WTFinance, Released on 12/12/25 (Recorded on 12/9/25)

On this episode of the WTFinance podcast I had the pleasure of welcoming back Edward Dowd. Edward is the Founder of Phinance Technologies and author of Cause Unknown. During our conversation we spoke about the economic outlook for 2026, employment data, the delay of the recession, the quick crash, electricity bills, what benefits the crisis and more. I hope you enjoy!

0:00 – Introduction
1:10 – Current economic outlook
6:01 – What has extended the cycle?
7:32 – Employment data
11:01 – What does the recession look like?
13:43 – Quick crash
14:42 – Electricity bills
18:25 – Monetary system
22:02 – The future of AI
25:29 – What benefits during the crisis?
27:42 – Golden age?
33:22 – China trade imbalance
34:50 – One message to takeaway

Edward Dowd is currently a Founding Partner of Phinance Technologies, a global macro alternative investment firm. He is also author of the book “Cause Unknown”: The Epidemic of Sudden Deaths in 2021 & 2022 & 2023. 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, edward dowd, recession