(Reuters) - JPMorgan Chase Chief Executive Jamie Dimon is upbeat on the prospects for the world's largest economy, telling investors on Thursday that pessimism is overdone and the economy is actually "getting stronger."
"The underlying dynamics are pretty good, pretty broad-based and getting stronger, not weaker," Dimon said.
U.S. companies have the most cash in decades and are making "good profits," said Dimon, who heads the second-biggest U.S. bank by assets.
"The consumer is far stronger than two or three years ago," added Dimon, who was speaking at a Sanford C.Bernstein investor conference.
That's pretty funny. I mean, duh! What else would you expect the bottom line of corporations to look like when they out source to China and pay twelve cents on the dollar? Too bad 'jobs' are so scarce in the USA.
ReplyDeleteEven my better half has been told to document all she does and how she does it. This has been going on for almost a year now. She even has to train the help in India who is slowly replacing workers here in the US! She works for a company Beanie calls all American and even trades!
Be careful how much you believe and how you interpret articles like the one about the JP Morgan executive above. All may not be as it seems!
And calling JP Morgan a bank is also pretty funny (so now they can borrow money at virtually 0% and invest to make a bigger return). Do you remember how that came about . . .
45mm are on foodstamps, the gap between rich and poor is at record highs, stock correlations are at record highs...we may get a correction, but America will stand tall once again. Sometimes you just need to clean the closet every no and again.
ReplyDelete"The South will rise again". They've been saying that for generations!
ReplyDeleteWhat's he smoking?
ReplyDeleteBeanie your thoughts on next week. You don't make any bold calls anymore
ReplyDelete