Speaking out after abandoning his potential mega deal with allergan, calling out the treasury in an op ed. And jeff immelt taking on Bernie Sanders in an op ed of his own, saying we create wealth and jobs instead of just calling for them in speeches. Lets take dimon first. Jpmorgans jamie dimon warning increased volatility is likely to stay. He writes, the good news is that the system is resilient enough to handle the volatility. The bad news is that we dont completely understand why this is happening. Dimon discussed the banks healthy Balance Sheet, showed some disappointment in the Stock Performance compared to the benchmark over the past decade on the heels of that journal op ed the other day. Look, he talks about what the Balance Sheet really means. Best line in the letter was, you can see in the table below that Jpmorgan Chase alone has enough loss absorbing resources to bear all the losses assumed by the 31 largest banks in the u. S. Thats the good news. Bad news, you know there
Oil. Or more exactly the fading fears that declining oil would cause a credit crunch that could seize up the worlds banks. C and send the Global Economy back into recession. Will the strength continue . One way to find out. Lets go to the game plan. As an old ink stained newspaper person who covered homicide i dont want to bury the lead. The fed speaks wednesday. Im concerned that with oil coming back so hard the fed has lost the principal reason. Fed is afraid of wages coming back and even as its stagnant the oil rally is in fair face. It mighthtake for a nasty statement although i dont expect an actual rate hike. I wonder if we arent too bullish about the run in oil. I will have more on that later in the show. We should never forget we want equilibrium where the Oil Companies arent wiped out, but the consumer is saving money all the the pump and could spend more at the retail or restaurant. Monday we have a wild one. 99 times out of a hundred i couldnt care less about this Company Ca
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