JAMIE DIMON DOES NOT UNDERSTAND WHY YOU FOOLS DON'T SEE THE ECONOMY IMPROVING! #needspecialglassesI doubt Dimon knows the first thing about business cycle theory, but he does run the most powerful nationwide bank in the country and he may have a clue as to what is going on with his clients.
So, I am with Dimon 100% on this. The data is improving, the stock market is one uptick away from being in positive territory for the year and, most importantly, Bernanke is printing money so rapidly that a "recovery" will eventually be clear for all to see, beyond just Jamie Dimon and me.
And Lauren, btw, those "#needspecialglasses" that you refer to in your tweet, it's called Austrian Business Cycle Theory. When a central bank prints money at accelerating rates, the flood of new money enters the system causing a false, manipulated boom. That's where we are at.
And you 'WONDER' why people are upset with the 'BANKSTERS'
ReplyDeleteWiemar Republic here we come... It won't be long now!!!!
The new money will not enter the system if the banks don't lend it. It will not multiply through the fractional reserve system. Rothbard talks about the expansion and contraction of bank credit and how important that is in America's Great Depression. Also, the Euro has more immediate problems than the dollar. There could be a flood of safety-seekers to the dollar. Yes, the Fed is printing money and this is inflation. But there are other forces at work too and we shouldn't be ignoring them.
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