Here is the full excerpt from Dimon (link to full letter):
- Over last 16 years, U.S. has spent trillions on wars when it could have been investing that money productively.
- Since 2010, when the government took over student lending, direct government lending to students has gone from ~$200b to >$900b, creating dramatically increased student defaults, population that’s "rightfully angry" about how much money they owe, particularly since it reduces ability to get other credit.
- Healthcare costs are essentially twice as much per person vs most other developed nations.
- Labor force participation is too low.