“This is a tragedy we can see coming,” warns JP Morgan CEO Jamie Dimon in a document sent to members of the company.

Many Americans are concerned with the doomsday prediction made recently by JP Morgan CEO Jamie Dimon, whose knowledge and vast understanding of the U.S. economy and global marketplace is second to none.

There’s no question that the gloomy economic conditions most families are enduring don’t seem to be going away anytime soon.

But can the current financial reality really get worse than it already is?  And what will happen in the near future if the U.S. doesn’t change course and adopt new solutions now rather than later?

Dimon warned members of JP Morgan in a letter describing “key concerns” of the U.S. economy that he believes government officials must address now before it’s too late.

“The long-term fiscal and tax issues (driven mostly by healthcare and Social Security costs, as well as complex and poorly designed corporate and individual taxes), immigration, education (especially in inner city schools) and the need for good, long-term infrastructure plans…

I do not believe that these issues will cause a crisis in the next five to 10 years, and, unfortunately, this may lull us into a false sense of security. But after 10 years, it will become clear that action will need to be taken.”

According to Dimon, the likelihood of a fallout in the world’s financial marketplace “is a tragedy we can see coming.”

Some Americans seem to agree with the sentiment that the writing is on the wall and it’s only a matter of time before the economy spirals out-of-control.

Unemployment and underemployment have jumped to historical levels.  Most Americans who are jobless have simply given up and exited the workplace altogether.

And the value of the dollar continues to drop as a consequence of rising levels of inflation, causing the price of goods to increase while working wages stagnate.

Leading economists argue the government’s economic policy is driving the crisis from bad to worse — and JP Morgan’s CEO seems to agree — as skyrocketing healthcare and Social Security costs reach seemingly unsustainable levels.