The Fed's new chair wants to strip "outlier" prices from the CPI calculation — right when prices are the highest they've been in years. 4.2% inflation is additive: it stacks on last year's, and Jerremy Alexander Newsome and Dave Conley say rewriting the formula isn't the same as fixing it. Gold and silver just printed a weekly double top after running from $1,700 to near $5,000 an ounce — Jerremy called the reversal in April. The SpaceX IPO at $1.7 trillion — the largest in human history — already pulled 8% out of the QQQ as institutional funds liquidate positions to buy in. In a K-shape economy, the sleeper play isn't chips: it's TJ Maxx, Dollar General, and Five Below.

Timestamps:

• (00:00) Fed's redefining inflation math — not fixing the actual prices
• (03:20) "Transitory" is back — Dave explains why it's still a lie
• (05:07) Gold and silver double top Jerremy flagged back in April
• (06:18) Energy ETF compressed since March — big directional move loading
• (07:19) SpaceX IPO pulling 8% out of QQQ as funds liquidate
• (08:52) $1.7 trillion — the largest IPO in human history, visualized
• (10:59) Lock-up vesting and brain drain — Dave's AOL experience applied to SpaceX
• (13:09) Sam Altman's sovereign wealth pitch on Capitol Hill for AI stocks
• (14:45) K-shape economy plays — why TJ Maxx and Five Below are scorching

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