America’s largest and most prestigious bank is out with two wholly different types of statements today — one pandering to lunatics who want to upend the US economy by forgiving $1.6 trillion in student debt — the other is from some analyst who calls into question the quality of the present bull market. In both cases, both people are retarded.
Market commentary by some moron.
Cyclical stocks typically tied to economic growth have failed to regain the ground lost in May.
Only defensive groups like consumer staples and utilities have confirmed the S&P 500?s new highs, J.P. Morgan’s chart analyst Jason Hunter points out.
“Rally leadership doesn’t inspire a lot of confidence yet … In our view, that cross-market divergence can only persist for a short period of time, and the S&P 500 Index rally potential is limited under the current conditions,” Hunter says.
CEO of JPM, Jamie Dimon, pandering like a motherfucker by saying ‘what we’ve done’ via loaning money to people to attain higher degrees of education and better jobs, is a disgrace. What!?
JP Morgan chief Jamie Dimon says we need to “fix the broken parts” of student lending in the United States.
“What we’ve done is a disgrace and it’s hurting America,” Dimon tells Yahoo Finance.
With $1.6 trillion outstanding student debt in the United States, student lending is crippling many Americans. Today the average college student graduates $30,000 in the debt, up from $10,000 in the 1990s.
Pray tell me, in this competitive world, what is the alternative? Should we have the poor and middled class work at Amazon slave factories and only the rich kids get the good jobs? Or, are we going to give free education to all American students? Not that we really care about balancing budgets and funding liabilities anymore — but how in the fuck would that be possible? I know other countries do it — but we’re up to our eyeballs in debt and it’s only getting worse.
Alas, it is a waste of my breath.
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Showtime’s basket of Basic pm
Not saying I just bought, but a fine couple weeks
AUY, PZG, GOLD, WPM, SLV, SIVR
Jamie Dimon is a dick. That is all.
The federal govt doesn’t need to balance budgets, pal.
The student loan defaulters would be on welfare otherwise. Either way, you’re going to pay their way.
Instead of fucking up trade, banging on about walls, or trying to get into another Middle East war, dumbass needs to work on the deficit. It is absurdly high and it matters.
Start the jawboning. Get people thinking. Set the mood for change. Sell the need to fix it.
It WILL take more taxes, lower spending, pushing costs onto lower levels of government, a reduced military and much more.
Nothing will happen unless the people demand it, and they will if they are told the truth.
Too late for that. Do the math.
You come up with a sound plan that would accomplish what you are pushing for and I’ll buy it.
I’ll be over here waiting but not holding my breath.
PS…deal in reality only. Do not give me some retarded assumptions that are impossible to attain in order to make your plan work.
Last night, ten politicians who have studied the issue more than you or me, showed us what they have found sells to “the people”, Hint, it ain’t sacrifice and hard work. Trump’s figured out the same thing. It’s just that Trump wants to give to the rich while appearing to help rednecks, while the Dems want to placate their rich supporters, while appearing to help black transgender victims of assault weapons.
Jamie problem is that we are lending money to many idiots in this country with the empty promise that graduation from college equals to >100k USD job. The reality is that natural IQ of the population is on a Bell Curve, and those in the top quartile are going to be banking coins regardless of the education level. It used to be that top quartile IQ of the nation goes to college and make bank, not bc of a college education but due to the grit and intelligence of that individual. Then, the survey idiots equate college education = a top earning job, forcing politicians and political institutions to give easy money to the bottom quartile IQ of the population to take $100-200K in student loan and not have a job. There’s a misallocation of resources, and these people would have been better off going to trait school instead.
Lastly, true gems with top IQ from the middle and lower class get full rides to top universities and colleges. Financial aid at these institutions is now needed based rather than merit based. So, your point of not having a pathway for smart people from the middle and lower classes are invalid.
Yup and Yup. Except that financial aid is also based on race ..with colleges competing with cash in order to satisfy the diversity police.
Dimon 2020!
Wall Street junior investment bankers do not need their student debts eliminated. And we need to address the bloated cost of college (hint: look at the admin expense line.) But a means tested debt reduction would be a massive stimulus to the housing market and consumer spending. Who the fuck cares about balancing the budget? Who are you, David Stockman?
Before we get our panties in a bunch, the Trump tax cut was 50% bigger at 2.4 trillion. It went largely to those who didn’t need it, and the dollars will find their way into equities, collectibles, and Swiss bank accounts and not into the real economy.
Stop acting like a wanker.
All this pressure to give out more ‘FREE STUFF’ – the mantra of the Socialist-Islamist-Democrat party…. Yet NO ONE ever asks the basic question of course;
How about these Universities, run by the far left for ‘our’ good (since they know so much better than the rest of us) lower the OUTRAGEOUS costs of their schools?!?
The increases in salaries for ‘professors’ who can’t find their own assholes and campuses built for parties and recreation rather than any sort of actual learning have become playground for the super rich. With their bloated administrative budgets, their increases in all costs (including tuition) that FAR outpace inflation, these hypocrites bitch & moan, lips trembling in their libraries as they teach how evil the great nation who enabled their academic playground is. They have increased costs in higher education to the point it has created huge debt. After all that, they then have the hypocrisy to complain how we all need MOAR ‘free stuff’ and socialism as they climb into their SUV’s on the way to their sabbatical vacations in Europe.
I believe they created the 1.6 trillion in outstanding debt for kids that had no collateral, no government guarantee or regulatory policy, and no authority by US parents to guide, advise, or co-sign on these legal contracts. As long as they were 18 had decent grade point averages, they were all set.
Good luck with that one.