Is US Economy in Better Shape for Consumers per White House, or Facing Tailwinds, Turmoil & Imminent Recession? Jamie Dimon’s Global Warnings. China’s Ghost Towns. Disinflation & Bank Capital Rules

How do we understand the latest media tour by Treasury Secretary, Janet Yellen, as she touts reasons to be sanguine on the state of the US economy, in particular the US consumer? Consumers are feeling better about their personal finances though negative, nonetheless, on the overall state of the US economy, she asserted in an interview. Jobs are being created more evenly across the nation, and in areas once starved for middle class employment, she says, crediting recent legislation out of Washington. What’s the reality? On this episode, DICK BOVE, chief financial strategist at ODEON CAPITAL GROUP, asks has YELLEN embarked on the Democratic push for the Presidency, “by assuring the voter that all is well?” MAT VAN ALSTYNE, ODEON co-founder and managing partner, says there are a multitude of negative indicators of an imminent downturn. “There are a lot of tailwinds in this economy,” he says, “and it is unbelievable to me that the Fed is even considering raising interest rates.”

The CONVERSATION examines the recent comments in a fireside chat by JP MORGAN Chairman & CEO, JAMIE DIMON, on the state of global affairs. DIMON notes a major shift in our present realities, from global financial stability to war and peace and China. The mounting global debt crisis is a great cause of concern, he says, as is America’s over-the-top fiscal spending habits. Dimon is hugely disappointed too by the proposed new banking regulations. “Jamie Dimon is describing the very same issues we have been discussing here on our podcast,” says BOVE. Still, BOVE believes bank regulations are moving in the right direction, by striking a new tone on the need for more risk. Elsewhere, we look at China’s latest housing crisis and at the latest on inflation. Joining the CONVERSATION is our host, JOHN AIDAN BYRNE.

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