Jamie Dimon says government spending trillions of dollars is like heroin for corporate profits: it feels good, but inflation is the price

Jamie Dimon says government spending trillions of dollars is like heroin for corporate profits: it feels good, but inflation is the price “We have been profligate now for years. We’ve borrowed and spent $12 trillion since 2020. And QE, if you go back to the beginning, was $8 trillion. And those numbers are almost equal for the rest of the world.” “We’ve got to remember our government spending is inflationary. It also does something which is unbelievable and makes you all feel good. It’s like heroin. It drives your corporate profits.” “When governments spend a trillion dollars, that goes into spending, that goes into all your businesses. Machine tools, burgers, pools, homes. And then we all feel good because we’re all making a lot of money.” “And it’s a little bit of a false thing if it’s inflationary, which it is.”

— Rhea (@rheacts) October 29, 2026