John Case

It's good news.

4% better than last year.

That's something we can look at and go, eh, it's pretty good.

Yes or no?

It's great news.

And in fact, we got two actually stats this morning.

The visa news on one end, which is very helpful, and then we got Q3 numbers for the economy on the other.

That actually just came out at 8.30 this morning and overshot by a large expectation.

We were supposed to get that number, by the way, back in October, but because of what was happening with the government shutdown and the other issues, we didn't.

But nonetheless, that number is huge, 4.3% on GDP.

So you have, I think what looks increasingly like a,

a surprisingly healthy economy, actually perhaps more healthy than we've given it credit for.

Andrew, we do need a caveat here, and I'm sure we'll figure this out later, but I know a lot of spending has been driven by the richest of the rich, and that's artificially pushed that number up.

So we'll have to sort through this, but if that 4% is broad-based, that's really good news.

Steve, I have a kind of like a deja vu moment.

I can't tell whether this is 2017.

Or 2025, because back in 2017, it was the same rhetoric on TV.

They continually underestimated the ability of the Trump economy to grow.

And they continually overestimated.

the effects tariffs and trade policy might have on the inflation rate.