JPM - JPMorgan's Jamie Dimon Raises Alarm Over Potential Global Market 'Rebellion' Due To Record US Debt: 'That Hockey Stick Doesn't Start Yet' | Benzinga
The CEO of JPMorgan Chase & Co, Jamie Dimon, cautions of a potential ‘rebellion’ in global markets prompted by the escalating U.S. national debt during a recent panel discussion at the Bipartisan Policy Center in Washington.
What Happened: In the panel discussion on Friday, Dimon expressed unease over the escalating U.S. national debt, as reported by Business Insider. The U.S. debt-to-GDP ratio currently sits at approximately 120%, with the national debt exceeding $34 trillion. Dimon anticipates the debt-to-GDP ratio will reach 130% by 2035.
Dimon warned of the worldwide implications of the U.S. debt, as foreigners hold $7.6 trillion of the debt. “That hockey stick doesn’t start yet,” he said.
“When it starts, markets around the world… there will be a rebellion,” he added.
According to Dimon, the rising debt could exceed the U.S. government’s total revenue by 2030, as projected by the Congressional Budget Office.
“This is about the security of the world,” Dimon emphasized, underscoring the need for a stronger America and military.
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