s behavior suggests a supply shortage, particularly in industrial and investment sectors, with China emerging as a significant importer. When precious metals deviate from the norm in this manner, historical patterns indicate impending adversity, possibly signaling another financial crisis on the horizon.
Sounds like a gold bug…
Jamie Dimon warns that inflation, wars and Fed policy pose major threats aheadhttps://t.co/P4Qt5Mgz2l
— Peter Spina ⚒ GoldSeek | SilverSeek (@goldseek) April 12, 2024
Good Morning Everyone! JPMorgan down -2.5% this morning in pre-market.
They beat earnings in Q1 (+6% YoY)…
But they missed analyst estimates on full-year Net Interest Income ($89B vs $90.68B).
Their interest expense went up +49% YoY.
This has the stock under pressure.
CEO… pic.twitter.com/ykUgjg3yh9
— Genevieve Roch-Decter, CFA (@GRDecter) April 12, 2024
How bad has the US debt crisis become?
Interest payments on US Federal debt are set to DOUBLE in just 3 years.
Interest expense is set to rise from ~$800 billion in 2022 to ~$1.6 trillion in 2025.
Even if the Fed cuts rates by 150 basis points, interest payments will still hit… pic.twitter.com/hn4OnJmro3
— The Kobeissi Letter (@KobeissiLetter) April 12, 2024
Continuing the story….. pic.twitter.com/ztCDr3GckA
— CrossBorder Capital (@crossbordercap) April 12, 2024
From Citi $C earnings digest
"Credit cards drove growth in US personal banking, boosted by more spending, as well as larger interest-generating balances on cards from partnerships, such as with Home Depot Inc."@NeelyTamminga
— Paul Cerro (@paulcerro) April 12, 2024
Silver has absolutely smoked equities since this post.$SPX +0.97%
Silver +21.0%But keep ragging on me because I am not a full bore irresponsible equity bull.
I'll keep doing me. https://t.co/UQCHnHgmoQ
— RJR Capital (@RJRCapital) April 12, 2024
United States Import Prices MoMhttps://t.co/Dq7seaDVe8 pic.twitter.com/gTY9wTooPV
— TRADING ECONOMICS (@tEconomics) April 12, 2024
United States Export Prices MoMhttps://t.co/DdfYa5ASIB pic.twitter.com/wfdAgDFNe9
— TRADING ECONOMICS (@tEconomics) April 12, 2024