Senior editor, Ash Bennington, joins managing editor, Ed Harrison, to talk about the risk of an equity drawdown for retail investors in particular. Ed and Ash explore how market volatility is increasing and the fact that bond yields globally have converged to zero makes a drawdown that much more severe. They also talk about how the activity in the derivatives market is playing into the uptick in market volatility. Ash also hosts James Altucher to discuss his recent article in the New York Post about the narrative of the death of cities, and Ed and Ash provide their thoughts. In the intro, Nick Correa discusses Australia's slide into recession after almost 3 decades of economic expansion.