We now have: 1. Rate cuts into 2.9%+ Core PCE inflation for the first time in 30 years 2. Rapidly deteriorating US labor market outlook 3. Deficit spending running at over 2 trillion per year 4. Jobs reports suspended due to government shutdown 5. Two more Fed rate cuts in 2025 into stagflation 6. 100B+ per quarter in AI CapEx by the Mag 7 Own assets or be left behind.(The Kobeissi Letter)