Trumpism has proven the Jamie Dimons of the world are nihilists at heart. They don't care about anything, not America, democracy, law, nor even capitalism. All their chest-puffing about the importance of free markets, liberty, and prosperity gone instantly in favor of an aging addled authoritarian.
I’m no expert, but I think you can make money just as easily by betting against the US economy as by betting on it.
A lot of it is laziness. To fight for what you think is right is to not be lazy. To surrender, to be supine and diffident & to make lame justifications to preserve one's imagined "influence" on a wannabe dictator is the definition of laziness.
You can kind of see the last 30 years of American politics as a string of: 1. "We should change the rules so that I can corrupt democracy to my own ends." 2. "Oops, I didn't mean other people should corrupt democracy to their own ends!"
My work has CNBC on all the time and whenever Jamie Dimon shows up on screen I never fail to say "he should be in jail" OUT. LOUD. IDGAF
Trumps crypto partner and torture prison warden Bukele just got installed forever, no more term limits, likely sham elections. He’s bff with MS13 gang members, of course only the rich ones. Criminals are running the world.
I'm on a research committee in a financial sector trade group. In January I said at a meeting that gov't data would be cooked within a couple of years, I got scoffed at and accused of being partisan. I wasn't pessimistic enough.
www.youtube.com/watch?v=r4oQ...
I.e., fuck the oligarchy
good thing all the data for banks provided to them by the government is perfectly reliable, certainly nothing can go wrong there
Jamie Dimon got to be COO of Chase as his personal prize (IMHO) for Chase merging with Bank One. Just saying. Dimon's not fit to spit shine David Rockefeller's shoes.
Jamie needs a 2nd yacht.
This is why I don't understand why everybody wants to lionize Eric Holder when if he did his job and prosecuted the people that created the Great Recession there would have never been a Donald Trump in office
He’s just flattering Trump because it’s a free and easy way to bribe this administration.
We should correctly credit Trump for bringing the private industry habit of “lying out your ass” and “cooking the books to appease investors” to federal government. We absolutely must lay the responsibility of the US government being run like a used car lot directly at his and his cabinet’s feet
Well tbf they did promise to run government like a business
They're not nihilists, they're doing exactly what is expected of the capital class as their capitalism dies.
Their class interest is not ideological. It is based upon self interest. They are gripping on to power with everything they have.
And there will be no coming back from it for them or their lineage.
It’s the Mountainhead Effect.
Ha ha ha --yes, that's exactly what's going on. They are all telling each other crazy shit and believing the crazy shit the rest of them tell each other. Reality cannot break through.
Lower higher marginal tax rate? Ah weird everything else is kinda excusable now.
It's easier for oligarchs to make money from graft and leveraged state power than by something so base as trading goods and services.
Cruelty and punishment is all they know
They said they favored free markets so it would hurt people They said they favored capitalism so it would hurt people Etc
He pretends to be neutral while still complaining about Hillary’s deplorable comment. Hillary was right.
The Republican Party has never been “pro-business,” not in my lifetime. They’re pro-business *owner,* and support incumbent power which includes large business interests. But they’ve never actual pro-business stuff like enforcing competitive markets, breaking up monopolies, etc
They are only pro-corporation executive. They won't consider things that would turbocharge small business creation, like a UBI. They don't even care about shareholders, except that the share price affects their own scorecard
It's incredible just how weak and pathetic many of the 'elite' have turned out to be, from law firms and universities to banks and media. They've turned their backs on everything they ever pretended to care about. Disgusting.
Elite "meritocracy": "Who benefits from discriminatory college admissions policies? White males There are more qualified college applications from women, who get higher grades and more than 70% of the valedictorians nationwide. Seeking to create some level of gender balance, many colleges accept
The adults in the room who long prided themselves on being hard-headed staunch “realists” are now daily shitting themselves, along with the proverbial bed, and all at the fantasy-based moment-to-moment demands of an increasingly senile evil guy
Trump is a tyrant. They want to be mini tyrants of their fiefdoms. Therefore they love Trump.
You know, as the ranking member of Health Education Labor and Pensions, @sanders.senate.gov could demand daily hearings into JP Morgan 's mismanagement of TIAA Cref . I guess that's not enough oligarchy.
youtu.be/EZYOu0w8pjI?...
Seems like none of these people believing in hell, justice, or balance kind of gave that away earlier.
The silence of corporate America has baffled me, too. I think it's delusional pragmatism, not nihilism. They tell themselves they're serving shareholders by staying out of the line of fire. They just can't see that there's no safe place to do business in a land run by the whims of a tyrant.
Or, they’re completely and totally in on it. We’re well past the point of over monopolization. We reached the American oligarchy phase not long after the Citizens United decision.
That one is easy All companies are now “risk averse” Every penny that isn’t earned must be explained Any company that isn’t 100 percent of the entire USA GDP has to go to the principal office to explain why they’re not NUMBER GO UP (infinity) Their goal is to end all production, profit 4ever
Doing nothing is the only way you can prove you didn’t mess up now Invest nothing, make nothing, challenge nothing, sell nothing Only profit profit profit
They also think that this will all blow over, and that they can ride it out.
We take so much for granted and we are so rarely grateful that it’s hard to imagine anything else.
Some of them might be right, unfortunately. I mean, look what happened after 2008.
You may be right. Most corporate leaders seem to have a strong continuation bias and reject the idea of discontinuous change. ("Mr. Buggy-Whip Maker, meet Mr. Ford.") Still, the market clearly didn't like Trump's antics with tariffs, the Fed & now the BLS. Wake-up call? At long last?
Or even better, that they are the guy who is smart enough to surf the wave to profit. CEOs all believe they got there because of how smart and savvy they are. That means they all think they are the one who will out-con Trump.
The awful thing is that, if we succeed in saving America, these cowards will take that as proof that they were right to choose cowardice.
Only if the appropriate post event regulatory changes don't happen. People need consequences. Real ones.
Lovin' themselves some deregulation and some massive redirection of public spending into the private sector. (For the latter, just see what they're doing with the rural broadband funding.)
Staying out of the line of fire often means whistling and looking at the ceiling when others step forward.
The reckoning is coming, and none of them have any idea. They're all going to be surprised face when Wall Street crumbles around them.
youtu.be/EZYOu0w8pjI?...
It’s one of the things I’ve found most concerning…
Because a lot of them are cowards with parent issues I assume. And Trump reminds them of their abusive fathers.
They’ve been promised oligarchy for their treason.
📌
They all want to be dictators themselves. They hate the idea that anyone else has any power at all.
it wasn’t the poor petitioning Smedley Butler to do the business plot
Aging addled PEDOPHILE authoritarian.
Yep. Plus, Dimon and other finance execs knew for years what Epstein was up to but kept him employed because he made them money.
Kalecki answered all this decades ago
The only true capitalists are social democrats. Every entrepreneur or ceo just wants monopoly power.
💯%