Jamie Dimon says mounting US debt will eventually spark a 'rebellion' in global markets. Mounting US debt will eventually spark a "rebellion" in markets around the world, JPMorgan CEO said. That's because $7.6 trillion of US government debt is held by foreign entities in countries like Japan and China. "It is a cliff. We see the cliff. It's about 10 years out. We're going 60 miles an hour," Dimon said. The US's mountain of debt hasn't gone anywhere — and that's a big problem for markets around the world, Jamie Dimon warned at a panel decision in Washington with the Bipartisan Policy Center on Friday. The US debt-to-GDP ratio looks like a hockey-stick chart — or one that starts relatively sideways before eventually spiking — JPMorgan CEO Dimon explained. He expects the measure to hit 130% by 2035. https://finance.yahoo.com/news/jamie-dimon-says-mounting-us-050516886.html
This is the same time as the Social Security crisis is going to hit.
Just for fun, let's pick a date. How about Friday, September 29, 2034. That is the last business day in the fiscal year. Maybe there will be a stock market crash that day, or interest rates will soar above 20%?
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