It's hard to say that the JVM is faster or slower than X because it usually comes down to the way in which the application is developed.
If C++ was ALWAYS faster then I wouldn't be using Java for our trading systems. Some of our competitors use C++ and some use Java. We have one of the fastest trading platforms in the world, the only firm to have faster than us are also using Java.
I used to work at a world leading investment bank who's entire low latency, high scalable trading platforms were built in Java.
Just about every large financial firm that I've worked at plus both telco firms and one management consultancy used Java to build large, fast and scalable applications.
You may have no use for Java in your small bubble of a world where you most probably work on insignificant, crappy pay and waste of time projects, but people who work on important stuff in the real world do. I'm sure other people can tell you why Java is important in ways that I cannot. I just get annoyed when I see people slag off a piece of technology just because they don't use it or like it.
How about that?
Have you tried programming BEFORE Java, when the same kind of systems were done in C++ with CORBA or similar monstrosities?