Hello, fellow rebel capitals, hope you're well.

So we have the new GDP numbers out, or at least the revisions.

And the GDP revisions are starting to look a lot like the non-farm payroll revisions.

I think you guys know exactly what I'm referring to.

But we're not talking about a slight downward revision.

We're talking about huge downward revision. So let's dive into the details, see what's happening,

and then also try to connect the dots with the labor market, because that is so important.

And then also AI.

I think that's a big, big component of what we're seeing

and what we will see throughout the rest of 2026.

Okay, who knows where Josh is?

You guys can decide, is he swiping on Tinder?

Or is he swiping on Grindr?

I don't know.

You guys let me know what you think in the comments.

But the bottom line is he is MIA.

So I'm going to do my own screen share.

And let's go over to where do we want to start.

Well, let's start right from the horse's mouth, the B-E-A.

In fact, let me zoom in for you guys. So you can see this. Let me make sure the screen share

is actually working. Yes, it is. Okay. Oh, view. Zoom in. There we go. All right.

So the GDP, this is the second estimate.

...