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The market will heavily discount today's PCE inflation data. Why? Because the US just changed the way PCE inflation is calculated: Beginning with today’s release, the US changed the methodology for 3 key PCE inflation categories and revised data back to 2021: 1. Portfolio management/investment advice 2. Computer software/accessories 3. Legal services The biggest change is in portfolio management fees. Under the old methodology, rising asset values could show up partly as higher "prices" for portfolio management services. For example, if an adviser charged 1% of assets and the portfolio rose 20%, the dollar fee would rise 20% even though the adviser did not raise the 1% fee. The new methodology uses an employment-based measure to estimate the quantity of services, reducing the amount of the increase that is classified as inflation. For software, the US now uses a broader composite. For legal services, an unpublished CPI series is being replaced because it had become "unusually volatile." We estimate the methodology alone could reduce Core PCE inflation by up to 20 basis points. In the PCE inflation data released just now, both headline and Core PCE inflation were revised down by 30 basis points for July. We do not interpret the entire 30 basis point drop as disinflation. Part of it is literally a measurement change.

If not following make sure to change that, excellent market intuition

Now that is a FADE!!

It is now been over a year since Iryna was murdered. Her killer is currently in a four month treatment program to “restore his mental capacity” This nation’s idea of justice is deeply, deeply warped

Long $ES here

British WW2 veteran's message: "The sacrifice was not worth it, for what the country is now. We are worse off to when I fought for the country." Do you agree? 🇬🇧

This question is one of the great barriers between a profitable and unprofitable trader

What a great video

BTC

Zohran Mamdani says America should look into Islam and follow the example of “Prophet Muhammad” on migration. Fun fact: After conquering Mecca, Muhammad deported all the Christians and Jews and banned them from entering the city ever again. To this day, non-Muslims are prohibited from entering Mecca because they are considered dirty and impure. Does Mamdani want to turn New York into an all-Islamic state like his prophet did in Mecca?

The 2023 Canadian wildfires released ~647 Mt C in five months (per the Nature study). Canada's annual fossil fuel emissions are ~150 Mt C. That's roughly **4.3 times** more carbon from the wildfires than the country's yearly emissions from citizens and industry combined. (Note: ~421 Mt C came from managed forests; the rest from remote/unmanaged boreal areas. Wildfire carbon is part of the natural cycle and can be reabsorbed as forests regrow, unlike fossil emissions.)

Defense is 8% of US government spending. Education 15%! Welfare is 47%!

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Call in the Federal government. Start mass denaturalising of all subjects who show contempt to the USA and are practising Sharia law. Too harsh? They will do harsher to you, once they gain majority power.

Best prediction of my trading career hands down

Yes

RT @DavidSolomon: Congratulations to SpaceX on today’s $75B IPO, the largest ever brought to market. Goldman Sachs is honored to have ser…