You have to laugh at the news that the US is practically addicted to debt – and that's put the economy in a dangerous position, according to JPMorgan CEO Jamie Dimon. He pointed to the enormous amount of debt the US has taken out since the pandemic, including around a trillion distributed in stimulus checks and the $4 trillion doled out by the Federal Reserve to buy government bonds. Those actions injected a huge amount of cash into US markets, leading firms to rake in more profits while stocks soared higher in 2021. "That money is like heroin," Dimon said at the Global Investment Summit in London, per the Telegraph. This is from the guy whose net worth is almost $2 billion and whose annual salary is $34.5 million. Sounds like he's on both heroin and crack to me.
Don’t get your nose bent out of shape Jamie.