2023-11-09 12:48:00
Jamie Dimon: The world is facing the most dangerous crisis since World War II
FXNEWSTODAY – JPMorgan Chairman Jamie Dimon warned that conflicts in Eastern Europe and the Middle East threaten the global economy with the most serious crisis since World War II.
In an interview with the British newspaper The Sunday Times, Damon said that the Russian war in Ukraine in Eastern Europe and the war with Hamas in the Middle East have made the world more fearful and unpredictable.
Damon added, “Here in the United States we still have a strong economy thanks to a lot of fiscal and monetary stimulus, but the current geopolitical tensions are very dangerous. They are the most dangerous since 1938, when Nazi Germany annexed parts of Czechoslovakia.”
Earlier last September, Dimon said at a financial conference in New York City that although the American economy enjoys a prosperous environment, it would be a grave mistake to believe that it will continue for years.
The head of the largest bank in the United States said that it would be useless to worry regarding financial markets when the world is on the brink of a crisis of such severity.
Jamie Dimon added: What is happening now in the world is the most important thing for the future. When we talk regarding freedom, democracy, food, energy, and immigration, we reduce their importance and say, “What will these things do to the financial markets?”
Damon explained, markets will be fine when these things are available in the world, and markets deal with events and crises, up and down, in ranges of volatility.
In conclusion, we would like to remind you that the above comments are not the first time that the Chairman of JP Morgan has warned that the ongoing conflict in Eastern Europe and the raging in the Middle East represent a threat to the global economy.
Last month, the bank announced its quarterly report, saying that this may be the most dangerous time the world has witnessed in decades, and attributed this to increasing geopolitical tensions, the Federal Reserve’s monetary tightening campaign, and the worsening government debt in the United States.
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