One month after Goldman CEO Lloyd Blankfein trolled Donald Trump, when on June 9 in only his 4th ever tweet, the chief executive sarcastically said on Twitter “Just landed from China, trying to catch up…. How did “infrastructure week” go?” moments ago Jamie Dimon, in very uncertain terms, lashed out at the gridlock in Washington in general, and – according to some – president Donald Trump in particular (despite Dimon’s subsequent clarification that that was not the case).
During today’s earnings call discussing JPM’s Q2 beat, which however masked another sharp drop in the company’s trading revenue, Dimon – fresh from a work trip overseas, unloaded on everything that’s holding U. S. businesses back.
“It’s almost an embarrassment be an American citizen traveling around the world and listening to the stupid shit we have to deal with in this country and at one point we have to get our act together. We won’t do what were supposed to for the average American.”
He continued: “since the Great Recession, which is now 8 years old, we’ve been growing at 1.5 to 2 percent in spite of stupidity and political gridlock, because the American business sector is powerful and strong. What I’m saying is that it would be much stronger growth if there were more intelligent decisions and less gridlock.” Dimon’s outburst was prompted by a Wall Street analyst who asked if clients were beginning to worry about D. C. dysfunction and a lack of progress. Dimon countered by saying that the economy has grown despite years of bad policy, and that it would continue to grow regardless of the US political climate.
This post was published at Zero Hedge on Jul 14, 2017.
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