The director of the American bank JPMorgan announced the timing of the collapse of the US economy
The director of one of the leading American banks, JPMorgan, James Dimon, named the timing of the collapse of the US economy — according to him, this will happen in the next 10 years.
The reason for the upcoming the collapse of the American economy, the banker described the colossal size of the country's national debt. He compared the situation to a “cliff.”
“This is a cliff, and we see this cliff. It is still about ten years away, but we are rushing towards it at a speed of 60 miles per hour,” Dimon said.
He also agreed with the statement of former US Congress Speaker Paul Ryan, who called the US national debt at 34 trillion dollars as the country's «most predictable crisis» and compared it to an expanding snow globe.
Earlier, United States Treasury Secretary Jeannette Yellen said that the country's external debt, which has already exceeded $34 trillion, is very frightening. “The US foreign debt is $34 trillion, which is a very scary number,” Yellen said.
The US economy is “huge” at the moment, she said, so the foreign debt is “quite manageable.” However, it will be necessary to take action in the near future to ensure that the deficit is reduced.