{"id":500214,"date":"2026-02-26T06:25:31","date_gmt":"2026-02-26T06:25:31","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/500214\/"},"modified":"2026-02-26T06:25:31","modified_gmt":"2026-02-26T06:25:31","slug":"jamie-dimon-warns-of-dumb-things-people-are-doing-similar-to-pre-2008-financial-crash","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/500214\/","title":{"rendered":"Jamie Dimon warns of \u2018dumb things\u2019 people are doing – similar to pre-2008 financial crash"},"content":{"rendered":"

People are doing \u201cdumb\u201d things in today\u2019s economy reminiscent of the years before the 2008 financial crash, according to JPMorgan Chase CEO Jamie Dimon<\/a>.<\/p>\n

\u201cUnfortunately, we did see this in \u201805, \u201806 and \u201807, almost the same thing \u2014 the rising tide was lifting all boats, everyone was making a lot of money,\u201d Dimon<\/a> told investors on Monday.<\/p>\n

\u201cI see a couple people doing some dumb things,\u201d he added, speaking of unnamed institutions making risky bets to earn extra income in this economic climate, which has seen a high, if volatile, stock market responding to ever-changing developments in tariffs and artificial intelligence<\/a>.<\/p>\n

The Wall Street exec added that despite encouraging signs, such as the Dow hitting an all-time high earlier<\/a> this month, there are always economic surprises in store and industries that could suddenly falter.<\/p>\n

\u201cThis time around it might be software because of AI,\u201d he said.<\/p>\n

\"JPMorgan<\/p>\n

JPMorgan Chase CEO Jamie Dimon is warning investors not to be \u2018dumb\u2019 as AI investment and a hot stock market has generated widespread economic optimism akin to the years before the 2008 financial crash (AP)<\/p>\n

\u201cMy anxiety is high over it,\u201d he said elsewhere of the overall downturn risk. \u201cI\u2019m not assuaged by the fact that asset prices are high. In fact, I think that adds to the risk.\u201d<\/p>\n

As if to prove his point, shares in IBM fell 13 percent Monday<\/a>, their worst single-day drop in a quarter-century, following news that AI tools from Anthropic could compete with one of IBM\u2019s signature programming languages.<\/p>\n

Dimon has previously warned of other economic risks, including the president\u2019s unpredictable tariff policies<\/a>, which were recently struck down at the Supreme Court, and friction between the U.S. and its traditional allies.<\/p>\n

\u201cThe other tectonic shift is \u2026 the global economy. So the global military umbrella of America, and then the global economy, of which trade is a part,\u201d Dimon said<\/a> last year. \u201cThe other parts are, do people want to partner with you? Do you have your alliances? You have investment agreements and all those various things. And they’re changing.\u201d<\/a><\/p>\n

In a survey released this week, credit investors at Bank of America said their biggest concern was an AI bubble, as firms like Google, OpenAI, Meta, and Amazon pour hundreds of billions of dollars into building artificial intelligence data centers and power sources.<\/p>\n

\"Tech<\/p>\n

Tech companies have poured hundreds of billions of dollars into AI investments in recent years, driving fears of a coming market bubble and crash (Ron Jenkins\/Getty Images)<\/p>\n

\u201cFew worry about geopolitics or a central bank policy error,\u201d BofA strategists wrote<\/a> in a note on Tuesday, Bloomberg reports.<\/p>\n

The so-called Magnificent 7 \u2014 Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla \u2014 tech companies that make up a disproportionate share of the stock market\u2019s overall value \u2014 are all heavily invested in AI.<\/p>\n

If the economy is in an investment bubble, and if that bubble pops, the resulting downturn could hurt numerous Main Street investors, too, as their retirement savings and pensions are bound up in the stock market<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"People are doing \u201cdumb\u201d things in today\u2019s economy reminiscent of the years before the 2008 financial crash, according…\n","protected":false},"author":2,"featured_media":500215,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[200024,276,45,49,48,46,4493,21985,121],"class_list":{"0":"post-500214","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-2008-financial-crash","9":"tag-artificial-intelligence","10":"tag-business","11":"tag-ca","12":"tag-canada","13":"tag-economy","14":"tag-jamie-dimon","15":"tag-jpmorgan-chase","16":"tag-stock-market"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/500214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=500214"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/500214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/500215"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=500214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=500214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=500214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}