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Speaker 1: This is America's Trucking Network with Kevin Gordon.

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Speaker 2: Welcomeable, thanks for tuning in on this Wednesday morning. Coming

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Speaker 2: up in the second segment, we're going to be speaking

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Speaker 2: with Phil Flynn, senior account executive the Price Futures Group,

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Speaker 2: author of the Energy Report and contribute to Fox Businesses

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Speaker 2: and a good friend of the show and a good

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Speaker 2: friend of mine here on America's struck A Network, So

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Speaker 2: looking forward to talking to him coming up. But first,

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Speaker 2: last week we had the US weekly jobless claims and

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Speaker 2: again because of the government shut down, this is coming

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Speaker 2: from groups and other companies other than the Bureau of

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Speaker 2: Labor Statistics, a number of Americans filing new applications for

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Speaker 2: unemployment benefits eased slightly last week. Haver Analytics estimated on Thursday,

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Speaker 2: pointing to stable labor market conditions. Stable labor market conditions

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Speaker 2: despite all the crap that we're hearing in the spoon

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Speaker 2: fed regurgitators in the mainstream media, lion Jerry Powell and

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Speaker 2: the Fed talking about weakness and the job market and

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Speaker 2: so on. The stable job market is the key here

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Speaker 2: that could provide the Federal reserve cover to keep interest

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Speaker 2: rates unchanged next month. If they care about the economy,

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Speaker 2: which of course they don't. You would think that lion

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Speaker 2: Jerry Powell, based on some of the information we're going

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Speaker 2: to have coming up in other stories, would be interested

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Speaker 2: in lowing the interest rates to spark the economy, to

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Speaker 2: keep the economy going. But I believe that Jerry Powell

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Speaker 2: has a political motive. It is not independent as everybody

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Speaker 2: claims that it is. I think he's got a grudge

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Speaker 2: against Trump. Maybe he is in over his head, maybe

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Speaker 2: he's not as bright as everybody thought he was. But

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Speaker 2: he certainly is not the right person for this particular job.

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Speaker 2: Longest government shut down in his street ended on Wednesday night,

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Speaker 2: and the Labor Department is likely to resume publication of

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Speaker 2: the job as Claims Report next Thursday, which is coming up.

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Speaker 2: The forty three days shut down halted collection, processing, and

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Speaker 2: publishing of official economic data, yet States kept collecting the

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Speaker 2: claims data, which here analytics and Wall Street economists have extrapolated.

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Speaker 2: Now over the last several weeks, we've had JP Morgan Chase,

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Speaker 2: We've had City Group, we've had Nationwide, and we've had

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Speaker 2: Goldman Sachs reporting on these, and Analytics has.

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Speaker 3: Come along and also done the same.

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Speaker 2: So we've got these reports, these unemployment numbers are being

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Speaker 2: loaded into the federal system which is available to everybody

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Speaker 2: or to these companies, and so they have been going

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Speaker 2: into that database extrapolating the data, any of the data

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Speaker 2: that's missing, like in this particular case, claims data were

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Speaker 2: unavailed for Massachusetts and the assumptions were made similar to

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Speaker 2: the Labor Department's practices.

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Speaker 3: So they've been doing.

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Speaker 2: This as opposed to the Bureau of Labor Statistics, and

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Speaker 2: I would wonder why, and maybe this is an opportunity

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Speaker 2: that if this data is being uploaded into a system

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Speaker 2: that is overseen by the federal government, we don't need

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Speaker 2: to have those bureaucrats crunch those numbers and come up

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Speaker 2: with the report. These companies like Hare Analytics, JP, Morgan Chase,

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Speaker 2: Goldman Sachs can do the same, and it would be

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Speaker 2: interesting to see their comparisons and to see what they

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Speaker 2: come up with based on the data and the information

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Speaker 2: available to make sure that Okay, when you've got competition,

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Speaker 2: when you've got information coming out, if there's competition for that,

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Speaker 2: it sharpens everybody's tools and they want to be the

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Speaker 2: accurate one. They want to be the one that everybody

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Speaker 2: relies on, and so it might add a little bit

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Speaker 2: of competition and be a little bit better too, for

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Speaker 2: these other companies to handle rather than The Bureau of

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Speaker 2: Labor Statistics initial claims for state unemployment benefits to dip

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Speaker 2: to a seasonally adjusted two hundred and twenty seven thousand

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Speaker 2: for the weekending November the eighth, down from two hundred

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Speaker 2: and twenty eight thousand almost two hundred and twenty nine

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Speaker 2: thousand the previous week. So again, we're talking about a

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Speaker 2: stable labor market. We're talking about a market that has

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Speaker 2: been fluctuating or has it been working within. The unemployment

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Speaker 2: rate has been running anywhere between the two hundred and

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Speaker 2: ten thousand and two hundred and fifty thousand range that

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Speaker 2: has been over the last several months and up to

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Speaker 2: a couple of years even, and so as long as

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Speaker 2: that number was in with that is within that range,

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Speaker 2: that should indicate that, yes, there is a strong labor

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Speaker 2: market out there. There's been a lot of talk about

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Speaker 2: the fact that we are in a no hire, no

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Speaker 2: fire situation, and that is pretty much held true. Even

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Speaker 2: though we've seen some of these announcements that have come

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Speaker 2: out of potential layoffs.

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Speaker 4: What is it?

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Speaker 2: Challenger Gray and Christmas a couple of weeks ago put

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Speaker 2: out a report that said, oh, there were going to

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Speaker 2: be these massive layoffs. Well, those may be in the offings,

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Speaker 2: but they're not current, and they may be into the

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Speaker 2: future and layered in a little bit here, a little

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Speaker 2: bit there, and a little bit over time, so that

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Speaker 2: unemployment rate won't be affected by that and the market

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Speaker 2: will stay stable.

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Speaker 3: The initial job is.

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Speaker 2: Claims, let me see a beal Reinhardt is an economists

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Speaker 2: with JP Morgan, and initial claims remain pretty similar to

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Speaker 2: recent years around this time and don't give the sense

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Speaker 2: of any alarming rise in layoffs, especially when you consider

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Speaker 2: that they may have been lifted slightly by the government shutdown,

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Speaker 2: which was starting to become more disruptive this month. Labor

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Speaker 2: market remains in a holding pattern. Some privates that will

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Speaker 2: get this. Some private sector reports have implied the labor

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Speaker 2: market was deteriorating. One must have cautioned that these reports

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Speaker 2: had had a poor track record of accuracy and suggested

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Speaker 2: instead focusing on weekly jobless claims. While the government is

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Speaker 2: expected to publish September's delayed unemployment report next week, and

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Speaker 2: this story was from last week, so that will be

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Speaker 2: reported next week. It could be months before the clear

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Speaker 2: view of the labor market emerges. Why why should it

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Speaker 2: take it could be months before the clear view of

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Speaker 2: the labor market emerges. We've got the data from the

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Speaker 2: first moment. We've got from January. If you're talking about

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Speaker 2: the current calendar year, you've got January all the way

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Speaker 2: up now through November. And when the Jobless Reports initial

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Speaker 2: jobless claims comes out at the end of this week

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Speaker 2: on Thursday, we'll have that. So where is this disruption?

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Speaker 2: Where is this We won't know what the labor market is.

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Speaker 2: We know what the labor market has been for the

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Speaker 2: last eleven plus months, and we know what it was

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Speaker 2: the year before, and we pretty much know what it's

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Speaker 2: going to be like in the future given on what

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Speaker 2: we're seeing as far as the economic trends. Now, if

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Speaker 2: we could just get line Jerry Powell and the Fed

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Speaker 2: to cut interest rates where they should be, we'd be

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Speaker 2: in good shape and people could go out and invest,

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Speaker 2: and people could build, expand their businesses and so on.

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Speaker 3: Let's see here.

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Speaker 2: Stephen Stanley, Chief US Economists that as Santandar Santandert Santander

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Speaker 2: US capital markets. Not much has changed over the past

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Speaker 2: six weeks. While this is not great news in the

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Speaker 2: labor market was tap it at best bet the shutdown,

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Speaker 2: it should help to allay the worst fears of policymakers

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Speaker 2: and financial market participants alike, citing inflation worries and indication

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Speaker 2: of relative labor market stability. More FED policy makers have

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Speaker 2: signaled patients on further easing bs lower interest rates stimulate

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Speaker 2: the economy. They mentioned that every time I pick up

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Speaker 2: a report, or every time I look at the oil

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Speaker 2: prices for the day and look at what they're fluctuating,

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Speaker 2: and so on, every almost every day, there's something in

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Speaker 2: there that talks about, well, you know, looking at anticipation

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Speaker 2: what the Federal Reserve may do next month or next

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Speaker 2: week or whenever.

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Speaker 3: The Federal Reserve is supposed to be.

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Speaker 2: There's a line in there that says lower interest rates

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Speaker 2: lead leads to more consumption and boost to the economy.

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Speaker 2: Aren't we interested in boosting the economy. Yes, we're concerned

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Speaker 2: about inflation. But as I've been pointing out on this

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Speaker 2: program for the last several weeks, when you look at

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Speaker 2: the again going back to where the cost of living

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Speaker 2: allowance that has been added to the Social Security checks

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Speaker 2: over the last several years, decades even, and that number

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Speaker 2: this year is a two point eight percent. And you

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Speaker 2: look at that increase over the last several years, it's

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Speaker 2: been around two point six two point seven, which tells

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Speaker 2: you that the inflation rate, because it's tied to the

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Speaker 2: inflation rate in the third quarter, that inflation has been

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Speaker 2: around two point eight two point nine over the last

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Speaker 2: several years. And the fact that our inflation rate right

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Speaker 2: now is somewhere in the two point seven two point

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Speaker 2: six range, because depending on what report you look at,

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Speaker 2: we are heading in the right direction. I think it

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Speaker 2: is is stupid on the federal reserves part to be

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Speaker 2: targeting two percent when the historic average has been above

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Speaker 2: two point five percent on a yearly basis. I mean,

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Speaker 2: what are they expecting from the Trump administration miracles? Well,

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Speaker 2: we've gotten several miracles from them, you know, eight wars

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Speaker 2: stopped and so on. Coming up, We've got Phil Flynn

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Speaker 2: coming up, so looking forward to speaking with him. I'm

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Speaker 2: Kevin Gordon, America's Trucking Network seven hundred WLW.

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Speaker 1: This is the Racing Report on America's Trucking Network on

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Speaker 1: seven hundred WLW.

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Speaker 5: Long considered drag racing's goat the greatest of all time,

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Speaker 5: John Forest announced this reti Wireman after a record setting career.

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Speaker 3: It's time for me to retire.

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Speaker 6: And it all made sense to me, even though I

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Speaker 6: knew I had medical stuff that I had to address

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Speaker 6: that do I want to get back in the car

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Speaker 6: and get it in the head and I don't. I've

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Speaker 6: got new grand children coming with Courtney. She just had

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Speaker 6: a little girl, and she's got two girls already, Harlan

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Speaker 6: and Tinley, and.

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Speaker 3: We have Autumn. Of course, we have Jacob and Noah.

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Speaker 6: So I got a next generation that'll follow me just

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Speaker 6: like my girls.

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Speaker 5: Force has said NHRA records for season championships with sixteen

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Speaker 5: an event wins with one hundred and fifty seven that

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Speaker 5: will never likely be broken. He launched his career in

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Speaker 5: the early nineteen seventies and hand me down cars, his

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Speaker 5: first NHRI victory coming in Quebec, Canada in nineteen eighty seven.

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Speaker 5: Force won nine of ten World Championships in the nineteen

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Speaker 5: nineties and won a record thirteen of nineteen races, appearing

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Speaker 5: in a record sixteen final rounds in nineteen ninety eight.

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Speaker 5: Here's one of his daughter's Britney Force.

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Speaker 4: His energy comes from where his heart's at, and it's

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Speaker 4: in this sport. It's being out here at the racetrack.

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Speaker 7: He loves it so much and you just see it.

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Speaker 5: Four through and fellow NHR fundy car driver Ron Caps.

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Speaker 8: He took everything that Snak and Mongoose and Big Daddy

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Speaker 8: Dongars and Shirley Muldowney had built back in the day,

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Speaker 8: the models we played with in the hot wheels, and

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Speaker 8: he carried the sport and people. I just had a

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Speaker 8: conversation a minute ago with somebody talking about Force and

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Speaker 8: they felt like they were hanging out.

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Speaker 4: With him when they watched.

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Speaker 8: They sat back with a beer on TV watched John Force,

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Speaker 8: and his interviews made them feel like they could just

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Speaker 8: go hang out with him.

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Speaker 1: This is the Raething report on America's Drugging Network on

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Speaker 1: seven hundred WLW.

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Speaker 3: Say Denas are reporting for a T N.

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Speaker 9: Hay Sin Sannie's former Bengal and Pro Football Hall of

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Speaker 9: Famer Anthony Munews. Are you or someone you know looking

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Speaker 9: to gain valuable experience that positively impacts the community. The

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Speaker 9: Anthony Munyas Foundation is currently seeking students from all academic

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Speaker 9: disciplines to intern with the Foundation. Our interns are imperative

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Speaker 9: to the success of our programs. We strive to give

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Speaker 9: interns real world hands on experience and the opportunities to

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Speaker 9: see your work make a real difference in the community.

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Speaker 9: Visit Munas Foundation dot org or call five one three

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Speaker 10: Why would a guy in financial services pick a fight

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Speaker 10: with the financial industry because in many cases.

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Speaker 2: I'm Kevin Gordon, americastruck at Network seven hundred WLW. Joining

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Speaker 2: me is Phil Flynn, Senior account executive of the Price

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Speaker 2: Futures Group, author of the Energy Report, contribute to Fox

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Speaker 2: Business Network last Saturday in Fox Weather Channel as well,

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Speaker 2: and my good friend and friend of ATN. Thanks for

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Speaker 2: joining us this morning, Phil, I certainly appreciate it.

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Speaker 4: It's great to be here. Thanks for giving me off

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Speaker 4: the road to you know, sit there and focus here.

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Speaker 4: Thank you. What's for having me?

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Speaker 2: Yeah, that's my pleasure. We've been seeing some crazy energy prices.

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Speaker 2: We've been seeing the oil fluctuations. I think if you

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Speaker 2: look at since January twentieth, Oil West Texas are the

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Speaker 2: two main components. West Texas intermedia crewed down twenty five percent,

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Speaker 2: Brent crude down about twenty percent depending upon the day.

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Speaker 2: We're not seeing that kind of reflected in the gas prices,

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Speaker 2: and there's been some I guess geopolitical problems with that

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Speaker 2: refinery issues. So kind of for the people that follow this,

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Speaker 2: where why isn't the gas prices coming down the way

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Speaker 2: we'd like them to be?

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Speaker 4: You know, I think you're absolutely right. I mean, we

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Speaker 4: should see lower gasoline prices. But even though we seem

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Speaker 4: to have plenty of supply a crewed or at least

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Speaker 4: what they keep telling us, when you look at the

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Speaker 4: global situation for other fuels like diesel fuel and gasoline,

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Speaker 4: supplies are not that ample. And we've been seeing warning

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Speaker 4: signs in the market, and we look at refining margins

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Speaker 4: and they're signaling to the market, Hey, don't get complacent

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Speaker 4: about oil prices. We've got a problem Houston, and that

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Speaker 4: Houston problem is with low supplies of diesel fuel. No

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Speaker 4: diesel fuel in like chat fuel and diesel fuel and

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Speaker 4: all of those type of fuels are in tight supplies,

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Speaker 4: and that's keeping the market rather elevated as refiners have

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Speaker 4: to focus on that, and that's keeping those gasoline prices

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Speaker 4: high as well.

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Speaker 3: And you've been focusing on your energy report.

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Speaker 2: Kind of this push pull between the International Energy Agency

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Speaker 2: and OPAK, there's been kind of this push pull. We're

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Speaker 2: getting kind of different comments in terms of what we're

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Speaker 2: going to have in terms of whether we're going to

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Speaker 2: have an.

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Speaker 3: Oil glut and oil shortage. It's kind of weird, it

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Speaker 3: really is.

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Speaker 4: They're going after each other. It's kind it's kind of

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Speaker 4: funny to watch, right, I mean, you know, it's kind

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Speaker 4: of like one of these words. You know, you hate

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Speaker 4: card tells, but you're kind of rooting for Opeck on

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Speaker 4: this one because they seem to be talking common sense

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Speaker 4: where they're saying, hey, you know, when we look at

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Speaker 4: the supply and demand situation, we believe there's going to

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Speaker 4: be a continuing need for fossil fuels in the future.

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Speaker 4: And this talk of a glot that the International Energy

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Speaker 4: Agency is trying to sell us not as dangerous, right,

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Speaker 4: They're worried that they the International Energy Agency, or we

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Speaker 4: like to call it the International Climate Unism Agency. You know,

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Speaker 4: it's more interesting, you know, pushing a green energy agenda

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Speaker 4: as they are to you know, focusing on energy security,

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Speaker 4: which by the way, is their mission, right, energy security

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Speaker 4: for consuming nations in Europe and around the world. But

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Speaker 4: they've lost that mission, you know, they seem that they

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Speaker 4: see their mission now is to push green energy. They're

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Speaker 4: telling us, you know, a few years ago, oh, we're

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Speaker 4: going to stop needing oil, stop investing in fossil fuels,

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Speaker 4: We're going to meet our climate targets. Stop. Today they

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Speaker 4: backed off of that, right, they have to keep pushing

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Speaker 4: them back. Oh yeah, we were wrong about the world

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Speaker 4: not you know, oil demand stopping going to higher, It's

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Speaker 4: going to continue to go higher, further and further out.

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Speaker 4: And the ope's like, yeah, no kidding, you know, that's

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Speaker 4: common sense. Look at the demand for you know, fuels

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Speaker 4: around the globe that goes up every year, you know,

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Speaker 4: the increasing demand from artificial intelligence. So yeah, so there

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Speaker 4: is basically a showdown. In fact, the discrepancy right now

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Speaker 4: is the largest probably in history. I mean, the difference

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Speaker 4: between what they see on demand is about one point

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Speaker 4: eight million barrels a day. You know, that's that's like

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Speaker 4: the entire oil production of France, right you know, it's

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Speaker 4: it's pretty pretty big discrepancy and it's having an impact

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Speaker 4: on prices, and which.

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Speaker 2: Is funny Phil Flynn, my guest, the fact that the

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Speaker 2: International Energy Agency, who we would think in terms of

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Speaker 2: energy would be focused on energy, went off on this

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Speaker 2: green new deal, green new steel tangent and said, you know,

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Speaker 2: we're going to focus on that, and now all of

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Speaker 2: a sudden they kind of come back one to eighty

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Speaker 2: and said, okay, well, you know, telling everybody to stop

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Speaker 2: investment in fossil fuels and which I hate its natural resource,

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Speaker 2: so telling them not to invest in that, Now all

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Speaker 2: of a sudden people took them out their words, stopped investing,

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Speaker 2: and this is going to lead us a little bit,

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Speaker 2: going to lead us a.

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Speaker 3: Lot short in terms of production.

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Speaker 2: And now they're going out and saying that they're the

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Speaker 2: ones that are now talking about an oil glut, whereas

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Speaker 2: OPEK is being more reasonable and saying, nah, not so much.

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Speaker 2: So it's kind of like they can't figure out which

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Speaker 2: way they're going.

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Speaker 4: No, they can't, and you know, it makes you wonder

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Speaker 4: why they'd be predicting this glut. The glut, by the

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Speaker 4: way that they're talking about is even bigger than when

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Speaker 4: we shut down the entire autonomy right during COVID, which

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Speaker 4: doesn't seem to make sense on any level at all.

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Speaker 4: Right in OPEK is like no, And even though OPEK,

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Speaker 4: you know, they were actually predicting last month of supply

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Speaker 4: deficit in the globe and they OPEC did back off

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Speaker 4: of that a little bit there. Now they're gone from

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Speaker 4: a slow deficit to a slight surplus. But that surplus

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Speaker 4: is so small that you know, if if Kevin spoil

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Speaker 4: a little gas at the gas tank, you know you're

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Speaker 4: going to offset that bamplet, right, So that's how great

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Speaker 4: height it is, you know, and you know I wouldn't

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Speaker 4: you know, normally this wouldn't be that big a deal,

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Speaker 4: but people, industry investors make decisions based off these reports.

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Speaker 4: Right in the markets moved based on these reports. And

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Speaker 4: what concerns me is that these false reports put in

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Speaker 4: overconfidence in the market that everything's going to be okay.

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Speaker 4: You know, even though we're seeing the crackspread screaming, hey boy,

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Speaker 4: we got tight supplies here. Oh gasoline, We've got tight

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Speaker 4: supplies here. You know, while they're screaming that right at

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Speaker 4: the end of the day, what we're seeing here from

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Speaker 4: the actual uh marketplace. You know, oil prices have been very,

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Speaker 4: very complacent, So that complacency can bite us because let's

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Speaker 4: say we get a real cold winter and we've got

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Speaker 4: short diesel supplies, prices could spike up. We won't have

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Speaker 4: the extra oil supplies because prices are artificially low, and

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Speaker 4: that's one of the I think it's a real danger

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Speaker 4: going into this winter.

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Speaker 3: Exactly.

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Speaker 2: My guess is Phil Flynn's senior account executive the Price

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Speaker 2: Futures Group. I mean, it's not like we're talking small

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Speaker 2: potatoes here, Phil is you know, energy crosses every business.

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Speaker 2: I don't care whether you're an accountant, an attorney, whether

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Speaker 2: you're in a manufacturing facility, or whether you're in any

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Speaker 2: kind kind of business whatsoever. Energy is extremely important. You know,

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Speaker 2: every time you flip on the lights, you're dealing with energy.

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Speaker 2: So energy is a large.

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Speaker 3: Component component of the of the home.

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Speaker 2: Budget, the factory budget, the business budget, all across the way.

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Speaker 2: And so if we're having problems in the energy sector,

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Speaker 2: that's going to affect business. It's going to affect the

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Speaker 2: bottom line, and it's going to affect your kitchen table budget.

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Speaker 4: So it is, and I'll tell you this. That's one

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Speaker 4: of the things I hear from people all the time,

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Speaker 4: you know, when they see me in Fox Business or

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Speaker 4: Fox Weather, and they see me in the street and

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Speaker 4: the work. They're always come up through what's can happen

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Speaker 4: with gasoline prices because it matters so much because their

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Speaker 4: life revolves around that, right, you know how much money

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Speaker 4: they're going to have, and some of up that, you know,

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Speaker 4: suv driving the kids to school every day. Once that

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Speaker 4: gets very expensive, that takes a big bite out of

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Speaker 4: everybody's budget, exactly.

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Speaker 2: And it's something that has not gotten a lot of attention.

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Speaker 2: And we've had well in this country. We've gotten away

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Speaker 2: from focusing on oil refining and gasoline refining to the

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Speaker 2: point where as we've said in the past that there

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Speaker 2: hasn't been a new refinery built in this country since

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Speaker 2: nineteen forty seven, and we're dealing with basically a limited

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Speaker 2: amount of refining capability. But they are working at about

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Speaker 2: what is it about ninety five percent capacity, which most businesses,

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Speaker 2: I don't know how many many people can many businesses

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Speaker 2: can operate at ninety five percent capacity for a long

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Speaker 2: period of time.

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Speaker 4: No, they haven't, you know, And they've been refining maintenance.

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Speaker 4: I mean, if you look at refining capacity, they've been

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Speaker 4: running at those high rates for a long period of time,

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Speaker 4: and that means there's not a lot of room for

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Speaker 4: marchants of error. And then of course you look around

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Speaker 4: the globe. The refining capacity in Russia has been taking

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Speaker 4: a big hit, right because Ukraine has been hitting their

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Speaker 4: oil infrastructure. And while that kind of pushed prices of

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Speaker 4: oil down a little bit because Russia is trying to

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Speaker 4: dump their oil, it hurt the global inventory of heavy

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Speaker 4: oil when distill its that Russia likes to make. So

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Speaker 4: you have this perfect storm of these predictions from the

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Speaker 4: international energy agencies, but the realistic tightness of supply on

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Speaker 4: the ground. Something's got to give, right. You can't have

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Speaker 4: it both ways. You can have you know, rocketing diesel

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Speaker 4: prices and falling crude prices forever. Right, something's going to

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Speaker 4: get but either the economy is going to collapse or

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Speaker 4: oil prices are going to have to go up. And

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Speaker 4: you know, unless they figured out a way to make

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Speaker 4: diesel supply out of water, which I don't think they

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Speaker 4: figured that out quite Yeah, I figured that out. You

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Speaker 4: could work on that this weekend.

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Speaker 3: Yeah, I'll do that.

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Speaker 4: Maybe we could figure out a way, and.

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Speaker 3: Yeah, I'll figure that out.

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Speaker 2: We need to take a short break, and when we

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Speaker 2: come back, let's talk about what's going on as far

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Speaker 2: as the economy and tariffs and that sort of thing,

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Speaker 2: and what you kind of are seeing as far as

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Speaker 2: your end, and because you've been doing a very good

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Speaker 2: job of talking about the tariffs and impact on the

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Speaker 2: economy and whether or not there's inflation and so on.

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Speaker 2: So my guest is Phil Flynn, Senior account executive of

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Speaker 2: the Price Futures Group. I'm Kevin Gordon. America's struck a

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Speaker 2: Network seven hundred w LW.

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Speaker 11: News, Traffic and weather. News Radio seven hundred w l W, Cincinnati.

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Speaker 10: Texas is new house man struck down for using race

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Speaker 10: in redistrict ding with your twelve thirty report, I'm Travis

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Speaker 10: Laird breaking now a three judge panel. A federal judge

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Speaker 10: panel has ruled Texas's new congressional map is illegal, saying

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Speaker 10: the redistricting was built around race rather than partisan advantage.

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Speaker 10: The decision blocks the map from use in next year's midterms.

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Speaker 10: Here's ABC News legal contributor James Sample.

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Speaker 12: The redistricting was designed around racial purposes, and in fact

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Speaker 12: relied heavily on a letter from the Department of Justice

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Speaker 12: that was all about race and did not mention partisanship

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Speaker 12: one time.

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Speaker 10: The state's top Republicans say they will appeal to the

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Speaker 10: Supreme Court.

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Speaker 11: Now the ladies forecast from the Train Heating and Cooling

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Speaker 11: Weather Center on news radio seven hundred WLW.

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Speaker 13: Heading for daybreak on Wednesday, we have got a chance

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Speaker 13: for more rain, but it looks like we'll see more

437
00:23:53,960 --> 00:23:56,840
Speaker 13: patche fog, little drizzle in the morning. We'll see a

438
00:23:56,880 --> 00:23:59,639
Speaker 13: low of forty two. Now for the rest of our

439
00:23:59,680 --> 00:24:02,600
Speaker 13: Wednesday day, it's cloudy and a high of fifty three.

440
00:24:03,080 --> 00:24:06,919
Speaker 13: Maybe a few punches of sunshine. Otherwise, more clouds at

441
00:24:07,000 --> 00:24:09,560
Speaker 13: night and a low down to forty five. From your

442
00:24:09,560 --> 00:24:14,800
Speaker 13: severe weather station, I'm nine First Warning, Chief Meteorologist, Steve Rawley,

443
00:24:15,160 --> 00:24:19,600
Speaker 13: News Radio seven hundred WLW, right now forty four degrees

444
00:24:19,760 --> 00:24:23,560
Speaker 13: in Cincinnati. The push to end Butler County's ice detention

445
00:24:23,720 --> 00:24:27,000
Speaker 13: contract continued today as dozens filled the Board of County

446
00:24:27,000 --> 00:24:30,679
Speaker 13: Commissioners meeting. The agreement allows the jail to hold federal

447
00:24:30,720 --> 00:24:35,640
Speaker 13: immigration detainees, and activists argue it harms community safety and trust.

448
00:24:35,960 --> 00:24:39,400
Speaker 13: Members of the Butler County Immigrant Justice say they've been

449
00:24:39,440 --> 00:24:42,280
Speaker 13: speaking out for months. Commissioners say they do not control

450
00:24:42,359 --> 00:24:45,280
Speaker 13: the sheriff's policies, and one said he has no intention

451
00:24:45,480 --> 00:24:49,200
Speaker 13: of seeking changes to the contract now. Lee Mawen launched

452
00:24:49,240 --> 00:24:53,600
Speaker 13: the Sports Noise seven one hundred WLW.

453
00:24:53,600 --> 00:24:57,480
Speaker 7: Sports Trey Hendrickson, samaj p Ryans, Tamar Stewart did not

454
00:24:57,520 --> 00:25:00,440
Speaker 7: practice for a second straight day for the Bengals. Burton

455
00:25:00,520 --> 00:25:04,200
Speaker 7: and Lucaspatrick also not practicing. Joe Flacco and Bj Hill

456
00:25:04,240 --> 00:25:08,119
Speaker 7: were limited Bengals at the Steelers Sunday afternoon. One Red's

457
00:25:08,160 --> 00:25:11,640
Speaker 7: higher bullpen coach Oscar Marine Matt Tracy becomes the new

458
00:25:11,640 --> 00:25:15,480
Speaker 7: assistant pitching coach Simon Matthews leave Cincinnati to become the

459
00:25:15,520 --> 00:25:18,960
Speaker 7: new pitching coach of the Nationals and Cyclones announcing Ford,

460
00:25:19,000 --> 00:25:21,879
Speaker 7: Ben King and goalie Ken Appleby are now with the

461
00:25:21,920 --> 00:25:26,160
Speaker 7: AHLs Toronto. Marley's Cyclones host The Walleye Friday night at

462
00:25:26,200 --> 00:25:27,200
Speaker 7: seven thirty five.

463
00:25:29,680 --> 00:25:32,680
Speaker 10: Your next update is at one o'clock. Breaking news anytime.

464
00:25:32,720 --> 00:25:37,000
Speaker 10: I'm Travis Laird. News Radio seven hundred WLW.

465
00:25:36,320 --> 00:25:39,600
Speaker 9: Switched to America's number one commercial truck and Sure visit

466
00:25:39,680 --> 00:25:41,800
Speaker 9: progressivecommercial dot com.

467
00:25:41,960 --> 00:25:44,119
Speaker 1: A decade ago, I was on the trail of one

468
00:25:44,119 --> 00:25:47,080
Speaker 1: of the country's most elusive serial killers, but it wasn't

469
00:25:47,160 --> 00:25:47,960
Speaker 1: until twenty.

470
00:25:48,160 --> 00:25:50,560
Speaker 14: Here's your trucking forecast for the tri State and the

471
00:25:50,560 --> 00:25:53,040
Speaker 14: rest of the country and the Try State. Overnight rain

472
00:25:53,080 --> 00:25:54,960
Speaker 14: has moved out, as we'll see Patchee fond be low

473
00:25:55,040 --> 00:25:58,160
Speaker 14: down to forty one, mostly claudi Wednesday high of fifty

474
00:25:58,160 --> 00:26:00,639
Speaker 14: four Claudie Thursday with a slight chance of rain in

475
00:26:00,680 --> 00:26:03,840
Speaker 14: the afternoon to hi fifty eight, cloudy with rain likely Friday,

476
00:26:04,040 --> 00:26:07,040
Speaker 14: the high in year sixty Nationally. Scattered storms and heavy

477
00:26:07,119 --> 00:26:09,960
Speaker 14: rain we'll linger Wednesday across lower Colorado, but won't be

478
00:26:09,960 --> 00:26:12,760
Speaker 14: as widespread through Friday. There was a risk of showers

479
00:26:12,760 --> 00:26:15,399
Speaker 14: and storms that could bring instances of flash flooding in

480
00:26:15,480 --> 00:26:18,359
Speaker 14: the southern plains Monerit. Heavy snowfall seen in parts of

481
00:26:18,400 --> 00:26:21,720
Speaker 14: the southern Utah Mountains in Sierra Nevada Mountains. Meanwhile, well

482
00:26:21,720 --> 00:26:24,000
Speaker 14: above average temperature scene in the south in the plains

483
00:26:24,040 --> 00:26:27,360
Speaker 14: Tuesday through the southeast Thursday with a few record high

484
00:26:27,359 --> 00:26:28,480
Speaker 14: as possible.

485
00:26:29,760 --> 00:26:33,600
Speaker 2: Seven hundred WLW. I'm Kevin Gordon. This as America struck

486
00:26:33,640 --> 00:26:37,280
Speaker 2: in network again. Continuing our conversation with Phil Flynn, senior

487
00:26:37,280 --> 00:26:39,400
Speaker 2: account executive of the Price Futures Group.

488
00:26:39,640 --> 00:26:42,080
Speaker 3: Phil, thanks for hanging with us. I certainly appreciate it.

489
00:26:42,160 --> 00:26:43,600
Speaker 4: Oh, it's great to be here. Take you.

490
00:26:43,880 --> 00:26:46,080
Speaker 2: We have been getting a lot of mixed signals as

491
00:26:46,119 --> 00:26:48,600
Speaker 2: far as how the economy is going. At the beginning

492
00:26:48,640 --> 00:26:50,760
Speaker 2: of the year, there was a lot of anticipation, a

493
00:26:50,760 --> 00:26:53,080
Speaker 2: lot of optimism, and then all of a sudden, with

494
00:26:53,119 --> 00:26:55,040
Speaker 2: the talk of terrafs, all of a sudden we had

495
00:26:55,080 --> 00:26:58,800
Speaker 2: that on Liberation Day, the market fell, some of the

496
00:26:58,840 --> 00:27:02,960
Speaker 2: so called x er it's the uh the economists, as

497
00:27:03,000 --> 00:27:07,200
Speaker 2: we say, we're talking about the R word having a recession.

498
00:27:07,520 --> 00:27:10,320
Speaker 2: Now we need to remind people and economists, as an

499
00:27:10,320 --> 00:27:13,920
Speaker 2: expert who will tell you tomorrow, why the while, why

500
00:27:13,960 --> 00:27:18,639
Speaker 2: the things he predicted yesterday didn't happen today. So again

501
00:27:19,119 --> 00:27:22,679
Speaker 2: the mixed signals from them, and everybody was saying, or

502
00:27:22,760 --> 00:27:24,320
Speaker 2: they were saying at the time, that we were going

503
00:27:24,400 --> 00:27:27,240
Speaker 2: to have a spike in inflation as a result of tariffs.

504
00:27:27,520 --> 00:27:29,720
Speaker 2: You were one of the few people and I here

505
00:27:29,760 --> 00:27:32,080
Speaker 2: on America's struck a network and there's a few other people,

506
00:27:32,119 --> 00:27:34,679
Speaker 2: I think Kevin O'Leary and a few other people on

507
00:27:34,680 --> 00:27:38,360
Speaker 2: the Fox Business channel said, Uh, tariffs don't lead to inflation.

508
00:27:38,800 --> 00:27:40,840
Speaker 2: It's the overspending of the federal government.

509
00:27:41,160 --> 00:27:44,199
Speaker 4: I have that right, And that's absolutely correct. You got it,

510
00:27:44,240 --> 00:27:47,560
Speaker 4: absolutely correct. And and and you know, to be honest

511
00:27:47,600 --> 00:27:50,280
Speaker 4: with you, I think the economy is doing great. Uh,

512
00:27:50,400 --> 00:27:52,639
Speaker 4: it's doing so good. I think that's why the Democrats

513
00:27:52,640 --> 00:27:56,480
Speaker 4: had to shut it down. Right. I think so market

514
00:27:56,680 --> 00:27:59,640
Speaker 4: wasn't fit in the fit in their narrative, right. I mean,

515
00:27:59,800 --> 00:28:01,720
Speaker 4: you know, they came out and said, oh my gosh,

516
00:28:01,760 --> 00:28:04,840
Speaker 4: tariffs are going to cause record inflation. You know, these

517
00:28:04,840 --> 00:28:09,280
Speaker 4: are the same people that defended president of President Biden's

518
00:28:09,359 --> 00:28:13,280
Speaker 4: overspending and fought it to the tilt that caused the inflation.

519
00:28:13,720 --> 00:28:16,440
Speaker 4: And it shows you and even the Federal Reserve, which

520
00:28:16,480 --> 00:28:19,840
Speaker 4: you would think would know better based off history, came

521
00:28:19,840 --> 00:28:21,919
Speaker 4: out and said, you know, well, we're not sure about this.

522
00:28:22,000 --> 00:28:25,479
Speaker 4: It could contemplation. But yet it's like, all right, guys,

523
00:28:25,800 --> 00:28:27,720
Speaker 4: you have a history book. You know, if you look

524
00:28:27,760 --> 00:28:30,080
Speaker 4: at tariffs in the past, has it ever cost inflation?

525
00:28:30,160 --> 00:28:32,400
Speaker 4: The answer is no. And they said, well it could

526
00:28:32,440 --> 00:28:35,840
Speaker 4: be different this time, right, It's not different. Listen, I'm

527
00:28:35,840 --> 00:28:38,440
Speaker 4: not telling you Kevin that there aren't some businesses that

528
00:28:38,520 --> 00:28:41,600
Speaker 4: aren't going to feel the impact from tariffs. There are,

529
00:28:42,160 --> 00:28:45,720
Speaker 4: There are a lot out there. But on the flip

530
00:28:45,800 --> 00:28:48,080
Speaker 4: side of that, there's a lot of businesses that have

531
00:28:48,200 --> 00:28:51,480
Speaker 4: been hurt by overseas tariffs that are going to get

532
00:28:51,520 --> 00:28:56,840
Speaker 4: some relief, right. And we've seen the dumping of solar

533
00:28:56,960 --> 00:29:00,400
Speaker 4: panels and other products into this country to try to

534
00:29:00,800 --> 00:29:03,360
Speaker 4: you know, drive us out of business and put unfair

535
00:29:03,680 --> 00:29:06,680
Speaker 4: trade practices. If we can level that playing field, I

536
00:29:06,680 --> 00:29:08,560
Speaker 4: think it's going to be in net win. And one

537
00:29:08,600 --> 00:29:10,320
Speaker 4: of the things that we're seeing is something you and

538
00:29:10,360 --> 00:29:13,040
Speaker 4: I predicted, uh, what we're seeing the trade deffic is

539
00:29:13,080 --> 00:29:16,600
Speaker 4: to go down dramatically. Right. The trade deficit causes inflation

540
00:29:16,640 --> 00:29:19,160
Speaker 4: because we have to spend more money to support the

541
00:29:19,720 --> 00:29:22,200
Speaker 4: you know, imbalance and trade. You know. And if we

542
00:29:22,240 --> 00:29:25,240
Speaker 4: can start bringing back some manufacturing jobs to this country

543
00:29:25,280 --> 00:29:27,400
Speaker 4: is opposed to shipping them off to somewhere, that's going

544
00:29:27,440 --> 00:29:30,040
Speaker 4: to bring in more tax revenue. That means the government

545
00:29:30,080 --> 00:29:31,719
Speaker 4: is going to have to print less money. And if

546
00:29:31,720 --> 00:29:36,080
Speaker 4: they're brunting less money, how lujah, it's a miracle inflation

547
00:29:36,240 --> 00:29:38,719
Speaker 4: starts to come down. So I think inflation is going

548
00:29:38,760 --> 00:29:41,840
Speaker 4: to come down. Now, we do have some cyclical problems

549
00:29:41,880 --> 00:29:44,920
Speaker 4: in the market, you know, in the meat markets for example,

550
00:29:45,320 --> 00:29:49,720
Speaker 4: you know, because of COVID, you know, uh, Turkey prices,

551
00:29:49,800 --> 00:29:51,800
Speaker 4: because of the bird flow. There's a lot of things

552
00:29:51,840 --> 00:29:54,680
Speaker 4: that you know, have caused you know, some markets to

553
00:29:54,720 --> 00:29:57,920
Speaker 4: come up that has nothing to do with you know,

554
00:29:58,040 --> 00:30:01,200
Speaker 4: normal inflationary pressures, right, and they're not going to go away.

555
00:30:02,320 --> 00:30:04,600
Speaker 4: But I think you know, over time, those things are

556
00:30:04,600 --> 00:30:07,000
Speaker 4: going to level off and you're going to see real

557
00:30:07,040 --> 00:30:10,240
Speaker 4: inflation start to come down. And you know, one of

558
00:30:10,280 --> 00:30:13,600
Speaker 4: the funniest things I saw is some courts its outrage

559
00:30:14,080 --> 00:30:17,200
Speaker 4: that we're putting tariffs on Italian pasta. And I'm like, oh,

560
00:30:17,240 --> 00:30:20,200
Speaker 4: my gosh, how horrible is that We're going to have

561
00:30:20,240 --> 00:30:24,320
Speaker 4: to eat American made pasta? Oh yeah, I mean it's pasta,

562
00:30:24,400 --> 00:30:26,800
Speaker 4: for heaven's sakes. You know, come on, guys, I think

563
00:30:26,800 --> 00:30:28,840
Speaker 4: we can make pasta in this country. I don't know

564
00:30:28,840 --> 00:30:29,200
Speaker 4: about you.

565
00:30:29,400 --> 00:30:31,640
Speaker 2: I think we can now, you know, when they talk

566
00:30:31,680 --> 00:30:34,800
Speaker 2: about food prices and stuff and of course overall inflation.

567
00:30:35,520 --> 00:30:37,560
Speaker 3: You know, I was looking at the Bureau.

568
00:30:37,360 --> 00:30:39,880
Speaker 2: Of Labor Statistics, came back briefly to come up with

569
00:30:39,960 --> 00:30:43,560
Speaker 2: the cost of living index for COLA, for social Security,

570
00:30:43,680 --> 00:30:45,640
Speaker 2: they were talking about, well, the social Security is going

571
00:30:45,680 --> 00:30:48,080
Speaker 2: to go up two point eight percent. Now they were

572
00:30:48,120 --> 00:30:51,080
Speaker 2: talking about this, and that two point eight percent has

573
00:30:51,120 --> 00:30:54,080
Speaker 2: been you know, they base that on inflation obviously, but

574
00:30:54,280 --> 00:30:55,920
Speaker 2: for the people out there that aren't aware of that,

575
00:30:56,120 --> 00:30:59,080
Speaker 2: which tells me that they cost a living index over

576
00:30:59,120 --> 00:31:02,440
Speaker 2: the last seveneveral years, ten years or so has been

577
00:31:02,480 --> 00:31:05,640
Speaker 2: around two point eight percent. And so if it's at

578
00:31:05,680 --> 00:31:08,840
Speaker 2: two point eight percent, why is Lyon, Jerry Powell and

579
00:31:08,880 --> 00:31:11,800
Speaker 2: the Fed trying to get that down to two percent

580
00:31:11,840 --> 00:31:14,640
Speaker 2: and that's their target when it hasn't been down there

581
00:31:14,960 --> 00:31:17,040
Speaker 2: at any time in the last several years.

582
00:31:17,360 --> 00:31:20,719
Speaker 4: Right, Yeah, I think it's it's a problem. It's a problem.

583
00:31:20,760 --> 00:31:23,200
Speaker 4: And that's you know, I and I you know, sad

584
00:31:23,240 --> 00:31:25,600
Speaker 4: to say. I think Trump poll you know, it's obvious

585
00:31:25,640 --> 00:31:28,800
Speaker 4: he's become a little bit political, right, I mean, his

586
00:31:28,920 --> 00:31:31,840
Speaker 4: feelings have been hurt by President Trump, you know, but

587
00:31:31,920 --> 00:31:33,960
Speaker 4: if you look at his track record and you know,

588
00:31:34,000 --> 00:31:36,400
Speaker 4: the poor guy, maybe he wasn't the right guy for

589
00:31:36,520 --> 00:31:40,040
Speaker 4: the job, right because he wasn't a traditional you know,

590
00:31:40,120 --> 00:31:43,440
Speaker 4: did not have a traditional FED chairman background. But I

591
00:31:43,480 --> 00:31:45,120
Speaker 4: haven't said that. I mean this is the guy that

592
00:31:45,320 --> 00:31:48,959
Speaker 4: you know, sadly told this inflation was transitory because of

593
00:31:49,160 --> 00:31:51,400
Speaker 4: you know, the tariffs. He was wrong about that, and

594
00:31:51,440 --> 00:31:54,480
Speaker 4: sadly I think he's been wrong about by the interest rates,

595
00:31:54,520 --> 00:31:57,680
Speaker 4: you know, not being more aggressive on rates. And you know, hey,

596
00:31:57,840 --> 00:32:01,160
Speaker 4: it's easy to Monday morning quarter back, you know, but

597
00:32:01,520 --> 00:32:04,440
Speaker 4: it does, you know, it does make you wonder either

598
00:32:04,560 --> 00:32:09,960
Speaker 4: he's just been very wrong about stuff or maybe somewhat political.

599
00:32:10,080 --> 00:32:13,040
Speaker 4: I don't know what the answer is. It's a tough job.

600
00:32:13,280 --> 00:32:15,680
Speaker 4: It's easy for me to sit back and say, Jerome Pile,

601
00:32:15,720 --> 00:32:18,600
Speaker 4: you failed here, you fail there, you know, because in

602
00:32:18,680 --> 00:32:22,040
Speaker 4: hindsight it's easy to do. But at the same time,

603
00:32:22,080 --> 00:32:23,840
Speaker 4: I think we need to change, right, I think we

604
00:32:23,880 --> 00:32:26,200
Speaker 4: need to change at the FED. You are seeing the

605
00:32:26,240 --> 00:32:29,800
Speaker 4: FED officials. They're starting to rebel a little bit. You know,

606
00:32:29,840 --> 00:32:31,800
Speaker 4: before it was like, hey, we're going to rubber stand

607
00:32:31,880 --> 00:32:35,840
Speaker 4: this decision. We're seeing more discent in inside the halls

608
00:32:35,840 --> 00:32:38,760
Speaker 4: of the FED, which is a good thing. We need debate,

609
00:32:39,320 --> 00:32:41,720
Speaker 4: we need to change, and I think it's coming. I

610
00:32:41,760 --> 00:32:44,640
Speaker 4: think we're going to get a rate cut, and I

611
00:32:44,640 --> 00:32:47,440
Speaker 4: think we need one, especially anybody wants to shop for

612
00:32:47,440 --> 00:32:50,920
Speaker 4: a house, you know, definitely going to see some relief

613
00:32:50,960 --> 00:32:53,200
Speaker 4: there or your credit card bills, so you know.

614
00:32:53,200 --> 00:32:55,680
Speaker 2: And every time I pick up something having to do

615
00:32:55,840 --> 00:33:00,320
Speaker 2: with oil prices, Reuters does their reports or anything, they

616
00:33:00,360 --> 00:33:03,960
Speaker 2: talk about interest and when they mentioned interest rates, they'll say, well,

617
00:33:04,080 --> 00:33:07,520
Speaker 2: lower interest rates causes more demand and builds and makes

618
00:33:07,560 --> 00:33:10,440
Speaker 2: the economy stronger and people go out and spend. So

619
00:33:10,640 --> 00:33:13,840
Speaker 2: if you're interested in improving the economy, I would think

620
00:33:13,880 --> 00:33:17,000
Speaker 2: the Federal Reserve would be interested in lowering those interest rates.

621
00:33:17,160 --> 00:33:19,200
Speaker 2: That would solve some of the problems as far as

622
00:33:19,200 --> 00:33:21,800
Speaker 2: some of these kids wanting to get into a new

623
00:33:21,840 --> 00:33:25,920
Speaker 2: home affordability. When you look at the difference in prices

624
00:33:26,320 --> 00:33:29,000
Speaker 2: in terms of the interest rate, as far as the

625
00:33:29,080 --> 00:33:32,400
Speaker 2: affordability of the type of home you can buy versus

626
00:33:33,360 --> 00:33:35,960
Speaker 2: how much that's going to cost you down the road,

627
00:33:36,160 --> 00:33:37,760
Speaker 2: it is one of the things I think that is

628
00:33:37,760 --> 00:33:42,320
Speaker 2: holding back the economy. We're not seeing companies wanting to expand.

629
00:33:42,920 --> 00:33:44,440
Speaker 2: And if you don't expand, you're not going to be

630
00:33:44,520 --> 00:33:47,520
Speaker 2: hiring and employees. If you're not going to be, in

631
00:33:47,520 --> 00:33:51,160
Speaker 2: this case, buying new trucks or improving your fleet, you're

632
00:33:51,200 --> 00:33:54,840
Speaker 2: going to be behind the eight ball. And because of

633
00:33:55,040 --> 00:33:59,080
Speaker 2: the interest rates being so expensive, people are holding back thinking, okay,

634
00:33:59,120 --> 00:34:01,360
Speaker 2: they may come down. I think that is the single

635
00:34:01,400 --> 00:34:04,720
Speaker 2: biggest thing on holding the reins back as far as

636
00:34:04,760 --> 00:34:07,520
Speaker 2: this economy exploding to the positive.

637
00:34:07,200 --> 00:34:10,120
Speaker 4: Yeah, I think so. And listen, you know, the FED

638
00:34:10,200 --> 00:34:12,879
Speaker 4: has a dual mandate, right, they have jobs and they

639
00:34:12,880 --> 00:34:16,800
Speaker 4: have inflation, right, and they know that under the last

640
00:34:16,840 --> 00:34:19,800
Speaker 4: administration they failed miserably on inflation.

641
00:34:20,080 --> 00:34:20,319
Speaker 3: Right.

642
00:34:20,840 --> 00:34:26,680
Speaker 4: They did not react to the Biden administration's reckless spending.

643
00:34:27,880 --> 00:34:30,080
Speaker 4: And if you look back and think about all the

644
00:34:30,080 --> 00:34:32,960
Speaker 4: reckless spending, you know on green energy projects, what did

645
00:34:33,000 --> 00:34:34,759
Speaker 4: we get for it? Do you see you know? Do

646
00:34:34,800 --> 00:34:37,960
Speaker 4: you see you know, electric car chargers in every corner.

647
00:34:38,040 --> 00:34:41,960
Speaker 4: You see people, you know, driving electric cars everywhere you go. No,

648
00:34:42,000 --> 00:34:45,759
Speaker 4: it hasn't happened. They tried to force people to do it, right,

649
00:34:45,840 --> 00:34:49,479
Speaker 4: and they and then they promised these wonderful green energy jobs.

650
00:34:49,520 --> 00:34:51,839
Speaker 4: I'm still waiting for those, by the way, where they right,

651
00:34:52,200 --> 00:34:54,880
Speaker 4: the millions of green energy jobs, right they were supposed

652
00:34:54,920 --> 00:34:57,719
Speaker 4: to create. So, uh, you know, and so the but

653
00:34:57,760 --> 00:35:00,239
Speaker 4: the FED backed them on this, right, they were like, oh, okay,

654
00:35:00,280 --> 00:35:03,280
Speaker 4: it's okay, you know, with this inflation. Yeah, we're seeing

655
00:35:03,520 --> 00:35:06,759
Speaker 4: these policies are causing inflation, but we we think it's

656
00:35:06,800 --> 00:35:09,680
Speaker 4: just gonna be temporary because of you know whatever, it's

657
00:35:09,680 --> 00:35:11,920
Speaker 4: going to average itself out, you know. And then we're

658
00:35:12,080 --> 00:35:13,840
Speaker 4: saying that for a year. You know, we're hearing it

659
00:35:13,880 --> 00:35:17,000
Speaker 4: from the Biden administration. We're hearing it from Janet Yellen.

660
00:35:17,239 --> 00:35:20,080
Speaker 4: You know, the Treasury secretary was a former FED chairman,

661
00:35:20,360 --> 00:35:22,120
Speaker 4: and we're hearing it from the Fed. And it makes

662
00:35:22,120 --> 00:35:25,560
Speaker 4: you wonder, why didn't they see you know, what has

663
00:35:25,560 --> 00:35:28,360
Speaker 4: happened over history that when the government prints money like

664
00:35:28,400 --> 00:35:32,440
Speaker 4: a drunken saler, it always leads to inflation. Right, So

665
00:35:32,480 --> 00:35:34,759
Speaker 4: if they really wanted to be honest, they should have

666
00:35:34,840 --> 00:35:38,680
Speaker 4: been early on fighting inflation. Now that war has been one, right,

667
00:35:38,840 --> 00:35:41,400
Speaker 4: we've you know, we we beat the back of inflation

668
00:35:41,840 --> 00:35:45,560
Speaker 4: with the tariffs under Trump. You know, inflation's trending down.

669
00:35:45,960 --> 00:35:47,839
Speaker 4: So now you got to go the other way because

670
00:35:47,880 --> 00:35:49,400
Speaker 4: if you let it go down too far, you're going

671
00:35:49,440 --> 00:35:52,920
Speaker 4: to see more layoffs, more people out of jobs in

672
00:35:52,960 --> 00:35:55,400
Speaker 4: front of the holidays. So I think, you know, if

673
00:35:56,120 --> 00:35:58,960
Speaker 4: you know, if mister Paul wants to go down as

674
00:35:59,080 --> 00:36:02,279
Speaker 4: the Grinch shoes so Christmas, he'll fight this interest rate

675
00:36:02,360 --> 00:36:04,879
Speaker 4: cut at the December meeting. I don't think he will,

676
00:36:04,920 --> 00:36:07,080
Speaker 4: but you know who wants to be grinch. I don't

677
00:36:07,080 --> 00:36:09,640
Speaker 4: think you could. You know you would look good in

678
00:36:09,719 --> 00:36:10,040
Speaker 4: the hat.

679
00:36:10,160 --> 00:36:12,759
Speaker 2: I think yeah, I don't know for sure. Well, Phil,

680
00:36:13,560 --> 00:36:15,880
Speaker 2: up against clock here. It's been great talking to you,

681
00:36:15,920 --> 00:36:18,840
Speaker 2: and we need to do this more often. You're probably

682
00:36:18,880 --> 00:36:21,720
Speaker 2: one of the brightest sponsing terms. You have been spot

683
00:36:21,800 --> 00:36:24,799
Speaker 2: on as far as inflation, you've been spot on as

684
00:36:24,800 --> 00:36:27,400
Speaker 2: far as the terrorists, and you are a great resource.

685
00:36:27,440 --> 00:36:29,879
Speaker 2: And I can't say how much I appreciate you being

686
00:36:29,920 --> 00:36:32,200
Speaker 2: on this program on a continuing basis.

687
00:36:32,560 --> 00:36:33,040
Speaker 3: Appreciate it.

688
00:36:33,440 --> 00:36:36,440
Speaker 4: I appreciate you being having me on. It's always a

689
00:36:36,440 --> 00:36:38,920
Speaker 4: pleasure of working with you, buddy. Thank you so much.

690
00:36:39,120 --> 00:36:42,560
Speaker 2: My guest, Phil Flynn, Senior account executive the Price Futures Group.

691
00:36:42,640 --> 00:36:46,640
Speaker 2: I'm Kevin Gordon. America's Struck a network seven hundred w

692
00:36:47,000 --> 00:36:47,440
Speaker 2: l W.

693
00:36:49,080 --> 00:36:52,360
Speaker 13: Run a business and not thinking about radio think again,

694
00:36:52,880 --> 00:36:55,360
Speaker 13: because more people are listening to the radio and iHeart

695
00:36:55,400 --> 00:36:56,520
Speaker 13: today than they were its.

696
00:36:56,360 --> 00:37:00,200
Speaker 2: One seven hundred w l W. I'm Kevin Gordon. Thanks

697
00:37:00,239 --> 00:37:02,960
Speaker 2: to Phil Flynn for joining me in the two previous segments.

698
00:37:03,200 --> 00:37:05,759
Speaker 2: Always enjoy talking to him. He's always got a lot

699
00:37:05,760 --> 00:37:08,200
Speaker 2: of great information. By the way, if you miss those

700
00:37:08,239 --> 00:37:11,080
Speaker 2: segments or any of our shows, hit up that iHeartRadio app.

701
00:37:11,080 --> 00:37:13,000
Speaker 2: And of course that's brought to you by our friends

702
00:37:13,000 --> 00:37:16,520
Speaker 2: at Rush Truck Centers. National Association of Home Builders Wells

703
00:37:16,560 --> 00:37:19,040
Speaker 2: Fargo Housing Market Index.

704
00:37:18,800 --> 00:37:21,200
Speaker 3: Was released yesterday.

705
00:37:21,880 --> 00:37:25,440
Speaker 2: A builder confidence in the market for newly built single

706
00:37:25,600 --> 00:37:30,720
Speaker 2: family homes rose one point to thirty eight in November. Now,

707
00:37:31,040 --> 00:37:34,800
Speaker 2: when you look at these indexes, according to the data,

708
00:37:35,120 --> 00:37:38,960
Speaker 2: an index, the any index or the index for this

709
00:37:39,239 --> 00:37:43,320
Speaker 2: is based on fifty. Anything over fifty is very good,

710
00:37:43,640 --> 00:37:47,200
Speaker 2: anything under fifty is not so good. And as they

711
00:37:47,239 --> 00:37:50,640
Speaker 2: describe at the index's measurement for builder confidence and the

712
00:37:52,400 --> 00:37:56,799
Speaker 2: new single family home market rose one point to thirty eight,

713
00:37:57,120 --> 00:38:02,080
Speaker 2: but remains in deeply negative territory. An index really reading

714
00:38:02,080 --> 00:38:07,600
Speaker 2: below fifty indicates that more builders view conditions as more

715
00:38:07,719 --> 00:38:11,080
Speaker 2: view as poor than good, is what I'm trying to

716
00:38:11,280 --> 00:38:15,360
Speaker 2: spit out here. So as far as their overall assessment

717
00:38:15,480 --> 00:38:19,040
Speaker 2: of the conditions, now, what could be the conditions on that?

718
00:38:19,480 --> 00:38:23,640
Speaker 3: Could it possibly be interest rates? Maybe?

719
00:38:23,840 --> 00:38:28,560
Speaker 2: So anyway, getting into this report, current sales conditions increased

720
00:38:28,600 --> 00:38:32,560
Speaker 2: two points to forty one. Sales expectations in the next

721
00:38:32,640 --> 00:38:36,800
Speaker 2: six months fell three points to fifty one, but still

722
00:38:36,840 --> 00:38:42,600
Speaker 2: above that fifty range. Traffic of perspective buyers posted a

723
00:38:42,719 --> 00:38:46,680
Speaker 2: one point game to twenty six, a further sign of

724
00:38:46,760 --> 00:38:50,680
Speaker 2: ongoing challenges in the housing market. The latest eight HMI

725
00:38:51,360 --> 00:38:55,640
Speaker 2: Housing Market Index survey also revealed that forty one percent

726
00:38:55,719 --> 00:38:59,720
Speaker 2: of builders reported cutting prices in November, a record high

727
00:38:59,800 --> 00:39:02,680
Speaker 2: in the post COVID period and the first time this

728
00:39:02,800 --> 00:39:05,320
Speaker 2: measure has passed forty percent.

729
00:39:05,719 --> 00:39:06,040
Speaker 3: Now.

730
00:39:06,320 --> 00:39:11,080
Speaker 2: In defense of that a little bit, during the COVID times, yes,

731
00:39:11,200 --> 00:39:13,480
Speaker 2: there were not very many well, there were some houses

732
00:39:13,520 --> 00:39:16,759
Speaker 2: that were moving in the markets, but a lot of

733
00:39:16,800 --> 00:39:19,560
Speaker 2: people were jumping into the housing market because of the

734
00:39:19,560 --> 00:39:22,440
Speaker 2: boost that they were getting from the stimulus checks.

735
00:39:22,680 --> 00:39:23,920
Speaker 3: A lot of people who were.

736
00:39:23,800 --> 00:39:26,560
Speaker 2: Still working were getting kind of like a little icing

737
00:39:26,600 --> 00:39:29,360
Speaker 2: on the cake there and thought, well, we're going to

738
00:39:29,440 --> 00:39:32,160
Speaker 2: improve our home, see if we can sell it and

739
00:39:32,200 --> 00:39:36,000
Speaker 2: then maybe move in upgrade into a bigger home, or

740
00:39:36,280 --> 00:39:38,560
Speaker 2: because we're working from home now and a lot of

741
00:39:38,560 --> 00:39:42,160
Speaker 2: companies shifted to moving to home. In the post pandemic era,

742
00:39:42,440 --> 00:39:45,799
Speaker 2: we saw a boost in housing prices as well as

743
00:39:45,840 --> 00:39:49,319
Speaker 2: housing sales because people were saying, well, what in our

744
00:39:49,360 --> 00:39:52,279
Speaker 2: current living conditions, I need a home office if my

745
00:39:52,360 --> 00:39:55,120
Speaker 2: wife is working or the spouse is working. Also they

746
00:39:55,160 --> 00:39:57,840
Speaker 2: also need a home office to work from. So the

747
00:39:57,920 --> 00:39:59,440
Speaker 2: need to go out and buy a house that with

748
00:39:59,560 --> 00:40:03,040
Speaker 2: the common both people working from home was some of

749
00:40:03,080 --> 00:40:05,720
Speaker 2: the things that was boosting housing prices at that point,

750
00:40:06,080 --> 00:40:09,840
Speaker 2: and the fact that people were moving and buying houses

751
00:40:09,840 --> 00:40:12,640
Speaker 2: and selling houses at that point in time. So again

752
00:40:12,960 --> 00:40:15,879
Speaker 2: this I'm talking about that the post pandemic or post

753
00:40:15,960 --> 00:40:19,920
Speaker 2: plandemic as I refer to it now. In this particular story,

754
00:40:20,000 --> 00:40:22,719
Speaker 2: they talk about sixty five percent of builders reported using

755
00:40:22,760 --> 00:40:27,160
Speaker 2: sales incentives such as mortgage rate buydowns and funds towards

756
00:40:27,320 --> 00:40:32,080
Speaker 2: upgrades and closing costs, a share that's held steadies since September.

757
00:40:32,440 --> 00:40:35,640
Speaker 2: Home builders have been dealing with a sluggish housing market,

758
00:40:36,200 --> 00:40:41,400
Speaker 2: wary consumers, and unknowns around tariffs and construction costs throughout

759
00:40:41,440 --> 00:40:45,160
Speaker 2: twenty twenty five. Well, we've had eleven months now where

760
00:40:45,160 --> 00:40:48,200
Speaker 2: we see where the whole the prices have gone in

761
00:40:48,280 --> 00:40:51,680
Speaker 2: terms of the building materials and so on, and we

762
00:40:51,800 --> 00:40:54,240
Speaker 2: still have that need out there. But as I pointed

763
00:40:54,239 --> 00:40:57,480
Speaker 2: out on this program several times, the fact of when

764
00:40:57,520 --> 00:41:01,080
Speaker 2: you look at at the current interest rate still above

765
00:41:01,120 --> 00:41:03,960
Speaker 2: the six percent. The type of house that you can

766
00:41:04,000 --> 00:41:07,919
Speaker 2: afford at six percent based on your income is far

767
00:41:08,080 --> 00:41:10,400
Speaker 2: less than the type of house that you can afford

768
00:41:10,520 --> 00:41:13,359
Speaker 2: if the interest rate was down around three percent. We've

769
00:41:13,400 --> 00:41:17,120
Speaker 2: run those numbers on this program extensive. We've talked about

770
00:41:17,120 --> 00:41:19,839
Speaker 2: that three or four times on this program. Also, when

771
00:41:19,880 --> 00:41:24,400
Speaker 2: you take into consideration not only the size house that

772
00:41:24,440 --> 00:41:27,840
Speaker 2: you can buy, but what that is going to cost

773
00:41:27,920 --> 00:41:31,080
Speaker 2: you in terms of outlays as far as your mortgage

774
00:41:31,080 --> 00:41:34,000
Speaker 2: is concerned. When you look at the mortgage rate at

775
00:41:34,000 --> 00:41:36,840
Speaker 2: a six percent or a three percent rate versus a

776
00:41:36,880 --> 00:41:40,040
Speaker 2: six percent rate, that fluctuates in terms of your monthly

777
00:41:40,080 --> 00:41:43,960
Speaker 2: payment significantly, and the size house that you can afford

778
00:41:44,480 --> 00:41:46,560
Speaker 2: changes dramatically as a result of that.

779
00:41:46,840 --> 00:41:49,920
Speaker 3: So the key factor here is interest rates.

780
00:41:50,120 --> 00:41:54,560
Speaker 2: Now, in the National Association of Homebuilders a report here

781
00:41:54,760 --> 00:41:58,680
Speaker 2: they point out key factors that can impact the housing

782
00:41:58,760 --> 00:42:03,160
Speaker 2: market index. Top of the list, interest rates have a

783
00:42:03,320 --> 00:42:08,200
Speaker 2: significant impact on the overall housing market condition. When mortgage

784
00:42:08,280 --> 00:42:12,360
Speaker 2: rates are low, housing demand is high. However, when mortgage

785
00:42:12,440 --> 00:42:15,520
Speaker 2: rates are high, it becomes more challenging for many Americans

786
00:42:15,520 --> 00:42:18,400
Speaker 2: to afford a monthly mortgage payment for a home.

787
00:42:18,200 --> 00:42:20,840
Speaker 3: That suits their needs.

788
00:42:21,360 --> 00:42:24,319
Speaker 2: As home prices rise, many would be home buyers are

789
00:42:24,400 --> 00:42:27,840
Speaker 2: pushed to the sidelines, leading to a decreased demand in

790
00:42:27,880 --> 00:42:31,600
Speaker 2: the housing market and a drop in builder sentiment. Maybe

791
00:42:31,640 --> 00:42:35,160
Speaker 2: this should be a course that Drome Powell line. Jerry

792
00:42:35,200 --> 00:42:38,239
Speaker 2: Powell and the Federal Reserve need to hear when they

793
00:42:38,239 --> 00:42:41,359
Speaker 2: do these interest rates and determine as far as what

794
00:42:41,400 --> 00:42:46,160
Speaker 2: the interest rates are going to be. Illustrating HMI Elevated

795
00:42:46,239 --> 00:42:49,680
Speaker 2: interest rates also impact the cost of borrowing for builders

796
00:42:49,719 --> 00:42:55,000
Speaker 2: and can affect their ability to obtain construction loans, because

797
00:42:55,239 --> 00:42:58,000
Speaker 2: not only does it affect the buyers of these but

798
00:42:58,120 --> 00:43:01,080
Speaker 2: these homebuilders are having to borrow money in order to

799
00:43:01,280 --> 00:43:04,640
Speaker 2: build these homes. So if those prices are up, they're

800
00:43:04,640 --> 00:43:07,200
Speaker 2: more reluctant to sit on the sidelines, or they're more

801
00:43:08,080 --> 00:43:11,879
Speaker 2: likely to sit on the sidelines as well. Record number

802
00:43:11,920 --> 00:43:14,279
Speaker 2: of home builders are cutting prices. They talk about that

803
00:43:14,400 --> 00:43:18,080
Speaker 2: sixty five percent of builders reported using sales incentives. Home

804
00:43:18,080 --> 00:43:21,640
Speaker 2: builders have been dealing with sluggish economy and worry consumers

805
00:43:21,680 --> 00:43:24,600
Speaker 2: and so on, and we've covered all that. So again,

806
00:43:24,800 --> 00:43:29,160
Speaker 2: I can't emphasize enough what these homebuilding prices are, what

807
00:43:29,880 --> 00:43:33,080
Speaker 2: the interest rates are, and with lower interest rate. What

808
00:43:33,280 --> 00:43:35,840
Speaker 2: that would do to the economy, not only in the

809
00:43:36,000 --> 00:43:40,680
Speaker 2: home building sector, but also anybody in a trucking industry

810
00:43:40,880 --> 00:43:43,840
Speaker 2: planning on buying a truck, adding trucks to a fleet,

811
00:43:43,880 --> 00:43:47,640
Speaker 2: if it's a more than one person operation, expanding and

812
00:43:47,800 --> 00:43:52,480
Speaker 2: manufacturing facility, expanding a business, or so on. That all

813
00:43:52,560 --> 00:43:55,799
Speaker 2: requires money. And if you're building onto your business or

814
00:43:55,800 --> 00:43:58,600
Speaker 2: you're adding equipment, you're going to have to finance that,

815
00:43:58,880 --> 00:44:01,160
Speaker 2: and that's going to cost you money. I want to

816
00:44:01,160 --> 00:44:02,920
Speaker 2: say I went in the show with a kind of

817
00:44:02,920 --> 00:44:07,680
Speaker 2: a very interesting I found this story extremely interesting. This

818
00:44:07,880 --> 00:44:10,960
Speaker 2: past Saturday, Now this is probably going to be the

819
00:44:10,960 --> 00:44:13,839
Speaker 2: one and only time I ever talked about Saturday Night Live.

820
00:44:14,080 --> 00:44:17,120
Speaker 2: This past Saturday, Glenn Powell had a special guest in

821
00:44:17,120 --> 00:44:21,000
Speaker 2: the audience when he hosted Saturday Night Live. During his

822
00:44:21,080 --> 00:44:23,960
Speaker 2: opening monologue, the Running Man star revealed that he was

823
00:44:24,000 --> 00:44:28,319
Speaker 2: originally supposed to host SNL four years ago, tied to

824
00:44:28,360 --> 00:44:31,640
Speaker 2: the original premier date of Top Gun Maverick. He and

825
00:44:31,680 --> 00:44:34,680
Speaker 2: his family were celebrating when he got a call to host,

826
00:44:35,040 --> 00:44:39,440
Speaker 2: a moment they shared with their ups driver, who happened

827
00:44:39,440 --> 00:44:42,799
Speaker 2: to be delivering a package at the same time. So

828
00:44:42,920 --> 00:44:45,719
Speaker 2: we all took a selfie with him, and this is

829
00:44:45,760 --> 00:44:48,759
Speaker 2: the selfie to mark the occasion. Powell held up the

830
00:44:49,120 --> 00:44:52,000
Speaker 2: picture of revealing the actual selfie of him and his

831
00:44:52,040 --> 00:44:54,680
Speaker 2: family and the UPS Driver. But then my dreams got

832
00:44:54,719 --> 00:44:58,560
Speaker 2: taken away, he continued. Top Gun got delayed because of COVID.

833
00:44:59,320 --> 00:45:03,400
Speaker 2: Due to SNL had to take back their offer. Lorne

834
00:45:03,440 --> 00:45:07,440
Speaker 2: Michaels literally called me and said, without top Gun, and

835
00:45:07,520 --> 00:45:11,080
Speaker 2: these are his words, no one will know who the

836
00:45:11,400 --> 00:45:16,080
Speaker 2: fu are. Powell lamented that over the past four years,

837
00:45:16,080 --> 00:45:18,840
Speaker 2: the UPS Driver might have thought that he was a liar,

838
00:45:19,200 --> 00:45:22,240
Speaker 2: so when he got the call to host SNL again,

839
00:45:22,600 --> 00:45:25,439
Speaker 2: he and his family decided to make things right. As

840
00:45:25,480 --> 00:45:29,440
Speaker 2: he talks about, my sisters tracked him down. The women

841
00:45:29,560 --> 00:45:33,239
Speaker 2: and my family are terrifying, he joked. They found the

842
00:45:33,280 --> 00:45:35,920
Speaker 2: cell number of the UPS guy. His name is Mitch.

843
00:45:36,239 --> 00:45:38,440
Speaker 2: So to prove to Mitch that I'm not a liar,

844
00:45:38,760 --> 00:45:40,000
Speaker 2: I flew him all.

845
00:45:39,840 --> 00:45:40,879
Speaker 3: The way to New York.

846
00:45:41,200 --> 00:45:43,919
Speaker 2: He thought it was a scam, but he still came

847
00:45:44,120 --> 00:45:47,560
Speaker 2: and he's sitting in the audience tonight. Powell then called

848
00:45:47,600 --> 00:45:51,640
Speaker 2: Mitch on stage and the two snapping another selfie together

849
00:45:51,760 --> 00:45:54,480
Speaker 2: to bring things to a full circle for the driver

850
00:45:54,680 --> 00:45:57,600
Speaker 2: and the whole Powell clan. I had to wait my

851
00:45:57,800 --> 00:46:00,920
Speaker 2: entire life plus four years to be here, said, but

852
00:46:01,080 --> 00:46:04,160
Speaker 2: if I have learned anything it's that the best thing

853
00:46:04,200 --> 00:46:07,440
Speaker 2: in lives don't happen overnight, and no one knows that

854
00:46:07,840 --> 00:46:09,680
Speaker 2: better than ups.

855
00:46:10,239 --> 00:46:13,040
Speaker 3: Folks that doesn't for us. Stay tuned for Retie Radio

856
00:46:13,040 --> 00:46:13,719
Speaker 3: A Top the Hour.

857
00:46:14,000 --> 00:46:22,759
Speaker 2: I'm Kevin Gordon, America struck a Network seven hundred WLW.

858
00:46:20,560 --> 00:46:27,520
Speaker 11: News Traffic and Weather News Radio seven hundred WLW Cincinnati.

859
00:46:28,480 --> 00:46:31,799
Speaker 7: Progress made on the bill to release the Fsteam files.

860
00:46:31,920 --> 00:46:34,319
Speaker 7: But if your Top of the hour reports, I'm Lee

861
00:46:34,400 --> 00:46:35,400
Speaker 7: Mawing breaking Dow