Ed Dowd summarizes the economic course correction & where we're headed

Bannons War Room | Here is Ex-Blackrock money manager Ed Dowd ...
"Trump put the end goal out there
We want tariffs to be zero
.
This is a way to get people to the table saving time
Fraudulent elections have catastrophic consequences
The last 2-3 years of this economy have been fraudulent
We have a stock market bubble of all time valuations Trump inherited
The market was coming down regardless
His policies were going to shut the liquidity spigot
.
So this was bound to happen
Tariffs are the reason de jure (for criticism)
We were topping out since December
There were warning signs in the market
The AI bubble burst in February
And now the trade tariffs have just fed on it
.
This is Phase 1 - stock market bubble bursting
If I'm a betting man were getting close to some kind of washout low
Maybe a massive recovery as more & more countries come to the table
.
So this is Phase 1 - we'll have a relief rally
But then we're going to have to deal with the housing crisis
Caused by the illegal aliens that price a lot of people out of the market
We're going to have a housing correction & a housing recession
.
So, the Trump admin is realigning the economy Restructuring the economy
I think home prices going down would be a good thing for the middle class
And this is very painful to the financial elite
But to the avg man as long as he keeps his job
He should have more opportunities down the road
.
But it's not going to be pretty, it going to take a long time
But it had to be done and the other way was a currency crisis
And the loss of reserve currency status if we kept going the way we were going"

The question why Warren Buffet sold all those great stocks last year may now have been answered.

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