Courtesy of Pam Martens.
By Pam Martens and Russ Martens: September 1, 2015
JPMorgan Asset Management is running “sponsored content” at Barron’s, the financial publication, with today’s date and a remarkably rosy economic outlook given last week’s market rout and this morning’s Dow futures plunging to down 396 points at 9:02 a.m. – just 28 minutes before the market was set to open in New York.
There used to be a time when advertising in newspapers was called advertising and you knew money was changing hands. All Barron’s is saying about JPMorgan’s “sponsored content” is this: “Barron’s news organization was not involved in the creation of this content.”
Here’s the curious part of what JPMorgan Asset Management has to say about the U.S. economy:
“…we find little to indicate that a slowdown is imminent. In any event, historically there’s been a long lag between signals of a downturn and the onset of recession. In the past, it has taken about a year for an inverted yield curve, the classic symptom of diminished expectations, to translate into a business downturn. It has taken more than four years on average for a recession to follow on the Federal Reserve’s first rate hike of a cycle—and after nearly a decade we are still awaiting that first hike.
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