First JPMorgan’s Dimon, now Goldman Sachs’ Waldron: the world is about to get hit with an economic “hurricane”

First JPMorgan’s Dimon, now Goldman Sachs’ Waldron: the world is about to get hit with an economic “hurricane”

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?

For most of this nation’s history under the oppressive rule of private central banking (the Fed), inflation has technically always been a problem. It is just that it remained hidden because of fancy tricks and tools that were designed to keep the masses confused and distracted while the value of the dollar eroded.

The Fed’s little schemes – which are hardly little at all – are not foolproof, though. Every so often, the bubble inflates too much and they run out of hat tricks to keep it contained, resulting in a crash. We saw this most recently at the start of the Wuhan coronavirus (COVID-19) plandemic in 2020, and before that in 2008 with the housing market collapse.

They call these “bubbles,” and at various intervals, these bubbles seem to pop, the big guys are bailed out, and reinflation begins once again. The reality, though, is that the bubbles of the past never fully deflated, and the can of inflation was simply kicked down the road even further.

Currently, we are in the largest bubble of all – the everything bubble to end all bubbles. The crash that is soon to come will be monumental, and this time there is a strong chance that it will not recover.

This time, we are likely to see that ever-ominous “Great Reset” that World Economic Forum (WEF) head Klaus Schwab and others have been warning is soon to come. The current world order, which is mostly built on fiat, will crumble away, leaving a void to be filled by a new world order.

“Western governments have been able to hide inflation, allowing them to spend vast amounts of money,” wrote someone at Zero Hedge about how the fiat printing press aims to keep the house of cards standing, at least for a time.

“Wall Street was able to generate insane amounts of profit by cutting out U.S. labor. The unraveling of all this will be quite a spectacle.”

The latest financial news can be found at DebtBomb.news.

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