Via Greg Hunter's USAWatchdog.com,

Former Wall Street money manager and financial analyst Ed Dowd of PhinanceTechnologies.com warned in December we were "At the Beginning of Credit Destruction Cycle." 

Renowned hedge fund BlackRock was the latest victim of credit destruction with this week's headline that said, "BlackRock cuts value of private debt fund by 19%, waives fee."

Dowd is right—again.

It's going to get a lot worse, according to Dowd's latest report called "US Economy Outlook 2026."  Dowd says, "This is a big call, and what is going to happen does not happen that often..."

"  We will try to call the bottom in the future, but right now, I have never seen risk like this before in my career. 

This has been unfolding. . .. I have not been wrong in the 2025 call.  The stock market did go up 17%, but the rest of the economy imploded.  Real estate started rolling over...

Unfortunately, because this is such a bubble because they kicked the can down the road . . . the odds of this happening fast have increased exponentially since the beginning of 2025."