Why JPMorgan CEO Jamie Dimon Is Skeptical of an Economic Soft Landing | WSJ
2024 ж. 8 Мам.
494 495 Рет қаралды
JPMorgan Chase CEO Jamie Dimon says the U.S. consumer is in good shape right now, but a huge fiscal deficit and geopolitical challenges like the Israel-Hamas War and Russia-Ukraine War make him cautious about the future.
In an interview with WSJ editor in chief Emma Tucker, Dimon discusses the state of the U.S. economy, his leadership style and more.
Chapters:
0:00 U.S. consumer
2:32 U.S economy
4:31 Israel-Hamas War
5:31 Russia-Ukraine War
6:42 China
7:45 U.S. politics
8:24 Impact of near-death experience
9:13 Leadership
10:52 Quick questions
Watch the full, wide-ranging interview with JPMorgan Chase CEO Jamie Dimon here: on.wsj.com/3UBAWSI
#Banks #Economy #WSJ
Watch the full, wide-ranging interview with JPMorgan Chase CEO Jamie Dimon here: on.wsj.com/4aWntus
The interviewer is just stroking his ego in a puff piece. What ever happened to critical, tough, insightful journalism? How does Diemon square his position on the Basel III endgame which will make banks safer for the public (likely reducing the chances of giant bailouts which cause inflation) with his purported worries about inflation? How can he say he cares about the American public while shying away from real opportunities to serve the people and not a private bank?
Economy grow but only in top 20%.
The interviewer seems to have a big ego. She should stay at home and look after the children
😅
Please stop with the clickbait titles. I used to love the unbiased videos on whats really going on in the market. Crash market fatigue is showing with most folks. Most are so tired of hearing about the worse even though its true. My $200,000 share holdings are down 17%
Yes, and unlike you, a good number of folks are raking in huge gains even in this downtrend, but such strategies are mostly successfully done by experts.
@@Higuannn I do agree, Investing has gotten difficult especially after pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now hehehe.
@@hullbruce Hello thanks for replying, I'm curious to give this a try. Please who is your advisor and how do I get in touch?
@@Jaymilnere Sure, only one person comes to mind, the popular lady Alicia Estela Cabouli. You'd find her basic info. on the web to set up appointment as she offers free consultations.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Don't fret, the debt ceiling always goes up. I wonder if 2008 crisis survivors had it easier. this could lead to economic downturns. We need to be prepared for potential market volatility. how can I secure my 250k portfolio against declining?
Everyone needs a Margin of Safety in their portfolios and just remember, It's time in the market versus timing the market.
The economy and stocks are two different things these days
De-risk your portfolios, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I. We've made over 80% capital growth minus dividends.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
*Jennifer Leigh Hickman* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
“the consumer is in pretty good shape right now” i dont feel in pretty good shape
He's in really good shape right now so everyone else must be doing just fine too !
you are "a" consumer, not "the" consumer
You don't "feel" good but you still have to spend more, even go into debt for that spending. That's his definition of "good"
like he has said, some are in good, some are in bad.
He hangs with elites, not common folk
I love when millionaires tell how the working class population feel itself.
Legendary comment.
@@neo5973Legendary response
Correction billionaire
What part are u reffering to
He bases his argument on the numbers thats the fundamental of his job. It’s not about the rich or poor gap.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@@Abelone-Alvilda That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@festusmadidi2634 My advisor is Victoria Carmen Santaella;
You can look her up online
Nah I Can't say I can relate, Victoria Carmen Santaella charge is one-off and pretty reasonable when compared to what I benefit in returns.
@@Abelone-Alvilda I will give this a look, thanks a bunch for sharing.
J.P Morgan stood up in his grave and applauded.
LOL
@@rn8605 what type of ugly a emoji
@@Karuska22ps welcome to the world of an android user
@@sudoprophetlmao
Tell Jamie I can’t login to my Chase account
Probably because he’s getting ready to rob you as well. Then play dumb. That’s how it starts. Get your money out of that bank before it’s gone. Numerous people are being robbed by these POS.
This is most likely an id 10 T error.
the consumer is in pretty good shape as I spend 300 dollars for 2 bags of groceries
$300 for 2 bags? How big were they? Do you eat gold for breakfast?
@@hamzamahmood9565 2 paper bags, literally nothing fancy except for the butcher shop meats.
Ouch... Where do you live? Monaco? I just spent $175 at Costco and will feed my family of 6 for a week with chicken, ground beef, fish, fruits and vegetables.
There's no way you spent 300 dollars for two bags of groceries unless you filled them with steaks. I don't spend more than 100 dollars on groceries per week (for 2 people). Try eating like a normal healthy person. Vegetables, chicken, salmon, rice, grains, etc. Buy meats in bulk and freeze most of it. You obviously aren't too bright.
😂😊
With this, what's the optimal strategy to capitalize on the stock market? I'm contemplating diversifying my $400k stock portfolio to maximize returns while minimizing risk.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
*Sharon Lynne Hart* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Vote for Trump
Jamie Dimon said year and a half ago that consumers will run out of money. Never expect them to tell you the truth ,they will only tell you what they want you to hear.
💯
People have run out of money. Savings accounts are at the lowest. Highest credit card debt levels. What am I missing?
@@saiki1989 You are missing some propaganda brainwashing from the mainstream media :)
It was a reasonable thing to believe at the time, but incorrect in hindsight, conspiratorial nonsense aside.
He runs a bank, he does not run the economy
When you control the game board, the rules, the playing field and you tell the players how they’re doing.
Everyone was a genius at zero % FED FUNDS RATE 😈😈
Especially of you move the rates as per your needs, as FED is a private institution
"the consumer is in pretty good shape, they can't afford bread, but they can eat cake instead, they have options". - Jamie Diman billionaire
Nailed it!
He only really made the point that the bottom 20% has done pretty badly for 2 decades. This is probably more like the bottom 50% have done pretty badly, the middle-top 25% are hanging in there and the top 24%, minus the top 1%, are still doing fine, and the top 1% are absolutely killing it and stealing everyone else's money.
@@LoveForBluebirdsSo as usual, 75% of Americans are struggling and the remaining 24% and 1% are doing amazing. Middle class surely doesn’t exist that much anymore, huh.
Consumer is in good shape doesnt mean that people are in good financial shape, but that the general consumer is still spending. I cant believe how many people here, probably 3/4 in the comment, seem to be illiterate.
@@theonlycaulfield another cake eater. they always say the same before each disaster.
as usual a suck up interview with no hard questions.
what do you mean? the questions are very hard to answer "Do you think that the US position towards the Israel-Hamas war is the right one?" This question is impossible to answer. It is a problem with no solution. Not only is it inconceivable to come up with a possible solution to this question, it is undoubtable impossible and intractable to even evaluate if such solution is the optimal one. There are too many constraints and optimization variables in the geopolitics. If it wasn't hard, we would've had a solution "How should the US approach China" - you are telling me that this question is not hard? that's insane. Like the earlier question about the Middle East, this question is essentially mathematically intractable. You can try to simplify parts of this system with heuristics and try to model out the best solution, but this system is too complex and so difficult to analyze, how could even quantify a good answer is beyond me. The observations we receive and the control we as Americans have do not make this easy, and I don't blame Jamie Dimon for his answer
Despicable -
@@AntonioMac3301they are easy questions bc they are not answerable - ask a real question - what was your take on the Fed trading ahead of announcements ? How often do you sorely to the treasury secretary? How early into Covid did you know that the country would spend 7 trillion dollars ? How did Chase alter its investments in 2020 -2021. Which trader received the highest bonus this past year?
No follow up questions or challenging him on his answers.
Although I disagree with 50-60% of what's said in this interview I can always respect his desire to view things as objectively as possible before viewing it subjectively. A bright and calculated man who seems self-reflective. I could fault the dissolution displayed in certain statements but it's understandable from the communities he interacts with.
Couldn’t have said it better. Great objective take.
The problem is that consumers out in the job market DO have options, but wages have stagnated. In simple words: jobs have increased, but not wages. It is very misleading. Their purchasing power isn’t the same as before. This is rubbish
This comment is spot on it's called stagflation. We are becoming wage slaves with no solutions, when basic needs are priced skyhigh it leaves little money left over for other endeavors. Being just a millionaire is now considered middle class .
He knows a lot but people are not good. They are hungry and at each others’ throat on the low level
When you keep printing and printing and printing, I just don't understand how you can stop inflation.
You don’t, its called Bidenomics
The low interest rates began well before Biden and government spending has been out if control for years. Blaming one politician for the problem is shortsighted.
*YT Quick Survey:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?
None!!!! considering the present unpredictable market volatility there are over a thousand reasons why the market is a no go especially now.
Not true at all... Although the market isn't so stable at the moment, it isn't as sick as some people have made it look... In all honesty, as a beginner who knows next to nothing, I have made over $12k net-profit just in a couple of months... I'm a retiree, and I am using these extra resources to help pay for odds and ends that I want.
NO I have never used a spreadsheet.. It's of no relevance to me... For my top holdings, I follow Kelly Marie Matwick's trading positions automatically... Look her up, she's good.
Bitcoin of course... Technology + adoption curve.
@@michealweebles6258 *Kelly Marie Matwick* was just sent to jail for cheating investors.
This same guy said bitcoin was a scam, and he buys millions worth of it. How can anyone trust what he says.
Either soft or hard landings have possibilities, just be prepared for both.
A country only do well when not only the top 20 % do well, but bottom 20% as well. If the bottom 20% working class people is struggling to buy groceries, can’t buy home, drowning with debt just to get by then no matter what they say, doesn’t matter.
20% of the US population makes 70 million people. If people lose their hope to get afloat, you’d better get ready for some nasty things to emerge.
The introduction of a Bitcoin ETF marks a groundbreaking moment in the cryptocurrency world, merging digital currencies with traditional investment methods. This innovation could stabilize Bitcoin prices and broaden its appeal to a wider range of investors, potentially increasing demand and value. At the heart of this evolution is Sarah Jennie Davis, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH... Stock)
How please I'm pretty new and feel I have much to learn, I would appreciate if you show me how to go about it?
She is really a good investment advisor. I was privileged to attend some of her seminars. That is how I started my crypto investment
I have heard about her excellent trading expertise in CNBC news, guess she's more popular in United States
I realized that the secret to making a million is making better investment.
Why this disconnect?
*END OF ROME* By the end of the third century, Rome had clearly reached a crisis. The state could no longer obtain sufficient resources even through compulsion and was forced to rely ever more heavily on debasement of the currency to raise revenue In the end, there was no money left to pay the army, build forts or ships, or protect the frontier. The barbarian invasions, which were the final blow to the Roman state in the fifth century, were simply the culmination of three centuries of deterioration in the fiscal capacity of the state to defend itself. Indeed, many Romans welcomed the barbarians as saviors from the onerous tax burden *Does this sound like we are here now ?* *Taxes - Inflation - Fiscal Deficit*
What about the other economies? Which US enemy as at now is not in a debt crisis? And which economy is not printing too? Or struggling with inflation?
WOW, he stole my quote. I keep telling every young person that it feels like 1973! back when I was 15 & scared about the future..
Na, we are far from 1973. The millennial generation has lived through multiple proposed end of the worlds, and recessions.
Only difference is now a homestead will set you back a cool quarter of a million dollars.
@@sirclark4405wagers were. Much lower than do the inflation math
@@sirclark4405 what's a homestead...growing your own food..??
When he mentioned that he reads "The Exchange" what's he referring to?
In the history of business cycle, a soft landing only occurred once 30 years ago. So he is right to be skeptical.
Everytime the probably of a recession lessens like it has according to the media the last few months, history tells us the opposite is true. That it usually happens when people aren’t aware of it.
Yeah thats true, but that was caused by many other facrors. Not because of something like covid. Its like shaking a can of soda, covid is what shook the soda can and now the bubbles are fizzling down. Like jamie said the real problem is fiscal spending and america will be the next argentina/Venezuela if things dont change. But chase is part of the problem making capitalism a monopoly. We dont have a free market , we have a monopolized market thx to banks like chase. Socioeconomics!!!!
What would a hard landing look like?
recession bro@@BanterBureau
Wow, she had the most powerful banker in the world and she couldn’t find a single challenging question. Her future as a serious journalist is in doubt
What are you talking about? She asked a wide variety of questions.
And didn't challenge him on anything he said. He could have told her jokes back and she would have accepted that.
@@plica06 Why would she challenge him on anything? What do you even mean? Dimon is there voluntarily. He doesn't have to be. This isn't a police interrogation.
are we still trying to land?
Sounds like he’s running for president
I’d vote for him over the other two losers….
@@user-fb8bo3ys2f My dad works as an assistant director in one of he top 4 banks. He said last last week one of the guys from the feds came over and had 2 hours meeting with all the CEOs and some of the directors. His bboss told him that they (the feds) will not plan to cut the rate until fall. This is what he told us over dinner but who knows.
Was telling my Dad the same thing the other day kind of crazy to see someone else say the same thing. Edit: A lot of his interviews seem to be more involved in geopolitical and societal factors rather than economic issues. Seems as if he's prepping campaign points for sure.
I'd elect a billionaire banker over a billionaire fraudster any day
a banker? lol
Dimon: I took so much money, there's no way you're getting out of this!
Is this an ad?
for the corrupt and criminal regime
Looks like they’re prepping him for presidency.
Thanks 4 Great Interview! ⭐️
That was one of the best interviews I ever seen, probably edited but good job
Where you get full interview for free?
I would argue with Jamie Dimon’s opinion about Americans financial health as surging taxes along with insurance costs are crippling most Americans and then we have basic inflation of goods & services that are adding to the pain. When Americans don’t have the finances for basic needs it’s not likely they will have discretionary funds to keep the economy rolling.
Nice World hes living it.......
Lol he eats the best meals every day and flies on private jets and gets chauffeured in a rolls Royce wherever he needs to go. Of course he’s living an amazing life. But regardless, dude’s old and won’t be alive for much longer. All these parasitic boomers will be kicking the bucket in the next 10-15 years.
Love how the editor-in-chief ask questions.
Great questions, solid interview
And yet our purchasing power has diminished severly
"Free democratic western world". He forgot to put on a clown paint.
I'm a retiree, and I see that my pension doesn't change much. Prices change a lot, and for the worse. Burger-flippers are making $20/hr now, so no more fast food for me. My bills are closing in on double what they were 7 years ago, when I retired. My property taxes are going up because of all the little add-ons, which could eventually force me to sell. Eggs cost 5 times (!) what they did when I retired. I've cut soda, frozen foods of any kinds, juices, beverages, etc. Everyone seems to be getting more money, consideration and attention, except for people like me.
No one is getting more of anything except the frauds like in this video
People make more money because money loose value very fast. If bidon keeps printing like he did until now, prices will double again.
Does your pension adjust with inflation?
Get a job as a Burger flipper, you get $20 / hr and free burgers! win win.
@@JEEDUHCHRI As I say, my pension does not change much, but it does change, i.e., there is a COLA. It's just not keeping up with inflation, and that's part of the point.
Yes, the government spending money from thin air is supporting or buoying the present economy but the piper must be paid
I think a lot more than the bottom 20% aren't doing well. People are working more hours and the open jobs aren't well paying.
Good thing I already bought calls. Thanks Jamie.
"sorry i didnt have time to write a shorter email" is the best thing I heard from Dimon
5 days in the office = old thinking
I like this guy. He speaks in a super layman fashion for someone in his position and not afraid to speak pretty bluntly
In the past consumers used cheap credit to subsidize their income to continue lifestyles above their means. Now expensive credit to subsidize their income. Inflation makes it difficult to keep up with cost of living. Many do not want to cut back or change lifestyle are raiding their retirement accounts early or taking our home equity loans.
Great interview. 👍
He is definitely running. Make America JP Morgan
not happening
Mr. Dimon will be the 1st in the line looking for government handouts when banks get caught making bad decisions. We place too much emphasis on what bankers say.
18 years ... relatively young when he started, and was a bank ceo before his current job. That's a global exec right there
12:03, any one know what "Exchange" and "FT" he is referring to? Is the a WSJ section or a different media?
Financial Times
Western oligarchs' opinions are always so transparent.
Interesting perspective, Dimon, let's see how it unfolds 🌐
When he says consumer is in good shape they aren’t. The personal savings rate is the lowest number ever. 3%.
Consumer being in good shape means that peoples' spending levels are still high, not that their savings are high. People are spending morevon credit currently.
Fine Man God Bless Him . God Bless USA
If you were sitting on over1 trillion in commercial debt this is how you would sound.
I already looked for your videos to update them! Our government has no idea how people are suffering economically these days in the world. Thank you Ms. Melanie Rose Caparro, imagine investing $6,000 and receiving $14,000 every 8 days. It is important that everyone prioritizes investment
I Thank God for Bringing Mrs Melanie Rose Caparro brokage service into my life, I'm happy for God's grace have found me ..Amen❤️❤️❤️
Never to this day would i have though to hear someone speak as if they were those unaffected by the Great Depression in the 1930s. This man is just that.
He is correct on the issue of deficits. If you keep marketing this debt, you have to attract buyers. You must pay attractive interest to keep debt buyers happy.
So many ignoring his main point about the economy, Massive fiscal spending and QE hangover. I cannot believe how so many ignore this deficit spending and its effect on inflation. The public has become so conditioned to look for the Fed to play the cavalry and forget how limited they are when you have deficit spending like this. At least Jamie Dimon ‘hints’ at the real problem.
The consumer is not in good shape. Prices/rent is far too high Sure the economy is good, but the average person is not doing economically well.
To be fair he is an expert on crashing an economy thru personal greed as his company was one of the major catalyst to the GFC crash. Somehow they got richer and didn't go to jail.
Good job, Emma!
Who’s gonna carry the boats?Hard landing. Stay hard.
In the English Channel?
Great interview. Jamie sure seems very genuine & honest. However every CEO has dark secrets that are never spoken publicly.
What insight…
I don’t think that is necessarily true. You don’t get to the top without stepping over a few people to be sure, but I don’t buy the current narrative that every powerful person has a bunch of skeletons in their closets. I think the truth is much more simple than that. Powerful people are human just like the rest of us. They have families, they have feelings, they make mistakes, they do good things, and they sometimes do bad things. The mistakes and bad things that powerful people do just have bigger impacts and receive greater scrutiny than the problems that average people create.
jamie did interviews like this while he was running all of Jeffrey Epsteins banking
I don't know what jobs market he means most of the jobs are low paid the high paid are scarce and most companies are making big redundancies
awsome video
I respect Dimon and while the comments make me think listening will be a waste of my time, Ill give it a try.
so what do you say now?
@@aviralgupta393 He said nothing..
LOL "Who keeps you in Check." Jamie "Well. . . My wife."
The guy runs the world economy and thinks people are doing fine
Thank you, Mr. Future President.
Dimon is a great executive.
Dimon is a good man unlike those guys at Blackrock
I cannot understand why this guy gets so much respect.
😂
I assume he is a very charismatic and capable psychopath.
@@enkibumbubingo!
Jealous much?
Jaime Dimon for President! 🇺🇸
What a great guy ! 👍
It's hilarious that he says he finds war horrible but then literally says the US state talking points.
In other words low income folks can afford food with their EBT,middle income folks can get their Amazon goods within a day and the 1% are raking in billions of dollars!
5:28 why was this edited when Dimon spoke about Israel?
Wish this guy was running for president
Nice to see some common sense from an American… great man
🤣
You mean the guy that manipulated the global gold market to make $10 billion of illegal profit. That is the guy that has common sense? Jamie Dimon is a super grifter, stealing pennys on every transaction, adding no economic value, his company is a parasite on productive Americans
Like him or not. Dimon has evolve over time as a shrewd businessman / CEO with a pulse on “global” economy.
getting trillions in government bailouts paid for by the working man so he can continue ripping off the working man. never realised shrewd businessmen meant organised crime.
He is a super grifter. Despicable human in the actions he allows his henchmen to undertake
Man I would love Jamie in a cabinet role really making future seeking policy this man is Smart and sees the full picture
Wow. It goes to show how disconnected these 1% ers are with how much consumers are struggling, middle class is being wiped out, massive debt, etc. Unbelievable.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
@@spacecadet6who is your advisor please, if you don't mind me asking?
*Gertrude Margaret Quinto* maintains an online presence. Just make a simple search for her name online.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
The difference between Dimon and Elon, is that Dimon is a smart charlatan.
Legend
Which President will listen to the experts?
After he said Bitcoin is a scam then bought a bunch, I dont believe a word.
I really wish Jamie Dimon would run for president
I chocked at the line about consumer being at a good place, like we are ignoring the crazy inflation as a whole…😅
High inflation means cooling labor market which means more layoffs. Want to see unemployment in the 4% range not 3% range.
The world needs a hard landing, hard landing to stay hard
the american and canadians are in for a rude awakening if they think things will be rosy for the next 10 years as it has been for the last.
The correct number of office days is zero.
“The consumer is in good shape” meanwhile the middle class is trying to escape a burning building!