The Institutions Americans No Longer Believe In

Economy, Policies

The Institutions Americans No Longer Believe In

A major business leader is bullish about the American economy in the short term, but he has big concerns about the future of the country.

Jamie Dimon, the C.E.O. of the investment banking behemoth J. P. Morgan Chase, has issued a long letter to stockholders that has gotten considerable attention outside the business world.

He is extremely confident that the post-COVID economy will grow dramatically.  How could it not, what “with excess savings, new stimulus savings, huge deficit spending, more QE [quantitative easing], a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic.”  He thinks the good times will last into 2023.  But he warns against letting the coming success blind us to our nation’s underlying problems.  “”Unfortunately, the tragedies of this past year are only the tip of the iceberg — they merely expose enormous failures that have existed for decades and have been deeply damaging to America.”’

Read Full Article