I mean, yes.
That’s not untrue.
I’ve been around enough wealthy people in my life to have seen that first-hand. They do think they’re superior through and through, and everyone else is an inferior dirty asset. I’ve been in the room when these conversations are had.
Yeah me too. What I found fascinating is that rich people believe they are superior to poor people, but simultaneously do not realize that people who are richer than them think they are superior to them. It’s some highlander shit; “there can only be one.”
It's not complicated. It's just a cycle that never ends.
You're *never* going to be rich enough. If you become a millionaire tomorrow, you're in the low class of millionaires. It just keeps leap-frog tiering higher and higher from there. There's always someone else with more wealth than you, and they all bend over backwards to have more and more exclusivity and 'status' than their peers.
This is why the age-old wisdom goes 'don't chase money.' The chase never ends.
There are only like, what, 2-3 people who can claim to be fighting for the "richest" in the world? There are ***8 billion people*** on the planet. The two who are fighting for the top are two guys who were born into immense privilege (Musk and Bezos). They both had parents with money, in spite of claims to the contrary.
Anyway, there's no such thing as a meritocracy or equality in the world yet. It's all BS to keep people fueling the money printing machine (the "treadmill of production," IOW).
Its sociopathic. We recognize this in the pursuit of anything else but wealth... Drugs, sexual partners, etc. Too much of anything is bad, including money. *Especially fucking money*.
Some of the most useless people I’ve ever encountered were very, very wealthy. It was wild to hear them insist that their Ivy League degree, while having no discernible skills.
They wouldn't be rich if it weren't for the work we do for them. I dare them to be rich on their own, from penniless to billionaire, without the services and labor of other people.
I think the most jarring anecdote conveying this was when a group of higher-ups at a coffee chain ended up discussing the starting wage to employees at one of their locations.
"Do you really think that $10 an hour is enough to live off of?"
"Of course!"
"Could *you* live off of $10 an hour?"
"...well, you all are different."
Yep. Legit how their brains work. As if the fact that they have money makes them not a normal-ass human.
Money which can be lost overnight for many of these over-leveraged people. It’s why many literally commit suicide when they lose money in a financial collapse. They’d literally rather stop living than admit they’re just like everyone else. Let that really sink in (it has happened throughout history).
I'm convinced that money can be just as much an addiction as drugs. The fact that its loss leads people to commit such drastic acts is perfectly in line with this
It's not so much that money is an addiction as it is the lifestyle and perceived social status it affords.
People spend more and more, then they get used to a style of living, and to chase that high, they think they have to keep spending more and more.
People also equate "money" with this sense of a "better life." You see this in family law too. It's why judges write orders that require one parent to pay obscenely asinine amounts in "child support," as if a kid needs to maintain a $150,000 a month lifestyle to just be a healthy kid (god forbid the other 8 billion people don't make 1/10th of that a month...we must all be on the verge of death!).
The whole way we mix up money with everything else in life is just cancerous. It's not money itself that is the issue, it's what we think we can do with it.
Well, yeah, I agree it isn't the concrete object but the things around it, the things that it can acquire, the prestige that comes with having a lot of it. What I'm getting at is that, at a certain point, it seems to engender an insatiable greed for money in excess of what they could even spend.
Re:child support. I can see an argument for it in terms of psychological welfare of the child, and not just equating it with "better life," if the other parent is low-income. With the rich parent uninvolved, knowing that parent has obscene wealth while receiving very little would likely screw them up more. With the rich parent involved, it would make it harder for the rich parent to bully the low-income parent by "buying" the child's affection. So, I can see it as being more minimizing contrast, than anything else, though idk if that's the reasoning the judges use. Obvs I agree it's all messed up (and relatively petty) when we consider the stark inequalities of the world.
No, these people don't want you to be able to. They know you can't--and that's the way they keep it, on purpose.
Almost all of the ones I rubbed elbows with were nepotism sociopaths. Almost every single one. I never met one person who was actually talented or skilled enough to say they "earned" their position/status/title.
These people know it's a closed club, and they don't want anyone else getting access.
I shit you not, one person I used to respect from my high school started a business and he's like "there's two types of people: entrepreneurs and workers." He said the latter with tangible snarl.
Your boss classifies you as an enemy.
I know a wealthy family who constantly rants against welfare and how we’re creating a “nanny state” or whatever. Lo and behold: we found out they were gaming the system to collect unemployment when they retired by pretending to look for work. When we asked about it, they were like “It’s different in our case - we’re going to use the money in our retirement and we worked our whole lives for it!” They honestly have no clue!
But that's also because so many people kiss their asses solely because they're rich. I have a close friend who's rich, my best bro and I are the only people who don't care about his status, we're among the few people that don't treat him any differently and it's keeping him more grounded. When so many people around you worship the ground you walk on, it's easy to lose touch with reality.
Yep. Which is the way I treat the CEO of the place I work at. Not that big of a company, but the dude also came from money and started a company out of college--guy has never worked an actual job in his life.
Has spent the last 20 years living in his own world, thinking he's god. IDGAF though and I treat him like anyone else. It slays me watching people flip their entire demeanor when he comes around. I literally couldn't care less.
Yes you did. They got so busy investigating pople blowing the money on BBLs and escalades while stunting on social media that anyone who was even the least bit careful got away with it scott free. Doesn't pay to be honest in today's world.
Absolutely, it's what every single one of these headlines has referred to since PPP loans were forgiven.
And all we the workers do every time is say "we already used the $1200".
Man I should’ve timed how fast my money was gone. And hell I didn’t get mine till AFTER tax season. I Usian Bolted my money on bills. (I didn’t even pay off the total amount on the bills) Glad to hear from a CEO I actually still have some money lying around all this time.
I met with a right wing (was obvious) small-ish business owner who commented on the economy and how we'd be in a better place if the government would stop giving people "that free covid money still".
I shit you not, I hear this regularly....
Government bonds are a form of stimulus to those that already have a lot of money.
Starting in 2020, there are $1,000,000,000,000 more bonds out there paying interest.
That stimulus to the rich will never trickle down. The rich bought more of our lives with it. The rich whose stimulus has not ended are the Americans that jpm CEO is referring to.
The $1200 x 300million people is equal to about the same amount as those bondholders will receive in the next 10 years. But their stimmy will never end.
And the US doesn’t even need to issue debt this way. The government could literally just print the money and bypass the middle man but they choose not.
This isn't stupidity, it's weapons-grade cynicism and an effort to trick investors (including retail investors) into believing everything is fine and that the market is stable, ripe for more investment.
He's a ghoul, not an idiot.
So while this is usually true with most banks, JPMorgan & Dimon were one of the few banks that got out of the subprime mortgage bubble before it burst, largely because Dimon said "this is a bad idea, we should get out." There's a reason JPMC were the ones asked to buy Bear Sterns, and why (relative to other banks) JPMC came out of the recession doing well and immediately paid back the bailout money the government gave them.
I'm more and more convinced that "the economy" means different things.
My economy is grocery prices, car insurance, my 401k, how much my kids rec sports cost. Feeling like the govt represents his interests.
His Economy is the stock market, dividends, million dollar bonuses, stock buy backs, minimal tax rates. Making sure the government represents his interests
His economy is great. The rest of us have varying results.
I worked for a company that did work on his house. He’s apparently a massive dick in person as well. Just treats normal people like they’re subhuman. His wife is very nice though.
Dude, Starbucks CEO from last week…
https://preview.redd.it/91coanz90yyc1.jpeg?width=1155&format=pjpg&auto=webp&s=e2d6ecc4eef7785e2693ed924c3f52e820724377
Being out of touch is exactly what qualifies him to be a CEO. Exploiting the masses is far easier when you don't have any awareness of the lived experience of ordinary people...or a conscience. Jamie Dimon is a particularly good example of this phenomenon.
Some of us peons were forced to slave for society in red zones and only got the bare minimum stimulus payments, no unemployment and time off, much less raking in PPP grift. In a more civilized society.....fuck these evil morons
I think I get it. They misspoke. By saying people still have money from COVID, they actually mean that people still OWE money from COVID because they got laid off while living paycheck to paycheck and had to take on debt!
For me, it's technically not wrong. But then again I was overseas on the governments dime for 2022, sooo....
I think I am supposed to say something stupid that only rich and privileged (I am not the first, but I am the second, though not to any great degree) people who are unaware of those aspects say here?
"Grrr, I earned my money, these damn commie liberals wanting everything handed to them!" /s because without it, internet happens.
I like MorePerfectUnion but this is a dumb criticism. Jamie Dimon isn't talking about the stimulus cheque, he's talking about all the excess savings from people who were able to work throughout Covid but curtailed their spending because they weren't going on trips or hanging out in person with friends during lockdown.
I think Jamie Dimon is an asshole like every billionaire but don't do a bad take when there are so many legit ones you can make.
It's like the media taking the "bloodbath" comment from Trump and quoting it out of context and now he and the MAGA idiots have a legitimate gripe with the media covering him. Trump is a walking, talking "October Surprise" and it's either not enough for the media or the editors are too damn lazy to check their work before reporting. The media didn't learn a damn thing after 2016.
"Excess savings from people who were able to work throughout covid" --
First of all, what, pray tell, is "excess savings"? Would that be money that is more than we are supposed to have, being poor and all? Because last time I checked, "excess" means "more than is needed."
And you know as well as I do (and this swine in the article knows too) that immediately after the worst of covid passed, they jacked up everybody's rents to an appalling amount, and instituted obscene rises in the price of food.
In no way shape or form are we doing well.
>First of all, what, pray tell, is "excess savings"? Would that be money that is more than we are supposed to have, being poor and all? Because last time I checked, "excess" means "more than is needed."
No, you're purposefully missing the context of "excess" I was using here:
>...all the excess savings from people who were able to work throughout Covid but curtailed their spending...
"Excess" as in saving more than an alternative version of themselves that didn't go into lockdown.
>And you know as well as I do (and this swine in the article knows too) that immediately after the worst of covid passed, they jacked up everybody's rents to an appalling amount, and instituted obscene rises in the price of food.
There is a large proportion of people in the country that have their housing costs more or less fixed (mostly Boomers and Gen X's that own their home outright and whose kids have left to live on their own) who didn't experience the same squeeze from rising prices in their budgets.
Remember all that talk about a "K" shaped recovery after lockdowns? The people that were were doing well before Covid recovered a lot faster than everyone else. Mainly for the above reasons, having investments in the stock market and being in a stage of life where your spending goes down significantly.
There's still a large number of people not doing well, I acknowledge and know this.
Jamie Dimon is an evil mortherfucker, but he's not stupid. He doesn't say this to the press because he thinks $1200 has lasted people for 4 years. It's for the above reasons he said it. Criticize him for that.
He's secretly referring to all those who had their PPP loans forgiven
The only people he counts as people.
I mean, yes. That’s not untrue. I’ve been around enough wealthy people in my life to have seen that first-hand. They do think they’re superior through and through, and everyone else is an inferior dirty asset. I’ve been in the room when these conversations are had.
Yeah me too. What I found fascinating is that rich people believe they are superior to poor people, but simultaneously do not realize that people who are richer than them think they are superior to them. It’s some highlander shit; “there can only be one.”
Then we add the classic old money vs. new money fight, and it gets even more complicated.
It's not complicated. It's just a cycle that never ends. You're *never* going to be rich enough. If you become a millionaire tomorrow, you're in the low class of millionaires. It just keeps leap-frog tiering higher and higher from there. There's always someone else with more wealth than you, and they all bend over backwards to have more and more exclusivity and 'status' than their peers. This is why the age-old wisdom goes 'don't chase money.' The chase never ends. There are only like, what, 2-3 people who can claim to be fighting for the "richest" in the world? There are ***8 billion people*** on the planet. The two who are fighting for the top are two guys who were born into immense privilege (Musk and Bezos). They both had parents with money, in spite of claims to the contrary. Anyway, there's no such thing as a meritocracy or equality in the world yet. It's all BS to keep people fueling the money printing machine (the "treadmill of production," IOW).
Its sociopathic. We recognize this in the pursuit of anything else but wealth... Drugs, sexual partners, etc. Too much of anything is bad, including money. *Especially fucking money*.
Some of the most useless people I’ve ever encountered were very, very wealthy. It was wild to hear them insist that their Ivy League degree, while having no discernible skills.
\*There can be only one!
They wouldn't be rich if it weren't for the work we do for them. I dare them to be rich on their own, from penniless to billionaire, without the services and labor of other people.
I think the most jarring anecdote conveying this was when a group of higher-ups at a coffee chain ended up discussing the starting wage to employees at one of their locations. "Do you really think that $10 an hour is enough to live off of?" "Of course!" "Could *you* live off of $10 an hour?" "...well, you all are different."
Yep. Legit how their brains work. As if the fact that they have money makes them not a normal-ass human. Money which can be lost overnight for many of these over-leveraged people. It’s why many literally commit suicide when they lose money in a financial collapse. They’d literally rather stop living than admit they’re just like everyone else. Let that really sink in (it has happened throughout history).
I'm convinced that money can be just as much an addiction as drugs. The fact that its loss leads people to commit such drastic acts is perfectly in line with this
It's not so much that money is an addiction as it is the lifestyle and perceived social status it affords. People spend more and more, then they get used to a style of living, and to chase that high, they think they have to keep spending more and more. People also equate "money" with this sense of a "better life." You see this in family law too. It's why judges write orders that require one parent to pay obscenely asinine amounts in "child support," as if a kid needs to maintain a $150,000 a month lifestyle to just be a healthy kid (god forbid the other 8 billion people don't make 1/10th of that a month...we must all be on the verge of death!). The whole way we mix up money with everything else in life is just cancerous. It's not money itself that is the issue, it's what we think we can do with it.
Well, yeah, I agree it isn't the concrete object but the things around it, the things that it can acquire, the prestige that comes with having a lot of it. What I'm getting at is that, at a certain point, it seems to engender an insatiable greed for money in excess of what they could even spend. Re:child support. I can see an argument for it in terms of psychological welfare of the child, and not just equating it with "better life," if the other parent is low-income. With the rich parent uninvolved, knowing that parent has obscene wealth while receiving very little would likely screw them up more. With the rich parent involved, it would make it harder for the rich parent to bully the low-income parent by "buying" the child's affection. So, I can see it as being more minimizing contrast, than anything else, though idk if that's the reasoning the judges use. Obvs I agree it's all messed up (and relatively petty) when we consider the stark inequalities of the world.
It's the attitude of "I did it so you should be able to too" omitting any help received or just sheer dumb fucking luck.
No, these people don't want you to be able to. They know you can't--and that's the way they keep it, on purpose. Almost all of the ones I rubbed elbows with were nepotism sociopaths. Almost every single one. I never met one person who was actually talented or skilled enough to say they "earned" their position/status/title. These people know it's a closed club, and they don't want anyone else getting access.
I shit you not, one person I used to respect from my high school started a business and he's like "there's two types of people: entrepreneurs and workers." He said the latter with tangible snarl. Your boss classifies you as an enemy.
I know a wealthy family who constantly rants against welfare and how we’re creating a “nanny state” or whatever. Lo and behold: we found out they were gaming the system to collect unemployment when they retired by pretending to look for work. When we asked about it, they were like “It’s different in our case - we’re going to use the money in our retirement and we worked our whole lives for it!” They honestly have no clue!
Lmao
But that's also because so many people kiss their asses solely because they're rich. I have a close friend who's rich, my best bro and I are the only people who don't care about his status, we're among the few people that don't treat him any differently and it's keeping him more grounded. When so many people around you worship the ground you walk on, it's easy to lose touch with reality.
Yep. Which is the way I treat the CEO of the place I work at. Not that big of a company, but the dude also came from money and started a company out of college--guy has never worked an actual job in his life. Has spent the last 20 years living in his own world, thinking he's god. IDGAF though and I treat him like anyone else. It slays me watching people flip their entire demeanor when he comes around. I literally couldn't care less.
A lot of people made fake businesses and scammed PPP
Damn, I missed out :/
Yes you did. They got so busy investigating pople blowing the money on BBLs and escalades while stunting on social media that anyone who was even the least bit careful got away with it scott free. Doesn't pay to be honest in today's world.
This is the truth
Absolutely, it's what every single one of these headlines has referred to since PPP loans were forgiven. And all we the workers do every time is say "we already used the $1200".
Man I should’ve timed how fast my money was gone. And hell I didn’t get mine till AFTER tax season. I Usian Bolted my money on bills. (I didn’t even pay off the total amount on the bills) Glad to hear from a CEO I actually still have some money lying around all this time.
That's just false. It's not a secret.
Or he thinks the PPP money actually went to workers. LOL.
Eat, them, all!
He assumes everyone got the same PPP sized loans that he did.
I met with a right wing (was obvious) small-ish business owner who commented on the economy and how we'd be in a better place if the government would stop giving people "that free covid money still". I shit you not, I hear this regularly....
The alternative is them having to reflect on their business practices, that's why they cling to that falsehood lol.
Are you in the mid west? I hear it often too.
Government bonds are a form of stimulus to those that already have a lot of money. Starting in 2020, there are $1,000,000,000,000 more bonds out there paying interest. That stimulus to the rich will never trickle down. The rich bought more of our lives with it. The rich whose stimulus has not ended are the Americans that jpm CEO is referring to. The $1200 x 300million people is equal to about the same amount as those bondholders will receive in the next 10 years. But their stimmy will never end.
And the US doesn’t even need to issue debt this way. The government could literally just print the money and bypass the middle man but they choose not.
The way things are going it won’t be long before this would be considered an accurate price guess.
It won’t be long before bananas cost $10 and jobs will still be paying $18 an hour.
Hey be grateful you can afford one banana with your hours wage! /s
It's the 5 dollar shake from Pulp Fiction for a new generation
JFC, his bank tellers can't even make rent.
Poor people don't count as people to these dipshits
I think they’re projecting their own circumstances.
This isn't stupidity, it's weapons-grade cynicism and an effort to trick investors (including retail investors) into believing everything is fine and that the market is stable, ripe for more investment. He's a ghoul, not an idiot.
For a smart guy, Jamie Dimond is a fucking idiot.
[удалено]
So while this is usually true with most banks, JPMorgan & Dimon were one of the few banks that got out of the subprime mortgage bubble before it burst, largely because Dimon said "this is a bad idea, we should get out." There's a reason JPMC were the ones asked to buy Bear Sterns, and why (relative to other banks) JPMC came out of the recession doing well and immediately paid back the bailout money the government gave them.
Those up and coming hundredaires. They got nickels to blow, on avocado roasted coffees and such!
Says the bank that’s still coasting of a 30$ billion bailout from 2008
This kind of disconnect is basically all the evidence we need to know that this experiment is over.
Trotting out that stimmy that's been long gone from a long time ago, eh? I don't know anyone believes this.
Burn him at the stake!
I'm more and more convinced that "the economy" means different things. My economy is grocery prices, car insurance, my 401k, how much my kids rec sports cost. Feeling like the govt represents his interests. His Economy is the stock market, dividends, million dollar bonuses, stock buy backs, minimal tax rates. Making sure the government represents his interests His economy is great. The rest of us have varying results.
I invite that bitch to find out what it's like to be poor.
I worked for a company that did work on his house. He’s apparently a massive dick in person as well. Just treats normal people like they’re subhuman. His wife is very nice though.
I see people making these claims about people still having covid money - doesn't anyone every push back and tell them that it's ridiculous?
Yeah I’m not surprised he made money from covid
I'm sure I have some change in the couch cushions that I've had since covid
He’s a windbag.
It’s one banana Michael, what could it cost? $9?
Dimon is basically an overly mannered shitpost factory.
Yeah inflation is supposed to be a couple percent per year…
Dude, Starbucks CEO from last week… https://preview.redd.it/91coanz90yyc1.jpeg?width=1155&format=pjpg&auto=webp&s=e2d6ecc4eef7785e2693ed924c3f52e820724377
as a sbux employee- laxman is a POS moron. he's running that shit into the ground micromanaging the hell out of everyone
He’s talking about his friends. Not the American people….
What drugs does JP Morgan CEO take, because we might all need some. God damn that man is way out of touch with reality.
Only the Americans he cares about are in good shape.
Wow he doesn’t know his maths
I don't have covid money.
Jamie Dimon is a financial terrorist. Fuck him and the entire .01%. They keep taking and taking and taking. We need to stop these terrorist fucks.
Being out of touch is exactly what qualifies him to be a CEO. Exploiting the masses is far easier when you don't have any awareness of the lived experience of ordinary people...or a conscience. Jamie Dimon is a particularly good example of this phenomenon.
I’m pretty sure it’s a requirement
I'm pretty sure being out of touch and clueless is a REQUIREMENT for being a CEO, OP.
How long do these morons think $600 last? Still from COVID pfft.
I mean, how much can a banana cost, Michael?
I assumed being out of touch was a requirement. How else are you supposed to callously kill people with numbers.
Some of us peons were forced to slave for society in red zones and only got the bare minimum stimulus payments, no unemployment and time off, much less raking in PPP grift. In a more civilized society.....fuck these evil morons
I think I get it. They misspoke. By saying people still have money from COVID, they actually mean that people still OWE money from COVID because they got laid off while living paycheck to paycheck and had to take on debt!
They want that money
For me, it's technically not wrong. But then again I was overseas on the governments dime for 2022, sooo.... I think I am supposed to say something stupid that only rich and privileged (I am not the first, but I am the second, though not to any great degree) people who are unaware of those aspects say here? "Grrr, I earned my money, these damn commie liberals wanting everything handed to them!" /s because without it, internet happens.
Yep
Bitch whom!? white Americans? lmdao
Some of the dumbest people I know are directors or CEOs. They have no EQ or empathy and are often parachuted into their roles
I like MorePerfectUnion but this is a dumb criticism. Jamie Dimon isn't talking about the stimulus cheque, he's talking about all the excess savings from people who were able to work throughout Covid but curtailed their spending because they weren't going on trips or hanging out in person with friends during lockdown. I think Jamie Dimon is an asshole like every billionaire but don't do a bad take when there are so many legit ones you can make. It's like the media taking the "bloodbath" comment from Trump and quoting it out of context and now he and the MAGA idiots have a legitimate gripe with the media covering him. Trump is a walking, talking "October Surprise" and it's either not enough for the media or the editors are too damn lazy to check their work before reporting. The media didn't learn a damn thing after 2016.
"Excess savings from people who were able to work throughout covid" -- First of all, what, pray tell, is "excess savings"? Would that be money that is more than we are supposed to have, being poor and all? Because last time I checked, "excess" means "more than is needed." And you know as well as I do (and this swine in the article knows too) that immediately after the worst of covid passed, they jacked up everybody's rents to an appalling amount, and instituted obscene rises in the price of food. In no way shape or form are we doing well.
>First of all, what, pray tell, is "excess savings"? Would that be money that is more than we are supposed to have, being poor and all? Because last time I checked, "excess" means "more than is needed." No, you're purposefully missing the context of "excess" I was using here: >...all the excess savings from people who were able to work throughout Covid but curtailed their spending... "Excess" as in saving more than an alternative version of themselves that didn't go into lockdown. >And you know as well as I do (and this swine in the article knows too) that immediately after the worst of covid passed, they jacked up everybody's rents to an appalling amount, and instituted obscene rises in the price of food. There is a large proportion of people in the country that have their housing costs more or less fixed (mostly Boomers and Gen X's that own their home outright and whose kids have left to live on their own) who didn't experience the same squeeze from rising prices in their budgets. Remember all that talk about a "K" shaped recovery after lockdowns? The people that were were doing well before Covid recovered a lot faster than everyone else. Mainly for the above reasons, having investments in the stock market and being in a stage of life where your spending goes down significantly. There's still a large number of people not doing well, I acknowledge and know this. Jamie Dimon is an evil mortherfucker, but he's not stupid. He doesn't say this to the press because he thinks $1200 has lasted people for 4 years. It's for the above reasons he said it. Criticize him for that.