Upcoming World Wide Economic Collapse/Deep Recession What the Big Money is Doing w/ Ed Dowd

➡ The speaker believes that a decrease in home prices would benefit the younger generation and stimulate economic activity. They also discuss a Labor Day sale for Brick House Nutrition’s health products. The speaker then introduces Ed Dowd, an economist who predicts a significant recession and advises people to preserve their wealth. The speaker also mentions their own weight loss journey with peptides and their upcoming interview with Ed Dowd about his financial background and predictions.
➡ BlackRock, the world’s largest investment firm, grew its business by shifting from active to passive investment management. They started as a bond shop, then acquired several companies, including Barclays Investment Management, which boosted their growth. The firm’s success is attributed to strategic business planning and the use of their Aladdin system, rather than any special connections. The shift towards passive investments, such as ETFs, has dominated the industry for the past decade, but there are predictions that active management may make a comeback.
➡ The article discusses the increasing number of disabled people in the US and the potential negative impact this could have. It also covers the idea of the US government taking ownership of defense companies, which the author disagrees with, citing concerns about government debt and the potential for favoritism. The article also touches on the firing of a Federal Reserve board member and the potential for a future economic crash, with the author predicting a significant drop in the stock market.
➡ The economy is in a precarious state due to the Federal Reserve’s interest rate cuts, which are usually a sign of a struggling economy. Big tech companies like Meta, Google, Apple, Nvidia, Amazon, Broadcom, Oracle, and Palantir are overvalued and layoffs are expected. The real estate sector, which makes up 20% of our economy, is also facing issues and a recession seems inevitable. However, this could lead to a wealth transfer from boomers to millennials and make housing more affordable for the younger generation.

SA SAM I actually think home prices coming down 30, 40% would be great for the younger generation. And in every, you know, that’s why right now we have this zombie economy where people can’t afford homes. So there’s no activity. Yeah. And there’s. What we need is lower prices. Millennials buy, then they furnish their home and the cycle booms again. I don’t view recessions as a bad thing. There’s kind of a cleanup, rebirthen of and transfer of wealth from boomers to millennials, which needs to happen. Just a quick break in the program. Brick House Nutrition’s massive Labor Day sale just went live.

Everything is 25% off. Using the code Labor Day 25. And you can save on some of the best nutrition products on the market. They have peptide collagens, which I highly recommend. I take collagen peptide collagens every single day to help with skin health, to help with hair, help with rejuvenating joints. It’s a staple product I think everybody should be taking. They also have field of greens, which is such a great product to get your greens every single day. How many people eat all of their vegetables every single day? Using the field of greens, you will get all your fruits and vegetable nutrition that you need every day.

In fact, feel the greens is so great. It promises that your doctor will notice your improved health or you get your money back. Who else does that? I personally would be stocking up on my peptide collagens called radiance and migraines. So remember, go to brickhouse.com use labor code 25 and save 25% on all your nutritional needs. But hurry, it’s only 25% off for the next few days. Foreign welcome to business Game changers. I’m Sarah Westall. I have Ed Dowd coming to the program. The economist Ed Dowd. He has a new venture called Finance Technologies, which he actually did a lot of humanitarian work during COVID and we’re going to talk a little bit about that, but we’re going to also talk about the market he’s predicting.

His company does data analysis for high net worth families and institutions and so forth. And he’s going to talk about how his data is pointing to a. A depression or not a depression, a recession. A pretty hardcore recession. And that he says that him and Warren Buffett and many were just two years ahead. Warren Buffett has over $500 billion sitting on the sidelines right now because they want cash. So when all these assets depreciate, they can buy in and buy everything. At a low price. So that’s why people are sitting on cash. And I think it’s good to just hedge your bets all around.

Sit on cash, sit on gold and silver, sit on whatever you can to preserve your wealth and just know that things are coming. And we’re going to talk about that. We’re going to talk about the fact that you know what’s happening with extra mortality rates and the fact that nobody’s even giving it publicly are talking about this. Yeah, the independent media is, but the regular media and the government are not talking about it. And what does that do? What is it doing in the real economy that we have excess disabilities, excess deaths, all that stuff. What’s really happening? So, so this is a good one.

As I expand and do more economic news and more finance. I rated this show was number six this past week in business news. And so I’m starting to get a pretty decent following on finance and different business news. And I want to tell you I’m, I’m starting to do. I’m going to be doing more of that. I’m going to do more my same old corruption stuff I always do. And I’m also going to be adding a day where I’m just about learning new things always what is. That’s what business game changers is always about the edge of change.

And so it’ll still be about the edge of change. Always been about the edge of change. But I want to get a little bit more focused on on a certain day of the week. Always looking at new ways to think and paradigm changes and then keep covering what I’m covering. So I hope you follow me on that adventure. And if you are listening on Apple or any of these other podcasts, Podbean or iHeart, please give me a review. Please share that also on Rumble. Thank you Rumble. Thank you Bitshoot. Thank you Brideon for supporting my work.

I’m not supported by many mainstream podcast platforms, so those of you that support me, thank you. And if you’re watching it on one of these platforms, give me a thumbs up and also consider supporting my affiliates. I have. That’s how I keep this going. I, I fund myself through my affiliates and who and I’m always looking for the best people I can align with. And one of those is the Peptides that I’m selling and I’ve lost £25. I keep talking about it because I’ve just, I’ve worked my whole life trying to get myself when I was younger it was easy, right? I.

I don. Know for other People maybe it was never easy, but for me it wasn’t that hard when I was younger. Then you get older and say, oh my God, this is hard. Doesn’t matter how much I exercise, I’m always hungry. I can’t, I can’t lose weight. Well, I have a peptide regime that I put forward that is, it’s really kind of easy to do and you will be amazed at how, how effective it is to lose weight. And I have a peptide guide that I’ve been sharing and I use Retitrutide, which is a next generation glp.

One that is only the peptide. It’s not the preservatives. It’s, it’s. And it’s better than the other ones that are on the market because it not only reduces your appetite, it burns fat and it reduces muscle less than all the other ones. So it helps preserve muscle. And then I also have, part of that protocol is an accelerated fat loss peptides and helping you build muscle with Sloop and Fib Amino. So I have that peptide guide below and you can find out dosages, you can find out how to administer it. I also have capsule only in that.

So if you need to lose weight, I highly recommend you look at that. I’ll have links to the products that I buy where the Chew Tide, the Sloop and five Amino. But I also have a link to that peptide guide because that’s really helping people get and shed their weight. Okay, let’s get into this fantastic conversation that I have with Ed Dowd. Hi Ed, welcome to the program. Hi, how you doing, Sarah? Good to be here. I’m good. Well, thanks for joining me. You have a really deep background in finance and I wanted to talk to you about some of that background that you have and also what the Trump administration is planning on doing.

But first let’s get into some of your background. You worked at BlackRock as a portfolio manager, managing like $14 billion portfolio and various other roles that you’ve had. Can you give people a background of your deep finance background and on Wall Street? Yeah. So I graduated from Notre Dame in 1989, went straight to HSBC, Hong Kong, Shanghai bank, became a bond salesman in Chicago and learned about the capital markets and interest rates and currencies and how just macroeconomics shaped the financial world. My clients were insurance companies, banks, trading desks. And then I went back to business school, got an MBA at IU Indiana University, then went on to Wall Street, Donaldson, Luck and genre to become an equity analyst.

Electric utility. Saw the dot com boom and bust and Then only spent two years there, went up to Boston to Independence Investments to become a tech analyst right before the tech boom took off and the dot com thing busted. So I saw a lot of fraud, a lot of nonsense. And then I parlayed my job at Independence Investments because I helped my firm avoid a lot of the damage there. Went to BlackRock in 2002 and picked up management of a $2 billion portfolio with my partner, Jeff Lindsey. And then we grew it to 14 billion. And, yeah, I’ve seen a lot.

I’ve seen a lot of nonsense over the years. I left Blackrock in 2012, moved to Maui, and I’ve been kind of doing entrepreneurial stuff ever since. Now currently founder of Finance Technologies. We did a lot of work for free on the vaccine issue, and now we’re putting out economic research and trying to raise money for a hedge fund at the same time. Oh, excellent. Okay. Well. You still in Maui? Oh, yeah. Oh, you lucky dog. We’re going there in December, so I’m pretty excited about that. But the taxes are high, though, right? Out there. If you own a home here, the real estate taxes aren’t high, but the taxes in general are high.

Okay, so it’s not so bad. Well, okay, so BlackRock, you worked there for 10 years. It started in the early 90s under Blackstone. And then Larry Fink and a group of eight people started BlackRock. And you were there for the first, what, 10 years? You must have started, like, right after it was founded. No, no, I started in 2002. 2002. 10 years later. When did. And then through 2012. Okay, so you started 10 years after. How does Blackrock become the most powerful, largest investment firm in the world in 30 years with ownership in every single major Fortune 500 company? It all started off as a bond shop, just, you know, a bond asset manager.

Larry Fink came from Kidder Peabody, and they utilized technology to analyze risk, and they came up with the Aladdin system. And they grew as much as they could as a bond investment manager. Then they started acquiring companies. I was with State Street Research Investment Management. We were the first acquisition they did. I was not hired by BlackRock. I was acquired by BlackRock. Okay. And then they went on another acquisition spree. Merrill Lynch Asset Management, and finally Barclays Investment Management. Barclays was the ETF company. And that’s where their growth really took off. They, Larry Fink, saw the growth of passive investments over active management.

I was what was called active management. Larry Fink rightly determined that that active management was on a decline. And passives were growing. So that’s what they did in 2000, I think nine or 10. They bought Barclays Investment Management and they became one of the biggest asset managers. And then they grew their business. And the passive business just took all the money from the active business. So that’s why they grew and that’s why they’re one of the biggest ones along with Vanguard and State street, which are also in the ETF business. And all ETFs are just passive investments.

So based on being an insider, you think that there was a road to where they’re at just by being smart investors and being being strategic in what they’re doing with their Aladdin system and not any kind of connections that an average person wouldn’t have or it was just a really strategic business plan. Yeah, I mean, basically there’s no. Look, people want to have conspiracy theories, but basically there was in, after the dot com bust, there was a move out of active management into passive management. So there was a growth trajectory there. And I was running a growth fund, an active managed growth fund.

And the only reason we grew it from 2 to 14 billion isn’t because the category grew. It’s because we stole share from other people. So we were stealing share from people in a declining asset class while everyone was going into passives. So it was kind of a to do that was a victory, I guess. But the industry was going towards passives. Larry Fink rightly saw the trend. Once that merger happened, they really de emphasized the active management. Everybody I used to know at blackrock is gone. They really don’t care about active management. Active management is where portfolio managers pick the stocks.

And what’s the difference between active and passive for the listener? Well, passive is you buy just an ETF that’s predetermined and it’s computer generated and there’s no active management. So you can buy an ETF of the S&P 500, you can buy an ETF of the Dow Jones Industrials or the nasdaq and you just get a very low maintenance fee. And people don’t try to beat the index. My job was to beat the index. So my, my job was to beat the Russell 1000 Growth Index. People determined over time it was a lot cheaper just to buy ETFs.

But what we have now is probably we’re in the 10th inning of the ETF craze. And if you look at the S&P 500 right now, it’s literally 35 to 40% of the index is seven stocks so when that bubble bursts, and it will, they always do, people are going to realize that active management might have been a good thing at some point. But this is, this is how, this is how, you know, trends go on until they don’t anymore. And so I think active management will come back. But it’s been dead for about 10 years. My dad back in the 90s was talking about that and he was right back, way back then and he was talking about Vanguard.

He was talking about Vanguard back then and he was right. And I look back and I’m like, wow, dad, you were actually right. Way ahead of everybody. But let’s talk about Larry Fink a little bit. Being the co chair of the World Economic Forum. And I know you have done some research on the World Economic Forum in their role with COVID or it’s hard not to at least know that some of their involvement with propagating some of the COVID activity. What do you think of Larry Fink now being co chair along with Klaus Schwab? I mean, did you get to know Larry Fink when you were working at blackrock? Oh yeah, I knew Larry in the early days before the company got too big.

Once it got too big, there were layers of management in between. But yeah, we had meetings with them and he seemed like, you know, a fine fellow at the time. So look, I don’t know what’s gone on since then. I, I had all my reads into the company disappeared years ago. So anybody I used to know there has got long gone. So whatever the companies become, I have no idea. That’s interesting. Yeah. And so you’re, you’re, you’re trying to, you notoriously came out as a voice of reason during COVID And looking at this, the data, just being a data person and saying hey, we’re, this is not healthy and we’re going in the wrong direction.

And what do you think about that now? Where do you think we are from a just, you know, numbers finance wise for the country since COVID happened, how much it’s hurt us or helped us? Well, they covered up a lot of the COVID excess deaths and disabilities with legal immigration. When you bring in 20 million people, that tends to cover some sins. Unfortunately the sins are still there. Disabilities are now at all time highs. We’ve added 5.8 million since I first started talking about this. When I came onto the scene it was 3 million addition, 3 million excess disabilities.

Now it’s 5.8 above trend. It’s growing, it’s just growing. It’s not stopping and it’s accelerating. Clearly something is off the rails in the health of the populace in the US and other countries. Are you seeing. Well, yeah, go ahead. Excess deaths have moderated. They hit a high of 40%. Well, for the US, 32% total in 2021. Now they’re running at 5 to 10%. And, you know, now we have birth rates declining. And so we got a population problem. Yeah, we do. So are you seeing, I know obviously that excess problems in healthcare affect finance, people’s wallets on insurance.

Right. Are you seeing any kind of data? And I, you know, I have different data points, but I’m wondering if you’ve seen any kind of data of how the reaction of. I mean, they’ve just been ignored pretty much by the government. Having Bobby Kennedy come in, it’s giving them a little bit of attention. But in general, the COVID problems have been ignored, but they can’t be ignored from a finance standpoint. So are you seeing any kind of indication that people are reacting to this and that there’s going to be a backlash of some sort, or do you think they’ll be able to just kind of push it under the rug and move on? Well, the insurance companies just raised prices, right? That’s all they did.

But the health insurance company, there’s life insurers and there’s health insurers. The health insurers are starting to have problems. Unh. Is having problems. They mispriced their book of business. Claims continue to go up. Medical procedures continue to go up. So, like when you have a population that has been, let’s call it what it is, poisoned, you know, and you have all this denial that this occurred. So the, the health care actuaries are wrong. So the life insurers just raised prices. Now the health insurers have to figure out how to price this. And we have, we have a crisis.

I mean, the crisis is the health of the country is slowly going the wrong way. And that, you can see that in the disabilities, you can see that in the, you know, the growth in cancer, capex spending. You can see it in Swiss re talking about excess deaths going to be here, 5 to 10% until 2030. Now, they blame Covid for this, but we all know it’s not Covid. Covid is a cold at this point. But, you know, this has been a, this has been a devastating problem that’s still being swept under the rug. The Trump administration is really not talking about this, let’s be honest.

And I think that not talking about it is creating some Pretty devastating emotional toll on people too, I think. Yeah. And especially the vaccine injury. They feel like they’ve been ignored. They have been ignored. Yeah. And it’s sad. And the anger is only going to grow. The numbers. I was hoping that, you know, that everything would revert back to normal and I was hoping I was kind of going to be wrong. Unfortunately, the biggest indicator that this trend is only accelerating is the US disabilities. The BLS numbers, you know, now they’re not as granular as the UK disability numbers which we did a study on.

It’s called the UK PIP system that gets down into different disabilities and different claims. This is just a general survey, but it’s directionally going the wrong way. I mean, you know, to go from 30 million disabled for the prior five years to Covid to 33 million by September of 22 and then another million by June of 23, then another million by November 24, now another million, you know, in July of 25. I mean, this is a, this is a disaster. I mean, if you look at it, it looks like a growth stock that’s taking off. Yeah.

And again, is that the right number? We don’t know, but it’s telling you the direction. Well, and that is a predictor of an underlying emotion that’s building up. And emotion is important when it comes to politics and, and investing and everything else. But I want to switch gears a little bit and start talking about Howard Lutnick, who was the form. I don’t know if he’s still the CEO of Cantor Fitzgerald. As secretary, as Commerce Secretary. Can you be. I don’t know. But he’s indicating that he’d like the administration or the United States to take ownership or at least partial ownership and defense companies.

What do you think about that? I mean, that’s, I think it’s a ridiculous idea. This is, this. I, I don’t want to see the US government, especially with 37 trillion in debt, you know, putting money into, into companies. I mean, this, we have no business doing this because, you know, that’s officially fascism, right? I mean, yeah, I mean, that’s what. It’s fascism, light, whatever you want to call it. I mean, I just don’t think the government should be in the business of picking winners and losers. And then, you know, like we switch administration so like the next administration has their favorite set of companies.

I mean, it’s, this is, this is not a good thing. And, but do you think it’s just taking what they’re already doing by proxy behind the scenes and doing it Openly. Well, you know, yes, there were, there were, there were, there were lobbyists, you know, companies were lobbying the government to get goodies. That’s that we voted Trump in to get rid of crony capitalism, not, not, not enhance it. I don’t care if it’s out in the open. I mean, intel, I mean the other thing, 10% of intel, right? Yeah. Well, what was mind boggling about that? He’s accusing him of being a Chinese spy and then the next moment he’s doing a deal with him.

I, I, my head was spinning on that one. But do you think he does that, like he says negative things and then he says positive things. He says all that to kind of create these deals. I mean, I don’t know. I know, but eventually, eventually you can’t take anything he says seriously because it’s a serious accusation to say that he’s in cahoots with the Chinese and then to do a deal with them. Well, which is it? Well, that is the problem, right? Saying all these things while everybody says, oh, he’s so brilliant because he’s saying all these things to craft this deal.

But the other side of that coin is nobody will trust what you say. Then just a quick break from the program. I need to share with you an urgent manner about scam gold IRAs and the important need to make sure that you’re working with a trusted company in the precious metals space. I have had hundreds of people come to me now where they have lost 50, 60, 70% of their life savings in these scam gold IRAs, or we are having nearly 100% success rate getting their money back. If you have put your life savings into a gold ira, I implore you to look and see if you have been scammed.

Don’t trust the company that sold it to you. Make sure you understand what you can get as a buyback value for the gold or silver that you have in your ira. If you have noticed a significant drop in, in what you invested, you have more than likely been scammed. We can help you and there’s no shame. Go to sarahwestall.com Miles Franklin, fill out that form and we will help you get your life savings back. Yes. If you keep doing it, eventually, you know, the art of the deal becomes the art of the nonsense. Yeah, yeah, that’s a really, really good point.

And so you don’t, you, you don’t think that they’ll be able to get that through? I mean, do you think there’ll be so much pushback that it just not taken seriously? I hope so. I mean, I’m pushing back a lot of other serious people that are Trump supporters. You’re pushing. Look, I voted for the guy, but I’m not a Trump cultist. You know, I will criticize things and call out nonsense and, you know, fascism. White is nonsense, in my humble opinion. Well, supporting a politician in a way where you can actually critically think is much better than just being a cultist because, you know, a cult follower.

Because now you just shut off your brain and you just do whatever somebody says and then you don’t. Nobody really trusts you either as far as what you say, because you’re not critically thinking about anything anymore. Right. And in your role, you have to be able to critically think about everything. Yeah, I’m trying to do. Right. Yeah, I’m trying to do that. I’m trying to call balls and strikes, and this is a strike. This is, this is, this is a mess. Wanting to take, you know, stakes and companies is a mess, in my humble opinion. I don’t agree with it.

100. I, I do not like the idea. Well, what do you think about the recent Fed, One of the recent Fed board members, she was fired. I mean, I don’t, I don’t know if I buy into. She was fired because she was corrupt, because she tried to get a lower interest rate on a mortgage. I mean, I, I’m sorry. Based on all the corruption that I see in the world, I have a hard time believing that was the reason. What do you think of that situation? From what I understand, first of all, she hasn’t been convicted of it yet, so that’s number one.

Number two, from what I understand, she claimed residency, primary residency in two states. So the question is, what was the intent? And it’s clearly checkbox fraud. It looks like fraud, but, you know, that she intended. There’s a lot going on here, isn’t it? Pretty minor in the grand scheme of what we’re seeing from a corruption standpoint? And not that I want to say that it’s okay for what she did, but, I mean, come on. Well, look, if I wanted to, if I wanted to be a critic of this move, and let’s pretend this was Biden doing this, you could say, yeah, like, like what you just said.

This is, you know, really not that big of a deal. And it seems targeted to, to get an agenda through, meaning, you know, Biden administration went after a lot of people for, like, you can always find somebody somewhere breaking the law and prosecute. So, but, so the point is maybe that’s this who knows? You know, look, the Federal Reserve needs to be probably reformed at some point, but this seems like a strong arm tactic way of doing it, especially because he wants lower interest rates and he’s going to get his lower interest rates, but he’s not going to like why.

Trump’s going to get him, but he’s not going to like why. And why do you say because the economy is going to crash. You do not have a roaring economy and then say we want 1% interest rates. When we have 1% interest rates, the real estate sector will be lower, the stock market will be lower, yields will be lower, and the economy will be in recession. Because this is where, this is where we’re heading to. We still have the hangover from the Biden administration that has not been cleaned up. The illegal immigration was an economic variable we’ve never seen before that’s now going the wrong way.

We have a stock market bubble and a real estate bubble rolling over at the same time. And we have a stock market that’s basically being driven by seven stocks and the valuations are absurd. Everybody I talk to that’s been doing this a long time knows that this will pop. The question is, does it pop next week, two months from now? But when it pops, it’s going to be fast and it’s going to be bad and it’s going to happen in the Trump administration. And you think he’s going to get his 1% interest rate? Oh, yeah, he will.

It’s going to be, it’s going to look at his 1%. But the stock market will be down 40 to 50% by the time we get there. Oh, God. Okay, so what? Look, Sarah, you got to remember during the dot com bust, we had a dot com run up and then the Fed started raising interest rates into that stock market top. Then they stopped, which we’ve done now. Then they started cutting in May of 2000. They started cutting interest rates in May of 2000 all the way down to the bottom in 02. Great financial crisis. We started cutting interest rates in 07.

We started cutting interest rates in 2024. This is where we are. The lower the interest rates go, that means the worse the economy is. And once people figure that out, there’ll be asset allocation out of stocks into bonds. And that’s going to happen soon, in my humble opinion. What are the seven stocks that you think are super inflated? Meta, which is Facebook, Google, Apple, Nvidia, Amazon, Broadcom, Oracle, Palantir, all the top. The big tech companies. Yeah, the ones that are the Ones that. The ones that are instrumental in creating the digital prison. Yeah. Yep. You know, some of those are actually laying people off and really tightening their belt.

Do you think they’re seeing the writing on the wall as well? You know, look, the job numbers were faked under Biden, and we bought a one and a half million jobs. So we’ve kind of been in a recession. In the real economy, the financial people haven’t figured that out yet, and they’re going to start to figure that out. And layoffs are coming. The real estate sector is really a big problem because that’s 20% of our economy. Real estate is 20% of GDP. And when that rolls over, a recession is unavoidable. So that’s really going to start a feedback loop of, you know, layoffs, construction, layoffs, banking issues, and then the federal lower interest rates, and then the cycle is renewed and reborn.

I actually think home prices coming down 30, 40% would be great for the younger generation. And in every, you know, that’s why right now we have this zombie economy where people can’t afford homes. So there’s no activity. Yeah. And there’s. What we need is lower prices millennials buy than they furnish their home. The cycle booms again. So I don’t view recessions as a bad thing. There’s kind of a cleanup, rebirthing of, and transfer wealth and boomers to millennials, which needs to happen. Well, we are way overdue for a recession. Right. They’re propping it up. You know, I have contacts in big tech, and they’re seeing companies, some of these large companies do things they’re haven’t ever done or haven’t done in a long time.

As far as tightening their belts internally, I don’t know if it’s happening at all of them, but some of them that have never done that are doing it. So I think they’re seeing some of the writing on the wall or they’re feeling the softness internally. Yeah, look, Google had its first layoff in 2023, and they’re continuing to tighten their belt because they’re spending money on data centers, which so far have no revenue. So it’s becoming this circular shooting squad. We need to spend more money on data centers, lay off people. But there’s no return on AI that doesn’t end well.

Yeah, they’re investing in things that aren’t giving them a return. And they had so much cash that they were sitting on that they were able to invest in all these innovative new things that just never turned into anything. Right. And they finally decided to bet on AI, which look, my opinion on AI is it’s a real thing. It’s not general AI, it’s not as good as people think it is. But it’s like the dot com boom. We had this overinvestment in infrastructure, broadband, dark fibers, and then it went bankrupt. And then the web 2.0 was born on the backs of cheap fiber optics and streaming.

I mean that’s essentially what happened in the dot com, it was a real thing that was going to come. They overhyped it. A whole bunch of money went into a bunch of bs. And then the real thing happened after it fell apart afterwards. But what really got it going was the, was, was the broadband buildup which was very speculative. And so what are we doing now? We’re doing an AI infrastructure build out that’ll go bust and then it’ll get recapitalized and then AI computing will be very cheap. This is, and then, then the real AI happens.

Well, right now it’s, you know, Nvidia is selling $40,000 GPUs. That doesn’t, that’s not sustainable. Yeah, I was involved in the big tech or in the telecom broadband build out. That’s kind of what I did in my early days. And then I, when I left there, I just was watching all these crazy investments and stupid stuff and I was like, wow, I really wish I remember back then thinking I was too young to be ahead of that. I didn’t understand it. And I was like, God, these are really stupid investments. And then what happened if you do stupid investments, eventually they’re stupid.

It eventually stupid. And you get wiped out. And you get wiped out. Yeah. And I, I’m seeing people spin AI that is just like internal. The companies people do if then the fragments, you know, it’s just a real basic clause. They’ll call that AI mean really stupid stuff. Just because Mark, AI is this marketing term and they’re calling everything that we wouldn’t even remotely call AI back when I was doing this stuff, they’re calling it AI. And I just think, geez, maybe 2% is true machine learning and it’s just not what people think it is. Absolutely.

And look, what do a lot of people use AI for? Personally, it’s for searching. It’s like it’s glorified search. Sometimes you can cheat on your homework and write a document, but for the most part, 90% of what I do is search. It’s a better search than Google. I think it’s a nice search. And it helps to summarize things, but you’re right. Yeah, you’re right. Okay, so what’s your new company? What’s going on? Finance technologies that we’re the ones that did a lot of the vaccine research. It’s on our website under the Humanity project for free. It’s still with a ph instead of an f and it’s financetechnologies.com right now we’re selling economic research.

We have a big report we put out in January morning of a big recession coming. We’ve followed up with subsequent modules, real estate modules, to prove that we’re more confident now than we were in January. And it’s beginning and we continue to roll out research. We get a China China report coming out in a couple weeks, maybe a month or two that’s going to show that China’s problems are accelerating. It’s been bad for a while, but now it’s going to accelerate. So we’re kind of coming to this vortex of a bunch of things happening all at once and it’s going to be, you know, a little, a little disturbing going we think into the fall and winter of next year.

Well, we haven’t ever dealt with our, we haven’t had a recession. We’re way overdue. So who’s your typical customer? High net worth individuals, family offices, registered investment advisors and individuals who just want to, you know, know what’s going on and can they join as a subscription or how do they get your information? Well, they can go to our website and they can buy one or one or all of the reports. We did consolidate three of our real estate reports into a real estate package with a video and a presentation. That’s awesome. Okay, so what can you tell an average person on the street what they should do? They wouldn’t necessarily be your customer focus and they need some help too.

What would you tell them to do? Well, look, I was early unfortunately, because we didn’t know that the Biden administration was going to spend one and a half trillion dollars on bringing 20 million people in. Warren Buffett was early as well. We’ve been saying raise some cash in your portfolio to use as dry powder when asset prices come down. So you don’t want to time the market, but you want dry powder. And so if you raise 25% cash and the stock market goes down 40, 50%, you go back in. So just have cash sitting there so you can invest because things are going to drop.

Yeah, that’s it. And the timing is unclear. Don’t try to short the market Warren Buffett was two years early. We were two years early. But we’re pretty close now. We’ve never seen anything quite like this. This is going to be bad. Well, Warren Buffett has what, 500 billion of cash sitting there? Yeah. He owns five and a half percent of the three month t bill market. He’s got a crazy amount of cash, so. Holy crap. Okay. Well, thank you so much for joining our audience and thanks for having the courage to speak out when it was necessary and there wasn’t enough of us speaking out.

Really appreciate everything that you do. Thanks, Sarah. Great to be here. Appreciate you, Saint.
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