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Destroying Dimon's Delusionary View Of Economic Realities

Tyler Durden's picture




 

Submitted by Lance Roberts via STA Wealth Management,

 

 

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Mon, 09/21/2015 - 16:36 | 6576124 Haole
Haole's picture

Richer than... *cough*  I mean dealt the greatest hand ever... *cough*  I mean...

 

Cufflinks, BTChez

Mon, 09/21/2015 - 16:42 | 6576153 KnuckleDragger-X
KnuckleDragger-X's picture

Dimon telling the truth is like a fish riding a unicycle, but I'd bet on the fish first......

Mon, 09/21/2015 - 17:12 | 6576263 Occident Mortal
Occident Mortal's picture

It's extremely difficult to listen to someone like Jamie Dimon lecture about anything at all. 

 

Here is a guy who has spent 16 hours a day for his entire adult life walking around inside a bank, talking to other people who also spend 16 hours a day basically trapped inside a bank playing some kind of weird "hey we're a team, but we're also trying to screw each other over" game. It's basically like prison but with better food.

 

He could lecture about the compliance systems of JPMorgan or how to subvert obscure regulatory oversight, but who the hell wants to listen to that?

 

The guy is a dullard. He's trapped just like the rest of us. He can't quit JPM and go fish, his ego wont let him. He has to turn up at 5am every day and listen to Mwarp mwarp mwarp mwarp.

I don't know how he copes with such a tedious life. Unless of course he is the terminal bore I suspect he is.

 

He has a billion dollars and doesn't have a fucking clue what to do with it. Mwarp mwarp hmmm I'll use it to buy some bonds mwarp mwarp. Shine a light! You're almost 60 and haven't lived a single day of your life.

Mon, 09/21/2015 - 16:38 | 6576134 The Indelicate ...
The Indelicate Genius's picture

labor participation way down, low or no or negative median income across virtually all industries, H1Bs and illegals getting a large chunk of new jobs, repeat of the Clinton job creation claims {I believe X has created new jobs - I have 3 of them where I used to have 1 that paid my bills}, etc. etc.

The growth of the financial sector goes into "GDP" - but it produces nothing and in the long run is actually deleterious to the real economy...

a little dated, but worth a quick look

http://www.tcf.org/blog/detail/graph-how-the-financial-sector-consumed-a...

ditto:

Financial Sector A Bigger Share Of Economy Now Than Before Financial Crisis
http://www.huffingtonpost.com/2011/12/15/financial-sector-economy_n_1151...

Mon, 09/21/2015 - 16:38 | 6576137 venturen
venturen's picture

just can't hope enough that something bad happens to him and the other vermin

Mon, 09/21/2015 - 16:47 | 6576179 Uber Vandal
Uber Vandal's picture

There was this:

However, what he described does not come ANYWHERE NEAR THIS.

 

Mon, 09/21/2015 - 16:42 | 6576148 MFL8240
MFL8240's picture

 Dimon:

... has the best hand ever dealt right now."

Mon, 09/21/2015 - 17:29 | 6576326 TeethVillage88s
TeethVillage88s's picture

$6.50 for fast food Burger Lunch.

$10.00 Burger Lunch at nice place.

And yet the Cartel says no sign of inflation.

Wholesale Beef prices must not have gone up that much this year from low supply of beef or prices would have been much higher.

Whatever Dimon.

Your Cartel wants our Housing Prices to go up, doesn't give a damn about Legal Fees since you write them off or they come out of Revenues. 50% of us will go bankrupt by age 65 mostly due to health care costs.

Dimon lives in a gilded work like Marie Antoinette.

Mon, 09/21/2015 - 16:43 | 6576161 cougar_w
cougar_w's picture

Dimon is absolutely correct, America has never had it better.

But you need to understand that for Dimon, "America" is code for "Me and a couple of buddies I play golf with".

Then yeah sure, makes perfect sense.

Mon, 09/21/2015 - 16:44 | 6576164 Soul Glow
Soul Glow's picture

The Fed has the greatest printing press and the WIzard of Oz had the greatest hot air balloon.

Mon, 09/21/2015 - 16:44 | 6576166 venturen
venturen's picture

we first need to destroy the corrupt banker anti-capitalistic vortex. These are some of the worst people in history. The hated robber barons used their own money and built companies. These are math tricksters stealing as much as they can to move money to other parts of the world. Ever hear of a robber barron...moving his money to a tax haven? Or moving IP to Ireland to offshore profits?  These corrupt crony have to be destroyed!  The bubble should have wiped them out...but Paulson and then Geithner protected the corrupt bankers. The Tax code is the second destructive force in America where the middle class pay 30% of their income....and warren buffet pays nothing for 10 years or Goldman getting custom tax credits and paying nothing on billions. 

Mon, 09/21/2015 - 16:55 | 6576205 chunga
chunga's picture

Don't ask, don't tell, throw Jamie Dimon down the well.

Mon, 09/21/2015 - 16:59 | 6576217 lawyer4anarchists
lawyer4anarchists's picture

It is beyond me that people still get upset when a guy like this says anything.  He is a known liar. He KNOWS what he is saying is laughable.  Of course america itself is screwed.  He KNOWS that. Nothing the bankers or politicians or high up corporate types say is real. It isn't accident either. It isn't incompetence. It is a plan.  Why waste time analysing it in the context of reality?  They KNOW what they say is absurd to anyone who can actually see.  

Mon, 09/21/2015 - 16:59 | 6576219 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

"Greatest hand ever dealt", eh, Dimon?

 

Talking shit will not extricate you from the fray, Dimon old boy. America might be your preferred home, but New Zealand is likely where you are heading when all the shit blows up in your face,

m  o  t  h  e  r  f  u  c  k  e  r.

Mon, 09/21/2015 - 21:15 | 6577167 Implied Violins
Implied Violins's picture

Master, I'm leaving it up to YOU to make sure his plane suffers the same fate as MH370...since God has stopped posting, and all.

Mon, 09/21/2015 - 17:05 | 6576238 The Indelicate ...
The Indelicate Genius's picture

48 Percent Of U.S. Billionaires Are Jewish. Jewish Americans are the most powerful and influential ethnic group in America. Jewish Americans make up 2 percent of the U.S. population yet comprise 40 percent of U.S. billionaires. 18% of jewish households have a net worth of $1 million or more.Jul 29, 2013
48 Percent Of U.S. Billionaires Are Jewish « Politics Inn
politicsinn.com/48-percent-of-u-s-billionaires-are-jewish/

http://politicsinn.com/48-percent-of-u-s-billionaires-are-jewish/

Jewish Wealth by the Numbers

http://takimag.com/article/jewish_wealth_by_the_numbers_steve_sailer/print

Forbes Israel boasts of power of Jewish billionaires
http://mondoweiss.net/2013/04/forbes-jewish-billionaires

With over 30 years of Jewish Fed leadership, and wildly, crazily disproportionate appointments of Jews to run federal agencies having anything to do with banking/finance - from commerce and treasury to the OMB to SEC to FDIC to CFTC...

Let me guess - the fact that the Tribe over the past 10, 20 years is a much larger % of US billionaires has NO RELEVANCE at all to a broader discussion of economic policy and its discontents, right?

Dimon is about as Greek as the troika.

Mon, 09/21/2015 - 17:21 | 6576302 alfred b.
alfred b.'s picture

 

   Dumon: truth-teller?!?!?,,,,it's like sayin 'honest banker' or the Pope is jewish!!

 

Mon, 09/21/2015 - 17:31 | 6576315 Jstanley011
Jstanley011's picture

What's causing us to fall isn't a lack of natural resources or a populace that is inherently lazy or stupid. It's the financial structure and its resulting debt overhang propped up by a government and monetary authority determined to make every bad loan good that the banksters ever made.

Capital can no longer shift in this economy, from dysfunctional to functional enterprises and systems. It's the politicos now who decide winners and losers from among their cronies, instead of Mr. Market deciding them from among anybody and everybody who cares to compete. With the result, it's no longer what you know that determines success, it's who you know.

Welcome to crony capitalism, with smilin' Dimon as the poster boy.

Mon, 09/21/2015 - 17:33 | 6576341 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

Dimon says the economy is "quite good", while the average American family would absolutely disagree.

Presenting with a vision contrary to his, I'm assuming that Dimon would simply argue that the average American family is wrong and that's why he's so much richer than them.

Mon, 09/21/2015 - 17:39 | 6576357 q99x2
q99x2's picture

Somebody call the police. Jamie Dimon has been spotted. Arrest him.

Mon, 09/21/2015 - 21:16 | 6577176 Implied Violins
Implied Violins's picture

Ssshhh...tell the spotters to get some rope and run interference instead...

Mon, 09/21/2015 - 17:40 | 6576363 Dre4dwolf
Dre4dwolf's picture

More Debt is great, so long as you dont have to pay it back.

You know like all the banks.

Banks borrow the full faith and credit of the American people, turn around and loan that faith and credit back to the American people and charge interest on it.

Thus banks borrow your money, and dont pay it back, in-fact the way things run, not only do they not pay you back, they charge you for the "privilege" of loaning them money.

Thats how things work.

You are delusional if you think otherwise.

This is why people like Jamie Demon are on another planet they are counterfeiters, fraudsters, the entire financial and banking industry is, and the people who work in that industry and dont see it that way are fucking delusional.

 

 

Mon, 09/21/2015 - 17:42 | 6576374 TeethVillage88s
TeethVillage88s's picture

Corporate Bailouts should be Outlawed.

Mon, 09/21/2015 - 17:49 | 6576389 Dre4dwolf
Dre4dwolf's picture

That ship has sailed already.

Thats about as effective as outlawing murder after everyone is already dead and the bankers are holding the knife trying to wipe the blood off their drooling chins like the vampire vermin they are.

Mon, 09/21/2015 - 17:41 | 6576368 TeethVillage88s
TeethVillage88s's picture

#1 in Pandering to Big Business.

#1 in Government Spending
#1 in Health Care Spending (And with no cost controls)
#1 in Fraud Waste and Abuse of Taxpayer Funds
#1 in Laws Destroyed by Lawyers, Most complex Laws, Taxes, Regulations and yet Banking is Non-Standard and mostly Self-Regulatory Organizations (SROs)

- And yet the Core of US Business is Small Business as pointed out above:

"As you can see, almost 80% of all businesses have fewer than 10-employees. This is why economic growth has failed to spark as financial engineering, and monetary interventions, have had little or no impact on the vast majority of American businesses. However, tighter lending standards, increased healthcare costs, increased regulations and higher taxes DO HAVE a large impact on the profitability and sustainability of America, Inc. Therefore, it is not surprising that entrepreneurship and business equity ownership remain on the decline."

- And Small Businesses have the least Lobby Power, unless you consider the Globalism-Pushing Chamber of Commerce

Federal Budget 2014 = $3.5 Trillion (B. Obama)
Federal Budget 2012 = $3.54 Trillion (B. Obama)
Federal Budget 2010 = $3.45 Trillion (B. Obama)
Federal Budget 2008 = $2.98 Trillion (G.W. Bush)
Federal Budget 2006 = $2.65 Trillion (G.W. Bush)
Federal Budget 2004 = $2.29 Trillion (G.W. Bush)
Federal Budget 2002 = $2.01 Trillion (B. Clinton)
Federal Budget 2000 = $1.79 Trillion (B. Clinton)
Federal Budget 1998 = $1.65 Trillion (B. Clinton)
Federal Budget 1997 = $1.6 Trillion (B. Clinton)

Mon, 09/21/2015 - 18:39 | 6576561 Arthur Schopenhauer
Arthur Schopenhauer's picture

Jamie and his ilk says "If you raise taxes on us, we'll leave".

WELL THEN LEAVE, ALREADY!

AND YOU CAN TAKE THE REST OF YOUR GODDAMN DEBT CREATING TAX SUCKING BANKER WELFARE FUCKING ASSES OUTTA HERE WITH YOU WHEN YOU GO.

Mon, 09/21/2015 - 20:48 | 6577046 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Jamie and his ilk says "If you raise taxes on us, we'll leave."

Is that threat or a promise?

Mon, 09/21/2015 - 17:53 | 6576407 Chuck Knoblauch
Chuck Knoblauch's picture

Fuel the jets to Haifa, scumbag.

Mon, 09/21/2015 - 18:04 | 6576444 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

Amerca has the best back hand across the face ever dealt right now.

Mon, 09/21/2015 - 18:15 | 6576492 Duc888
Duc888's picture

 

 

We can truly be proud.  We are absolutely #1 at killing innocent people all over the world.

Mon, 09/21/2015 - 18:20 | 6576494 Arthur Schopenhauer
Arthur Schopenhauer's picture

Jamie ya ain't dead yet so ya still got that goin' for ya.

I'm thinking about spending some money to go up to wherever that fucker is and follow him around... Every time he gets out of a limo or whatever....pointing fingers and yelling at the top of my voice... "Hey everybody! Have a look at this criminal son of a bitch! He's still running around free!!!"

Mon, 09/21/2015 - 18:56 | 6576632 homeskillet
homeskillet's picture

There is no one more suitable for the nailgun treatment than this piece of shit.

Mon, 09/21/2015 - 20:12 | 6576918 goosee
goosee's picture

He and his spawn need a nap! Whatv a dick.

Mon, 09/21/2015 - 21:00 | 6577096 JailBanksters
JailBanksters's picture

Only in the US is the Issuance of Debt considered an Asset. The more Debt you can Issue, the more assets you have, the more assets you have the wealthier you are. When people stop buying your debt, well it's a house made entirely from cards.

Mon, 09/21/2015 - 21:20 | 6577207 thurstjo63
thurstjo63's picture

Dimon suffers from Mad Hatter's disease (to paraphrase). "I can believe a dozen perfectly impossible things for a billion dollars".

 

 

Mon, 09/21/2015 - 21:47 | 6577303 GRDguy
GRDguy's picture

Dimon: The man does well by lying to and stealing from his Muppets.

Tue, 09/22/2015 - 10:00 | 6578736 moneybots
moneybots's picture
"Destroying Dimon's Delusionary View Of Economic Realities"

 

Dimon is a billionare banker.  His view is not delusionary, it is fraudulent.

 

Tue, 09/22/2015 - 10:03 | 6578750 moneybots
moneybots's picture

"Make a list of everything important, rule of law, low corruption"

 

JP Morgan is a convicted felon.  No banker has gone to prison for participation in massive banking fraud.  That is not rule of law, that is rule of privilege.

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