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The single best idea it's an uneventful Monday before Christmas, the holiday season. Not it was really really something that a huge news flow, of course paramount on Netflix. Paul Sween a huge hope there, but just all sorts of other news flow out in Japan, we're really focusing on. Look over the coming days weeks and frankly into January for further discussion of the Pacific Rim. In Japan. It's simple there prices down on debt and yields up. That
causes some real as David Kelly's aware of this. He drives global investment strategy for all of JP. Morgan can't say enough about his work. He's been debt on on non farm payrolls that decline there in the monthly labor statistics even with the government shut down. Here's David Kelly forward on GDP.
I think if it continued into the first six months of next year, then I think the FED would ease earlier. But I think I think we'll see a little pick up, as I said, because of income tax refunds. I think we'll see a pickup and growth, and I think that will stench the bleeding for for a while, but then you know, maybe later next year we do get ray cuts. But I want to make it clear, rain cuts won't
fix anything here. The problem, the problems that this economy faces, have got nothing to do with interest rates or interest rates being too high anyway. So yes, it may force the Federal Reserve into cutting more aggressively later next year if the eclumn, if we don't sort of put some more artificial stimulus into the economy, which we may well do.
Classic David Kelly, I can't say enough how I agree with him. The media focus on rates, and you've heard me say this is a parlor game, is borderline comical. I understand it has ramifications for those trading and bedding on the future of FED decisions on the future of the American economy. But in terms of the mandate of well meaning people, whatever the politics in Washington, how much
is an interest rates strategy really affected. I go back to what I went back and forth with David ger on this today as he spoke to Stephen Myron with Anne Marie Horden, and I said to David, I said, the financialization of America tells me that any kind of conducive rate strategy is just fuel for the haves, and I stand with that. And of course we see the markets today buoyant, to say the least. Lori Kelvisina in today, Lori Kelvisina here on the dynamic between large companies and less large it.
Really started in September, right after back to school. AI jitters from people who were real believers in the trade and had been there but had sticker shock on valuation. You know, I think I heard less about private credit concerns in December than I did earlier in the fall. That I think that's sort of the back of people's
minds as well. And frankly, this rally we had off of the April lows was faster and more powerful than any growth scare bottom that we've seen in the post financial crisis era.
Lri Covesina optimistic. I do want to make one note, Janie taken up by Nelson Peltz's shop Treon today the active manager out of Denver, Janis Henderson, and I just have to stay. Telly Lagier was in today with Wealth Capital and his optimism here of up fifteen percent, sixteen percent or even more for next year. Just Tampa's shelf extraordinary optimism with so many people out there relatively scared stiff. On podcasts, we're at Appleworth, Spotify and YouTube. Podcasts at single best idea