VRIC Media, Released on 5/22/25

In this episode, Jay Martin sits down with Ed Dowd—former Blackrock managing director and bestselling author—to discuss the shifting dynamics of U.S. economic power. They cover the dollar’s long-term trajectory, what to watch in the next cycle, and how Trump’s aggressive trade stance could reshape global relationships. Ed shares his thoughts on the effectiveness of DOGE, the illusion of job growth, the fragility of the Chinese economy, and why Africa may be the next frontier for economic opportunity. A wide-ranging and insightful breakdown of the global macro picture from one of the sharpest voices in finance.

0:00 – Has the U.S. strengthened or weakened its global standing?
6:48 – Could a weaker dollar actually help the U.S. economy?
9:08 – What do we know about long-term dollar cycles?
11:06 – How effective is the DOGE initiative on tackling the deficit?
14:02 – Could AI-driven audits still uncover meaningful savings?
18:04 – Has trust in institutions permanently eroded?
27:05 – Will Trump need to shift the market narrative before midterms?
31:52 – Is Trump’s negotiating style fragmenting global trade relationships?
37:06 – How do you view the Belt and Road Initiative’s success or failure?
44:06 – Are there emerging economies you’re bullish on?
46:13 – What’s your take on Chinese influence and surveillance in Africa?

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.

  commodities, dollar, ed dowd, investing, Trump, us debt crisis