Edward Dowd Warns the U.S. Economy Was Fake for Two Years and a Collapse Is Now Here

The U.S. economy has been artificially propped up for two years, and the support beams are cracking, warns Ed Dowd, former BlackRock manager and founder of Phinance Technologies. In this exclusive Kitco News interview with Jeremy Szafron, Dowd says recent GDP strength is a policy-driven illusion, arguing the numbers were inflated by government spending tied to mass migration—not real private-sector momentum.

Dowd lays out why he believes the floor has been removed from housing, forecasting a turbulent 2026 downturn as inventory rises and demand fades. He also issues a blunt warning on the AI-driven stock rally, calling it a bull trap with echoes of the dot-com era—and argues that market leaders like Nvidia could face severe downside if liquidity tightens and expectations reset.

On hard assets, Dowd says the monetary regime is shifting. He argues that Basel III has effectively re-monetized gold, setting the stage for a dramatically higher long-term price path—while policymakers and markets collide over debt, inflation, and confidence.

Recorded on December 8, 2025, this is a must-watch breakdown of what Dowd says comes next for GDP, housing, AI stocks, and gold as the U.S. economy enters a critical inflection point.

Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron)
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Follow Edward Dowd on X: @DowdEdward (https://x.com/DowdEdward)

Ed's Firm: (https://phinancetechnologies.com)
Ed's Personal Website: (https://www.eddowd.com)

Key Topics:
-The "Fake" Economy: How migration spending and deficits faked the recovery.
-Housing Death Spiral: Why prices must crash now that the "floor" is gone.
-AI Warning: Why Nvidia is the "Cisco of 2025" and facing a massive drop.
-Gold & Silver: The technical roadmap to $10,000 Gold.

TIMESTAMPS
00:00 Introduction and Market Overview
01:10 Interview with Edward Dowd: Systemic Risk
01:43 The Hasset Trap and Economic Predictions
06:30 Housing Market and Immigration Impact
10:42 Private Credit Market Concerns
23:39 AI Hype and Economic Realities
27:17 Economic Benefits of AI and Historical Comparisons
27:58 Challenges and Concerns in AI Development
28:43 AI Infrastructure and Market Dynamics
31:57 Gold's Role in the New Monetary System
36:10 Japan's Economic Dilemma and Global Impact
44:03 China's Trade Strategy and Global Implications
47:06 Deflation Risks and Central Bank Responses
49:25 Risk Management and Investment Strategies

#EdDowd #HousingMarket #Economy #Gold #Recession2026 #KitcoNews #Nvidia #StockMarket #JeremySzafron #Silver #Deflation

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