And I got to tell you, I mean, the longer it goes without you on this program, the more aggressive the comments that I start getting about, hey, get her back on. All right. Well, folks, Stephanie, definitely go check right at macromavans.com. Stephanie, when I edit this, I'll put the links up on the screen. So, folks know where to go. Also, put them in the description below, folks. But Stephanie has very kindly agreed to be a contributor to the new Macropass service for my premium sub stack folks. So, premium sub stackers, you can rejoice for that. And she has also agreed to return as a presenter for the Falfill Money's Fall Conference. And the date fed has just been set. So, you guys are the first one to hear about it. It's going to be Saturday, October 19th. Mark your calendars. More details on that will be forthcoming over the next bunch of months. We got plenty of time. But I wanted to make sure that we could secure Stephanie if she was available. Thankfully, she is. And again, for those of you that are really interested in participating, I wanted you to mark that calendar. All right, Steph, it's just always so fun and such a joy. This was no exception. Thanks so much for coming on and for bringing Wilhelmin in too.

Oh, well, thank you. It's a pleasure to be with you always. And she says hello. So.

All right, Steph, look forward to seeing you on the channel again soon.

Thank you. Take care. All right.

Well, now is the time of the program. We bring in the lead partners from New Harbor Financial, one of the endorsed financial advisory firms by Falfill Money to give their reaction to this great conversation that we just had with Stephanie, as well as give us their update on what's been happening in the markets over the past week. I'm joined as usual by lead partners, John Lodra and Mike Preston. Guys, great to see you. Thanks for joining me for your another week. Let's see. Mike, let's start with you. What were some of your key takeaways from the discussion with Stephanie?

Hey, Adam, great to be here. Thanks. Steph had so much facts packed into this, you know, this hour that you and she just talked, I've got a page and a half full of notes. I'd like to just hit some some high points. I learned some things like I do every time I watch one of your interviews, and this was no exception. Steph talked about her outlook. You asked her what her outlook was on the market. She said the fastest interest rates rate hikes in history are going to matter eventually. I look back at a chart of the Fed funds rate. It's been over two years. In March of 2022, the Fed started to raise rates. And so it's been a long time the bond market has plummeted since that since those rate hikes started. In fact, the bond market had a larger peak, the trough drawdown than the S&P 500 did during the 2008 bear market. But the stock market hasn't really paid attention. The stock market hasn't cared. Rates are now at 5.25 or so on the one year treasury. And we heard for so long that rates are zero. There is no alternative or TNA. And I see that you're bringing up the Fed funds right there. You know, and so that's a massive, jump there in a very short period of time. And there's always, if you look at this chart, the gray area, there's always been some kind of recession after that. Right? So it hasn't happened yet. This has been quite a lag. You talk a lot about the lag effect, Adam, and we're seeing it in real time here. So that was like the thrust of the beginning of our talk.