I don't know about you but I already forgot about last week's data and last Friday's PCE. So I guess in honor of Oasis reuniting we won't look back in anger, not that PCE was dissappointing and personal income hung in there, so nothing to be angry about. Nonetheless we'll turn our attention to labor market data as the headlining act this week.
Speaking of labor:
"If a workman's wages be sufficient to enable him comfortably to support himself, his wife, and his children, he will find it easy, if he be a sensible man, to practice thrift, and he will not fail, by cutting down expenses, to put by some little savings and thus secure a modest source of income. Nature itself would urge him to this. We have seen that this great labor question cannot be solved save by assuming as a principle that private ownership must be held sacred and inviolable. The law, therefore, should favor ownership, and its policy should be to induce as many as possible of the people to become owners." - excerpt from Rerum Novarum, Encyclical of Pope Leo XIII on Capital and Labor, May 15, 1891
I think we already forgot about R-Star and all that's left is now whether Jobs data is going to mean 25 or 50bps of rate cuts.
We shouldn't forget about geopolitics and upcoming elections.
On the week ahead:
Tuesday: S&P mfg pmi, ISM mfg, construction spending
Wed.: JOLTS, factory orders, durable goods
Thur: ADP, jobless claims, ISM services
Fri: Jobs Day, Williams and Waller
XTOD: It’s so commonplace to see stuff like this now. You should see this for what it really is, an attack on civilization and prosperity. Misery is not virtuous. We are not here for managed decline. Don’t fall for it. Civilization and prosperity are good, actually. We are going to win
XTOD: “I'm not terribly affected by the fact that the crowds are agreeing with me or disagreeing with me. I'll do whatever my own sense tells me. The trick is simply to sit and think.” — Warren Buffett
XTOD: Most people don’t lack talent or intelligence, they lack faith in themselves, they lack a clear vision of who they want to be, they lack the patience to follow through their long-term goals.
XTOD: Now is the time to stop drifting and wake up—to assess yourself, the people around you, and the direction in which you are headed in as cold and brutal a light as possible. Without fear.
XTOD: “A majority of life’s errors are caused by forgetting what one is really trying to do.” — Charlie Munger
XTOD: It was always an awkward moment when someone needed the red bat.
“Yeah, Timmy, you can play but you gotta use the red bat.”
“But I wanna use the yellow bat like everybody else.”
“Motherfucker, you went 0-for-46 yesterday. The yellow bat is no longer an option for you.”
https://pbs.twimg.com/media/GWQYvsWWsAAPxI7?format=jpg&name=large
https://x.com/InvestingCanons/status/1829457689568571485
https://x.com/orangebook_/status/1829488161942351974
https://x.com/RobertGreene/status/1829549885198303334
https://x.com/InvestingCanons/status/1828961487534113024
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