Plus, he’s not the only one. Bank of America CEO Brian Moynihan also raised the need to take control of what, in his view, is an undeniable problem. What is it about?
At a time when public debt of the United States exceeds the 34 billion mark Dollarsthe CEO of JP Morgan, Jamie Dimonpredicted a serious financial crisis in that country. Specifically, the renowned financial guru pointed out that the country faces a “rebellion” of the world market amid its growing debt figures.
Plus, he’s not the only one. The CEO of Bank of America, Brian Moynihanalso pointed out the need to take control of what is an undeniable problem. Disturbing growth in US debt has continued amid growing BRICS economic alliance.
In fact, the economic bloc has continually expressed its desire to reduce the international prevalence of the greenback and use other currencies for global trade. According to the warning issued by Dimon and other financial heavyweights, the US could be facing the real risk of that reality.
The fears of Dimon and others
On both political sides, US public spending has spiraled out of control. Last year, it faced a government shutdown after hitting a $33 trillion debt ceiling. By 2024, that figure has already grown to more than a trillion dollarsand many financial experts are starting to sound the alarm.
Among them is the CEO of JP Morgan, Jamie Dimon, who has already predicted a major financial crisis in that country. Specifically, Dimon assured in statements to Fortune magazine that the United States is facing a “rebellion” in the world market. Furthermore, he has said that the American debt record is “a cliff… we’re going 60 MPH towards it“.
All this within the framework of the growing economic alliance of the BRICS. Its expansion marked one of the most important geopolitical events of the last decade. In addition, it systematically promotes initiatives that decreased the preponderance of the US dollar on a global scale, which for financial analysts puts North American power in check.
As Dimon said, the BRICS alliance is the beginning of the world market rebellion. They have encouraged people to move away from the greenback to preserve themselves in the future. With each month that passes, and the insurmountable debt increases, that decision seems increasingly wise for Central Banks around the world.
Source: Ambito
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