Jamie Dimon Predicts 4% GDP Growth. What Does That Mean?

by Rod D. Martin
January 9, 2018

J.P. Morgan CEO Jamie Dimon says everyone is wrong about GDP growth, and says the newly-passed Trump tax deal will likely push it to a whopping 4%

What would that mean? For regular people?

In his final year, while bragging about all of his supposed success with the economy, Barack Obama managed 1.6% economic growth. The post-WWII average is 3%. Jamie Dimon is now predicting 4% for 2018.

What do those numbers mean?

Well, let's put it in terms of how fast the size of the entire U.S. economy doubles, thus creating new jobs and new opportunities for everyone, especially young people graduating from high school and college.

At 4%, the economy doubles in just 19 years.
At 3%, the economy doubles every 25 years.
At 1.6%, the economy doubles in...just under 50 years.

That means that at 4%, a child born today will have twice as much opportunity by the time she's looking for a job; but at Obama-level "growth", someone can work their whole life and retire before that happe…