Posted on 08/10/2011 10:40:30 AM PDT by SeekAndFind
JP Morgan Chase CEO, Jamie Dimon just gave a very optimistic speech on CNBC.
He refuted rumors that the S&P downgrade will make it harder for banks like JPMorgan to make money on CNBC right now.
"The S&P downgrade is just an opinion," he says. The market leaders he knows don't use the S&P to make their decisions, he says.
He also added, "The U.S. needs to show fiscal discipline."
But he says, "I'm hopeful that we'll" start to do that soon.
Then he brought out the good ol' American spirit.
"I think we need America to do what America used to do when times got tough... They rolled up their sleeves... They didn't scapegoat. We need coherent, consistent policy... A lot of our policy is completely incoherent and inconsistent, made in the middle of the night."
The real feel-good moment of his speech: THIS WILL PASS... AND AMERICA'S ECONOMY WILL BLOW YOUR SOCKS OFF.
Whether it's in a year, 6 months, nine months, he doesn't know, but he says: I'm very optimistic.
(Excerpt) Read more at businessinsider.com ...
Its nice to chest pound but I have to say this is not the 1930's and I have not seen much of this in my lifetime.
I wouldn’t trust a damn word this clown says. He belongs behind bars.
Jamie Dimon belongs behind bars.
Heh. No sale.
Imagine the administration changed over to one that is investor/producer friendly, with less taxation and regulation, that’s allowed to keep most of their profits. Then imagine that same administration enforcing the law equally on everyone, putting the Constitution before personalities.
This, after what we’ve been through so far? I can foresee a situation where the economy could actually over heat, and might even have to be restrained somehow.
Marx saw this coming during the Industrial Revolution. He knew that some people would jump on and thrive with it, but that others wouldn’t, and then would envy and hate those who did, creating social problems. his utopia consists of equalizing and redistributing poverty.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.