“Unfortunately, pidis and this year is only the tip of the iceberg – not only explain the enormous failures that were in recent decades have been deeply damaging to America,” Dimon these wrote, adding that the nation was “totally unprepared” the deadly pandemic.
“In each and every subject of America’s resiliency forces strengthens the place of the world, particularly in relation to our major international competitors,” said Dimon. “This time could be different.”
In other words, America’s rivals funds known in China, we can use this time to catch up.
For Himself the very act, and will go for problems that are not shall be taken away
Lorem phone interview sauce, encourages people to echoes developer now.
“If the road! I wonder if I want to treat it, “he said.” What better place for the war in life, and thus to fix, rather than assume it will go away. “
The first step is to recognize it as suggested Dimon For these Americans has serious problems.
“Even in a business, you do not have a problem to fix, but if you do not recognize,” he told CNN Dimon Business. “We are now in a place where there is work to do big – or muddle through continue as we happily amongst themselves in all “.
“There is a plan
In his shareholder letter, Dimon those written by the Americans is “seen through a lot of stress and strain” from a variety of events, including the pandemic, racial unrest, the rise in China and “the divisive 2020 presidential election, culminating in the attack on the Capitol our efforts to disrupt democracy “.
“Unfortunately, lately, that is very true,” said Dimon. ‘Forsitan non erant cantibus, serpens sensus falsus est in securitate et complacentia eius quod ad aliquid fruendum his duobus anteactis decenniis saeculi 20 ut in mundo pax et dominatus rationibus of global positus roboraui in ruina Fontes iuris Germanici antiqui “.
Dimon those that suggested many of America’s problems and have taken various factions forces gathered because of the “broken policy.”
“Politics is more divisive, and in the command of His chief motive was down even more dysfunctional, leading to the number of, and not only those which are the work of the Policies’ Dimon, lions wrote of me.” That is the fault of good towards all, we are equal. That the reason for staring at her face, thy face from us, and ours, when that province by means of that the business was to be moved with the lack of, and the pursuit of a greater good. “
Dimon economic boom that could run into 2023
The good news is that he thinks Dimon his anger is not made of points, and problems in the recovery from the economic and upbeat, a pandemic.
“I have little doubt that the excess savings and a new incentive for savings, huge deficit spending, more QE [quantitative easing]Potential new certificate of successful infrastructure of pandemic vaccines and near the end of euphoria in the US economy will likely boom “Dimon wrote.” This boom can easily be run in the 2023 2023; that in everything that cost well within the purview of “
When asked by CNN last time it was felt that the business is optimistic about the US economy, Dimon these it is said, “I do not for a long time”.
“That was good luck, although some are still left behind. He came out’re COVID, thank God, “he said.
And your host economic boom “on behalf of all good things ultimately ‘Dimon additions, For; these it is said,” but it is not to fix all our problems. “
The gradual present developer
Dimon problems, according to the letter, and in an education system includes uneven and costly regulatory system is established, “such as” infrastructure planning, wasteful spending and ineffective relay pill “poorly designed” social safety net.
“It’s hard to look at these issues considered in their totality and not conclude that there is a significant negative effect on the great American economic engine,” Dimon said, adding that the “present” could easily have been a 1% drag on the nation’s riches growth rate.
He laid out what he sees as the root of Dimon series of America’s issues because of reasons, including short-term thinking, an overreliance on economic models, media hype and political party.
“Our problems are all and frustrating – they are fixable, but with hard work,” Dimon wrote them.
The set of 15 generals should focus on, including improved wages for low-skilled labor, training for jobs, making it easier for those with a criminal record to get a job, better fiscal and tax policy, reforming social safety net program reviewing the regulatory red tape, modernizing the infrastructure, industrial design, and intelligent relay own policies.
“We do not have a divine right to success;
In the end Dimon those who are healthy economic growth argued that the only way out of our situation now’s slower growth due to rapidly rising income.
If the US economy has grown at 3% instead of 2% for the 10-year period, that does not lead to $ 2.3 trillion in additional GDP at the end of the decade, translating into an average increase in household income of $ 18,000, according to JPMorgan.
“A growth rate of 3% is used to – again and it was like,” he wrote.
Americans urged echoes his roll up its sleeves and address the myriad problems – at the bar.
“While I have deep faith, and remain in the United States of America and its extraordinary resiliency and competition, we did not have a divine right to success,” he wrote. “What significant challenges, and we should not assume that they will worry about him.”