Jamie Dimon Confirms That Which the MSM Refuses To Accept

[AuH20]

It can never happen here!!!!!!!! We're the the MOST POWERFUL COUNTRY IN THE WORLD!!!

http://www.zerohedge.com/news/2013-10-16/jamie-dimon-us-debt-endgame


Q. How worried are you that one morning the bond market has moved against the United States?

A. It’s virtually assured, the question is when and how. I don't know if it will be two years of five years but it will happen. It is a matter of time, the United States can’t borrow indefinitely. Over hundred years bankruptcies of country after country who thought they could get away with it because they had the reserve currency and the military power of the world. We are going to have fiscal discipline. It’s imposed upon us or we do the right thing and do it to ourselves the right way.... America knows the way, it doesn't have the will.

That goddamn teabagger Dimon needs to be locked up for dare questioning our credit worthiness!!!

[Madison320]

It can never happen here!!!!!!!! We're the the MOST POWERFUL COUNTRY IN THE WORLD!!!

http://www.zerohedge.com/news/2013-10-16/jamie-dimon-us-debt-endgame


That goddamn teabagger Dimon needs to be locked up for dare questioning our credit worthiness!!!

I think one of the biggest mistakes that "economists" make is drawing conclusions from a sample size of one. They only look at the US while ignoring thousands of years of economic history. This is their logic, "The US dollar has never collapsed, therefore it never will". It's like looking at one cigarette smoker and concluding that smoking is good for you because that one guy seems healthy.

[ZENemy]

I think one of the biggest mistakes that "economists" make is drawing conclusions from a sample size of one. They only look at the US while ignoring thousands of years of economic history. This is their logic, "The US dollar has never collapsed, therefore it never will". It's like looking at one cigarette smoker and concluding that smoking is good for you because that one guy seems healthy.

Indeed, circular logic at its best.

[ctiger2]

Anarchist Alert!

[Lucille]

Yes, it's ironic to defer to Jamie Dimon, who lately has far more pressing concerns in justifying the non-criminal nature of his enterprise, on anything - especially which does not involve market manipulation - but for once, Jamie actually had it right when it comes to framing the parody of governance in the US and the real debt problem.
[...]
Of course it doesn't have the will because the Fed takes away any impetus to act when the "monetary" branch of government will merely push the S&P that much higher and everyone will forget just how broken the economy truly is. And speaking of monetizing, there will no "turn" before the Fed stops monetizing all of it (ref: see what happened when the Fed merely mentioned tapering), and in the process boosting JPM's excess deposits over loans also known as prop-trading "dry powder" to record all time highs.

End the godforsaken Fed!

[Acala]

Indeed, circular logic at its best.

It is obvious that you hate America. What I want to know is why? Is it our freedom?

[Seraphim]

Trojan horse.

What Dimon is really telling you is that the upper/ubber class have finished their looting of the nation and no longer give a shit about the gravy train. They've got theirs. Now the country can enter it's bankruptcy death spiral.


It can never happen here!!!!!!!! We're the the MOST POWERFUL COUNTRY IN THE WORLD!!!

http://www.zerohedge.com/news/2013-10-16/jamie-dimon-us-debt-endgame


That goddamn teabagger Dimon needs to be locked up for dare questioning our credit worthiness!!!

[TonySutton]

Bombs never explode, until they do...

[Acala]

Trojan horse.

What Dimon is really telling you is that the upper/ubber class have finished their looting of the nation and no longer give a shit about the gravy train. They've got theirs. Now the country can enter it's bankruptcy death spiral.

I think you are missing the genius of this. It's ike a financial perpetual motion machine! We keep borrowing money until we owe so much that we can't pay the interest with revenue and then we borrow the money we need to pay the interest! We can just keep going that way forever!!! I feel so happy, so free! It's the Sampo!!! We must protect it!

[jllundqu]

Bump.

Someone send this to Krugman fercrissakes.

[jllundqu]

This is actually a stunning admission from one of the king vipers himpself. Is this a prelude? Why would JD basically agree with everything Ron Paul has been saying for years, in one succinct statement?

EDIT: He said that shit over a year ago.

http://www.bloomberg.com/news/2012-10-10/dimon-says-bond-markets-to-spurn-u-s-if-deficit-is-unresolved.html