tag:blogger.com,1999:blog-8078379512095504946.post24009699941004517..comments2024-03-29T04:06:37.402-07:00Comments on Had Enough Therapy?: A Few Words from Jamie DimonStuart Schneidermanhttp://www.blogger.com/profile/12784043736879991769noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-8078379512095504946.post-60675382147422588192017-07-15T15:53:42.100-07:002017-07-15T15:53:42.100-07:00Jamie, put your money where your mouth is.Jamie, put your money where your mouth is.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-61712105251979289102017-07-15T12:29:18.671-07:002017-07-15T12:29:18.671-07:00Certainly if the republicans accomplish anything b...Certainly if the republicans accomplish anything before the 2018 elections it will be reduced corporate tax rates. We do assume its only been democrats blocking that. And this will help smaller business more than larger ones, since the larger (and international) ones have already found loopholes to avoid paying taxes.<br /><br />But whether this will spur new growth, it seems a laughable excuse. And any sort of growth that seems possible now-a-days seems to be to outsource or automate human labor, and lowering corporate tax rates merely reward those who are rich enough to own stocks. And we presume the publicans also want to lower individual top tax rates as well.<br /><br />The problem that I accept is that if you subtract debt growth from economic growth, we're in a net decline, and we've been here for a while, especially if you accept nearly ever asset is overvalued. And when the newest post-2008 bubbles pop, imaginary wealth disappears, while debt remains.<br /><br />Interestingly Trump's Steel tariff threat is helping the domestic steel companies, which is surely helping to threaten new trade wars which will reduce the U.S. access to cheap imports.<br />http://money.cnn.com/2017/07/13/news/economy/trump-steel-stocks/index.html<br /><br />I do have to imagine protectionism has to the be in the future, not that its going to raise our GDP, or lower our debts, or even necessarily improve the labor force participation rate. Rather it'll raise inflation, and make it more difficult for everyone to repay the debts they've accumulated, and a new economic crisis will come up and the first "too big to fail" bankruptcies will be bailed out, until we find out that doesn't work, and then global trade will collapse on its own.<br /><br />So it all sounds bad, but you imagine people like Dimon and J. P. Morgan are already prepared their escape plans. They would just prefer taxes be lowered for the final years to help get their profits out of harm's way.<br />Ares Olympushttps://www.blogger.com/profile/09726811306826601686noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-73763971382593803642017-07-15T10:06:00.953-07:002017-07-15T10:06:00.953-07:00I think David and TW are both right. Big business ...I think David and TW are both right. Big business and Government have in essence captured each other and are in relationship for each others benefit to the detriment to everyone else.Jameshttps://www.blogger.com/profile/13642228725661059539noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-87371105379428855702017-07-15T08:12:30.287-07:002017-07-15T08:12:30.287-07:00TW...yeah, that's some of it, but the Commissa...TW...yeah, that's some of it, but the Commissars are not making decisions about, say, line-of-business organization versus functional organization, nor are they requiring higher management to stand back like the Watchmaker God while political infighting over a period of months or years blocks forward progress. Nor are the Commissars imposing flawed incentive systems such as the one at Wells Fargo and then requiring a failure to monitor or tune the behavior induced by these systems. Nor are they forcing top-down logistical systems such as the one that led to a chain store in South Florida being shipped a batch of snowblowers to sell.<br /><br />Government is part of the problem...a big part...but they are not the whole problem. There are huge differences from company to company, of course, as a JPM shareholder I hope Dimon's company is one of the good one.<br /><br />David Fosterhttps://www.blogger.com/profile/15464681514800720063noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-18182039030401626462017-07-15T06:55:09.839-07:002017-07-15T06:55:09.839-07:00Well, David, the deterioration in business org des...Well, David, the deterioration in business org design (and recruitment) is not surprising given the (often Federally-mandated) presence of a Political Commissar (aka Diversity Director or Dean) in virtually every large company and all business schools, whose sole job is to enforce ideological purity.trigger warninghttps://www.blogger.com/profile/06310637474428322994noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-18343653396954207762017-07-15T06:04:25.186-07:002017-07-15T06:04:25.186-07:00The issue goes beyond government-driven things lik...The issue goes beyond government-driven things like regulations, taxes, and the excessive prevalence of litigation. There are also problems in the business world itself.<br /><br />Specifically, there is too much fad-following...people & companies chasing the latest cool thing rather than thinking seriously about what needs to be done in their specific circumstances. My linkedin feed is clogged with posts from people posturing as deep-thinking business intellectuals who have never had a creative idea in their lives. Much but not all of this is the doing of academia, as manifested in the business schools.<br /><br />There is a big problem with lack of intelligent organization design. Prating about the glories of 'teams' and 'boundary-less organizations' and 'de-hierarchicalization' is not substitute for thinking coherently about how things need to be structured.David Fosterhttps://www.blogger.com/profile/15464681514800720063noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-15563713902800641812017-07-15T05:33:26.765-07:002017-07-15T05:33:26.765-07:00"If this administration can make breakthrough..."If this administration can make breakthroughs in taxes and infrastructure, regulatory reform..."<br /><br />Well, it can't, at least on taxes and healthcare. Largely because the political establishment (including Republicans) are supremely chuffed because they were humiliated by a teetotaling upstart who eats well-done steak with catsup and unapologetically loves his own country more than he loves Somalia or, heaven forbid, the UN and WTO.<br /><br />Regulation is a different story, and there has been very positive movement there. I hope it's enough.trigger warninghttps://www.blogger.com/profile/06310637474428322994noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-14123503506777875572017-07-15T04:57:32.797-07:002017-07-15T04:57:32.797-07:00I wrote about this at my 2006 post Like Swimming i...I wrote about this at my 2006 post Like Swimming in Glue:<br /><br />http://chicagoboyz.net/archives/004435.html#more<br /><br />David Fosterhttps://www.blogger.com/profile/15464681514800720063noreply@blogger.com