Dimon is ordinarily better-known among the many crypto group for his disrespectful statements about Bitcoin (BTC). In September 2019, Dimon better-known as Bitcoin “a fraud” proper earlier than its historic peak. On one other event he stated:
“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.”
Dimon praises the stimulation bundle yet criticizes the federal government
In the annual letter to JPMorgan shareholders, Dimon goes on to reward the federal regime and the Federal Reserve on its immediate response to the present commercial enterprise disaster:
“We spat the speed with which the federal government and the Federal Reserve (the Fed), too as other central Banks around the world, put together a stimulation package and other funding benefits to help individuals, businesses, and state and local entities crosswise the United States and beyond.”
At the identical time, Dimon criticizes the federal government for lack of a “pandemic playbook” and its basic unpreparedness for the disaster:
“There should have been a pandemic playbook. Likewise, every problem I noted above should have detailed and nonpartisan solutions. As we have seen in past crises of this magnitude, there will come a time when we will look back and it will be clear how we – in the to the worst degree levels of society, government, business, health care systems, and civic and humanitarian organizations – could have been and will be better prepared to face emergencies of this scale.”
The Great Recession other time?
Dimon furthermore declares that JPMorgan is working at a lower place the notion that the forthcoming recession power be at to the worst degree as unhealthy because the Great Recession of 2008:
“…we don’t know exactly what the future will hold – but at a minimum, we assume that it will let in a bad recession combined with some kinda commercial enterprise stress similar to the global commercial enterprise crisis of 2008”.
Although Dimon could be erroneous on Bitcoin, he is aware of a factor or two concerning the economic system. Should his prediction concerning the close commercial enterprise disaster come true, Bitcoin could turn resolute be extra piquant than ever earlier than.