Hello, fellow robo capitals, hope you're well. So we talked about the election. We talked about

freedom of speech. We want to get back on to the topic of macro. We've got a lot of companies,

big companies reporting today and yesterday. So I want to get into what they are saying, this insider intel, about the U.S. economy and see we can connect some dots.

So let me do the screen share.

Let's start by going over to Zero Hedge.

There we go.

And as you would expect, every single company that comes out that has negative earning or poor

earnings or that earnings undershoot the expectations, they're going to do what?

They're going to blame it on the election.

What I think is interesting, though, is what Marriott is saying today that the decline in demand they have seen is double that of past

election cycles. So, you know, the Bulls would sit here and say, well, this is what you would expect. It's

because of Trump, Kamala, blah, blah, blah. Maybe, maybe not. It sounds like they go back and they obviously study, they have their own records,

and they can show how much demand declines.

And the fact that we've seen it decline double or to this degree would lead me to believe

that maybe there is something that's impacting demand for hotel rooms

above and beyond just the election, which in of itself doesn't make a lot of sense to me,

but maybe this election does because especially in areas like Portland and Seattle, New York,

the probability for riots and social unrest is probably

pretty high, maybe Washington, D.C. even. Shares of Marriott International slump 2% on Monday

after the Bethesda Maryland Company Hotel Company, after the Bethesda Maryland-based

hotel company, excuse me, slashed its adjusted earnings per share guidance for the full

year.

...