Jamie Dimon, CEO of JPMorgan Chase, appeared on CNBC’s Squawk Box on Wednesday to discuss the lay of the land from the annual World Economic Forum conference at Davos. Among the usual Wall Street Journal editorial-page pieties about skills-based immigration, trade, and supporting Ukraine, Dimon had some stiff warnings for the Democrats and some unexpectedly kind words for the former President Donald Trump.

If you do not control the borders, you’re going to destroy our country. And so, I think the people who think that somehow it is okay, so now, they’re sending the migrants into New York or stuff like that, all my super liberal friends, now they realize what the problem is. Did it have to be that, you know, that we realize it? So, we want to have a big heart for the world, but we have to control the borders.

And, later:

And I just also want to point out, I wish the Democrats would think a little more carefully when they talk about MAGA, you know? And if you travel this country, you know and the country is unbelievable. We took a bus trip this year, Leslie Picker was on—Spokane and Boise and Bozeman. People are growing. They’re hungry to grow. They’re innovating. It’s everywhere. It’s not just Silicon Valley. So, we got this great hand. But when people say MAGA, they’re actually looking at people voting for Trump and they think they’re voting—and they’re basically scapegoating them, that you are like him, but I don’t think they’re voting for Trump because of his family values. If you look at, just take a step back, be honest. He’s kind of right about NATO. Kind of right about immigration. He grew the economy quite well.

We would like to think this suggests that reality is asserting itself even among the elite classes; things can get only so stupid before the systems start to break down, and the people in charge are reeling in the madness again. (Dimon is not the only Davosnik making these noises.)

Naturally, the professional bedwetters over at the Bulwark started shrieking about Dimon joining “the Trump normalizers.” Of course, if saying Trump had a point about jobs in middle America makes Dimon a “Trump normalizer,” Joe Biden must be one too.