related posts
108 sats \ 4 replies \ @grayruby 15 May
While a fine message, it is assured that Jamie isn't doing this out of the goodness of his heart or some greater sense of nobility and patriotism. JPM holds a lot of US gov debt.
I guess the real game theory plays out when all these big wall street guys realize it ain't going to happen and we have a margin call (movie) rush to the exits.
reply
60 sats \ 3 replies \ @siggy47 OP 15 May
No doubt. He also relishes his role as a royal prince bestowing his wisdom on his inferior subjects.
reply
54 sats \ 2 replies \ @grayruby 15 May
I think all these guys know everything is fucked but they need to play the game and drag the fiat system along for as long as they can.
To me, when it comes to the fiscal/monetary situation there are three sets of people:
a) those that have no clue everything is broken
b) those that know everything is broken and are doing something about it (bitcoiners would fall into this category)
c) those who know everything is broken but are furiously trying to plug holes in the leaky boat because they are perversely incentivized to keep it afloat.
reply
50 sats \ 1 reply \ @siggy47 OP 15 May
Most in government (ie Jared Bernstein) fall into category a. All of Wall Street is category c
reply
54 sats \ 0 replies \ @grayruby 15 May
Sounds about right.
reply
56 sats \ 0 replies \ @Coinsreporter 15 May
What if they only wanted to wait! They wil be more busy in election campaigns and won't pay too much attention at def. because they believe it can be managed later on but elections are priority now.
reply