When the left-wing corporate media starts to become aware of the fact that the economy may not be as rosy as they imagined it to be, you know that efforts to hide the economic consequences of Covid mandates, supply chain snarls and the war in the Ukraine are failing.
“You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,” Dimon said Wednesday at a financial conference in New York. While conditions seem “fine” at the moment, nobody knows if the hurricane is “a minor one or Superstorm Sandy,” he added.
“You’d better brace yourself,” Dimon told the roomful of analysts and investors. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
At age 70, I no longer care about stupid people who max out their credit cards (individuals, corporations and governments!) I was brought up to live within my means, to pay off my credit card every month and to have major purchases planned into budgets.
Sadly, other people and governments do not think like that. I don’t care if people lose their overpriced houses, their useless jobs (civil servants, I am looking at you!) or have to shop at the Food Bank.
I worry about myself, my immediate family and a few select friends who think like me. If that makes me a bad person, then so be it.
[snort] How many snivelling servants do you know that have lost their jobs? I know dozens of citizens who have lost their jobs, more than a handful who have lost their businesses, but not a single snivelling servant who has.
DB
I have railed for near 4 Decades….that the ROT within Western Hemisphere Countries is and continues to be PUBLIC SERVICE UNIONS.
A 100% Drag on the Country due to the increase in Taxation to pay their Largesse (Salary – Benefits – Pension), received, while adding SFA to the Economy.
A Bona Fide COMMUNIST CANCER..that has directly led us to the colossally Fkd up World/Country we have today.
We should go fer Beers some day…?
Agreed on the unions, with _some_ codicils.
Beers! Yes. I’ll send my email addy to Kate with a request to forward it to you, you do the same.
There are people who have killed themselves because the lockdowns cost them their businesses and everything else.
Not that the aforementioned snivel servants care.
“How many snivelling servants do you know that have lost their jobs? ”
Two. In my immediate family. Because they wouldn’t get jabbed.
Good for them for standing on their principles.
Big Momma, I was raised the same way. I rarely borrowed money and the last time I did was when I paid for the probate fee for my father’s will by writing a cheque on my line of credit. That was paid off in about a year.
I’m reminded of people who buy stock on margin. That tactic’s ruined many investors, particularly when the market dips. When something like Black Monday ’87 happens, the two worst words they can hear is “margin call”.
B A . I used credit all my life, personal and business. I made a lot of money using other people’s money. You just have to use it in an intelligent manner. Credit is only dangerous if you think it is “your” money.
VO that is the most truthful and honest answer in regards to using credit I have ever heard. If more people thought this way the lending institutions would be in trouble..
“Credit is only dangerous if you think it is “your” money.”
VOWG, excellent observation.
These hard times remind us that our dedicated government servants need to keep up with inflation.
I thank them for their service.
The economy was in the toilet long before Russia’s special military action in Ukraine…but narrative.
It seems to me that John of Patmos mentioned something like this occuring.
“When the left-wing corporate media starts to become aware of the fact that the economy may not be as rosy as the lies they are peddling,”
Fixed it for you.
Quell surprise Mr Dimon – miss Trump yet?
The problem, Big Momma, and others, is we are not going to be left alone by this. You saved your money, paid your bills, and don’t owe anyone a thing? Good for you. Hang on to your hats.
I took a year off university after my mom died; I ended up collecting tax data from farmers in Southern Ontario. Because I was the new guy, I got all the ‘widows’ – women whose husbands had sold the farms, invested the proceeds, moved to an apartment in the city, and died within a year. This was 1977, after a decade of high inflation and Pierre Trudeau’s rule.
These women were living comfortably in 1969, but the bond payments didn’t keep pace with inflation. By the time I got there, they barely had enough money to eat properly. Proud women, they were now absolutely dependent on government programs like GAINS and the old age supplement to make ends meet.
So, whatever you are living on today, be assured that ten years from now, if King Justin continues on his pace, your standard of living will be cut in half at *best*; I fear a few steps above subsistence is going to be the norm, until the people just can’t take it anymore. I’ll probably be dead, but I fear for my children.
Dear Leader needs all his comforts in order to rule properly and dispense his wise and merciful judgements. No sacrifice is too great to ensure that it stays that way.
Uh, no. I freely micturate upon him and his ilk.
B A , that is a hell of an obscure word for pissing on somebody.
Ah, the advantages of a vocabulary….. I’d like to use words like that against Prinz Dummkopf, hoping that I can fry the few brain cells he has.
(Trying to reply to your post, a half dozen version have been sent to moderation. For the life of me I can’t figger what part is offensive. I’ll parse it piecemeal.)
I smiled when you first used it a couple days back.
It’s good to send the spies to their dictionaries every so often. 😉
Seriously? “O n l i n e” was the offensive word? Jeezuz…
I am currently making my way across central Canada. I think I passed the walking guy (he was smiling and had a good pace).
I can tell you that right now the economy is rocking. I can’t get a helicopter, jet fuel is almost $3.00/litre, the line-ups at Tim Hortons are insane, can’t get a hotel room, restaurants are packed. Highways are jammed with trucks (Ontario and Manitoba anyway).
I’m only going as far as Saskatchewan but so far everything is 50% more expensive or higher. Gas is $2.25/litre on a good day. I pressed the $150 limit on the fill-up and only got 3/4 of a tank of fuel.
It seems there is always an economic rush just before a major storm. This could be a big one folks!
Ah, step 7 heading for 8. Hoo boy are we going to pay (and pay and pay) for the mistake they didn’t make, huh?”
1) there is no threat of inflation due to the government borrowing then “spending” a trillion dollars
2) there is no inflation, like we said
3) there is some inflation, but not everywhere, and its not bad, so point 1 stands, please ignore point 2
4) there is some inflation in some minor areas such as fuel, housing and food, but its manageable
5) its only for a short time, just like two weeks to flatten the COVID curve, remember then?
6) inflation is actually good, Stephen Colbert says so, and who would know better than a celebrity millionaire?
7) the government has a plan for inflation if it ever really becomes a for real problem for real people
8) you’ll love wage and price controls…
9) its corporate greed that somehow didn’t exist two years ago, just started overnight
10) did we mention the inflation that isn’t happening, but would be great, is Putin’s fault?
11) overturning Roe will damage the economy
Good News Everybody!
Your gasoline ration has been increased from ten liters to five!
That would indeed be government math.
Big Brother, actually…but, yep, GovMath 101.
When it gets worse, Canadians – and sadly, many Americans – will cry, “the Government should DO something!”
And then it gets even worse.
” …the Government should DO something!”
Yup. The wail of The Stupid. The government DID something, you morons. That’s why we’re in this *&^%$g mess!