Jamie Dimon Honing His Stump Speech?
It’s more clear every day that Trump will wipe the floor with all the GOP midgets that were supposed to prevent him from once again gaining the GOP nomination.
Plan A was to take Trump out via lawfare. That’s looking a bit dicey these days, and it certainly hasn’t hurt Trump in the polls—rather, the reverse.
Plan B was the attack of the killer midgets. Laughable. Chris Christie, Nikki Haley, Mike Pence? DeSantis needs to stay in Florida. Keep up the good work there. The bigger problem, of course, is that every single one of these midget candidates is owned by the Ruling Class.
So what’s Plan C—since we know the Ruling Class will never be reconciled to a second Trump presidency? Could it be that Jamie Dimon will be called upon to save the Ruling Class? He was recently in China, and I’ll bet that he received a more respectful reception than has been granted to creatures of the Zhou regime.
I don’t follow Dimon, so maybe he gives this kind of pep talk at all his appearances, but to me it sure sounded like a stump speech, or a closing speech at a political debate. And his name has come up regularly as a possible non-Trump GOP candidate. Read the transcript and see what you think. It’s music to American ears and, of course, it’s the sort of pablum that keeps Americans from taking a hard look at how the Ruling Class has been running this country. “It’s the typical … I’m bullish on America! Sure we got some problems but, hey, I’m bullish on America! We’re the greatest country on earth, and I’m bullish on America! Don’t listen to the naysayers. We can all unite around that—We’re all bullish on America, because it’s the greatest country on the planet!”
Would that be more appealing than MAGA, with its implication that we’re not so great, or headed in a not so great direction, that there’s a Swamp that needs draining if we want to MAGA? Maybe that’s what our rulers are betting on. Read the transcript and see what you think, because you know there’s a Plan C:
Final Arbiter
@FinalArbiterr
Extraordinary ;)
[Video]
America has the best hand ever dealt to any country on this planet today. Ever!
Americans don't fully appreciate what I'm about to say.
We have peaceful, wonderful neighbors in Canada and Mexico. We have the biggest military barriers ever built--[they're] called the Atlantic and Pacific. We have all the food, water, and energy we will ever need.
We have the best military on the planet, and we will--for as long as we have the best economy. And if you're a liberal, listen closely on that one, OK, because the Chinese would luv to have our economy.
We have the best universities on the planet. There are other great ones elsewhere, but these are the best. We still educate most of the kids who start businesses around the world.
We have a rule of law which is exceptional. If you don't believe me--and we talk about Britain, Brazil, Russia, Venezuala, Argentina, China, India--believe me, it's not quite there.
And if you still don’t believe Dimon, read KBJ’s opinions. Extraordinary!
We have a magnificent work ethic, we have innovation from the core of our bones. You can ask anyone in this room what we can do to be more productive, ask your assistants, factory floors will do it, it's not just Steve Jobs [?]. We have the widest and deepest financial markets the world has ever seen, OK?
I just made a list of these things, maybe I missed something. It's extraordinary! It's extraordinary! And we have it today!
Yes, we have problems [?]. But I have people, you get on an airplane and travel around the world and go to all those other countries and tell me what you think.
Note that there’s a hint in there that the speech could be easily tailored to blame Dem mismanagement of the economy if certain untoward events come to pass. Like:
Will Schryver
@imetatronink
I refinanced my mortgage a couple years ago at 2.75%. My mortgage provider has been desperately trying to persuade me for many months to refinance again.
As I have watched the UST10Y yield rise above 4% in recent days, I realize the entire US banking system is now insolvent.
9:22 PM · Jul 6, 2023
Borrow short / lend long worked really great for them for a long time ...
I'm sure virtually all mortgages are bundled together to serve as collateral for countless downstream derivative instruments. The whole thing is an overleveraged supernova-in-the-making.
Now imagine you borrowed $10 billion at 1% for 3 years, at high leverage, and used it to buy overpriced commercial real estate, and now you need to roll over the entire principal balance at 6%, and your equity is down 25%+.
This is why we're about to see many more bank failures.
No doubt Dimon as a candidate would run on a platform of “America needs competence to get back to work and get past divisive culture wars.” He presents well. I think he’d be bad for America going forward. America is more than a wide and deep financial market—which may not be quite as wide and deep after the commercial R/E bust.
But Trump may need to hone his message to deal with Dimon.
An excerpt from James Howard Kunstler's blog post today:
"American Finance now is in the business of receiving free money (loans at minimal interest) from government-chartered central banks (issuing “credit” from nowhere), that banks, hedge funds, private equity outfits, and sundry freebooters can roll into instruments such as interest-yielding bonds (loans back to government) and derivatives (algorithmic bets derived, abstracted from, and tuned to market movements) magically multiplying money that finally produces nothing of value — though it may translate into yacht purchases, alimony payments, luxury suites at ballparks, private Caribbean islands, and traffic in humans for use as sex toys."
Although Dimon isn't mentioned, it is a discrediting of America's financial markets which produce nothing but more greed.
In the world according to Tom Luongo, Dimon leads a big chunk of the American banking colossus that is NOT OK with Davos and with Powell is OK with raising rates not to crush inflation but to defund the eurodollar market which funds all the Euro Davos nonsense. I’ll cheer him on for that reason. But he’s not a politician and don’t seem him moving the needle if he tries to go in that direction.