Posted on 03/18/2019 1:31:04 PM PDT by RoosterRedux
J.P. Morgan Chase CEO Jamie Dimon said that the U.S. economy has essentially been split into those benefiting from thriving corporations and those who are left behind.
“I don’t want to be a tone deaf CEO; while the company is doing fine, it is absolutely obvious that a big chunk of [people] have been left behind,” Dimon said. “Forty percent of Americans make less than $15 an hour. Forty percent of Americans can’t afford a $400 bill, whether it’s medical or fixing their car. Fifteen percent of Americans make minimum wages, 70,000 die from opioids” annually.
“If you travel around to most neighborhoods where companies live, they’re doing fine,” Dimon said. “So we’ve kind of bifurcated the economy.“
Dimon was speaking at an event at the bank’s New York headquarters to unveil a new $350 million program to boost job prospects for people in under-served communities. The J.P. Morgan chairman and CEO has frequently voiced concern about the declining labor force participation rate and the shortfalls of the educational system in preparing people for emerging roles.
(Excerpt) Read more at cnbc.com ...
Two Americas crap again?..................
Wow, this is so important it should be on the top of Drudgereport. NOT!
Telegraphing to the approaching Socialist Monster “please eat me last!”
Then donate everything but 50 grand a year and STFU
Poor = illeagals
The poor haven’t been left behind, the rich lavish money and attention on them.
Middle class has been left behind.
ON PURPOSE.
Here’s a wacky idea, pay the rent and step away from the opioids.
bookmark
Oh BS! How fat are our ‘poor’? What are they watching and WHAT are they watching it on!!??
Give me a break ...
How you reduce the wage gap, between rich and poor, is to bring back manufacturing jobs. Those are the jobs that lift people from bottom to middle, and middle to upper middle.
And to the top, because industrial projects spin off small contractors who service them, and small contractors often grow into large ones.
And industry means technology transfer, from person to person, from plant floor to engineering and back again. If you aren’t manufacturing, you aren’t generating knowledge, and that knowledge vacuum will be filled by someone and it won’t be by you or your grandkids.
Everyone can Google - Cantillon Effects
Or simply see a simple explanation of Jamie Dimon’s role in this
https://www.austriancenter.com/cantillon-effect-populism/
The poor bring in more $$$$ than the middle class.
The welfare secretary near here quit after realizing the clients were making more sitting at home than she was working 40 hrs/wk.
Corporate CEOs who want to get poor people working at better jobs and making more money.....maybe we could use some of this.
How about this? Quit offshoring and hire Americans? Stop with the H-1B visas and stop corrupting congress with bribes to keep the LEGAL immigrant flood valve open.
Perhaps the poor should have contributed something of value to the country beyond videos of them being fat
He couldn’t live on 50g’s a year..................
more of this krap?
let Jamie donate his “benefits” (wages) to the poor, then.
there’s nothing stopping him except his big mouth’s in the way.
well, talk is cheap....very cheap....
The “poor” I see are always talking on much nicer smartphones than what I have.
I’ll tell you WHY Jamie Dimon (on of the worst-spoken CEO’s on the planet) -
THE COST OF FUEL owing to green projects (like windpower here in Texas) and the WAR on COAL!
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