JPMorgan Chase & Co (JPM) CEO Jamie Dimon said it's "almost embarrassing being an American traveling around the world," on a conference call with analysts Friday.
Dimon said he doesn't like listening to the "stupid s***" Americans must deal with. "There would be much stronger growth if there were more intelligent decisions and less gridlock," Dimon added.
But Washington gridlock can't stop all business growth, Dimon said. "Since the Great Recession, which is now 8 years old, we've been growing at 1.5 to 2% in spite of stupidity and political gridlock, because the American business sector is powerful and strong."
Dimon's comments came after JPMorgan reported record profit despite a 19% decline in bond trading revenue. But Dimon told reporters on another call that he thinks focusing on infrastructure, regulation, taxation and education policy that is "good for all Americans" is more important that Wall Street earnings.
"Who cares about fixed income trading in the last two weeks of June. I mean seriously," Dimon said.
JPMorgan's shares fell 1% to $92.22 by Friday's close.
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More issues for food makers: As if food makers such as Kraft Heinz (KHC) and grocery retailers like Kroger (KR) and Walmart (WMT) didn't have enough issues on their plate thanks to Amazon's (AMZN) advances.
A significant demographic headwind could add further pressure on the packaged food and grocery store sectors in the years ahead, according to Wolfe Research analyst Scott Mnushkin. The U.S. government reported recently that the fertility rate in the U.S. (births per 1,000 women) hit a record low of 62.0 in 2016, with the number of births down about 1% from the prior year. With births declining and immigration slowing, population growth in the U.S. has stalled.
For the aforementioned sectors, Mnushkin points out, it's critical households are formed in order for demand to materialize. The fact that's not happening at a decent clip is troublesome.
All eyes on Apple's iPhone 8, per the usual: Barclays analyst Mark Moskowitz is not buying the projected "super cycle" in Apple's (AAPL) stock after the tech titan releases its highly anticipated iPhone 8 later this year. Amid reports that the highly anticipated smartphone may not include wireless charging, enhanced 3D technology, or Touch ID, Moskowitz contends that the phone's OLED display, the lone headline feature, won't be enough to convince consumers to upgrade.
"With OLED, we struggle to see the incremental benefits visually that would inspire a customer to replace an adequately-performing device," he noted.
Crowley, who built the location intelligence company into a service with 50 million monthly active users across its two apps since founding the company in 2009, spoke with TheStreet'S Natalie Walters at the company's hip headquarters in Soho, New York.
"I can see what Amazon is trying to do there," Crowley said. "I think it's super brilliant." As for what Crowley is up to at FourSquare right now, check out TheStreet this weekend.
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