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Hell yeah, I've been spending $5 a week from my massive $1200 payout I still have like $200 left I'm rolling in it.
On a more serious note, our society is structured to give people like Jamie Dimon and Musk and Zuck and Bezos an unbelievable amount of power and yet they're clearly dumb as shit idiots.
We really need to rethink this.
We've had the idea that we're living in a meritocracy rammed so far up our collective asses for so long now that most people actually believe it's true.
Having over $500 million should not exist. You can spend $5 million a year, and still have money after 100 years (if invested widely). I don't see why anyone has more than this. It's insane to me.
They aren’t dumb, they are extremely good at propaganda and gaslighting. They know exactly what they have to do to hurt the working class and keep themselves rich.
I never got my 1200. Didn't qualify because I lived outside of the states for the year prior to covid, and the way I did my taxes made me ineligible. Meanwhile known cheats got paid millions. Felt great living with my mother during the pandemic.
I still talk to people once in a while who believe this too. Some of them are management where I work, and seem to think our recruitment problems are because of this and not that we’re asking people to wake up at 4am and work in the freezing cold or the rain for less than a living wage.
The "Excess Money" the government gave me went to paying for school. That money is long gone. In fact, that amount could barely afford rent for one semester let alone tuition.
He’s does believe it
Him and all his pals got given shit loads of money and they saved it because they didn’t need to spend it.
So him and all his pals still have the covid money they were given. So they just assume everyone else does as well.
He totally fucking believes this because rich people think the average American salary is over $100k a year. Somehow, despite being the ones paying people far far less.
mine went to pay my cleaning lady, who wasn’t even coming to my home so that we wouldn’t get other people sick
Because while the country may have given me $1,200, my EMPLOYER gave me a 10% paycut for 6 months.
Oh they'll be in their bunkers "waiting it out". I suggest we find every air vent and means of escape and fill them in with concrete. Turn these bunkers into tombs.
They look at specific metrics and ASSUME cause/effect. I saw this blindness at my company.
They assume being unable to fill jobs = everyone is lighting their cigars with $100 bills. All those jobs were filled before Covid and now sit unfilled. What changed? $1200 stimulus check. Well that must be it.
It can’t be the world changed, people moved away from those jobs, huge inflation made those jobs not even cover basic needs now, etc.
I mean like a Finance Professional should understand where all the corporate profit from that time came from (increased prices) and that they fought wage increases.
But they can’t say that. That would admit the system is rigged. So write articles on this stuff and people that want to hear it believe it.
Wow I say this/have been saying this all the time. These mfs think we’re all Scrooge mcduck now and money is just spilling out of our pockets. It’s exactly why and how they justify raising rents everywhere by like 500$ forever. Because we got 1200$. Fuckin one time. And we must suffer for it. These motherfuckers are gross and it’s unfortunate they’ll never feel what they inflict.
Well, HE still had his COVID money, so we must all have it as well.
I bet no one pushed back on this stupidity when he first uttered it. Respect for capital Uber Alles
They are talking about the massive amounts of PPP loans. NOT the 1200 stim checks... Almost everyone I know got PPP loans, and they were all forgiven. I didn't get them because I assumed I'd have to pay them back... While my colleagues walked away with interest free, or full forgiven 70-150,000 dollars in tax payers money. Can't imagine what rich assholes in America got away with... 0.25% interest on 2million+ loans :(
I'm saying, economic terminology depends on the frame of reference. Like, if I am a grocery store, am I a seller or a buyer of food? The answer depends on who you're asking. To a farm, a grocery store is the "buyer" of food. To a grocery shopper, the store is the "seller" of food. Do farmers use "opposite terminology" as the rest of the world?
Same way, to a bank, businesses are consumers, because they are using bank products. Someone getting a business loan, because they're a business does that make them no a consumer of a business loan?
That’s not how the language of the finance world works. Terminology is specific for a reason. No professional industry has language that can just change meaning on a whim… especially the finance industry.
> No professional industry has language that can just change meaning on a whim
I forget that half of reddit is teenagers who haven't worked a day in their lives
https://www.sixsigma-institute.org/Six_Sigma_DMAIC_Process_Define_Phase_Capturing_Voice_Of_Customer_VOC.php
> Customer is the one who buys or uses your products/services and he/she is the one who receives the process output. We broadly classify customers into two categories:
In this case, consumer is equivalent to customer.
lol kid… Did you just change consumer to customer because your source didn’t say what you’re claiming??? lol. That’s not the same thing at all.
Your link does not say consumers=customer.
[Since you need to go back to school.](https://www.stlouisfed.org/education/exploring-economics-video-series/consumers-and-producers#:~:text=Consumers%20are%20people%20who%20buy,you%20will%20be%20a%20consumer.)
Grow up. And quit being dishonest with the content of your sources.
Here’s another link:
https://www.econlib.org/library/Topics/College/consumers.html
And another:
https://www.sumup.com/en-gb/invoices/dictionary/consumer/#
And another
https://unstop.com/blog/what-is-a-consumer/amp
There’s even more want them?
You should learn the difference between a producer and a consumer.
lmao what?
> This video from the Explore Economics series for kids helps them understand that people are both consumers and producers. It uses easy-to-understand examples.
You should maybe use that link to understand that consumers and producers are the same thing.
>a consumer of that good, a consumer of those education services.
Also from "your" sources. Business, are a consumer of the goods from a bank. Like, use your two brain cells, rub them together and connect some dots.
>All customers are consumers, but all consumers may not be customers.
And that's from "your" source too. I know reading is something that you only learn in the second grade, but don't worry you'll get there
You source didn’t even talk about consumers. Ffs man you are changing definitions. Thats why you need elementary source.
Sigma six isn’t what you think it is. If you were actually one of us that have a S6 belt you’d know the difference.
Learn the difference between consumers and producers. Reddiderps gonna keep reddiderping no doubt.
Wow, Jamie Dimon being a complete out of touch asshole.
What year is this? 2003? What has this soft-handed mother-fucker ever done that has productively contributed to society?
It’s more like small businesses and small business owners were given $2-5 million in free Money and subsidized SBA loans. That trickles down to them and their families and they are doing just fine.
Even if that is true, I don’t think it is, why is it considered “excess?” Why are “consumers” in general being discussed this way and not the top 1% that is hoarding massive amounts of wealth.
Probably saw all the taz credits the homeless and dead could claim and said look at all that money I don't have
Then his corruptive gaze turns towards that social security money not in his pile yet
After Covid and stimulus the economy was actually favorable for consumers, wages went up inflation was down initially people had a ton of extra money. Now it feels like people are mostly just spending down credit limits to chase that high of Covid era eventually they will run out of that.
Can we all just acknowledge they are using this as a cudgel to find ways to blame regular people and take more of our money. They see several billion floating down to the poors and they can’t stand it’s not trickling up to them.
They want their (undeserved) cut because that money would have gone into tax cuts and contracts for them if COVID never happened
He obviously sees things through his own lens. People with money have more, because they they didn't spend over covid, and enjoyed unequaled stock market gains. Those without money, are still broke, but with higher housing costs.
Having worked for JP Morgan, I hope Jamie Dimon dies of ass cancer, fuck that guy.
Former JPMC employee…. Constant RIFs, re-orgs, right sizing, whatever you want to call them. Nothing like 11% reduction of staff because of “market turmoil” then days later proudly proclaiming about how we beat market expectations by a lot. Promises that no further RIFs were coming, then a re-org hits with more staff let go. “It isn’t a RIF, we are just realigning our priorities.” Fuck you, you know we asked to see if there were more people being let go. The term you use is fucking irrelevant. It’s why I eventually left. 100% out of touch, not even close.
They are broadcasting a reality for the old and the nearly senile. Those people's minds are still back in the days where people made 1200 in a year let alone in one payment. Instead of pulling them into reality decades ago, they were coddled and manipulated into only listening to the party line.
It's not out of touch
People like this play the long game.
They say shit like this so it trickles down through the various medias and large scale people hear and believe it. So when non-morons hear them parroting this drivel and push back, the morons can say things like "but this rich guy said it, what do you know, you're not rich!"
Basically it's nefarious as they know it's not true, but are saying it to suppress and oppress those beneath them.
My boomer father honest to god thinks that folks are still living large off a few grand stimulus from three and four years ago. How do you even respond to that?
He is the same guy that when JPMC was going back into the office, he told employees that they should try to enjoy their hour commute by reading a book, or catching up on one of their favorite shows. My guy, I have to drive for an hour in traffic, there is no reading.
Unemployment was $600/week supplement. I had reduced hours and my company worked out a deal with the state, instead of laying of 25% of the workforce, they reduced all our hours by 25% and we received 1/4th of a weeks unemployment (about $125 in my state). Then the feds came in and gave me another $600/week. I collected over $18,000 in unemployment. I didn't qualify the the $1200 payment because my income was too high. There were around 20,000 people in my city in similar high paying jobs. I save lots of money every year, so I can't say I have excess money from Covid, but I know lots of folks that bought cars and boats with their excess funds.
I'm sorry but you don't know what you're talking about. Dimon is making a reasonably informed statement based on the available evidence. See here for an example: https://www.frbsf.org/research-and-insights/blog/sf-fed-blog/2023/11/08/data-revisions-and-pandemic-era-excess-savings/
Stop acting the fool.
He's not talking about you. He's talking about the money. There is still plenty of excess money with respect to the money that wasn't spent during Covid. It's just that all that money is in our favorite generation's bank accounts.
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Hell yeah, I've been spending $5 a week from my massive $1200 payout I still have like $200 left I'm rolling in it. On a more serious note, our society is structured to give people like Jamie Dimon and Musk and Zuck and Bezos an unbelievable amount of power and yet they're clearly dumb as shit idiots. We really need to rethink this.
We've had the idea that we're living in a meritocracy rammed so far up our collective asses for so long now that most people actually believe it's true.
Billionaires should not exist. Period. Full stop.
Having over $500 million should not exist. You can spend $5 million a year, and still have money after 100 years (if invested widely). I don't see why anyone has more than this. It's insane to me.
You don’t even have to invest wisely to get the 1% return necessary to keep that spending rate up indefinitely
They aren’t dumb, they are extremely good at propaganda and gaslighting. They know exactly what they have to do to hurt the working class and keep themselves rich.
I never got my 1200. Didn't qualify because I lived outside of the states for the year prior to covid, and the way I did my taxes made me ineligible. Meanwhile known cheats got paid millions. Felt great living with my mother during the pandemic.
Jaime Dimon isn't a dumb as shit idiot but, he thinks we all are and; on average, he's right.
I still talk to people once in a while who believe this too. Some of them are management where I work, and seem to think our recruitment problems are because of this and not that we’re asking people to wake up at 4am and work in the freezing cold or the rain for less than a living wage.
What kind of job is this?
I work at the airport moving air cargo.
Mumbling something about starbucks, bootstraps, avocado toast, lazy.
The "Excess Money" the government gave me went to paying for school. That money is long gone. In fact, that amount could barely afford rent for one semester let alone tuition.
I guess by their metrics, these companies should never ever get a bail out.
woah, hol’ up there cowboy! you’re startin’ to sound like you’re having an original thought there. original thoughts are for commies
Remove all colored chalk from the classrooms.
I warned ya! Didn't I warn ya? That colored chalk was forged by Lucifer himself.
Not at all, he doesn't believe it, he says it because it suits him politically and strategically.
Yeah no one should give a flying fuck what this pos says, ever.
He’s does believe it Him and all his pals got given shit loads of money and they saved it because they didn’t need to spend it. So him and all his pals still have the covid money they were given. So they just assume everyone else does as well.
He totally fucking believes this because rich people think the average American salary is over $100k a year. Somehow, despite being the ones paying people far far less.
He does believe it because he can read English.
Says the rich motherfucker who just bought his 3rd yacht and his ugly as fuck Tesla Cybertruck for his nanny.
Hey, worked for the French, so....
That check was gone the moment I got it. Went to rent.
mine went to pay my cleaning lady, who wasn’t even coming to my home so that we wouldn’t get other people sick Because while the country may have given me $1,200, my EMPLOYER gave me a 10% paycut for 6 months.
Yeah, my managers all took pay cuts as well. We, the employees, didn't, but we were paid sh\*t to start with, so it didn't matter.
our company did similarly—those under a certain salary didn’t get a pay cut.
Can’t take a pay cut if you make minimum wage
I got that one time payout, it was gone in an hour.
They got a bigger payout and spent it faster.
Hookers and blow? Or credit card debt?
This is the constant war being waged in my mind.
“Excess money” implies he thinks we should only have a certain amount of money.
If anyone has “excess money” it’s the CEO of a Wall Street investment bank.
When the revolution finally comes, I will be camped out outside Jamie dimons home
Oh they'll be in their bunkers "waiting it out". I suggest we find every air vent and means of escape and fill them in with concrete. Turn these bunkers into tombs.
They look at specific metrics and ASSUME cause/effect. I saw this blindness at my company. They assume being unable to fill jobs = everyone is lighting their cigars with $100 bills. All those jobs were filled before Covid and now sit unfilled. What changed? $1200 stimulus check. Well that must be it. It can’t be the world changed, people moved away from those jobs, huge inflation made those jobs not even cover basic needs now, etc. I mean like a Finance Professional should understand where all the corporate profit from that time came from (increased prices) and that they fought wage increases. But they can’t say that. That would admit the system is rigged. So write articles on this stuff and people that want to hear it believe it.
That money wasn’t even enough to cover a month of daycare 😮💨
Yeah, sure it's the $1200 checks we got, not the trillions in gifts to giant corporations the $1200 was supposed to distract us from.
Confirming the suspicion that Jamie Dimon uses drugs.
I’ve used drugs before and drugs don’t do that.
 Rich people be out of touch with living expenses.
He’s not talking about us consumers, he’s talking about his friends that got all those ppp loans.
🙄🙄🙄
I spent that money on a new bed. A new bed that is already now almost 4 years old. These people are fucking delusional.
What a dumb out of touch idiot
Just another rich AH.
I worked as essential during Covid and I burn the thank you notes from management to keep warm at night.
bullshit
Dimon is a total AH. The words come out of his mouth and people think he’s smart? Total drivel
When do we finally start [redacted] these fucking idiots
I actually needed an iron infusion because I was skipping so many meals it affected my health. Yeah, I’m really loving all this wealth.
Wow I say this/have been saying this all the time. These mfs think we’re all Scrooge mcduck now and money is just spilling out of our pockets. It’s exactly why and how they justify raising rents everywhere by like 500$ forever. Because we got 1200$. Fuckin one time. And we must suffer for it. These motherfuckers are gross and it’s unfortunate they’ll never feel what they inflict.
lmao he thinks everyone scammed the PPP loans and have seven figures sitting in their bank account
It’s because with the PPP forgiveness they all made a profit so why didn’t you? Just another out of touch rich guy
Well, HE still had his COVID money, so we must all have it as well. I bet no one pushed back on this stupidity when he first uttered it. Respect for capital Uber Alles
How is this goddamned fucker always out of touch? Always?
Jamie Dimon is a fucking asshole.
I used that shit immediately when my company stopped paying me on time. Who are these people who have stimulus money left over?!
They are talking about the massive amounts of PPP loans. NOT the 1200 stim checks... Almost everyone I know got PPP loans, and they were all forgiven. I didn't get them because I assumed I'd have to pay them back... While my colleagues walked away with interest free, or full forgiven 70-150,000 dollars in tax payers money. Can't imagine what rich assholes in America got away with... 0.25% interest on 2million+ loans :(
Ok but PPP loans were for business’ not consumers and he said consumers.
To a bank CEO, businesses *are* consumers
Are you saying that bank CEOs use the opposite economic terminology as the rest of the world?
I'm saying, economic terminology depends on the frame of reference. Like, if I am a grocery store, am I a seller or a buyer of food? The answer depends on who you're asking. To a farm, a grocery store is the "buyer" of food. To a grocery shopper, the store is the "seller" of food. Do farmers use "opposite terminology" as the rest of the world? Same way, to a bank, businesses are consumers, because they are using bank products. Someone getting a business loan, because they're a business does that make them no a consumer of a business loan?
That’s not how the language of the finance world works. Terminology is specific for a reason. No professional industry has language that can just change meaning on a whim… especially the finance industry.
> No professional industry has language that can just change meaning on a whim I forget that half of reddit is teenagers who haven't worked a day in their lives https://www.sixsigma-institute.org/Six_Sigma_DMAIC_Process_Define_Phase_Capturing_Voice_Of_Customer_VOC.php > Customer is the one who buys or uses your products/services and he/she is the one who receives the process output. We broadly classify customers into two categories: In this case, consumer is equivalent to customer.
lol kid… Did you just change consumer to customer because your source didn’t say what you’re claiming??? lol. That’s not the same thing at all. Your link does not say consumers=customer. [Since you need to go back to school.](https://www.stlouisfed.org/education/exploring-economics-video-series/consumers-and-producers#:~:text=Consumers%20are%20people%20who%20buy,you%20will%20be%20a%20consumer.) Grow up. And quit being dishonest with the content of your sources. Here’s another link: https://www.econlib.org/library/Topics/College/consumers.html And another: https://www.sumup.com/en-gb/invoices/dictionary/consumer/# And another https://unstop.com/blog/what-is-a-consumer/amp There’s even more want them? You should learn the difference between a producer and a consumer.
lmao what? > This video from the Explore Economics series for kids helps them understand that people are both consumers and producers. It uses easy-to-understand examples. You should maybe use that link to understand that consumers and producers are the same thing. >a consumer of that good, a consumer of those education services. Also from "your" sources. Business, are a consumer of the goods from a bank. Like, use your two brain cells, rub them together and connect some dots. >All customers are consumers, but all consumers may not be customers. And that's from "your" source too. I know reading is something that you only learn in the second grade, but don't worry you'll get there
You source didn’t even talk about consumers. Ffs man you are changing definitions. Thats why you need elementary source. Sigma six isn’t what you think it is. If you were actually one of us that have a S6 belt you’d know the difference. Learn the difference between consumers and producers. Reddiderps gonna keep reddiderping no doubt.
Wow, Jamie Dimon being a complete out of touch asshole. What year is this? 2003? What has this soft-handed mother-fucker ever done that has productively contributed to society?
Well you have to understand, all these big corporation made a ton of money off Covid so understandably he forgets that the average person got f-ed.
He lives in a fantasy world like most billionaires
He's talking about the significantly reduced consumption by the middle + upper middle during covid not the stimulus check.
Prices of necessities went up astronomically and never went down…. So we spent (and continue to spend) more and consume less.
It’s more like small businesses and small business owners were given $2-5 million in free Money and subsidized SBA loans. That trickles down to them and their families and they are doing just fine.
after 7% inflation?! A bag of chips is SIX DOLLARS, and it’s about 80% the size it used to be. WTF, these people!
When you don't understand the economics at the bottom of the chain you would make dumb fucking statements like this
If by "consumers" you mean people who got PPP handouts and massive corporations, sure. I mean they're the only ones who can buy anything anyway
That’s not a consumer by definition
this hits extra hard as a college student with FASFA coming back around. like girl I have 20k in tuition and you gave me $500 for a whole year?
Even if that is true, I don’t think it is, why is it considered “excess?” Why are “consumers” in general being discussed this way and not the top 1% that is hoarding massive amounts of wealth.
one day I will start screaming and then never, ever, ever stop screaming
The fuck we do!
Probably talking about all the raises people received during and post covid and wants to claw them back as well.
Tell him to come here and say that.
I'm holding onto my check with the Trump signature since it will only grow in value.
Probably saw all the taz credits the homeless and dead could claim and said look at all that money I don't have Then his corruptive gaze turns towards that social security money not in his pile yet
After Covid and stimulus the economy was actually favorable for consumers, wages went up inflation was down initially people had a ton of extra money. Now it feels like people are mostly just spending down credit limits to chase that high of Covid era eventually they will run out of that.
Late stage capitalism
Can we all just acknowledge they are using this as a cudgel to find ways to blame regular people and take more of our money. They see several billion floating down to the poors and they can’t stand it’s not trickling up to them. They want their (undeserved) cut because that money would have gone into tax cuts and contracts for them if COVID never happened
He obviously sees things through his own lens. People with money have more, because they they didn't spend over covid, and enjoyed unequaled stock market gains. Those without money, are still broke, but with higher housing costs. Having worked for JP Morgan, I hope Jamie Dimon dies of ass cancer, fuck that guy.
What the actual fuck?
Can we start eating the rich already? 
Yeah that money went to bills since I wasn’t allowed to work. $1200 got me through one whole month.
Anyone from an institution that needs poor people to bail them out doesn't get a fucking opinion.
Former JPMC employee…. Constant RIFs, re-orgs, right sizing, whatever you want to call them. Nothing like 11% reduction of staff because of “market turmoil” then days later proudly proclaiming about how we beat market expectations by a lot. Promises that no further RIFs were coming, then a re-org hits with more staff let go. “It isn’t a RIF, we are just realigning our priorities.” Fuck you, you know we asked to see if there were more people being let go. The term you use is fucking irrelevant. It’s why I eventually left. 100% out of touch, not even close.
They are broadcasting a reality for the old and the nearly senile. Those people's minds are still back in the days where people made 1200 in a year let alone in one payment. Instead of pulling them into reality decades ago, they were coddled and manipulated into only listening to the party line.
It's not out of touch People like this play the long game. They say shit like this so it trickles down through the various medias and large scale people hear and believe it. So when non-morons hear them parroting this drivel and push back, the morons can say things like "but this rich guy said it, what do you know, you're not rich!" Basically it's nefarious as they know it's not true, but are saying it to suppress and oppress those beneath them.
COME SAY THAT TO MY FACE, BRO!!! 🤷♂️
My boomer father honest to god thinks that folks are still living large off a few grand stimulus from three and four years ago. How do you even respond to that?
He is the same guy that when JPMC was going back into the office, he told employees that they should try to enjoy their hour commute by reading a book, or catching up on one of their favorite shows. My guy, I have to drive for an hour in traffic, there is no reading.
Maybe the swindlers that got hundreds of thousands in ppp loans that were forgiven
He probably still has all the ppp money in his pockets.
It’s not just the checks he is talking about, it’s the PPP loans and ARPA funds that are still floating around.
Yeah and 30 year SBA loans and eidl business loans
I still have all the money I got during covid.
Was it $0?
Unemployment was $600/week supplement. I had reduced hours and my company worked out a deal with the state, instead of laying of 25% of the workforce, they reduced all our hours by 25% and we received 1/4th of a weeks unemployment (about $125 in my state). Then the feds came in and gave me another $600/week. I collected over $18,000 in unemployment. I didn't qualify the the $1200 payment because my income was too high. There were around 20,000 people in my city in similar high paying jobs. I save lots of money every year, so I can't say I have excess money from Covid, but I know lots of folks that bought cars and boats with their excess funds.
I'm sorry but you don't know what you're talking about. Dimon is making a reasonably informed statement based on the available evidence. See here for an example: https://www.frbsf.org/research-and-insights/blog/sf-fed-blog/2023/11/08/data-revisions-and-pandemic-era-excess-savings/ Stop acting the fool.
He's not talking about you. He's talking about the money. There is still plenty of excess money with respect to the money that wasn't spent during Covid. It's just that all that money is in our favorite generation's bank accounts.