Wow, this is frank. Maybe it wasn’t for public consumption.
Jamie Dimon, CEO of JP Morgan, was recently interviewed at the Council on Foreign Relations by its president Richard Haass. (That’s the “mothership” where H. Clinton takes her orders.)
Haass: “How worried are you that the bond markets will move against the United States?”
Dimon: “It’s virtually assured.”
He goes on to explain he doesn’t know when, that it could be two years or five years, but it will happen. He thinks the US can still sort out its debts, but if it chooses not to then fiscal discipline will be imposed on it. Even the Wall Street big shots recognise the cliff ahead. When what he says comes to pass (has he been reading ATW?!) there’s no way that the federal government can pay its debts. That’s when the gig’s up. In the meantime, make sure your pension/IRA has no US federal or state treasuries in it.