about Meta's off balance sheet transactions which are usually found in the notes to financials, I forget what he said, so I'll just give you what I found. Data center leases signed but not in effect are about $340 billion, $80 billion of that is just since July. There are another $348 billion of non cancelable purchase commitments, $81 Billion comes due in 2027. Laura Martin says if they come clean with $628 Bill. in off balance sheet debt Meta's PE ratio will rise 35%. You have to see what they say this quarters earning were taxed at.a tax swing gave them a -5% rate for the first half.

Their auditor sees it fit to cover their @sses;

• The Louisiana data center ("Hyperion") sits in a joint venture with Blue Owl funds. Meta owns 20% and does not consolidate it, so the venture's debt is not on Meta's balance sheet.sec

• Meta still guarantees the buildings' resale value up to about $28 billion. It says payment is "not probable" and has recorded no liability. Its own stated maximum loss on the venture is $46.03 billion, against a $2.92 billion investment on its books.sec

• Meta's auditor, Ernst & Young, flagged this accounting as a "critical audit matter" in the 2025 annual report, meaning it took significant judgment to sign off on.villpress

• Meta repeated the setup in July for an El Paso campus with BlackRock: another 20% stake and about $13 billion more in value guarantees.

It looks like Zuckiemonster went to the Jensen Huang School of Accounting.

Starting January 2025, Meta assumes most servers last 5.5 years. That cut 2025 depreciation by $2.92 billion and raised net income by $2.59 billion, or $1.00 per share. IT IS INTERESTING TO NOTE THAT AMAZON IS NOW GOING THE OTHER WAY ON THIS AND SHOTENED SERVER LIVES. Construction depreciation rose from $50.5 Bill to $80.3 Billion.

Meta's $628 Billion in Off-Balance-Sheet Commitments: After Valuation Recalculation, Google Emerges as the Priciest Mega-Cap — BigGo Finance

Last Wednesday saw the (X) wave of {Z} . We then made an 'x-y-z' "x" wave of (Y) into early Thursday, breaking the rising wedge followed by a 'y' wave rally inside the wedge, followed by yet another irregular pattern x topping pattern y followed by z into Friday the 16th completing [X] of (Y).  On Monday, the SPX rallied [w], then fell into "x" of [x] this morning followed by "y" of [x]. We are in "z" of [x], having completed 'a' and now sideways 'b'. 'c' of "z" hits early Wednesday and takes out the previous impulse from Oct 1 (7616 SPX), which was a 9 TD low from the previous FED 34 TD low, making tomorrow a 9/14 23 TD low from the September FED meeting.

What we are witnessing is a highly rare double [X] and [x] of (Y) on top of (X) of {Z} itself low developing. What this means is tomorrow's drop (7616 or lower to 7610) will then rally in what is known as a powerful third of a third [y] of (Y) wave of {Z}!

Bottom line: I expect a huge rally to about 7828 SPX from tomorrow's low (or at least 7809/10) and then a small pullback at day's end (7809/10) and then a final rally to new high's early Thursday to 7878/79. This will set up a massive NEG D, both inter market and non-confirmation on the MACD and Stochastics Oscillators, even down to the daily (even weekly).

This pattern gives me at least a target of 7394 to as much as 7388 SPX by early Monday morning next week, down around 490 pts! This big drop will launch the SPX and a few other indexes to new highs by Nov 3 to around 8040 SPX. This high will be THE top, before a massive ~40% drop into Nov 25!

speech in the European Parliament.........

https://www.youtube....rts/HaZL_mBssz8

I might decide to move to Poland 

deportation from Europe of all those that don't respect our laws, he means........... 

Starting with Europe, a deep correction in financials is close to ending. A bottom is close and in some days we should reverse the bearish trend underway to set up new highs in coming months.

But probably this one that is ending, represents the big correction that very often is a prelude to the last market's rise leading to a market LT top. Next Spring probably the bullish

trend that went on for the latest years, is over. The US too should start to rise soon to reach a top next Spring as well. My current market idea.