I HOPE HE’S WRONG BUT WE’RE SITTING ON AN AWFUL LOT OF DEBT, PLUS BIDEN’S INNOVATION-CRUSHING REREGULATION SPREE: JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome.’

When asked by CNBC’s Sri Jegarajah about the prospect of a hard landing, Dimon replied: “Could we actually see one? Of course, how could anyone who reads history say there’s no chance?”

The CEO was speaking at the JPMorgan Global China Summit in Shanghai.

Dimon said the worst outcome for the U.S. economy will be a “stagflation” scenario, where inflation continues to rise, but growth slows amid high unemployment.

“I look at the range of outcomes and again, the worst outcome for all of us is what you call stagflation, higher rates, recession. That means corporate profits will go down and we’ll get through all of that. I mean, the world has survived that but I just think the odds have been higher than other people think.”

However, Dimon said that “the consumer is still in good shape” — even if the economy slips into recession.

Between rising credit card debt and tapped-out savings, I wonder if Dimon isn’t overestimating what kind of shape consumers are in.