RUSH TRANSCRIPT Let s ░░░░░░░░ in schuyler wine or ░░░░░░░░ investment officer at Reagan ░░░░░░░░ in Dallas Texas schuyler ░░░░░░░░ speaking how resilient do ░░░░░░░░ expect the market to ░░░░░░░░ in the face of ░░░░░░░░ geopolitical shocks Consumers and ░░░░░░░░ are in a better ░░░░░░░░ to and they ve ░░░░░░░░ ever been in history ░░░░░░░░ re flush with cash ░░░░░░░░ been paying down debt ░░░░░░░░ yes government debts were ░░░░░░░░ down a huge huge ░░░░░░░░ Interest rates are still ░░░░░░░░ boy we work in ░░░░░░░░ system works all kind ░░░░░░░░ relative terror levels or ░░░░░░░░ down bit by bit ░░░░░░░░ huge news with the ░░░░░░░░ U K the u ░░░░░░░░ signing that agreement walters ░░░░░░░░ and the Middle East ░░░░░░░░ still going on Ah ░░░░░░░░ shock that that we ░░░░░░░░ witnessed at five days ░░░░░░░░ or so that s ░░░░░░░░ being so as we ░░░░░░░░ away from from the ░░░░░░░░ news and from terrorists ░░░░░░░░ dope liberation day levels ░░░░░░░░ get better bit by ░░░░░░░░ as folks go back ░░░░░░░░ work hunker down and ░░░░░░░░ to spend money Interesting ░░░░░░░░ there we did see ░░░░░░░░ news out this morning ░░░░░░░░ consumer spending showing that ░░░░░░░░ actually declined more than ░░░░░░░░ in the last month ░░░░░░░░ are you make of ░░░░░░░░ Yeah it s folks ░░░░░░░░ trading down as well ░░░░░░░░ you know the folks ░░░░░░░░ were shopping high end ░░░░░░░░ going going middle on ░░░░░░░░ folks our shopping at ░░░░░░░░ or now shopping at ░░░░░░░░ or lower call it ░░░░░░░░ oldie So again this ░░░░░░░░ relative this year over ░░░░░░░░ and you re looking ░░░░░░░░ folks not having as ░░░░░░░░ money in their pocket ░░░░░░░░ as well as being ░░░░░░░░ little bit more conservative ░░░░░░░░ cooking at home versus ░░░░░░░░ out to eat so ░░░░░░░░ It s it s ░░░░░░░░ Fed has this going ░░░░░░░░ Where folks are spell ░░░░░░░░ was money prices have ░░░░░░░░ topped out into inflation ░░░░░░░░ is right near that ░░░░░░░░ percent target which would ░░░░░░░░ them to potentially start ░░░░░░░░ as early as September ░░░░░░░░ wanna thank you for ░░░░░░░░ the time with us ░░░░░░░░ Thank you To the ░░░░░░░░ of oil. Now it’s