We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse. There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history.
Since Russia's invasion of the European nation of Ukraine in February 2022, one million people are estimated to have died or been injured. Ukrainian authorities also believe more than 19,000 children have been deported or forcibly displaced into Russian territory, with less than 400 returned to their families.
Dimon noted the number of deaths and child displacements as a result of Russia's invasion of Ukraine. Such figures have led Dimon to label Russia-along with Iran and North Korea-an 'evil axis' of nations that are 'working every day [on] how to make it worse for the Western world and for America.'
The revenue figures from JP Morgan this week showed steady growth, reporting revenue of $42.7 billion for the third quarter of 2024, up 7% from the same quarter last year.
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