JPMorgan's Dimon: Biden Should Stop "Scapegoating" Trump Voters, "He Was Kind Of Right" About NATO, Immigration, Economy, China JP Morgan CEO Jamie Dimon said "all this negative talk about MAGA" is going to "hurt President Biden's re-election campaign" during an appearance Wednesday on CNBC from Davos. "They're basically scapegoating" Trump supporters, Dimon said. "Just take a step back, and be honest. He was kind of right about NATO, he was kind of right about immigration. He grew the economy quite well. Tax reform worked, he was right about China." "The Democrats have done a pretty good job with the 'deplorables' hugging onto their bibles and beer and guns. I mean, really? Can we just stop that stuff and grow up and treat other people with respect?" https://www.realclearpolitics.com/v...ght_about_nato_immigration_economy_china.html
For one small example of Jamie Dimon's position with respect to Trump see the thread on Biden's proposal to limit overdraft fees. For a broader explanation see Trump's positions on the regulation of business and his position on limiting taxes on corporations and the ultra rich.
LMGTFY Jamie Dimon says to be prepared for recession | CNN Business. Jamie Dimon is skeptical about the ‘Goldilocks’ economy scenario US economy starting to look 'more like the 1970s,' JPMorgan Chase's Jamie Dimon says JPMorgan CEO Jamie Dimon warns Wall Street of a recession Jamie Dimon says Americans are on a ‘sugar high’ when it comes to the economy—he's urging clients to batten down the hatches
WSJ article used the OP's quote as a starting point. It's informative. https://www.wsj.com/articles/the-th...olitics-trump-db01d9e8?mod=opinion_lead_pos10
Don’t know where you are getting 200% from. If you get past the sensational headlines written by children what he is actually saying makes sense. While things are looking better, we are far from out of the woods on inflation, and recession, while less likely, is still more than just a possibility. No one in areas of responsibility at the Fed is even talking about 6 rate cuts this year as Wall Street is pumping. Dimon was damn near 100% correct on the MBS crash with subsequent housing bust. He wasn’t public about it early on because he was liquidating Chase’s portfolio of MBS first, as he should. Personally, I’m not a big fan of his but he doesn’t double down on his mistakes and he makes the right adjustments. While I’m sure you don’t like his most recent statement it is resonating big time with all but the Stiglitz/Krugman crowd. If I was hiring one of the three to manage my money it would damn sure be Dimon. He sure isn’t perfect and as I said, I’m not his biggest fan; but to say he’s been 200% is ludicrous
Come on dude. Economy got no where close to what he predicted over 18 months and it was never near where you were fooled into thinking it was. Just own it.
I have owned it. I’ve admitted on here that Powell has done a great job on a soft landing. That doesn’t mean he and the rest of the Fed weren’t morons for letting the spending get so far out of hand, and it doesn’t mean Dimon and others were 200% wrong because the 24 year old writers on Yahoo and Market Watch printed headlines that slanted Dimon’s statements. Much of what I heard Dimon say over the last few years is what a sensible advisor would do; acknowledge the current number and the future risk. Dimon was never a doom and gloom guy. Just a smart guy noting the realities of the situation. But no one would know this if they only went to Yahoo and Marketwatch(particularly yahoo). Unlike you and many others here, I am not an economic simpleton. The Biden Cheerleaders love to tout the S&P and the unemployment rate as total evidence that all is well(you guys aren’t as good as Kevin Bacon and one of you even stated that today about the S&P), but we are still quite a ways away from a healthy growth rate with under 2% annual inflation. What you simpletons fail to recognize is there is still a huge bill ahead in terms of lower than expected real economic growth due to the high cost of capital that developed after the inflation roared up and interest rates adjusted accordingly. Sensible people realize that a higher discount rates in the ROI and NPV analyses push many more project’s returns below required thresholds and therefore these projects do not move forward. We had many projects in our 2024 Capital planning process that would have been approved 1-2 years ago that weren’t really even close with the projected cost of capital for this year. I realize that these are the discussions that are held after the Communications and HR staff have left the meeting so therefore what I’m saying may sound like Chinese to you. But trust me this is real. You can even go look it up yourself. But please don’t ask the 24 year old writers at Yahoo. Talk to someone without a political spin who has actually wlaked this road before. The capital projects of today drive the innovation and growth of tomorrow. And before all of you Fantasy Football GMs run out and start pulling national stats on capital spending just know this; We and several others in our industry are spending more in capital for 2024 than in either 22 or 23. But the projected return on that capital spending is considerably lower than those earlier years as well as the qty of projects. We did a study in Grad School estimating the economic impact of Paul Volcker had started easing rates earlier than he and the Fed did in the early/mid 80’s. The impact was substantial and would have fueled much quicker GDP(GNP in those days). What was also found that the long term sustained growth during the subsequent years would have been lower and bumpier as inflation would have come back by and in the late 80’s/early 90’s. Please do more research than finding 1-2 economic stats to run with that support your political narrative. Things are a little more complicated than that.
Dimon could be right and he’s been very, very successful but it’s hard to take him seriously anymore. The guy has let his power get to his head and is such a megalomaniac that’s he’s spending $5B on a new office tower in NYC so he can have the highest office in the US. His last quoted line is about treating people with respect which is interesting and makes me wonder if he’s actually paid attention to MAGA while leveling those accusations at Democrats (no angels themselves).
We will start showing the deplorables respect once they stop doing stupid things and quit committing so many violent crimes along with all the death threats they like to make.
