Hello, fellow Rebel Capitals. Hope you're well.

I am here once again with my good buddy Chris Irons from the fringe finance substack.

Did I get it right, Chris?

Yeah, you did.

And I enjoyed your thumbnail today.

It was very demure.

Oh, dude, it's not just the thumbnail.

Notice?

And there's no hat.

Yeah, that's good. And I'm also not wearing a hat.

I'm showing off my incredible hair. We're showing off what we're made up. We're almost like

reciprocals and are not reciprocals and math, whatever you call, like fractions that cancel out.

You got it on your head and I got it on my beard. So if I move my head down, we kind of even out. There you go, buddy. There you go. Well, dude, we got a lot to talk about, man. First and

foremost, home sales, pending home sales at their lowest level ever since they started

keeping track, which I think was 2000, 2001. And that's not adjusted for population.

So obviously population a lot higher now.

That's a significant number.

So we've got to talk about that.

Then we've got the jobless claims spike.

The number was higher than expected today.

Potential softening in the labor market.

And then we've got to look at the Fed's recession indicator. So I think yesterday I talked about how CNBC came out now that Trump's in office. And they're saying,

...