Jamie Dimon talks about the possibility of corruption in a socialist country
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- Опубликовано: 13 сен 2024
- The CEOs of America's largest banks testify on Capitol Hill about how the industry has transformed in the 10 years following the financial crisis.
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This is like a judge going on trial for the murder of a judge in a town full of judges who were called for jury duty.
So we're not corrupted right now?
@@dividendincome9685 you're missing the point
@@dividendincome9685Firstly at least socialist countries in Europe have free health care for all. Secondly, there is no real communism in today's world of economics let alone politics. I never said I'm against capitalism it's just not a sustainable system to implement regulations and carry out policies. Yes government should be separate from private business and corporations and not interfere but you can't really compare American capitalism to foreign socialist and communist platforms. There's a reason why we're different countries with hundreds of languages, diverse cultures, and laws. What works and doesn't work for them can't be applied to us. Also this is why history repeats itself and America's economy won't be all that great to be honest, not with Trump's wannabe republic of hypocritical, corrupted, con, corny, lying communists.
@@dividendincome9685 you make absolutely no sense
@@dividendincome9685 you're again missing the point don't be butthurt and narcissistic your argument is invalid
@@dividendincome9685 reread what I said and you might find out that you missed the 'at least' phrase
Socialism makes capitalism look good, crony capitalism makes socialism look good
"Crony capitalism" is redundant.
@@Zayden. dont be some piss-ant sock puppet and dodge the issue by using sophistry.
Like it's not corrupt now
Thats bc these days they just get slapped with a fine....they think its all okay...
@@greeleyestatesloveit is for them. Extremely well protected by their legal team so no matter what they can’t be held accountable.
Good thing there is zero corruption in our capitalistic society....
HBO made a great movie about this called “Too Big to Fail (2011)”. I want to see the sequel to that movie. 🎥 🍿 😎
Dad they're still sending death threats to my phone in serial killer fashion
I couldn't sleep reoccurring nightmares
No one:
Politicians: vehHhicle
jamie looks like his brain is gonna explode on the vet compliance question that milk toast took first. I love that learning to look cool is something nobody truly perfects.
I guess that beats being having a gun pointed at you right?
CFPB is hallow, and they do nothing.
If you increase interest rate to decrease consumption, the result is recession. Unemployment rate will increase due to production decrease.
Socialism Economics Model :
Increase Infrastructure = increase taxes = inflation = deficit
Best Economics Model
Decrease taxes = increase private investments = deflation = superavit
increasing taxes doesn't increase inflation it does the opposite. You're taking money out of the public's hands
If the government increases taxes, the production cost will increase as a result. Therefore, people will charge more for their products. High products costs means inflation.
@@anamariaminucci243 that's a cost-push view of the drivers of inflation. This idea that inflation is driven by corporations' ability to raise prices and wages has been disproven in my eyes. Especially after the ineffective fiscal policy of the 1970s where the Johnson and Nixson administration failed to increase taxes to halt consumer spending and offset government spending. At some point, corporations know that they can't just increase prices or else consumers will not buy their products, especially if these same consumers experience a similar tax burden. Real-life economics is more complicated than your intro to macro textbook.
If the government increases taxes, someone has to pay for it. Who wants to decrease their profit margin in order to avoid to increase their product cost?
@@anamariaminucci243 Life is not an economic model.
Monetary and fiscal policy are often intertwined, not causal.
For example, right now if the US government decided to raise taxes in an environment where the FFR is at 4.25%, would companies just increase their prices leading to more inflation? The answer is probably no, since inflation has been primarily demand-driven. In fact, it seems like the Biden administration is currently raising taxes while increasing rates to fight inflation.
We ought to thoroughly study just how corrupt democratic socialist countries in Europe are; as well as the kinds of hardships average families face in those countries at a significant scale, so we have a better picture overall. According to another CNBC video, the tax wedge is very favorable towards corporations and entrepreneurial capitalists in countries like Sweden. ruclips.net/video/j0Z_fODM5gE/видео.html
Sweden is NOT a democratically socialist country. It is a social democracy, which, Dimon explained, is a market economy with a strong social safety net and some government involvement in the economy. Whatever your views, it’s good to do some reading and understand what the terms you use actually mean. FYI, Marx defined “Democratic Socialism” as the period before communism that requires authoritarian government and strict control on economic activity. It’s also known as “the dictatorship of the proletariat”. Basically, it’s what the Soviet Union was. The likes of Sanders or AOC calling themselves “Democratic Socialists” shows they are as ignorant as those people on the right they claim to despise
Democratic socialism and social democracy are the most overrated economic systems today. Most globe changing innovations come from USA and now slowly China . Just like the rest of the world Netherlands , Sweden, Norway grift off American tech . Norway, Netherland, Sweden have contributed very little to none in terms of globe changing tech.
If you decrease consumers, you create a recession (unemployment rate will increase if you reduce production)
*Everyone talks about the possiblity of corruption in an indirect democracy*
This is a very basic definition of Socialism : A political and economic theory of social organisation which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. If the majority of wealth is with a very small percentage of rich and powerful people who do no work but reap the 'monetary and share benefits.' I'm open to productive ideas as to why capitalism is much better than socialism? I'm not a socialist, but I do believe the working class are unfairly treated and deserve a better way of life. Any thoughts would be welcome.
A mix of social programs and capitalism is ideal. People look at Nordic countries and mistakenly say they're the model for socialism. That's not socialism though. What they have are strong social programs underpinned by free markets. A socialist society would be one where state-owned enterprises are the primary means of economic productivity. That sounds great in theory because technically the public owns all the corporations until you look at actual examples of this at play. Corruption is worse than what you would see in a private company because daily operations are so dependent on the political environment. PDVSA's board of directors for example were all relatives and friends of the Venezuelan regime. Same goes with China's national banks. Political favors are a prerequisite to get any major financing done, they fund ghost projects to prop up industry, and they have a runaway shadow banking sector. I'm all for expanding social programs but nationalizing private companies is just about the worst way of fighting inequality.
Hi Nelson. The most important problem with these solutions is the lack of honesty and openness from the people in charge, that's how I see it. If there was more accountability then surely this would be a positive step forward. And if the accountability was properly enforced and not bargained down, then this would be a deterrent against others trying to do shady and unlawful actions for greed and profit. I appreciate your comments and thank you for responding in such a clear and thought out manner. @@fastdollar1
I’d sue them knowing they’ll pay me off real nice 😎
This is so ironic. Guy has a net worth of 1 billion and churns out employees and works kids 60-100 hours a week. He knows the US is fucked with debt that is approaching Italy Greece and Japan % of debt to GDP ratio. Rise in taxes here we come!
Jamie Dimon for President.
You need a mental health exam
hilarious coming from the poster boy of too big to fail
Poster boy of too big to fail? Chase was the only large bank to remain stable during the financial crisis. They acquired WaMu and Bear Sterns, both toxic assets at the time, at the request of the US government since they were one of two firms who could sustain catastrophic losses, the other firm was Berkshire Hathaway which said no. I think you need to get your facts straight because Dimon's fortress balance sheet is the primary case study on how to survive a global recession. You're probably thinking of Lehman Brothers or AIG.
@@fastdollar140 billion in fraud violations since the year 2000- JP Morgan also lays claim to this fact.
Jamie Dimon had JP Morgan Chase developing a competitive coin for digital blockchain use while he called bitcoin a fraud.
He seeks a monopoly over currency and has been involved in collusion on tax payer property to get Bear Stearns, force Lehman out of business, and consolidate centralized power of yhe global financial system.
The centralized financial system is the cause for wealth disparity and econonic disparity globally.
JP Morgan Chase should be nationalized and all executives held accountable for the 2006-2010 financial crisis that they created.
Very childish comment. You, sir, have a pretty doomed future.
You aren’t as intelligent as you think you are kiddo
@@kiettran9694 it's spot on
@@kiettran9694 they're going down
@@kiettran9694 nimrod
Zero trust in these bankers..
You should trust them more than politicians, because bankers don't give a shit about what people think of them, so they'll speak what they think is true
Should not trust your mom either when she told you your dad is your dad
Eu quero que vc manda uma mensagem pra mim
Nothing these money hungry fools say makes any sense 😐
In capitalism there is not corruption. Hahahahahaha
Snakes the lot of them
Too much socialism leads to more capitalism, and too much capitalism leads to more socialism. I rather have too much capitalism than too much socialism, though.
So capitalism doesn't have the possibility of corruption?
If the power of the federal government was drastically reduced then yes. Corporations know the government has the authority to grant special favors so it makes sense why corporations buy political influence.
What system doesn't have corruption? Socialism? Marxism/Communism? Both Socialism & Communism oppress the people, limit hope, Individual Liberties & place constraints on the people cause the Government is in Control! At lease with Capitalism opportunity is for all, irrespective of race, color or creed!
What about banking corruption dotard?
This guy speaking of corruption... Oh the irony!
Thats rich coming from this guy.
may thang nguoi hau oai hung