The media is reporting JP Morgan Boss of bosses, Jamie Dimon is irritated with the current state of the American government. Seemingly careful to not name names he speaks in broad terms about government dysfunction, and the resulting lack of action on taxes, education infrastructure and one assumes, making more money with less chaos.
While obviously a perfect illustration of the kettle calling the pot black, Dimon, pirate in chief off the U.S.S. Very Enormous Corporation of America – Whose motto is: We make money clean – is also delivering a perfect illustration of how to threaten the government.
By speaking in broad terms with code words he’ saying: – Hey, assholes, I and my crew are sitting on billions of dollars that no one wants to invest because we have no idea what you people will do next…start a war? Start a war and use an atom bomb or three? Stage a coup but call it impeachment or just stage an impeachment that drags on for years and paralyzes the government and freezes the grease in the financial gears? Sounding like a textbook populist demagogue he added a line that almost makes him sound like he cares – about you as a person – which he does not – but instead is meant to convey that he cares about worker drones being able to keep the deluded and powerless middle class stable enough to act as a buffer between the aristocrats and the plebs.
“He blamed bad policy for “holding back and hurting the average American”
Exactly who Dimon thinks this average American is, what he and she do, or don’t – well your guess is as good as anyone else’s. But certainly, the Doge of Manhattan does not mean himself or his friends or even his enemies.
Regardless, Dimon’s point is that action must be taken soon because when he says it’s almost embarrassing to be an American – and no doubt encounters a stubborn refusal to do business overseas because people aren’t taking America seriously but are taking the threat to stability (a relative term under the best of circumstances) seriously – he means that they’re beginning to run out of runway and without the ability to invest the vast archipelago of derivatives and stock and property and cash generated by money laundering and the gears it lubes and the jobs – however scarce and low paying it creates – will all start to evaporate.
But while all of that is true it is, given the source, not very different from listening to a bank robber complain that the security at the bank is weak.
Wall Street and its colonies need the bank(s) to stay in business and that means the security – the politics and the bureaucracy must function – or things will fall apart. And for Wall Street a permanent underclass of wage slaves is essential to maintain the power of the 1%. The collapse of any pretense that the poor can claw their way out of poverty could send shockwaves through the country and the world.
If security falls apart the bank will eventually go out of business. After all, people have to believe the system, however crooked, is fundamentally stable. If you can’t invest a billion here and a billion there pretty soon you’ll be talking about real money and phrases like three day bank holiday start to make people nervous.
He didn’t actually say it but, so the story goes, (in)famous bank robber Willie Sutton was asked why he kept robbing banks and Willie said: Because that’s where the money is.
Wall Street has just threatened Trump by threatening the republican controlled House and Senate (and keep in mind Trump is too stupid to be afraid) and used that threat to hit a ricochet off Paul Ryan and Mitch McConnell that strikes Nancy Pelosi right between her eyes: Figure something out, make it happen, and let us get back to the business of making you rich and us richer without creating a crisis that could have all of us wiping the blowback from our faces while Occupy 2.0 occurs but this time ,organized and angry.