JP Morgan CEO Jamie Dimon has been widely criticised for suggesting that average Americans are doing well financially despite rising inflation and stagnant interest rates putting a strain on household budgets.
Dimon sparked outrage with comments on The Wall Street Journal podcast, "The Journal." Dimon, whose net worth is estimated at 1.67 billion ($2.1 billion) by Forbes, stated that consumers "still have excess money from COVID."
Downplaying concerns about the economic impact on everyday Americans, Dimon told interviewer Emma Tucker, "The consumer's in pretty good shape right now." However, last month, Dimon himself predicted inflation would stay high, potentially harming the US economy in the near term.
"The consumer has, you know, unemployment under 4 percent has been there for two years. They still have excess money from COVID ," Dimon told the podcast. He further noted that the US spent a whopping 4.78 trillion ($6 trillion) during the unprecedented pandemic.
"Through various means and various programs, they're still spending it down," he noted. Dimon went on to claim that "housing prices are up, stock prices are up, and jobs are plentiful." Unsurprisingly, he has been catching flak for those comments.
Yep, that 1200$ stimmy was good stuff, but was literally it. in a time when most people were having issues with that MONTHLY.Even crazier that Biden hasn't done anything to address affordable housing. Obama spear headed HARP loans, which not only helped people that were underwater, but created the jobs that got me a foot hold into the industry. Did he learn nothing from his predecessor?
fucking crazy how we haven't gotten anything else from Biden admin.
Even crazier that Biden hasn't done anything to address affordable housing. Obama spear headed HARP loans, which not only helped people that were underwater, but created the jobs that got me a foot hold into the industry. Did he learn nothing from his predecessor?
If there's anybody I go to to get a barometer of the average everyday person, it's the CEO of one of the three major banks in the United States.He's definitely one of the worst. I've worked for most of the major financial institutions. Wells Fargo is the best, Chase is unquestionably the worst.
Dimon used to be the only reasonable Wall Street CEO but since COVID he's turned hard right.Uhhh no. He's been a scum bag since way before COVID. If you worked for him and understood the culture he perpetuates for his employees you would know this is all par for the course. He also insists that this work from home thing needs to end.
If there's anybody I go to to get a barometer of the average everyday person, it's the CEO of one of the three major banks in the United States.Honestly, it's actually more terrifying that a CEO of a bank wouldn't understand that. An investment one at that.
If there's anybody I go to to get a barometer of the average everyday person, it's the CEO of one of the three major banks in the United States.
isn't the implication that we all have extra money from not going on vacation for 2 years
Covid was 5 years ago4
4
Quatatines begain about March 2020lmfao
2021
2022
2023
2024
count the lines
1
2
3
4
5
I take you are not a programmer?
42. It only really "ended" in the "we don't care but people are still dying" way about two ish years ago.
lmfao
isn't the implication that we all have extra money from not going on vacation for 2 yearsThat would still be nonsense, because some people couldn't work during COVID because they were laid off.
like it's a dumb thing to say but no one thinks we're still stretching a stimulus.
also it's interesting how when we want to make biden look good the economy is booming but when we want to make billionaires look bad we're all struggling
anyway fuck billionaire ceos
why are you laughing?you are not this dumb
2020 is a year that happened
then you have
2021
2022
2023
2024
have you realized it yet or you still gonna laugh?
That is 5 years
why are you laughing?20 - 21
2020 is a year that happened
then you have
2021
2022
2023
2024
have you realized it yet or you still gonna laugh?
That is 5 years
If you are being pedantic perhaps, but we are halfway through 2024Which would mean that it's not 5 years. And we are not halfway through 2024. We are almost halfway.
Which would mean that it's not 5 years. And we are not halfway through 2024. We are almost halfway.
There's nothing pedantic about respecting the actual time clock.
4.5 would be rounded unless you were trying to be exact by the rules of mathWhy would we be rounding? You generally don't round unless you have to for a specific reason.
Quatatines begain about March 2020
2021
2022
2023
2024
count the lines
1
2
3
4
5
I take you are not a programmer?
This shit about the years is the CE-est damn argument I've ever seenProbably. I'm just genuinely confused that it even happened. Especially from the op that basically torpedoed their own topic with such a weird spin-off discussion.
Imbecile silver spoon CEO tries to squint real hard and pretend to imagine what it's like not having a house staff, film at 11.
Someone take him to a restaurant for the sticker shock.Honestly I think that CEO 's should try living off of minimum wage half of a year as a challenge to see how long they last. No savings, no loans, nothing.
Honestly I think that CEO 's should try living off of minimum wage half of a year as a challenge to see how long they last. No savings, no loans, nothing.You're giving Dimon entirely too much credit. Even in this bizarre universe where someone has the authority to make rich people do things they don't want to, it would just make them contemptuous, not empathetic.
Why would we be rounding? You generally don't sound unless you have to for a specific reason.
Entering the Fifth Year of the Coronavirus, Where Does Long COVID Stand?
Much has changed since the World Health Organization first called COVID-19 a pandemic four years ago today. As the U.S. enters its fifth year with the coronavirus, vaccines are available and have been updated to more closely match the spreading variants.
That is how humans do it.
See this article
https://www.usnews.com/news/health-news/articles/2024-03-11/four-years-after-coronavirus-was-declared-a-pandemic-where-does-long-covid-stand
or for instance FF7 anniversary of 25 years was in 2022
https://finalfantasy.fandom.com/wiki/Final_Fantasy_VII_25th_Anniversary
But 2022 was pedantically NOT the 25th but the 24th
It came out in October 2 , 1997 internationally and September 1997 in Japan
But if you rounded, then yes 2022 was the 25th year
Why round? Because it is easier to count the years: 0 1 2 3 4 5
That is 5 numbers
Than to count the exact days and divide by 365 where we find we are months beyond 4 years making it 5 years since because we went over.
Guys, the excess money refers to people spending less on consumer stuff during Covid, not the stimmies