2019-04-26 09:33:00 Fri ET
stock market competition macrofinance stock return s&p 500 financial crisis financial deregulation bank oligarchy systemic risk asset market stabilization asset price fluctuations regulation capital financial stability dodd-frank
JPMorgan Chase CEO Jamie Dimon defends capitalism in his recent annual letter to shareholders. As Dimon explains here, socialism inevitably produces stagnation, corruption, and often worse. If the government controls companies, people direct economic assets to further political interests as enormous favoritism, corruption, and other preferential treatment lead to inefficient market outcomes. Dimon admits that capitalist countries need stronger social safety nets because there are some fundamental flaws with capitalism. A good example is universal healthcare, and thus Dimon now collaborates with Jeff Bezos and Warren Buffett to pioneer a cost-effective employee healthcare program for Amazon, Berkshire, and JPMorgan.
Dimon further defends capitalism because private enterprise is the true engine of economic growth in any country. Although economic growth may widen the income gap between the rich and the poor, most high-income countries emerge with tech titans, big businesses, and successful innovators.
Dimon observes that U.S. bank regulators now have fewer policy instruments to avert the next financial crisis. Banks can maintain sufficient liquidity, credit supply, and procyclical capital in rare times of extreme financial stress. Dimon emphasizes the importance of long-run business profitability in contrast to short-run gains such as one-year stock price performance and share buyback.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2019-04-17 11:34:00 Wednesday ET

Amazon CEO Jeff Bezos admits the fact that antitrust scrutiny remains a primary imminent threat to his e-commerce business empire. In his annual letter to A
2017-11-03 06:41:00 Friday ET

Broadcom, a one-time division of Hewlett-Packard and now a semiconductor maker whose chips help power iPhone X, has announced its strategic plans to move it
2018-10-23 12:36:00 Tuesday ET

Former Fed Chair Paul Volcker releases his memoir, talks about American public governance, and worries about plutocracy in America. Volcker suggests that pu
2019-02-09 08:33:00 Saturday ET

Apple provides positive forward guidance on both revenue and profit forecasts for iPhones, iPads, and MacBooks. In the Christmas 2018 festive season, MacBoo
2019-04-03 11:35:00 Wednesday ET

A Florida fintech group Fidelity Information Services initiates the largest $43 billion acquisition of the e-commerce payments processor Worldpay. Fidelity
2019-01-08 17:46:00 Tuesday ET

President Trump forces the Federal Reserve to normalize the current interest rate hike to signal its own monetary policy independence from the White House.