Jamie Dimon on the Economy, U.S.-China, Overseas Wars and More: Full Interview | WSJ
ฝัง
- เผยแพร่เมื่อ 20 พ.ค. 2024
- JPMorgan Chase CEO Jamie Dimon discusses his concerns about the future of the economy, ‘Bidenomics,’ overseas wars, the U.S.-China relationship, AI and more in a wide-ranging interview with WSJ’s Emma Tucker.
Chapters:
0:00 U.S. consumer
3:21 U.S. economy
4:46 'Bidenomics' and the Fed
6:11 Banking crisis
7:56 Geopolitics
12:41 China
15:31 U.S. politics
19:44 Near-death experience
21:06 Leadership
22:46 AI
26:17 Brick and mortar branches
29:27 Checks and balances
33:20 Retirement and final questions
#JPMorgan #Banking #WSJ
Local politicians impatient with Washington’s actions against Beijing are blocking Chinese land purchases, factory plans and research: on.wsj.com/4dkjXM0
Foolish leaders without vision is the biggest threat ❤❤❤
That's how USA will do down, while China allows Tesla to access data for his autonomous driving rollout. Great to know.
Billionaire-owned press outlet (Jeff Bezos, if you didn't know) unironically asks billionaire financial criminal who should have been tossed in a CIA black site for his conduct leading to the crash of 2008 how the economy for everyone else is doing. Yeah. That sounds legit. And you wonder why nobody but the ignorant and aging Baby Boomers bothers with mainstream media anymore. We see you.
Consumer in good shape. Yes on borowed dollars. And economy on imported goods. Jamie is. Snake oil salesman 😂
gotta laugh when he says the consumer is okay and has extra money. tell me you don't do your own shopping without telling me you don't do your own shopping...
If you’re not in the financial market space right now, you are making a huge mistake, I understand that it could be due to ignorance, but if you want to make your money work for you prevent inflation
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Opinions on the market diverge; some claim overvaluation due to rapid gains, while others cite strong economic fundamentals justifying high valuations. Raises concern for my $600K equities going 8% up and 20% down. Should i hold on or sell off my positions and hold cash?
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Jamie talks like a seasoned politician, rather than an economist banker.
When u get to C positions ur more a politician than anything else
Moreso like JP Morgan being so large, it IS an influence on macro economics and minute changes in geopolitics influences J.P. morgan in massive swings too, which is what Dimon seeks to avoid, hence lots of “we need stability” talks
He reminds me so much of Biden :/
Given that JPM is a massive financial institution with global operations, it’s expected for Jamie or any CEO to understand macroeconomic, geopolitics, and social issues in the world.
Would rather have dimon then biden or trump
1:07 "The consumer is in pretty good shape right now". Huh?
Yep. And we're still spending that Covid money. Amazing how long $1500-$2k can last...years!
He says people are still spending money from covid. 😂 This dude is delusional lol. Covid was in 2020. We're half way through 2024.
Yeah lost me after that sentence 🫠 Covid money was gone before it cleared my account 😂
These ruling class oligarchs are so out of touch with our indentured debt servitude system that keeps americans broke royally robbing them of any real wealth!
First ask him who the consumer is ?
Market declines, soaring inflation, a significant increase in interest rates by the Fed, and rising Treasury yields all point to additional losses for portfolios this quarter. How can I profit from the present market turbulence? I'm still debating whether to sell my $125,000 ETF/Growth Stock portfolio.
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a CFP or other professional for advice.
Yes, I have been in touch with a CFP ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
my 401k growth has been stagnant since the 2019. I wouldn't mind consulting the advisor who guides you, I really want to grow my retirement fund since I could retire in 3 years.
That's a wise decision,. Kristin Amy Rose is a household name to many average and rich investors. I recommend her
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The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
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Good interview, sir. Now, could you please forgive my $34 overdraft fee?
No
All u gotta do is call them up player
😅😅
Just cancel yoy overdraft and wait for penalties you pay on you missed direct debits 😂
If you said that with a pompous English accent, it might just work.
The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
Harder for boomers/senior citizens? Are you joking?
This is America, we have faced far worse on global scales. Believe in yourself and focus on improving youself, your business and our Country!
@@taylormx721 They are bots pushing + peddling "angela" above.
I think Buffett's approach to compounding stocks in the long run, ie letting your winners run, might help you, with your retirement worries but yeah I know what you mean, don't worry all things will work out in the end. The universe has your back 🙏🏽
“Tougher for Boomers”, that’s a new one
Jamie Dimon is very knowledgeable about most everything except for how well the average middle American is doing as he paints a rosy picture that couldn’t be further from the truth but then again how would anyone expect a billionaire banker to relate to a segment of America that he doesn’t live in.
I guess if you are having it bad, you are not middle class American
@@shashwattripathi4559I guess you are a JP Morgan investor and clueless about anything related to Class
In other words, he's a fraud.
They know ! They're planning their next move.
Agree. How could a billionaire with his own plane possibly understand anything about a segment of America that he doesn't live in?
I saw the same guy speaking as CEO of JPMorgan earlier today
JPM Chase
😂
Because he is CEO of JP Morgan
@@rogerburn5132 Here he's led Chase not JP
😂
chameleons can be disgusting.
It's actually an insult to true chameleon, which has a spine.
Can’t tell if he was interviewing as Chase CEO or 2024 presidential candidate?
He’s not old enough to run unfortunately.
@@Flipflop437 now days, 70 is required 😅
Alzheimer is an iron requirements, you can't run without forgetting something.
He doesn't need to do that; we he talks the president listens to him. Presidents don't do much anymore except sign things put in front of them.
2028, and he will win...
Interesting. When it comes to Israel Gaza war - he said he is not a military expert and can not comment expect for people in Israel has the right to defend themselves. When it comes to Ukraine Russian war, he became a military experts and shared strong opinions. Hmmm.
Somehow this sounds very familiar to me. Wait a minute, I was zapping through the mainstream media this morning.
Brought to you by AIPAC
The standard US double standards on this one.
Huh? How are these two comparable?
No, he didn't talk about the military. He talked about geopolitics, Putin and NATO. How do you think HAMAS or Israel are a threat to any of those?
A sense this guy hasnt lived down town anywhere...
"jobs are plentiful" - yes, ones with salaries that barely leave you surviving are
Did you miss the part where he literally talked about the lowest 25%. Learn to listen
Gotta work hard at developing a skill that compensates. this guy probably worked 90 hours a week under some of the highest stress situation for 25 years
@@Currentlyundiscovered1000No he hasn’t😂 he’s a business man he’s never worked a real job a day in his life. Taking calls all day and going to meeting isn’t real work
@@JmanHash99I am still in university, but my father is a white collar executive of a small company. I really don’t think it’s fair to ignore the challenges of those positions. For most of my life my father would be working about 80 hours a week and sitting at an office didn’t stop him from generating back problems either. White collar is not back breaking labor, but it’s real work that not everyone is suited for and that gives many many white hairs.
@@JmanHash99 that's borderline antischmitty, dude!!! 🤣
He sold his shares for the 1st time ever! Let that sink in…
1st level thinker, genius
Yes 150 milion of them.
@@rogerburn5132 And he Purchased Gold.
He know BRICS and the Global South are ditching the USD due to Sanctions.
They are getting ready for 2008 crisis 2.0
@@ikeanderson6466really?
"They still have excess money from Covid". I must have been ripped, my covid checks were spent on mortgage/bills and food as soon as I got it.
he's talking about high-end bankers
I pay hundreds of thousands each year in taxes and I never got any covid money.
My man lowkey sounds like a competent version of Joe Biden
and he will sell you out in 2 seconds. If this propaganda fools you, you need to get your head out of the sand
@@retrodripsupport7510what propaganda?
@@DMSparky He has no idea what he's talking about. Just someone who hates all bankers no matter who they are. Jamie Dimon is really smart.
@@Zordiak I thought everything he was talking about was pretty logical.
@@retrodripsupport7510 crook trump not propaganda?
I think he's used all the buzz words available without saying anything
Debt is not 60% of GDP, more like 120%.
What is USA GDP amount?
over 120%
GDP 28T
Debt 34T
GDP grew via inflation so ration shrunk back to 120%, was higher 130% last year.
I think GDP and debt are bith rigged. GDP is much lower and debt much higher..
60% sounds better. Which tells you everything you need to know about him.
Who still has excess money from Covid??!
Nobody
multi-millionaires that fraudulently accepted PPP.
@@pray4ray666
And ERCs
Assets are more valuable. If you own a home or have stocks then you are a lot richer on paper.
I do, invested all my unemployment and stimulus checks and have nearly doubled
Top 1% always have a smile on their face
Dan: How much does one need to earn or have to be in the top 1%?
This is THE END of first time home ownership and the slow death of the middle class in a generation.
It does not have to be this way. I'm not saying that doing poorly is a choice. But to not find a way out of a hole is.
People need mentors. People do not want help from people who can help when they can simply complain and get help.
What? Housing, rent, and borrowing are through the ceiling and are unaffordable for a large segment of the population. If fact housing has passed the Rubicon of affordability. Wallstreet is purchasing a large segment of the available housing, even lot rentals for mobile homes, and driving steep increases in housing costs. Our 401k's are financing the demise of the mid-class as hedge funds use this money to effect the above takeover of housing. Wages nowhere near keeping up with these increases and entire generations of Americans will not be able to own a home, the stable of the American dream. Transportation and food are also increasing faster the wages. The mid-class is on borrowed time.
@Steve8421: Sad reality. What can we do to assist others? (typo? 'stable'? Or do you mean staple?)
I thought about this, your words here, below: I do not live in a world of statistics. I live in my world. I need to fix MY life, and other need to do the same. Do you want to fix 'the mean'?
You wrote:
"It now takes about $111,000 in annual household income to afford the mean monthly cost of $2,775 for housing. Up $30,000 per year since 2019. Unfortunately the mean household income in America is little more the $76,000 annually. Which translates into the middle class can't afford to live, own a home, build equity or provide a quality living standard.
What's "special" about Jamie is that he always has the best answer.
Ask the man-in-the-street. They will likeky tell you the exact opposite of what they are experiencing in Dimon's "free and democratic world."
He struggled with Israel question, but didn't flintch a bit giving his position on Ukraine war and his analysis. The long arm of Tel Aviv has even got Dimon scared
That’s because United States 🇺🇸 treats Ukraine people as equals, Palestine people as …..not.
He works for juice. What are you talking about?
He didn’t struggle. Both Israel and Ukraine have the right to defend themselves.
@@codyfernfan6274 I am not sure if Israel has the right to kill more than 35,000 innocent people.
Others here noticed this and may lack your courage to state so.
Unemployment is low cause we are all working 2 jobs.
Literally not how it works.
@@alan_davis literally unable to recognize jokes.
@@alan_davisdummy
One minute into the interview I had to mark this man down for him stating “the free democratic world”
There is not free democratic world, they are all under US coercion!
Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊
THE CONSUMER IS NOT IN GOOD SHAPE AND NO ONE HAS THAT COVID MONEY IN SAVINGS
exactly my thoughts. All the Covid money has long since gone into the pockets of the rich, and there are plenty of studies and evidence to back this up. But a banker would never admit that.
Because they spent it instead of investing it... whose fault is that?
It now takes about $111,000 in annual household income to afford the mean monthly cost of $2,775 for housing. Up $30,000 per year since 2019. Unfortunately the mean household income in America is little more the $76,000 annually. Which translates into the middle class can't afford to live, own a home, build equity or provide a quality living standard.
There is no such thing as middle class. There are just rich and poor in America.
If you can't afford to go without 6 months to 1 year of no income coming in then you are poor.
Don't think that just because you can buy a nice are and a nice house that you are middle class.
Rich people are worth millions and even Billions of dollars.
You can find a different, higher paying job. With unemployment under 4% you have the ability to find a job that pays more. Staying where you are is convenient but you will not make as much. Switch companies. The US economy is awesome when compared to other countries’ inflationary pressures.
@@BicoastalJethi JP Morgan bot 😁
It has been designed by the Democrats, even though I used to belong to the democratic party, until I verified the partnership between the democrats and the corporations
@@BicoastalJet Didn't tech companies including tesla just lay off workers.
Nothing is more inspiring for young people than a pep talk from a banker worth $2.1 billion! This video should be played in every high school.
Jamie Dimon knows what is. Good for JP Morgan forget about the rest 😂
The Consumer is not in good shape right now.
Emma Tucker, very well constructed interview - credit to you both for sharing!
This guy is the perfect frontman for the global elite. Fiercely intelligent and extremely focused on world affairs. Some people are just built different.
Politician tier answers but at least competent politician tier answers.
The most articulated men in the world Jamie Dimon 👏👏👏
If you analyse it, all his answers only lead to 1 thing, better economy = good for the bank
oh wow really
Things are great? A family of 4 is paying over $11,000 more than last year on the same products. Out of touch ELITE!
All I heard was "let them eat cake".😂
I think he knows most of the 6 trillion dollars didn't go to average consumers.
It’s so difficult to identify the expenditure authorization and or approval personal and or entities!? 🤔🙂 especially for graduates post employment.
Consumer is in HORRIBLE SHAPE
Only if you’re poor. That’s what he was saying
Yep. Maybe you’re in the bottom 50%. He mentioned that those guys are having a very tough time. Best of luck.
Then why has consumption not gone down?
Thanks for broadcasting to the world that YOU are in horrible shape.
not everyone’s poor.
Whatever this man says, do the opposite. A bank that charges your 27% interest, isn't your friend
Dimon is a genius.
27% interest on what? Are you talking about credit cards?
You nailed it. He is an enemy of the State.
I found a way how to get charged 0%. Don’t borrow.
And how's that working out for you?
😅🙇 ขอบคุณ มากครับ ทุกท่านแปลภาษา
Jamie Dimon makes conversation easy to understand. I enjoy listening to him.
“We should do everything we can to keep the world stable enough to reap more profits” - Jamie Diamond
Consumers are in pretty good shape he says?? Where?
My wife worked at WAMU when he took over and closed it down. It was mortgage handling company and her refi job had plenty of mortgages to handle.
if defends JPMorgan, don't expect him to defend the citizens
Thank you.
Ah-ha, listening again in reverse, I actually hear what I wanted to know. Gratitude JP Morgan & CEO Jamie.
Watch all the politicians start advocating for the TPP all of the sudden.
Consumers in great shape 😅
"The consumer is in good shape"
Hahahahahahhahaaha
He manages the largest bank in the world. If he say, the consumer is in a bad shape, stocks would plumped and people would get their money out of the bank.. He has to be confident, even if it´s not true, and i can´t be even mad about it
Some plausible explanations:
you were not his intended target audience.
you were the 15% he mentioned that were not doing well.
your Democratically elected government decided to trade war to collect your money and put it in the wallet of the CUSTOMS.
@@blacky4947 I agree but we also have to consider the modern consumer. Is it the economy screwing the consumer? Or is the average modern consumer screwing themselves over? For sure a lot of the prices for basic necessary needs are inflated, but is the average consumer smart with how they spend their money?
If you don't have data that proves otherwise you should just it. He's the CEO of the largest bank in America, I'm sure you know more than him on this.
@@zfr33ze87 A friends ex wife was getting evicted from her apartment where she lived with a child, she also got her $700/month grand cherokee repossessed. That same month she spent over $700 on temu. Another person I know got 9k between the child tax credit and work credit this past tax season. He bought a 12k boat with that check plus 3k he got from friends and family as a loan. 2 weeks later he ask me for $200 to buy groceries, I said no so he got 2 new credit cards, did the groceries with the first one and bought a $600 gas tank for the boat with the second one, he makes 15.50h . So… you tell me
Definitely been briefed on this questions before this interview
Why everyone else didn't get raises for 25 years? He sure did look at his pay. He's no more than a smuk.
Exactly.
Greattt
He lost me after "The Free Western World" 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Thank you
Thx for this content, I was supposed to purchase your subscription for commercial use as part of ethical data consumption of mine, however it is not in practice due to exhausted resources.
Acknowledge this resources with thanks WSJ
Anybody else struggling immensely despite what this guy says?
Great interview. I already watched the shorter video.
We're still using money from COVID? 😂 Ok. I believe you Mr. Banker.
he is also the person a few yrs ago who called BTC a scam and will fire any of this staff who bought BTC.. and now? then he shld fire himself 1st? 😂😂
Anywhere there is money Jamie is there changing options
High quality content. Brilliant.
When I hear this conversation, JP Morgan Chase is a charity organization not a business… everything for the community. Corporate populism. Business is about profit for shareholders, just need to be honest
Not impressed
23:15 "and also we put AI and data together because they're directly related" - Top G of finance
I didn’t expect to understand or like this guy as much as I did. Wow I’m going to look into him more.
Amazing interview!
Love this!
Trying to paint a rosier picture for a pretty disastrous situation in the making.
Time to push back!
I don’t believe he’s got a real perspective on the state of the country.
Great interview
Consumer on borowed dollars and economy on imported goods. Jamie is Snake oil salesman 😊
That's an insult to actual Snake Oil salesman
@@jluther1755 Exactly I agree with you 100 %.. Jamie is a lot worse. And I have to apologise to any snake oil salesman 😂
Say what you will, but I enjoy Mr. Dimon's talks.
Exceptional perspectives.
The foundation of the growth is fiscal spending?
Consumer spending is one of the fundamental tenants of GDP and economical growth… and as a consumer based economy (the biggest factor)… I mean, I don’t understand why is phrased as a question..
Jamie is very reserved in his comments. But we know he wants the nation to be better led.
Pax americana ... Basically peace 🤣🤣🤣
Praised by Warren Buffet. One of the greatest bankers in the world.
Excellent
Nobody is keeping this man in check.
Nice & interview
Clever chap.highly seasoned experienced fellow. When he talks people listen.
Thank you for putting forward your main views and opinions on the economic trend of the entire world in the video. Thank you.
I really appreciate your presentation of these views in your video: I now have gained a greater understanding of the views, concerns you raised, and I am also trying to fully understand the deep reasons behind the concerns you have raised although the underlying reasons behind the concerns you expressed in your video are relatively complex.
I look forward to having the opportuity to have further exchanges and communication with you in the future. By the way, I am also a music lover, I especially like classical music.
Vivian Zhang
Did he Jamie pop an Adderral or two before sitting down for this interview?
A good American citizen.
This is so relatable and true lol. I remembered how tough it was before I hit the $100k mark 37. I am 56 today with over $2.8 million in my retirement nest fund alone, didnt take me any stress to get there. Maybe its because my CFP is reliable, but point is, it was way easier from there.
I'm headed in the same direction, and it's not that difficult. Perhaps too complicated for beginners, but that's why it's best to consult an experienced market strategist.
Could you be kind enough with details of your advsor please?
Right now, we stand at a crossroad of possibilities in the market where the boundaries on what we can achieve is not just dictated by the Fed, or the world around us(war, inflation). There's always going to be recession for some people while others amass wealth, think about it.
I think this is a time where financial advisors may come in handy for everyone, not just newbies
IMO, financial advisors are the most sought-after professionals after doctors. My portfolio is well-matched for every market season and just yielded 85% from early last year to date. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
@@emmaarmando bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
‘Gertrude Margaret Quinto’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for the info, i found her website and sent a message hopefully she replies soon.
The military industrial complex must love this guy! Warmonger?
Just trying to understand your reasoning. So, RUSSIA invades. Saying we shouldn't allow Russia to win that war, and starting about 9:07 in this video, Dimon makes the case why and very well, that makes you a "warmonger?"
I took a philosophy class many years ago. Something the professor said I thought very profound. Before tearing down someone's point of view, first present it as well they did. Otherwise, you are just making straw man argument. Rather than just go on the ad hominum, an intellectually honest discussion would be listening to what Dimon actually says starting at 9:07 and dissect it for us from your perspective.
@@twoking10 If you heard of Cuba crisis, you would understand this "invasion" has been done by US many times, and US has sanctioned Cuba for decades.. The dilemma here is if you have principle, you cannot really accuse Russia without accusing US. This Ukrain war wouldn't have happened without NATO expansion.
Great interview. Class guy. Amazing interviewer.
I feel I am better equipped having seen this.
Some of what was said is veiled from what he thinks.
fake rich guy lol
@@2000dpdpdp Please explain. Thanks.
Thanks for the moral sermon Mr Banker.
Amazing interview for a REALLY smart man!
A great ambassador for USA. So much wiser than the politicians,