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

Wiki
image_pdfimage_print
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).”

Read full article here…

Visit our Classified ads.

Check out our Classified ads at the bottom of this page.

Recent stories & commentary

Health

Jon Rappoport Investigates the Cult of COVID

July 10, 2020 Jon Rappoport 1

No one has done a proper study for a novel, never-seen-before virus, and it will never be attempted because it would destroy the theory that one virus is causing a pandemic. A few people at the top know the truth, but the cult operates on blind faith.

GEG Commentary

Dr. Scott Jensen Accused by the State of Spreading Misinformation

July 8, 2020 Dr. Scott Jensen 2

The State’s Medical Practice Board accused Dr. Jensen of ‘providing reckless advice’ on a news program by comparing COVID-19 to the ordinary flu. [Dr. Jensen is correct, of course, and If this goes to court, there is a good chance he will prove his case. Our guess, therefore, is that it will never go to court.]

Freedom

NY County Issues Subpoenas and $2,000 Fines for Ignoring Contact Tracers

July 6, 2020 Breitbart 1

Rockland County officials issued subpoenas to eight people allegedly infected by the coronavirus to compel them to speak with contact tracers about contracting the COVID-19 disease at a party last month. Patricia Rupert, the county’s health commissioner, said, “Failure to comply will be costly: $2,000 per day.”

Freedom

California Bans Singing in Church

July 6, 2020 Breitbart 3

Places of worship must therefore discontinue singing and chanting activities and limit indoor attendance to 25% of building capacity or a maximum of 100 attendees, whichever is lower. A choir practice without masks was blamed for an acute outbreak of coronavirus in Washington State in March.

Classifieds

For classified advertising rates and terms, click here. The appearance of ads on this site does not signify endorsement by the publisher. We do not attempt to verify the accuracy of statements made therein or vouch for the integrity of advertisers. However, we will investigate complaints from readers and remove any message we find to be misleading or that promotes anything fraudulent, illegal, or unethical.

Subscribe
Notify of
guest
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Horizon
Horizon
1 month ago

Can you please give use an analysis of what to do with our stocks? A poor populace bodes ill for this country. I’m unsure what to do.