Boots & Sabers

The blogging will continue until morale improves...


Everything but tech support.

2158, 14 Jun 21

“very good chance inflation will be more than transitory”

It’s coming.

JPMorgan Chase has been “effectively stockpiling” cash rather than using it to buy Treasuries or other investments because of the possibility higher inflation will force the Federal Reserve to boost interest rates, Dimon said Monday during a conference. The biggest U.S. bank by assets has positioned itself to benefit from rising interest rates, which will let it buy higher-yielding assets, he said.


“We have a lot of cash and capability and we’re going to be very patient, because I think you have a very good chance inflation will be more than transitory,” said Dimon, longtime JPMorgan CEO.


“If you look at our balance sheet, we have $500 billion in cash, we’ve actually been effectively stockpiling more and more cash waiting for opportunities to invest at higher rates,” Dimon said. “I do expect to see higher rates and more inflation, and we’re prepared for that.”


2158, 14 June 2021


  1. Jason

    Now we know why … even though digital currency is sketchy and doesn’t make a lot of sense (cents) to the common man… why it’s gaining traction. Big Banks are rapists of the financial world.

  2. Mar

    We have the JV team or perhaps a middle school JV team in charge of of Washington DC. From the president on down. Just 2nd rate at best. And that includes Democrats and RINOs and the swamp.
    Of course, with Senile Joe, it’s the nursing home for those with dementia. And for whore Harris, it’s the home for the incompetent.

  3. dad29

    This particular batch of inflation began way back when……… ’08 when Bush and the Congress spent a zillion dollars rescuing Too Big To Fail banks……..including Dimon’s JPMChase.

    Irony, no?

    Yes, Obama and Congress laid it on thick, as did Trump and Congress, ditto Potato-Brain and Congress. But the Fed’s monetizing was the first big crack on the wall. In ’08.

    Thanks, Jamie Dimon!

  4. Mar

    Sorry Dad, but I disagree. Yes, Bush, president Sparklefart and Trump helped, but since Senile Joe took office, prices have skyrocket in many areas because if his policies.
    He is to blame, especially for gas prices and wood prices.

  5. Le Roi du Nord

    Hmm, explain how Biden policy has affected wood prices?

  6. Jason

    I pasted your stupid brain the last time you brought up wood prices. I’m sure you’ve conveniently forgotten that Leroy. Liberals always do.

  7. Mar

    He has short term and long term memory loss.

  8. Le Roi du Nord

    So you guys don’t have an answer, eh?

    And no j, you did nothing of the sort.

  9. Jason

    >And no j, you did nothing of the sort.

    You don’t get to remember history differently than the rest of us… if you really think you can do that, you have a mental issue or a medical issue…. and need help. It was another one of those discussions that you disappeared from once facts got shared.

  10. MHMaley

    Biden has nothing to do with the spike in lumber or other building materials .

    Covid shut down facilities and prior to that Buyers had inventories at record lows choosing not to buy inventory they historically would in Q1 2020 ( prior to Covid .

    It’s the lack of inventory coupled with historically low interest rates that spiked prices – an additionally $35 -50 K depending on the cost of a new home in Q4 2020 .

    The supply chain problems will continue at least into Q2 -2022 but there is no consensus whatsoever on what happens next .

    If demand drops , the price of lumber / OSB will drop with it .

    OSB was at an all time low just a few years ago as the mills over produced vs demand .

    I thought a few facts might be helpful .

  11. Mar

    I’m sure Senile Joe restricting logging on million of acres President Trump opened had nothing to do with the prices.

  12. Le Roi du Nord

    “I’m sure Senile Joe restricting logging on million of acres President Trump opened had nothing to do with the prices.”

    For once you are correct. Bravo !!

  13. Mar

    So, you agree that Senile Joe’s policies increased prices.

  14. dad29

    By and large, Maley’s comment is correct (first time in forever….)

    This is demonstrated in the auto industry, too. J-I-T theory is great (for finance freaks) until you shut it down and attempt a re-start. The results in the mess we have today. Example? Sure!! In the Milwaukee area, there are 20 Chevy dealers. Total of new Chevy products in their inventory last week? 1500. That would ordinarily be about 7500, and it’s not because dealers don’t want the cars/trucks.

    It’s more than just parts, too. A major offshore auto manufacturer cannot get its cars from port-of-entry to dealers due to a lack of truck drivers.

    It ain’t just Biden.

    Finally, let me correct my earlier remark. The debasement of the USD in the modern era extends all the way back to Tricky Dick’s abolition of the gold standard. Note well I say “modern era.” You could argue that FDR pushed the ball down hill, too.

    But remember this: every damn one of those Presidents was supported, happily, by Congressmen more interested in re-election than in the national interest.

  15. Le Roi du Nord

    No mar, I don’t.

    Geez, you can’t even understand what you wrote, even if it was sarcastic. And you call Biden “senile”. Hypocrite.

  16. Le Roi du Nord


    Facts tend to confuse the kool-aide drinkers. An exception ( this time at least) dad understands.

  17. Mar

    The Red Moon cannot come quickly until Pervert Boy Le Roi days something relevant.

  18. Le Roi du Nord

    Ah, your classic comeback when you screw up and get caught.

  19. dad29

    Don’t get all sweated up, LeeeeeeeeeeeeeeRoy.

    Biden’s actions–supported by the Parliament of Whores we call “Congress”–are going to make this much, much, worse.

    Of course, they’re not really Biden’s* actions. They are the actions of 44, our first Communist Party President.

  20. Le Roi du Nord

    Wholesale lumber prices are already dropping. I suppose you will give trump credit for that, eh?

  21. MHMaley

    My comments were specifically correct not “by and large “ .

    Lumber futures are down 42% in July from their May all time high .

    While 3x higher than traditional at that time of year , the rapid decline suggests the bubble has burst .

    The 3 largest Canadian sawyers have predicted a $447 lumber price next year – slightly more expensive than the norm but more aligned with historical prices

  22. Mar

    Well, the Biden fuel shortage is happening.
    I work in the fuel industry now and we are now having fuel shortages in Nevada and Arizona.
    And it’s a truck driving issue, it’s getting the fuel to the tanks via pipeline and trains.

  23. Mark Hoefert

    Well, Biden & his Titanic shipmates are cuffing their collective carrots that the cost of July 4th dinner will be down by 16 cents. That’s if your 4th of July tastes are limited to a pork chop, ground beef (from what I can see, no sauce or bun or condiments), a slice of process American Cheese, canned pork & beans, chips, lemonade, and ice cream.

    I think this is intended for the Nord types to swallow and regurgitate. “The Biden economic plan is working.”

    The Biden administration boasted on Thursday that cost of a Fourth of July cookout went down by 16 cents in 2021 compared to 2020, prompting backlash on social media.

    The White House issued a tweet touting modest price decreases in foods popular over the holiday weekend. Savings highlighted in the tweet included the cost of a 13-ounce bag of potato chips dropping by 1 percent and a three-pound portion of center cut pork chops plummeting by 2 percent. A 32-ounce serving of pork and beans, listed at $1.90, represented the largest savings at a 13 percent reduction.

    “Planning a cookout this year?” the tweet asked, alongside an animated image listing the price drops. “Ketchup on the news. According to the Farm Bureau, the cost of a 4th of July BBQ is down from last year. It’s a fact you must-hear(d). Hot dog, the Biden economic plan is working. And that’s something we can all relish.”

  24. Mar

    They probably shopped first at Whole Foods and then to Walmart and said the prices went down.
    Meanwhile, gas is up 90% here since January 20.

  25. MjM

    @Mark. Yes, a skillet of ground beef, the usual 4th of July barbecue fare. Serve family style! Dig in!

    The clue is, “ …compared to 2020.”

    In 2020 pork prices rose 6.3%, beef 9.2%, poultry 5.6% due to processing plant shutdowns, lack of feed, and a major shift from restaurant supply to retail supply because all eateries were shuttered and everyone was forced to stay home.

    Whatchoo gonna do with your $0.16? I thinking of buying a toothpick.

  26. Mar

    MJM, it better be plastic both wood toothpicks, you might need a loan.

Pin It on Pinterest