Topic: Commodity Boom

Dowd highlights China's severe demographic decline and real estate crisis, noting that the Chinese leadership's primary fear is their own population. He recalls his time at BlackRock when energy teams observed that the CCP's "deal" with its citizens depends entirely on maintaining high employment. Dowd suggests that the current trade war could accelerate China's internal instability, potentially leading to a "Black Swan" event or war.

The Trends Journal forecasts a significant economic crash as the Federal Reserve is forced to raise interest rates to combat surging inflation. Gerald Celente points to rising prices in lumber, copper, and oil as indicators of a "Greatest Depression" on the horizon. He argues that the current housing boom and stock market highs are artificially propped up by cheap money and are unsustainable.