Hello, fellow rebel capitals. Hope you are well. We have a lot to go over. The new jobs data shocks the market.

And the Fed comes out with a study that I think will answer a lot of your questions.

It'll all start to make sense here in a moment. But let's first and foremost go to the jobs.

number, the jolts came out today. Holy Toledo. Look at this. U.S. job openings climb

to the six-month high. That's good news. The bad? and this is where it starts to get a little weird.

Businesses aren't hiring very quickly. Now, before we get into this, I want to back up a little bit

and look at what the market was expecting. So you can see the calendar. Last month, we had 7.4 million.

We were expecting, we, the market, was expecting 7.3 million.

So a decline due to uncertainty, the job market weakening, the economy slowing.

But instead, job openings skyrocket to 7.8. So it's not just, oh, it's pretty good or it's the best in six months.

I mean, this is 500,000 more than expected. I mean, that's a big deal. That's a big deal.

And ISM beat the numbers, although still in contraction.

Remember with the ISM, anything under 50s contraction. But I mean, this in and of itself,

I mean, you just look at that surface level. That's great news. So that's why I put in the

thumbnail, the picture of Trump's. And I told so I told you so these tariffs are going to

bring back a lot of jobs the United States economy it's going to be booming but then once you

kind of look underneath the hood things start to change and oh by the way you got to sit down

for this video because in a moment, we're going to go over

that report from the Federal Reserve talking about the state level GDP. You guys are going to

find this fascinating. But in addition to that, I want to look at Florida more specifically and think

about what's happening to the real estate market there

and how that in and of itself could be a canary in the coal mine for the overall economy,

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