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The world is about to get hit with an economic hurricane

Posted by George Freund on June 6, 2022 at 3:10 PM


Another prominent banking executive, John Waldron of Goldman Sachs, is predicting major economic doom in the very near future. At a recent investor meeting, Waldron echoed the sentiments of JPMorgan's Jamie Dimon concerning what Dimon called an "economic hurricane" that is about to make landfall. Joking that he would avoid "using any weather analogies" as Dimon did,


Waldron expressed similar fear about inflation, ever-changing monetary policy, and of course, Russia's invasion of Ukraine, the latter being every Western influencer's favorite scapegoat for what is now unfolding. "This is among – if not the most – complex, dynamic environments I've ever seen in my career," Waldron told investors. "The confluence of the number of shocks to the system to me is unprecedented."


One of the harshest critics of the Federal Reserve in the banking world, Waldron says he expects that there will be "tougher economic times ahead" than even the current inflation and shortage crisis that we are all seeing and feeling. "No question we are seeing a tougher capital markets environment," he explained.


Concerning the merger market, Waldron says he expects a slowing from the current "resilient" levels. "That's going to start to roll over because you see demand destruction, CEOs get a little less confident," Waldron explained. "That's a reasonable expectation, but we're watching that carefully as a signal." From mid-October to late April, global macro data seemed to be moving in a somewhat positive direction, which some saw as a possible turnaround. All of that changed suddenly, however, when the Citi Economic Surprise Index plummeted from over 50 just a few months ago to around 8.60 as of this writing.


Is the "everything" bubble about to burst?


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Categories: New World Order, Economy