Good morning! 🌞 

Here’s a response we received from Terry with regards to yesterdays intro:

“You can see that he is so constipated he is completely miserable. The last time he played here in Houston, people were complaining about how he looked and the local rock 'n' roll review guy said "I just have one question:  "So What?  It's ELVIS!"

We fully agree with you, Terry!

Entertainment

10 Billion Dollars for a Gardener!!

Nicolas Puech, the 80-year-old heir to the luxury clothing brand Hermès fortune, is reportedly considering an unconventional way to distribute his wealth. According to the Swiss publication Tribune de Genève, Puech is thinking about naming his former gardener and handyman, a 51-year-old man of Moroccan descent, as his heir. With a net worth estimated between $10 billion and $11 billion, Puech may pass on a significant portion of the Hermès fortune to this individual. The legal proceedings for this arrangement have already begun.

Puech, the fifth-generation heir of Thierry Hermès, the founder of the fashion house, has faced family challenges, particularly during the acquisition of 23% of Hermès by LVMH in 2014. He resigned from the supervisory board at that time due to conflicts within his family.

That gardener must have done an exceptional job at taking care of Puech’s plants!

Economy

Inflation Going Down!

Wholesale inflation experienced a significant decrease in November, falling below the 1% annual rate. This is primarily due to a 1.2% monthly drop in energy costs, mostly from reduced gas prices, as reported by the Labor Department on Wednesday.

The core index, which excludes energy and food costs, increased by 0.1% and is currently running at a 2.5% annual rate. Most of the readings came in lower than anticipated.

November's Producer Price Index compares to the revised October figure, which saw a 0.4% decline, marking the largest drop since April 2020.

Kathy Jones, the chief fixed income strategist at the Schwab Center for Financial Research, commented on social media, "All categories are seeing continued decline. Energy and food deflation, but services and other goods price increases are also slowing down."

The report follows the release of the consumer price index on Tuesday, which showed a 0.1% inflation increase in November 2023, translating to an annual rate of 3.1%, a decrease from October's 3.2% and the lowest pace since early 2021.

Two key components of the November CPI were an acceleration in shelter inflation and an increase in the index for used vehicles. However, market indicators of the prices of those items have shown recent declines.

"The good news is that leading indicators of both used cars (according to wholesale used vehicle auction prices) and shelter (such as the Zillow rent price index) suggest that these upside pressures will fade," said BCA Research in a client note on Wednesday morning. "Thus, the disinflation trend will continue in 2024."

The positive trend on inflation coincides with the Federal Reserve's meeting on Wednesday to decide on interest rate policy. Economists expect the central bank to leave rates unchanged but will be watching for potential rate cuts in 2024!

Hopefully we all can see this reflected in our monthly expenses! 😉 

World News

Amateurs Discover 15th Century Royal Palace

A group of local history enthusiasts who are members of the Collyweston Historical and Preservation Society (CHAPS), uncovered the buried remains of Collyweston Palace, once owned by Margaret Beaufort, grandmother of Henry VIII. Operating on a modest budget and armed with enthusiasm, the amateurs used ground-penetrating radar to locate the palace in Northampton.

Despite being listed as a historical site since 1967, the only visible signs were fish ponds and a barn. CHAPS' radar scans revealed buried walls and foundations, marking a significant find. With £14,000 ($17,500) in local grants, they've progressed to the second stage of excavation. The project not only identified the palace's foundations but also caught the attention of better-funded professionals. Ongoing radar scans and careful excavation aim to reveal the purpose of each building and preserve artifacts for a local museum exhibit at Lady Margaret’s Chapel in Collyweston.

Sports

Messi's 2022 World Cup Jerseys Sold for $7.8M

Six of Lionel Messi's jerseys from Argentina's 2022 World Cup victory were sold by Sotheby's Auction House for $7.803 million with buyer’s premium.

The six jerseys, with Argentina’s distinctive light blue and white vertical stripes, were worn in two group stage matches against Saudi Arabia and Mexico, and in knockout-round wins over Australia, the Netherlands, and Croatia. They were also worn in the final against France, where Messi and La Albiceleste secured the trophy through penalty kicks.

A portion of the proceeds will be donated to the UNICAS Project, led by Sant Joan de Déu Barcelona Children’s Hospital with the support of the Leo Messi Foundation, which helps children suffering from rare diseases.

If you have any uplifting stories and experience you might want to share, send those over to [email protected] for the chance to be featured.

Mind Stretchers

⁉️ 

What's lighter than a feather but impossible to hold for much more than a minute?

Answers to yesterday’s Mind Stretchers:
A feather 🪶 

Big props to Bea Walter for conquering yesterday's Mind Stretchers! Cheers to your sharp mind and quick wit! 💡 

Be the first to send us the correct answer for today’s mind stretcher for a shout-out with the answer tomorrow. Just send us the answer and your name to [email protected]