The U.S. Economy Enters "The Most Dangerous Time" in History (Jamie Dimon Explains)
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- čas přidán 13. 06. 2024
- Jamie Dimon (CEO of JP Morgan) is of the opinion that the economy is at its most dangerous inflection point ever. The revered banker was interviewed at The New York Times DealBook summit, where he discussed inflation and interest rates, as well as the war in Ukraine, and geopolitical tensions around the world, particularly between the U.S. and China.
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★ ★ CONTENTS ★ ★
0:00 A Dangerous Time for the Economy
1:50 Government Stimulus Powering the Economy
3:16 Why Americans Are Now Struggling
4:19 Are Interest Rates Going Down?
6:40 Global Conflicts Are Here
8:57 Will U.S. and China Tensions Escalate?
11:24 Jamie's Thoughts on China and Taiwan
Brandon van der Kolk is authorised to provide general financial product advice in Australia and is an Authorised Representative (Number 1305795) of Guideway Financial Services Pty Ltd, AFSL Number 420367. Any advice is general & does not consider your financial situation, needs or objectives so consider whether it's appropriate for you. Read Brandon's Financial Services Guide available from guideway.com.au/NewMoney.pdf. Past performance is not a reliable indicator of future investment returns.
Contact email: hello@newmoney.contact
Note: I do not have the ability to answer all emails, but know that each email is read. If enquiring about sponsorship, New Money is currently only seeking sponsorship from established brands.
Thanks for watching guys! I appreciate it. :)
He doesn't appear to understand how bad China's economy is going right now.
Not a slowdown, but a crash.
I pity the people who missed out on the rally today and this whole year because of watching channels like these, who always create negativity in order to generate income from selling their great courses
Living paycheck to paycheck💸 is telling you that we are going to face financial cataclysm😔... 🌎💘💰
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
@HarveyMark-gk1omvintage automobiles.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
Understanding how to grow your wealth has never been easier than it is today, thanks to the accessibility of skilled portfolio advisors who can guide you through diverse asset markets. Predicting the impact of fluctuating dollar values on assets remains a challenging task.
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
Mind if I ask you to recommend this particular coach you using their service?
Credits goes to " Vivian Barbara Mui " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
The United States as we know it is no more. All signs point to 2023 being a year of significant economic hardship for the entire nation. Put your cash to use straight away to increase its value. I was aware that I needed to invest. I had no idea how quickly a few thousand dollars a month would go up. Though it is. Since 2020, I've made about $600,000.
Congrats. Your ability to control the whole risk profile of your investments and prevent irreversible capital loss will be your actual financial unlock. A plan must be in place to take advantage of opportunities to profit when they arise.
When you first start off, you should get advise from a fiduciary counsellor if you don't want to crash and burn. They adopt a profit-driven approach based on individual risk tolerance because their entire skill set is built on simultaneously trading long and short.
Fiduciary counselors have access to exclusive information and data sources that aren't available to the broader public. By heeding the guidance of my fiduciary counselor, “Carol Vivian Constable I managed to generate earnings exceeding $820,000 during the third and fourth quarters of 2022. I have high expectations for continued success.
Fiduciary counselors have access to exclusive information and data sources that aren't available to the broader public. By heeding the guidance of my fiduciary counselor, “Carol I managed to generate earnings exceeding $820,000 during the third and fourth quarters of 2022. I have high expectations for continued success.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
People in the United States and other nations are currently facing an extremely severe scenario. With rising rates of unemployment and inflation, the world economy is currently experiencing a severe slump.
It appears like the worst time is now. The markets are quite volatile as well. I began investing a while back when the market was a little higher, and as of right now, my losses have over 60%.
I'm self-employed and have many sources of income as opposed to having a full-time employment. I live within my means and adhere to the same spending plan regardless of my monthly income.
Engaging with a professional investor is the best option. Having worked directly with a CFP named Emily Lois Parker I can say with certainty that they possess extraordinary skill. After a slow start with a $150,000 portfolio, she helped raise almost $580,000 in just 18 months.
Wonderful! Could you elaborate further?
She's Sec verified. You can find out more and also reach her through her web
I've been reading lot of articles mentioning how worthless 'cash savings' are in this current unstable economy and as a rookie sitting on over 300k cash, do you suggest I invest in real estate, stocks or gold?
A consistent 5% return from the bank and US securities sounds better to me than worrying about losing your money if the stock market falls. Also consider financial advisory with the size of your budget.
@shultz4334 Agreed, instead of following rumors or a hearsay, I adopted the service of a CFP early 2020 amid covid-outbreak and so far, I've attained my most significant financial milestone, barely 15% short of $1m after subsequent investments.
@@velayuthman your expert/F.A must be really good, do you mind if I look up this person assisting you please? i've been holding on to a bunch of stocks that keeps tanking and i'm fed up, if to sell or not
I don't comfortably throw recommendations around, but I've been working with "Monica Selena Park". God, she's brilliant! You should do your due diligence online cos I'm sure there are others who are good, Just that it gets overwhelming finding who's suitable
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
You know, I've been digging into various trading strategies, trying to find the golden ticket to consistent profits. It's a wild ride out there.
Absolutely. I've been exploring too. It seems like every strategy has its moment of glory, but finding one that consistently works is like chasing a unicorn.
It is always good to have a financial plan. I work with a professional planner and fixed-income strategist in NY. The fixed income portion of your portfolio won't simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
Very true, people downplay planners role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license-fiduciary advisors. Thankfully, I came across someone of practical knowledge, and decades of experience, I liquidated 200k of 325k from my 401k it has yield nearly 1M after subsequent investments so far.
How can I join in? I will be happy growing my money while giving a few of it away to charity, giving back is as good as receiving.
I've shuffled through a few experts in the past, but settled with Lucy Rose Carter. The strategy they use is recession-proof, more specifically profit-oriented , and most likely successful and learning from her visionaries i can certainly provide valuable insights.
One common feature among Jamie, Ray, Warren, and Charlie is that they are all really big shots who are able to speak really simply. They are able to reach the average Joe while at the same not dumbing down the message - the profound, unbeatable insights are still there. I have a huge respect for that. I absolutely loved the sugar high metaphor.
He also has an ANGLE. He has to paint a picture that leads customers to behave in a way that benefits JP Morgan. He does not have a history of selfless general concern for the population.
Exactly! His political discussions were biased and incomplete, he is clearly trying to push forward a particular agenda.
Basically he says how dangerous things are but that his company is solid and prepared to navigate all the difficulties. The foundational underlying theme when JD speaks publicly is that if you are smart then you will partner with JPMorgan. He doesn't come right out and say it, but it's like writing "2+2" instead of writing "4". Big surprise coming from their CEO.
Your editors are doing a fantastic job. So many cool animations! Thanks for the great content.
As someone said :”history is full of events that never happened before”.
Buy quality stocks and leave forecasts to economists and astrologers
I love these kind of videos of yours! Macro economy and specialists speaking there opinions about the current state of the economy, it's really interesting!
Love the vid.
A suggestion, you should look into stopping the bots from spamming your comments with their scams.
I would really like to see discussions between people in the comments.
really good animations at 3:50 , good job man
Warren Buffet said "Be Fearful When Others Are Greedy And Greedy When Others Are Fearful"
Yeah but there's fear when we are in a bubble, sill doesn't mean buy when you're in a bubble. You should assess the enviroment and buy solid companies at the right time.
BABA for the long haul? 👀
@@raymondnelson137 lol China will confiscate all American holdings when they invade Taiwan, so no
short snp right before the crash >> profit???
Jokes aside wait for a year and put your money in a bank with good interest rates
There’s one key reason why the Fed might want inflation to remain: it reduces the value of govt. debt, and we have a lot of it… so logically a period of high inflation would help that burden enormously. And people have short memories - interest rates of between 3-5% is the norm, not 0-0.5% which we’ve had in recent memory.
This guy gets it
People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
Off course, there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and ive pulled in a profit of approximately $950k from an initial $390k. In reality, all I have been doing is getting professional advice.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
There are a lot of independent advisors you might look into. But i work with Viviana Marisa Coelho and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Fascinating that realizing that we can’t forecast well doesn’t seem to deter us from trying
how else would all these guys have jobs if they cant speculate
Its why people pay for education
I really enjoy both the insights of Jamie Diamond and yours Brandon. Yes we are in a dangerous time but you both impart a balanced view.
Fantastic video, man.
Good article
3:43 Except most mortgages in the US where 95%+ prior to the rates starting to go up were 30 year fixed mortgages and the increase in adjustable rate mortgages after the fact generally adjust on a 3/5 year timeline so won't be changing until 2025-2027.
Dimon has been on a continuous political campaign since 2008.
He's trying to manipulate the economy in his bank's favour.
This was great. Thanks
Very insightful. He is thoughtful and speaks from decades of experience. Thanks for sharing
thnx
WTI Crude is trading at ~$70 per barrel, why is the graph in 7:56 showing +$100?
Thanks for the update
With great insights from Brandon, I’m sure I would never be left behind. That’s why I even subbed this page on FaceB00K
Superb content
Concerns about a potential downturn have left me feeling uneasy. I'm uncertain about my $600K portfolio strategy, given the ambiguity surrounding a downturn and the fact that interest rates increase has been halted
I completely understand your reservations. Navigating market volatility can be difficult. It may be good to evaluate several possibilities for your portfolio and explore a diverse approach to risk mitigation. Furthermore, speaking with a financial counselor may provide tailored insights depending on your specific position.
Who is the coach that provides guidance for you? I urgently require assistance; my stock portfolio is stagnating, and I need investment advice for retirement.
Great video: short and very informative. Thank you
Why are people not more worried when former CEO of world's largest bank confess why he's selling 1 million of his shares i JPM?
Exactly.
The problem is the wealth gap. The country itself is rich. The top 10-15% of the population is wealthy. Most of the bottom 80% are struggling with rising energy, housing and food cost.
Dont know why Jamie is telling us his economic view but it is sure appreciated.
He hit a few key points. Unfortunately, the wait and see strategy only works for some people.
Very interesting thanks for sharing.
With great insights from Brandon, I’m sure I would never be left behind. That’s why I even subbed this page on FaceB00K
Talk about an understatement of the century.
You are the best.
Hindsight 20/20
Jamie warned us so we could miss the markets hitting all time highs
Is it a trend now...CEOs becoming doom singers right before their retirement? Dalio, Dimon...amuzing.
they can finally tell the truth lol
@@zoomer9686 almost makes me think, that the NDA will no longer be valid and they know more than they are saying or they are just hyping.
Nice
Jamie is beyond amazing. wealth has no
shortcuts but they're ways to go about it.
"If nothing is done on your finance,
Income will relatively be unchanged."
Wealth is attained through Pro aid,
that's why the Rich seek aid of finance Pro(s) to attain wealth but
claim to attain it themselves"
"Don't lay your eggs in a basket." I
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so far have attained so-much in my finances. Give this a try and attain wealth"
sear ch the full name below, If you
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Isabelle Chloe scott
AGREED 100%
Agree!
Jamie Diamond 💎
Well, I did not expect Russia to invade Ukraine. I did not sell my russian stocks (DRs) and here I am not able to trade them anymore.
This has taught me to take the unthinkable more into concideration and with the latest gold price surge due to chinese loadups I am very very carefull.
Of course I stay invested but I have set up a strategy for the worst.
All the comments from JP Morgan CEO were well-balanced and I fully agree
With great insights from Brandon, I’m sure I would never be left behind. That’s why I even subbed this page on FaceB00K
divine central authority to overcome political government conflict
Great Video man.
With great insights from Brandon, I’m sure I would never be left behind. That’s why I even subbed this page on FaceB00K
Thank you!
With great insights from Brandon, I’m sure I would never be left behind. That’s why I even subbed this page on Faceb00K
Jamie Dimon sold 100,000 shares of his own company's stock (JPM) back in November... do you need a bigger hint than that?
The US government has a credit card with no spending limit and no requirement to pay off the balance
The animation at 9:09 is out of context. In Ray Dalio's video it was intended to represent the tensions between left and right, and not for America and China.
How do we explain the fact that house prices are still at all time high despite high interest rates in US, Canada, Australia?
Propped up
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This banker just want your money in the bank so that they can lend them out..
7:48 unfortunately Belarus is on the wrong side of the map. Hopefully it wil change one day.
The savings rate doesn't matter as long as the institutions soaking up the money that would have been saved used it to stimulate the economy. Anyway it's the banks and financial companies that take in both the savings and higher mortgage payments. The money end up in the same places.
Thanks Brandon, any personal opinions on how is the outlook for Australia?
You follow this page on Facebook too ? might be convenient to reach
I've been hearing this economic dooms day predictions since 2020 stimulus. Nothing has happened so far. Japan has kept printing money for quite some time without any negative difference to their economy.
As someone has said when is this when.
USA is not Japan. U.S. dollar is the reserve currency. USA has interests to protect. You can’t print your way out of it
@@A_R_B_Gexactly
Okay , printing and selling debt , then printing and selling debt , over and over and over again ! I’m glad you think this system will work forever , good luck with that one ! Oh I got some old worn out shoes to sell ya too , they are still good for walking ! Ha ha ha 😊 there is no dooms day there is only a new day ! If you haven’t figured it out yet it’s just cycles within cycles, do a little history 😊 nothing lasts forever
The US policy of "Decoupling with China" will be to the disadvantage of both countries since trade is to the economic benefit of both countries. Even Janet Yellen admitted that obvious reality. !!
Tq india
This video talks about Jamie Dimon's thoughts on the current economic situation and why he thinks it's the most dangerous time in decades.
Jamie Dimon, the CEO of JP Morgan Chase, believes that the current economic situation is the most dangerous he's seen in decades. He has several reasons for this belief, including:
High government debt and deficits: Governments around the world, including the US, have taken on a lot of debt in recent years. This debt will need to be paid back eventually, which could lead to higher taxes or cuts to government programs.
Rising interest rates: The Federal Reserve is raising interest rates in an attempt to combat inflation. This could make it more expensive for businesses and consumers to borrow money, which could slow down the economy.
Geopolitical tensions: The war in Ukraine and the ongoing trade tensions between the US and China are creating uncertainty in the global economy. This uncertainty could lead businesses to delay investment decisions, which could also slow down the economy.
Jamie Dimon is not predicting that there will be a recession in the near future. However, he does believe that the current economic situation is fragile and that there is a risk of a recession if things don't go well. He encourages people to be prepared for a potential downturn.
I agree with some of Jamie Dimon's concerns. The high level of government debt and deficits is a major problem, and rising interest rates could pose a challenge to the economy. However, I am not as pessimistic as Jamie Dimon. I believe that the US economy is still relatively strong, and I am hopeful that we will be able to avoid a recession.
Overall, this video is a good overview of Jamie Dimon's thoughts on the current economic situation. It is important to remember that Jamie Dimon is just one person, and his views do not necessarily reflect the views of everyone. However, his concerns are worth considering, and I encourage you to do your own research and come to your own conclusions about the current economic situation.
Here are some additional points that I would like to add:
The US economy is still relatively strong. The unemployment rate is low, and the stock market is near record highs.
The Federal Reserve is raising interest rates slowly and cautiously. They are aware of the risks of slowing down the economy too much.
There are some signs that inflation is starting to come down. This could ease some of the pressure on the Federal Reserve to raise interest rates.
I hope this summary is helpful!
Overall, I agree with some of Jamie Dimon's concerns, but I am not as pessimistic as he is. I believe that the US economy is still relatively strong, and I am hopeful that we will be able to avoid a recession. However, it is important to be aware of the risks and to be prepared for a potential downturn.
5:27 Jamie is advertising to own PHYSICAL gold
When Jamie Dimon says that you could almost bet on an economic hurricane
Based on his comments around clean energy and oil/fossil fuels, I wonder if he has a blind spot that clean energy without subsidies is generally cheaper today--I wonder if he's leaning too heavily into the way the world has been where GDP is intrinsically tied to fossils fuels while the reality is that the world is in transition and economic growth is no longer wholly tied to dinosaur juice.
The market is more volatile than ever. I've been holding cash since '20 pandemic crash, but just went "all in" bought up $250k worth of ETF's & individual stocks at discount, and hoping to average down on ailing companies, in order to achieve passive income and early retirement.
I’ve independently been saying the ultra low interest rates are like cocaine to the economy, which tends to crash when it’s taken away. But QE, and stimulus are too, which is why it’s called stimulus. But now that money has run out almost and maybe the economy needs to take a nap.
I just have the worst feeling that this INSANE market surge over the past year or so will have the worst consequences in a year or two...
I’m shaking 😂
Stocks up, Inflation down, Interest down - It is called Bidenomics !
There is too much risk from political and economic risk. Major black swan event is coming
high INTREST RATES ARE WAY TO GO no free money the ones who save win
Jamie Dimon has sold a lot of shares in 2023 according to some CZcams pundits and a brief google. He's putting his money where his mouth is. Berkshire Hathaway has a record $157 billion cash on hand. So, Dimon is selling at the top and Buffet is timing the market hahahahah I know I don't know. Just saying.
if interest rates go up where should i look for to invest?
Long term? Stocks.
A business
US Government I-Series Bonds
BTC
deposit fond with a good %
It means special sale is coming soon
Recession is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency. With a decreasing ability to control inflation and a reduction in stocks and oil trading, it seems that a new multilateral world order is on the horizon.
We have to have policies that benefit the whole world not a particular nation as all humans essentially are one. For the opinion that this is not possible, it does seem far fetched now but as people of nations should aim for such a thing. Remember world war 2 the UN was formed which is a step towards the right direction now.
Okay now is the time to become an adult, grow up.
Thanks, guy. Jamie is right, but the relationship between China & USA depend on China. depend on one person.
America never takes into action on commited peace.
FUD---
CyclesMatter
SeasonalsMatter
ValuationsMatter
SentimentMatters
TechnicalsMatter
InterestRatesMatter
Lol yall better get ready for the hail storm.lmao😂😂😂😂
my cybertruck is hail-proof, don't worry 😉🤣🤣
What’s your take on bitcoin today?
dump et
With great insights from Brandon, I’m sure I would never be left behind. That’s why I even subbed this page on FaceB00K
2 weeks after Jamie Demon 😈 talks gloom and doomsday in an interview, Dow makes a new ROCKY MOUNTAIN HIGH 😂😂😂
The best decision I ever made in my life was investing in financial market. Trust me guys, it pays!😊
You're right 👍
I bought Bitcoin and Ethereum August last year and I made 6grand into half a million after taxes. Now I took that half a milli.. basically made me more money than 35yrs in granding within 6 months. That's digital currency
Life is so precious, when you know you own a property or an investment to always keep you on go...I have no regrets starting my journey in cryptocurrency.
@@SantiagoGarcia-up7hm Excellent buddy how good are you earnings and do you have recommendations or suggestions?
After watching several videos on CZcams tutorial about trade l'm still making losses
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@@MiaKatherine-sj7ne
I am 60 years old. I have heard abt doom days since 1980
That makes no sense! Whats your point
Most likely future: deflationary spiral crushes everything. He who loses the LEAST wins. Get out of debt! All debts will be called in and very few will be able to pay.
He said the storm was coming end of 22. ..lol..😅😂😅😂
One thing the US govt could do is stop spending money on boondoggles like "Green Energy", or bribing the electorate with their own money.
Tax the riches is the resolution!
If you are 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
I'm really confused, especially in market analysis,how are people using trading with them?
LETS GO BRANDON
Here is the bottom line: US and China are like a married couple, they fight, argue but still need each other. US got the massive and ever complex financial system and markets, while China has the ever improving manufacturing system. Yin and Yang, they'll always oppose each other where needs be but will always cooperate where both countries benefit. Also US will not aid Taiwan. US may force Japan, Korea, Philippines and India to fight China, but it'll be like Ukraine again. Sure, it'll be costly for China but they will 100% win.
Why not aid taiwan
@@RaghbatTV You really think US would put Taiwan's interest ahead of its own? As the most powerful nation, everyone else is just a pawn in US' chess game against China.
I will be honest. It’s scary to see the economy right now. So many blaming “capitalism bad”, I feel only see it as a surface level issue. It’s much more deeper and I hope to educate my self more and how we can help the economy heal.
When BOA calls you and wants to borrow money , you know you made it in life. (Warren Buffet)
w
jamie dimon comes around as a pretty reasonable individual, he should run for president
There are any people out there like Jamie Dimon who could run for president.
But why would they?
Spend like there’s no tomorrow America, lol.