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Edward Dowd says the 2025 recession is already unfolding, and investors are completely misreading the signals. In this hard-hitting interview, the former BlackRock managing director and founder of Phinance Technologies explains why the U.S. economy is far weaker than the headlines suggest. Housing is cracking, AI spending has peaked, and the true impact of mass immigration is just now being understood.

Dowd argues inflation will plunge below 2% by Q4, deflation is the real risk, and U.S. Treasury bonds are the best asset to own right now. He also explains why the Fed and asset managers were misled by faulty data, and why the housing downturn will lead, not lag, the recession.

Key Topics:

• Why the housing market is the “white swan” collapse no one’s ready for
• How 20M migrants artificially boosted U.S. economic numbers
• Why inflation is set to fall hard—and what most investors get wrong
• His contrarian call on the bond market and how to position for it
• Gold’s new role in the monetary system (and a potential $10K target)
• The AI boom is over, so what happens next to equities and jobs
• Why crypto remains a risk asset… for now

Video Length: 00:43:35

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