JPMorgan’s chief strategist: "we think there is now a higher likelihood of a crisis over the next 6 to 12 months, the severity of which could be higher than market participants anticipate"

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 1 year ago

JPMorgan’s chief strategist: "we think there is now a higher likelihood of a crisis over the next 6 to 12 months, the severity of which could be higher than market participants anticipate"

SpaceDogs@lemmygrad.ml · 1 year ago

I’m trying so hard but I don’t understand what they’re talking about.

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 1 year ago

Basically, the stock market ran on AI hype because people thought that AI would transform the economy somehow. Now the hype is dying down, people are coming back to reality where economy isn’t actually growing and tech stocks aren’t gonna be enough to save it.

ComradeSalad@lemmygrad.ml · edit-2 1 year ago

Last time they said something like this, it was a year before the housing bubble crashed and the world financial markets shit the bed.

Can’t wait to see the new crisis.

Shrike502@lemmygrad.ml · 1 year ago

Wonder how bad would that one go

☆ Yσɠƚԋσʂ ☆@lemmy.ml · 1 year ago

I’m expecting this one will be a lot worse because the last one was stabilized by China buying up a fuck ton of US bonds. Fat chance of China bailing US out this time around. Not only that, but around two thirds of US bonds are held by the Global South, and these countries are now dumping the bonds.