Aug 2, 2023

Jamie Dimon on the U.S. government debt downgrade by Fitch

It doesn't really matter that much.  The markets decide; it's not the rating agencies who make these big decisions.  Number two, they point out some issues which we all knew about, about our debt ceiling crisis and things like that.  Number three and most important to the American public, this is the most prosperous nation on the planet.  It's still the most prosperous nation on the planet.  It's the most secure nation on the planet.  And I would point out to the rating agencies, if I could, there are a bunch of countries rated higher than us - I think AAA - but they live under the American enterprise military system.  To have them be AAA and not America, it's kind of ridiculous.

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This is the most prosperous nation on the planet.  North America.  We have the Atlantic and Pacific, the best military, the best economy the world's ever seen, the most innovation.  The credit is sound.  It should be the highest rated credit in the world.  And, yes, there are issues about it [the debt ceiling] being raised publicly.  I agree with that.  We should get rid of the debt ceiling...  We need certainty in the world and should have more of it.

Jamie Dimon, CNBC interview, 1:50 mark, August 2, 2023





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