Jamie Dimon: We’re Getting a ‘Bad Recession’

first_imgHome / Daily Dose / Jamie Dimon: We’re Getting a ‘Bad Recession’  Print This Post Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Coronavirus Jamie Dimon JPMorgan Recession 2020-04-06 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Jamie Dimon: We’re Getting a ‘Bad Recession’ Related Articles The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago April 6, 2020 1,817 Views Sign up for DS News Daily Share Save in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago JPMorgan Chase CEO Jamie Morgan expects the coronavirus crisis to include a “bad recession” and elements of financial strain similar to the 2008 downturn, he said in his annual report to shareholders.“We don’t know exactly what the future will hold—but at a minimum, we assume that it will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008,” Dimon said in his annual shareholder’s letter. “Our bank cannot be immune to the effects of this kind of stress.”Dimon, who has returned to JPMorgan after a heart procedure last month, added that while JPMorgan “will participate in government programs to address the severe economic challenges, we will not request any regulatory relief for ourselves.”“After the crisis subsides (and it will), our country should thoroughly review all aspects of our preparedness and response,” Dimon said. “And we should use the opportunity to closely review the economic response and determine whether any additional regulatory changes are warranted to improve our financial and economic system. There will be a time and place for that—but not now.”Dimon adds that the bank’s earnings “will be down meaningfully in 2020” because of the coronavirus. He also warned that in an “extremely adverse” downturn in the U.S. economy, JPMorgan would probably consider suspending its dividend to preserve capital.Dimon also praised the Federal Reserve’s actions to relieve strains in financial markets, saying the central bank could take several more steps, including offering additional lending facilities and relaxing capital and liquidity requirements to boost the system if needed.For consumers, Dimon notes that JPMorgan is offering relief measures, including providing a 90-day grace period for mortgage and auto loan/lease payments and waiving any associated late fees.“We have the resources to emerge from this crisis as a stronger country,” Dimon said. The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn Demand Propels Home Prices Upward 2 days ago Previous: The Impact on At-Risk Homeowners Next: Federal Reserve Announces Additional Relief Measures Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Coronavirus Jamie Dimon JPMorgan Recession Subscribelast_img read more

Fine-scale distribution of juvenile cephalopods in the Scotia Sea and adaptive allometry of the brachial crown

first_imgThe pelagic nekton community was sampled with the RMT 25 opening/closing net and a neuston net at two stations in the Scotia Sea south of the Antarctic Polar Front in the open ocean (Station 1) and on the South Georgia northwestern slope (Station 2). Downward oblique tows were made with the RMT 25 through discrete 200 m layers to 1000 m in daylight and darkness. A total of 119 cephalopods representing nine species were removed from the samples, and mantle and arm lengths were measured to the nearest 0.1 mm. The most abundant species at each station was an undescribed Brachioteuthis sp. (B. ?picta). Galiteuthis glacialis and Alluroteuthis antarcticus were caught at both stations. Histioteuthis eltaninae, Bathyteuthis abyssicola and Psychroteuthis glacialis were caught at Station 1. Mastigoteuthis psychrophila and a Chiroteuthis sp. were caught at Station 2. B. ?picta was present throughout the water column to 1000 m at both stations, with little evidence of ontogenetic descent. There was evidence for ontogenetic descent in G. glacialis. This species was absent from the Antarctic Surface Water (ASW) at Station 1, where it was concentrated in the Circumpolar Deep Water (CDW). At Station 2 it was present throughout the water column to 1000 m. The other species were all caught in the core of the CDW (>400 m). In juvenile B. ?picta, G. glacialis and A. antarcticus, growth of the brachial crown is positively allometric with respect to mantle length. Recent data on biomass spectra in high-latitude pelagic systems show that they are characterised by the presence of peaks of biomass separated by biomass minima. Positive allometric growth in the brachial crown of these antarctic oceanic squid is suggested to have evolved as an adaptation to the peaked, or domed, structure of the pelagic biomass spectrum which must be spanned by these predators as their optimum prey size increases with growth. Interspecific differences in the allometry of tentacle growth are probably related to differences in strategies for stalking and capture of prey.last_img read more