”You want a friend in Washington? Get a dog.”— Harry S. Truman
Hedge fund billionaire Bill Ackman Tweeted this morning:
Jamie Dimon is one of the world’s most respected business leaders. Politically he is a centrist. He is pro-business and pro-free enterprise, but also supportive of well-designed social programs and rational tax policies that can help the less fortunate. He is extremely smart …
Mr. Ackman, though he’d likely eschew the pronoun, continues the list of accolades and concludes with resounding support: “Jamie Dimon should run for President.”
It’s weird, right? We’ve been critics of the banking system since we began studying the Great Depression.
The fact that Ackman would ever make the argument for a Dimon presidency seems, well, interesting to say the least—and over Twitter no less! Jamie Dimon couldn’t be more corrupt than either of the Trump or Biden families. That’s an actual statement, not satire.
“Maybe,” our mind begins a twisted hope, “we could rescue the country from the nutjobs who are only about social policy or their own political careers.”
Who among us believes “they” even want to run the country with sound principles?
Jamie Dimon is not above reproach by any means. One response to Ackman’s tweet was akin to calling Dimon a mafia don.
In another puzzling chapter in a slew of stories that have headlined mainstream outlets since the banking crisis began in March, Dimon emerged as the economy’s “rescuer-in-chief.”
Upon landing in Washington today after an overnight flight from China, reporters from Bloomberg and CNBC swarmed the JPMorgan CEO asking if he’d run for President. “Never say never,” he replied.
As to what he thinks about Sino-American relations, he chided: “You’re not going to fix these things if you are just sitting across the Pacific yelling at each other, so I’m hoping we have real engagement.”
Dimon’s newfound celebrity status is Buffet-esque; acting as consultant for centrist Democrats is an example of an increasingly centralized banking system—or an increasingly financialized government?
The new world banker is hyper-aware of risk management, regulation, oversight, and… that b.s. currency in Washington they call “clout.” The phrase itself is annoying. Skid. Let’s call it that… or something less attractive.
We could even go so far as to claim Ackman’s comment on Twitter is political discourse at its finest.
Why don’t we just elect someone who’s shark enough to steal our money honestly?
When we have $32 trillion in debt, mostly financed by foreign interests, it might be a good idea to have the guy who oversees a bank with transactions that rivals the world’s top 5 GDPs in the seat behind the oval desk.
I don’t know what Dimon’s politics are. I actually don’t care. But I definitely prefer banking to bullets… I prefer oil and gas to climate change mirages… I prefer contracts to back room deals.
It would be a bad idea to attach any meaning to a tweet by some billionaire, right?
Follow your own bliss,
P.S. The JPMorgan event in China hosted Henry Kissinger, who famously opened the door to Sino-American talks in 1972 on behalf of our own deposed president, Richard Nixon. Kissinger turned 100 this week. How crazy is that? The Chinese even sang Happy Birthday in English to him.
Who cares about any of these events? We might all want to if we want to keep our kids off the techno battlefield of the next war. Kissinger did his best 51 years ago.
Addison Wiggin is an American writer, publisher, and filmmaker. He was the founder of Agora Financial and publisher for 18 years. An acclaimed New York Times best-selling author, his books include: Financial Reckoning Day, Empire of Debt, The Demise of the Dollar, and The Little Book of the Shrinking Dollar. Addison is also the writer and executive producer of the documentary I.O.U.S.A., an exposé on the national debt, shortlisted for an Academy Award in 2008. He lives in Baltimore, Maryland with his family. Addison started his latest project, The Wiggin Sessions, powered by Consilience Financial, in March 2020. He films from a homegrown studio in his basement.