Jamie Dimon: The $35 Trillion Dollar Storm Brewing in the US Economy

Billionaire Jamie Dimon (CEO of JP Morgan Chase) is observing some distressing signs in the U.S. economy. In a recent interview with Bloomberg, Dimon warned about a 35 trillion dollar storm that is brewing in the US economy. This problem is generations in the making but until recently had been flying under the radar. However, now, it has simply gotten too big to ignore. You need to be paying attention to this because the consequences of this storm finally making landfall have the potential to be devastating. Jamie Dimon’s position as CEO of JP Morgan Chase, the largest bank in the United States, gives him unparalleled insights into the U.S. economy. And it’s safe to say, he is worried about what he is seeing. Listen to what he has to say.

A budget deficit occurs in a country when a federal government’s spending exceeds its revenues. While deficits can drive growth in the economy, create jobs, and lessen the impact of recessions, they can also increase debt and worsen inflation. When a deficit gets too large, it can create a downward spiral of a declining economy and sky high inflation. A combination that has pushed countries into having to make some very tough, unpopular decisions. In extreme cases, even sending countries into bankruptcy. Dimon is worried that the United States is on the brink of hitting the point of no return.