JPMOrgan CEO Warns of Impending Economic Disaster Due to Soaring US Debt


Share This:

In a recent interview with FOx News, JPMorgan CEO Jamie Dimon sounded the alarm, stating that the US economy is hurtling toward disaster as the national debt continues its relentless climb. According to Dimon, urgent government intervention is essential to avert a looming major economic crisis.

Dimon emphasized the severity of the situation, likening it to a cliff that the country is rapidly approaching. He noted, “It is a cliff, we see the cliff. It’s about 10 years out, we’re going 60 miles an hour “.

The JPMorgan chief executive concurred with former House Speaker Paul Ryan’s assessment, who described the escalating debt as “the most predictable crisis we’ve ever had.” Both Dimon and Ryan expressed their concerns during a panel discussion at the Bipartisan Policy Center.

AS of the end of December, the US federal debt surpassed $34 trillion, reaching a historic high. This translates to approximately $102,000 for an average American family of three. The debt surged by more than $4 trillion in 2023 alone.

Highlighting the staggering magnitude of the US total public debt, the Peter G. Peterson Foundation, a nonpartisan fiscal policy group in New York, pointed out that it is roughly equivalent to the combined economies of China, Germany, Japan, India, and the UK.

US Treasury Secretary Janet Yellen acknowledged the alarming scale of the public debt, referring to it as a “scary number.” Despite stating that it has been manageable so far, Yellen stressed the need for measures to bring down deficits and maintain manageable levels.

The colossal amount encompasses what the federal government owes to various creditors, including individuals, foreign investors, states, and large funds. The ongoing borrowing to cover a budget deficit, persisting for over two decades, raises concerns about the sustainability of the nation’s financial trajectory.

Free Speech and Alternative Media are under attack by the Deep State. Chris Wick News needs reader support to survive and thrive. 

Chris Wick News is a privately owned web site funded solely by donations from our readers and participants, Every dollar helps. Contributions help keep the site active and help support the author (and his medical bills)

Please Contribute via  GoGetFunding

Share This:

Share post:



More like this

West’s Treatment of Ukrainians Mirrors Historic Wrongs Against Indigenous Americans – Alleges Moscow

In a scathing indictment of Kiev's policies, the Russian...

Tony Blair Calls for a Political “Reset” Amidst Rise of the “Weird & Wealthy”

Former UK Prime Minister, Tony Blair, has ignited controversy...

Will AI Join with Humans

Artificial Intelligence (AI) has made remarkable strides in recent...

Fauci’s Follies: A Tale of Oath-Breaking and Forgetfulness

Once again, Dr. Anthony Fauci finds himself in the...