Greatest Bubble Of All Time
Could we see a nasty economic correction soon? That’s the belief of Wall Street money manager and financial analyst Ed Dowd of PhinanceTechnologies.com.
“There were plenty of people during the 2000 Dot-com bubble knew it was a bubble,” Dowd says. “They actually played it, and the game was get out before everybody else gets out. So people know it’s a bubble. The question is what will burst it? That is the credit markets and private credit which has been a big source of funding for AI is under stress. There is a default cycle coming and general backdrop of the real economy is quite weak.”
He continues, “The consumer is not doing well. Walmart just reported, and it had the lowest same store sales in six years. . .. The general population is not doing well, the housing market is rolling over, and we have the economic problems with China we have talked about before. So, it’s all conspiring to be a nasty correction.”
Dowd discusses the financial conditions with Greg Hunter on a new edition of USAWatchdog.com.
