On Wednesday, JPMorgan CEO Jamie Dimon joined CNBC's Andrew Ross Sorkin to discuss the global risks facing the American economy and the potential ramifications of the upcoming 2024 election. During the segment, Dimon explained that the Democrats are hurting themselves by demonizing MAGA supporters.
The CNBC host asked Dimon whether he thinks the economy will impact the upcoming presidential election when the economy is at the top of millions of Americans' minds. The JP Morgan CEO agreed with Sorkin, explaining that the economy, along with various other global threats, will have a drastic impact on its direction in the coming year.
"Yes, I agree with that. I think it is a mistake to assume everything is hunky dory. And when stock markets are up, it's kinda like this little drug we all feel, like it's just great. But remember, we have had so much fiscal and monetary stimulation, so I am a little more on the cautious side, knowing that we are facing a lot of things in 2024 or 2025. You mentioned Ukraine, the terrorist activity, Israel, the Red Sea, quantitative tightening," Dimon said. "And then the Ukrainian war is affecting oil, gas, food, migration. So you have all of these very powerful forces that are going to be affecting us in '24 and '25, so if I was the government, I would be worried about what I'm going to do about that."
Dimon then took a swipe at Democrats, explaining that their continued misunderstanding of what was driving the America First movement would eventually be their downfall. "And I just want to point out, I wish the Democrats would think a little more carefully when they talk about MAGA," the billionaire continued. "People are growing. They are hungry to grow. They are innovating. It is everywhere, and it's not just Silicon Valley. So we've got this great hand, but when people say MAGA, they are actually looking at people voting for Trump, and they are basically scapegoating him, that you are like him. But I don't think they are voting for Trump because of his family values. Just take a step back and be honest. He was kind of right about NATO. He was kind of right about immigration. He grew the economy quite well. Tax reform worked. He was right about some of China."
"I don't like how Trump said things about Mexico, but he wasn't wrong about those critical issues. That's why they're voting for him. People should be more respectful of our fellow citizens, and when you guys have people up here, you should always ask the why, not like it's a binary thing," he continued. "The Democrats have done a pretty good job [at hating 75 million Americans] with the deplorables, hugging onto their Bibles and their beer and their guns. I mean, really, can we just stop that stuff and actually grow up and treat others with respect and listen? I think this negative talk about MAGA will hurt Biden's campaign."
WATCH:
The CNBC host asked Dimon whether he thinks the economy will impact the upcoming presidential election when the economy is at the top of millions of Americans' minds. The JP Morgan CEO agreed with Sorkin, explaining that the economy, along with various other global threats, will have a drastic impact on its direction in the coming year.
"Yes, I agree with that. I think it is a mistake to assume everything is hunky dory. And when stock markets are up, it's kinda like this little drug we all feel, like it's just great. But remember, we have had so much fiscal and monetary stimulation, so I am a little more on the cautious side, knowing that we are facing a lot of things in 2024 or 2025. You mentioned Ukraine, the terrorist activity, Israel, the Red Sea, quantitative tightening," Dimon said. "And then the Ukrainian war is affecting oil, gas, food, migration. So you have all of these very powerful forces that are going to be affecting us in '24 and '25, so if I was the government, I would be worried about what I'm going to do about that."
Dimon then took a swipe at Democrats, explaining that their continued misunderstanding of what was driving the America First movement would eventually be their downfall. "And I just want to point out, I wish the Democrats would think a little more carefully when they talk about MAGA," the billionaire continued. "People are growing. They are hungry to grow. They are innovating. It is everywhere, and it's not just Silicon Valley. So we've got this great hand, but when people say MAGA, they are actually looking at people voting for Trump, and they are basically scapegoating him, that you are like him. But I don't think they are voting for Trump because of his family values. Just take a step back and be honest. He was kind of right about NATO. He was kind of right about immigration. He grew the economy quite well. Tax reform worked. He was right about some of China."
"I don't like how Trump said things about Mexico, but he wasn't wrong about those critical issues. That's why they're voting for him. People should be more respectful of our fellow citizens, and when you guys have people up here, you should always ask the why, not like it's a binary thing," he continued. "The Democrats have done a pretty good job [at hating 75 million Americans] with the deplorables, hugging onto their Bibles and their beer and their guns. I mean, really, can we just stop that stuff and actually grow up and treat others with respect and listen? I think this negative talk about MAGA will hurt Biden's campaign."
WATCH:
I did not think we’d see Jamie Dimon defending MAGA but here we are. 😳 pic.twitter.com/cDXJWDLRyk
— Robby Starbuck (@robbystarbuck) January 17, 2024
You can follow Sterling on X/Twitter here.
- Article Source:
DC Enquirer
- Photo: Mark Wilson / Getty Images
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