The global economy is approaching the point of no return courtesy of mounting government debt, believes JPMorgan Chase CEO Jamie Dimon, and it will lead to a massive falling-out of markets and federal institutions.

Currently the American national debt stands at $34.14 trillion — about $100,000 for every person in the U.S. — with the debt ceiling currently suspended until 2025 courtesy of a deal passed in the summer of 2023.

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Two decades ago this month, senior officers there signed the paperwork with Russian oil magnate Sergey Bogdanchikov that entrusted his growing fortune to the storied bank. But instead of protecting and increasing his wealth, Bogdanchikov claims, a prominent relationship manager at the bank steered it to a coterie of accomplices across Europe and the U.S. who cost[…]