26 July 2012

One does not simply End the Fed

When Jamie Dimon says that we have no need to worry, as JP Morgan lost
$2 billion yet will still run a profit. Banks can only grow when the
economy first grows. Banks are supposed to grow as they help the
economy grow. When banking profits grow and economic activity
contracts, we have a problem.

JP Morgan came through the last financial crisis unscathed and ahead.
I wonder if it has anything to do with Dimon's position with the
Federal Reserve? Conflict of interest? I think so!

Ah, the failure of Keynesianism.
It's starting to smell like fascism.

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