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 ...
If all these people are getting left behind NOW then what the hell was going on when Bozo the WunderKlown was presiding over the economy with its starkly lower stats?
Leftist cliché bingo is going to be a blast this season.
Exactly?
“Jamie.....What man goes by the name “Jamie”? “
Jamie Benn,for one.
NHL player,hardly a girlie game.
.
.
“Forty percent of Americans make less than $15 an hour.”
Exactly.
They’re not MAKING >$15/hr.
Them. Themselves. Making. Whatever they’re doing, they’re not producing more than $15/hr of value. What they’re doing isn’t worth $15/hr.
The progressive/socialist mind never considers the issue of _productivity_.
Never occurs to them that “making money” is a matter of “creating wealth”, not merely redistributing currency in exchange for putting in time & motion.
Yes, some people hit a confluence of events which renders them with no stored wealth, and little income.
Yes, some people face existential limits of resources.
Yes, some people just don’t, by essence, produce much of value.
Yes, some people just don’t, by choice, produce much of value.
Stop conflating all of them as a uniformly capable & uniformly deserving “poor”. Help them as needed.
Some need a brief hand out, getting over a hurdle to achieve/resume self-supporting productivity.
Some need chronic aid, being incapable of earning their keep.
Some need guidance to what they can reasonably do, unable to do much more.
Some need face the consequences of choosing their lifestyle.
To the article’s point:
Those congregating around centers of productivity tend to be productive.
Those congregating in unproductive areas tend to be unproductive.
Hence disparity in common income.
O.K. Jamie, I’ll take $10 million.
Make that a money order, please. Thanks in advance.
You are incorrect.
Things happen every day that people do not want, that they may even have foreseen and tried to avoid, but happened anyway.
As well as being subject to other’s choices;
or even accidents of birth and discrimination (read up on the college admissions scandal, and on the lawsuit by some of Asian descent against Harvard).
Or those who suffered so (say) Kamala Harris or Elizabeth Warren could get ahead.
While it is true, back then, mostly due to 8 horrible years of Obama, the divide has grown, with the middle class taking the brunt of wee barry's mess, just where was this bozo crying crocodile tears in his cornflakes prior to Trump?
LIBTARDS FABLES
Barack Obama (Peace Be Upon Him) worked so hard for 8 years to drag the bottom 44% (who pay no taxes) up the economic ladder.
Then old MAGA Meanie Trump came in and took all the money away and gave it to the wealthy 5% who thanked him for screwing the poor people and making them all richer.
Then they turned around and gave all the money to wealthy democrat politicians because they are all nice people and deserve it.
/s
Fox announces the chickens aren’t doing so well.
Illegal immigration has robbed millions of good jobs and pay from our working class. Just look at all the construction jobs that have gone to illegals. Those jobs used to support a family.
yep
Did Jamie Dimon announce he is running for president at the end of this campaign speech?
Oddly enough, 40 percent of Americans consistently vote DemocRAT.
One of the most profound observations during my 21+ years here on FR. Thumbs up RR.
As long as they have their toys and taxpayers subsidize their choices - the poor don’t care.
My first semester teaching at a college powerhouse in basketball, two players from the team came in and asked for their copy of the final. I told them the final wasn't for two more weeks. They said they knew that but, because they were on the BB team, they got copies of finals two weeks before it was given. I said not in my class you don't. I never had another student athlete in any of my classes. So, who's in the wrong here? Me, or the coaches/teachers who went along with it?
If these poor people can’t afford a $400 car repair bill, where are they getting the money to overdose on opioids?
JPMorgan Chase CEO tool TARP monies (taxpayer funds) even though he admitted the company did not need TARP funds......he donates primarily to the Democratic Party.
What does he know of the poor?
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