Guest Post by Martin Armstrong
JPMorgan Chase CEO Jamie Dimon believes Americans should be upset about their economic status, and does not understand why there is not more outrage. The billionaire in charge of the nation’s largest bank believes that electing Donald Trump in 2024 would be the worst financial decision for the working class. Why? Well, Trump has made it clear that he would aim to end the wars in Ukraine and Palestine.
Continue reading “Dimon: Working Class Should Support Neocons”
This clip for @_whitneywebb's investigative series about Jamie Dimon and the #Epstein network is worth watching. This week she appeared on @rustyrockets's show talking about #banks, ruling elites and corruption. Hope to have her back on my podcast soon…https://t.co/qI8Xik9JOH pic.twitter.com/5bGnO5Vemw
— Natalie Brunell ⚡️ (@natbrunell) May 11, 2023
Update (0835ET): After another massive bank failure – and taxpayer-funded bailout – JPMorgan CEO Jamie Dimon told listeners on an investor call this morning that “The system is very, very sound.”
Doesn’t seem like it Jamie, old chap?
But hey, whatever you say now as the CEO of a bank that holds over 10% of America’s deposits.
“We need large, successful banks in the largest economy,” Dimon continued, proclaiming that “this is nothing like ’08 or ’09.”
Well he is right, in so much as this is far larger… and we really don’t know where the CRE holes on bank balance sheets are (even as Charlie Munger warns they are everywhere).
The good news, Dimon declares regarding bank failures, “this is getting near the end of it.” Thought how he would know that is hard to comprehend?
Finally, the too-biggest-to-fail bank CEO warned, “we are clearly gong to see some reduction in bank lending,” implying JPMorgan will be doing “God’s work” for The Fed by contracting credit without the need for rate-hikes.
Guest Post by Martin Armstrong
Democracy is under attack. JPMorgan Chase CEO Jamie Dimon , who has been bought by the World Economic Forum, believes the US government should seize private property to combat climate change. This is not an exaggeration. In his annual letter to shareholders, Dimon stated “governments, businesses and non-governmental organizations” may need to invoke “eminent domain” in order to get the “adequate investments fast enough for grid, solar, wind and pipeline initiatives.”
Continue reading “Dimon Suggests PROPERTY CONFISCATION to Combat Climate Change”
With the new Netflix documentary about the Madoff fraud out, I thought reposting my take on the Wall Street scumbags who perpetuated this fraud and the corrupt losers at the SEC who turned a blind eye, would be worthwhile. Written 5 years ago.
“Certainly one of the most important things I learned is that numbers can be deceiving. There is a logic to mathematics, but there is also the underlying human element that must be considered. Numbers can’t lie, but the people who create those numbers can and do. As so many people have learned, forgetting to include human nature in an equation can be devastating.” ― Harry Markopolos, No One Would Listen
The quote I used from Harry Markopolos’ No One Would Listen book about the Bernie Madoff ponzi scheme in my last article triggered a bittersweet recollection. For me, the experience captured the true nature of our warped financial markets, a culture glorifying wealthy arrogant criminal assholes, while ignoring or ridiculing honest, hard working, highly intelligent truth tellers.
Guest Post by Simon Black
Last week I wrote to you about billionaire hedge fund manager Ray Dalio’s most recent advice for people to diversify their investments OUT of the US dollar.
Dalio didn’t pull any punches when he laid out his analysis for America’s economic future.
He warned readers of the very real risk of stagflation (starting “late this year”) and tax increases that could be even “more shocking than expected”.
He also advised people to anticipate the possibility of capital controls and prohibitions against assets like gold and cyptocurrency.
Continue reading “JP Morgan CEO acknowledges “something has gone terribly wrong” in America”
“Excellence, he is known as the Mule. He is spoken of little, in a factual sense, but I have gathered the scraps and fragments of knowledge and winnowed out the most probable of them. He is apparently a man of neither birth nor standing. His father, unknown. His mother, dead in childbirth. His upbringing, that of a vagabond. His education, that of the tramp worlds, and the backwash alleys of space. He has no name other than that of the Mule, a name reportedly applied by himself to himself, and signifying, by popular explanation, his immense physical strength, and stubbornness of purpose.” ― Isaac Asimov, Foundation and Empire
“The fall of Empire, gentlemen, is a massive thing, however, and not easily fought. It is dictated by a rising bureaucracy, a receding initiative, a freezing of caste, a damming of curiosity—a hundred other factors. It has been going on, as I have said, for centuries, and it is too majestic and massive a movement to stop.” – Isaac Asimov, Foundation
In March 2017, a mere two months after the stunningly unexpected victory of Donald Trump over the Deep State hand picked representative of dark forces – Hillary Clinton, I wrote a three-part article based upon Isaac Asimov’s Foundation trilogy, attempting to connect Trump’s elevation as the Gray Champion of this Fourth Turning to the plot of Asimov’s masterpiece. The three articles: Foundation – Fall of the American Galactic Empire; Foundation and Empire: Is Donald Trump the Mule?; and Second Foundation: Empire Crumbling, landed with a dud, generating few views and not many comments.
In Part 1 of this article I pointed out how we have allowed ourselves to be cowed by authoritarian “experts” who have proven to be nothing but incompetent and wrong every step of the way, while the financiers have used the crisis once again to pillage the citizens as they did in 2008/2009.
The absurdity of shutting down this country based on academic death models that make economist and climatologist models look highly accurate in comparison, can be seen in the ludicrousness of the following chart. And realize we did this on purpose because of a virus that will kill .018% of the U.S. population. And most of those deaths will occur in several highly dense urban enclaves, with the rest of the country barely affected.
By shutting down the country the government has crushed virtually every business in the country and putting tens of millions out of work, with resulting crash in tax revenues at the Federal, State and Local level. At the same time, Trump and everyone in Congress have become Bernie Sanders socialists, except most of it is corporate socialism. The deficit was already on track to top $1.2 trillion, but with the $2.2 trillion stimulus package, and more to come, the deficit this year and next will approach $3 trillion.
“It has been more profitable for us to bind together in the wrong direction than to be alone in the right one. Those who have followed the assertive idiot rather than the introspective wise person have passed us some of their genes. This is apparent from a social pathology: psychopaths rally followers.” ― Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable
Continue reading “THE ROAD TO PERDITION IS PAVED WITH EVIL INTENTIONS – A FINAL RECKONING”
“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending” ― Nassim Nicholas Taleb, The Bed of Procrustes: Philosophical and Practical Aphorisms
“Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.” – Nassim Nicholas Taleb
As we continue our national lockdown suicide cult to hell, I find myself getting angrier and angrier at the pathetic leadership displayed by politicians, government bureaucrats, so called medical “experts”, and intellectual yet idiot academics displaying their ignorance of facts, reality, history, and humanity. My nature is to be skeptical of everything I read or am told.
I most certainly disregard everything communicated to me by politicians, world leaders, central bankers, corporate CEOs, CNBC talking heads, the mainstream corporate fake news media, and lately – self-proclaimed medical experts who have distinguished themselves by not seeing the danger coming, downplaying the danger, not being prepared for the danger, incompetently handling the danger and righteously proclaiming the nation had to be brought to a full stop because their terribly flawed models said so.
Continue reading “THE ROAD TO PERDITION IS PAVED WITH EVIL INTENTIONS”
$JPM has stopped making Small #Business #Loans outside of those #guaranteed by the #Government.
F.U.C.K. Y.O.U.
We bailed you out TWICE, giving you $Billions in profits on processing loans bought by #Fed.
How about you returning the favor & helping out #AMERICA when we need you pic.twitter.com/Wrat3dOt7i— Lance Roberts (@LanceRoberts) April 9, 2020
“Secrecy begets tyranny.” ― Robert A. Heinlein, Stranger in a Strange Land
“Thinking doesn’t pay. Just makes you discontented with what you see around you.” ― Robert A. Heinlein, Stranger in a Strange Land
When I read quotes by men like H.L. Mencken and Robert Heinlein, I realize I’m not really a stranger in a strange land, even though I feel that way most of the time. These cynical, critical thinking, libertarian minded gentlemen understood government tended towards corruption and tyranny, the populace tended towards ignorance and distraction, and reality eventually teaches a harsh lesson to fools, knaves and dumbasses.
Sometimes we think the current day worldly circumstances are new and original, when human nature, politicians, and governments never really change. When Mencken and Heinlein were writing and providing social commentary during the 30’s, 40’s and 50’s, they observed the same fallacies, foolishness, lack of self-responsibility, government malfeasance, and inability of the majority to think critically, that are rampant in society today.
