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This is the Tom Hartman program.

The economic bleep storm coming is due to Reagan's deregulated economy.

Jamie Diamond, Jamie Diamond is the head of JP Morgan Chase, the largest bank in the United States.

He said something that caught a lot of attention.

He was talking about how the economy, well, last week he said there are storm clouds on the horizon

yesterday or day before yesterday. He said, no, it's a hurricane, there's a hurricane coming.

So what is this all about? What's going on?

Well, obviously there's some problem, shall we say.

You've got the price of oil spiking around the world as a result of the Russian invasion of

Ukraine. Now there's a small possibility that Saudi Arabia is going to jump in. They said

they're going to raise production by 200,000 barrels a day. Keep in mind, they're still down 2.2

million barrels a day from the production cut that Jared Kushner negotiated with them in the

last months of the Trump administration, which is really what's driving this problem. So you've

got that. The increased demand as a result of COVID kind of going away and America getting back

to work. But the big overhang and the big freak out, frankly, and my concern is what's going on

...