We.Are.Not.In.A.Recession.

May 3rd, 2008

I had no idea that JP Morgan Chase & Co. executives were fortune tellers.

JPMorgan Chase & Co (JPM.N) does not expect the U.S. financial crisis to end soon and will remain very cautious, its top executive said in comments published by a German weekly on Saturday.

“We can only speculate how deep and how long the recession in the United States will really be and how that in turn will impact banks,” James Dimon told “Welt am Sonntag.”

Seeing that the United States is not yet, by definition, in a recession, I find it hysterical that he is actually talking about how deep and how long the recession (that doesn’t exist yet) will last. Just once I would like people to be honest. Just once I would like people to tell the truth. Why make comments like that? Talk about fear mongering.

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