This will end badly, regarding financial markets, says Ed Dowd

"What we're seeing is an attempt to… create a bubble." "The stock market internals are horrific." "We have basically five [5] mega-cap stocks holding up the stock market. Eventually this ends badly." "This is what happened in 2007, as well before the crash in 2000." “I call this the Macgyver economy: They're holding it together with scotch tape, tin foil and gum." "The cracks are appearing…” "Jamie Diamond of JP Morgan… last week said that the US is due for a hard landing… a big recession." "We have the admission from the FDIC that last year's bank crisis was worse than we thought." "The Bank of Japan is facing a currency crisis." “… this economy is absolutely awful.” "In 2000, the DOT-com bubble, they had started lowering interest rates, and then two years later, we were down 50% in the stock market." "In 2007 they started lowering interest rates, and then we had the crash." "Once they start lowering interest rates, run for the hills." "What should regular people be doing to protect and prepare?” “If you have a portfolio or 401k, just put some of your allocation in cash.” “[Short-term] treasury bills [T-bills] are government money-market funds. Because at the end of the day, [T-bills] will still be money good.” "What you should be focused on is not growing your wealth, but preserving your wealth right now, and you'll be happy that you did that." "And then when the crash does come, you can buy bargain basement financial assets like Warren Buffett's gonna do."

The 8-minute interview with Ed Dowd is on X here:

https://twitter.com/AbsoluteWithE/status/1796533056272322744

The full interview with Ed Dowd, former portfolio manager for BlackRock, by "The Absolute Truth with Emerald Robinson", which was posted on May 30, 2024, is posted here:

https://frankspeech.com/Video/former-secret-service-agent-usss-needs-to-prepare-to-protect-a-president-in-prison-1

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