JPMorgan CEO Jamie Dimon told analysts on a conference call today that it's his "personal belief" the economy is improving. Why, according to the Fly on the Wall?
- Higher retail spending
- Record auto sales
- Rising home prices
- New household formation
- Increased business and consumer confidence
- "Plus if you take a walk around the world, Japan is doing a little better, Europe is doing better"
Yeah, but: Dimon is as smart as anybody on the economy but he may be underestimating global risks. The Chinese economy continues to slow, the Japanese government continues to rack up debt with no end in sight, and the European Union is facing one existential crisis after another.