JP Morgan’s Dimon Admits “Fed Liquidity Is Propping Up Stocks”

JP Morgan CEO Jaime Dimon acknowledged that the stock market is rising only because the Fed is using taxpayer dollars to save large companies. He said, “The Fed’s liquidity, bringing out the bazooka, is propping up stock prices (as well as all other asset classes).” That may sound like a good idea, but these bailouts are rewarding bad behavior by banks and their favored businesses, and it is creating massive debt that will destroy the nation.

JPMorgan CEO Jamie Dimon told the Deutsche Bank Global Financial Services Conference attendees (virtually) that he sees a “good chance” of a fairly rapid economic recovery and is hoping things pick up in 3Q after what will be weak GDP this quarter.

“I give it some pretty good odds,” Dimon said. “The government has been very responsive, the Federal Reserve has been very responsive. Large companies have a huge wherewithal, hopefully we’ll keep the small ones alive long enough that most of them get back into business.”

While the all-seeing CEO warned that JPMorgan is “prepared for a scenario where recovery is slower,” Dimon implicitly pointed out that for now there’s nothing to fear but fear itself because “The Fed’s liquidity, bringing out the bazooka, is propping up stock prices (as well as all other asset classes).”

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US Billionaires Increase Net Worth by $434B During Coronavirus Lockdowns

While more than 36-million Americans are jobless following shutdowns allegedly to slow the spread of the coronavirus, the nation’s 600 billionaires increased their wealth by 15% from $2.9-trillion in March to now nearly $3.4-trillion. Five billionaires, including Amazon CEO Jeff Bezos, Microsoft Co-Founder Bill Gates, Facebook CEO Mark Zuckerberg, Berkshire Hathaway CEO Warren Buffet, and Oracle CEO Larry Ellison, have increased their wealth by $75.5-billion since the nation’s coronavirus lockdowns began in March. While Bill Gates was spreading panic over the coronavirus and pushing for a 3-month lockdown, the Bill and Melinda Gates Foundation was buying up tech stock, such as Apple, Amazon, Google-parent Alphabet, and Twitter, all of which did a booming business during the lockdown. -GEG

The net worth of the United States’ billionaire class has increased by $434 billion during lockdown orders implemented by most states to slow the spread of the Chinese coronavirus.

Between March 18 and May 19, the nation’s more than 600 billionaires have increased their net wealth by 15 percent from $2.9 trillion in March to now nearly $3.4 trillion, even as more than 36 million Americans are jobless.

The analysis of Forbes data, conducted by researchers with the left-leaning Americans for Tax Fairness group, detailed how the wealth of Amazon CEO Jeff Bezos, Microsoft Co-Founder Bill Gates, Facebook CEO Mark Zuckerberg, Berkshire Hathaway CEO Warren Buffet, and Oracle CEO Larry Ellison has increased by $75.5 billion since the nation’s coronavirus lockdowns began in March.

These five billionaires’ growth in net wealth, alone, accounted for 21 percent of all the wealth growth over the last two months among the more than 600 billionaires in the U.S.

(Americans for Tax Fairness)

(Americans for Tax Fairness)

Jeff Bezos, alone, has increased his net wealth by almost $35 billion, or 30.6 percent, since the beginning of the coronavirus lockdowns that forced small and medium-sized businesses to close while big businesses like Wal-Mart, Target, Amazon and Amazon-owned Whole Foods, and Walgreens were allowed to remain open as they were deemed “essential.”

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Additional source:

Gates Foundation Buys Stock in Google, Twitter, Apple and Amazon in First Quarter Before Pushing Pandemic Panic Porn




Trump Accuses Twitter of Falsely ‘Fact-Checking’ Him on Voter Fraud

Twitter “fact-checked” President Trump when he criticized universal mail-in voting that can be easily corrupted. The Fact Check said Trump’s statement was not true. In two Tweets, the President warned: “There is NO WAY (ZERO!) that Mail-In Ballots will be anything less than substantially fraudulent. Mail boxes will be robbed, ballots will be forged & even illegally printed out & fraudulently signed. The Governor of California is sending Ballots to millions of people, anyone…. living in the state, no matter who they are or how they got there, will get one. That will be followed up with professionals telling all of these people, many of whom have never even thought of voting before, how, and for whom, to vote. This will be a Rigged Election. No way!” Twitter responded by saying this statement was not true.

President Trump on Tuesday evening accused Twitter of “stifling FREE SPEECH” and interfering in the 2020 election by fact-checking one of his tweets on the issue of voting by mail.

“@Twitter is now interfering in the 2020 Presidential Election. They are saying my statement on Mail-In Ballots, which will lead to massive corruption and fraud, is incorrect, based on fact-checking by Fake News CNN and the Amazon Washington Post,” the president tweeted Tuesday evening. “Twitter is completely stifling FREE SPEECH, and I, as President, will not allow it to happen!”

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600 Doctors Call on Trump to End Shutdown that Causes Dangerous Health Effects

More than 600 doctors signed a letter to President Trump calling for him to end lockdowns across the US that are crushing the nation’s economy. The doctors say the loss of livelihoods are causing poverty, loss of homes, despair, alcoholism, drug abuse, and suicides. It is the view of these doctors that these effects are more deadly than the virus. -GEG

More than 600 doctors signed onto a letter sent to President Trump Tuesday pushing him to end the “national shutdown” aimed at slowing the spread of the coronavirus, calling the widespread state orders keeping businesses closed and kids home from school a “mass casualty incident” with “exponentially growing health consequences.”

The letter outlines a variety of consequences that the doctors have observed resulting from the coronavirus shutdowns, including patients missing routine checkups that could detect things like heart problems or cancer, increases in substance and alcohol abuse, and increases in financial instability that could lead to “[p]overty and financial uncertainty,” which “is closely linked to poor health.”

“We are alarmed at what appears to be the lack of consideration for the future health of our patients,” the doctors say in their letter. “The downstream health effects … are being massively under-estimated and under-reported. This is an order of magnitude error.”

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