Jamie Dimon just said this…and our reaction!

Jaime Dimon:

“Since the Great Recession which is now eight years old we’ve been growing at 1.5 to 2% despite the stupidity and political gridlock. Because the American business sector is powerful and strong and is going to grow regardless of they went to feed their kids and want to buy home they want to do things the same as American businesses what I’m saying is it would be much stronger growth had we made intelligent decisions and that gridlock, and thank you for pointing it out because I’m going to be a broken record until this gets done, we are unable to build bridges, unable to build airports, not graduating.

I was just in France, in Argentina, Israel, Ireland we met with the Prime Minister of India and China it’s amazing to me that every single one of those countries understands that practical policies to promote business growth is good for the average citizens of those countries for jobs and wages and somehow this great American free enterprise system we no longer get it.

My view is corporate taxation is critical to that by the way regarding capital brings overseas, which is why the $2 trillion overseas benefiting all these other countries don’t like that, so if we don’t get our act together we can still grow. It’s just unfortunate but it’s hurting us, it’s hurting the body politic, it’s hurting the average American that we don’t have these right policies. So no in spite of gridlock we will grow at 1 ½ or 2%.

I don’t buy the argument that we’re relegated to this forever. We are not this administration can make breakthroughs in taxes and infrastructure ready for reform we have become one of the most bureaucratic, confusing, litigious societies on the planet.

It’s almost an embarrassment being an American citizen traveling around the world and listening to the stupid s— we have to deal with in this country, and at one point we all have to get our act together or we won’t do what we’re supposed to [do] for the average Americans and unfortunately people write about this saying like it’s for corporations. It’s not for corporations. Competitive taxes are important for business and business growth, which is important for jobs and wage growth. And honestly we should be ringing that alarm bell, every single one of you, every time we talk to a client.”

Our reaction:

Jaime…nice to hear from you. You’re worried about infrastructure? Funny…didn’t hear you say a word about President  Obama’s $800 billion stimulus that was supposed to go to “shovel ready” infrastructure projects. We know what got shoveled.

How about the past 8 years where approximately $9 trillion of new debt was foisted about an unwary American taxpayer? Didn’t hear much on that? Of course the media never reports on any of this done under President Obama. Where are you Jaime?

Funny…never heard you complain about a central bank that ripped the saver off by keeping rates at 0% for the 8 years. Oh…that’s right, you were the beneficiary of such a move.

$500 MILLION- $1 TRILLION deficits each year…ahem!

Federal spending over $4.1 trillion this year being sucked out of the economy. Haven’t heard a word. By the way, this is up from $1.7 trillion the last year of the Clinton presidency.

We can go on but we are just being repetitive. You want to know why we cannot grow faster. Look no further than all this evidence.  We have been talking about this and other nonsense for years. Haven’t and didn’t hear too much from you under the last President. Thanks for joining in the worrying of what 435+100+past White Houses+lobbyists+central banks have been doing to this country. But don’t worry, the market is up.