JPMorgan Chase's 3Q 2018 Pretax Income Up By 12% or Up By $1.1 Bil Over the 3Q 2017, But It All Happened With Poor Earnings Quality ......................................................................................

So nearly all the financial pundits are being effusive in their praise for JPMorgan Chase's 3Q 2018 12% Pretax Earnings increase above that in its 3Q 2017.  They need to get in the real financial world.

This 12% Pretax Earnings increase equates to a $1.1 Bil Pretax Income increase.

So how did they get this $1.1 Bil Pretax Income increase?

Well, believe it or not, their Net Interest Income also increased by $1.1 Bil.  This primarily comes from the US Fed increasing short-term interest rates and has very little with JPMorgan Chase doing anything other than greedily choosing not to pass on to their bank customers their increased Interest Revenues from this US Fed benevolent action.

And in addition, JPMorgan Chase got a Pretax Income increase of $504 mil from dropping by $504 mil its very subjective estimate of its Loan Loss Provision from $1.452 Bil in the 3Q 2017, down to $948 mil in the 3Q 2018.  And yes, that's a drop of 53%.  Give me a break.