CEO of JP Morgan Chase Jamie Dimon: “China is an adversary, but what I really worry about is the enemy within. Can we get our own act together, our own values and capabilities? This time is different… we have to get our act together and quickly.”
“Underlining both that is the enemy within. I’m not as worried about China; China is a potential adversary. They’re doing a lot of things well, they have a lot of problems, but I really worry about us. Can we get our own act together, our own values, our own capability, our own management? What you heard today on stage was the amount of mismanagement is extraordinary—by state, by city, for pensions—and that stuff is going to kill us.”
“And you know, I always get asked this question, ‘Are we going to be the reserve currency?’ No. If we are not the preeminent military and the preeminent economy in forty years, we will not be the reserve currency. That’s a fact. Just read history. I think we will be; Warren Buffett here would tell you we’re enormously resilient, I agree with that. I think this time is different. This time, we have to get our act together and we have to do it very quickly.”