This is not looking good.

NEW YORK — JPMorgan Chase & Co.'s chief executive said Monday that while the crisis in the credit markets appears to be three-quarters over, he believes a U.S. recession is just beginning.

"Even if the capital markets crisis resolves, it does not mean that this country will not go into a bad recession," said CEO James Dimon, whose bank saw its first-quarter profit fall by half due to the recent collapse of the U.S. mortgage market. "The recession just started."

Hmmm... I can easily ignore it when politicians blather about recession, but when prominent businessmen who are intimately acquainted with the financial world are worried, I think we might all wanna be a bit worried too.

unfortunately, the economy isn't like the weather. you can't just look out the window to see what it's like, or look up what's upwind from you to tell what it will be like later.

...whose bank saw its first-quarter profit fall by half ...

Don't you all feel terrible that they only made half the profit they expected to? Awww. This country may well be headed into a major recession, however the author of that quote will most likely never experience the reality of one - other than by reading a balance sheet.

Don't you all feel terrible that they only made half the profit they expected to? Awww. This country may well be headed into a major recession, however the author of that quote will most likely never experience the reality of one - other than by reading a balance sheet.
gee, could those short earning have much to do with a recent major purchase? even with the price they paid being a steal, they still laid out a ton of cash for it...which came out of profits.

gee, could those short earning have much to do with a recent major purchase? even with the price they paid being a steal, they still laid out a ton of cash for it...which came out of profits.

Are you referring to the Bear Stearns earnings?

gee, could those short earning have much to do with a recent major purchase? even with the price they paid being a steal, they still laid out a ton of cash for it...which came out of profits.

Are you referring to the Bear Stearns purchase?

when a society lives on credit, it is inevitable.

Are you referring to the Bear Stearns purchase?
of course.

Roger Smith did the same thing at GM. go on a spending spree when times where ok for profitability, and some other companies were having a hard time. wham boom bam...GM didn't send out profit sharing checks that year, but they had Hughes and EDS :@@:

look for JP Morgan Chase to use this as an excuse to let ppl go.