Posted 1/29/2024, 11:50:00 AM
Jamie Dimon Warns of Looming Cliff as U.S. Debt Nears 100% of GDP
- Jamie Dimon warns mounting US debt is approaching a "cliff", with debt-to-GDP ratio jumping from 35% in 1980s to 100% today
- He predicts a "hockey stick" effect by 2035, with debt-to-GDP hitting 130% and sparking a "rebellion" in global markets
- This poses risks for national security and countries like Japan and China that own significant portions of US debt
- Dimon calls for more collaboration between public and private sectors and says he'd tax the rich more to support the poor
- Though he jokes about government work, Dimon shuts down rumors he’d leave JP Morgan for politics