‘Real Households Are Going To Be In Dire Straits’: JPMorgan Liaises With Biden On Stimulus

‘Real Households Are Going To Be In Dire Straits’: JPMorgan Liaises With Biden On Stimulus

Don't worry: JPMorgan knows what to do. With lawmakers in Washington still wrangling over how much to spend on the next round of virus relief and, just as important, where to direct the funds, the Chase PolicyCenter has some ideas. Back in October, the bank's policy group warned that a decline in spending by the jobless which began in August had shown "no signs of having plateaued" which, in turn, suggested that "in future months, spending among the unemployed could likely decline below August
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4 thoughts on “‘Real Households Are Going To Be In Dire Straits’: JPMorgan Liaises With Biden On Stimulus

  1. When a country’s biggest problems are internal and the government is unable to address them, it’s not unreasonable to think your system of government is in dire need of change. Problem is that overhauling a government usually starts with mass violence.

    1. The elites fail to change. Almost always. They also never give anything up. It’s like a ratchet. They will wait years to take the ratchet one more click. They never lessen the clicks on the ratchet. They play the long game and never give anything up.

      By this time, we’ve all been shown that the elites in America are not exceptional; American elites are incapable of reform.

      We have Achille’s heels. One of them, mentioned in the article, could take, what, another 300 years before we overcome it?

      I watched the series Barbarians last week. I needed a refresher. Implicit throughout the story is how the elites manage dominion over disparate tribes…and also what happens when the disparate tribes unify, if just long enough to deal with the old elites.

      I hope George Friedman’s narrative in the Storm Before the Calm does materialize. His has an upbeat ending while acknowledging along the way that things will seem like we are tearing ourselves apart.

      We’ve seen how naive and mal-educated our country is. (I love the recent tweet that made reference to in America, when we riot, we burn hair salons and pizza joints; in France, they through flame to the central bank.) Fact is, history is not pre-determined and we might end up losing the economic status of being an OECD nation while still being a military super power with the reserve currency.

      1. My favorite website explains how Washington works this ratchet effect. The Republicans are always turning the axle to the right. Today’s corporate Democrats are the ratchet that keeps any leftward motion locked out. Both are well rewarded by the elites for their services to wealth.

      2. “We have Achille’s [sic] heels. One of them, mentioned in the article, could take, what, another 300 years before we overcome it?

        If you think humanity will still exist on earth in 300 years, you are an optimist. My over-under is 150 years, tops.

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