According to Edward Dowd, consumer cash-flow weakness is triggering an end-of-cycle credit feedback loop in which lenders pull back, over-levered companies face rising bankruptcy risk, and margin stress will eventually hit AI stock favorites; he cites halted cash flows at First brands, Tricolor, and PrimaLend as early signals and adds that rate cuts do not occur in a booming economy. Source: Edward Dowd on X, Oct 29, 2025. For traders, Dowd’s warning points to tighter liquidity, forced deleveraging, and downside risk across high-beta assets; equity and crypto portfolios (including BTC, ETH) should prepare for volatility spikes and correlation jumps if stress broadens. Source: Edward Dowd on X, Oct 29, 2025.