Kitco News, Released on 1/22/25

The U.S. is on the brink of a dangerous recession in 2025, warns Edward Dowd, Founding Partner of Phinance Technologies. In this episode of our 2025 Outlook Series, Dowd joins Daniela Cambone to dissect the economic challenges ahead, pointing to unprecedented government spending and migration issues as key factors dragging down the economy. “Immigration has been the elephant in the room for the last two years. That’s one of the major reasons President Trump was elected” he says. Dowd also delves into the role of central banks and fiscal stimulus, predicting that inflationary pressures will drive gold higher in 2025, reminiscent of the economic turbulence of the 1970s.

0:00 Recession
5:03 Illegal immigration
6:58 Housing market
7:41 Pope Francis’ comments on migration issues
8:50 US pulling from WHO and Paris Accords
9:38 Biden pardons
10:25 Disconnect between stock market and economy
13:10 Stock market under Trump
15:15 Regular folks feel the pain
16:15 Fed printing money
18:00 Recession and game plan
19:30 Gold price
21:16 Concluding words
22:33 Tariffs

Edward Dowd is currently a Founding Partner of Phinance Technologies, a global macro alternative investment firm. He is also author of the new book, “Cause Unknown: The Epidemic of Sudden Deaths in 2021 & 2022.” Edward has worked on Wall Street most of his career, spanning both credit markets and equity markets. Some of the firms he worked for include HSBC, Donaldson Lufkin & Jenrette and Independence Investments. Most notably, he worked at Blackrock as a portfolio manager where he managed a $14 billion Growth equity portfolio for ten years. After BlackRock, he founded OceanSquare Asset Management with two former BlackRock colleagues.

  economy, ed dowd, investing, market crash, recession, stock correction, Trump