WEBVTT - 11-24-25 America's Truckin' Network

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<v Speaker 1>This is America's Trucking Network with Kevin Gordon.

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<v Speaker 2>Welcomeabre thanks for tuning in as we head into this

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<v Speaker 2>Turkey week here on America's struck A Network. Thursday night,

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<v Speaker 2>my wife and I went out and before you know

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<v Speaker 2>the show Friday morning, we went out and we got

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<v Speaker 2>our turkey. We got a couple of things because you know,

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<v Speaker 2>Thursday was thaw day, as we've mentioned, and we want

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<v Speaker 2>to make sure that we got a proper turkey. Now,

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<v Speaker 2>what we wound up doing is instead of getting a

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<v Speaker 2>frozen turkey, we actually found a fresh, organic turkey, and

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<v Speaker 2>we wound up spending seventy cents less per pound than

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<v Speaker 2>what we did for a frozen turkey the previous year. Now,

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<v Speaker 2>going out and looking at the various prices and stuff,

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<v Speaker 2>I was seeing prices as low as thirty three cents

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<v Speaker 2>a pound, some around fifty nine cents a pound. And

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<v Speaker 2>so the price of turkey is not going to break

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<v Speaker 2>the budget as far as your budget this year. As

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<v Speaker 2>far as Thanksgiving, we've also seen last week and the

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<v Speaker 2>week before where Walmart and Target have priced their fixings

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<v Speaker 2>and everything that goes with the meal down to where

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<v Speaker 2>it's actually four dollars I think the target was less

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<v Speaker 2>than around four dollars per person feeding a group of ten,

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<v Speaker 2>and Walmart was right within the same ballpark, So doing

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<v Speaker 2>it right and doing a little bit of shopping does

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<v Speaker 2>pay off. Now, what we did do, we did start

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<v Speaker 2>our preparation because there's a salt well, you know what,

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<v Speaker 2>I don't even know what to call it. My mom

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<v Speaker 2>used to call it cranberry sauce, But cranberry sauce is

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<v Speaker 2>basically what you get out of the can and so on,

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<v Speaker 2>and maybe some orange in it. But this concoction is

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<v Speaker 2>jello and it's got apples and celery and pecans in

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<v Speaker 2>it and firms up pretty good. But I find it

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<v Speaker 2>absolutely delicious. Now, we did tweak it a little bit

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<v Speaker 2>this year with adding a little bit of cherry juice

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<v Speaker 2>to it instead of just plain water, and it does

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<v Speaker 2>make it a little tarder, but we did that over

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<v Speaker 2>the weekend. As a matter of fact, we did that

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<v Speaker 2>on Sunday, and actually it usually takes a couple of

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<v Speaker 2>days for that to firm up, but it's firming up

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<v Speaker 2>pretty good, I think simply because we reduced the amount

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<v Speaker 2>of liquid to.

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<v Speaker 1>It, so together we were able to do this.

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<v Speaker 2>We of course, we used fresh cranberries, organic cranberries in it,

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<v Speaker 2>and so we were preparing this and you got to

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<v Speaker 2>do the cranberries and boil them and that sort of thing.

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<v Speaker 2>Then added sugar and jello and then chop up all

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<v Speaker 2>the stuff that goes into it. And of course, based

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<v Speaker 2>on the recipe that my mom had that passed down,

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<v Speaker 2>i'mult played that by five because you know, I want

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<v Speaker 2>to make sure that we have plenty left over.

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<v Speaker 1>But anyway, it was.

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<v Speaker 2>A lot of fun watching the Hallmark movies and Christmas

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<v Speaker 2>movies and so on. But it was interesting the way

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<v Speaker 2>it came together, having to, you know, do this and

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<v Speaker 2>get it all together. So we are on our way now.

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<v Speaker 2>This afternoon, my wife began making some she was gonna

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<v Speaker 2>make a I think a pumpkin pie, and I think

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<v Speaker 2>she made a I don't think, or maybe that's tomorrow

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<v Speaker 2>she's gonna make this flowerless chocolate cake. So she's experimenting

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<v Speaker 2>with the various deserts, so to speak. So we're having

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<v Speaker 2>a lot of fun. We're getting all ready for Thanksgiving

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<v Speaker 2>and really looking forward to the day. We're going to

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<v Speaker 2>have about ten people here at the well there at

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<v Speaker 2>the house, and so Anyway, it's gonna be a lot

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<v Speaker 2>of fun, and I'm looking forward to it. And I'm

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<v Speaker 2>I got to tell you from what I'm seeing, because

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<v Speaker 2>you know, as a recovering accountant, you know, I got

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<v Speaker 2>to figure things out. And I will keep receipts from

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<v Speaker 2>around Thanksgiving, you know, when we buy the stuff for Thanksgiving,

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<v Speaker 2>and then going forward up until about Christmas. And I've

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<v Speaker 2>kept receipts from probably and certain numbers for probably the

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<v Speaker 2>last thirty four years that we've been doing Thanksgiving. And

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<v Speaker 2>if I can remember, sometimes I'll write all the different

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<v Speaker 2>components down and put the prices next to it and

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<v Speaker 2>so on. But there's been a couple of years that

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<v Speaker 2>I've skipped. But overall, looking at the prices from this

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<v Speaker 2>year versus last year, I haven't noticed a huge difference

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<v Speaker 2>now getting into some of the numbers that I'm seeing.

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<v Speaker 2>And we had some of the reports last week. We'll

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<v Speaker 2>talk about consumer sentiment and the jobs report. But it's

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<v Speaker 2>interesting that what it appears to me what is happening

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<v Speaker 2>is that the spoon fed regurgitators in the mainstream media

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<v Speaker 2>are having way too much influence on what people are

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<v Speaker 2>thinking because of them talking about inflation because of them

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<v Speaker 2>talking about difficulties or spiking prices or whatever. It's almost

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<v Speaker 2>a self fulfilling prophecy, because when you look at food

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<v Speaker 2>prices this year versus last year, they're relatively the same.

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<v Speaker 1>Anyway, we'll get into that coming up.

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<v Speaker 2>Let's say a look at the consumer sentiment according to

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<v Speaker 2>the Survey Michigan Survey University of Michigan. Consumer sentiment fell

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<v Speaker 2>in November. According to the Michigan Survey, the survey's headline

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<v Speaker 2>index dropped to fifty one, hovering near one of the

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<v Speaker 2>lowest levels in the month's pole month poll's history. The

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<v Speaker 2>final reading was up a hair from the preliminary November

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<v Speaker 2>figure of fifty point three published two weeks weeks ago,

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<v Speaker 2>but down from fifty three point six recorded in October,

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<v Speaker 2>and it was in line with the number that economists

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<v Speaker 2>polled by The Wall Street Journal had forecasts. Now getting

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<v Speaker 2>into the numbers and digging into them, consumers who have

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<v Speaker 2>faced above trend inflation for nearly half a decade.

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<v Speaker 1>Let's back up here a second. That's a key phrase.

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<v Speaker 2>And by the way, if my voice sounds a little hoarse,

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<v Speaker 2>I don't know what's going on. I don't know if

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<v Speaker 2>it's seasonal allergies or what's going on. But it's a

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<v Speaker 2>little strain back there, not a sore throat, but just

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<v Speaker 2>a little strain. Anyway, consumers are faced above trend inflation

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<v Speaker 2>for nearly half a decade. Okay, a half a decade

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<v Speaker 2>is five years, my friends. And so the Trump administration

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<v Speaker 2>has been in office since January the twentieth. So this

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<v Speaker 2>above the trend inflation has been going on well before

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<v Speaker 2>Donald Trump came into office. And if you look at

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<v Speaker 2>the trend, the actual trend is dipping below what it

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<v Speaker 2>was during the Biden administration. Now, some of the boastful prognostications,

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<v Speaker 2>if you will, from Trump that these prices are going

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<v Speaker 2>to come down tremendously. Turkey prices have come down, price

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<v Speaker 2>of eggs have come down, and a lot of these

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<v Speaker 2>things are not related to tariffs. A lot of them

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<v Speaker 2>are not related to increased prices. What it is is

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<v Speaker 2>having to do with shortages, droughts. As far as beef

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<v Speaker 2>is concerned, the bird flu having gone through some of

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<v Speaker 2>these flocks and raised you know, when you have to

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<v Speaker 2>kill off your flocks, you're not going to producing much eggs.

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<v Speaker 2>So of course the demand is there. The supply is low,

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<v Speaker 2>so the prices are high. So when you see some

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<v Speaker 2>of those factors coming into play, those are some of

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<v Speaker 2>the things that are throwing these numbers off. But when

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<v Speaker 2>you compare as you know, Target did, as Walmart did

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<v Speaker 2>with their basket of stuff for Thanksgiving, their prices are down.

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<v Speaker 2>As a matter of fact, I think Walmart said that

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<v Speaker 2>their prices this year are lower than they were in

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<v Speaker 2>twenty nineteen, so that is a huge drop.

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<v Speaker 1>And as I keep pointing out, when you go.

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<v Speaker 2>To the grocery store, plan ahead, do a little bit

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<v Speaker 2>of online research.

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<v Speaker 1>You know, people do.

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<v Speaker 2>You know people are thumbing through their phones on a

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<v Speaker 2>regular basis, and you see them sitting around just scrolling

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<v Speaker 2>and entertaining themselves with stupid videos and stuff like that.

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<v Speaker 2>And that's all well and good. But when you could

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<v Speaker 2>spend that amount of time maybe checking with different stores

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<v Speaker 2>in your area and planning your purchase.

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<v Speaker 1>And I'm not talking about.

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<v Speaker 2>Running over here and running over there and running all

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<v Speaker 2>over town and everything. You can plot your like logistics,

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<v Speaker 2>I mean like you have to do.

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<v Speaker 1>In the trucking industry. You have to.

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<v Speaker 2>It doesn't make any sense for you to, you know,

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<v Speaker 2>take you know, being the greatest in saying northern Kentucky

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<v Speaker 2>area and do a trip down to Texas and then

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<v Speaker 2>do a trip back to Arkansas, and then do a

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<v Speaker 2>trip over to Nebraska and then find your way home. No,

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<v Speaker 2>you generally find that route that shortens the distance between

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<v Speaker 2>those points and you do it in a situation where

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<v Speaker 2>it takes less mileage. So you know, if you're in

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<v Speaker 2>the process, it's kind of getting late in the game

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<v Speaker 2>in terms of buying your stuff for Thanksgiving. But in

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<v Speaker 2>the future, if you're looking at stuff, you can say, well, Okay,

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<v Speaker 2>I'm going to be over in this neighborhood and such

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<v Speaker 2>and such, and I'm closer to this particular store. I

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<v Speaker 2>can swing by there and pick up a couple items,

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<v Speaker 2>and swing over here on my way back home and

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<v Speaker 2>pick up a couple items, and that sort of thing.

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<v Speaker 2>And it's amazing how much you can cut your grocery

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<v Speaker 2>bill just by hitting those sales and making sure that

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<v Speaker 2>you're taking advantage of what they're offering as far as

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<v Speaker 2>the grocery stores are concerned.

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<v Speaker 1>We'll pick this up a little bit coming up.

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<v Speaker 2>I'm Kevin Gordon, America Struck a Network seven hundred WLW.

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<v Speaker 2>Kevin Gordon America Constructing Network seven hundred WLW, continuing the

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<v Speaker 2>story on consumer sentiment, again reading between the lines. If

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<v Speaker 2>you learn readjust the headline, you'll get a completely different

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<v Speaker 2>feeling as far as the story is concerned. All right,

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<v Speaker 2>we left off with consumers who have faced above trend

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<v Speaker 2>inflation for nearly half a decade, remained frustrated with high

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<v Speaker 2>prices and rising prices. Survey director Joanne Sue said, though

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<v Speaker 2>the first part of November they were also contending with

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<v Speaker 2>a record long government shutdown which disrupted food aid, air travel,

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<v Speaker 2>and many workers' paychecks, and many federal workers paychecks. Now,

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<v Speaker 2>as far as this consumer sentiment report is concerned, is

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<v Speaker 2>that the only people that they identified that they specifically

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<v Speaker 2>picked out the federal workers, people with disrupted food aid,

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<v Speaker 2>or people that are air trains.

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<v Speaker 1>Was it across the board?

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<v Speaker 2>How many Conservatives, how many Liberals, how many Republicans, Democrats, whatever,

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<v Speaker 2>how many affected class versus the unaffected class. We don't

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<v Speaker 2>know these numbers. All we know is that they go

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<v Speaker 2>out and do the survey and report the numbers. But

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<v Speaker 2>when they say that people who have experienced above trend

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<v Speaker 2>inflation for nearly half a decade, over that's five years

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<v Speaker 2>folks that now just now they're starting to get frustrated

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<v Speaker 2>with high prices and higher prices. No, the prices are

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<v Speaker 2>relatively flat and in some cases coming down, and we'll

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<v Speaker 2>see that coming up in the near future and even lower.

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<v Speaker 2>Economic concerns also extended to the job market, which logged

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<v Speaker 2>a rise in unemployment to four point four percent in

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<v Speaker 2>September despite a net job creation of one hundred and

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<v Speaker 2>nineteen thousand. Now, which is interesting that we'll get too

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<v Speaker 2>later on, But if the one hundred and nineteen thousand

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<v Speaker 2>jobs that were created in that month is high, how

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<v Speaker 2>is the unemployment rate going up? Because in this next

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<v Speaker 2>story that I'll be covering talking about the jobs created,

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<v Speaker 2>it states in there about how people, how the extended,

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<v Speaker 2>the labor participation rate and some of these things that

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<v Speaker 2>affect the overall unemployment have come down. So how can

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<v Speaker 2>unemployment go from four point two percent up to four

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<v Speaker 2>point three and up to four point four percent when

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<v Speaker 2>the labor participation rate is up, the overall unemployment number

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<v Speaker 2>is down, and the weekly jobless claims are down. As

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<v Speaker 2>we talked about last week, just kind of refresh your

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<v Speaker 2>memory last week, they came up with the weekly jobless

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<v Speaker 2>claims or unemployment rates for the first week, you know,

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<v Speaker 2>the initial jobless claims for the week, and they came

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<v Speaker 2>in at two hundred and twenty thousand, which was an

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<v Speaker 2>eight down eight thousand unemployed people from the previous week.

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<v Speaker 2>The government estimates or the economist estimates had estimated that

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<v Speaker 2>two hundred and thirty thousand people would have been unemployed.

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<v Speaker 2>They were off by four point four percent on their estimates.

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<v Speaker 2>So the number of people on a weekly basis that

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<v Speaker 2>have lost their jobs are well within the range of

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<v Speaker 2>that two hundred and ten to two hundred and fifty

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<v Speaker 2>thousand that they talk about where it's been for the

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<v Speaker 2>last several months and even years. So how is the

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<v Speaker 2>unemployment rate going up when you've got more people coming

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<v Speaker 2>into the job market, and as we'll see coming up,

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<v Speaker 2>more people are now participating in the rate, and more

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<v Speaker 2>people have added into the job market.

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<v Speaker 1>It just some of these numbers just don't make any sense.

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<v Speaker 2>And I've talked about this consumer sentiment report for a

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<v Speaker 2>long time now it depends.

0:13:49.000 --> 0:13:51.360
<v Speaker 1>I would love to know who these people are.

0:13:51.679 --> 0:13:55.360
<v Speaker 2>Because the spoon fed regurgitators in the mainstream media since

0:13:55.400 --> 0:13:58.200
<v Speaker 2>the beginning of the year, in my opinion, have talked

0:13:58.240 --> 0:14:02.280
<v Speaker 2>down the economy, trashed the economy, ninety four percent, negative

0:14:02.280 --> 0:14:05.800
<v Speaker 2>coverage of the Trump administration ninety four percent or better,

0:14:06.720 --> 0:14:10.080
<v Speaker 2>negative coverage of just Donald Trump himself, let alone his

0:14:10.240 --> 0:14:12.800
<v Speaker 2>cabinet and so on. And so that's got a wigh

0:14:12.800 --> 0:14:15.719
<v Speaker 2>on people. And you know, in my opinion, as I

0:14:15.920 --> 0:14:17.800
<v Speaker 2>and I've said this before and I'll say it again,

0:14:18.200 --> 0:14:21.160
<v Speaker 2>I believe that the mainstream media, as well as Lyon

0:14:21.200 --> 0:14:25.640
<v Speaker 2>and Jerry Powell, are trying to manufacture a recession and

0:14:25.800 --> 0:14:29.360
<v Speaker 2>the resilience of the American public. The American people are

0:14:29.440 --> 0:14:33.240
<v Speaker 2>just not having any of it, and is confounding these experts.

0:14:33.560 --> 0:14:36.400
<v Speaker 2>So anyway, let me see economic concerns to talk about

0:14:36.440 --> 0:14:40.040
<v Speaker 2>four point four percent unemployment, which I don't understand. If

0:14:40.080 --> 0:14:44.120
<v Speaker 2>you've got the same relatively level unemployment numbers on a

0:14:44.160 --> 0:14:47.320
<v Speaker 2>weekly basis, why is that number going up? Looking at

0:14:47.320 --> 0:14:51.400
<v Speaker 2>the trends since the spring, many economists now estimate estimate

0:14:51.600 --> 0:14:55.440
<v Speaker 2>that employers are adding roughly just enough new jobs to

0:14:55.560 --> 0:15:00.920
<v Speaker 2>keep joblessness joblessness in check. Well, if you keep joblessness

0:15:01.000 --> 0:15:05.240
<v Speaker 2>in check, then that unemployment rate shouldn't be jumping a

0:15:05.280 --> 0:15:07.400
<v Speaker 2>tenth of a percentage point or two tenths of a

0:15:07.400 --> 0:15:08.120
<v Speaker 2>percentage point.

0:15:08.360 --> 0:15:11.000
<v Speaker 1>It should be what it was two months ago or so.

0:15:11.880 --> 0:15:15.160
<v Speaker 2>Again, these numbers are, in my opinion, just are not

0:15:15.320 --> 0:15:19.840
<v Speaker 2>adding up market. Let me see jobless check a significant

0:15:19.880 --> 0:15:23.120
<v Speaker 2>cool down from the job seekers market that prevailed earlier

0:15:23.120 --> 0:15:23.880
<v Speaker 2>in the decade.

0:15:24.120 --> 0:15:24.920
<v Speaker 1>Long frustrate.

0:15:25.040 --> 0:15:28.080
<v Speaker 2>Now earlier in the decade, all right, we came out

0:15:28.080 --> 0:15:33.560
<v Speaker 2>of a pandemic when everybody, when businesses shut down, factories

0:15:33.560 --> 0:15:34.080
<v Speaker 2>shut down.

0:15:34.520 --> 0:15:36.400
<v Speaker 1>The only thing that stayed.

0:15:36.120 --> 0:15:42.720
<v Speaker 2>Open were hospitals and police officers, firefighters. Oh and by

0:15:42.760 --> 0:15:45.400
<v Speaker 2>the way, abortion clinics, but we won't get into that.

0:15:46.640 --> 0:15:50.880
<v Speaker 2>So these the other things were all shut down, and

0:15:50.960 --> 0:15:55.680
<v Speaker 2>so when everything opened up, then what you had is

0:15:55.760 --> 0:15:58.800
<v Speaker 2>more people pouring back into the job market that had

0:15:58.840 --> 0:16:01.920
<v Speaker 2>previously been on an employed. And of course the numbers

0:16:01.960 --> 0:16:04.800
<v Speaker 2>are going to look good at the beginning of the decade.

0:16:04.800 --> 0:16:07.960
<v Speaker 2>They're in twenty twenty one, the beginning of twenty twenty two.

0:16:08.520 --> 0:16:13.320
<v Speaker 2>But when you look at pre pandemic estimates or pre

0:16:13.480 --> 0:16:17.240
<v Speaker 2>plandemic numbers, the jobs that were added back during that

0:16:17.360 --> 0:16:20.400
<v Speaker 2>period of time did not match the number of jobs

0:16:20.520 --> 0:16:25.080
<v Speaker 2>that were lost that prior to them plandemic. And so

0:16:25.600 --> 0:16:29.080
<v Speaker 2>all this boasting from the previous administration about how many

0:16:29.200 --> 0:16:32.920
<v Speaker 2>jobs they created, Well, compare that number to the numbers

0:16:32.960 --> 0:16:36.440
<v Speaker 2>that were lost, and they still hadn't matched those numbers.

0:16:36.680 --> 0:16:39.760
<v Speaker 2>And to count that as a created job when it

0:16:39.880 --> 0:16:44.160
<v Speaker 2>is merely a job that is replacing or backfilling what

0:16:44.280 --> 0:16:48.400
<v Speaker 2>had been lost previously is not a gain. And the

0:16:48.440 --> 0:16:53.080
<v Speaker 2>employment range or the employment ranks. So it was a

0:16:53.120 --> 0:16:56.280
<v Speaker 2>false narrative that they kept cramming down our throats and

0:16:56.360 --> 0:17:01.320
<v Speaker 2>again talking about where the number of the numbers of

0:17:01.720 --> 0:17:04.680
<v Speaker 2>increases and the job increases that we saw at the

0:17:04.760 --> 0:17:07.280
<v Speaker 2>beginning of the decade, Well, hell, yes, you'd see a lot,

0:17:07.680 --> 0:17:11.359
<v Speaker 2>but you know, you shut everything down and you're at zero,

0:17:11.920 --> 0:17:15.200
<v Speaker 2>So anything up from that is going to look fantastic.

0:17:15.520 --> 0:17:17.240
<v Speaker 1>So anyway, significant cool.

0:17:17.080 --> 0:17:19.280
<v Speaker 2>Down from the job seekers market that prevailed earlier in

0:17:19.359 --> 0:17:24.000
<v Speaker 2>the decade long, frustrating job searchers, and headlines about large

0:17:24.040 --> 0:17:27.840
<v Speaker 2>scales corporate layoffs are coloring the views of the labor

0:17:27.880 --> 0:17:31.320
<v Speaker 2>market far harder to navigate than it was a couple.

0:17:31.040 --> 0:17:34.240
<v Speaker 1>Of years ago. Now, the headlines.

0:17:33.760 --> 0:17:40.240
<v Speaker 2>About large scale corporate layoffs, not actual layoffs, the headlines

0:17:40.400 --> 0:17:45.640
<v Speaker 2>talking about corporate layoffs that are in the future, possibly

0:17:45.840 --> 0:17:48.920
<v Speaker 2>six months, seven months down the road as they've been

0:17:48.920 --> 0:17:52.120
<v Speaker 2>talking about over the last few weeks. So with that,

0:17:52.520 --> 0:17:56.080
<v Speaker 2>if you're just looking at headlines again and they haven't

0:17:56.119 --> 0:17:59.679
<v Speaker 2>actually come to fruition, why is that depressing people be

0:17:59.800 --> 0:18:02.840
<v Speaker 2>caught of the headline again. As I've talked about how

0:18:02.880 --> 0:18:05.680
<v Speaker 2>people go through their phones, all they do is scan

0:18:05.800 --> 0:18:08.800
<v Speaker 2>the headlines. They don't bother reading the story that don't

0:18:08.800 --> 0:18:11.359
<v Speaker 2>get into the details of the story like we do

0:18:11.440 --> 0:18:13.040
<v Speaker 2>here on America's truck and Network.

0:18:13.200 --> 0:18:15.320
<v Speaker 1>In order to set that record straight.

0:18:15.400 --> 0:18:17.840
<v Speaker 2>And as long as that, as long as the spoon

0:18:17.880 --> 0:18:20.640
<v Speaker 2>fed regurgitators in the mainstream media are going to keep

0:18:20.640 --> 0:18:24.760
<v Speaker 2>those headlines up, worse and worse the sentiment, the consumer

0:18:24.840 --> 0:18:28.040
<v Speaker 2>sentiment is going to be. I'm Kevin Gordon, America's Trucking Network.

0:18:28.119 --> 0:18:43.520
<v Speaker 2>Seven hundred WLW, seven hundred WLW. I'm Kevin Gordon. This

0:18:43.680 --> 0:18:47.080
<v Speaker 2>is America's Trucking Network. America's truck and Network supports a

0:18:47.160 --> 0:18:50.119
<v Speaker 2>mission and REES across America. You can hear us every

0:18:50.240 --> 0:18:53.520
<v Speaker 2>truck and Tuesday at five am and ten am Eastern

0:18:53.760 --> 0:18:58.119
<v Speaker 2>on REES across America Radio, available on the iHeartRadio app.

0:18:58.400 --> 0:19:00.760
<v Speaker 1>Search the word rese now that's.

0:19:00.760 --> 0:19:06.000
<v Speaker 2>Wr EA ths for Reese Across America Radio, and thank

0:19:06.040 --> 0:19:08.960
<v Speaker 2>you to all our truckers for supporting the mission of

0:19:09.000 --> 0:19:12.399
<v Speaker 2>rees across America. By the way, again that date for

0:19:13.200 --> 0:19:16.359
<v Speaker 2>the laying of the res at the various cemeteries is

0:19:16.800 --> 0:19:19.960
<v Speaker 2>December the thirteenth. It is still not too late to

0:19:20.040 --> 0:19:24.800
<v Speaker 2>sponsor a wreath seventeen dollars mirror amount and that number

0:19:24.880 --> 0:19:27.320
<v Speaker 2>was the same as it was last year, so there's

0:19:27.359 --> 0:19:31.160
<v Speaker 2>no inflation there and a lot of these there's still

0:19:31.160 --> 0:19:33.600
<v Speaker 2>I think some open lanes that if you have some time,

0:19:33.880 --> 0:19:36.520
<v Speaker 2>if you can do maybe final mile or maybe a

0:19:36.560 --> 0:19:39.560
<v Speaker 2>little bit longer in terms of these trips, in terms

0:19:39.560 --> 0:19:42.359
<v Speaker 2>of picking up these reefs and getting them distributed across

0:19:42.440 --> 0:19:45.480
<v Speaker 2>the country, just check out Reese Across America.

0:19:45.520 --> 0:19:49.040
<v Speaker 1>I believe it's dot org and get on their website.

0:19:49.200 --> 0:19:52.160
<v Speaker 2>It's a great website, great amount of tools, a lot

0:19:52.200 --> 0:19:54.359
<v Speaker 2>of stuff having to do with all the stuff that

0:19:54.400 --> 0:19:57.520
<v Speaker 2>they do throughout the year. So it's a great organization.

0:19:57.800 --> 0:19:59.920
<v Speaker 2>Proud to be part of it, Proud to be part

0:20:00.240 --> 0:20:05.480
<v Speaker 2>of recent Across America Radio every truck and Tuesday, and

0:20:05.680 --> 0:20:07.960
<v Speaker 2>really appreciate that. By the way, if you miss any

0:20:07.960 --> 0:20:10.240
<v Speaker 2>part of our program or any of our previous shows,

0:20:10.440 --> 0:20:14.280
<v Speaker 2>hit up that iHeartRadio app and which has brought to

0:20:14.280 --> 0:20:16.280
<v Speaker 2>you by our friends at Rust Truck Centers, and we

0:20:16.320 --> 0:20:19.960
<v Speaker 2>certainly appreciate that. Again, getting back to this consumer sentiment

0:20:20.080 --> 0:20:23.720
<v Speaker 2>number and the facts in here, but I'm gonna just

0:20:23.760 --> 0:20:26.480
<v Speaker 2>read this headline, I under this, this this paragraph.

0:20:26.520 --> 0:20:27.560
<v Speaker 1>I'm not too fond of it.

0:20:27.640 --> 0:20:30.800
<v Speaker 2>But recent consumer surveys have portrayed a fault line in

0:20:30.880 --> 0:20:35.960
<v Speaker 2>America's sentiment. Those with large stock stark stock portfolios are

0:20:36.040 --> 0:20:39.960
<v Speaker 2>feeling more positive than people with fewer holdings because of

0:20:40.000 --> 0:20:43.920
<v Speaker 2>the roaring market has fueled significant gains for investors. Well,

0:20:44.000 --> 0:20:46.480
<v Speaker 2>there's an awful lot. There's a large percentage of the

0:20:46.520 --> 0:20:49.240
<v Speaker 2>people out there. I don't know off the top of

0:20:49.280 --> 0:20:51.520
<v Speaker 2>my head, I don't remember what the number is. But

0:20:51.600 --> 0:20:53.960
<v Speaker 2>if you have a four oh one k, or if

0:20:53.960 --> 0:20:58.880
<v Speaker 2>you're invested in your company's program in terms of either

0:20:58.960 --> 0:21:03.520
<v Speaker 2>pension or their participation in if you have the four

0:21:03.600 --> 0:21:06.280
<v Speaker 2>oh one k through work and then they max that

0:21:06.640 --> 0:21:11.040
<v Speaker 2>or equal that or whatever from the corporations, you're still

0:21:11.080 --> 0:21:14.200
<v Speaker 2>in the market. You're not seeing it on a regular basis.

0:21:14.200 --> 0:21:17.159
<v Speaker 2>You're seeing in your statements on a quarterly basis or

0:21:17.200 --> 0:21:20.920
<v Speaker 2>on a monthly basis. But again, you are still involved

0:21:21.000 --> 0:21:23.480
<v Speaker 2>in the stock market. Now some of the people that

0:21:23.520 --> 0:21:28.159
<v Speaker 2>are not involved in the stock market, well, you know, people, Again,

0:21:28.359 --> 0:21:34.280
<v Speaker 2>this doesn't change whether you're having fantastic economic times, middle

0:21:34.280 --> 0:21:38.359
<v Speaker 2>of the road economic times, or downturn. During the recession

0:21:38.520 --> 0:21:41.879
<v Speaker 2>back in or they call it the Great recession back

0:21:41.880 --> 0:21:44.440
<v Speaker 2>in two thousand and eight, two thousand and nine or so,

0:21:45.119 --> 0:21:48.200
<v Speaker 2>people were still making money. People with the right count

0:21:48.680 --> 0:21:52.440
<v Speaker 2>that had the wherewithal and that could wait things out

0:21:52.480 --> 0:21:56.000
<v Speaker 2>as far as the downturn in the market did very

0:21:56.040 --> 0:21:59.119
<v Speaker 2>well during that period of time. But again those that

0:21:59.200 --> 0:22:01.840
<v Speaker 2>weren't invested in and that didn't do so well. We

0:22:01.880 --> 0:22:04.239
<v Speaker 2>saw in the housing market. We talked about that on

0:22:04.280 --> 0:22:07.520
<v Speaker 2>this program, where in twenty two thousand and eight, two

0:22:07.560 --> 0:22:11.320
<v Speaker 2>thousand and nine, the housing market collapsed. We had a

0:22:11.720 --> 0:22:14.920
<v Speaker 2>kind of across the board reduction of about forty percent

0:22:15.040 --> 0:22:18.879
<v Speaker 2>in the value of homes, and so people found themselves underwater.

0:22:19.400 --> 0:22:23.040
<v Speaker 2>And as as we got through the recession, those numbers

0:22:23.080 --> 0:22:25.479
<v Speaker 2>came up back up. It took a little bit longer

0:22:25.520 --> 0:22:28.280
<v Speaker 2>than what it normally takes in a recession, but by

0:22:28.359 --> 0:22:31.760
<v Speaker 2>twenty twelve twenty fourteen, people were back to where they

0:22:31.800 --> 0:22:35.320
<v Speaker 2>were before the recession began, and so holding onto the

0:22:35.320 --> 0:22:38.239
<v Speaker 2>home if you have the people maintaining their jobs and

0:22:38.280 --> 0:22:41.200
<v Speaker 2>trying to go through some creative measures to hang onto

0:22:41.240 --> 0:22:44.040
<v Speaker 2>the house. Because there were some programs that were done

0:22:44.320 --> 0:22:46.240
<v Speaker 2>by the banks in order to try to keep people

0:22:46.240 --> 0:22:48.480
<v Speaker 2>in because they didn't want those homes dumped on them,

0:22:48.760 --> 0:22:52.000
<v Speaker 2>because if somebody wounds up, if they wound up wind

0:22:52.080 --> 0:22:55.439
<v Speaker 2>up for closing on homes and they can't sell those homes,

0:22:56.119 --> 0:22:58.639
<v Speaker 2>they're stuck with that home on their books. And so

0:22:59.240 --> 0:23:01.240
<v Speaker 2>there was a lot of leaf programs that were done

0:23:01.320 --> 0:23:04.680
<v Speaker 2>during that period of time. But again, you don't base

0:23:04.760 --> 0:23:08.320
<v Speaker 2>this on because you know, I've talked in terms before

0:23:08.520 --> 0:23:10.840
<v Speaker 2>of you know, in a lot of instances of what

0:23:10.920 --> 0:23:13.240
<v Speaker 2>we look at as far as what's going on in

0:23:13.280 --> 0:23:16.399
<v Speaker 2>the economy or the country or so on. Sometimes it

0:23:16.440 --> 0:23:21.720
<v Speaker 2>boils down to not only necessarily Republicans versus Democrats, Conservatives

0:23:21.800 --> 0:23:25.160
<v Speaker 2>versus liberals. It has to do with the affected class

0:23:25.280 --> 0:23:29.400
<v Speaker 2>versus the unaffected class. The liberals in Hollywood, the liberals

0:23:29.400 --> 0:23:33.639
<v Speaker 2>on the DNC side, they're not affected. If they're the

0:23:33.720 --> 0:23:36.720
<v Speaker 2>upper class, they're not affected by this. The rich people

0:23:36.720 --> 0:23:40.160
<v Speaker 2>on the right in the conservative side, they're not affected

0:23:40.200 --> 0:23:43.560
<v Speaker 2>by that, but we the affected class here in the middle,

0:23:43.880 --> 0:23:46.639
<v Speaker 2>we are affected by every one of these things. And

0:23:46.720 --> 0:23:49.679
<v Speaker 2>so it's a battle between the affected class and the

0:23:49.760 --> 0:23:53.439
<v Speaker 2>unaffected class. And that's being and they're playing this up

0:23:53.480 --> 0:23:56.439
<v Speaker 2>as if in this article, as if it's something new

0:23:56.560 --> 0:23:59.640
<v Speaker 2>that has never been there before. But even those good

0:23:59.640 --> 0:24:03.879
<v Speaker 2>feelings could face a test amid rough November on Wall

0:24:03.880 --> 0:24:07.000
<v Speaker 2>Street with the rise in the in the stock market,

0:24:07.280 --> 0:24:10.320
<v Speaker 2>the stock market over the last month. Now, remember back

0:24:10.359 --> 0:24:14.000
<v Speaker 2>on Liberation Day, back on April the second, the stock

0:24:14.080 --> 0:24:17.880
<v Speaker 2>market went down tremendously. It was more than a correction,

0:24:17.960 --> 0:24:19.680
<v Speaker 2>I think it was what it was at fifteen to

0:24:19.720 --> 0:24:24.080
<v Speaker 2>twenty percent down almost overnight, and then people that hung

0:24:24.080 --> 0:24:27.320
<v Speaker 2>in there did. Stock market over the last couple of

0:24:27.320 --> 0:24:31.520
<v Speaker 2>months have not only beat what it was prior to

0:24:31.960 --> 0:24:35.879
<v Speaker 2>April the second, but gone even higher. And on a weekly,

0:24:35.960 --> 0:24:38.679
<v Speaker 2>on a daily basis, for about three or four weeks

0:24:38.720 --> 0:24:42.840
<v Speaker 2>there every day was a record high, not a record

0:24:42.920 --> 0:24:45.600
<v Speaker 2>high for the week, not a record high for the month,

0:24:46.000 --> 0:24:49.119
<v Speaker 2>not a record high for the past six months, but

0:24:49.320 --> 0:24:53.560
<v Speaker 2>a record high ever in the stock market. So when

0:24:53.600 --> 0:24:56.400
<v Speaker 2>you have that rapid increase during that period of time,

0:24:56.760 --> 0:24:59.320
<v Speaker 2>at some point people are going to take some you know,

0:24:59.680 --> 0:25:04.880
<v Speaker 2>take winnings off the table cash in kind of take

0:25:04.920 --> 0:25:07.600
<v Speaker 2>their you know, take their earnings and take their wins

0:25:07.960 --> 0:25:10.280
<v Speaker 2>and then go back into the market later on. But

0:25:10.400 --> 0:25:15.720
<v Speaker 2>again that is where people where the market starts going down,

0:25:16.080 --> 0:25:18.880
<v Speaker 2>and what they talk about is we're not even near

0:25:19.040 --> 0:25:21.840
<v Speaker 2>what they talk in terms as far as a correction

0:25:22.320 --> 0:25:24.840
<v Speaker 2>in the market. It's gone down a little bit, but

0:25:24.920 --> 0:25:27.520
<v Speaker 2>it hasn't gone down to the point where it's actually

0:25:27.560 --> 0:25:31.439
<v Speaker 2>considered a correction. So any of this playing up that oh, well,

0:25:31.680 --> 0:25:34.840
<v Speaker 2>you know the stock market was down five percent and

0:25:34.960 --> 0:25:38.120
<v Speaker 2>recent you know, and so on, well, you know, until

0:25:38.119 --> 0:25:40.199
<v Speaker 2>it gets up to the ten fifteen percent, you're not

0:25:40.280 --> 0:25:43.920
<v Speaker 2>in the correction. Weaker employment picture prompted two interest rate

0:25:43.960 --> 0:25:46.600
<v Speaker 2>cuts from the Federal Reserve at the Central Banks meeting

0:25:46.760 --> 0:25:50.359
<v Speaker 2>in September October, but officials have appeared split on whether

0:25:50.359 --> 0:25:55.000
<v Speaker 2>they should hold rates steady in December. Although both challenges

0:25:55.119 --> 0:25:59.680
<v Speaker 2>are clearly weighing on consumers concerns about a long run inflation.

0:26:00.200 --> 0:26:04.480
<v Speaker 2>Long run inflation un lest at least hasn't been worsening,

0:26:04.800 --> 0:26:08.359
<v Speaker 2>according to the Michigan Survey, a reassuring sign for the

0:26:08.359 --> 0:26:12.840
<v Speaker 2>Fed because fears of persistent inflation are sometimes thought to

0:26:12.920 --> 0:26:17.400
<v Speaker 2>become self fulfilling. And again what I talked about earlier

0:26:17.680 --> 0:26:20.680
<v Speaker 2>is that we keep talking about inflation, keep talking about inflation.

0:26:21.080 --> 0:26:23.399
<v Speaker 2>People are going to people are going to be thinking

0:26:23.440 --> 0:26:26.160
<v Speaker 2>in terms of inflation, whether or not they're feeling it.

0:26:26.119 --> 0:26:28.119
<v Speaker 1>In their own home or not.

0:26:28.920 --> 0:26:32.479
<v Speaker 2>Long run inflation expectations fell to now get this, okay,

0:26:32.880 --> 0:26:39.320
<v Speaker 2>Long term expectations for inflation fell to three point four percent,

0:26:39.760 --> 0:26:44.040
<v Speaker 2>down from three point nine percent in October. So people

0:26:44.119 --> 0:26:47.840
<v Speaker 2>forecasting out thinking that inflation was going to be approaching

0:26:47.880 --> 0:26:51.480
<v Speaker 2>four percent are now back down to the three percent range.

0:26:51.560 --> 0:26:54.719
<v Speaker 2>So how can those people that feel that way have

0:26:54.840 --> 0:26:57.480
<v Speaker 2>a bad sentiment as far as the economy is concerned.

0:26:57.800 --> 0:27:00.320
<v Speaker 2>Like I said, a lot of these numbers and the

0:27:00.320 --> 0:27:03.480
<v Speaker 2>way they're displaying them just don't add up, And it

0:27:03.600 --> 0:27:06.439
<v Speaker 2>almost seems like you've got a jackal in a hyde

0:27:06.520 --> 0:27:11.120
<v Speaker 2>economy out there, where the media is talking it down,

0:27:11.400 --> 0:27:14.879
<v Speaker 2>but that people are being resilient and working through it. Now,

0:27:15.200 --> 0:27:18.240
<v Speaker 2>coming up, we're going to be talking about the job's numbers,

0:27:18.280 --> 0:27:22.439
<v Speaker 2>because those came in pretty hot last week and a

0:27:22.480 --> 0:27:24.879
<v Speaker 2>lot of good information there, and we'll get to that

0:27:24.960 --> 0:27:28.480
<v Speaker 2>coming up. I'm Kevin Gordon America's struck A network. Seven

0:27:28.560 --> 0:27:35.399
<v Speaker 2>hundred WLW seven hundred WLW. I'm Kevin Gordon. This is

0:27:35.400 --> 0:27:38.080
<v Speaker 2>America's struck A network. I mentioned in the previous segment

0:27:38.160 --> 0:27:41.040
<v Speaker 2>that the job numbers came in last week. Non farm

0:27:41.080 --> 0:27:44.680
<v Speaker 2>payroll one hundred and nineteen thousand added, a jobless rate

0:27:44.760 --> 0:27:46.960
<v Speaker 2>goes up to four point four. Like I said, the

0:27:47.080 --> 0:27:49.800
<v Speaker 2>numbers don't add up. As far as I'm concerned, US

0:27:49.840 --> 0:27:54.640
<v Speaker 2>economy added substantially more jobs than expected in September. According

0:27:54.680 --> 0:27:57.600
<v Speaker 2>to the long awaited report Thursday from the Bureau of

0:27:57.680 --> 0:28:01.960
<v Speaker 2>Labor Statistics, non farm payroll increased by one hundred and

0:28:02.080 --> 0:28:05.880
<v Speaker 2>nineteen thousand in a month, up from the four thousand

0:28:06.160 --> 0:28:10.679
<v Speaker 2>jobs lost in August. So that's a swing of one

0:28:10.720 --> 0:28:14.360
<v Speaker 2>hundred and twenty three thousand jobs Following a downward revision.

0:28:14.720 --> 0:28:19.959
<v Speaker 2>The Dow Jones consensus estimate for September was fifty thousand,

0:28:20.480 --> 0:28:26.800
<v Speaker 2>so the economists were expecting for September only fifty thousand increase.

0:28:27.240 --> 0:28:30.359
<v Speaker 2>It came in at one hundred and nineteen thousand, so

0:28:30.560 --> 0:28:34.680
<v Speaker 2>their estimates were off, and their expectations were off by

0:28:34.720 --> 0:28:38.400
<v Speaker 2>one hundred and thirty eight percent. The July total was

0:28:38.440 --> 0:28:41.719
<v Speaker 2>also revised down to seventy two thousand, a decrease of

0:28:41.800 --> 0:28:45.320
<v Speaker 2>seven thousand from the prior release. In addition to the

0:28:45.360 --> 0:28:48.800
<v Speaker 2>headline's job numbers that we talked about before BLS, the

0:28:48.880 --> 0:28:53.400
<v Speaker 2>unemployment rage rate edged up higher to four point four percent,

0:28:53.880 --> 0:28:56.920
<v Speaker 2>the highest it's been since October of twenty twenty one.

0:28:57.480 --> 0:29:01.120
<v Speaker 2>A broader measure that includes the those not looking for

0:29:01.240 --> 0:29:06.480
<v Speaker 2>jobs or working part time for economic reasons edged lower

0:29:06.880 --> 0:29:11.840
<v Speaker 2>to eight percent. Now they don't say edge lower from what,

0:29:12.480 --> 0:29:15.200
<v Speaker 2>But I did look it up, and I saw a

0:29:15.280 --> 0:29:18.520
<v Speaker 2>number that was like eight point four or eight point

0:29:18.640 --> 0:29:22.440
<v Speaker 2>one that I couldn't get nailed that down. But still,

0:29:22.600 --> 0:29:26.560
<v Speaker 2>if the number of people that are considered unemployed and

0:29:26.640 --> 0:29:31.280
<v Speaker 2>have stopped working part of the labor participation rate is up,

0:29:31.600 --> 0:29:34.720
<v Speaker 2>then you would expect to see unemployment numbers go up.

0:29:35.000 --> 0:29:38.680
<v Speaker 2>If that number comes down, why is the unemployment number

0:29:38.800 --> 0:29:40.720
<v Speaker 2>going up again?

0:29:40.920 --> 0:29:43.040
<v Speaker 1>These things just don't make any sense to me.

0:29:43.400 --> 0:29:46.920
<v Speaker 2>Average hourly earnings increase point two percent for the month

0:29:47.400 --> 0:29:50.600
<v Speaker 2>and three point eight percent from a year ago, compared

0:29:50.600 --> 0:29:54.040
<v Speaker 2>to a respective forecast of three percent three point eight

0:29:54.240 --> 0:29:56.800
<v Speaker 2>So the forecasts were lower than what it actually came

0:29:56.800 --> 0:30:02.080
<v Speaker 2>in at report ends the data drought the labor market

0:30:02.440 --> 0:30:05.920
<v Speaker 2>that began in early September and continued through the record one,

0:30:06.560 --> 0:30:11.280
<v Speaker 2>record forty four day government shutdown, and who caused that

0:30:11.280 --> 0:30:14.840
<v Speaker 2>that was caused by the Democrats. The Schumer's shutdown agencies,

0:30:14.880 --> 0:30:18.760
<v Speaker 2>including the BLS and Bureau of Economic Analysis and others,

0:30:18.960 --> 0:30:23.040
<v Speaker 2>were prohibited from collecting or releasing data during the period.

0:30:24.280 --> 0:30:27.200
<v Speaker 2>This was the first report since the beginning of August thereabouts.

0:30:28.240 --> 0:30:34.040
<v Speaker 2>Daniel Zou, chief economists at job site Glass Doors, said,

0:30:34.400 --> 0:30:38.960
<v Speaker 2>September's jobs report shows the labor market still had resilience

0:30:39.280 --> 0:30:44.800
<v Speaker 2>before the shutdown, beating payroll expectations, but the picture remains muddy,

0:30:45.040 --> 0:30:49.200
<v Speaker 2>with August jobs revised to a job loss and unemployment

0:30:49.280 --> 0:30:53.800
<v Speaker 2>rate increasing again. Why is the rate increasing if the

0:30:53.920 --> 0:30:58.560
<v Speaker 2>jobs are creating are going up and the overall including

0:30:58.600 --> 0:31:01.720
<v Speaker 2>people who have stoppler looking for work, has come down.

0:31:02.320 --> 0:31:06.040
<v Speaker 2>Stock market futures nevertheless added to gains following the report.

0:31:06.840 --> 0:31:09.760
<v Speaker 2>Traders also continue to bet that the Federal Reserve will

0:31:09.800 --> 0:31:13.440
<v Speaker 2>not lower interest rates further at its December the ninth

0:31:13.600 --> 0:31:16.960
<v Speaker 2>and tenth meeting ninth through the tenth meeting, So that's

0:31:17.040 --> 0:31:19.800
<v Speaker 2>mudding the waters as far as that's concerned, and again

0:31:20.160 --> 0:31:23.680
<v Speaker 2>probably playing on as far as consumer sentiment is concerned.

0:31:24.200 --> 0:31:27.840
<v Speaker 2>Despite the fact that today jobs report is very backward looking.

0:31:28.040 --> 0:31:32.400
<v Speaker 2>This is a quote from Sema Shaw, she is chief

0:31:32.680 --> 0:31:37.200
<v Speaker 2>Global Strategist at Principal Asset Management. Despite the fact that

0:31:37.240 --> 0:31:41.400
<v Speaker 2>today's report is very backward looking, well what else would

0:31:41.480 --> 0:31:44.480
<v Speaker 2>it be if the jobs that were created? You have

0:31:44.600 --> 0:31:47.120
<v Speaker 2>to find out what those jobs are, and before you

0:31:47.240 --> 0:31:51.240
<v Speaker 2>report them. You can't forecast ahead and say, well, gee wiz,

0:31:51.280 --> 0:31:53.360
<v Speaker 2>let me get out my crystal ball and let me

0:31:53.400 --> 0:31:56.800
<v Speaker 2>see forward thinking in terms of what the job market

0:31:56.880 --> 0:31:58.680
<v Speaker 2>is going to be. Shoot, if you could do that,

0:31:59.360 --> 0:32:01.920
<v Speaker 2>you should, you know, do that crystal ball.

0:32:01.760 --> 0:32:03.000
<v Speaker 1>To find lottery numbers.

0:32:03.480 --> 0:32:06.600
<v Speaker 2>Equities like the fact that the payrolls were stronger than expected,

0:32:06.640 --> 0:32:10.680
<v Speaker 2>suggesting the economy is still on firm footing, while the

0:32:10.720 --> 0:32:14.600
<v Speaker 2>bond market likes the rise in unemployment slow down so on. Overall,

0:32:14.600 --> 0:32:17.320
<v Speaker 2>the report shows that the labor market entered the autumn

0:32:17.360 --> 0:32:19.800
<v Speaker 2>months on much the same footing and has it been

0:32:19.840 --> 0:32:23.520
<v Speaker 2>all year long, slow but steady pace. People are not

0:32:23.640 --> 0:32:26.760
<v Speaker 2>getting laid off, and people are not businesses are not

0:32:26.920 --> 0:32:30.040
<v Speaker 2>laying off, and they're not hiring. Separate Labor Department release

0:32:30.080 --> 0:32:33.600
<v Speaker 2>on Thursday showed that the initial jobless claims. Talking about

0:32:33.680 --> 0:32:37.320
<v Speaker 2>those unemployment numbers have come down that way. On the downside,

0:32:37.360 --> 0:32:42.160
<v Speaker 2>transpency jobs were added in healthcare forty three thousand. Bars

0:32:42.160 --> 0:32:45.880
<v Speaker 2>and restaurants contributed thirty seven thousand. Those are in the

0:32:45.920 --> 0:32:48.920
<v Speaker 2>service industries, So if those are up, people are out.

0:32:49.040 --> 0:32:51.520
<v Speaker 2>They're not hiring people in that area, or they're not

0:32:51.680 --> 0:32:55.520
<v Speaker 2>increasing their staff if the business isn't there. So apparently

0:32:55.560 --> 0:32:58.479
<v Speaker 2>people are out spending money at bars and restaurants and

0:32:58.520 --> 0:33:02.280
<v Speaker 2>they need the staff to fulfill that. Transportation and warehousing

0:33:02.320 --> 0:33:05.720
<v Speaker 2>lost twenty five thousand jobs, part of the loss of

0:33:05.840 --> 0:33:10.120
<v Speaker 2>ninety seven on the calendar year. Professional business services also

0:33:10.200 --> 0:33:13.240
<v Speaker 2>reported to decline, the twenty thousand fueled by the drop

0:33:13.280 --> 0:33:17.120
<v Speaker 2>of sixteen thousand and temporary help. Now they do report

0:33:17.200 --> 0:33:20.520
<v Speaker 2>later on that the number of people working part time,

0:33:20.800 --> 0:33:23.120
<v Speaker 2>and see that again, this is one of those numbers

0:33:23.160 --> 0:33:26.680
<v Speaker 2>that don't add up. Rolls for full employment swelled by

0:33:26.720 --> 0:33:30.440
<v Speaker 2>six hundred and seventy three thousand, while part timers fell

0:33:30.640 --> 0:33:33.960
<v Speaker 2>by five hundred and seventy three. Now was that sixteen

0:33:34.040 --> 0:33:37.959
<v Speaker 2>thousand the temporary help lost? Did they become full time?

0:33:38.160 --> 0:33:41.280
<v Speaker 2>They don't explain in here. Total level of those employed

0:33:41.360 --> 0:33:44.200
<v Speaker 2>rose by two hundred and fifty one thousand, while the

0:33:44.280 --> 0:33:47.840
<v Speaker 2>labor force increased by four hundred and seventy thousand to

0:33:48.000 --> 0:33:53.040
<v Speaker 2>a fresh record of one hundred and seventy one million

0:33:53.080 --> 0:33:57.160
<v Speaker 2>people working. That is a record number of people working.

0:33:57.280 --> 0:34:00.080
<v Speaker 2>The participation rate, which measures the share of the working

0:34:00.120 --> 0:34:05.400
<v Speaker 2>age population either working or seeking employment, edged higher to

0:34:05.600 --> 0:34:09.799
<v Speaker 2>sixty two point four percent, the highest since May. So,

0:34:10.040 --> 0:34:12.719
<v Speaker 2>like I said, these numbers are not adding up. If

0:34:12.760 --> 0:34:15.919
<v Speaker 2>they're talking about unemployment going up, then why are job

0:34:16.000 --> 0:34:18.800
<v Speaker 2>seekers the number of people added to the labor force

0:34:19.040 --> 0:34:22.520
<v Speaker 2>going up, and a record number of people participating in

0:34:22.560 --> 0:34:23.320
<v Speaker 2>the job market.

0:34:23.840 --> 0:34:26.520
<v Speaker 1>I just don't understand it. Now.

0:34:27.000 --> 0:34:28.719
<v Speaker 2>One of the things that I want to get to

0:34:28.880 --> 0:34:31.080
<v Speaker 2>here real quick is some of the comments that were

0:34:31.080 --> 0:34:34.360
<v Speaker 2>made in terms of what oil prices are doing. Because

0:34:34.440 --> 0:34:38.880
<v Speaker 2>oil prices currently West Texas Intermediate crude is at fifty

0:34:38.920 --> 0:34:42.000
<v Speaker 2>eight dollars and eighty one cents a barrel. That's seventy

0:34:42.000 --> 0:34:46.480
<v Speaker 2>five cents from Friday, But just since January the twentieth,

0:34:46.680 --> 0:34:50.080
<v Speaker 2>it's down eighteen dollars and eight cents. That's a twenty

0:34:50.120 --> 0:34:55.080
<v Speaker 2>four percent decrease since January. Brent crude down is at

0:34:55.120 --> 0:34:59.400
<v Speaker 2>sixty three thirty four, up about a buck from Friday,

0:35:00.360 --> 0:35:04.320
<v Speaker 2>but since January is down sixteen dollars and fifty six cents,

0:35:04.520 --> 0:35:09.080
<v Speaker 2>that is a twenty one percent decrease, So again those

0:35:09.120 --> 0:35:12.600
<v Speaker 2>prices are coming down there now looking at what's going

0:35:12.600 --> 0:35:16.640
<v Speaker 2>on in the oil markets. The headline was and when

0:35:16.680 --> 0:35:19.319
<v Speaker 2>you print it off, it talks about interest rates, but

0:35:19.400 --> 0:35:23.120
<v Speaker 2>the headline on the website was oil prices edge higher

0:35:23.520 --> 0:35:29.360
<v Speaker 2>as US interest rates and Ukraine peace talks jostle for attention.

0:35:30.000 --> 0:35:32.320
<v Speaker 1>Now, one of the things that popped out on.

0:35:32.200 --> 0:35:36.319
<v Speaker 2>This report is they talk about what is going on

0:35:36.440 --> 0:35:40.120
<v Speaker 2>in terms of Russia, whether or not they're going to

0:35:40.200 --> 0:35:42.600
<v Speaker 2>reach some sort of an agreement, whether there's going to

0:35:42.640 --> 0:35:46.000
<v Speaker 2>be this peace dividend, or whether or not the price

0:35:46.080 --> 0:35:49.480
<v Speaker 2>is going to go up, whether Russian oil companies, if

0:35:49.520 --> 0:35:52.200
<v Speaker 2>the sanctions are going to be lifted off there, and

0:35:52.239 --> 0:35:54.319
<v Speaker 2>whether or not oil is going to be flowing into

0:35:54.320 --> 0:35:58.240
<v Speaker 2>the market and so on. They talked about how the

0:35:58.280 --> 0:36:01.279
<v Speaker 2>Federal Reserve is kicking around the idea there are a

0:36:01.360 --> 0:36:03.680
<v Speaker 2>lot of members of the Federal Reserve that are talking

0:36:03.719 --> 0:36:08.240
<v Speaker 2>about wanting to decrease interest rates. In their meeting onto

0:36:08.280 --> 0:36:10.600
<v Speaker 2>some of the sixth through the seventh I think that

0:36:10.719 --> 0:36:13.840
<v Speaker 2>number was, but then there are some that are holding

0:36:13.880 --> 0:36:17.279
<v Speaker 2>out and saying that they should be remaining the same fat.

0:36:17.360 --> 0:36:20.720
<v Speaker 2>Governor Christopher Waller sat on Monday that the available data

0:36:21.080 --> 0:36:24.360
<v Speaker 2>indicates the US job market remains weak enough to warrant

0:36:24.440 --> 0:36:28.840
<v Speaker 2>another quarter point cut, though action beyond that will depend

0:36:28.880 --> 0:36:31.160
<v Speaker 2>on the flood of data and so on from the

0:36:31.760 --> 0:36:33.040
<v Speaker 2>growth of labor statistics.

0:36:33.160 --> 0:36:34.440
<v Speaker 1>Hit this line in here.

0:36:35.080 --> 0:36:40.600
<v Speaker 2>Lower interest rates could boost economic growth and oil demand

0:36:40.920 --> 0:36:44.960
<v Speaker 2>by reducing borrowing costs for consumers and businesses.

0:36:45.480 --> 0:36:47.239
<v Speaker 1>What have I been saying on this.

0:36:47.239 --> 0:36:51.680
<v Speaker 2>Program, on and on and on about our interest rates

0:36:51.719 --> 0:36:55.520
<v Speaker 2>being higher than they are in Europe, in Canada, across

0:36:55.800 --> 0:37:00.080
<v Speaker 2>some of the developed countries, and Lion Jerry Powell keeping

0:37:00.120 --> 0:37:04.680
<v Speaker 2>our interest rates high, artificially high, in my opinion, that

0:37:04.840 --> 0:37:08.760
<v Speaker 2>is stifling the economy. Let me repeat that last sentence.

0:37:09.360 --> 0:37:14.240
<v Speaker 2>Lower interest rates could boost economic growth and oil demand

0:37:14.520 --> 0:37:20.040
<v Speaker 2>by reducing borrowing costs for consumers and businesses. So, when

0:37:20.320 --> 0:37:24.160
<v Speaker 2>you have more money in your pocket because you're not

0:37:24.320 --> 0:37:28.080
<v Speaker 2>paying sky high interest rates, that makes the house that

0:37:28.120 --> 0:37:31.319
<v Speaker 2>you're in more affordable, or the house you would like

0:37:31.400 --> 0:37:35.440
<v Speaker 2>to attain become more affordable. You get more bang for

0:37:35.520 --> 0:37:38.880
<v Speaker 2>your buck. In terms of where your salary is versus

0:37:38.960 --> 0:37:41.360
<v Speaker 2>the size house you can buy or the price of

0:37:41.400 --> 0:37:45.080
<v Speaker 2>the house you can buy, and it reduces your monthly payment.

0:37:45.440 --> 0:37:48.480
<v Speaker 2>And so if your monthly payment is down, there's more

0:37:48.520 --> 0:37:51.440
<v Speaker 2>money in your pocket. You have more money to spend

0:37:51.440 --> 0:37:55.200
<v Speaker 2>on discretionary things, which then means that you're out about

0:37:55.520 --> 0:38:00.960
<v Speaker 2>possibly buying more stuff at a store, whether a retail

0:38:01.080 --> 0:38:04.200
<v Speaker 2>chain or whether it's at food and restaurant. We saw

0:38:04.239 --> 0:38:07.719
<v Speaker 2>the job numbers where increases in the restaurant and bar

0:38:08.120 --> 0:38:13.040
<v Speaker 2>staffs are up. So again, when they're talking about interest

0:38:13.080 --> 0:38:18.120
<v Speaker 2>rate decreases stimulate the economy. If the Federal Reserve they

0:38:18.160 --> 0:38:21.600
<v Speaker 2>say that their intention or that their mission is to

0:38:21.719 --> 0:38:25.360
<v Speaker 2>keep inflation low and to keep the job market strong.

0:38:26.000 --> 0:38:30.160
<v Speaker 2>The job market has been strong. The number of the

0:38:30.200 --> 0:38:34.080
<v Speaker 2>amount of inflation is holding steady. It's a at the

0:38:34.239 --> 0:38:37.120
<v Speaker 2>level that it's been for the last well a couple

0:38:37.160 --> 0:38:40.759
<v Speaker 2>of years, basically well with lower than what it was

0:38:41.000 --> 0:38:43.720
<v Speaker 2>during the Biden years in twenty twenty two and twenty

0:38:43.840 --> 0:38:46.880
<v Speaker 2>twenty three, but as far as twenty twenty four. Towards

0:38:46.920 --> 0:38:49.359
<v Speaker 2>the end of twenty twenty four and then into this year,

0:38:49.600 --> 0:38:52.600
<v Speaker 2>it's been relatively the same somewhere around the two point

0:38:52.719 --> 0:38:56.360
<v Speaker 2>seven to three percent range, so it's not drastically going

0:38:56.440 --> 0:38:59.440
<v Speaker 2>up and the Fed wanting that interest rate or that

0:38:59.560 --> 0:39:03.080
<v Speaker 2>inflation rate down round two percent. It hasn't been around

0:39:03.080 --> 0:39:07.439
<v Speaker 2>two percent since the previous Trump administration at two point one,

0:39:07.920 --> 0:39:11.680
<v Speaker 2>so given what the economy does during the Trump administration,

0:39:11.960 --> 0:39:14.440
<v Speaker 2>we should see that coming down and at least they

0:39:14.480 --> 0:39:16.920
<v Speaker 2>have the track record of that and can adjust that

0:39:17.040 --> 0:39:21.440
<v Speaker 2>interest rate down, which, as they say, will spur the economy. Well, folks,

0:39:21.440 --> 0:39:23.680
<v Speaker 2>that does it for us. Stay tuned for Redie Radio

0:39:23.680 --> 0:39:27.200
<v Speaker 2>at top the hour. I'm Kevin Gordon, America's Trucking Network

0:39:27.520 --> 0:39:29.680
<v Speaker 2>seven hundred WLW