Sunday, September 20, 2015

Jamie Dimon, CEO of JP Morgan Says This Is The Best Time For America.

Yahoo - Business Insider - JAMIE DIMON: 'America has the best hand ever dealt right now'

Jamie Dimon, he CEO of JP Morgan recently made the following quotation:

"Make a list of everything important, rule of law, low corruption, unbelievable innovation, entrepreneurship ... the deepest capital markets — I'm not talking about banks. I'm talking about venture capital, private equity, companies, individuals, the best science, technology, engineering, math the world has. In fact, we train 40% of them [to] go back overseas."

His quote shows just how out of touch with Americans he is. We have the highest percentage of people without jobs in just about our whole history. We have the highest income inequality since the early industrial revolution. We have been involved in the longest wars in our history and the highest debt in our history. What Mr. Dimon is talking about is what is important to him. Let's look at the specifics of what he is saying.

1. Rule of Law. Well Mr. Dimon has overseen his company while it has had to pay over $25 Billion in fines for rigging all the financial markets. The law may be harder on the rest of us; but, no bankers went to jail for destroying this nations economy.
2. Low corruption. Again, more corruption than ever before has occurred since 2002. The housing bubble and stock market insider trading have been rampant and again with few if any jailed for it.

Those are the two things he listed as the most important. He never talked about the things that matter to most of us because those things are not his concerns.

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