1 00:00:07,760 --> 00:00:13,720 Speaker 1: This is America's Trucking Network with Kevin Gordon. Welcome aboard. 2 00:00:13,960 --> 00:00:16,560 Speaker 1: Thanks for tuning in on this Thursday morning. 3 00:00:17,160 --> 00:00:21,760 Speaker 2: Well, yesterday, at two pm, after the Federal Reserve meeting 4 00:00:22,040 --> 00:00:25,599 Speaker 2: ended and Lion Jerry Powell came out to the podium, 5 00:00:26,079 --> 00:00:29,400 Speaker 2: they announced that interest rates were going to stay the same. 6 00:00:30,680 --> 00:00:33,040 Speaker 1: Basically, it's still in the range. 7 00:00:32,840 --> 00:00:35,479 Speaker 2: Between three point five and three point seventy five on 8 00:00:35,560 --> 00:00:40,080 Speaker 2: their overnight lending, which the banks. As we've explained before, 9 00:00:40,200 --> 00:00:43,440 Speaker 2: that it's the amount that the banks have to pay 10 00:00:43,479 --> 00:00:46,080 Speaker 2: each other if they're borrowing money from each other. Then 11 00:00:46,120 --> 00:00:49,160 Speaker 2: that filters down through the economy that affects different other 12 00:00:49,280 --> 00:00:52,240 Speaker 2: interest rates as far as credit cards and so on, 13 00:00:52,680 --> 00:00:56,320 Speaker 2: and then eventually filters into the Treasury bonds, and the 14 00:00:56,360 --> 00:00:59,200 Speaker 2: Treasury bonds then is what dictates the mortgage rates. 15 00:00:59,280 --> 00:01:04,280 Speaker 1: So all that comes through. But it was interesting. 16 00:01:04,640 --> 00:01:08,960 Speaker 2: I didn't watch Jerry's line, Jerry's press conference afterwards. He 17 00:01:09,040 --> 00:01:10,880 Speaker 2: kind of came out at two thirty and did his 18 00:01:11,720 --> 00:01:16,640 Speaker 2: dog and pony show. But he's just so arrogant and 19 00:01:16,760 --> 00:01:21,319 Speaker 2: just so smug in his conversations and his discussions that 20 00:01:21,400 --> 00:01:24,080 Speaker 2: it just makes me ill when I see it. 21 00:01:24,560 --> 00:01:28,640 Speaker 1: But I just don't if you're. 22 00:01:28,520 --> 00:01:32,800 Speaker 2: Trying to get a position of where you're stimulating the economy. 23 00:01:32,920 --> 00:01:35,680 Speaker 2: I don't know how many times it has to be mentioned. 24 00:01:36,480 --> 00:01:40,080 Speaker 2: Even the liberal media points out the lower interest rates 25 00:01:40,160 --> 00:01:44,520 Speaker 2: stimulate the economy. If we're concerned about stimulating the economy 26 00:01:44,840 --> 00:01:47,960 Speaker 2: and making sure that more production is done, and the 27 00:01:48,000 --> 00:01:51,279 Speaker 2: more production that has done, then the price per item 28 00:01:51,400 --> 00:01:55,760 Speaker 2: comes down, which reduces inflation. The more people working, the 29 00:01:55,760 --> 00:01:59,400 Speaker 2: more people are out in the workforce, then it just 30 00:01:59,760 --> 00:02:04,600 Speaker 2: keep the economy humming. And yet they continue to keep 31 00:02:05,000 --> 00:02:11,839 Speaker 2: pressure on by having our interest rates excuse me, artificially 32 00:02:11,919 --> 00:02:14,320 Speaker 2: high compared to the rest of the world. 33 00:02:14,400 --> 00:02:16,640 Speaker 1: And it boggles my mind. 34 00:02:16,680 --> 00:02:20,600 Speaker 2: And I cannot wait till Jerry Lion, Jerry Powell is 35 00:02:20,800 --> 00:02:23,760 Speaker 2: gone from the Federal Reserve and we get somebody in 36 00:02:23,800 --> 00:02:26,000 Speaker 2: there that is more of it what they call we 37 00:02:26,120 --> 00:02:31,000 Speaker 2: call a supply sider in terms of the Federal Reserve chairment. 38 00:02:31,280 --> 00:02:34,840 Speaker 2: So again, that's my two cents worth on that. Later 39 00:02:34,919 --> 00:02:38,359 Speaker 2: on this morning, when i'm you know, and I may 40 00:02:38,440 --> 00:02:40,240 Speaker 2: go back and listen to what he had to say 41 00:02:40,280 --> 00:02:43,360 Speaker 2: and review the press conference and so on, but I 42 00:02:43,400 --> 00:02:45,880 Speaker 2: don't know. I just he is so smug. He just 43 00:02:45,960 --> 00:02:48,440 Speaker 2: irritates me to no end, and I don't even like 44 00:02:48,560 --> 00:02:51,680 Speaker 2: looking at the guy. We got some bad news yesterday 45 00:02:51,880 --> 00:02:57,200 Speaker 2: also wholesale prices. The headlines were wholesale prices rose point 46 00:02:57,320 --> 00:03:02,200 Speaker 2: seven percent in February, much more than expected, which means 47 00:03:02,240 --> 00:03:05,840 Speaker 2: that those wholesale prices on a year, if you factored 48 00:03:05,840 --> 00:03:08,480 Speaker 2: that out to the entire year, would be up three. 49 00:03:08,280 --> 00:03:09,320 Speaker 1: Point four percent. 50 00:03:10,400 --> 00:03:12,320 Speaker 2: A little bit of a silver lining in there, and 51 00:03:12,360 --> 00:03:15,000 Speaker 2: we'll get to it, but it's interesting to see the 52 00:03:15,000 --> 00:03:17,519 Speaker 2: way some of these things are talked about, and as 53 00:03:17,560 --> 00:03:20,720 Speaker 2: we pointed out on this program, we will dig into 54 00:03:20,760 --> 00:03:24,920 Speaker 2: the numbers, we will dig into the kernels of truth 55 00:03:25,000 --> 00:03:26,000 Speaker 2: that is put in there. 56 00:03:26,880 --> 00:03:28,480 Speaker 1: And I've talked about. 57 00:03:28,280 --> 00:03:33,080 Speaker 2: This on numerous occasions, because you have the spoon feder 58 00:03:33,080 --> 00:03:37,920 Speaker 2: regurgitators in the mainstream media. They will focus on the 59 00:03:37,960 --> 00:03:42,000 Speaker 2: worst possible portion of a story and use that as 60 00:03:42,040 --> 00:03:45,040 Speaker 2: their headline, and then as you read through the story, 61 00:03:45,240 --> 00:03:48,960 Speaker 2: you see certain things of where they completely negate what 62 00:03:49,080 --> 00:03:52,280 Speaker 2: they were talking about in the first place and hide 63 00:03:52,600 --> 00:03:56,240 Speaker 2: the good news. So anyway, let's get into this wholesale 64 00:03:56,280 --> 00:04:00,080 Speaker 2: prices surge again and show inflation flowing through the pipeline 65 00:04:00,160 --> 00:04:03,520 Speaker 2: of the economy. The cost of wholesale goods and services 66 00:04:03,520 --> 00:04:06,120 Speaker 2: surgeon in February for the third month in a row, 67 00:04:06,400 --> 00:04:10,880 Speaker 2: underscoring the challenge faced by the Federal Reserve in vanquishing inflation. 68 00:04:11,480 --> 00:04:17,480 Speaker 1: You know the Federal Reserve. They claimed that they're. 69 00:04:18,880 --> 00:04:23,080 Speaker 2: Back during the when inflation was totally out of control. 70 00:04:23,640 --> 00:04:27,880 Speaker 2: They sat on the sidelines from January of twenty twenty 71 00:04:27,920 --> 00:04:33,400 Speaker 2: one until March of twenty twenty two, when inflation rate 72 00:04:33,520 --> 00:04:37,240 Speaker 2: kept going up and up and up, and they sat 73 00:04:37,279 --> 00:04:41,520 Speaker 2: on the sidelines and said, this is transitory inflation, which 74 00:04:41,560 --> 00:04:45,560 Speaker 2: means it's not going to last long. Finally they got 75 00:04:45,600 --> 00:04:49,080 Speaker 2: the message that in March of twenty twenty two, they 76 00:04:49,120 --> 00:04:53,279 Speaker 2: started raising interest rates, and it was obvious that they 77 00:04:53,520 --> 00:04:56,680 Speaker 2: were if they were trying to slow down the economy 78 00:04:57,080 --> 00:05:02,000 Speaker 2: and keep inflation at bay at and reduce inflation. It 79 00:05:02,080 --> 00:05:05,360 Speaker 2: didn't work because three months later, in June of twenty 80 00:05:05,440 --> 00:05:10,760 Speaker 2: twenty two, inflation reached nine point one percent. So when 81 00:05:10,920 --> 00:05:14,520 Speaker 2: they make a comment here in this story, the challenge 82 00:05:14,560 --> 00:05:18,240 Speaker 2: is faced by the Federal Reserve in vanquishing inflation. They 83 00:05:18,279 --> 00:05:21,880 Speaker 2: don't have a good reputation of doing that, and underlying 84 00:05:21,960 --> 00:05:26,159 Speaker 2: Jerry Powell's control, he hasn't done that and has not 85 00:05:26,320 --> 00:05:28,760 Speaker 2: been good at monetary. 86 00:05:28,200 --> 00:05:29,400 Speaker 1: Policy, et cetera. 87 00:05:29,760 --> 00:05:32,840 Speaker 2: It's usually too heavy in one way and not too 88 00:05:32,960 --> 00:05:36,240 Speaker 2: much in another. When things business is booming, they go 89 00:05:36,320 --> 00:05:39,159 Speaker 2: in one direction and they try to tilt the scale 90 00:05:39,240 --> 00:05:41,880 Speaker 2: away from certain things, and then it pushes it in 91 00:05:41,920 --> 00:05:46,040 Speaker 2: a different direction. So it's always never this trying to 92 00:05:46,400 --> 00:05:51,640 Speaker 2: keep a balance. It's always trying to negate the effects 93 00:05:51,680 --> 00:05:54,080 Speaker 2: of putting too much on one side of the scale 94 00:05:54,279 --> 00:05:56,520 Speaker 2: and then having to go back and put more on 95 00:05:56,560 --> 00:05:59,400 Speaker 2: the other side, and then kind of, you know, keep 96 00:05:59,440 --> 00:06:01,920 Speaker 2: going back and forth because they never really hit that 97 00:06:02,040 --> 00:06:06,000 Speaker 2: even keel. And it's just irritating that these so called experts, 98 00:06:06,200 --> 00:06:09,440 Speaker 2: these so called great economists and line Jerry Powell, with 99 00:06:09,440 --> 00:06:13,039 Speaker 2: whatever degrees he has, still hasn't been able to understand 100 00:06:13,200 --> 00:06:17,279 Speaker 2: basic economic facts. So again, going to this federal reserve 101 00:06:17,400 --> 00:06:21,160 Speaker 2: is vanquishing inflation. Even before the recent spike and oil prices, 102 00:06:21,400 --> 00:06:25,560 Speaker 2: producer prices jump point seven percent in January and February. Rather, 103 00:06:25,600 --> 00:06:27,960 Speaker 2: according to the index published by the government, which is 104 00:06:27,960 --> 00:06:29,400 Speaker 2: a Bureau of Labor Statists or. 105 00:06:31,160 --> 00:06:34,039 Speaker 1: The Commerce Department, over. 106 00:06:33,839 --> 00:06:36,880 Speaker 2: The past twelve months, wholesale prices have risen three point 107 00:06:36,920 --> 00:06:39,920 Speaker 2: four percent compared with two point nine percent in the 108 00:06:40,560 --> 00:06:44,240 Speaker 2: prior month. Wholesale prices where inflation shows up first, these 109 00:06:44,240 --> 00:06:46,920 Speaker 2: are the prices sent in the hint of future changes. 110 00:06:46,960 --> 00:06:50,200 Speaker 2: So again, these are the prices going into the factories, 111 00:06:50,279 --> 00:06:54,159 Speaker 2: the raw materials going in, the manufacturing costs of those, 112 00:06:54,440 --> 00:06:57,200 Speaker 2: the labor, et cetera, and then the output from these 113 00:06:57,240 --> 00:07:01,560 Speaker 2: manufacturing facilities, and then goes to the wholesalers and then 114 00:07:01,600 --> 00:07:04,240 Speaker 2: eventually to the retailers. So if those prices are on 115 00:07:04,279 --> 00:07:07,359 Speaker 2: the upswing, you know that eventually when it hits to 116 00:07:07,760 --> 00:07:10,640 Speaker 2: the individual consumers, that the prices are going to go up. 117 00:07:10,920 --> 00:07:14,920 Speaker 2: Except if these companies are more concerned about keeping their 118 00:07:15,800 --> 00:07:18,960 Speaker 2: market share, making sure they have the brand loyalty and 119 00:07:19,000 --> 00:07:23,000 Speaker 2: the customer loyalty where people are bargain shopping, so they 120 00:07:23,040 --> 00:07:25,440 Speaker 2: may eat some of those higher prices and cut into 121 00:07:25,480 --> 00:07:29,520 Speaker 2: their gross margins in order to keep that flowing and 122 00:07:29,560 --> 00:07:32,480 Speaker 2: to make sure that the customers don't switch and jump 123 00:07:32,520 --> 00:07:33,400 Speaker 2: to another product. 124 00:07:33,480 --> 00:07:35,600 Speaker 1: So it'll be interesting to see how that flows. 125 00:07:36,040 --> 00:07:39,000 Speaker 2: The current level of wholesale inflation suggests inflation will stay 126 00:07:39,360 --> 00:07:42,320 Speaker 2: well above the Federal Reserves two percent target for at 127 00:07:42,400 --> 00:07:46,200 Speaker 2: least through the summer. Key details are so called wholesale 128 00:07:46,360 --> 00:07:50,560 Speaker 2: prices rows at a sharp five point five percent in February, 129 00:07:50,880 --> 00:07:54,559 Speaker 2: twelve month increase in core prices edged up to three 130 00:07:54,600 --> 00:07:58,960 Speaker 2: point five from three point four percent. The core rate 131 00:07:59,080 --> 00:08:03,520 Speaker 2: strips out volatile food and energy costs, which those fluctuate, 132 00:08:03,600 --> 00:08:05,720 Speaker 2: and they want to make sure that they pull those out, 133 00:08:05,760 --> 00:08:08,160 Speaker 2: and this is something they do even, you know, no 134 00:08:08,160 --> 00:08:11,360 Speaker 2: matter whether inflation is up or inflation is down, because 135 00:08:11,640 --> 00:08:15,240 Speaker 2: energy costs and food prices are always volatile because of 136 00:08:15,560 --> 00:08:17,360 Speaker 2: you know, as far as food prices are concerned, they're 137 00:08:17,440 --> 00:08:19,800 Speaker 2: volatile due to the seasons and what time of the 138 00:08:19,880 --> 00:08:22,520 Speaker 2: year you look at those. And of course energy prices 139 00:08:22,560 --> 00:08:26,800 Speaker 2: depending upon what's going on geopolitically or in terms of 140 00:08:26,840 --> 00:08:29,840 Speaker 2: what's going on as far as going into summer blends 141 00:08:29,960 --> 00:08:34,800 Speaker 2: or doing certain things that refineries energy costs fluctuate again 142 00:08:35,160 --> 00:08:37,439 Speaker 2: because of you know, when they do repairs and maintenance 143 00:08:37,440 --> 00:08:41,640 Speaker 2: on their refineries, those prices fluctuate there. So again they 144 00:08:41,679 --> 00:08:44,000 Speaker 2: pull those out and then look at the core, what 145 00:08:44,040 --> 00:08:47,120 Speaker 2: they call the core. In here, wholesale prices climbed one 146 00:08:47,160 --> 00:08:49,480 Speaker 2: point one percent, marking the largest gain in two and 147 00:08:49,559 --> 00:08:52,880 Speaker 2: a half years. Goods prices are far more affected by 148 00:08:52,920 --> 00:08:57,000 Speaker 2: tariffs than service prices, which is interesting for them to 149 00:08:57,080 --> 00:09:03,240 Speaker 2: admit finally that it's and you know, the services are not. 150 00:09:03,200 --> 00:09:04,360 Speaker 1: Affected by tariffs. 151 00:09:04,440 --> 00:09:07,360 Speaker 2: Yet everything they want to talk about in terms of 152 00:09:07,640 --> 00:09:12,040 Speaker 2: prices rising, it always involves, well, you know, it's up 153 00:09:12,080 --> 00:09:15,080 Speaker 2: because of tariffs. They never dig into the numbers to 154 00:09:15,120 --> 00:09:19,120 Speaker 2: find out what is causing that, whether it no matter 155 00:09:19,160 --> 00:09:21,600 Speaker 2: what it is. They just want to hang it on tariffs, 156 00:09:21,840 --> 00:09:24,360 Speaker 2: when in fact, if you go through the numbers and 157 00:09:24,400 --> 00:09:27,120 Speaker 2: look at what the tariffs effect, even the Federal Reserve 158 00:09:27,160 --> 00:09:29,600 Speaker 2: a couple of months ago said that it appeared as 159 00:09:29,600 --> 00:09:32,720 Speaker 2: though that there was very little effect as a result 160 00:09:32,840 --> 00:09:36,120 Speaker 2: of tariffs, and so there was very little inflationary pressure 161 00:09:36,440 --> 00:09:40,160 Speaker 2: regarding the teriffs, even though you know everybody, that's what 162 00:09:40,400 --> 00:09:43,160 Speaker 2: these spoon federal gurgi stators and mainstream meter always want 163 00:09:43,200 --> 00:09:45,520 Speaker 2: to concentrate on. We'll talk a little bit more about 164 00:09:45,520 --> 00:09:48,280 Speaker 2: this coming up. I'm Kevin Gordon, America struck a network 165 00:09:48,520 --> 00:09:54,280 Speaker 2: seven hundred w LW, one hundred w LW continuingly talking 166 00:09:54,280 --> 00:09:57,080 Speaker 2: about wholesale prices and the surge there and so on. 167 00:09:57,120 --> 00:09:59,200 Speaker 2: I think I said in the previous segment that this 168 00:09:59,360 --> 00:10:01,560 Speaker 2: is done by the commerce Department, but it's actually done 169 00:10:01,559 --> 00:10:05,360 Speaker 2: by the Bureau of Labor Statistics, so again clearing that up. 170 00:10:05,800 --> 00:10:09,559 Speaker 2: But when they dive into the numbers, it's very interesting 171 00:10:09,640 --> 00:10:14,240 Speaker 2: to see just exactly where the components of this. The 172 00:10:14,240 --> 00:10:19,440 Speaker 2: components of this is goods, and again they talk about 173 00:10:19,880 --> 00:10:23,199 Speaker 2: that where the effects are. There's two effects in terms 174 00:10:23,200 --> 00:10:26,880 Speaker 2: of your wholesale prices. It's the actual goods themselves, the 175 00:10:27,400 --> 00:10:31,199 Speaker 2: raw materials and so on, but then there's also the 176 00:10:31,280 --> 00:10:36,480 Speaker 2: services sector. And the services sector is a large increase 177 00:10:36,559 --> 00:10:39,679 Speaker 2: in this, and it's interesting that they do perform some 178 00:10:39,760 --> 00:10:42,320 Speaker 2: journalism in this story. Now, this is a story from 179 00:10:42,320 --> 00:10:46,480 Speaker 2: MarketWatch dot com. The cost of both wholesale goods and 180 00:10:46,600 --> 00:10:50,720 Speaker 2: services shot up last month. Wholesale goods price jumped one 181 00:10:50,760 --> 00:10:53,720 Speaker 2: point one percent, marking the largest gain in two and 182 00:10:53,720 --> 00:10:55,240 Speaker 2: a half years. I think we mentioned that in the 183 00:10:55,240 --> 00:11:00,000 Speaker 2: previous segment. Goods prices are far more affected by tariffs 184 00:11:00,240 --> 00:11:07,040 Speaker 2: then service prices. The cost of services advanced point five percent, 185 00:11:07,559 --> 00:11:12,760 Speaker 2: led by sharp increases in hotel prices. Say again, these 186 00:11:12,800 --> 00:11:16,240 Speaker 2: are where some of the largest increases as far as 187 00:11:16,280 --> 00:11:21,120 Speaker 2: inflation are coming from. We're not I mean hotel prices 188 00:11:21,160 --> 00:11:24,080 Speaker 2: are not affected by tariffs. I mean, there's no tariffs 189 00:11:24,080 --> 00:11:27,480 Speaker 2: on hotel prices because those are you know, in the 190 00:11:27,600 --> 00:11:30,559 Speaker 2: United States here. But when they break down the cost 191 00:11:30,600 --> 00:11:33,520 Speaker 2: and see where these are coming from, it's very interesting. 192 00:11:34,240 --> 00:11:36,440 Speaker 2: In another story they do break this down, and of 193 00:11:36,480 --> 00:11:38,559 Speaker 2: course that's from CNBC and we'll get to that in 194 00:11:38,600 --> 00:11:42,120 Speaker 2: a moment. The cost of partially finished goods rows one 195 00:11:42,120 --> 00:11:45,640 Speaker 2: point six percent and raw materials ballooned three point one 196 00:11:45,720 --> 00:11:51,440 Speaker 2: percent in February. Now, by the end of this story, 197 00:11:51,520 --> 00:11:53,800 Speaker 2: I mean it's a page and a half long story, 198 00:11:53,880 --> 00:11:57,400 Speaker 2: you know, single space, et cetera. That's when they finally 199 00:11:57,440 --> 00:11:59,880 Speaker 2: get into some of the meat of this story and 200 00:12:00,160 --> 00:12:04,800 Speaker 2: some of the more important facts. The silver lining price 201 00:12:04,920 --> 00:12:08,560 Speaker 2: increases and partly finished goods and raw materials have been 202 00:12:08,720 --> 00:12:12,200 Speaker 2: fairly mild over the past twelve months. They are not 203 00:12:12,360 --> 00:12:16,640 Speaker 2: showing signs of rapidly building inflationary pressures in the innards 204 00:12:16,720 --> 00:12:22,920 Speaker 2: of the economy. Big picture, inflation has risen faster than 205 00:12:22,960 --> 00:12:27,520 Speaker 2: the FEDS two percent target for five years in a row. 206 00:12:28,320 --> 00:12:32,800 Speaker 2: Let me repeat that, inflation has risen faster than the 207 00:12:32,800 --> 00:12:36,920 Speaker 2: FEDS two percent target for five years in a row. 208 00:12:37,120 --> 00:12:40,000 Speaker 2: The Fed sets this inflationary rate, they want it to 209 00:12:40,000 --> 00:12:43,720 Speaker 2: be around two percent. It's been above that for five years, 210 00:12:44,040 --> 00:12:47,000 Speaker 2: all right, five years ago takes us back to twenty 211 00:12:47,080 --> 00:12:50,880 Speaker 2: twenty one, the start of the Biden administration. So for 212 00:12:51,040 --> 00:12:55,479 Speaker 2: four years of the Biden administration, this inflation rate has percolated. 213 00:12:55,880 --> 00:12:57,640 Speaker 1: And it's not just a one off. 214 00:12:57,920 --> 00:13:02,120 Speaker 2: You know, if prices go up ten percent or five percent, 215 00:13:02,280 --> 00:13:05,640 Speaker 2: one percent or whatever this month, and then it goes 216 00:13:05,760 --> 00:13:07,920 Speaker 2: up a one percent next month. 217 00:13:08,040 --> 00:13:10,800 Speaker 1: That is not a one percent there. 218 00:13:10,840 --> 00:13:13,839 Speaker 2: It is a compound effect that price that went up 219 00:13:14,520 --> 00:13:17,800 Speaker 2: one percent last month, and then it goes up one 220 00:13:17,840 --> 00:13:20,760 Speaker 2: percent on top of the one point one percent, and 221 00:13:20,800 --> 00:13:23,480 Speaker 2: this is the accumulated effect. So when you go back 222 00:13:23,520 --> 00:13:26,280 Speaker 2: to the four years of the Biden administration, and this 223 00:13:26,440 --> 00:13:30,720 Speaker 2: layer and layer and layer of increase in inflation over 224 00:13:30,760 --> 00:13:33,240 Speaker 2: that four year period of time led to where the 225 00:13:33,280 --> 00:13:37,920 Speaker 2: prices were on January the twenty twentieth, when Trump took 226 00:13:37,960 --> 00:13:41,240 Speaker 2: office in twenty twenty five. So for four years of 227 00:13:41,240 --> 00:13:45,679 Speaker 2: the Biden administration, inflation was out of control. Again, let's 228 00:13:45,720 --> 00:13:49,240 Speaker 2: not forget June of twenty twenty two, nine point one 229 00:13:49,360 --> 00:13:54,800 Speaker 2: percent inflation in one month, and people are expecting that 230 00:13:54,880 --> 00:13:57,760 Speaker 2: this to be corrected in just one year, and with 231 00:13:57,960 --> 00:14:01,120 Speaker 2: everything that's going on in terms of trying to write 232 00:14:01,120 --> 00:14:03,760 Speaker 2: the ship. As far as what's going on, it's amazing 233 00:14:03,800 --> 00:14:06,960 Speaker 2: that they actually admit. But I want to emphasize the 234 00:14:07,040 --> 00:14:10,640 Speaker 2: fact that this has been up for five years, and 235 00:14:10,720 --> 00:14:14,840 Speaker 2: so those people that are out there talking about affordability 236 00:14:15,280 --> 00:14:20,600 Speaker 2: and that this president needs to pay attention to the 237 00:14:20,640 --> 00:14:24,840 Speaker 2: people and pay attention to affordability, where the hell were 238 00:14:24,960 --> 00:14:27,640 Speaker 2: you for the four years of the Biden administration. We 239 00:14:27,800 --> 00:14:31,280 Speaker 2: never heard about affordability. Then it was well, these things 240 00:14:31,320 --> 00:14:35,160 Speaker 2: are necessary. Higher gas prices are necessary for the. 241 00:14:35,200 --> 00:14:36,800 Speaker 1: New liberal world order. 242 00:14:37,640 --> 00:14:43,760 Speaker 2: That's exactly a quote from Brian Dees from the Biden administration. 243 00:14:44,440 --> 00:14:47,600 Speaker 2: And the behind that was they wanted to see energy 244 00:14:47,640 --> 00:14:50,160 Speaker 2: prices go up. They wanted to see gas prices go 245 00:14:50,320 --> 00:14:55,560 Speaker 2: up to push people into unaffordable electric cars, and so 246 00:14:55,680 --> 00:14:59,280 Speaker 2: the push there was for this green energy crap and 247 00:14:59,760 --> 00:15:03,640 Speaker 2: a in as they're pushing these prices and making them higher, 248 00:15:04,400 --> 00:15:08,280 Speaker 2: they have a liberal agenda behind that, and so we're 249 00:15:08,400 --> 00:15:12,640 Speaker 2: expected to believe them when they say that, Okay, we 250 00:15:12,720 --> 00:15:16,240 Speaker 2: screwed things up for four years and that we're the 251 00:15:16,280 --> 00:15:19,000 Speaker 2: ones that are going to come in now and straighten 252 00:15:19,000 --> 00:15:22,400 Speaker 2: it out right. I don't think so the people that 253 00:15:22,600 --> 00:15:26,040 Speaker 2: cause the mess are not the people you want to 254 00:15:26,120 --> 00:15:29,240 Speaker 2: fix the problem. You don't call an arsonist to go 255 00:15:29,320 --> 00:15:32,960 Speaker 2: put out a fire. So that was interesting to see 256 00:15:32,960 --> 00:15:37,040 Speaker 2: this actually in a story looking ahead. This isn't the 257 00:15:37,080 --> 00:15:40,520 Speaker 2: kind of PPI report the federal wants to see. According 258 00:15:40,520 --> 00:15:45,200 Speaker 2: to Nationwide Financial Markets Economists or in Klashkin, the reports 259 00:15:45,200 --> 00:15:49,160 Speaker 2: suggests inflations is not going to accelerate, even was going 260 00:15:49,200 --> 00:15:53,040 Speaker 2: to accelerate even before the Iran conflict. That's not quite 261 00:15:53,080 --> 00:15:56,280 Speaker 2: a true statement because most of the stuff that we're 262 00:15:56,280 --> 00:15:59,400 Speaker 2: going to be seeing increasing is a result of the 263 00:15:59,440 --> 00:16:03,400 Speaker 2: Iran war, which again was necessary. I don't know how 264 00:16:03,400 --> 00:16:05,520 Speaker 2: else you can slice it. They have been a threat 265 00:16:05,560 --> 00:16:08,040 Speaker 2: and we'll talk about that later on what the other 266 00:16:08,120 --> 00:16:11,520 Speaker 2: Gulf states now are saying as a result of what 267 00:16:11,640 --> 00:16:14,800 Speaker 2: Iran's actions have been. So that's going to be a 268 00:16:14,920 --> 00:16:15,640 Speaker 2: very key point. 269 00:16:15,840 --> 00:16:16,040 Speaker 1: Now. 270 00:16:16,120 --> 00:16:20,800 Speaker 2: The CNBC report, their story came out, they talked about 271 00:16:20,840 --> 00:16:24,920 Speaker 2: again the price is increasing economist survey by dal Jones 272 00:16:25,240 --> 00:16:27,320 Speaker 2: have been looking for an increase to the point three 273 00:16:27,640 --> 00:16:30,200 Speaker 2: for both measures. So the one came in at point 274 00:16:30,280 --> 00:16:33,920 Speaker 2: seven percent and the so called and I love this, 275 00:16:35,400 --> 00:16:41,480 Speaker 2: it's the same core PPI it's the same thing energy 276 00:16:41,640 --> 00:16:44,960 Speaker 2: and food prices pulled out. So why they call it 277 00:16:45,080 --> 00:16:48,760 Speaker 2: so called, I mean, it's core PPI, it's not so 278 00:16:48,960 --> 00:16:53,480 Speaker 2: called PPI. So they were expecting point three percent increase 279 00:16:53,880 --> 00:16:56,840 Speaker 2: and what came back as zero point seven and point 280 00:16:56,880 --> 00:17:00,000 Speaker 2: five respectively. Now, when they break this down in terms 281 00:17:00,280 --> 00:17:03,680 Speaker 2: of where the costs are coming from and the increases, 282 00:17:03,840 --> 00:17:07,359 Speaker 2: the surgeon PPI came in large part to a zero 283 00:17:07,359 --> 00:17:12,840 Speaker 2: point five percent increase in service costs. Service costs that 284 00:17:12,920 --> 00:17:16,679 Speaker 2: has nothing to do with tariffs, it has nothing to 285 00:17:16,720 --> 00:17:20,600 Speaker 2: do with import fees. Services are salaries and wages in 286 00:17:20,880 --> 00:17:22,960 Speaker 2: the service area, something that FED. 287 00:17:24,000 --> 00:17:27,960 Speaker 1: Let me see the PPI zero point five. 288 00:17:27,840 --> 00:17:31,480 Speaker 2: Percent increase in service costs, something that FED would not welcome. 289 00:17:31,680 --> 00:17:34,439 Speaker 2: Policymakers have attributed much of the recent run up and 290 00:17:34,560 --> 00:17:37,640 Speaker 2: inflation to tariffs, which would not show up in much 291 00:17:37,640 --> 00:17:41,439 Speaker 2: of the services. Again, if services are going up the 292 00:17:41,520 --> 00:17:44,639 Speaker 2: tariff related, if they're blaming, if they're blaming increased costs 293 00:17:44,680 --> 00:17:47,680 Speaker 2: on tariffs, they're saying right here that it does not 294 00:17:47,840 --> 00:17:51,240 Speaker 2: show up in services. So services, if that's going up, 295 00:17:51,400 --> 00:17:53,680 Speaker 2: that has nothing to do with teriffs. And it's about 296 00:17:53,720 --> 00:17:57,080 Speaker 2: time that they admit that portfolio management fees, a key 297 00:17:57,160 --> 00:18:00,640 Speaker 2: driver for services. Costs within the PPI measurement, were up 298 00:18:00,800 --> 00:18:06,200 Speaker 2: one percent in February. Similarly, prices for securities, brokerage dealing, 299 00:18:06,520 --> 00:18:11,880 Speaker 2: investment advice and related services accelerated four point two percent. 300 00:18:12,560 --> 00:18:15,920 Speaker 2: Goods prices rose one point one percent for the month. 301 00:18:16,160 --> 00:18:19,720 Speaker 2: So again, if you've got the services in and the 302 00:18:19,840 --> 00:18:24,640 Speaker 2: silver lining of that would be with the stock market 303 00:18:25,040 --> 00:18:28,439 Speaker 2: hitting record highs in the first part of the end 304 00:18:28,440 --> 00:18:31,000 Speaker 2: of last year and in most of last year, in 305 00:18:31,040 --> 00:18:33,480 Speaker 2: the first part of this year, before the war in Iran, 306 00:18:35,200 --> 00:18:37,840 Speaker 2: more people were jumping into the market. It's not a 307 00:18:37,840 --> 00:18:41,160 Speaker 2: matter of them increasing their prices for these services. It's 308 00:18:41,160 --> 00:18:44,359 Speaker 2: a matter of the volume coming in in terms of 309 00:18:44,440 --> 00:18:47,359 Speaker 2: the number of people jumping in. But again, as those 310 00:18:47,400 --> 00:18:50,119 Speaker 2: prices and those increases come in, those are going to 311 00:18:50,119 --> 00:18:53,360 Speaker 2: filter through in terms of the inflation rate, and those 312 00:18:53,359 --> 00:18:57,200 Speaker 2: should be recognized and talked about. If salaries and wages 313 00:18:57,280 --> 00:18:59,760 Speaker 2: is what's driving some of the inflation, they need to 314 00:18:59,760 --> 00:19:02,840 Speaker 2: be honest to us and tell us that food prices 315 00:19:02,920 --> 00:19:05,680 Speaker 2: cost two point four percent while energy was up two 316 00:19:05,680 --> 00:19:09,000 Speaker 2: point three Within food, the index for fresh and dry 317 00:19:09,080 --> 00:19:12,480 Speaker 2: vegetables was up again having to do with drought conditions 318 00:19:12,720 --> 00:19:17,520 Speaker 2: and certain parts of the year. The report suggests that 319 00:19:17,680 --> 00:19:24,200 Speaker 2: pipeline inflation pressures remained persistent, particularly on the service's side. 320 00:19:24,440 --> 00:19:27,000 Speaker 2: So again, if they would be honest about it and 321 00:19:27,040 --> 00:19:30,040 Speaker 2: talk about that these prices in the service end, this industry, 322 00:19:30,440 --> 00:19:33,679 Speaker 2: dealing mostly with salaries and wages is what's causing a 323 00:19:33,760 --> 00:19:36,720 Speaker 2: bulk of the inflation. That would be great to hear 324 00:19:37,000 --> 00:19:40,200 Speaker 2: once in a while. Coming up, We've got factory orders, 325 00:19:40,240 --> 00:19:45,040 Speaker 2: which some decent news there. I'm Kevin Gordon, america'struck a 326 00:19:45,040 --> 00:19:48,040 Speaker 2: Network seven hundred WLW. 327 00:19:50,800 --> 00:19:53,280 Speaker 3: Here's your trucking forecast the Try State and the rest 328 00:19:53,320 --> 00:19:55,959 Speaker 3: of the country. In the Try State, Opy night, mostly Claudi, 329 00:19:56,040 --> 00:19:58,880 Speaker 3: the low down to thirty six, mostly Claudi early Thursday, 330 00:19:58,920 --> 00:20:01,640 Speaker 3: with a chance of rain actually becoming sunny in the afternoon, 331 00:20:01,680 --> 00:20:04,080 Speaker 3: a high of sixty two most of Claudi. Fiday, the 332 00:20:04,160 --> 00:20:07,000 Speaker 3: high year seventy partly sunny Saturday, and the warm trenk 333 00:20:07,000 --> 00:20:10,520 Speaker 3: continues a high of seventy two nationally in early season 334 00:20:10,600 --> 00:20:14,119 Speaker 3: record breaking heywift continues across the western US, expanding east 335 00:20:14,119 --> 00:20:16,800 Speaker 3: into the Great Plains. What weather is still seen in 336 00:20:16,880 --> 00:20:19,919 Speaker 3: western Washington State, but they wintery mix expected across the 337 00:20:19,920 --> 00:20:23,760 Speaker 3: government western Great Lakes region into the interior northeast, parts 338 00:20:23,760 --> 00:20:26,480 Speaker 3: of the Central and Southern Plains seeing a critical risk 339 00:20:26,520 --> 00:20:27,480 Speaker 3: of fire weather. 340 00:20:29,920 --> 00:20:33,480 Speaker 2: Seven hundred l W. I'm Kevin Gordon. This is America's 341 00:20:33,440 --> 00:20:36,439 Speaker 2: struck A network. Got some good news in terms of 342 00:20:36,440 --> 00:20:40,080 Speaker 2: factory orders. Are concerned. But again it's good news. It's 343 00:20:40,080 --> 00:20:43,159 Speaker 2: in the positive, but it isn't, you know, setting the 344 00:20:43,160 --> 00:20:46,480 Speaker 2: world on fire type of thing. Factory orders barely rise 345 00:20:46,480 --> 00:20:49,640 Speaker 2: in January. According to one US factory orders inch up, 346 00:20:49,680 --> 00:20:54,040 Speaker 2: in line with estimates. US factory orders tick up in January, 347 00:20:54,320 --> 00:20:57,639 Speaker 2: depending upon what headline you want to read. Taking a 348 00:20:57,640 --> 00:21:01,600 Speaker 2: look at this story from Reuters barely rise. 349 00:21:01,359 --> 00:21:03,159 Speaker 1: In January, and again. 350 00:21:05,600 --> 00:21:09,760 Speaker 2: Writers generally irritates me because again they are a bubble 351 00:21:09,840 --> 00:21:12,959 Speaker 2: or two left of center. But you have to sift 352 00:21:13,000 --> 00:21:16,080 Speaker 2: through their headline and get to the meat of the 353 00:21:16,160 --> 00:21:21,200 Speaker 2: story before you find them committing journalism integrity. When they 354 00:21:21,200 --> 00:21:25,480 Speaker 2: commit journalism, it's buried within the story, so a lot 355 00:21:25,560 --> 00:21:29,320 Speaker 2: more facts are in there. But again I caution people 356 00:21:29,640 --> 00:21:32,040 Speaker 2: because I'm hearing more and more people that are just 357 00:21:32,080 --> 00:21:35,120 Speaker 2: scrolling through their phones and looking at headlines, and when 358 00:21:35,160 --> 00:21:38,400 Speaker 2: I hear people repeating certain things I know. All they're 359 00:21:38,440 --> 00:21:41,960 Speaker 2: doing is repeating headlines as opposed to what's in the story. 360 00:21:42,320 --> 00:21:44,240 Speaker 2: A lot of times people will say something to me 361 00:21:44,280 --> 00:21:46,240 Speaker 2: and I'll say, did you read the story, Well, here 362 00:21:46,320 --> 00:21:48,280 Speaker 2: was the headline. I said, well, you know, if you've 363 00:21:48,440 --> 00:21:51,600 Speaker 2: read the story, you would see that halfway through the story, 364 00:21:51,640 --> 00:21:54,720 Speaker 2: at the end of the story. Whatever they said pretty 365 00:21:54,760 --> 00:21:59,120 Speaker 2: much negates everything that they said in their headline because 366 00:21:59,280 --> 00:22:02,240 Speaker 2: in the underline story itself. Oh, I didn't know that. 367 00:22:02,480 --> 00:22:05,000 Speaker 2: I didn't realize that was in there. Yeah, it pays 368 00:22:05,080 --> 00:22:07,560 Speaker 2: to read the story, not just the headline. But anyway, 369 00:22:07,600 --> 00:22:09,719 Speaker 2: let's dig into this a little bit, because this is 370 00:22:10,160 --> 00:22:13,240 Speaker 2: there's some good news in here. Let's see new orders 371 00:22:13,280 --> 00:22:15,840 Speaker 2: or US factory goods edged up in January's weakness and 372 00:22:15,840 --> 00:22:20,960 Speaker 2: transportation equipment partially offset gains elsewhere in the government. Factory 373 00:22:21,080 --> 00:22:24,639 Speaker 2: orders rose one point one percent after an upwardly revised 374 00:22:24,640 --> 00:22:28,399 Speaker 2: point four percent drop in December. See in December they 375 00:22:28,400 --> 00:22:31,040 Speaker 2: had said that these factory orders had declined by point 376 00:22:31,160 --> 00:22:35,479 Speaker 2: seven percent, and that so when they revised that up 377 00:22:35,480 --> 00:22:39,040 Speaker 2: to point four that looked much better. The Census Bureau 378 00:22:39,080 --> 00:22:42,200 Speaker 2: is still catching up on data releases following the delays 379 00:22:42,240 --> 00:22:44,560 Speaker 2: caused by last year's government shutdown. 380 00:22:44,840 --> 00:22:46,680 Speaker 1: Now, let's take a moment here. 381 00:22:47,400 --> 00:22:52,240 Speaker 2: Okay, the Schumer shutdown began October the first and then 382 00:22:52,480 --> 00:22:57,399 Speaker 2: ended November twelfth, and here we are on March sixteenth, 383 00:22:57,480 --> 00:23:01,240 Speaker 2: March eighteenth, when this story was written, and they're talking 384 00:23:01,280 --> 00:23:06,959 Speaker 2: about still catching up on data releases following delays caused 385 00:23:06,960 --> 00:23:10,800 Speaker 2: by last year's government shutdown. So that forty three day 386 00:23:11,119 --> 00:23:16,160 Speaker 2: Schumer shut down in from October to November the twelfth, 387 00:23:16,480 --> 00:23:21,639 Speaker 2: we're talking about on into December, January, February, and now 388 00:23:21,720 --> 00:23:26,960 Speaker 2: into March. Four months later, they are still revising and 389 00:23:27,040 --> 00:23:31,359 Speaker 2: still having problems with the data collection over that four 390 00:23:31,359 --> 00:23:36,199 Speaker 2: month period of time from that November the twelfth until 391 00:23:36,240 --> 00:23:39,960 Speaker 2: currently four months and they still are sifting through the 392 00:23:40,040 --> 00:23:42,720 Speaker 2: data to get the data right. That's why I said 393 00:23:42,840 --> 00:23:46,600 Speaker 2: yesterday and why I keep saying that once all this stuff, 394 00:23:46,640 --> 00:23:49,800 Speaker 2: and it's amazing to me that it takes four months 395 00:23:49,880 --> 00:23:53,200 Speaker 2: in terms of either the bureaucracy or the reporting where 396 00:23:53,200 --> 00:23:56,720 Speaker 2: they're getting their information, going backtracking or whatever it is 397 00:23:56,840 --> 00:23:59,280 Speaker 2: in order to come up with accurate details. But if 398 00:23:59,280 --> 00:24:04,120 Speaker 2: it's taking them four months again in here, still catching 399 00:24:04,200 --> 00:24:07,960 Speaker 2: up on data releases following delays, caused by last year's 400 00:24:08,000 --> 00:24:12,000 Speaker 2: government shutdown. When all that is sifted through, I wonder 401 00:24:12,080 --> 00:24:15,480 Speaker 2: what they're going to uncover. I wonder what they've missed 402 00:24:15,800 --> 00:24:18,440 Speaker 2: in terms of the data. If they're getting data, let's 403 00:24:18,440 --> 00:24:20,880 Speaker 2: say they're getting data from I don't know, say let's 404 00:24:20,880 --> 00:24:23,840 Speaker 2: pick a number twenty five different sources. And if the 405 00:24:23,920 --> 00:24:27,120 Speaker 2: twenty five different sources they're sifting through that they've only 406 00:24:27,160 --> 00:24:30,399 Speaker 2: got twenty of those and they're still sifting through the data. 407 00:24:30,800 --> 00:24:33,760 Speaker 2: When they find the other five, it may change completely 408 00:24:33,840 --> 00:24:36,320 Speaker 2: what they've been reporting. And I think that when we 409 00:24:36,359 --> 00:24:38,680 Speaker 2: talk about GDP and some of these numbers that we're 410 00:24:38,720 --> 00:24:42,960 Speaker 2: seeing from the Census Bureau, Commerce Department, Bureau of Labor Statistics, 411 00:24:43,160 --> 00:24:46,560 Speaker 2: Bureau of Economic Advisor, all these things, we're going to 412 00:24:46,640 --> 00:24:48,840 Speaker 2: find some things in there that is going to be 413 00:24:48,840 --> 00:24:51,920 Speaker 2: better and more positive than what has been being reported. 414 00:24:51,960 --> 00:24:54,919 Speaker 2: So that's just my two cents worth making that prediction now, 415 00:24:54,920 --> 00:24:57,840 Speaker 2: and we'll see what happens. Manufacturing, which accounts for ten 416 00:24:57,920 --> 00:25:01,200 Speaker 2: percent of the economy, has been hammered by President Donald 417 00:25:01,240 --> 00:25:05,119 Speaker 2: Trump's sweeping tariffs. No indication of that, because factory orders 418 00:25:05,119 --> 00:25:08,040 Speaker 2: are up, manufacturing is up, and so on. We've been 419 00:25:08,040 --> 00:25:13,280 Speaker 2: seeing these positive signs in the manufacturing sector. Now factories 420 00:25:13,320 --> 00:25:16,919 Speaker 2: face more cost pressures from US Israeli war with Iran 421 00:25:17,880 --> 00:25:20,959 Speaker 2: and sent oil prices surging more than forty percent. 422 00:25:21,359 --> 00:25:22,800 Speaker 1: Okay, that's to be expected. 423 00:25:23,080 --> 00:25:25,560 Speaker 2: Trump has defended the tariffs which have been struck down 424 00:25:25,600 --> 00:25:29,680 Speaker 2: by the US Supreme Court, has necessary to protect domestic manufacturing. 425 00:25:30,119 --> 00:25:31,960 Speaker 1: Well, again, if. 426 00:25:31,800 --> 00:25:35,080 Speaker 2: They're charging more on our goods going into their country 427 00:25:35,359 --> 00:25:38,920 Speaker 2: and we're hardly charging anything, reciprocal tariffs, you would think 428 00:25:38,960 --> 00:25:42,159 Speaker 2: would be the key to that because puts us on 429 00:25:42,280 --> 00:25:46,600 Speaker 2: a fair playing field, not a free trade playing field, 430 00:25:46,800 --> 00:25:50,720 Speaker 2: but a fair trade playing field. And we've talked about 431 00:25:50,760 --> 00:25:53,480 Speaker 2: that several times during the as far as this show 432 00:25:53,520 --> 00:25:54,080 Speaker 2: is concerned. 433 00:25:54,359 --> 00:25:55,080 Speaker 1: And then they. 434 00:25:54,960 --> 00:25:58,480 Speaker 2: Say that even though the manufacturing sector has been concentrated 435 00:25:58,640 --> 00:26:02,080 Speaker 2: and that this is being affected that manufacturing though, let 436 00:26:02,119 --> 00:26:06,520 Speaker 2: me see, protect manufacturing were the purpose of the terriffs. 437 00:26:06,680 --> 00:26:10,200 Speaker 2: They say, though one hundred thousand factory jobs have been 438 00:26:10,240 --> 00:26:14,320 Speaker 2: lost since January the twenty twenty five. What's interesting is 439 00:26:14,320 --> 00:26:15,879 Speaker 2: is we haven't seen that show up in any of 440 00:26:15,880 --> 00:26:18,640 Speaker 2: the data. We haven't seen any mass layoffs, we haven't 441 00:26:18,680 --> 00:26:22,840 Speaker 2: seen a discussion here or there in the unemployment numbers. 442 00:26:22,880 --> 00:26:25,399 Speaker 2: We've been seeing the initial jobless claims that have been 443 00:26:25,440 --> 00:26:28,600 Speaker 2: coming through that have been in a steady range of 444 00:26:28,640 --> 00:26:33,119 Speaker 2: what they considered confident between what is it, one hundred, 445 00:26:33,160 --> 00:26:35,560 Speaker 2: they've lowered that even further, between one hundred and ninety 446 00:26:35,600 --> 00:26:38,840 Speaker 2: thousand and two hundred and fifty thousand. That as long 447 00:26:38,880 --> 00:26:41,800 Speaker 2: as the unemployment the initial claims are within that range, 448 00:26:41,920 --> 00:26:45,520 Speaker 2: things are pretty decent. And through the entire month, or 449 00:26:45,560 --> 00:26:48,359 Speaker 2: through all the entire twenty twenty five and up to 450 00:26:48,400 --> 00:26:53,200 Speaker 2: this point, the initial jobless claims hasn't even approached. It 451 00:26:53,240 --> 00:26:55,320 Speaker 2: got up as high as two hundred and forty two 452 00:26:55,359 --> 00:26:59,240 Speaker 2: thousand in one week, but then fell back down twenty 453 00:26:59,280 --> 00:27:02,960 Speaker 2: some thousand below that and has been in the low 454 00:27:03,160 --> 00:27:05,760 Speaker 2: two hundred thousands for most of that period of time. 455 00:27:05,840 --> 00:27:08,480 Speaker 2: So I'm not sure where they're coming up with this number, 456 00:27:08,800 --> 00:27:10,840 Speaker 2: and I'm not sure that they can even back it up. 457 00:27:11,080 --> 00:27:13,800 Speaker 2: Factory goods orders were in January, supported by increases in 458 00:27:13,880 --> 00:27:17,160 Speaker 2: machinery and primary metals, as well a demand for computers, 459 00:27:17,200 --> 00:27:21,280 Speaker 2: electronic products, et cetera, but orders for electrical equipment, appliances 460 00:27:21,280 --> 00:27:24,240 Speaker 2: and components fell by point six percent, while those for 461 00:27:24,320 --> 00:27:28,360 Speaker 2: transportation equipment drop point eight is demand for defense aircraft 462 00:27:28,359 --> 00:27:31,399 Speaker 2: and parts tumbled twenty three point eight percent. Well, I 463 00:27:31,400 --> 00:27:34,320 Speaker 2: would imagine in the coming months, with the wear and 464 00:27:34,359 --> 00:27:37,080 Speaker 2: tear on some of our airplanes and stuff, and with 465 00:27:37,160 --> 00:27:39,359 Speaker 2: his war in Iran, that some of those numbers are 466 00:27:39,359 --> 00:27:41,800 Speaker 2: going to be coming up since. Apiro also reported that 467 00:27:42,000 --> 00:27:45,680 Speaker 2: orders for non defense capital goods excluding aircraft, which have 468 00:27:45,760 --> 00:27:48,119 Speaker 2: been seen as a measure of business spending plan or 469 00:27:48,160 --> 00:27:51,680 Speaker 2: in equipment, ticked up point one percent in January. So again, 470 00:27:51,960 --> 00:27:54,959 Speaker 2: some very good news there, and at least it's on 471 00:27:55,000 --> 00:27:58,280 Speaker 2: the positive side and not the negative side. Store. I've 472 00:27:58,280 --> 00:28:00,440 Speaker 2: been wanting to get to since pretty very much the 473 00:28:00,480 --> 00:28:03,480 Speaker 2: beginning of the week, and quite honestly. 474 00:28:03,400 --> 00:28:05,320 Speaker 1: I don't this story. 475 00:28:05,760 --> 00:28:08,640 Speaker 2: The title is thousands of immigrant truck drivers to begin 476 00:28:08,760 --> 00:28:12,080 Speaker 2: losing licenses, And you may recall back in February of 477 00:28:12,119 --> 00:28:17,240 Speaker 2: the eleventh, Sean Duffy put out a proclamation in course 478 00:28:17,480 --> 00:28:21,720 Speaker 2: last year with looking at a lot of these accidents 479 00:28:21,800 --> 00:28:26,400 Speaker 2: were happening with these illegal immigrants and English language proficiency, 480 00:28:26,680 --> 00:28:30,280 Speaker 2: and the problems we were seeing there led to numerous deaths, 481 00:28:30,359 --> 00:28:34,800 Speaker 2: numerous accidents and so on. Back in January of last year, 482 00:28:35,080 --> 00:28:38,280 Speaker 2: January February, was it, Trump said we want to take 483 00:28:38,280 --> 00:28:43,680 Speaker 2: a look at these especially English language proficiency, which the 484 00:28:43,800 --> 00:28:48,320 Speaker 2: FMCSA it's always been on their books, and it should 485 00:28:48,400 --> 00:28:51,400 Speaker 2: be on the books and should be enforced because how 486 00:28:51,400 --> 00:28:54,800 Speaker 2: can you have people driving around on roads that can't 487 00:28:54,880 --> 00:28:55,760 Speaker 2: read the signs. 488 00:28:55,960 --> 00:28:59,920 Speaker 1: So anyway, this was began back in what was it. 489 00:29:01,600 --> 00:29:04,960 Speaker 2: March or April of last year that proclamations came down 490 00:29:05,000 --> 00:29:07,920 Speaker 2: from Sean Duffy in terms of these driving schools and 491 00:29:08,720 --> 00:29:11,440 Speaker 2: looking at some of these driver's license and so on, 492 00:29:11,840 --> 00:29:15,080 Speaker 2: and then they put forth this proclamation that this was 493 00:29:15,080 --> 00:29:20,480 Speaker 2: supposed to take effect on March the sixteenth, which was Monday. 494 00:29:20,920 --> 00:29:23,040 Speaker 2: And it's interesting reading some of these stories because I 495 00:29:23,040 --> 00:29:25,520 Speaker 2: had to dig into it because they keep saying some 496 00:29:25,520 --> 00:29:29,600 Speaker 2: two hundred thousand truck drivers will begin losing their commercial 497 00:29:29,640 --> 00:29:33,200 Speaker 2: driver's license as they expire under new Trump administration rule 498 00:29:33,240 --> 00:29:36,280 Speaker 2: that takes effect Monday. Well, the story was written on Monday, 499 00:29:36,320 --> 00:29:38,640 Speaker 2: so you know, was it that Monday or is it 500 00:29:38,720 --> 00:29:41,960 Speaker 2: Monday following or whatever? But actually it went into effect 501 00:29:41,960 --> 00:29:45,960 Speaker 2: March the sixteenth. Transportation Apartment rule will weigh on the 502 00:29:46,040 --> 00:29:50,719 Speaker 2: beleaguered trucking industry. Now this story is very biased, and 503 00:29:50,800 --> 00:29:53,120 Speaker 2: so it's going to be interesting going through this, But 504 00:29:53,120 --> 00:29:54,600 Speaker 2: we're going to spend a little bit of time on 505 00:29:54,640 --> 00:29:57,280 Speaker 2: this going forward, and then we'll get to oil and 506 00:29:57,320 --> 00:30:00,000 Speaker 2: gas prices coming up. We'll be talking about this story 507 00:30:00,080 --> 00:30:02,560 Speaker 2: and then oil and gas prices. I'm Kevin Gordon, America's 508 00:30:02,560 --> 00:30:10,000 Speaker 2: Trucking Network, seven hundred WLW. This is America's Trucking Network, 509 00:30:10,240 --> 00:30:13,400 Speaker 2: seven hundred W l W. We mentioned in the prior segment, 510 00:30:13,400 --> 00:30:17,160 Speaker 2: on previous segment that this story thousands of immigrant truck 511 00:30:17,200 --> 00:30:20,360 Speaker 2: drivers to begin losing licenses. Now, if you didn't hear 512 00:30:20,480 --> 00:30:22,680 Speaker 2: any of that or any of our previous shows, make 513 00:30:22,720 --> 00:30:24,800 Speaker 2: sure you hit up that iHeartRadio app brought to you 514 00:30:24,800 --> 00:30:27,160 Speaker 2: by our friends at Rust Truck Centers, and we certainly 515 00:30:27,160 --> 00:30:31,160 Speaker 2: appreciate that. So, some two hundred thousand immigrant truck drivers 516 00:30:31,200 --> 00:30:35,040 Speaker 2: will begin losing their commercial driver's license if they expire 517 00:30:35,840 --> 00:30:39,120 Speaker 2: or when they expire as they expire under Trump's Administration's 518 00:30:39,200 --> 00:30:42,640 Speaker 2: rule to take the took effect last Monday. Trash Station 519 00:30:42,680 --> 00:30:46,280 Speaker 2: Department will weigh let me see, Trash Station's rule will 520 00:30:46,320 --> 00:30:50,560 Speaker 2: weigh on the beliguered trucking industry, which is critical to 521 00:30:49,920 --> 00:30:54,280 Speaker 2: transporting goods across America at a time when energy costs 522 00:30:54,400 --> 00:30:57,640 Speaker 2: and surging or surging due to the war in Iraq. Now, 523 00:30:57,680 --> 00:30:59,960 Speaker 2: all of a sudden, they are concerned about the American 524 00:31:00,040 --> 00:31:04,800 Speaker 2: truck driver or the actual trucking industry at all. Whereas 525 00:31:04,920 --> 00:31:07,920 Speaker 2: you know, ever since the end of the pandemic, all 526 00:31:07,960 --> 00:31:10,160 Speaker 2: of a sudden, the trucking industry, you know, just didn't 527 00:31:10,200 --> 00:31:13,960 Speaker 2: matter because you know, you guys were no longer. But 528 00:31:14,240 --> 00:31:16,360 Speaker 2: I guess part of the news so to speak, that 529 00:31:17,240 --> 00:31:20,120 Speaker 2: keeping the shelves full. Apparently they forgot all about that, 530 00:31:20,280 --> 00:31:24,000 Speaker 2: and falling back to disrespect to the trucking industry, the 531 00:31:24,080 --> 00:31:28,600 Speaker 2: rural bars immigrants who are asylum seekers, refugees, or recipients 532 00:31:28,640 --> 00:31:33,560 Speaker 2: of Deferred Action on Childhood arrival or DAKA from obtaining 533 00:31:33,600 --> 00:31:37,440 Speaker 2: commercial driver's license. And it's part of the Trump administration's 534 00:31:37,480 --> 00:31:42,320 Speaker 2: widening campaign against immigrant truck drivers. No, it's a just 535 00:31:42,440 --> 00:31:47,120 Speaker 2: a campaign against illegal immigrant truck drivers. See, this is 536 00:31:47,160 --> 00:31:50,440 Speaker 2: the thing when controlling the language, when you start dropping 537 00:31:50,440 --> 00:31:55,240 Speaker 2: words or just saying immigrants, then you're not differentiating between 538 00:31:55,360 --> 00:31:59,880 Speaker 2: illegal immigrants and legal immigrants. And this whole nonsense of 539 00:32:00,520 --> 00:32:03,479 Speaker 2: allowing illegals or people that aren't part of you know 540 00:32:03,560 --> 00:32:08,600 Speaker 2: that that are here illegally to obtain benefits within this country. 541 00:32:08,920 --> 00:32:11,840 Speaker 2: I mean, what again, if you if you know people 542 00:32:11,920 --> 00:32:15,680 Speaker 2: that have either tried to move overseas or have family overseas, 543 00:32:16,520 --> 00:32:19,640 Speaker 2: that you know, being transferred as part of a country 544 00:32:19,760 --> 00:32:22,400 Speaker 2: or a company transfer promotion. 545 00:32:22,600 --> 00:32:24,440 Speaker 1: Whatever the hoops they have to. 546 00:32:24,520 --> 00:32:28,360 Speaker 2: Jump through in order to emigrate into those countries is 547 00:32:28,480 --> 00:32:31,720 Speaker 2: absolutely amazing. Not only do you have to prove that 548 00:32:31,760 --> 00:32:34,840 Speaker 2: you can sustain yourself, that you're not going to be 549 00:32:34,840 --> 00:32:37,800 Speaker 2: a drain on their social services, but then you have 550 00:32:37,920 --> 00:32:38,960 Speaker 2: to also. 551 00:32:39,280 --> 00:32:41,240 Speaker 1: Learn the language, and they. 552 00:32:41,200 --> 00:32:44,080 Speaker 2: Give you a specific period of time in order to 553 00:32:44,200 --> 00:32:45,320 Speaker 2: learn that language. 554 00:32:45,480 --> 00:32:46,920 Speaker 1: And even if. 555 00:32:46,680 --> 00:32:50,320 Speaker 2: You're a productive member of society, even if you're paying 556 00:32:50,400 --> 00:32:53,560 Speaker 2: their taxes, even if you're not taking advantage of any 557 00:32:53,600 --> 00:32:57,040 Speaker 2: of their social services, whatsoever, if you don't learn the language, 558 00:32:57,120 --> 00:32:59,480 Speaker 2: they can kick you out of that country. And so 559 00:32:59,800 --> 00:33:02,360 Speaker 2: if if you're not moving towards a pathway to either 560 00:33:02,440 --> 00:33:06,320 Speaker 2: citizenship or at least being able to speak the language 561 00:33:06,560 --> 00:33:09,680 Speaker 2: and assimilate, they don't want you in the country. And 562 00:33:09,760 --> 00:33:13,080 Speaker 2: yet we here, we allow people to come in here 563 00:33:13,280 --> 00:33:19,000 Speaker 2: and actually give them commercial driver's licenses. That's insanity. So again, 564 00:33:19,720 --> 00:33:22,840 Speaker 2: the way this story is written is very biased. Those 565 00:33:22,880 --> 00:33:27,120 Speaker 2: with valid commercial driver's license will lose their driving privileges 566 00:33:27,240 --> 00:33:29,400 Speaker 2: as their licenses expire. 567 00:33:29,680 --> 00:33:31,240 Speaker 1: Not immediately. 568 00:33:31,760 --> 00:33:36,960 Speaker 2: Now the term valid commercial driver's licenses? Are they valid? 569 00:33:37,440 --> 00:33:40,640 Speaker 2: Did they get them properly? If you don't have English 570 00:33:40,720 --> 00:33:45,120 Speaker 2: language proficiency, how can you learn the stuff necessary to 571 00:33:45,240 --> 00:33:48,719 Speaker 2: drive a truck? Do you have the necessary skills? Do 572 00:33:48,760 --> 00:33:51,840 Speaker 2: you have the safety inspections? Were these driving schools that 573 00:33:51,920 --> 00:33:55,480 Speaker 2: you went to actually accredited or are they accredited self 574 00:33:55,480 --> 00:33:58,760 Speaker 2: accreditating themselves or is it just you pay them a 575 00:33:58,760 --> 00:34:01,240 Speaker 2: fee and they issue it commercial driver's license. 576 00:34:01,480 --> 00:34:03,560 Speaker 1: These are the things that need to be weeded out. 577 00:34:03,800 --> 00:34:05,960 Speaker 2: And yes, there are going to be some people caught 578 00:34:06,040 --> 00:34:08,960 Speaker 2: up in this, and of course they have to concentrate 579 00:34:09,280 --> 00:34:12,640 Speaker 2: on one particular person that is going to be affected 580 00:34:12,680 --> 00:34:15,319 Speaker 2: by this, and it's one of these sob stories. Now, 581 00:34:15,480 --> 00:34:18,839 Speaker 2: to a certain extent, I feel this guy's pain. I 582 00:34:18,960 --> 00:34:22,799 Speaker 2: understand what he's going through, et cetera. But again, with 583 00:34:22,840 --> 00:34:25,560 Speaker 2: what has been going on in the trucking industry, I 584 00:34:25,600 --> 00:34:29,600 Speaker 2: don't understand how this is. You know, on the one hand, 585 00:34:29,640 --> 00:34:32,680 Speaker 2: I can understand that there are certain people that deserve 586 00:34:32,800 --> 00:34:35,640 Speaker 2: to have these driver's licenses, but there's a whole bunch 587 00:34:35,719 --> 00:34:43,040 Speaker 2: that don't they concentrate on this Aleski semen Semenovski, forty 588 00:34:43,080 --> 00:34:47,000 Speaker 2: one Pennsylvania has from Pennsylvania, has driven long haul trucks 589 00:34:47,000 --> 00:34:50,600 Speaker 2: since twenty twenty and will lose his license in September. 590 00:34:51,080 --> 00:34:55,160 Speaker 2: I have completely cleaned moving forward, no accidents, no violations, 591 00:34:55,320 --> 00:34:57,600 Speaker 2: I pay taxes. Now, I didn't see the interview with 592 00:34:57,640 --> 00:35:00,600 Speaker 2: this guy. They're quoting him now if this is from 593 00:35:00,640 --> 00:35:03,480 Speaker 2: an interpreter, if he knows language, et cetera. About two 594 00:35:03,560 --> 00:35:06,399 Speaker 2: hundred thousand immigrants in the United States hold about five 595 00:35:06,440 --> 00:35:08,799 Speaker 2: percent of all commercial driver's licenses. 596 00:35:08,880 --> 00:35:09,440 Speaker 1: According to the. 597 00:35:09,360 --> 00:35:14,680 Speaker 2: Federal GREW Federal Motor Carrier Safety Administration, trucks are the 598 00:35:14,719 --> 00:35:19,560 Speaker 2: main way that goods again, finally, they're talking about trucking 599 00:35:19,600 --> 00:35:23,359 Speaker 2: again and how important the trucking industry is. Trucks are 600 00:35:23,360 --> 00:35:26,320 Speaker 2: the main way that goods from food to heavy machinery 601 00:35:26,480 --> 00:35:30,280 Speaker 2: to hazardous materials are transported within the United States, moving 602 00:35:30,280 --> 00:35:33,160 Speaker 2: more than seventy percent of the nation's freight. Now, I'm 603 00:35:33,200 --> 00:35:35,800 Speaker 2: saying this because the people that listen to this program 604 00:35:35,880 --> 00:35:37,600 Speaker 2: that are not in the trucking industry, and we have 605 00:35:37,640 --> 00:35:39,960 Speaker 2: a lot of people that listen to this program and 606 00:35:40,040 --> 00:35:44,279 Speaker 2: on the podcast that are not familiar that aren't in 607 00:35:44,320 --> 00:35:47,319 Speaker 2: the trucking industry. So you folks know this, I know this, 608 00:35:47,600 --> 00:35:50,200 Speaker 2: But this is for the general consumption, seventy percent of 609 00:35:50,200 --> 00:35:53,000 Speaker 2: the nation's freight. I would say that, well, first of all, 610 00:35:53,000 --> 00:35:56,160 Speaker 2: that number should is more like seventy four seventy five percent. 611 00:35:56,640 --> 00:35:59,279 Speaker 2: But also when you take into consideration that all of 612 00:35:59,320 --> 00:36:02,840 Speaker 2: the products, pretty much almost one hundred percent of project products, 613 00:36:02,880 --> 00:36:06,280 Speaker 2: at some point in time touch a truck, whether they're. 614 00:36:06,120 --> 00:36:07,040 Speaker 1: Delivered or whatever. 615 00:36:07,160 --> 00:36:09,120 Speaker 2: There's a whole lot of stuff behind the scenes that 616 00:36:09,120 --> 00:36:13,880 Speaker 2: are delivered to service industries, hotels, hospitals, et cetera, that 617 00:36:13,960 --> 00:36:16,120 Speaker 2: are brought to them by a truck, and that doesn't 618 00:36:16,120 --> 00:36:19,200 Speaker 2: show up in those retail numbers. But again, seventy percent 619 00:36:19,200 --> 00:36:22,040 Speaker 2: of the nation's freight, according to a trade group, with 620 00:36:22,120 --> 00:36:26,000 Speaker 2: long hours, low pay, dangerous road conditions, and extended periods 621 00:36:26,000 --> 00:36:30,160 Speaker 2: away from home. Okay, all right, dangerous road conditions. Who's 622 00:36:30,200 --> 00:36:32,960 Speaker 2: causing that? Is that the states and the federal government 623 00:36:33,600 --> 00:36:36,120 Speaker 2: not keeping up with our roads. Yes, so why don't 624 00:36:36,160 --> 00:36:39,920 Speaker 2: you guys concentrate and fix that as well? Long hours 625 00:36:39,960 --> 00:36:42,440 Speaker 2: away from home, low pay and so on? Why is 626 00:36:42,480 --> 00:36:45,120 Speaker 2: it low pay? Is it because that a lot of 627 00:36:45,160 --> 00:36:48,000 Speaker 2: the illegal immigrants and a lot of the people that 628 00:36:48,040 --> 00:36:50,359 Speaker 2: will work for low pay will come in and take 629 00:36:50,400 --> 00:36:54,680 Speaker 2: these jobs. Is that being concentrated on And again, are 630 00:36:54,719 --> 00:36:58,640 Speaker 2: they qualified to even hold those jobs in particular? And 631 00:36:58,719 --> 00:37:01,400 Speaker 2: so you know, they don't seem to be worried about 632 00:37:01,440 --> 00:37:03,800 Speaker 2: this information, and they don't seem to be worried about 633 00:37:03,960 --> 00:37:07,160 Speaker 2: these wages and stuff like that when it comes to 634 00:37:08,440 --> 00:37:13,560 Speaker 2: dock workers, auto workers, ups drivers, They don't seem to 635 00:37:13,600 --> 00:37:16,279 Speaker 2: be worried about the pay and the effect on the 636 00:37:16,320 --> 00:37:19,600 Speaker 2: economy that way. So maybe they should be pushing for 637 00:37:19,840 --> 00:37:23,080 Speaker 2: any increase and making sure that truck drivers have a 638 00:37:23,120 --> 00:37:26,360 Speaker 2: decent salary and wage that they're not trying always constant, 639 00:37:26,640 --> 00:37:29,680 Speaker 2: always concentrating on pushing those rates down so that it 640 00:37:29,680 --> 00:37:32,120 Speaker 2: makes more difficult for people to earn a living in 641 00:37:32,160 --> 00:37:36,360 Speaker 2: that profession. Under the rule announced February eleventh, immigrants with 642 00:37:36,400 --> 00:37:39,160 Speaker 2: a variety of temporary protections would no longer be able 643 00:37:39,160 --> 00:37:42,279 Speaker 2: to obtain commercial driver's license, regardless of whether they are 644 00:37:42,320 --> 00:37:46,799 Speaker 2: authorized to work in the United States. For far too long, 645 00:37:46,840 --> 00:37:50,200 Speaker 2: of course, is quote from Sean Duffy. For far too long, 646 00:37:50,239 --> 00:37:53,680 Speaker 2: Americas have allowed dangerous foreign drivers to abuse our truck 647 00:37:53,760 --> 00:37:58,000 Speaker 2: licensing systems. Now again, there has been abuses, and then 648 00:37:58,040 --> 00:38:01,040 Speaker 2: there have been that have actually come through the channels 649 00:38:01,080 --> 00:38:05,200 Speaker 2: properly and that are properly and actually have taken the test. 650 00:38:05,560 --> 00:38:08,280 Speaker 2: Since last summer of the Trump administration highlighted a spate 651 00:38:08,680 --> 00:38:12,440 Speaker 2: of fatal accidents involving immigrant truck drivers to push the 652 00:38:12,480 --> 00:38:15,520 Speaker 2: new rules and restrictions. Opponents of the rules say that 653 00:38:15,560 --> 00:38:20,440 Speaker 2: Trump administration is discriminating against immigrant immigrants. No, they're discriminating 654 00:38:20,440 --> 00:38:23,120 Speaker 2: against illegal immigrants, which by the way, shouldn't be here 655 00:38:23,160 --> 00:38:25,120 Speaker 2: in the first place. And of course they're talking to 656 00:38:25,239 --> 00:38:28,920 Speaker 2: sob stories in terms of the different trade groups or 657 00:38:28,960 --> 00:38:32,200 Speaker 2: the people that are trying to push for illegal immigrants. 658 00:38:32,400 --> 00:38:36,880 Speaker 2: The recent months, the administration clamped down on Yeah, I 659 00:38:36,920 --> 00:38:39,960 Speaker 2: love this. In recent months the administration clamped down on 660 00:38:40,000 --> 00:38:44,240 Speaker 2: immigrant truck drivers, has accelerated transportation departments strength and rules 661 00:38:44,400 --> 00:38:46,879 Speaker 2: and enforcement of English language requirements. 662 00:38:47,280 --> 00:38:49,280 Speaker 1: No, this is not clamping down. 663 00:38:49,480 --> 00:38:52,600 Speaker 2: This is enforcement of existing rules that have been there 664 00:38:52,680 --> 00:38:55,480 Speaker 2: on the books that have been ignored going back to 665 00:38:55,520 --> 00:39:00,759 Speaker 2: the Obama administration when they started not in forcing the 666 00:39:00,760 --> 00:39:04,160 Speaker 2: English language proficiency, which has led to some of these problems. 667 00:39:04,360 --> 00:39:08,279 Speaker 2: Louis Pugh, Vice President, Owner Operators Independent Drivers Association trade 668 00:39:08,320 --> 00:39:10,759 Speaker 2: group representing more than one hundred and thirty small truck 669 00:39:10,800 --> 00:39:14,920 Speaker 2: driver companies and independent drivers, said that he supports the 670 00:39:15,000 --> 00:39:17,719 Speaker 2: rule because it will make the highways safer and said 671 00:39:17,760 --> 00:39:22,320 Speaker 2: deregulation has drawn more poorly trained immigrants into the industry 672 00:39:22,640 --> 00:39:25,560 Speaker 2: and lower barriers for entry. I'm not sure that I 673 00:39:25,600 --> 00:39:29,160 Speaker 2: completely agree with. I mean, this overall is something that 674 00:39:29,320 --> 00:39:33,399 Speaker 2: has to be looked at. They focus on this one 675 00:39:33,880 --> 00:39:36,880 Speaker 2: Russian asylum seeker that came over here with his family 676 00:39:36,920 --> 00:39:40,000 Speaker 2: with justice suitcase, a couple of suitcases. He was an 677 00:39:39,960 --> 00:39:44,000 Speaker 2: attorney over in Russia, fled seeking asylum here, has come 678 00:39:44,080 --> 00:39:48,440 Speaker 2: and apparently done things the right way. Catching him in 679 00:39:48,480 --> 00:39:51,360 Speaker 2: this net is a bad thing. But all the others 680 00:39:51,400 --> 00:39:56,120 Speaker 2: when we see six thousand people that have been unqualified 681 00:39:56,160 --> 00:39:59,960 Speaker 2: in terms in justin California as far as getting drivers 682 00:40:00,160 --> 00:40:04,680 Speaker 2: license illegally, three thousand in another state, five thousand over 683 00:40:04,719 --> 00:40:08,040 Speaker 2: in this state. Clamping down on that, yes, you were 684 00:40:08,080 --> 00:40:10,640 Speaker 2: going to entrap or you're going to catch in the 685 00:40:10,680 --> 00:40:13,680 Speaker 2: net some of these people that have done this properly. 686 00:40:14,080 --> 00:40:17,000 Speaker 2: What should be done in at least a first step, 687 00:40:17,000 --> 00:40:19,520 Speaker 2: and we'll talk about this more in the coming weeks, 688 00:40:20,080 --> 00:40:23,440 Speaker 2: is that when somebody comes up for their license renewal, 689 00:40:24,239 --> 00:40:26,680 Speaker 2: they should go through the testing process to make sure 690 00:40:26,719 --> 00:40:30,200 Speaker 2: that their English language proficiency proper, take them out on 691 00:40:30,239 --> 00:40:31,880 Speaker 2: a driving course to see if they know how to 692 00:40:31,960 --> 00:40:34,840 Speaker 2: drive the course, and maybe do a written test to 693 00:40:34,840 --> 00:40:38,400 Speaker 2: see if they qualify and if they do, renew that license. 694 00:40:38,520 --> 00:40:40,400 Speaker 2: So anyway, we'll talk a lot more about this. We 695 00:40:40,400 --> 00:40:42,280 Speaker 2: didn't have a chance to get to oil and gas prices, 696 00:40:42,520 --> 00:40:46,480 Speaker 2: what's going on there. Things have kind of settled down 697 00:40:46,480 --> 00:40:48,520 Speaker 2: a little bit, but still kind of up in the air. 698 00:40:48,680 --> 00:40:51,720 Speaker 2: We'll talk about that tomorrow. Stay tuned for Reedi Radio 699 00:40:51,800 --> 00:40:54,000 Speaker 2: Top of the Art. I'm Kevin Gordon, America struck In 700 00:40:54,080 --> 00:40:57,120 Speaker 2: Network seven hundred WLW