Jamie Dimon
Jamie Dimon

“Who the hell knows?” said JPMorgan Chase chief Jamie Dimon, the favorite economic forecaster of the media and Wall Street.

He made that incredibly honest remark after entertaining analysts at a June 1 financial conference by delivering a meteorological forecast.

Dimon warned about the need to brace for an “economic” hurricane.

He then went on to downgrade that hurricane, saying it could turn out to be a minor one or a superstorm Sandy.

Dimon further muddled the forecast, noting some “bright clouds” over the US in terms of plentiful jobs, rising wages and a robust banking sector.

His presentation had many in the audience scratching their heads.

Dimon’s talk comes as the world’s economy faces unprecedented challenges from rising energy prices, raging inflation, potential food shortages, US midterm elections and war in Ukraine that could result in a nuclear disaster.

The JPMorganChase chief could have saved time and energy by limiting his talk to: “Who the hell knows?”

That single remark would have generated huge headlines throughout the world and neatly summed up the very uncertain global economic condition.

Dimon made the correct career choice by choosing banking over becoming a TV weatherman.

FTI Consulting Activism Vulnerability Report

Corporate activists take a breath. There was a slight uptick to 172 activist campaigns launched against US companies during the first-quarter, according to FTI’s activism vulnerability report. There were 169 campaigns launched during the 2021 period.

Technology, media and telecom ranked as the most targeted category, followed by healthcare/life sciences and financial services.

FTI found that activists gained only 39 board seats during the quarter, which was the fewest number for the last four years.

Despite the muted activism activity, rising interest rates and continued volatility in the stock market will provide some opportunities for activists to make a run at underperforming companies.

But who knows how things are going to turn out? Right, Jamie?

Stop scapegoating the mentally ill for your unwillingness to deal with the nation’s mass shooting plague.

That’s the message of the American Psychiatric Association to Republican lawmakers.

It notes that the overwhelming majority of people with mental illness are not violent and are more likely to be victims of violent crime than perpetrators.

Rhetoric that blames mental health for mass shootings “will further stigmatize and interfere with people accessing needed treatment without addressing the root causes of firearm violence,” said the APA.

Texas Governor Greg Abbott is scapegoating the mentally ill. He ruled out any gun restrictions in the aftermath of the murder of 19 students and two adults at Robb Elementary School.

His public comments about ending the mass shooting epidemic focus on mental healthcare and school security.

On June 1, Abbott asked the Texas legislature to create committees to deal with mass shootings.

They are to focus on firearms safety, school safety, mental health, social media and police training.

Abbott is not one of those “rational Republicans” that president Biden is trying to find for a gun control deal.