The U.S. Economy Was 'Fake' for 2 Years: Here’s Why Edward Dowd Says It Collapses Now

The U.S. economy has been "artificially propped up" for the last two years, and the floor is about to fall out. Former BlackRock Manager and Founder of Phinance Technologies, Ed Dowd, joins Jeremy Szafron on Kitco News to expose why recent GDP data was a "hallucination" driven by government spending on mass migration.

In this deep dive, Dowd warns that the "floor has been removed" from the housing market, predicting a tumultuous crash in 2026 as inventory spikes and demand vanishes. He also breaks down why the AI boom is a "bull trap" similar to the Dotcom bubble—forecasting an 80% crash for market darlings like Nvidia—and explains why Basel III has re-monetized gold, setting the stage for a $10,000 price target.

Recorded: December 8, 2025

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