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We've Seen This Before...

Tyler Durden's Photo
by Tyler Durden
Sunday, Jun 05, 2022 - 05:00 PM

Following on the heels of comments made by JP Morgan CEO Jamie Dimon, who warned investors to 'prepare for a hurricane' amid unprecedented challenges, Goldman Sachs President John Waldron has also chimed in, suddenly quite concerned about the future of the global economy.

Sadly, Waldron's warnings on the 'most complex and dynamic environment' he has ever seen in his career echo the warnings which the alternative economic media have been repeating for a long time. In other words, the sentiments of international banking execs are too little too late in comparison and don't do much to help the general public prepare.

Perhaps banking conglomerates have been well aware of the growing threats to the economy and chose not to say anything openly until now, or, maybe they really are oblivious and are only recently waking up to the potential for a crisis. In either case, it is undeniable that independent financial media sources have been right all along about incoming disaster and were far ahead of the mainstream.

The abrupt admissions by “authoritative sources” on the economic decline in some ways mirror events which occurred right before the derivatives crash of 2008/2009. In mid-to-late 2007 globalist institutions such as the IMF and BIS began publishing public statements warning of an impending credit crash which could upset the foundations of international markets and cause another Great Depression. Once again, this was too little too late, but the announcements were surprising as they reinforced the predictions of the alternative media; the same predictions that the MSM called “conspiracy theory” not long before.

Only a year ago JP Morgan and Goldman Sachs analysts labeled the ongoing inflation problem as “transitory” while recommending investors leap back into stocks. Today they act as benevolent oracles predicting danger ahead.

It would appear that the modus operandi of establishment banking institutions is to admit to as little as possible when it comes to potential collapse until the circumstances can no longer be mitigated or when the truth can no longer be denied. Then, they jump in at the last minute and pretend they were the “experts” that “saw it coming all along,” offering their services as fiscal saviors with all the answers. If anything, recent statements by Dimon and Waldron at least tell us that time is running out, because they wouldn't be saying anything unless the next shoe was about to drop soon.

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