JPMorgan's Dimon Warns World Order Is Being Challenged

The geopolitical situation is probably the most complicated and dangerous since World War 2. If you look at the kind of the Nexus of the Ukraine war, you know, 300,000 Russian troops invaded free democratic nation on the border of NATO. Threatening nuclear blackmail has never happened in history. Educating the world that maybe have a nuclear weapon, you can kind of take advantage of your neighbors. It’s affected all global relationships. Then you have the terrorist activity in Israel, you know, which is now, you know, a little bit of a powder keg in the Middle East. We hope these things resolve. But a lot of wars that go on for a year or two can last for 10. And they can have somewhat unpredictable outcomes, but it’s also affecting oil, gas, trade, all military relationships. And you can see it’s strengthening some of American military allies and also our relationship with China. I think that relates very complicated. It’s made more complicated. So we’re kind of on different sides when it comes to Ukraine. So we, you know, this is a situation to be careful about the world order after, after World War 2, Bretton Woods, WTO trade, UN, etcetera. Kind of being challenged. And if this doesn’t go the right way, you can easily see a world that kind of goes more to a little bit of chaos as people realign allies, relationships, etcetera. I’m a little surprised that things haven’t gotten worse for oil and gas. You know, people flying drones and satellites and blowing up North Stream One and N Stream two. It doesn’t take a lot to extend oil and gas prices back to 120 or higher. If that happens, it’s bad for the climate. You know, all the climate folks because everyone turns back on their coal plants, poor nations and rich nations. But it’s terrible for poor countries, as you know, a lot of these countries is kind of struggling a little bit already. And so, you know, we have a dangerous situation here. And it’s far more important than whether the economy, you know, does a little bit better, a little bit worse this year and next year. I know they’re almost, I don’t even like talking about in the same breath, because one is about the future of the free world. One is about something we’re all used to, the weather. You know, things get better and things get worse in the economy. And most of us have dealt with that before.