1 00:00:03,080 --> 00:00:05,880 Speaker 1: This is America's Truncking Network with Kevin Gordon. 2 00:00:08,039 --> 00:00:11,520 Speaker 2: Welcome aboard, thanks for tuning in on this Thursday morning. 3 00:00:12,280 --> 00:00:17,319 Speaker 2: Who says nothing good happens after midnight. Apparently people that 4 00:00:17,360 --> 00:00:20,280 Speaker 2: aren't listening to America's struck a network that I can 5 00:00:20,360 --> 00:00:25,640 Speaker 2: tell you. Hurricane Melissa is still turning away in the Atlantic. 6 00:00:26,239 --> 00:00:26,840 Speaker 3: And what is. 7 00:00:26,800 --> 00:00:31,560 Speaker 2: Interesting is that as it hit Jamaica, which the devastation 8 00:00:31,680 --> 00:00:35,279 Speaker 2: there is incredible, and again hearts and prayers go out 9 00:00:35,280 --> 00:00:39,360 Speaker 2: to the folks there. Once it crossed over Jamaica, it 10 00:00:39,440 --> 00:00:43,200 Speaker 2: was going about nine miles per hour and it has 11 00:00:43,360 --> 00:00:46,560 Speaker 2: gone it has increased in speed about five times. It's 12 00:00:46,600 --> 00:00:49,760 Speaker 2: now up around forty five to fifty miles per hour 13 00:00:50,080 --> 00:00:57,120 Speaker 2: moving towards actually went through Haiti, went through the southeastern yes, 14 00:00:57,240 --> 00:01:01,800 Speaker 2: the southeastern portion of Cuba, Guantana Obey, and it's barreling 15 00:01:01,840 --> 00:01:05,160 Speaker 2: its way up to the Bahamas, which will hit probably 16 00:01:05,240 --> 00:01:09,320 Speaker 2: later on today into tonight. So this is a fast 17 00:01:09,360 --> 00:01:12,920 Speaker 2: moving storm. But the trajectory of this is still where 18 00:01:12,959 --> 00:01:16,960 Speaker 2: it's veering off away from the coast of the United States, 19 00:01:17,000 --> 00:01:19,080 Speaker 2: so we're not going to get a direct hit there, 20 00:01:19,560 --> 00:01:21,880 Speaker 2: but it's going to be veering off to the northeast 21 00:01:22,080 --> 00:01:25,240 Speaker 2: from that point. But what we've been seeing in our 22 00:01:25,400 --> 00:01:29,960 Speaker 2: outlying storm surges, and especially along the North Carolina coast. 23 00:01:30,000 --> 00:01:32,600 Speaker 2: You remember a couple of weeks ago we had what 24 00:01:32,760 --> 00:01:36,440 Speaker 2: was it about twelve structures that fell because of the 25 00:01:36,440 --> 00:01:38,800 Speaker 2: storm surges. They're out there on the you know, they're 26 00:01:38,800 --> 00:01:43,840 Speaker 2: out there on the beaches, basically on stilts. Supposed to 27 00:01:43,920 --> 00:01:46,959 Speaker 2: take into consideration that when the storm surges come in, 28 00:01:47,280 --> 00:01:51,240 Speaker 2: that they're high enough to withstand that. But apparently the 29 00:01:51,360 --> 00:01:54,280 Speaker 2: amount of water and the amount of the waves hitting 30 00:01:54,320 --> 00:01:59,360 Speaker 2: those structures hit, those stilts broke and those houses collapsed, 31 00:01:59,360 --> 00:02:02,560 Speaker 2: about twelve of them. There's been an additional four that 32 00:02:02,600 --> 00:02:07,760 Speaker 2: were lost just this past well overnight. It was there 33 00:02:07,800 --> 00:02:12,200 Speaker 2: around I think it was a Hatteras Island, Derek County, Buxton, 34 00:02:12,320 --> 00:02:15,960 Speaker 2: North Carolina. The four structures that came down were actually 35 00:02:16,000 --> 00:02:20,400 Speaker 2: in Buxton, North Carolina. So again we're not getting direct hits. 36 00:02:21,360 --> 00:02:25,600 Speaker 2: Up to this point, we've lost what sixteen structures compared 37 00:02:25,639 --> 00:02:28,120 Speaker 2: to what would have had what has happened in the 38 00:02:28,480 --> 00:02:32,400 Speaker 2: hurricane seasons over the last few years. That is remarkable 39 00:02:32,480 --> 00:02:35,000 Speaker 2: and hopefully our good luck will continue. 40 00:02:35,360 --> 00:02:38,760 Speaker 3: The Federal Reserve Lion Jerry Powell and. 41 00:02:39,280 --> 00:02:42,800 Speaker 2: The fellas, ladies and gentlemen, I should say, lowered interest 42 00:02:42,880 --> 00:02:46,160 Speaker 2: rates by a quarter percentage point. Now, I was waiting 43 00:02:46,200 --> 00:02:50,560 Speaker 2: for the report at noon or at two o'clock generally 44 00:02:50,840 --> 00:02:52,840 Speaker 2: they do their meeting and they come out at two 45 00:02:52,880 --> 00:02:56,440 Speaker 2: o'clock and Lion Jerry Powell steps up to the microphone 46 00:02:56,480 --> 00:02:59,720 Speaker 2: and gives his spiel as to why they did or 47 00:02:59,760 --> 00:03:02,560 Speaker 2: did not cut interest rates or what they're doing and 48 00:03:02,600 --> 00:03:05,680 Speaker 2: their explanation behind that. He actually ran a little bit 49 00:03:05,760 --> 00:03:09,360 Speaker 2: late yesterday, didn't come out until about ten after two, 50 00:03:10,000 --> 00:03:14,160 Speaker 2: which is kind of unusual. And what was interesting is well, 51 00:03:14,200 --> 00:03:16,760 Speaker 2: actually it was interesting some of the things that were 52 00:03:16,840 --> 00:03:22,160 Speaker 2: said but not said as well. And it's funny. You 53 00:03:22,240 --> 00:03:25,280 Speaker 2: know where I've stood on this for the entire year. 54 00:03:25,480 --> 00:03:28,280 Speaker 2: I think interest rates should be down at least by 55 00:03:28,400 --> 00:03:32,079 Speaker 2: a full percentage point at this point. That started the 56 00:03:32,160 --> 00:03:34,880 Speaker 2: year off at round five percent. For four and a 57 00:03:34,920 --> 00:03:37,800 Speaker 2: half to five percent, I think it should still. I 58 00:03:37,840 --> 00:03:40,640 Speaker 2: should think it should be down at four percent or 59 00:03:40,680 --> 00:03:45,880 Speaker 2: below already, and then another quarter percentage point reduced this time, 60 00:03:46,160 --> 00:03:49,160 Speaker 2: because that is the thing, in my opinion, that's holding 61 00:03:49,200 --> 00:03:52,080 Speaker 2: back the economy. From day one, we kept hearing from 62 00:03:52,120 --> 00:03:55,400 Speaker 2: the Federal Reserve that they're reluctant to lower interest rates 63 00:03:55,440 --> 00:03:58,680 Speaker 2: because they won the inflation rate down around two percent. 64 00:03:59,040 --> 00:04:01,880 Speaker 2: We pointed out on the program that when they talk 65 00:04:01,960 --> 00:04:06,800 Speaker 2: about the Social Security increases, that cost a living allowance 66 00:04:07,000 --> 00:04:09,800 Speaker 2: that comes through every year, that's based on what the 67 00:04:09,880 --> 00:04:13,920 Speaker 2: inflation rate is that year. That has averaged since two 68 00:04:13,960 --> 00:04:18,760 Speaker 2: thousand two point six percent, So around over the last 69 00:04:18,800 --> 00:04:22,760 Speaker 2: twenty five years, the average inflation rate has been two 70 00:04:22,839 --> 00:04:26,760 Speaker 2: point six percent. Why the Federal Reserve has suddenly targeted 71 00:04:26,800 --> 00:04:30,040 Speaker 2: two percent and said that the inflation rate should be 72 00:04:30,080 --> 00:04:33,240 Speaker 2: around two percent when history says it's around two point 73 00:04:33,320 --> 00:04:36,719 Speaker 2: six percent has always puzzled me. Plus the fact that 74 00:04:36,800 --> 00:04:39,440 Speaker 2: when you take into consideration when we look at the 75 00:04:39,480 --> 00:04:42,360 Speaker 2: different contracts that have gone through. I've spelled that out 76 00:04:42,360 --> 00:04:46,839 Speaker 2: on this program, and numerous times we've had major contracts 77 00:04:47,640 --> 00:04:52,320 Speaker 2: signed by the UAW, major contracts signed by the railroad workers, 78 00:04:52,640 --> 00:04:55,719 Speaker 2: major contracts by both the East Coast and the West 79 00:04:55,720 --> 00:05:00,160 Speaker 2: Coast dock workers, and then we've had railroad and UPS, Yes, 80 00:05:00,560 --> 00:05:04,240 Speaker 2: UPS signed a big contract. So you've got these wages 81 00:05:04,320 --> 00:05:07,200 Speaker 2: that have gone up tremendously. As a matter of fact, 82 00:05:07,440 --> 00:05:09,919 Speaker 2: they talked about that the wage increase, as far as 83 00:05:10,120 --> 00:05:13,560 Speaker 2: UAW is concerned, would increase the price of a car 84 00:05:13,600 --> 00:05:14,799 Speaker 2: by nine hundred dollars. 85 00:05:15,279 --> 00:05:18,520 Speaker 3: We started seeing the other day. It was a couple 86 00:05:18,560 --> 00:05:19,120 Speaker 3: of weeks ago. 87 00:05:19,279 --> 00:05:21,760 Speaker 2: We were talking about the inflation having to do with cars, 88 00:05:21,960 --> 00:05:24,120 Speaker 2: and they were saying, well, because of terraffs in this 89 00:05:24,200 --> 00:05:26,599 Speaker 2: blah blah blah blah blah, that the price of a 90 00:05:26,640 --> 00:05:30,479 Speaker 2: car has gone up, averaged up nine hundred dollars. And 91 00:05:30,520 --> 00:05:34,440 Speaker 2: I said, WHOA, pull the reins back on that, folks. 92 00:05:34,600 --> 00:05:36,839 Speaker 2: Let's go back to the story that was talked about 93 00:05:36,839 --> 00:05:40,360 Speaker 2: when that contract was signed, that it would add about 94 00:05:40,440 --> 00:05:41,360 Speaker 2: nine hundred. 95 00:05:41,080 --> 00:05:42,479 Speaker 3: Dollars to the cost of the vehicle. 96 00:05:42,760 --> 00:05:45,280 Speaker 2: So all this a lot of times, what we're seeing 97 00:05:45,640 --> 00:05:51,120 Speaker 2: is that people are blaming cost increases on tariffs as 98 00:05:51,120 --> 00:05:56,279 Speaker 2: opposed to cost increases based on salaries and wages. Wage 99 00:05:56,320 --> 00:06:00,479 Speaker 2: increases we talked about just yesterday, we had talking about 100 00:06:00,480 --> 00:06:03,920 Speaker 2: a story out of Chicago talking about this person who 101 00:06:03,960 --> 00:06:07,120 Speaker 2: owns these coffee shops and the price of coffee and 102 00:06:07,200 --> 00:06:10,279 Speaker 2: having to raise her prices by fifteen percent, and she's 103 00:06:10,320 --> 00:06:13,080 Speaker 2: talking about terrorists and all this. Yet when you look 104 00:06:13,080 --> 00:06:16,159 Speaker 2: at the minimum wage in Chicago, it has gone from 105 00:06:16,360 --> 00:06:20,280 Speaker 2: ten dollars an hour in twenty twenty up to sixteen 106 00:06:20,400 --> 00:06:24,120 Speaker 2: dollars and sixty cents now, and it just went up 107 00:06:24,120 --> 00:06:27,680 Speaker 2: in July. So everybody seems to be forgeting about it. 108 00:06:28,000 --> 00:06:31,279 Speaker 2: And again I'm not talking I'm not saying that people 109 00:06:31,480 --> 00:06:37,120 Speaker 2: don't deserve pay increases, but pay increases are increases. 110 00:06:37,360 --> 00:06:40,560 Speaker 3: And if the products that you're selling. 111 00:06:40,200 --> 00:06:43,719 Speaker 2: The products that you are providing are the cost of that. 112 00:06:43,880 --> 00:06:47,760 Speaker 2: Built into that are salaries and wages. If wages go up, 113 00:06:48,040 --> 00:06:51,080 Speaker 2: your cost go up. If your cost go up, you're 114 00:06:51,120 --> 00:06:54,760 Speaker 2: going to pass those costs along to your customers. And 115 00:06:54,839 --> 00:06:59,359 Speaker 2: so be be honest about it and quit this business. 116 00:06:59,480 --> 00:07:03,520 Speaker 2: This is almost like going back to right after the pandemic. 117 00:07:03,960 --> 00:07:07,200 Speaker 2: Remember all the stuff talking about supply chains. Now there 118 00:07:07,240 --> 00:07:11,400 Speaker 2: were different supply chain issues. Because you can't stop an economy. 119 00:07:11,640 --> 00:07:15,200 Speaker 2: You can't shut down every manufacturing facility in the country, 120 00:07:15,520 --> 00:07:18,760 Speaker 2: you can't close up every business that's around, shut down 121 00:07:18,840 --> 00:07:22,520 Speaker 2: every restaurant, and then gear up and snap your fingers 122 00:07:22,520 --> 00:07:25,680 Speaker 2: and everything goes back to normal. There is a gearing up. 123 00:07:25,720 --> 00:07:27,920 Speaker 2: You're going to have to build supplies. You're going to 124 00:07:28,000 --> 00:07:30,960 Speaker 2: have to go into these factories and start from scratch, 125 00:07:31,200 --> 00:07:35,000 Speaker 2: put the raw materials together, process that and get it available. 126 00:07:35,200 --> 00:07:38,880 Speaker 2: So there were supply chain issues being able to supply 127 00:07:39,440 --> 00:07:43,720 Speaker 2: what people were wanting, the whole thing in different service areas. 128 00:07:43,760 --> 00:07:46,520 Speaker 2: I've talked about that on this program numerous times. The 129 00:07:46,600 --> 00:07:49,320 Speaker 2: fact that we may recall when you went into the 130 00:07:49,320 --> 00:07:52,200 Speaker 2: stores there were hardly in employees in there, and it 131 00:07:52,240 --> 00:07:54,440 Speaker 2: was tough to find somebody or find some help to 132 00:07:54,480 --> 00:08:00,440 Speaker 2: find anything. Customer service was at a premium because had 133 00:08:00,440 --> 00:08:03,120 Speaker 2: been laid off, they were slow to well, they couldn't 134 00:08:03,160 --> 00:08:06,480 Speaker 2: rehire some of the people. And because of the stimulus 135 00:08:06,560 --> 00:08:09,920 Speaker 2: checks that were being made available and then the state 136 00:08:10,000 --> 00:08:14,400 Speaker 2: unemployment payments that were going out, people were saying, I 137 00:08:14,560 --> 00:08:17,520 Speaker 2: can't afford to go back to work. I'm making too 138 00:08:17,680 --> 00:08:21,960 Speaker 2: much staying at home getting stimulus checks and unemployment from 139 00:08:21,960 --> 00:08:25,320 Speaker 2: the state. So that should have been backed off a 140 00:08:25,400 --> 00:08:28,640 Speaker 2: little bit quicker so that people got back into the workforce. 141 00:08:28,840 --> 00:08:30,440 Speaker 3: So we had supply chain issues. 142 00:08:30,560 --> 00:08:33,360 Speaker 2: We had problems with employees being hired and being able 143 00:08:33,400 --> 00:08:36,200 Speaker 2: to service, but everybody blamed it on supply chain issues, 144 00:08:36,520 --> 00:08:38,640 Speaker 2: when in fact it was just a matter of the 145 00:08:38,800 --> 00:08:42,040 Speaker 2: system gearing up and the employees being available. Same thing 146 00:08:42,080 --> 00:08:44,640 Speaker 2: with these tariffs, all we keep all we've been hearing 147 00:08:44,720 --> 00:08:51,160 Speaker 2: since Liberation Day on April second, that inflation was going 148 00:08:51,200 --> 00:08:54,400 Speaker 2: to go out of control. People were predicting recession. People 149 00:08:54,480 --> 00:08:56,680 Speaker 2: were talking about inflation was going to be in the 150 00:08:57,720 --> 00:09:02,440 Speaker 2: high single digits. And inflation has been below three percent 151 00:09:02,559 --> 00:09:05,760 Speaker 2: since then. And every time the inflation rate comes out 152 00:09:05,760 --> 00:09:08,280 Speaker 2: and they say, well, it's below three percent, it's gone up. 153 00:09:08,320 --> 00:09:10,480 Speaker 2: It's crept up from two point six to two point 154 00:09:10,480 --> 00:09:13,400 Speaker 2: seven or maybe two point seven to two point whatever 155 00:09:13,480 --> 00:09:16,760 Speaker 2: it's been, it's been below three percent. And every time 156 00:09:16,880 --> 00:09:19,600 Speaker 2: they talk about this inflation rate, they say, well, but 157 00:09:19,720 --> 00:09:23,840 Speaker 2: the effect of tariffs will be coming on later on. Well, 158 00:09:24,480 --> 00:09:29,839 Speaker 2: you're now talking about from from basically April, May, June, July, August, September, October. 159 00:09:30,080 --> 00:09:32,120 Speaker 2: You know, you keep saying that this is gonna happen, 160 00:09:32,200 --> 00:09:35,560 Speaker 2: gonna happen, gonna happen, and it hasn't happened, and yet 161 00:09:35,600 --> 00:09:37,640 Speaker 2: people keep saying, well, it's gonna happen. 162 00:09:38,040 --> 00:09:38,720 Speaker 3: We'll pick this up. 163 00:09:38,760 --> 00:09:41,480 Speaker 2: I got some of the comments that Lion Jerry Powell 164 00:09:41,520 --> 00:09:45,840 Speaker 2: said about during his press conference. I'm Kevin Gordon, America's 165 00:09:45,840 --> 00:09:49,360 Speaker 2: struck a network seven hundred WLW. 166 00:09:50,679 --> 00:09:53,640 Speaker 1: I love this is the briefing report on America's drug 167 00:09:53,720 --> 00:09:56,160 Speaker 1: A Network on seven hundred WLW. 168 00:09:57,000 --> 00:09:59,880 Speaker 4: The Infinity Series Champion will be crowded Saturday night and 169 00:10:00,040 --> 00:10:04,079 Speaker 4: Phoenix Connors, Zilich, Carson Gwaffle, Also, Justin Olgeyer and Jesse 170 00:10:04,200 --> 00:10:07,760 Speaker 4: Love are in the Exfinity Final four. Danny Hamlin, who 171 00:10:07,760 --> 00:10:10,320 Speaker 4: will run for the Cup Series twenty twenty five titles 172 00:10:10,400 --> 00:10:13,199 Speaker 4: Sunday on Dirty Will Media, on his pick for the 173 00:10:13,280 --> 00:10:14,479 Speaker 4: Exfinity champ. 174 00:10:14,280 --> 00:10:17,640 Speaker 5: The seven car last year was very, very dominant. You 175 00:10:17,679 --> 00:10:19,640 Speaker 5: gotta think he's going to be pretty tough again, but 176 00:10:19,679 --> 00:10:21,560 Speaker 5: you also got the eighty eight. I think it's still 177 00:10:21,559 --> 00:10:24,600 Speaker 5: going to be a close one. Justin's experience at Phoenix 178 00:10:24,679 --> 00:10:28,280 Speaker 5: will counter whatever success the eighty eight has had throughout 179 00:10:28,320 --> 00:10:30,480 Speaker 5: the season, and so I think that's going to be 180 00:10:30,480 --> 00:10:33,319 Speaker 5: a one A, one B type of race, and then 181 00:10:33,440 --> 00:10:37,360 Speaker 5: Jesse will be right there near them, and then Carson 182 00:10:37,679 --> 00:10:39,720 Speaker 5: is going to need to find some speed. Who's your pick? 183 00:10:39,760 --> 00:10:42,079 Speaker 5: Then I'll give the nod to Justin. His car is 184 00:10:42,120 --> 00:10:43,920 Speaker 5: going to be just as prepared as the eighty eight. 185 00:10:44,000 --> 00:10:45,640 Speaker 5: He's not going to get beat on equipment. 186 00:10:45,720 --> 00:10:47,360 Speaker 3: Remember last year, all the mistakes he had and to 187 00:10:47,400 --> 00:10:50,600 Speaker 3: still come back and Yeah, they're lightning fast. Justin's my pick. 188 00:10:50,880 --> 00:10:54,319 Speaker 4: Sam Meyer has been suspended by NASCAR from Saturday's Exfinity 189 00:10:54,400 --> 00:10:57,320 Speaker 4: Series race in Phoenix after wrecking Jeb Burton on the 190 00:10:57,320 --> 00:11:00,920 Speaker 4: cool down lap last weekend at Martinsville. Alig Racing will 191 00:11:00,920 --> 00:11:04,800 Speaker 4: pause its Exfinity Series program for the twenty twenty six season. 192 00:11:05,080 --> 00:11:08,360 Speaker 4: Since debuting in the series full time in twenty sixteen, 193 00:11:08,880 --> 00:11:12,560 Speaker 4: Colleague has won twenty seven races and ten seasons, including 194 00:11:12,559 --> 00:11:16,200 Speaker 4: a pair of regular season championships from aj Allmendinger in 195 00:11:16,280 --> 00:11:18,160 Speaker 4: twenty twenty one and twenty twenty two. 196 00:11:19,600 --> 00:11:23,000 Speaker 1: This is the racing report on America's drugging network on 197 00:11:23,160 --> 00:11:25,320 Speaker 1: seven hundred WLW. 198 00:11:25,400 --> 00:11:29,600 Speaker 4: Sake Dennis for reporting for a t N. 199 00:11:30,600 --> 00:11:34,960 Speaker 2: Progressive Commercial Insurance protects truck owners with specialized coverages for 200 00:11:35,040 --> 00:11:35,680 Speaker 2: heavy drugs. 201 00:11:35,840 --> 00:11:38,200 Speaker 3: Insure commercial vehicles from pickup trucks. 202 00:11:38,280 --> 00:11:42,280 Speaker 2: Vance Trek was basically from the New York Times. Federal 203 00:11:42,320 --> 00:11:45,000 Speaker 2: Reserve cut interest rates for the second time this year 204 00:11:45,040 --> 00:11:48,720 Speaker 2: on Wednesday, despite officials having only a partial view of 205 00:11:48,720 --> 00:11:53,160 Speaker 2: how the economy is faring because of the shutdown. The 206 00:11:53,400 --> 00:11:56,640 Speaker 2: Central Bank voted the lower barring caused by a quarter 207 00:11:56,640 --> 00:12:00,840 Speaker 2: percentage point down to three point seven three point to 208 00:12:00,920 --> 00:12:05,080 Speaker 2: four percent. Wednesday's decision, which brought interest rates below four 209 00:12:05,200 --> 00:12:08,400 Speaker 2: percent for the first time since late twenty twenty two, 210 00:12:08,920 --> 00:12:12,840 Speaker 2: was a divisive one. Two officials descended for different reasons. 211 00:12:12,920 --> 00:12:13,560 Speaker 3: Stephen I. 212 00:12:14,040 --> 00:12:17,560 Speaker 2: Marin the newest member of the FED. He's also part 213 00:12:17,600 --> 00:12:20,800 Speaker 2: of the Trump administration. He was appointed a FED. He 214 00:12:20,840 --> 00:12:24,520 Speaker 2: wanted to see a half a percentage point decrease, which 215 00:12:25,000 --> 00:12:28,240 Speaker 2: basically is agreeing with Kevin Gordon from americastruck a network. 216 00:12:29,160 --> 00:12:31,240 Speaker 2: I think the interest rate should have been down at 217 00:12:31,320 --> 00:12:35,200 Speaker 2: least a half a percentage point. Let me see was 218 00:12:35,200 --> 00:12:38,360 Speaker 2: calling for a half percent interest rate reduction like he 219 00:12:38,360 --> 00:12:39,239 Speaker 2: did in September. 220 00:12:39,440 --> 00:12:40,319 Speaker 3: Jeffrey R. 221 00:12:40,440 --> 00:12:43,800 Speaker 2: Schmid, president of the Federal Reserve Bank of Kansas City, 222 00:12:44,080 --> 00:12:47,280 Speaker 2: one of the Federal Reserve, instead to hold interest rate 223 00:12:47,360 --> 00:12:50,840 Speaker 2: steady at the previous level of four percent to four 224 00:12:50,880 --> 00:12:55,480 Speaker 2: point twenty five percent. Is this guy smoking crack or something? 225 00:12:56,320 --> 00:13:00,200 Speaker 2: Doesn't he Every time we talk about every time we 226 00:13:00,280 --> 00:13:01,720 Speaker 2: hear about stuff. 227 00:13:01,760 --> 00:13:04,640 Speaker 3: I mean, we've had stories. Over the last couple of weeks. 228 00:13:04,760 --> 00:13:08,440 Speaker 2: We had what was the number eighty one The number 229 00:13:08,520 --> 00:13:12,040 Speaker 2: of people refinancing their homes went up eighty one percent 230 00:13:12,600 --> 00:13:17,480 Speaker 2: in the month of September because of the interest rates 231 00:13:17,480 --> 00:13:20,240 Speaker 2: on home loans coming down. We just had the story 232 00:13:20,320 --> 00:13:24,240 Speaker 2: the other day talking about that the number of houses 233 00:13:24,400 --> 00:13:28,400 Speaker 2: that were sold went up one point five percent, that 234 00:13:28,440 --> 00:13:32,760 Speaker 2: they're on track to sell over four million homes existing homes, 235 00:13:33,320 --> 00:13:37,160 Speaker 2: and what's going on there because of interest rates coming 236 00:13:37,160 --> 00:13:40,720 Speaker 2: down a half a percentage point. This is the thing 237 00:13:40,760 --> 00:13:44,600 Speaker 2: that spurs the economy. Anybody talking about adding a piece 238 00:13:44,640 --> 00:13:48,840 Speaker 2: of equipment, Anybody talking about adding a new truck, fleets 239 00:13:49,200 --> 00:13:52,959 Speaker 2: expanding their number of trucks that they are interested in. 240 00:13:53,600 --> 00:13:56,400 Speaker 2: Somebody wanting to buy a piece of equipment, somebody wanting 241 00:13:56,440 --> 00:13:58,839 Speaker 2: to jump into the new home market. It is all 242 00:13:58,880 --> 00:14:01,880 Speaker 2: based on interest rates and what your cost of doing 243 00:14:01,920 --> 00:14:05,640 Speaker 2: that would be. Now, again, I will stress that you 244 00:14:05,800 --> 00:14:08,360 Speaker 2: need to sit down between now and the end of 245 00:14:08,400 --> 00:14:12,240 Speaker 2: the year with your accountant, your tax attorney, or whoever 246 00:14:12,320 --> 00:14:15,319 Speaker 2: you get your tax advice. And if you don't, if 247 00:14:15,320 --> 00:14:18,520 Speaker 2: you're not getting tax advice from somebody, pay the couple 248 00:14:18,559 --> 00:14:21,520 Speaker 2: one hundred dollars or so to get the proper advice. 249 00:14:21,840 --> 00:14:22,920 Speaker 3: Because there is. 250 00:14:22,880 --> 00:14:27,120 Speaker 2: That Section one seventy nine deduction that is available for 251 00:14:27,200 --> 00:14:32,280 Speaker 2: new equipment. You can deduct in a single year up 252 00:14:32,360 --> 00:14:36,560 Speaker 2: to one million, two hundred and fifty thousand dollars in 253 00:14:36,800 --> 00:14:41,720 Speaker 2: purchases off of your income, lower your your prop Basically 254 00:14:41,760 --> 00:14:45,240 Speaker 2: on paper, it's a paper number, it's not cash, but 255 00:14:45,360 --> 00:14:49,000 Speaker 2: it shows a negative a loss for the year. You 256 00:14:49,000 --> 00:14:52,920 Speaker 2: would actually not be paying taxes on that. So look 257 00:14:53,000 --> 00:14:55,720 Speaker 2: at you know it's a it's a straight deduction off 258 00:14:55,720 --> 00:14:58,280 Speaker 2: your tax return. And if you're getting this one point 259 00:14:58,360 --> 00:15:00,720 Speaker 2: two five million dollars, now you know if you're buy 260 00:15:00,760 --> 00:15:03,240 Speaker 2: a piece of equipment for two hundred and forty five 261 00:15:03,280 --> 00:15:07,000 Speaker 2: thousand or one hundred and eight whatever that equipment is, 262 00:15:07,280 --> 00:15:10,480 Speaker 2: that is fully deductible in the first year. Now you 263 00:15:10,560 --> 00:15:12,680 Speaker 2: have to weigh that off. And again you need to 264 00:15:12,720 --> 00:15:15,840 Speaker 2: sit down with attorney or somebody that prepares taxes and 265 00:15:15,880 --> 00:15:18,600 Speaker 2: somebody knows what the hell they're talking about for your 266 00:15:18,680 --> 00:15:21,720 Speaker 2: individual situation. I can't tell you what to do for 267 00:15:21,800 --> 00:15:25,800 Speaker 2: your individual situation other than go talk to somebody about 268 00:15:25,840 --> 00:15:28,880 Speaker 2: what you have, how you do things. So you need 269 00:15:28,920 --> 00:15:32,960 Speaker 2: to weigh the possibility of purchasing a new truck or 270 00:15:33,000 --> 00:15:36,120 Speaker 2: a new piece of equipment based on what your maintenance 271 00:15:36,160 --> 00:15:38,760 Speaker 2: costs are up to this point, because if your truck 272 00:15:38,880 --> 00:15:41,520 Speaker 2: is off the road, you're not earning any income, So 273 00:15:41,560 --> 00:15:44,040 Speaker 2: you got to factor that into it. Plus you also 274 00:15:44,080 --> 00:15:47,120 Speaker 2: have to factor in what your maintenance costs are going 275 00:15:47,160 --> 00:15:49,320 Speaker 2: to be, and then you have to balance that off 276 00:15:49,360 --> 00:15:51,400 Speaker 2: what the interest rate on a new truck would be 277 00:15:51,400 --> 00:15:53,880 Speaker 2: if you're borrowing that, But then what that would do 278 00:15:53,960 --> 00:15:56,440 Speaker 2: to your year's income in terms of taking that as 279 00:15:56,480 --> 00:15:59,320 Speaker 2: a deduction off your taxes and what you would be 280 00:15:59,320 --> 00:16:01,160 Speaker 2: saying saying as far as taxes. 281 00:16:01,360 --> 00:16:04,040 Speaker 3: But again you need to sit down with your. 282 00:16:03,960 --> 00:16:06,840 Speaker 2: Tax accountant, with somebody that knows what they're doing as 283 00:16:06,840 --> 00:16:11,360 Speaker 2: far as your individual situation and make that decision. So again, 284 00:16:11,600 --> 00:16:14,160 Speaker 2: interest rates are an important factor out there, and that 285 00:16:14,320 --> 00:16:16,400 Speaker 2: is what's holding a lot of people back from neither 286 00:16:16,480 --> 00:16:19,680 Speaker 2: jumping into the housing market, jumping into buying a new truck, 287 00:16:20,000 --> 00:16:22,720 Speaker 2: buying a new car, or anything along those lines, any 288 00:16:22,720 --> 00:16:25,000 Speaker 2: of the major purchases. But again getting back to the 289 00:16:25,040 --> 00:16:28,920 Speaker 2: line Jerry Powell and his statement. In his policy statement, 290 00:16:28,960 --> 00:16:32,000 Speaker 2: the Fed seemed to adopt a rosier view of the 291 00:16:32,160 --> 00:16:36,640 Speaker 2: economic activity, but stressed that the labor market remained vulnerable. 292 00:16:37,480 --> 00:16:42,120 Speaker 2: He has been downplaying the economy all year long, even 293 00:16:42,200 --> 00:16:46,080 Speaker 2: though the information on a regular basis when they do 294 00:16:46,200 --> 00:16:50,120 Speaker 2: retail sales, when they talk about a earlier in the 295 00:16:50,200 --> 00:16:53,000 Speaker 2: year when they were talking about the number of jobs created, 296 00:16:53,240 --> 00:16:55,840 Speaker 2: the number of jobs lost, or any of that sort 297 00:16:55,880 --> 00:16:56,320 Speaker 2: of stuff. 298 00:16:57,080 --> 00:16:58,640 Speaker 3: Every how many times do. 299 00:16:58,640 --> 00:17:04,159 Speaker 2: We hear that retail sales beat expectations, new car sales 300 00:17:04,440 --> 00:17:09,320 Speaker 2: beat expectations, and the economy has been turning along again 301 00:17:09,480 --> 00:17:13,119 Speaker 2: because of the resilience of the American public and because 302 00:17:13,119 --> 00:17:16,000 Speaker 2: of the American consumer. Some of these things are going 303 00:17:16,040 --> 00:17:20,199 Speaker 2: on despite what the people in Washington and some of 304 00:17:20,240 --> 00:17:23,080 Speaker 2: the pressure that they've put on us, and especially the 305 00:17:23,160 --> 00:17:26,400 Speaker 2: overburden of interest rates that the Federal Reserve has created. 306 00:17:26,720 --> 00:17:29,719 Speaker 2: We are resilient people, and we have bounced back, and 307 00:17:29,760 --> 00:17:33,040 Speaker 2: we are doing everything we can to spur this economy along. 308 00:17:33,320 --> 00:17:36,879 Speaker 2: And it's remarkable that he says, well, the economy was 309 00:17:37,040 --> 00:17:40,760 Speaker 2: expanding at a moderate pace and that the unemployment rate 310 00:17:40,920 --> 00:17:44,000 Speaker 2: was still low. It's stressed that the downside risk to 311 00:17:44,080 --> 00:17:48,160 Speaker 2: employment rose in recent months. Typically, the FED ques off 312 00:17:48,160 --> 00:17:53,120 Speaker 2: the incoming official data to help justify its interest rate decision, 313 00:17:53,400 --> 00:17:58,280 Speaker 2: while also citing alternate measures and surveys related to economic activity. 314 00:17:58,560 --> 00:18:02,080 Speaker 2: But the shutdown has effectedctively created a data blackout for 315 00:18:02,160 --> 00:18:05,600 Speaker 2: the FED, at least from the government sources. Bureau of 316 00:18:05,640 --> 00:18:09,399 Speaker 2: Labor Statistics released the Consumer Price Index report for September 317 00:18:09,800 --> 00:18:14,880 Speaker 2: over a week late, back this past Friday, in order 318 00:18:14,920 --> 00:18:17,959 Speaker 2: to meet the deadline for Social Security costs of living adjustments, 319 00:18:18,119 --> 00:18:20,400 Speaker 2: but that is likely to be the last major data 320 00:18:20,480 --> 00:18:24,359 Speaker 2: release by the agency for a while. And again I 321 00:18:24,440 --> 00:18:29,960 Speaker 2: have stressed even though during the government shutdown, the Goldman, Sachs, JP, 322 00:18:30,119 --> 00:18:32,520 Speaker 2: Morgan and now all of a sudden city group and 323 00:18:32,560 --> 00:18:35,440 Speaker 2: what is it nationwide have been able to gather the 324 00:18:35,520 --> 00:18:39,640 Speaker 2: unemployment the initial jobless claims that have been filed at 325 00:18:39,640 --> 00:18:42,800 Speaker 2: the individual state levels. They've been able to tap into that, 326 00:18:43,240 --> 00:18:46,080 Speaker 2: find out what that is, and produce their own report, 327 00:18:46,400 --> 00:18:48,880 Speaker 2: so they're not waiting on the government for those reports. 328 00:18:49,080 --> 00:18:51,879 Speaker 2: The Federal Reserve has I'm going to stress this again, 329 00:18:52,240 --> 00:18:58,879 Speaker 2: the Federal Reserve has twenty three thousand employees. Twenty three 330 00:18:59,400 --> 00:19:06,360 Speaker 2: thousand employees. My question is is we keep hearing that? Okay, 331 00:19:06,680 --> 00:19:10,640 Speaker 2: when Trump was talking about wanting to replace lion Jerry Powell, 332 00:19:11,280 --> 00:19:14,240 Speaker 2: and people were saying, well, if he does that, that 333 00:19:15,200 --> 00:19:18,600 Speaker 2: will change the dynamic and it will make the Federal 334 00:19:18,640 --> 00:19:22,920 Speaker 2: Reserve no longer an independent agency, which is a load 335 00:19:22,960 --> 00:19:24,760 Speaker 2: of crap, because. 336 00:19:24,440 --> 00:19:25,959 Speaker 3: Every member of the Board. 337 00:19:26,119 --> 00:19:29,440 Speaker 2: Every member of the Federal Reserve has been appointed by 338 00:19:29,560 --> 00:19:34,720 Speaker 2: a president, and so whether it's appointed by Biden, whether 339 00:19:34,760 --> 00:19:37,240 Speaker 2: it was appointed by Trump in his first term or 340 00:19:37,480 --> 00:19:41,000 Speaker 2: now in his second term, these people are people that 341 00:19:41,160 --> 00:19:44,919 Speaker 2: are leaning more towards whoever is in office. 342 00:19:44,520 --> 00:19:46,040 Speaker 3: At that particular point in time. 343 00:19:46,359 --> 00:19:49,040 Speaker 2: And apparently a lot of these people that were appointed 344 00:19:49,119 --> 00:19:53,000 Speaker 2: during the Biden administration seem to be not very with 345 00:19:53,080 --> 00:19:56,640 Speaker 2: it in terms of the economic data. And so what 346 00:19:56,640 --> 00:20:00,600 Speaker 2: we're seeing is that supposedly they're supposed to be independent, 347 00:20:00,840 --> 00:20:04,919 Speaker 2: but if they're being appointed by the administration that's in office, 348 00:20:05,080 --> 00:20:05,720 Speaker 2: it's by. 349 00:20:05,640 --> 00:20:07,440 Speaker 3: Nature going to be political. 350 00:20:07,840 --> 00:20:10,080 Speaker 2: You're not going to put somebody in there that is 351 00:20:10,160 --> 00:20:15,240 Speaker 2: going to wreck or to put a throw a monkey 352 00:20:15,280 --> 00:20:17,919 Speaker 2: wrench into the cogs of the wheel that you're. 353 00:20:17,800 --> 00:20:19,359 Speaker 3: Trying to do to build the economy. 354 00:20:19,600 --> 00:20:21,560 Speaker 2: So of course they're going to be leaning one way 355 00:20:21,640 --> 00:20:24,720 Speaker 2: or the other, and to pretend that they're not is insane. 356 00:20:25,080 --> 00:20:28,360 Speaker 2: But the fact is they got twenty three thousand employees. 357 00:20:29,080 --> 00:20:30,800 Speaker 3: These employees could be. 358 00:20:30,920 --> 00:20:33,840 Speaker 2: Looking at some of this economic data and coming up 359 00:20:33,840 --> 00:20:36,920 Speaker 2: with these numbers, and if in fact they are independent, 360 00:20:37,320 --> 00:20:41,280 Speaker 2: wouldn't they be more likely to have the proper data 361 00:20:41,640 --> 00:20:44,919 Speaker 2: than bureaucrats in Washington who are far removed. 362 00:20:44,920 --> 00:20:46,639 Speaker 3: Because let's remember, you. 363 00:20:46,720 --> 00:20:50,320 Speaker 2: Got the Federal Reserve that has twelve different agencies or 364 00:20:50,359 --> 00:20:54,560 Speaker 2: twelve different locations throughout the country, and you have Washington 365 00:20:54,760 --> 00:20:58,160 Speaker 2: that is one location, and they being out in the market, 366 00:20:58,200 --> 00:21:03,439 Speaker 2: in Atlanta, in Denver, in Cincinnati, and a bunch of 367 00:21:03,480 --> 00:21:07,840 Speaker 2: other cities Chicago, they are closer to the people. They 368 00:21:07,920 --> 00:21:10,719 Speaker 2: are closer. They got members there that are aware of 369 00:21:10,760 --> 00:21:13,639 Speaker 2: what's going on in those particular territories and would be 370 00:21:13,680 --> 00:21:16,280 Speaker 2: able to better report what's going on in those regions 371 00:21:16,440 --> 00:21:18,480 Speaker 2: to come up with a good idea in terms of 372 00:21:18,520 --> 00:21:20,840 Speaker 2: what's going on as far as the economy. That's just 373 00:21:20,920 --> 00:21:23,679 Speaker 2: my opinion, and you know I have an opinion, and 374 00:21:23,680 --> 00:21:26,119 Speaker 2: I'm not afraid to use it. I'm Kevin Gordon, America 375 00:21:26,160 --> 00:21:32,080 Speaker 2: struck In Network seven hundred WLW. 376 00:21:30,160 --> 00:21:37,879 Speaker 6: News Traffic and Weather News Radio seven hundred WLW, Cincinnati. 377 00:21:38,080 --> 00:21:42,119 Speaker 7: Friendly Words in Bussan Trump and She talk trade and 378 00:21:42,359 --> 00:21:46,720 Speaker 7: fantastic relations with your twelve thirty report. I'm Travis Laird 379 00:21:46,800 --> 00:21:50,320 Speaker 7: breaking now. The two presidents met in South Korea to 380 00:21:50,359 --> 00:21:54,080 Speaker 7: talk tariff's security and what both called a crucial partnership. 381 00:21:54,640 --> 00:21:58,600 Speaker 3: We will be having some discussions. I think we've already 382 00:21:58,600 --> 00:22:01,280 Speaker 3: agreed to a lot of things. We'll agree to some 383 00:22:01,440 --> 00:22:02,320 Speaker 3: more right now. 384 00:22:03,240 --> 00:22:07,920 Speaker 4: But President she is a great leader of a great country. 385 00:22:08,160 --> 00:22:11,600 Speaker 4: I think we're gonna have a fantastic relationship for a 386 00:22:11,640 --> 00:22:12,640 Speaker 4: long period of time. 387 00:22:12,840 --> 00:22:14,879 Speaker 7: The White House says the meeting was warm, but the 388 00:22:14,920 --> 00:22:17,400 Speaker 7: real test comes when trade talks resume. 389 00:22:18,160 --> 00:22:21,320 Speaker 6: Now the ladies forecast from a train heating and Cooling 390 00:22:21,359 --> 00:22:25,000 Speaker 6: weather center on news radio seven hundred WLW. 391 00:22:25,960 --> 00:22:28,639 Speaker 8: As we head for our Thursday morning, we'll continue to 392 00:22:28,680 --> 00:22:31,720 Speaker 8: see rain heavy at times right into the morning rush. 393 00:22:32,359 --> 00:22:35,640 Speaker 8: I have a seven am temperature of forty five. Now 394 00:22:35,680 --> 00:22:39,000 Speaker 8: for the rest of our Thursday, a few showers tapering 395 00:22:39,040 --> 00:22:42,240 Speaker 8: off though, and gusty wins a high of fifty one 396 00:22:42,440 --> 00:22:45,680 Speaker 8: at night, gradual clearing a low down to thirty nine. 397 00:22:46,119 --> 00:22:49,320 Speaker 8: Looks good for trick or treat. From your severe weather station, 398 00:22:49,760 --> 00:22:54,480 Speaker 8: I'm nine first Warning Chief Meteorologist Steve Rawley, News Radio 399 00:22:54,640 --> 00:22:56,480 Speaker 8: seven hundred WLW. 400 00:22:56,760 --> 00:23:00,119 Speaker 7: Right now, forty seven degrees in Cincinnati and rain in 401 00:23:00,200 --> 00:23:03,840 Speaker 7: just about every direction. Meals on Wheels is expanding its 402 00:23:03,840 --> 00:23:05,960 Speaker 7: reach in the tri State, breaking ground on a new 403 00:23:06,000 --> 00:23:10,080 Speaker 7: headquarters in Columbia Township that will triple services for local seniors. 404 00:23:10,320 --> 00:23:13,919 Speaker 7: The thirty million dollar facility will combine two existing locations 405 00:23:13,960 --> 00:23:17,560 Speaker 7: and expand capacity from ten thousand to thirty thousand older 406 00:23:17,600 --> 00:23:20,960 Speaker 7: adults each year. Leaders say it will feature a bigger, 407 00:23:21,000 --> 00:23:24,199 Speaker 7: safer kitchen and a covered area for drivers to load meals, 408 00:23:24,200 --> 00:23:28,560 Speaker 7: boosting output to three million annually. The nonprofit has already 409 00:23:28,640 --> 00:23:31,520 Speaker 7: raised more than twenty four million dollars for the project. 410 00:23:31,640 --> 00:23:35,560 Speaker 7: And now, Lee Mawen, let's talk about sports. Buddy seven 411 00:23:35,600 --> 00:23:38,719 Speaker 7: one hundred WLW sports. 412 00:23:38,800 --> 00:23:42,280 Speaker 9: Bengals quarterback Joe Flacco dealing with an ac joint sprain 413 00:23:42,400 --> 00:23:44,919 Speaker 9: in his throwing shoulder and is fifty to fifty to 414 00:23:44,920 --> 00:23:49,479 Speaker 9: play Sunday along with Flacko, Trey Hendrickson, Logan Wilson, Marco Wilson, 415 00:23:49,480 --> 00:23:53,359 Speaker 9: and Dalton Reisner did not practice Wednesday. Bengals host the 416 00:23:53,359 --> 00:23:57,040 Speaker 9: Bears Sunday afternoon one the number seventeen you see, Bearcats 417 00:23:57,080 --> 00:24:00,200 Speaker 9: will be without running back Evan Pryor for the aim 418 00:24:00,240 --> 00:24:01,200 Speaker 9: at number twenty four. 419 00:24:01,359 --> 00:24:01,679 Speaker 3: Utah. 420 00:24:02,080 --> 00:24:05,080 Speaker 9: Kick off is at ten fifteen Saturday night. Red's have 421 00:24:05,160 --> 00:24:08,280 Speaker 9: outright and relief pitcher Ian Jabou at Triple A Louisville. 422 00:24:08,359 --> 00:24:10,560 Speaker 9: He had a four point six two era and twenty 423 00:24:10,560 --> 00:24:12,080 Speaker 9: five appearances last season. 424 00:24:12,359 --> 00:24:14,720 Speaker 7: Thank you as always, Lee Mallen. You'll hear from Lee 425 00:24:14,800 --> 00:24:18,119 Speaker 7: again at one o'clock. Breaking news anytime. I'm Travis Laird. 426 00:24:18,200 --> 00:24:20,639 Speaker 7: News Radio seven hundred wl W. 427 00:24:21,240 --> 00:24:25,000 Speaker 5: As a party and you backing the free iHeartRadio app 428 00:24:25,040 --> 00:24:27,639 Speaker 5: live radio playlists for everything in the most podcasts. 429 00:24:34,240 --> 00:24:36,600 Speaker 10: Here's your trucking forecast for the Try State and the 430 00:24:36,640 --> 00:24:38,960 Speaker 10: rest of the country. In the Try State, overnight rain 431 00:24:39,040 --> 00:24:42,120 Speaker 10: the low down to forty six rain continues Thursday, which 432 00:24:42,160 --> 00:24:44,399 Speaker 10: will come to an end during the early afternoon hours. 433 00:24:44,440 --> 00:24:47,360 Speaker 10: A high fifty one Friday, mostly sunny as we dry out, 434 00:24:47,359 --> 00:24:50,600 Speaker 10: A high fifty six, partly sunny Saturday. Highs again top 435 00:24:50,640 --> 00:24:53,560 Speaker 10: out in the upper fifties. Nationally, rain is moving from 436 00:24:53,600 --> 00:24:56,399 Speaker 10: the mid Atlantic and Ohio Valley into the northeast. In 437 00:24:56,480 --> 00:25:02,600 Speaker 10: the northwest, late rain will move in Friday seven. 438 00:25:02,440 --> 00:25:05,560 Speaker 3: Under w l W. I'm Kevin Gordon. This is America 439 00:25:05,600 --> 00:25:06,399 Speaker 3: Struck a network. 440 00:25:06,640 --> 00:25:09,960 Speaker 2: I'm going through this policy statement from Lion Jerry Powell 441 00:25:10,000 --> 00:25:13,040 Speaker 2: and the Federal Reserve. Jerome Powell, the Federal Reserve Chairman, 442 00:25:13,040 --> 00:25:16,120 Speaker 2: has acknowledged that this is a risky strategy that could 443 00:25:16,200 --> 00:25:20,199 Speaker 2: result in the central Bank either inadvertently fueling inflation or 444 00:25:20,240 --> 00:25:23,240 Speaker 2: causing undue harm to the labor market. And better back 445 00:25:23,320 --> 00:25:26,800 Speaker 2: up and talk about the previous paragraph. Federal Reserve decision 446 00:25:26,800 --> 00:25:29,720 Speaker 2: to lower interest rates again on Wednesday reflects the central 447 00:25:29,720 --> 00:25:32,159 Speaker 2: banks belief that it can afford to focus on the 448 00:25:32,240 --> 00:25:35,680 Speaker 2: risk confronting the labor market and take steps to shore 449 00:25:35,720 --> 00:25:38,639 Speaker 2: it up, even though inflation is moving away from the 450 00:25:38,680 --> 00:25:41,920 Speaker 2: two percent target. That's where it, said Jerome Powell, saying 451 00:25:41,920 --> 00:25:45,000 Speaker 2: this is risky. Before the shutdown, monthly jobs growth had 452 00:25:45,040 --> 00:25:48,760 Speaker 2: slowed sharply and the unemployment rate had edged up. Some 453 00:25:48,800 --> 00:25:52,240 Speaker 2: companies like Amazon have announced big layoffs, and the concern 454 00:25:52,320 --> 00:25:55,440 Speaker 2: that more will follow the government shutdown and self represents 455 00:25:55,480 --> 00:25:58,480 Speaker 2: a new risk to the economy so far consumed, Now 456 00:25:58,520 --> 00:26:04,000 Speaker 2: get this. So far consumers have continued to spend helping 457 00:26:04,080 --> 00:26:07,320 Speaker 2: to alleviate the concerns that the economy is on the 458 00:26:07,480 --> 00:26:13,480 Speaker 2: verge of a significant downturn. That resilience has persisted even 459 00:26:13,520 --> 00:26:17,439 Speaker 2: as the President's tariffs have written. Now again, mind you, 460 00:26:17,720 --> 00:26:20,240 Speaker 2: this is an article that's written by the New York Times, 461 00:26:20,280 --> 00:26:22,720 Speaker 2: So there's going to be a little a bubble or 462 00:26:22,760 --> 00:26:26,239 Speaker 2: two left of center in terms of their reporting that 463 00:26:26,359 --> 00:26:29,800 Speaker 2: resilience has persisted even though the President's tariffs has raised 464 00:26:29,840 --> 00:26:32,800 Speaker 2: prices for a range of goods, even though that's not 465 00:26:32,840 --> 00:26:36,960 Speaker 2: reflected in the consumer price index, but you know, they 466 00:26:37,000 --> 00:26:38,720 Speaker 2: have to throw that in there because that's what they've 467 00:26:38,720 --> 00:26:41,520 Speaker 2: been told to write. The overall impact has so far 468 00:26:41,640 --> 00:26:46,200 Speaker 2: been more muted than expected, however, bolstering a widely held 469 00:26:46,280 --> 00:26:49,800 Speaker 2: view within the FED that inflationary pressures tied to those 470 00:26:49,880 --> 00:26:55,280 Speaker 2: levees will fade over time. What has concerned some policymakers, however, 471 00:26:55,440 --> 00:26:59,639 Speaker 2: is that the services inflation, which tracks prices for things 472 00:26:59,760 --> 00:27:04,920 Speaker 2: like aircuts, car insurance, has stayed sticky. If that persists, 473 00:27:04,960 --> 00:27:07,840 Speaker 2: it will take longer for the FED to wrestle inflation 474 00:27:08,400 --> 00:27:13,440 Speaker 2: back down services section, who has been talking about inflation 475 00:27:13,720 --> 00:27:17,600 Speaker 2: in the services sector for the last two months, digging 476 00:27:17,720 --> 00:27:21,520 Speaker 2: into the inflation numbers the way I have, I have 477 00:27:21,640 --> 00:27:25,159 Speaker 2: looked at that and said, okay, we've seen the bulk 478 00:27:25,280 --> 00:27:28,679 Speaker 2: of this inflation for the consumer price index in the 479 00:27:28,720 --> 00:27:32,000 Speaker 2: services area. It first popped up a couple of months 480 00:27:32,040 --> 00:27:36,120 Speaker 2: ago because we had a resurgence in the stock market. 481 00:27:36,359 --> 00:27:39,879 Speaker 2: Remember after Liberation Day on April to second, the stock 482 00:27:39,960 --> 00:27:44,800 Speaker 2: market took a dramatic downturn. The Pannikins as they were 483 00:27:44,800 --> 00:27:47,119 Speaker 2: calling them at the time, were getting out of the 484 00:27:47,160 --> 00:27:51,320 Speaker 2: stock market, and the smart people were saying, this is 485 00:27:51,359 --> 00:27:54,160 Speaker 2: the time to buy, this is the time to get 486 00:27:54,240 --> 00:27:57,280 Speaker 2: back into the market. Just since the first of the 487 00:27:57,359 --> 00:27:59,520 Speaker 2: year of the stock market the other day I heard 488 00:27:59,880 --> 00:28:02,439 Speaker 2: is up just since the beginning of the year. This 489 00:28:02,520 --> 00:28:06,480 Speaker 2: is the beginning, not taking into consideration the downturn in April, 490 00:28:06,880 --> 00:28:09,120 Speaker 2: so anybody that would have jumped in back then would 491 00:28:09,119 --> 00:28:11,359 Speaker 2: have done even better. But just since the first of 492 00:28:11,359 --> 00:28:15,360 Speaker 2: the year, the stock market is up thirty six percent. 493 00:28:16,320 --> 00:28:20,080 Speaker 2: Let that sink in for a moment. Thirty six percent. 494 00:28:20,720 --> 00:28:23,960 Speaker 2: And the fact that when you look at the every time, 495 00:28:24,560 --> 00:28:27,359 Speaker 2: like day after day, they are hitting record highs. And 496 00:28:27,400 --> 00:28:31,560 Speaker 2: we're not talking about record highs for the week, month, year, 497 00:28:31,920 --> 00:28:37,000 Speaker 2: We're talking about overall for the history of the stock market, 498 00:28:37,400 --> 00:28:42,200 Speaker 2: they are hitting record highs. And so that and anybody 499 00:28:42,280 --> 00:28:44,800 Speaker 2: that's got a four h one K, anybody that's got 500 00:28:44,880 --> 00:28:49,080 Speaker 2: some sort of an IRA or anything invested in the 501 00:28:49,080 --> 00:28:52,600 Speaker 2: stock market through mutual funds or whatever, you're benefiting by this. 502 00:28:52,960 --> 00:28:56,000 Speaker 2: Your pensions are tied to that if you are part 503 00:28:56,040 --> 00:28:58,320 Speaker 2: of a pension, And so the fact that that's doing 504 00:28:58,360 --> 00:29:01,240 Speaker 2: well means that things going well as far as your 505 00:29:01,280 --> 00:29:04,760 Speaker 2: portfolio is concerned. But what was going on at the 506 00:29:04,800 --> 00:29:08,520 Speaker 2: time two months ago is that service inflation was way 507 00:29:08,600 --> 00:29:12,440 Speaker 2: up about five percent for that particular and what happened 508 00:29:12,520 --> 00:29:16,080 Speaker 2: was they looked well. According to the data digging into it, 509 00:29:16,120 --> 00:29:20,000 Speaker 2: is that the rise happened to be from the fees 510 00:29:20,200 --> 00:29:24,720 Speaker 2: charged by stockbrokers and in the investment community. And that's 511 00:29:24,800 --> 00:29:28,360 Speaker 2: not a matter of them raising their prices. It's a 512 00:29:28,360 --> 00:29:31,840 Speaker 2: matter of the volume going in. Their prices are the same. 513 00:29:32,040 --> 00:29:34,640 Speaker 2: They've just got more people coming in and wanting to 514 00:29:34,680 --> 00:29:38,840 Speaker 2: get part of the jumping into the stock market and 515 00:29:38,920 --> 00:29:42,040 Speaker 2: being able to benefit from the increases in the stock market. 516 00:29:42,360 --> 00:29:44,800 Speaker 2: So they've got a larger volume of people coming in, 517 00:29:45,080 --> 00:29:47,720 Speaker 2: so there's more fees. So if you look at the 518 00:29:47,760 --> 00:29:49,840 Speaker 2: fees one month versus the other, and you got a 519 00:29:49,880 --> 00:29:53,120 Speaker 2: ton of people jumping in with the same fee, but 520 00:29:53,240 --> 00:29:55,480 Speaker 2: you're doubling and tripling the number of people that are 521 00:29:55,560 --> 00:29:59,040 Speaker 2: being charged that fee, that number shoots up tremendously. And 522 00:29:59,080 --> 00:30:00,880 Speaker 2: when you compare that for one month or the other, 523 00:30:01,080 --> 00:30:04,040 Speaker 2: that's where you were getting that discrepancy. And in here 524 00:30:04,240 --> 00:30:07,440 Speaker 2: again I talked about this last month. I talked about 525 00:30:07,440 --> 00:30:09,600 Speaker 2: this the last time we had the consumer Price Index, 526 00:30:09,840 --> 00:30:12,959 Speaker 2: and now suddenly the Federal Reserve is talking about this, 527 00:30:13,120 --> 00:30:15,960 Speaker 2: and the New York Times is recognizing that, which, by 528 00:30:16,000 --> 00:30:18,440 Speaker 2: the way, I should remind you that if you listen 529 00:30:18,480 --> 00:30:22,080 Speaker 2: to Federal, if you listen to the American Truck and Network, 530 00:30:22,320 --> 00:30:23,960 Speaker 2: you're going to be so far ahead of the curve 531 00:30:24,160 --> 00:30:26,360 Speaker 2: they're not even going to see your tail lights. Because 532 00:30:26,480 --> 00:30:32,040 Speaker 2: now finally they're talking about being concerned about prices increases 533 00:30:32,280 --> 00:30:34,640 Speaker 2: in the service sector for haircuts. 534 00:30:34,680 --> 00:30:36,520 Speaker 3: Car insurance have stayed sticky. 535 00:30:36,880 --> 00:30:39,600 Speaker 2: Now the last time I checked, the barber up the 536 00:30:39,600 --> 00:30:43,200 Speaker 2: street is not being affected by terraffs. The car insurance 537 00:30:43,320 --> 00:30:45,440 Speaker 2: is not being affected by terraffs. I don't think you 538 00:30:45,520 --> 00:30:49,040 Speaker 2: have to import car insurance from another country and pay 539 00:30:49,080 --> 00:30:51,560 Speaker 2: a tariff on that that is based on what they're 540 00:30:51,640 --> 00:30:54,200 Speaker 2: charging now that may be up as a result of 541 00:30:54,400 --> 00:30:58,400 Speaker 2: when you see some of these car prices and the 542 00:30:58,480 --> 00:31:01,960 Speaker 2: replacement parts on them going up, and the insurance company 543 00:31:02,000 --> 00:31:05,600 Speaker 2: is raising premium because the repairs are so much higher. 544 00:31:05,640 --> 00:31:08,000 Speaker 2: And plus the fact that you've got all these COVID 545 00:31:08,320 --> 00:31:11,560 Speaker 2: crazies out there that are causing more accidents out there 546 00:31:11,720 --> 00:31:14,880 Speaker 2: and the number of accidents are increasing because somewhere along 547 00:31:14,880 --> 00:31:17,520 Speaker 2: the line, people forgot how to drive and they're getting 548 00:31:17,520 --> 00:31:21,720 Speaker 2: a little bit more crazy. But again, these things are 549 00:31:21,720 --> 00:31:25,000 Speaker 2: not being affected by terrafs. And if you're talking about 550 00:31:25,080 --> 00:31:28,200 Speaker 2: the service sector, if you're talking about you know, a barber, 551 00:31:28,280 --> 00:31:31,520 Speaker 2: or you're talking about anybody in the service sector, it's 552 00:31:31,560 --> 00:31:34,520 Speaker 2: going to be very tough for those prices to come down. 553 00:31:34,640 --> 00:31:37,880 Speaker 2: You can't just say, oh, all right, I am charging 554 00:31:38,120 --> 00:31:41,959 Speaker 2: you know, twenty dollars for thirty dollars for whatever you're charging, 555 00:31:42,080 --> 00:31:43,440 Speaker 2: and then all of a sudden say I'm going to 556 00:31:43,440 --> 00:31:46,080 Speaker 2: be backing that off by five bucks because you know 557 00:31:46,120 --> 00:31:48,280 Speaker 2: I can afford to. You know, those are the type 558 00:31:48,280 --> 00:31:50,800 Speaker 2: of things they're going to be difficult to bring down. 559 00:31:52,000 --> 00:31:54,880 Speaker 2: Also wednesday, FED said it would stop shrinking in size 560 00:31:54,880 --> 00:31:58,719 Speaker 2: of the the They have bought a bunch of treasuries, 561 00:31:59,280 --> 00:32:01,440 Speaker 2: so they hold a lot of bonds in order to 562 00:32:01,520 --> 00:32:04,200 Speaker 2: prop up the bond market and make sure that our 563 00:32:04,280 --> 00:32:07,400 Speaker 2: credit rating is high. But I thought it was very 564 00:32:07,400 --> 00:32:09,960 Speaker 2: interesting that some of the things that they are finally 565 00:32:10,040 --> 00:32:13,720 Speaker 2: recognizing in here the resilience of the American public, the 566 00:32:13,800 --> 00:32:16,680 Speaker 2: fact that we haven't backed off as far as spending. 567 00:32:17,120 --> 00:32:20,960 Speaker 2: The fact that service sector is now one of the 568 00:32:21,000 --> 00:32:24,719 Speaker 2: stickiest areas as far as trying to control inflation, and 569 00:32:24,760 --> 00:32:26,600 Speaker 2: maybe that's something that they're just going to have to 570 00:32:27,160 --> 00:32:29,600 Speaker 2: back off from and say, you know, people are charging 571 00:32:29,640 --> 00:32:32,800 Speaker 2: more for their services. They're having to there, you know, 572 00:32:33,000 --> 00:32:36,320 Speaker 2: they're having to pay their employees more in order to work, 573 00:32:36,640 --> 00:32:39,400 Speaker 2: so that bumps up their costs and then that has 574 00:32:39,440 --> 00:32:41,080 Speaker 2: to be passed along to their customers. 575 00:32:42,240 --> 00:32:45,440 Speaker 3: We've got to report the other day, and this was. 576 00:32:45,640 --> 00:32:47,920 Speaker 2: Being talked about a lot by a bunch of people, 577 00:32:48,280 --> 00:32:52,080 Speaker 2: the consumer confidence and what is we have there? 578 00:32:52,120 --> 00:32:54,360 Speaker 3: Are we are hearing more and. 579 00:32:54,360 --> 00:32:59,240 Speaker 2: More in the economic numbers and what people are talking about. 580 00:32:59,600 --> 00:33:02,320 Speaker 2: This up about a couple of weeks ago when they 581 00:33:02,320 --> 00:33:08,240 Speaker 2: were talking about the amount of spending that's being done, 582 00:33:08,400 --> 00:33:12,320 Speaker 2: and they talked about how it appears as though that 583 00:33:12,680 --> 00:33:16,680 Speaker 2: the upper income people and when they talk about upper 584 00:33:16,680 --> 00:33:19,920 Speaker 2: income people, the top one percent or two I think 585 00:33:20,000 --> 00:33:23,520 Speaker 2: ten percent is what the number was anybody making you know, 586 00:33:23,720 --> 00:33:26,600 Speaker 2: as a as a household making more than one hundred 587 00:33:26,600 --> 00:33:29,920 Speaker 2: and seventy five thousand dollars a year. Those are the 588 00:33:29,960 --> 00:33:33,360 Speaker 2: people in those areas that are doing a lot of 589 00:33:33,360 --> 00:33:38,000 Speaker 2: the spending, and the part the point of the article 590 00:33:38,240 --> 00:33:44,640 Speaker 2: was that this may be an artificial boost to sales 591 00:33:44,680 --> 00:33:48,440 Speaker 2: and what the spending is doing because the people on 592 00:33:48,480 --> 00:33:52,080 Speaker 2: the lower end, the lower end of the economy are 593 00:33:52,120 --> 00:33:57,080 Speaker 2: not spending on a lot of things. However, the lower 594 00:33:57,160 --> 00:33:59,280 Speaker 2: ends of the economy are still having you know, even 595 00:33:59,360 --> 00:34:03,200 Speaker 2: though they're working paycheck to paycheck, struggling to make ends. Mean, 596 00:34:03,440 --> 00:34:06,360 Speaker 2: they're still buying groceries, they're still buying clothing, They're still 597 00:34:06,400 --> 00:34:10,600 Speaker 2: buying the various necessities. Where this comes into play is 598 00:34:10,640 --> 00:34:15,279 Speaker 2: that with discretionary income for luxury items, for certain other 599 00:34:15,360 --> 00:34:19,960 Speaker 2: things that are not necessarily necessities but are things that 600 00:34:20,000 --> 00:34:23,279 Speaker 2: people may want to have, and that started being talked 601 00:34:23,280 --> 00:34:25,680 Speaker 2: about a couple of days, a couple of weeks ago. 602 00:34:26,040 --> 00:34:29,120 Speaker 2: Now you're seeing a lot of people talk about the 603 00:34:29,120 --> 00:34:33,239 Speaker 2: divergence between the upper income and the lower income, but 604 00:34:33,360 --> 00:34:37,160 Speaker 2: what they're failing to talk about is some of the 605 00:34:37,200 --> 00:34:39,680 Speaker 2: other things. And we'll be bringing that up coming up. 606 00:34:39,719 --> 00:34:45,640 Speaker 2: I'm Kevin Gordon, America's truck in Network seven hundred WLW. 607 00:34:46,480 --> 00:34:51,960 Speaker 6: Rising downtown violence and political pressure have catalyzed the chaos 608 00:34:52,000 --> 00:34:57,720 Speaker 6: regarding the Cincinnati Police chief. While the interim chief steadies 609 00:34:57,760 --> 00:35:00,719 Speaker 6: the ship. Will community leaders turned who had tried and 610 00:35:00,840 --> 00:35:04,400 Speaker 6: true veteran to become police chief permanently? Or will a 611 00:35:04,440 --> 00:35:07,279 Speaker 6: fresh face rise from within the ranks to restore calm 612 00:35:07,360 --> 00:35:11,239 Speaker 6: and credibility. As speculation is swirling, keep it here for 613 00:35:11,320 --> 00:35:14,480 Speaker 6: the latest on seven hundred l Jowutu. 614 00:35:15,160 --> 00:35:17,800 Speaker 1: The thought of my sons growing up without me inspired 615 00:35:17,840 --> 00:35:20,520 Speaker 1: me to quit smoking. I talked to my doctors and 616 00:35:20,560 --> 00:35:23,560 Speaker 1: then I threw away all my cigarettes, ashtros and lighters. 617 00:35:24,040 --> 00:35:26,240 Speaker 6: I started exercising instead of smoking. 618 00:35:26,600 --> 00:35:29,640 Speaker 8: Staying away from alcohol when I was first quitting was key. 619 00:35:30,120 --> 00:35:33,440 Speaker 5: I kept on trying learn something each time, do whatever 620 00:35:33,480 --> 00:35:36,240 Speaker 5: it takes, no matter how many times it takes. 621 00:35:36,640 --> 00:35:37,200 Speaker 7: We did it. 622 00:35:37,360 --> 00:35:40,000 Speaker 6: So can you for free help call one eight hundred 623 00:35:40,080 --> 00:35:42,600 Speaker 6: Quit Now A message from the US Department of Health 624 00:35:42,640 --> 00:35:45,160 Speaker 6: and Human Services and CDC or. 625 00:35:45,239 --> 00:35:46,359 Speaker 5: Twenty twenty five I. 626 00:35:46,280 --> 00:35:52,440 Speaker 2: Heart This is America Struck in Network seven hundred WLWM 627 00:35:52,600 --> 00:35:54,800 Speaker 2: Kevin Gordon. If you missed any part of our previous 628 00:35:54,800 --> 00:35:57,360 Speaker 2: segments ornam our shows hit up that iHeartRadio app and 629 00:35:57,400 --> 00:35:59,440 Speaker 2: of course that's brought to you by our friends at 630 00:35:59,480 --> 00:36:02,480 Speaker 2: Rush Struck Centers. Now talking about the two stages of 631 00:36:02,480 --> 00:36:05,239 Speaker 2: the economy, I mentioned before that people were talking about, well, 632 00:36:05,239 --> 00:36:07,920 Speaker 2: you've got the upper income people, the one hundred and 633 00:36:07,960 --> 00:36:10,880 Speaker 2: seventy five thousand or above household that are spending a 634 00:36:10,920 --> 00:36:13,239 Speaker 2: lot of money, and the people below cutting back on 635 00:36:13,320 --> 00:36:15,960 Speaker 2: their spending or looking for more bargains and so on. 636 00:36:16,440 --> 00:36:19,120 Speaker 2: But the other part of the economy that I believe 637 00:36:19,360 --> 00:36:24,319 Speaker 2: that people are not paying attention to is what I've 638 00:36:24,360 --> 00:36:27,640 Speaker 2: got a story on this coming up that the perception 639 00:36:28,000 --> 00:36:31,719 Speaker 2: or what the spoon fed regurgitators in the means mainstream 640 00:36:31,760 --> 00:36:36,480 Speaker 2: media are talking about versus what's actually happening. Is the 641 00:36:36,520 --> 00:36:40,680 Speaker 2: thing that is surprising talking about consumer confidence report that 642 00:36:40,800 --> 00:36:44,920 Speaker 2: came out and the title here is consumer confidence slips 643 00:36:44,920 --> 00:36:49,480 Speaker 2: to a six month low, worries over job availability rising, 644 00:36:49,760 --> 00:36:53,680 Speaker 2: Americans grow and then another story, Americans grow more uneasy 645 00:36:53,760 --> 00:36:56,919 Speaker 2: about job market and the economy, and they talk about 646 00:36:56,960 --> 00:36:59,520 Speaker 2: what's going on there now digging into. 647 00:36:59,400 --> 00:37:01,520 Speaker 3: This, well, let's just dig into it. 648 00:37:01,920 --> 00:37:04,840 Speaker 2: Us consumer confidence eased to a six month low in 649 00:37:04,880 --> 00:37:08,319 Speaker 2: October amid worries about the availability of jobs and near 650 00:37:08,440 --> 00:37:11,759 Speaker 2: term offering more ammunition for the federal reserve rate cut. 651 00:37:11,760 --> 00:37:13,720 Speaker 2: And of course this was a story that was written 652 00:37:13,760 --> 00:37:18,680 Speaker 2: two days ago. Conference Board survey on Tuesday also confirmed 653 00:37:18,719 --> 00:37:22,759 Speaker 2: that economists described as a case shaped economy, with confidence 654 00:37:22,840 --> 00:37:26,480 Speaker 2: declining among consumers making an annual income of less than 655 00:37:26,560 --> 00:37:30,120 Speaker 2: seventy five thousand, but consumers earning more than two hundred 656 00:37:30,160 --> 00:37:34,720 Speaker 2: thousand a year are more upbeat. Economists argue that high 657 00:37:34,760 --> 00:37:39,800 Speaker 2: income households are keeping the economy afloat through robust consumer spending, 658 00:37:40,080 --> 00:37:43,479 Speaker 2: which is not necessarily true because the lower ends still 659 00:37:43,520 --> 00:37:46,560 Speaker 2: have to buy food, clothing, and so on. Lower income 660 00:37:46,600 --> 00:37:49,720 Speaker 2: households are struggling to make ends meet aid a higher prices, 661 00:37:49,719 --> 00:37:54,040 Speaker 2: including from President Donald Trump's broad tariffs on import Even 662 00:37:54,040 --> 00:37:57,640 Speaker 2: though they can't find inflation as a result of the tariffs, 663 00:37:57,719 --> 00:37:59,840 Speaker 2: they still have to throw that in there. This is 664 00:37:59,880 --> 00:38:03,920 Speaker 2: a guy that I keep seeing and he just infuriates 665 00:38:03,920 --> 00:38:06,680 Speaker 2: me every time I see quotes by him. Christopher Rupke, 666 00:38:06,920 --> 00:38:11,719 Speaker 2: chief economists at Forward Bonds. Consumers are weary, and for 667 00:38:11,840 --> 00:38:15,000 Speaker 2: good reason. The stock market records are not helping them 668 00:38:15,239 --> 00:38:18,239 Speaker 2: get jobs or put food on the table, and with 669 00:38:18,400 --> 00:38:22,680 Speaker 2: store bought goods inflation still rising, many Americans are being 670 00:38:22,760 --> 00:38:26,319 Speaker 2: left behind. In Trump two point zero, well, you know, 671 00:38:26,520 --> 00:38:29,440 Speaker 2: if people are investing in the stock market, which are 672 00:38:29,640 --> 00:38:33,799 Speaker 2: companies and the companies are doing well and they're going 673 00:38:33,880 --> 00:38:37,880 Speaker 2: to have to sell to somebody. So as they increase 674 00:38:38,239 --> 00:38:43,160 Speaker 2: and they start selling things, they are producing more jobs. 675 00:38:43,200 --> 00:38:46,320 Speaker 2: And more jobs mean more people have stuff to spend. 676 00:38:46,719 --> 00:38:50,920 Speaker 2: So you can't downplay the fact that the stock market 677 00:38:50,960 --> 00:38:53,480 Speaker 2: is going up and say that that's not going to 678 00:38:53,520 --> 00:38:57,239 Speaker 2: affect the economy. And when you take into consideration the 679 00:38:57,440 --> 00:39:01,279 Speaker 2: high percentage of people either through four on case or 680 00:39:01,520 --> 00:39:04,920 Speaker 2: through their own private investment, that are invested in the 681 00:39:04,960 --> 00:39:09,640 Speaker 2: stock market in some way or fashion somewhere along the line, 682 00:39:09,719 --> 00:39:13,120 Speaker 2: and so for them to look at this and to 683 00:39:13,520 --> 00:39:17,840 Speaker 2: come to these conclusions, conference boards said it's consumer confidence 684 00:39:17,840 --> 00:39:21,640 Speaker 2: fell to ninety four point six this month, the lowest 685 00:39:21,680 --> 00:39:26,000 Speaker 2: reading since April. Now that would have been true had 686 00:39:26,040 --> 00:39:29,400 Speaker 2: they not paid attention to the previous month. And what 687 00:39:29,520 --> 00:39:32,920 Speaker 2: is interesting is that they are talking about that that 688 00:39:33,440 --> 00:39:38,759 Speaker 2: number was revised from to ninety five point six in 689 00:39:38,800 --> 00:39:43,200 Speaker 2: the previous month, which is interesting because the initial reading 690 00:39:43,440 --> 00:39:45,800 Speaker 2: came out at ninety four point two percent. 691 00:39:46,160 --> 00:39:47,400 Speaker 3: So if they. 692 00:39:47,600 --> 00:39:50,120 Speaker 2: Look at that and say, well, all right, we're down 693 00:39:50,239 --> 00:39:54,120 Speaker 2: the lowest it's been at ninety four from something around 694 00:39:54,200 --> 00:39:56,759 Speaker 2: ninety seven the previous month, and then all of a 695 00:39:56,760 --> 00:40:00,680 Speaker 2: sudden they get more details in. As I've been stressing, 696 00:40:01,040 --> 00:40:03,719 Speaker 2: with these surveys that are out there, there is not 697 00:40:03,880 --> 00:40:06,960 Speaker 2: a date certain where they have to turn this information in, 698 00:40:07,440 --> 00:40:12,400 Speaker 2: and because it's delayed, they whoever is getting the survey 699 00:40:12,600 --> 00:40:16,600 Speaker 2: numbers together and bringing that up, that there's a delay 700 00:40:16,640 --> 00:40:19,720 Speaker 2: in that. That's why there's an adjustment the following month. 701 00:40:20,040 --> 00:40:24,120 Speaker 2: So even though you're getting this consumer confidence number, now, 702 00:40:24,480 --> 00:40:27,520 Speaker 2: this may not be the right consumer confidence because again 703 00:40:28,239 --> 00:40:32,520 Speaker 2: it was at ninety four point two percent, was revised 704 00:40:32,600 --> 00:40:36,560 Speaker 2: up a full percentage point, and then the initial reading 705 00:40:36,640 --> 00:40:41,480 Speaker 2: this time was below that revised number. So we're not 706 00:40:41,680 --> 00:40:45,080 Speaker 2: getting accurate detail. But what they're doing is jumping the 707 00:40:45,200 --> 00:40:49,120 Speaker 2: conclusions in terms of where this consumer confidence number is 708 00:40:49,600 --> 00:40:53,799 Speaker 2: based on, in my opinion, faulty information. And when you're 709 00:40:53,800 --> 00:40:57,359 Speaker 2: doing surveys of people. Again, when you're looking at these things, 710 00:40:57,400 --> 00:41:00,920 Speaker 2: whether it's that Michigan Consumer Sentiment report that comes out 711 00:41:01,200 --> 00:41:03,880 Speaker 2: or this consumer confidence report that comes out by the 712 00:41:03,920 --> 00:41:08,719 Speaker 2: Conference Board US Government, you you don't know what the 713 00:41:08,760 --> 00:41:12,520 Speaker 2: cross section of people that they're what they're surveying. We 714 00:41:12,600 --> 00:41:15,120 Speaker 2: don't know the percentage of independence, we don't know the 715 00:41:15,160 --> 00:41:18,640 Speaker 2: percentage of Republicans, We don't know the percentage of Democrats, 716 00:41:18,880 --> 00:41:21,839 Speaker 2: So depending upon what pool of people they are relying on, 717 00:41:22,200 --> 00:41:25,080 Speaker 2: that gives an indication in terms of where they're getting 718 00:41:25,080 --> 00:41:29,080 Speaker 2: their numbers. And I tripped upon this. It was, you know, 719 00:41:29,120 --> 00:41:30,600 Speaker 2: I do a lot of reading, I do a lot 720 00:41:30,600 --> 00:41:34,160 Speaker 2: of research. I look at a different bunch of different things. 721 00:41:34,719 --> 00:41:37,960 Speaker 2: But I came across upon this thing, and it was, 722 00:41:38,920 --> 00:41:42,520 Speaker 2: if this doesn't explain the as I said, we've got 723 00:41:42,520 --> 00:41:45,879 Speaker 2: two economies. We got the economy that not only they're 724 00:41:45,880 --> 00:41:48,359 Speaker 2: talking about the economy that affects the rich and the poor. 725 00:41:48,480 --> 00:41:51,160 Speaker 3: We've always had that. There's always been a different economy. 726 00:41:51,480 --> 00:41:51,680 Speaker 3: You know. 727 00:41:51,800 --> 00:41:54,920 Speaker 2: Obviously people that have more money, they're got more things 728 00:41:54,920 --> 00:41:57,760 Speaker 2: to spend in terms of vacation and the luxury items 729 00:41:57,800 --> 00:42:00,399 Speaker 2: that they can buy versus the people that are in middle, 730 00:42:00,520 --> 00:42:04,040 Speaker 2: middle class or lower class. So anyway, you've always had 731 00:42:04,080 --> 00:42:07,360 Speaker 2: that going on in the economy. But we've got now 732 00:42:07,680 --> 00:42:10,640 Speaker 2: is a perception between what the government and some of 733 00:42:10,680 --> 00:42:13,560 Speaker 2: these officials are telling us and what the actual people 734 00:42:13,640 --> 00:42:16,440 Speaker 2: are experiencing. And the case in point, I don't know 735 00:42:16,480 --> 00:42:19,440 Speaker 2: if you've seen this guy from I don't know if 736 00:42:19,440 --> 00:42:23,920 Speaker 2: you've seen him, but he's one of these statisticians from CNN, 737 00:42:24,320 --> 00:42:28,000 Speaker 2: and he's really over exuber I mean, he's just he's 738 00:42:28,040 --> 00:42:28,560 Speaker 2: a character. 739 00:42:28,600 --> 00:42:30,880 Speaker 3: I got to tell you. He's kind of entertaining. 740 00:42:31,080 --> 00:42:34,319 Speaker 2: He's really you know, he's arms are flailing and he's 741 00:42:34,440 --> 00:42:37,040 Speaker 2: you know, he's talking about when something goes down. He's 742 00:42:37,040 --> 00:42:39,920 Speaker 2: standing there and he crouches down and goes these numbers 743 00:42:39,960 --> 00:42:42,880 Speaker 2: are way down, and then his voice goes up and 744 00:42:42,880 --> 00:42:45,080 Speaker 2: all the sorts of guys by the name of Harry Enton. 745 00:42:45,840 --> 00:42:48,759 Speaker 2: And what was interesting is that he was talking. And 746 00:42:49,000 --> 00:42:52,359 Speaker 2: what's interesting, Well, back up a little bit. What's been 747 00:42:52,400 --> 00:42:55,120 Speaker 2: interesting is some of the polling numbers that he's come 748 00:42:55,239 --> 00:42:59,759 Speaker 2: up with, where you know, CNN MSNBC have been downplaying 749 00:42:59,800 --> 00:43:04,520 Speaker 2: the economy or downplaying President Trump and the opinion. When 750 00:43:04,560 --> 00:43:08,200 Speaker 2: he does his polling and he shows that all those 751 00:43:08,280 --> 00:43:13,360 Speaker 2: numbers are up where CNN is trying to pull it down. 752 00:43:13,600 --> 00:43:18,239 Speaker 2: The sour faces on the host of these shows you 753 00:43:18,280 --> 00:43:20,359 Speaker 2: can see them, and they get them off camera real 754 00:43:20,440 --> 00:43:23,399 Speaker 2: quick because you can see their faces, like, you know, 755 00:43:23,960 --> 00:43:25,600 Speaker 2: where are you coming up with these? I can't believe 756 00:43:25,600 --> 00:43:29,640 Speaker 2: these numbers? But this was interesting. He was there the 757 00:43:29,640 --> 00:43:32,719 Speaker 2: other day and he was showing about the top problem 758 00:43:32,840 --> 00:43:37,640 Speaker 2: facing the US as far as economic is concerned, economic concerns. 759 00:43:38,200 --> 00:43:42,480 Speaker 2: October of twenty twenty four, the top concern among people 760 00:43:43,160 --> 00:43:48,600 Speaker 2: economic the economy was the concern of forty three percent 761 00:43:48,719 --> 00:43:52,600 Speaker 2: of the American people. As of October twenty twenty five, 762 00:43:53,000 --> 00:43:56,600 Speaker 2: the top concern among people it was twenty four percent. 763 00:43:57,080 --> 00:44:02,640 Speaker 2: So the worries about the economy has come down twenty percent. 764 00:44:02,560 --> 00:44:04,359 Speaker 3: Despite what they've tried to do as far. 765 00:44:04,280 --> 00:44:08,960 Speaker 2: As talking the economy down, also talking about the average 766 00:44:09,000 --> 00:44:11,560 Speaker 2: around the mid terms, because we've got the midterms coming 767 00:44:11,640 --> 00:44:16,400 Speaker 2: up next year, the top one of the top of 768 00:44:16,440 --> 00:44:20,560 Speaker 2: the concern of people, the average concern on the midterm 769 00:44:20,600 --> 00:44:24,560 Speaker 2: elections as far as the economy is concerned, history throughout 770 00:44:24,560 --> 00:44:27,279 Speaker 2: the history of the midterms has been around thirty five 771 00:44:27,360 --> 00:44:32,440 Speaker 2: percent concern over the economy. This time twenty four percent, 772 00:44:32,840 --> 00:44:37,240 Speaker 2: a full eleven percentage points below. So people, we're being 773 00:44:37,360 --> 00:44:40,920 Speaker 2: told by the experts that people are concerned about the economy, 774 00:44:41,200 --> 00:44:44,320 Speaker 2: but when they're polled here and he takes a cross 775 00:44:44,360 --> 00:44:48,319 Speaker 2: average across section, a good cross section Democrats, Republicans, and 776 00:44:48,360 --> 00:44:51,960 Speaker 2: independence because he talks about how each are being affected 777 00:44:51,960 --> 00:44:57,160 Speaker 2: in these So the average midterms economy being a concern 778 00:44:57,239 --> 00:45:00,280 Speaker 2: of thirty five percent of the people, is only twenty 779 00:45:00,280 --> 00:45:04,600 Speaker 2: four percent of the people now then talking about the 780 00:45:04,640 --> 00:45:08,880 Speaker 2: government shutdown, how much this is going to harm the economy. 781 00:45:09,640 --> 00:45:13,160 Speaker 2: Back in twenty thirteen, when the economy was or the 782 00:45:13,560 --> 00:45:17,560 Speaker 2: government was shut down, the worries about an effect on 783 00:45:17,600 --> 00:45:21,239 Speaker 2: the economy was sixty five percent as far as the 784 00:45:21,280 --> 00:45:26,960 Speaker 2: people were concerned. Today it is forty eight percent. So 785 00:45:27,120 --> 00:45:30,439 Speaker 2: less than half of the people are concerned about how 786 00:45:30,480 --> 00:45:33,680 Speaker 2: the government shut down is going to affect the economy. 787 00:45:34,000 --> 00:45:36,480 Speaker 2: And this you talk about, and he mentioned in here 788 00:45:36,760 --> 00:45:40,520 Speaker 2: what a contrarian report this is. And quite honestly, with 789 00:45:40,640 --> 00:45:43,040 Speaker 2: the information that we keep hearing from the spoon fed 790 00:45:43,040 --> 00:45:47,000 Speaker 2: regurgitators in the mainstream media, this is telling that the 791 00:45:47,040 --> 00:45:50,440 Speaker 2: stuff that they're telling us is not what the people 792 00:45:50,560 --> 00:45:53,000 Speaker 2: are feeling out there. Well, folks, we're up against clock. 793 00:45:53,080 --> 00:45:55,480 Speaker 2: Stay tuned forver REDAI Radio Top of the Hour. I'm 794 00:45:55,560 --> 00:46:00,040 Speaker 2: Kevin Gordon, America's Trucking Network seven hundred wl HO. 795 00:46:00,239 --> 00:46:00,279 Speaker 1: You