Jamie Dimon wishes Sapphire Reserve cost JPM $400MM

[ExGingi]

Some how it is always his fault except when he turns around the market, unemployment, housing market among other things.

Those too are his fault. Rather than creating a sound economy, turning the crisis into some creative destruction, all that was done was bubble reflation, and financial oppression of savers.

I will give him 100% credit for the Making Home Affordable plan. I know many people that benefited from it, and banks arms were rightfully twisted.

[hvaces42]

Those too are his fault. Rather than creating a sound economy, turning the crisis into some creative destruction, all that was done was bubble reflation, and financial oppression of savers.

I will give him 100% credit for the Making Home Affordable plan. I know many people that benefited from it, and banks arms were rightfully twisted.

The Making Home Affordable Act, HAMP etc were all a bandage which kicked the can down the road. Most who were in foreclosure and did modifications will ultimately fail when the balloon payments come due.

[yuneeq]

Some how it is always his fault except when he turns around the market, unemployment, housing market among other things.

I don't think the employment issue has been solved, in fact there are many concerning statistics, like the labor force participation rate at it's lowest since the 70's (http://www.tradingeconomics.com/united-states/labor-force-participation-rate). Also since 2008, a higher percentage of American workers are actually underemployed, though it has been going down recently (https://www.washingtonpost.com/posteverything/wp/2016/04/05/low-unemployment-check-low-underemployment-not-check/).

So while you might see a pretty unemployment rate % in the news, any economist realizes that there's much more (ugly) data to look at under the surface.

[JTZ]

So while you might see a pretty unemployment rate % in the news, any economist realizes that there's much more (ugly) data to look at under the surface.

You can and they will always play with the numbers. That's why I have goalposts and I don't move them.

[aygart]

You can and they will always play with the numbers. That's why I have goalposts and I don't move them.

Just make sure they are on the right playing field and that their placement makes real sense.

[JTZ]

Just make sure they are on the right playing field and that their placement makes real sense.

You mean like the market being up over 100% but the underlying factors say it is in terrible shape. 

[aygart]

You mean like the market being up over 100% but the underlying factors say it is in terrible shape. 

That would tell you that the market is up due to things such as excess liquidity.

[JTZ]

That would tell you that the market is up due to things such as excess liquidity.

You can come with any reason you want but the fact is my and millions of average American's 401k's went through the roof.

[aygart]

You can come with any reason you want but the fact is my and millions of average American's 401k's went through the roof.

We blame George W Bush

[yuneeq]

You can and they will always play with the numbers. That's why I have goalposts and I don't move them.

I didn't see any goal posts that I moved. You simply said that employment is doing great, and I'm telling you that the numbers speak for themselves. I guess you're okay with the lowest labor force participation rate in 40+ years, stagnant wage growth,  and the too many people that are underemployed. Let me ask you because you've been around longer- do you feel that the job market is booming?

[JTZ]

Let me ask you because you've been around longer- do you feel that the job market is booming?

We both been around for the last eight years. The job market is a lot better now than eight years ago.

[yuneeq]

We both been around for the last eight years. The job market is a lot better now than eight years ago.

Feels better than before the crash?
I would say no.
Though it definitely feels better now than after the crash.

[JTZ]

Feels better than before the crash?
I would say no.
Though it definitely feels better now than after the crash.

I thought we were discussing unemployment during Obamas eight years, no?

[David Smith]

Bush also had a market crash at the beginning of his presidency, yet the market built back up and there was a period of prosperity. Obama never had a comparable period.

[JTZ]

Bush also had a market crash at the beginning of his presidency, yet the market built back up and there was a period of prosperity. Obama never had a comparable period.

Goalposts - Market down 46% during his time.