No recession to come, Dow bounces

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Jamie Dimon" – the Anti-bitcoin CEO from JPMorgan Chase & nbsp; – indicates that a global recession is not announcing and that everyone must "take a deep breath" and calm down. "data-reactid =" 31 "> Jamie Dimon, CEO of JPMorgan Chase, anti-bitcoin, says: the global recession is not announcing, so everyone has to" take a deep breath "and relax.

Dimon said the Dow Jones and other stock indexes were only temporarily failing, but that does not mean the US economy will soon sink into a recession.

Dimon to everyone: "Take a deep breath"

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" This seems to me a slowdown [not a recession], Said Dimon Fox Business& nbsp; (video below). "The feeling has changed dramatically for a variety of reasons. But the United States continues to grow at 2.5%. We just had good data on wages. "" Data-reactid = "34"> "It seems like a slowdown [not a recession]Said Dimon to Fox Business (video below). "The feeling has changed dramatically for a variety of reasons. But the United States continues to grow at 2.5%. We just have good data on wages.

It is very possible that we have a slowdown. People [should] take a deep breath. Things will open a little.

Dimon said the recent fall in the stock market was due to concerns about rising interest rates and a possible trade war between the United States and China. But things have calmed down since then and the market has rebounded well.

<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Despite the recent turbulence in the markets, the l & # 39; US economy is The unemployment rate dropped to its lowest level in 48 years and 312,000 jobs were created. added In December 2018, far more than the 177,000 expected. "data-reactid =" 40 "> Despite recent turmoil in the markets, the US economy is doing well, the unemployment rate has dropped to 48 In December 2018, 312,000 jobs were created, a significant more than the projected 177,000.

"It seems like there will be growth," said Dimon. "It's not like we're going into a global recession. Our growth may be slower than what people expected a few months ago. "

In addition, Jamie Dimon said that American consumer confidence was "in good shape" and that it would continue to improve.

"If you look at real data, people find jobs, more people [are] work, wages go up, "explained Dimon. "The household balance sheet is very good, the credit card credit is extraordinarily good. It's better than we deserve at this stage of the cycle. "

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "On January 8, the Dow Jones Industrial Average closed at 23 787, up 256 points, thus continuing five days "data-reactid =" 44 "> On January 8, the Dow Jones Industrial Average closed at 23,787, up 256 points, continuing a five-day rally.

Dow Jones Industrial Average close Jan 8

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Canadian economist: 80% chance of recession in the United States

Dimon's bullish outlook is significantly different from the bullish outlook of Canadian economist David Rosenberg, a strategist at Gluskin Sheff, a Toronto-based investment firm.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "As reported by CCN, & nbsp; Rosenberg is not impressed by the recent takeover of the Dow.In fact, he says that there is a chance of 80%"data-reactid =" 60 "> As reported by CCN, Mr. Rosenberg is not impressed by the recent economic recovery of the Dow Jones.In fact, he claims that there is 80% The chances are that the US will find itself in a recession, resulting in a global economy.

"We have more than a 80% chance of recession simply because the Fed is tightening its policy," Rosenberg told CNBC (video below).

For the record, Rosenberg had predicted in 2017 that the US economy would collapse in 2018, but that did not happen.

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Rosenberg has largely blamed the so-called coming recession on Jerome PowellThe president of the US Federal Reserve, Data-reactid = "65"> Rosenberg has blamed much of the blame for the alleged recession in the future on Jerome Powell, chairman of the Federal Reserve.

The Fed raised interest rates seven times during President Donald Trump's two-year presidency. On the other hand, the Fed raised rates only once during Barack Obama's eight years in office.

Powell has received much criticism following the Fed's interest rate hike for the fourth time in 2018, which caused the stock market to fall and fears of a recession.

Ron Paul, supporter of Bitcoin: abolish the Fed!

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "US Congress retired, Ron Paul – the father of the current US Senator Rand Paul & nbsp; – reacted by renewing his calls to the abolish the Federal Reserve. "data-reactid =" 69 "> Ron Paul, retired US Congressman, father of current US Senator Rand Paul, reacted by renewing his calls for the abolition of the Federal Reserve .

In the midst of many volcanic reactions, Powell softens his position. On January 4, two weeks after the fourth rate hike in 2018, Powell had promised to be "flexible" and sensitive to how repeated rate hikes could revive the stock market.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" We listen carefully, sensitively to the message that the markets send "& nbsp;Powell swore& nbsp; Jan. 4. "And we will take those risks down when we develop a policy." "Data-reactid =" 71 ">" We listen carefully, taking into account the message the markets are sending, "Powell promised on 4 January. "And we will take those down risks into account when we develop a policy."

Crypto Exec: 2019 will be epic

Meanwhile, in Crypto Land, many leaders remain optimistic about Bitcoin and expect a turning point for 2019 for the sector.

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "As reported by CCN, Travis Scher – a vice president of the crypto investment company Digital Currency Group & nbsp; – expects a influx of institutional investments "Data-reactid =" 74 "> According to CCN, Travis Scher, vice president of Digital Currency Group's cryptographic investment company, expects an influx of institutional investments this year as part of of a sectoral consolidation.

"It's very real. Companies like Goldman Sachs, Fidelity and ICE are publicly making big changes in space, "said Scher. "Business leaders opposed to change who have made fun of cryptography will be embarrassed when their repugnant quotes resurface."

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Selected image of Flickr /Fortune Global Forum"data-reactid =" 76 ">Selected image from Flickr / Fortune Global Forum

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