JPMorgan Chase CEO Reassures Depressed People That ‘As Long As We Don’t Have Nuclear War’ We’ll Live An ‘Unbelievable Life’
“People say the next generation is in bad shape – Really?"
World Economic Forum, CC BY-SA 2.0 | Wikimedia Commons If you’re a Gen Zer who's been struggling mentally and financially lately, fret not! A billionaire CEO is here to assure you that you will be fine and there is nothing to worry about. (Insert sarcasm disclaimer HERE.)
JPMorgan Chase Chairman and CEO Jamie Dimon recently sat down for a Fox Business interview, sharing his belief that younger generations have nothing to be pessimistic about when it comes to their future. He actually said, as long as there’s no nuclear war, which is a very real possibility, they will be A-okay.
The CEO of JPMorgan Chase told depressed Americans that ‘as long as we don’t have nuclear war,’ we’ll live an ‘unbelievable life.’
In a country plagued by economic instability, unaffordable housing, limited access to healthcare, and questionable elected officials, many younger people are, understandably, fearing the future. According to research by the Walton Family Foundation, 42% of Gen Z is in the midst of a "mental health crisis," struggling with depression and feelings of hopelessness, at almost twice the rate of Americans who are over 25.
However, one billionaire Wall Street powerbroker remains optimistic and encouraged fellow Americans to have a similar attitude, especially those in younger generations.
The CEO of JPMorgan Chase, Jamie Dimon, insisted that in time, younger generations would benefit financially from inheritance passed down by their boomer and Gen X relatives, and that the technological advancements would allow them to live longer and healthier lives.
“People say the next generation is in bad shape – Really?” Dimon shared. “They’re going to inherit a country that’s worth $200-$300 trillion. They’re probably going to live to 120. [Artificial intelligence] is going to cure some cancers.”
He went on to proclaim, “These kids, anyone who’s depressed, as long as we don’t have, like, nuclear war, they’re going to have an unbelievable life.” Instead of focusing on the state of the current world, Dimon urged younger generations to ask themselves how they can do their part to improve it.
For many Gen Zers, it's getting more and more difficult to maintain a positive outlook.
Many Americans are feeling particularly on edge in the wake of President Trump’s tariff plans. A CBS poll found that 48% of Americans believe that the new tariffs will raise prices long term, and 42% believe that they will only worsen the economy over time. Many Americans are already struggling financially, and the uncertainty surrounding the new tariffs is adding to their unease.
A Federal Reserve survey found that 1 in 3 Americans couldn't cover a $400 surprise expense, and 2 in 3 Americans say inflation has made their finances worse.
The realities of our current climate also remain a prominent concern for younger generations.“They [Gen Z] speak of an apocalypse on the horizon... Some students become so overwhelmed with despair and grief that they shut down ... Their sense of powerlessness, whether real or imagined, is at the root of their despair,” Sarah Jaquette Ray, a teacher of environmental studies, shared in a 2020 Fortune article.
Four years later, things seem even worse. Even if we may not be in the middle of a nuclear war right now, it does not negate the fact that many of us are barely even able to get by with what we have.
If billionaires want us to remain hopeful, they should start by giving us hope.
Hear our fears. Lobby for change. Sign petitions. Consult with those in higher positions of power to make actual and effective plans that will lessen our burdens. While all these things seem like bare minimum for those of us in the trenches of the economic crisis and political divide, the truth is, having unimaginable wealth leaves these billionaires out of touch.
In an article for Medium, author Flantoshi put it all into "perspective." They wrote, "You know how when you walk on the street, you might not be willing to pick up a rusty cent coin on the ground because it’s not worth your time? Let’s take the median American net worth of $93,271 (my condolences to all the non-Americans, myself included, reading this), then calculate what the proportion of one cent is to that wealth, then we’ll apply it to Warren Buffett’s fortune. The equivalent, as of 2021, would be $9,456. As in, proportionally, if Warren Buffett were to see $10,000 on the floor, it wouldn’t be worth the bother to bend down to pick it up."
When financial differences are that extreme, walking in each other's shoes is almost impossible. Sadly, it is an uncertain and scary time for most Americans. That's just fact. But JP Morgan CEO Dimon was right about one thing, we need to take care of ourselves. We need to take care of our "friends, families, and loved ones." And perhaps the most important thing he said, "Have a little heart in humanity. Treat people properly." Maybe finding balance and happiness is as simple as that, whether you're a billionaire or living paycheck-to-paycheck.
Megan Quinn is a staff writer with a bachelor's degree in English and a minor in Creative Writing. She covers news and lifestyle topics that focus on justice in the workplace, personal relationships, parenting debates, and the human experience.
