Former Wall Street money manager and financial analyst Ed Dowd of PhinanceTechnologies.com is back with an update of a report on “Danger of Deep Worldwide Recession in 2025.”
It was not just heavy government spending on illegal immigration, but “mind shocking” fraud that has been revealed with DOGE (Department of Government Efficiency).
Investigators have uncovered $115 billion so far with many hundreds of billions more to be exposed. Dowd says, “Both sides of the aisle are probably going to have problems…”
“The DOGE revelations are mind shocking. The clear way in which the government was spending money through NGOs (non-governmental organizations) and people taking kickbacks and profits along the way is going to come out. There may have been theft along the way. What business does Stacy Abrams have getting $2 billion for an NGO? This doesn’t make any sense. It’s going to be shocking, even shocking to me. I knew there was rot in the system, but the mind blowing way the NGOs were used to facilitate the illegal immigration just blows my mind. The 10 million plus illegals that came in over the last four years, you just don’t wake up one day in Central America and say I am going to the Darien Gap, and go to the Mexican border and then meander my way into the interior of the US without a tremendous amount of aid along the way.
NGOs facilitated that and probably took their cut. What was the all-in economic cost of the goodies they got once they got here? Plus, the NGOs spent and what the government spent themselves to facilitate this, it’s not hard to imagine $50,000 to $100,000 all-in cost per illegal. . . . This is the all-in cost up and down the entire economic food chain. . . . It was anywhere between $500 billion to $1.5 trillion depending on the illegals. It was an illegal project funded purposely, and it was very logistical. It was not something that just happened overnight.”
The result, says Dowd, was the US economy was propped up when it should have already tanked. Now, all this spending on this illegal invasion is going away. Dowd says,
“When we wrote our report, we were surprised on how fast DOGE would get to work. . . . This is why our thesis is playing out a little quicker than we thought. . . . The housing market was on fragile ground the last year or so. It was held up by illegal immigrants supporting rent prices. So, as that unwinds, we think there will be a mini 2008–2009 housing issue. Housing prices are going to come down, and that is a big driver of consumption in the economy. That needs to happen because home affordability is off the charts.”
Dowd also see a recession coming as the government downsizes, illegal alien funding gets cut and illegals continue to self-deport. Dowd says,
“Consumer confidence has taken a nosedive recently, and you can see why. There are 10 million to 15 million illegal immigrants worried about their gravy train coming to an end. So, they may be holding back on their spending. There are millions of government employees worried about their jobs.
Then, you have the NGO networks that employ about 6 million people. So, you have about 20 million to 25 million people that are in the workforce . . . worried about where their money is going to come from, and that can cause consumer spending to slow down.”