JP Morgan is the largest issuer of food stamp (debit cards) in the United States.
The number of food stamp recipients increased 16% over last year. At this point, close to 42 million Americans (1 in 8 ) are currently enrolled to received aide. This means that 14% of the population is living on food stamps. And JP Morgan, who specialized in mortgage backed securities which threw a lot of people into poverty and now specializes in payday loans, expects food stamp use to increase substantially over the next year. Which put a nice piece of change in JP Morgan’s pocket to the tune of 47 percent rise in profits in the 4th quarter.
Now THAT is how billionaires are made!
The CIRRRRCLE, THE CIRCLE OF LIIIIIIFE!
And you have to give the food stamp recipients some credit. At least they have the courtesy to stay off of those shabby, unappealing public bread lines.