JP Morgan lost $2Billion on bad trades; US loses $4 billion A Day!

                   
                  
                     How about corporate losses on FB viewing by employee while working?


The article says that the public sector is overhyping the JP Morgan $2 billion loss on trading. Yet that is small percentage of its $250 billion, JP Morgan makes money; the US govt loses $4 billion a day on massive debt of $l5 trillion. ( deficit of  $l.3 trillion!!?) Does the media, the public make a fuzz out of that?.

How about the estimated $3.408 billion that the US corporate world losses from FB usage by employees during working hours?

Why am I posting this?  What is the relevance of this post to business entrepreneurship in the PHIL?  (We have students working at JP Morgan at this term? Right?)

                         

                       
            
 US budget deficit

                           




The JPMorgan Incident, in Real Talk

Is This the Start of the Financial Armageddon in the US?

Dow Suffers Biggest Monthly Point Loss in 2 Years

                    

Dow Jones index ended 820 points lower in May at 12, 393, erasing gains made in March.  The market was spooked by:


 



l.  Lower employment figures than expected;

2.  Higher number for unemployed food stamps;

3.  Lower oil prices  from $l05 to $86/ barrel (bad news for energy companies;  good news for consumers)

4.  Dismal news on:

 


         Facebook which started at  $38.00 and ended last May 3l at $8 lower (that erased a lot of values)
 

         JP Morgan Chase of $2B on trading losses which damaged the reputation of Jamie Dimon, CEO of Chase

         The announcement of ECB President Draghi of Greece exit from the Eurozone.  Spain, which may exit earlier, promises to be a much bigger concern.

Investors Fleeing to US Treasuries

Investors were flocking to US debt instruments -  the US treasuries whose yield was at l.54%  its lowest.  It used to trade at 1.62%  (Take note China is dumping these instruments)

Is this the start of Financial Doomsday in the US?