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CNBC TRANSCRIPT: CNBC'S MELISSA FRANCIS SPEAKS WITH JPMORGAN CHASE CHAIRMAN & CEO JAMIE DIMON TODAY ON CNBC'S "THE CALL"
I watched the interview yesterday. He exudes confidence and optimism. No doubt about that. My defenses were up though, much like they'd be on a used car lot.
PEOPLE ARE SCARED FROM A BUNCH OF THINGS BUT I THINK THIS WILL PASS TOO. I DON'T KNOW WHEN. THREE MONTHS, SIX MONTHS, NINE MONTHS OR A YEAR. BUT IT WILL PASS AND WHEN THE ECONOMY IS GOING AGAIN, IT'LL BLOW YOUR SOCKS OFF.
That no doubt explains why I hoarded socks before we entered the recession in December 2007. Seriously. I did! And they have performed much better than the stock market has.
EVERYDAY 130 MILLION PEOPLE GO TO WORK.
130 million people go to work everyday? I thought it was more like 139.3 million. What's going to happen to those extra 9.3 million workers? I say this somewhat tongue-in-cheek, but maybe he knows something about the future that we don't.
Click to enlarge.
Claiming that Americans always need to work is a bit like saying that Americans always need to have a place to live. It has a certain National Association of Realtors feel about it.
SO IF YU [sic] ARE A LONGER TERM INVESTOR YOU SHOULD TRY TO ANTICIPATE THE DISAPPEARANCE OF THE HEAD WINDS.
I am a longer term investor. Unfortunately, my Maya calendar only goes out to 2012. @#$%!
7 comments:
What's going to happen to those extra 9.3 million workers?
I found 120,000 of them!
http://www.marketwatch.com/story/postal-service-plans-to-cut-120000-jobs-report-2011-08-11?link=MW_home_latest_news
Mr Slippery,
Your sarcasm cup overfloweth! Nicely played.
Postal Service plans to cut 120,000 jobs: report
If this trend is our friend, then one wonders what our enemies are doing.
"Not to be funny about it, but my daughter asked me when she came home from school 'what's the financial crisis,' and I said, 'Well it's something that happens every five to seven years,''' Dimon said. "We shouldn't be surprised, but we need to do a better job."
http://www.cbsnews.com/8301-503983_162-6093076-503983.html
So if the crisis is dated from the Bear Stearns collapse in July 2007 that calculates to July 2012 (given the new super-duper shortened duration...heck it might even be right now!)
There is no doubt the economy will indeed blow my socks off, decimate my retirement and obliterate my savings. But for Jamie and his ilk "it will pass" and he will promise to do a better job harvesting taxpayer money.
Good thing I have my super duper decoder ring to translate the conspeak.
I have a long term perspective. That's why I went to the sidelines in 2004.
Interesting how your trend graph shows how the stimulus package worked.
We're still screwed, though.
Cheers!
JzB
dd,
My super duper decoder ring is based on instant excuse ball technology. It provides real time analysis of the markets.
Jazzbumpa,
I have a long term perspective. That's why I went to the sidelines in 2004.
I might be a tad biased, but ALL the really cool people were doing it back then, lol. Sigh.
We should have run for public office. We could have made an independent Sidelines Party. We would have lost the election of course, but using hindsight we'd have been thrilled we did!
Just think how popular we'd be now! Time to start making those bumper stickers.
Sidelines in 2012: Stop taking so much @#$%ing risk!
List of political slogans
Awesome. The slogan isn't taken yet.
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