Jamie Dimon, "...United States can’t borrow indefinitely".
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Jamie Dimon, "...United States can’t borrow indefinitely".
Posted by GumboPot on 10/16 at 3:12 pm
quote:

He was asked today whether bond markets would turn against the U.S., which has been able to borrow at near-record-low rates.

“I can’t honestly tell you I know it’s going to be two years or five years, but it will happen,” Dimon said. “It is a matter of time and the United States can’t borrow indefinitely.”

Dimon joins Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., in raising alarms about the effects of government debt on bond rates. Gross has reduced holdings of Treasuries for three straight months in his Total Return Fund. Gross wrote in his monthly investment commentary last week that the U.S. will no longer be the first destination of global capital in search of safe returns unless fiscal spending and debt growth slows.


I am very surprised by Dimon's comments on the US debt.

LINK


This post was edited on 10/16 at 3:13 pm

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Posted by LSURussian on 10/16 at 3:16 pm to GumboPot
quote:

I am very surprised by Dimon's comments on the US debt.
He has been saying this since before the 2012 election.

Why do you think AG Holder and his minions have been on a crusade against J.P. Morgan Chase bank since then?

They've extorted several billion dollars from the bank to either shut Dimon up or make him look bad.



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Posted by Jim Rockford on 10/16 at 3:18 pm to GumboPot
Jamie Dimon is one of the ones who got us in the situation we're in.


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Posted by LSURussian on 10/16 at 3:19 pm to Jim Rockford
quote:

Jamie Dimon is one of the ones who got us in the situation we're in.

How so?



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Posted by Walking the Earth on 10/16 at 3:21 pm to GumboPot
He's right but one of the (many) problems is that neither he nor anyone else is willing to go out on a limb and tell us when that point will be reached.

To be fair, they probably have no way of knowing but specific guidance would be useful.




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Posted by LSURussian on 10/16 at 3:22 pm to Walking the Earth
quote:

he nor anyone else is willing to go out on a limb and tell us when that point will be reached.
quote:

To be fair, they probably have no way of knowing



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Posted by boosiebadazz on 10/16 at 3:22 pm to GumboPot
He's right. And when foreign money starts going elsewhere and the United States' economy feels the effects of that, politicians will then be forced to change our spending behavior.

A free-market of global economies, if you will.


This post was edited on 10/16 at 3:23 pm

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Posted by GumboPot on 10/16 at 3:23 pm to LSURussian
quote:

Why do you think AG Holder and his minions have been on a crusade against J.P. Morgan Chase bank since then?

They've extorted several billion dollars from the bank to either shut Dimon up or make him look bad.


Wow. I did not know this.



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Posted by SlowFlowPro on 10/16 at 3:23 pm to boosiebadazz
but the vast majority of the debt is held by US individuals or institutions. they're the ones propping up the debt


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Posted by NC_Tigah on 10/16 at 3:28 pm to Jim Rockford
quote:

Jamie Dimon is one of the ones who got us in the situation we're in.
To the contrary, Dimon is one of the ones who got us out.

His repayment?
Holder is effing suing JPM!!!



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Posted by DeltaDoc on 10/16 at 3:29 pm to boosiebadazz
quote:

politicians will then be forced to change our spending behavior.


No they won't. They will spend it until the bitter end...and when the end comes (which is inevitable) they (democrats) will simply use their media and education influence to blame the other party.

It is as predictable as the sun rising and setting.


This post was edited on 10/16 at 3:30 pm

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Posted by Rohan2Reed on 10/16 at 3:29 pm to LSURussian
quote:

He has been saying this since before the 2012 election.

Why do you think AG Holder and his minions have been on a crusade against J.P. Morgan Chase bank since then?

They've extorted several billion dollars from the bank to either shut Dimon up or make him look bad.


Yep. Just another example of what happens when you cross this administration. Guess the lesson to be learned here is that you may be punished for NOT having to be bailed out by Washington.




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Posted by constant cough on 10/16 at 3:30 pm to GumboPot
quote:

"...United States can’t borrow indefinitely".



Somebody forgot to tell Boehner that.



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Posted by RCDfan1950 on 10/16 at 3:34 pm to SlowFlowPro
quote:

but the vast majority of the debt is held by US individuals or institutions. they're the ones propping up the debt


Somebody put up an easy graphic the other day. Definitive.

I noticed that the Fed was a big player. So, the Fed prints their own money and buys bonds and counts those bonds as assets? WTF. Sounds like Fannie Mae to me.

I know one thing...the Progs have a 'never let a good crisis go to waste' plan ready to go. I watch Bob Beckel on "The Five", and he simply writes off the debt issue like it is nothing. However, he never explains WHY. Just clams up. What does that tell me...that Bob KNOWS what the end game is, and it is good for his (Statist) agenda.

Interesting.






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Posted by SquatchDawg on 10/16 at 3:34 pm to SlowFlowPro
quote:

but the vast majority of the debt is held by foreign countries, social security, the FED reserve and retirement/pension funds


FIFY

US Debt Breakdown



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Posted by Rohan2Reed on 10/16 at 3:35 pm to NC_Tigah
quote:

Jamie Dimon is one of the ones who got us in the situation we're in.


quote:

To the contrary, Dimon is one of the ones who got us out.


I loved when Dimon took a nice little jab at D.C. last week when he said JP Morgan would fund the $8 billion in government benefits that his bank processes each week for its clients, even if the government doesn’t actually pay those obligations.



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Posted by Mo Jeaux on 10/16 at 3:37 pm to GumboPot
quote:

Wow. I did not know this.


October 16, 2013 - CFTC Files and Settles Charges Against JPMorgan Chase Bank, N.A., for Violating Prohibition on Manipulative Conduct In Connection with "London Whale" Swaps Trades





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Posted by Rohan2Reed on 10/16 at 3:40 pm to Mo Jeaux
$100 million penalty .. and probably a couple billion in legal fees. great job Obama/Holder/et. al. maybe this will teach them to bow to their regulatory masters!


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Posted by Taxing Authority on 10/16 at 5:05 pm to Walking the Earth
quote:

To be fair, they probably have no way of knowing but specific guidance would be useful.
You rarely get clear and timely warning for incipit credit crisis. Witness 2007. That's one of the things that makes them so dangerous. And so difficult to reverse.


This post was edited on 10/16 at 5:08 pm

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Posted by Tigahs on 10/16 at 5:11 pm to LSURussian
quote:

They've extorted several billion dollars from the bank to either shut Dimon up or make him look bad.


I've heard many types of conspiracy theories but this one seems rather unlikely



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