The "What is Money?" Show Why the World Is Slipping Into Chaos w/ Edward Dowd
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Dec 26, 2025 
Edward Dowd, a former Wall Street portfolio manager and founder of Finance Technologies, delves into the systemic stress from demographic declines and excess mortgage debt. He critiques the AI bubble, warning of potential market busts due to capital misallocation. Dowd predicts a future drawdown in markets and shares insights on credit market vulnerabilities. He discusses the implications of geopolitical tensions and the importance of personal resilience and community building amidst economic uncertainties.
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Early Signal Detection Outpaced Official Narratives
- Edward Dowd argues COVID-era excess deaths and vaccine harms were detectable early via public data and his team proved the case.
- He says Wall Street-style early signal detection beat slow science and public acceptance.
AI Shows Classic Bubble Dynamics
- Dowd frames the AI craze as a classic hype-cycle bubble with excessive infrastructure spending and slow adoption curves.
- He predicts a bust, later niche AI winners, and current credit signals show rising bankruptcy risk.
Hold Dry Powder Ahead Of The Drawdown
- Dowd recommends raising cash now and keeping "dry powder" to buy assets during the expected drawdown.
- He warns against shorting and suggests positioning by life stage (more cash if retired).