$JPM's Jamie Dimon on bitcoin: "I'll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don't know, I've always been a skeptic of stuff like that."
Jamie Dimon sticking to his guns on #Bitcoin, tho his @jpmorgan wealth management & research analysts disagree. He'll probably be asked about this on his deathbed in the year 2061 👇 www.cnbc.com/2021/10/11/jamie-dimon-calls-bitcoin-worthless-but-compares-it-to-cigarettes-and-concedes-clients-want-it.html
“If we’re going to raise taxes, it should be on the wealthy, not on capital formation,” Jamie Dimon tells @IIF @jpmorgan #taxes
JP Morgan's Jamie Dimon tells President Biden on debt limit: "There are huge economic costs already being borne by companies and lawyers trying to figure out what this means"
11 October, 2021 - 01:20pm
"I should never do this, but I'll make a forecast," Dimon said at a conference held by the Institute of International Finance. "This will not be an issue next year at all. This is the worst part of it, I think great market systems will adjust for it like companies have."
The pandemic has laid bare how interconnected global supply systems are. For instance, a shortage of semiconductor chips has hampered manufacturers of cars and electronics. A dearth of willing workers has resulted in container ships idling at major ports and delays in shipping goods to retailers.
While some experts believe some pain will continue through 2023, Dimon has a rosier view. He said Monday that he believes the economy is set up for growth over the next few years. Part of that is because the strength of the consumer, he said.
"Keep in mind, the consumer's buying other stuff," Dimon said. "They can't buy cars, they're buying home improvement; they can't travel internationally, they travel domestically. The spend level is very high."
"Because of the strength of the consumer, which is extraordinary, they're spending 20% more than they were spending pre-Covid," he added. "And companies are in great shape, they can continue to spend at these levels for a long time."
Supply chain disruptions may end up merely elongating the recovery rather than derailing it, Dimon said.
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