Wednesday, October 16, 2013

Jamie Dimon: It's "Virtually Assured" for the Bond Market to Turn Against the United States

From Bloomberg (h/t ZeroHedge):

Q. How worried are you that one morning the bond market has moved against the United States?
A. It’s virtually assured, the question is when and how. I don't know if it will be two years of five years but it will happen. It is a matter of time, the United States can’t borrow indefinitely. Over hundred years bankruptcies of country after country who thought they could get away with it because they had the reserve currency and the military power of the world. We are going to have fiscal discipline. It’s imposed upon us or we do the right thing and do it to ourselves the right way.... America knows the way, it doesn't have the will.

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