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Rebel Capitalist News

News: Earnings Reports From Well Fargo and JP Morgan Tell Us the Truth About the Economy

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 11 October 2024

⏱️ 18 minutes

🧾️ Download transcript

Summary

The Rebel Capitalist helps YOU learn more about Macro, Investing, Entrepreneurship AND Personal Freedom.✅ Come to Rebel Capitalist Live here https://rebelcapitalistlive.com/   ✅ Check out my private, online investment community (Rebel Capitalist Pro) with Chris MacIntosh, Lyn Alden and many more for $1!! click here https://georgegammon.com/pro   ✅Rebel capitalist merchandise https://www.rebelcapitaliststore.com

Transcript

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0:00.0

Hello fellow Rebel Capital So beer Wells of the big banks are coming out with earnings and

0:06.1

J.P. Morgan Wells Fargo reported this morning.

0:10.7

But what's interesting is when you get into the details of what they're actually reporting,

0:18.0

it tells you a lot about what is happening with the economy and more specifically with the US consumer and then it also tells you or it sheds light on the edge that J Morgan has because basically they own the Fed.

0:37.0

But we'll save that topic for another video.

0:41.7

Let's get right into it here with Wells Fargo. And then I also want to

0:47.6

tie this in to what we're seeing with Global Central Banks, because I think that's a key component as to what we're seeing

0:57.0

here with the earnings with, especially Wells Fargo.

1:00.3

All right, right at the top, Wells Fargo shares jump after earnings. I love how they do this.

1:05.4

J.P. Morgan did the exact same thing. So the mainstream media can come out and just promote the, what is it, the J-I-M-P.

1:15.0

Well, you guys know what that is.

1:16.6

If you've been watching my videos lately, you know exactly what that is.

1:19.1

That's right here.

1:20.1

This is what CMBC does every single time that we have an earnings report from the big banks.

1:26.2

Well, any time any economic data comes out,

1:29.8

this is exactly what they do because they spin it in a way that's just obnoxiously

1:35.6

bullish and euphoric to the point where they J-I-M-P.

1:40.9

Non-form payroll 254 JIMP

1:46.6

same thing today with bank earnings but what you'll find interesting is all of these shares pop but yet the numbers weren't that great.

1:57.0

It's just they're better than expectations.

1:59.0

So that's the game we're playing now.

2:00.0

It's let's lower the expectations all the way down here.

...

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