Jamie Dimon Bets Trump Will Last Only One Term As President

In an October 2017 interview, Jamie Dimon famously lambasted Bitcoin as a “fraud” and the people who bought it as “stupid” which, temporarily, halted the ascent in the Bitcoin price. It also led to much heated debate in the mainstream media and much anger across the crypto community. In a just as incendiary follow up, Dimon sat down for another interview, this time as “The Economic Club of Chicago”.

We wondered whether he would confirm recent reports that JPMorgan Chase would buy and sell Bitcoin futures for clients after the upcoming launch on the CME. Sadly, he wasn’t pressed on this question. Instead, he had some striking comments about the longevity of Trump’s Presidency, as Reuters reports.

Jamie Dimon, chief executive officer of JPMorgan Chase & Co, on Wednesday said he expects to see a new U.S. president in 2021 and advised the Democratic party to come up with a “pro-free enterprise” agenda for jobs and economic growth instead. Asked at a luncheon hosted by The Economic Club of Chicago how many years Republican President Donald Trump will be in office, Dimon said, “If I had to bet, I’d bet three and half. But the Democrats have to come up with a reasonable candidate ... or Trump will win again.”

 

Dimon, who in the past has described himself as “barely” a Democrat, has been going to Washington more often since the 2016 elections to lobby lawmakers on issues including changes in corporate taxes, immigration policies and mortgage finance.

 

In December, Dimon became chairman of the Business Roundtable, an association of CEOs who take their views to government policymakers.



As Bloomberg adds, Dimon had “several digs” at Trump during the hour-long discussion which covered issues from the current tax reform, lessons from the financial crisis and gender equality in the workplace.

Regarding the nation to the south, Dimon said that “we should never be rude to a neighbor like Mexico." Dimon conceded that sometimes the president is "partially right,” like on his stance with China, which has unfair advantages in terms of trade. And the CEO offered his opinion that Detroit Mayor Mike Duggan should be president, based on the job he’s done with that city.

 

Dimon, who is chairman of the Business Roundtable in addition to running the largest U.S. bank, also proposed what he’d like to see in the tax overhaul that Trump aims to make the signature achievement of his first year in office. The U.S. needs to cut corporate rates to keep businesses from moving abroad, even if that means raising rates for wealthy individuals and removing the carried interest tax break for investment managers, Dimon said.

Pushing negative tax rates for low income individuals and limiting state and local tax deduction, because it benefits the wealthy, Dimon was on fine form in terms of showing his “caring” side. From Bloomberg.

“I don’t think the private equity guys should argue for carried interest, I don’t think the hedge fund guys should be arguing for deferrals, I don’t think I should argue for reducing my rate,” he said. “If you want to raise my rate, so be it.”

Moving on to gender, race and how he loves his job, Bloomberg reports.

Dimon spoke for several minutes about discrimination over gender and race which he said is not acknowledged enough in the United States. “If you’re white, paint yourself black and walk down the street one day, and you’ll probably have a little more empathy for how some of these folks get treated,” Dimon said. “We need to make a special effort because this is a special problem.”

 

Dimon gave his own bank a mixed review on diversity. His direct reports include people who identify as lesbian, gay, bisexual or transgender (LGBT), and half are women as are 30 percent of the top 200 JPMorgan executives, he said.

 

Now in his 12th year as JPMorgan’s CEO, Dimon also reflected a bit on his own role. “I basically love my job,” Dimon said. “I mean, it’s tiring; it’s exhausting. I have to go down to Washington all the time and it’s a big pain in the ass, but I basically love my job.”

Bloomberg also reports that Dimon is going to write a book about the financial crisis. We presume he means the last one, not the one that’s coming, although if he waits a little longer, he should be able to do both. If it’s the last one, we look forward to hearing why JPM, as Lehman’s main “clearing” bank, deprived Lehman of billions of dollars of collateral just prior to the latter going bankrupt. JPM was subsequently fined $1.42 billion.

As for Jamie Dimon, he is worth over a billion dollars. He is also, infamously, "richer than you."

Comments

Scar Bro ParkAveFlasher Thu, 11/23/2017 - 07:29 Permalink

Is Dimon jewish? This is the problem our society has. There is literally no way to tell. His wife is jewish, all his friends are jewish... but apparently he is not....but Harrison Ford is. 48% of billionaires are Jewish whilst accounting for just 2% of the population. It's because they are more intelligent? Yeah, well the stats don't support that. It's not what you know, it's who you fucking know and if I want to be rich, ive got to make rich people want to do business with me. If 48% of all rich people are jews.... then I gotta start doing shit jews like... MAybe I should support aid payments to Israel? Maybe I should support ANY WAR Israel wants? Maybe I should cancel christmas, Maybe I should put references to jewish culture in EVERY FUCKING PROGRAM ON TV cause hey, it's relevant to 2% of the population - fuck mexicans Maybe I should be a traitor to my country? Maybe I should be plotting against the leader of my nation. Trump needs to do to this guy what Putin did to Khodorkovsky (who is incidentally, a billionaire... and also a jew with connections to the Rothschilds)

In reply to by ParkAveFlasher

Handful of Dust Scar Bro Thu, 11/23/2017 - 07:42 Permalink

He and the other bankers are mad because they pissed off millions supporting crooked Hillary and she lost by a landslide.The DNC has to come up with some reasonable candidate like who?Maxine/Conyers, 2020?Joe 'pedo' Biden/Tim Kaine, 2020?The wookie/Dona Brazille, 2020?The Dem leadership already said "it don't wont no white folks in da DNC" so Biden and Kaine will have a rough time of it.Trump is not prfect but remember he is fighting on all sides -Swamp Creatures, MSM, Hollywood, Demorats, Repugnicans and all the soros funded terror groups.He's still 100% better then Hillary!

In reply to by Scar Bro

Escrava Isaura Philo Beddoe Thu, 11/23/2017 - 09:33 Permalink

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Trump is one term President because his policies will be a disaster for the swing voters. And, if the democrats come up with a new face, faces the likes of Oprah Winfrey or Mark Wahlberg they will crash Trump, because these people won’t be political correct, meaning sounding like a lawyer.  

In reply to by Philo Beddoe

lil dirtball Scar Bro Thu, 11/23/2017 - 07:44 Permalink

> just 2% of the population

This is a (((meme))). It's way larger than that, but the deceptive (((fuckers))) that they are, like Dimon, makes it hard to tell who's who. It's probaly better than 50%. For instance, a lot of Scottish-sounding names are Jewish.

"There are 66308 surnames belonging to that nationality that we know of. "

http://www.americanlastnames.us/last-names/Jewish/index.html

http://mileswmathis.com/updates.html

In reply to by Scar Bro

shitshitshit Scar Bro Thu, 11/23/2017 - 07:55 Permalink

What Dimon is or is not does not really matter.It's the structure behind him.If he comes up to say this, it's because their models and assumptions are telling them this.But this doesn't necessarily mean they're right. Think about what they thought about the outcome of the previous election to begin with, and realize their models have not been so heavily modified to take into account the "populism" (which is nothing more than popular reaction to ruthless oppression).Therefore chances are they're wrong again. I'd bet on this easily.All of this because I know the economic/socionomics models used are totally divergent in case of hysteresis in initial conditions. These stupid models work very well as long as we are in a stable situation, which is far from being the case nowadays.Who would have guessed...  

In reply to by Scar Bro

Scar Bro shitshitshit Thu, 11/23/2017 - 08:33 Permalink

Hey, I'm glad you don't think it matters that half the rich people in this country are affiliated to a single religious minority.I'm glad you don't think it's an issue that our government supports, overwhelmingly, against our every interest, a single, artificially created nation which just by chance happens to be of the same religious minority that dominates our country financially.I'm glad you're not worried about white people in this country being literally beaten over the head on a daily basis by this religious minority, with the accusations of being responsible for evils of every 'ism'.Hey, I'm Harvey Weinstein, I rape women, and I'm jewish but I'm white.... so guess what? white male's faultHey, I'm Aaron Lopez and I own one of the biggest slave trading companies in the world and I pose as a catholic whilst, in secret I practice judaism, but I'm white..... so guess what? white male's faultI'm glad you're not worried about an Islamic invasion of our lands just so this religious minority nation can expand it's borders amid the chaos.I'm glad you're so so relaxed about all this. I wish my brain could be so chilled out.... docile even.

In reply to by shitshitshit

shitshitshit Scar Bro Thu, 11/23/2017 - 08:51 Permalink

please indulge yourself pal.if you think I don't think (((it))) because I don't mention (((it))), then you're misleading your poor soul.However I never take (((this))) as a decisive argument in any case, it's just the cherry on top, the icing on the cake.(((It))) only serves as a post verification confirmation, never as an initial argument, because we would miss out on the other crooks if we only discriminated according to (((this))) only parameter. 

In reply to by Scar Bro

Scar Bro shitshitshit Thu, 11/23/2017 - 09:01 Permalink

This single parameter seems to feature quite overwhelmingly in negative events in the world, past and present. One would think it's worthy of attention in isolation. One would think that the stigma associated with recognizing and drawing attention to the influence of this parameter itself is a problem worthy of being looked into. Moreover, to combine this parameter with a multitude of other possible parameters serves to understate it's influence and that itself seems deceptive. What do you think?

In reply to by shitshitshit

shitshitshit Scar Bro Thu, 11/23/2017 - 09:38 Permalink

If you fight too bitterly and mercilessly your enemy, you will end up like him, therefore having lost your humanity:https://www.haaretz.com/israel-news/.premium-1.560128The last thing you want is lose your life pestering and making yourself sick of things whereas your enemy would be defeated by the mere fact of you leading a happy life with real friends and family.

In reply to by Scar Bro

lil dirtball shitshitshit Thu, 11/23/2017 - 09:42 Permalink

> it's just the cherry on top, the icing on the cake

(((It))) is the cake. Everything else on top of it is superfluous. The (((cake))) is the entire underlying structure. Whom do you think cobbled this (((nation))) together? Whom do you think runs it - and everything in it? The global scale won't be mentioned in this post.

> the other crooks

The 'other' crooks are either invited or are allowed to exist for some enhancement or benefit to the (((cake))).

You got your stuff all backwards; it's by design.

In reply to by shitshitshit

Alessandro1987Rossi Scar Bro Thu, 11/23/2017 - 08:50 Permalink

WOW you are so pathetic!!   You probably some redneck man kid around 25-35 not married and no kids.(I’m not surprised) Everything that happen in this world you blame the Jewish people(for no reason in my opinion) I feel sorry for you, you suffer from severe brain wash and it’s seems like you just need a hug.   Instead of heating people that you don’t know in person. And the only thing that you actually know about the Jewish people are from Anti-Jewish propaganda, open your eyes, open you ears and open your mind and who knows you might be surprised to learn new things.   Before you go on the offensive and start to reply “Hasbara” or “Jewish lover” I’m not. Just a guy who opened his eyes to hear the flip side of the story. Try it.   BTW – all the things that you wrote about the Israeli wars are bullshit. It is not even close to the truth. Check your sources my friend.

In reply to by Scar Bro

Alessandro1987Rossi rent slave Fri, 11/24/2017 - 03:46 Permalink

Oh, this is new to me.. I didnt knew that the Jewish pepole are the one to blame in the Vegas Massacre.  However, to tell you the truth I’m not surprised at all that you think like that. as Humans we always need someone to blame and it is the easiest to blame someone else, Even easier if everybody already hates him.  I bet you don’t know why you hate the Jewish people, probably your father raise you like that and his father and his father father and so on and so on. Why? Just because this is the consensus. Haven’t you notice how all the Anti-Jewish comments start with “The Jews think they are the victims….” . no matter what happens on this planet it's because of the Jewish people, right? You know what? A real Lion does not give a shit what the street cats have to say….     I wish you all the best “Neshama”. 

In reply to by rent slave