WEBVTT - 12-12-25 America's Truckin' Network 0:00:02.279 --> 0:00:08.200 This is America's Truncking Network with Kevin Gordon. Welcome aboard, 0:00:08.400 --> 0:00:11.799 Thanks for tuning in on this Friday morning. We've got 0:00:11.800 --> 0:00:14.040 to start off with a little bit of a weather alert, 0:00:14.400 --> 0:00:17.120 give you a heads up. We'll have the full forecast 0:00:17.160 --> 0:00:20.720 at the bottom of the hour. Significant and catastrophic flooding 0:00:20.800 --> 0:00:25.920 in the Pacific Northwest, very cold temperatures in the northern plains. 0:00:26.600 --> 0:00:31.920 Lingering rainfall from yesterday's atmospheric river over the Pacific Northwest 0:00:32.080 --> 0:00:38.920 exacerbates ongoing catastrophic major river flooding and landslides, which will 0:00:38.920 --> 0:00:44.159 continue across portions of western Washington and northwest Oregon for 0:00:44.240 --> 0:00:50.080 several days. Arctic air will plummet southward into the northern plains, 0:00:50.120 --> 0:00:55.400 bringing temperatures in the single digits to the region today. Now, 0:00:55.480 --> 0:00:58.440 in the Greater Cincinni Northern Kentucky area, we are expecting, 0:00:58.520 --> 0:01:02.440 or they're been telling us that buy later on this morning, 0:01:02.880 --> 0:01:05.080 we should well. The people will be waking up at 0:01:05.280 --> 0:01:08.240 five six o'clock in the morning, they'll be seeing anywhere 0:01:08.280 --> 0:01:11.120 from three to five inches of snow. So it's going 0:01:11.160 --> 0:01:14.440 to be interesting as far as what's going on there. 0:01:14.480 --> 0:01:16.200 Of course, the morning commute might be a little bit 0:01:16.200 --> 0:01:19.119 difficult in the Greater Sinsaye Northern Kentucky area. But again, 0:01:19.520 --> 0:01:21.920 stay tuned to your weather alerts. Make sure that you're 0:01:22.000 --> 0:01:24.080 up to date on that. If you're going through an 0:01:24.080 --> 0:01:27.000 area you're not familiar with, make sure you're tuning into that. 0:01:27.280 --> 0:01:29.360 If you see something that is not part of the 0:01:29.600 --> 0:01:32.400 weather report, let the people behind you know what's going on, 0:01:32.480 --> 0:01:34.640 and hopefully the people in front of you will let 0:01:34.760 --> 0:01:38.600 you know what's going on. Because, as I've said numerous times, 0:01:38.920 --> 0:01:42.200 job one is getting home safe. So let's have a 0:01:42.240 --> 0:01:46.039 safe trip out there. We got initial job as claims. 0:01:46.080 --> 0:01:50.960 Every Thursday, initial jobless claims comes out. Okay, Now, again 0:01:51.160 --> 0:01:55.280 this affects the trucking industry because you know, if people 0:01:55.320 --> 0:01:58.280 are unemployed, they're not going to be buying as much 0:01:58.360 --> 0:02:00.800 and then therefore there's not going to be the need 0:02:00.880 --> 0:02:03.920 to deliver stuff to the stores, which then would cut 0:02:03.960 --> 0:02:05.480 down on the number of trips that you have to 0:02:05.480 --> 0:02:09.280 make and affect the trucking industry. And ever since Liberation 0:02:09.440 --> 0:02:12.000 Day on April to second, they kept talking about, well, 0:02:12.040 --> 0:02:13.960 you know, we're gonna see a recession. We're gonna see 0:02:14.000 --> 0:02:17.040 you you know, the inflation's going to go out of 0:02:17.040 --> 0:02:19.520 control because these tariffs are going to go. And oh, 0:02:19.560 --> 0:02:24.239 by the way, there is a show where these two 0:02:24.280 --> 0:02:28.680 guys are talking about tariffs, and I got to. 0:02:28.639 --> 0:02:32.399 Tell you that two of them have no clue what 0:02:32.440 --> 0:02:33.760 the hell they're talking about. 0:02:33.840 --> 0:02:36.960 I won't mention their names, but it was I was 0:02:37.040 --> 0:02:40.680 listening to it the other day and I just it 0:02:40.760 --> 0:02:43.200 was one of those things where when you hear something, 0:02:43.280 --> 0:02:46.280 you just you want to jump through the phone and say, 0:02:46.320 --> 0:02:49.320 are you guys even know what the hell you're talking about? 0:02:50.600 --> 0:02:51.600 The stuff that you're. 0:02:51.440 --> 0:02:55.440 Saying just doesn't make any sense, and you really obviously 0:02:55.520 --> 0:02:58.840 don't know anything about economics. So do yourself a favor, 0:02:59.000 --> 0:03:00.880 don't embarrass yourself, and just shut up. 0:03:00.880 --> 0:03:02.799 But anyway, they were talking about how. 0:03:02.720 --> 0:03:06.880 Terrifts said, oh, terriffs will always every time, there's no 0:03:07.120 --> 0:03:10.320 way that it won't lead to inflation. We'll look at 0:03:10.320 --> 0:03:12.960 an economics book once in a while. You bose those 0:03:13.040 --> 0:03:16.840 because if you look at the tariffs over time, terraffs, 0:03:16.960 --> 0:03:19.040 especially in the way they're being used now, is a 0:03:19.080 --> 0:03:22.200 negotiating tool to get the teriffs lowered. On the other 0:03:22.400 --> 0:03:24.800 end of the countries that have been taking advantage of 0:03:24.880 --> 0:03:28.320 us in some instances, these tariffs will go up, and 0:03:28.360 --> 0:03:31.320 of course yes there will raise prices in certain areas, 0:03:31.400 --> 0:03:34.920 but they will lower prices in other areas, so the 0:03:35.160 --> 0:03:40.640 overall balance will be a net effect of less inflation. 0:03:41.040 --> 0:03:44.200 But yet apparently these guys don't understand that, and just 0:03:44.320 --> 0:03:47.400 infuriated me to hear that somebody was actually out there 0:03:47.440 --> 0:03:50.520 talking about that and have and so wrong. But anyway, 0:03:50.520 --> 0:03:54.120 the initial job as claims comes out every Thursday, and again, 0:03:54.360 --> 0:03:57.520 if you know people are unemployed, and going back to 0:03:57.560 --> 0:04:00.600 Liberation Day, you know there's gonna be tremendous employment. 0:04:01.040 --> 0:04:01.600 We're going to be. 0:04:01.720 --> 0:04:05.040 You know, they were forecasting and claiming, wringing their hands 0:04:05.040 --> 0:04:07.280 that there's going to be a recession, and as you recall, 0:04:07.680 --> 0:04:10.680 the stock market on that day took a big plunge. 0:04:11.080 --> 0:04:14.360 Well you know, from that day forward, not only have 0:04:14.440 --> 0:04:17.960 they recouped those losses, but they have increased since the 0:04:18.040 --> 0:04:20.839 first of the year thirty six percent. 0:04:21.000 --> 0:04:22.040 As far as the stock. 0:04:21.839 --> 0:04:24.960 Market even more than that, I believe, and day after 0:04:25.080 --> 0:04:28.480 day from time to time, there have been record numbers 0:04:28.560 --> 0:04:30.560 in the stock market. So anybody that's got a four 0:04:30.640 --> 0:04:33.279 oh one K plan, or anybody that's invested in the 0:04:33.320 --> 0:04:37.000 stock market, you are doing well, and you're if you've 0:04:37.040 --> 0:04:40.880 got your retirement money in there, you're doing pretty well 0:04:40.920 --> 0:04:44.279 at this point as far as you know the stock 0:04:44.320 --> 0:04:47.039 market and what people were talking about. Then the stock 0:04:47.120 --> 0:04:50.880 market had gone down tremendously and the people panicked, and 0:04:51.200 --> 0:04:52.880 whether they were talking about, you know, we're going to 0:04:52.960 --> 0:04:55.480 go into a recession and there's going to be rampid inflation, 0:04:55.560 --> 0:04:57.320 and they're going to be unemployment and all this sort of. 0:04:57.279 --> 0:04:59.159 Stuff, well, none of that is materialized. 0:04:59.160 --> 0:05:02.320 And as fat matter factor, have been numerous situations where 0:05:02.520 --> 0:05:06.280 you know, we keep seeing these these headlines retail sales 0:05:06.560 --> 0:05:13.320 unexpectedly higher, unemployment unexpectedly lower, job creation unexpectedly higher, and 0:05:13.440 --> 0:05:15.359 all of the things that they said we're going to 0:05:15.440 --> 0:05:19.120 happen haven't happened. And then we come into you know, 0:05:19.200 --> 0:05:22.240 jobless claims on a weekly basis, and sometimes they're up 0:05:22.240 --> 0:05:24.880 and sometimes they're down. Last week they were way down 0:05:25.560 --> 0:05:29.400 to I think three year lows, and this week, if 0:05:29.440 --> 0:05:33.120 this isn't a clear indication of what I have been 0:05:33.160 --> 0:05:36.280 saying for a number, well for a long time, I 0:05:36.480 --> 0:05:40.159 have said it on this program numerous times from the beginning. 0:05:40.440 --> 0:05:43.200 I've been saying this over the last twenty years, as 0:05:43.240 --> 0:05:44.360 a matter of fact. 0:05:44.200 --> 0:05:47.040 That the spoon fed regurgitators. 0:05:46.240 --> 0:05:48.919 In the mainstream media are not going to give you 0:05:49.080 --> 0:05:52.920 the accurate information. It's been proven as a result of 0:05:52.920 --> 0:05:55.640 what we heard about COVID. It's true what we heard 0:05:55.680 --> 0:05:59.680 about Joe Biden's mental capabilities. It's true what we heard 0:05:59.680 --> 0:06:04.120 in terms terms of any type of inflation numbers or 0:06:04.240 --> 0:06:07.560 job numbers, as far as what's going on, as far 0:06:07.600 --> 0:06:10.640 as the economy is concerned, as far as who is 0:06:10.720 --> 0:06:13.480 ahead in the polls, of the polling that they take, 0:06:13.680 --> 0:06:17.520 those are always wrong, and climate change, all the predictions 0:06:17.520 --> 0:06:20.560 that they made about climate change. And again, the spoon 0:06:20.640 --> 0:06:24.560 fed regurgitators in the mainstream media, as from the beginning 0:06:24.720 --> 0:06:27.840 of the Trump administration, they have been trying to talk 0:06:27.880 --> 0:06:31.720 down the economy and manufacture recession. Jobless claims came out 0:06:31.839 --> 0:06:36.800 yesterday and the headlines, just looking at the individual headlines 0:06:36.839 --> 0:06:41.080 from the individual companies of the different reporting sources, Reuters 0:06:41.480 --> 0:06:45.719 US weekly job claims post the largest increase in nearly 0:06:45.839 --> 0:06:47.080 four and a half years. 0:06:47.279 --> 0:06:49.480 Bloomberg US jobless. 0:06:49.120 --> 0:06:52.280 Claims jump by the most since twenty twenty or twenty 0:06:52.400 --> 0:06:57.600 after holiday drop. Let's see seeking Alpha initial job as 0:06:57.640 --> 0:07:02.760 claims jump past consensus in first week in December four 0:07:02.960 --> 0:07:06.919 X factory US job was claims surge after Thanksgiving, but 0:07:07.040 --> 0:07:11.920 low layoffs are still the prevailing trend. ABC News US 0:07:12.040 --> 0:07:16.040 jobless benefit applications jumped to two hundred and thirty six thousand, 0:07:16.360 --> 0:07:21.000 but continuing claims are falling. The best headline that described anything, 0:07:21.080 --> 0:07:24.520 and again one of those situations where you start reading 0:07:24.560 --> 0:07:26.960 the story and you wonder where the hell they came 0:07:27.040 --> 0:07:30.800 up with the headline A group called Seeking Alpha jump 0:07:31.040 --> 0:07:38.160 in initial claims signals holiday volatility rather than trouble. Now, 0:07:38.440 --> 0:07:42.600 yesterday morning, I had a doctor's appointment, which was early 0:07:42.640 --> 0:07:43.200 in the morning. 0:07:43.720 --> 0:07:44.720 I wanted to get it out of. 0:07:44.720 --> 0:07:46.400 The way because I had stuff I wanted to do. 0:07:46.680 --> 0:07:49.560 And so at eight thirty in the morning, I'm pulling 0:07:49.640 --> 0:07:53.760 up the jobles claims numbers and looking at what the 0:07:54.480 --> 0:07:58.680 headlines were, and Reuters at eight thirty in the morning, 0:07:58.760 --> 0:08:01.160 we're at about matter of fact, the date on the 0:08:01.160 --> 0:08:05.600 here says eight forty six US weekly jobless claims surge 0:08:05.760 --> 0:08:08.480 amid seasonal adjustment challenges. 0:08:08.720 --> 0:08:09.840 Not a bad headline. 0:08:09.960 --> 0:08:12.240 The number of and this is the first paragraph, the 0:08:12.360 --> 0:08:16.880 number of Americans filing new applications for unemployment benefits surge 0:08:16.960 --> 0:08:21.320 last week, but that likely reflected difficulties adjusting the data 0:08:21.360 --> 0:08:25.320 for seasonal fluctuations around this time of the year, rather 0:08:25.480 --> 0:08:28.960 than a material change in labor market conditions. 0:08:29.320 --> 0:08:31.240 And then they go and talk about the number. 0:08:31.440 --> 0:08:35.760 Two hours later, maybe three hours later, here's their new headline, 0:08:36.000 --> 0:08:40.640 same company. US weekly jobless claims posts largest increase in 0:08:40.760 --> 0:08:45.480 nearly four and a half years amid seasonal volatility. We'll 0:08:45.480 --> 0:08:49.320 get into this. It's just infuriating me. And you tell 0:08:49.400 --> 0:08:51.920 me when we get into this story, does the story 0:08:52.200 --> 0:08:55.319 match the headline. I'm Kevin Gordon, America's truck in Network 0:08:55.559 --> 0:08:57.640 seven hundred WLW. 0:08:59.320 --> 0:08:59.640 Need this. 0:09:00.000 --> 0:09:03.000 He is the racing report on America's Drugging Network on 0:09:03.120 --> 0:09:04.640 seven hundred WLW. 0:09:05.440 --> 0:09:08.280 NASCAR has reached an agreement with twenty three eleven Racing 0:09:08.320 --> 0:09:11.840 in front Row Motor Sports on Thursday, ending NASCAR's anti 0:09:11.840 --> 0:09:15.960 trust trial. On its ninth day, Teams attorney Jeffrey Kessler 0:09:16.040 --> 0:09:18.520 told Judge Kenneth Bell that he is pleased to say 0:09:18.520 --> 0:09:21.520 the parties have positively settled this matter in a way 0:09:21.520 --> 0:09:24.680 that will benefit the industry going forward. A document with 0:09:24.760 --> 0:09:27.600 the terms of the settlement was reviewed by Judge but 0:09:27.760 --> 0:09:30.679 Kenneth Bell, marking the end of the lawsuit brought by 0:09:30.760 --> 0:09:34.080 twenty three to eleven in front Row. NASCAR's anti trust 0:09:34.080 --> 0:09:37.400 trial stem from a bitter dispute over negotiations for a 0:09:37.440 --> 0:09:40.880 new agreement with the charter system that governs the relationship 0:09:40.920 --> 0:09:44.080 between NASCAR and its premier teams. Twenty three to eleven 0:09:44.120 --> 0:09:46.840 in front Row sued NASCAR Holdings for three hundred and 0:09:46.920 --> 0:09:51.360 sixty five million dollars in combined damages. Michael Jordan and 0:09:51.520 --> 0:09:53.520 Jim Franz commented on the settlement. 0:09:53.640 --> 0:09:55.839 I mean, like two competitors, obviously we try to get 0:09:56.000 --> 0:09:58.920 as much done in each other's favorite but I think 0:09:59.080 --> 0:10:02.320 you'll collect and I don't think Jim was any opposite 0:10:02.320 --> 0:10:04.760 of me. Was the fans has always been the best, 0:10:04.840 --> 0:10:06.960 you know, solution to this old proceed and to the 0:10:06.960 --> 0:10:09.200 support itself. The only way they and I've said this 0:10:09.240 --> 0:10:11.400 from d Ones, the only way this sport's going to 0:10:11.480 --> 0:10:14.079 grow is we have to find some synergy between the 0:10:14.120 --> 0:10:15.920 two minutes of each and I think we've gotten to 0:10:16.000 --> 0:10:19.560 that point. Unfortunately, it took sixteen months to get to here, 0:10:19.600 --> 0:10:22.240 but I think you know, level heads that got us 0:10:22.240 --> 0:10:24.559 to this point to where we can actually work together 0:10:24.600 --> 0:10:26.680 and grow this sport. I'm very proud about that, and 0:10:26.760 --> 0:10:28.839 I think Jim Jim feels a stream and I. 0:10:28.760 --> 0:10:31.679 Do feel the same. But you can get back to 0:10:31.840 --> 0:10:34.920 focusing and what we really love, and that's racing. And 0:10:35.760 --> 0:10:40.400 we spent a lot of time and I've then, ah, 0:10:42.400 --> 0:10:45.520 not really focused on that so much as we need 0:10:45.520 --> 0:10:48.160 the things. I feel like that we've made a very 0:10:48.200 --> 0:10:49.680 good decision here together. 0:10:51.240 --> 0:10:51.600 I love. 0:10:51.679 --> 0:10:55.040 This is the raething repard on America's Drugging Network on 0:10:55.200 --> 0:10:57.280 seven hundred WLW. 0:10:57.559 --> 0:11:02.120 Sake Denis and reporting for a t en It's former 0:11:02.160 --> 0:11:04.680 Bengal and Pro Football Hall of Fame or Anthony Munos. 0:11:04.880 --> 0:11:06.959 Did you know that ninety five percent of the Anthony 0:11:07.040 --> 0:11:09.400 Munhas Foundations funding goes to Revue. 0:11:09.480 --> 0:11:13.000 In the previous segment, I talked about this initial jobless claims. 0:11:13.080 --> 0:11:19.000 The same reporting Reuters, the same group comes out with 0:11:19.080 --> 0:11:23.840 the headlines and it is amazing how at eight thirty 0:11:23.880 --> 0:11:26.439 in the morning they can come up with one headline 0:11:26.800 --> 0:11:29.400 and then two hours later come up with a completely 0:11:29.440 --> 0:11:31.080 different just to reset the stage. 0:11:31.320 --> 0:11:32.040 Eight thirty in. 0:11:32.000 --> 0:11:36.000 The morning, US job as claims claims, US jobless claims 0:11:36.040 --> 0:11:41.120 surge amid seasonal adjustment changes. So nothing too terrible there, 0:11:41.400 --> 0:11:44.000 But then two hours later, three hours later, US Weekly 0:11:44.080 --> 0:11:47.400 Job is claims posts largest increase in nearly four and 0:11:47.440 --> 0:11:50.640 a half years amid seasonal volatility. 0:11:50.840 --> 0:11:52.400 Again, yes, that is. 0:11:52.520 --> 0:11:57.960 Probably a line in this story, but is it the story? 0:11:58.000 --> 0:12:00.560 If you're just scrolling through the headlines, which a lot 0:12:00.559 --> 0:12:03.000 of people are doing now, they just look at the 0:12:03.000 --> 0:12:05.360 headline and that's how they get their information. 0:12:05.760 --> 0:12:07.640 So if they see the thing it says. 0:12:07.720 --> 0:12:10.559 Increases in nearly the largest increase in nearly four and 0:12:10.559 --> 0:12:13.160 a half years, people are gonna think the job market 0:12:13.200 --> 0:12:14.280 is extremely weak. 0:12:14.559 --> 0:12:17.640 So listen to the first the first paragraph of this 0:12:18.000 --> 0:12:18.640 The number. 0:12:18.400 --> 0:12:21.959 Of Americans filing new applications for unemployment benefits increased by 0:12:21.960 --> 0:12:25.720 the most in nearly four and a half years last week. Okay, yeah, 0:12:25.800 --> 0:12:30.560 that sounds horrible, but the search likely does not support 0:12:30.600 --> 0:12:35.000 a material weakening in the labor market conditions, as the 0:12:35.120 --> 0:12:40.280 claims data are volatile around this time of year, does 0:12:40.320 --> 0:12:43.959 that justify the headline that they put out there. It's 0:12:44.080 --> 0:12:47.559 kind of like if it leads, if it bleeds, it leads. 0:12:47.320 --> 0:12:50.160 Type of thing. Again, in my opinion. 0:12:50.000 --> 0:12:53.880 These spoon fed regurgitators in the mainstream media are trying 0:12:53.920 --> 0:12:59.560 to manufacture a recession, talk down the economy, and quite honestly, 0:12:59.800 --> 0:13:02.680 I don't know how much way to say this, but 0:13:03.040 --> 0:13:07.320 the headlines that we're seeing from the spoon fed regurgitators 0:13:07.320 --> 0:13:10.000 in the mainstream media and what they are talking about 0:13:10.040 --> 0:13:13.000 as far as the economy, which is in my opinion, 0:13:13.080 --> 0:13:17.199 putting the idea in people's head about the economy versus 0:13:17.200 --> 0:13:20.199 what the numbers are saying, and what the job growth 0:13:20.280 --> 0:13:24.079 and what the job layoffs and the picture. And as 0:13:24.080 --> 0:13:28.080 far as the inflation versus what the inflation was for 0:13:28.120 --> 0:13:29.320 the last four years. 0:13:29.679 --> 0:13:30.559 It's like a. 0:13:30.559 --> 0:13:34.560 Reversal of what should have been reported back during the 0:13:34.600 --> 0:13:37.840 Biden years when you had in one month you had 0:13:37.840 --> 0:13:41.160 the inflation jump up to nine point one percent, and 0:13:41.200 --> 0:13:43.160 they talked about, well, you know, it's just a temporary 0:13:43.200 --> 0:13:45.760 blip on the radar screen. Things will be back to normal. 0:13:45.800 --> 0:13:48.920 It's just, you know, it's transitory. You know, everything's everything's cool, 0:13:48.960 --> 0:13:53.080 don't worry about it. It wasn't okay because the massive 0:13:53.160 --> 0:13:57.600 increases that we've seen in items up to the up 0:13:57.600 --> 0:14:00.800 to the beginning of this year was caused buy them 0:14:01.120 --> 0:14:05.439 and nobody in the media talked about it. Now all 0:14:05.480 --> 0:14:08.240 of a sudden, things are turning around. Oil prices are 0:14:08.280 --> 0:14:10.880 way down, up to twenty five percent lower than what. 0:14:10.880 --> 0:14:12.120 They were at the first of the year. 0:14:12.559 --> 0:14:14.920 Gas prices are now below a doll There are a 0:14:14.920 --> 0:14:17.400 couple of states in this country right now that have 0:14:17.520 --> 0:14:21.600 actually their gas prices are below two dollars a gallon. 0:14:21.840 --> 0:14:25.000 And when you start lowering gasoline prices to the point 0:14:25.040 --> 0:14:27.560 where people have more money in their pocket, they have 0:14:27.680 --> 0:14:29.760 more you know, they're not spending as much money on 0:14:29.840 --> 0:14:33.400 gasoline and on crude oil and heating oil, and that 0:14:33.520 --> 0:14:35.560 for their homes. They're going to have more money in 0:14:35.600 --> 0:14:37.560 their pockets. They're going to have more money to spend, 0:14:37.960 --> 0:14:40.560 and the economy will grow if we could get lion 0:14:40.680 --> 0:14:44.160 Jerry Powell to lower interest rates. And I was listening 0:14:44.240 --> 0:14:48.240 to somebody the other just yesterday morning talking about, well, 0:14:48.400 --> 0:14:51.320 lower interest rates from the Fed, that really doesn't affect 0:14:51.360 --> 0:14:52.120 mortgage rates. 0:14:52.440 --> 0:14:54.160 And this person was a real estate person. 0:14:54.720 --> 0:14:59.560 Well, it doesn't directly affect mortgage rates. However, that is 0:14:59.600 --> 0:15:04.600 the bend smart number tied to that becomes lower credit 0:15:04.640 --> 0:15:09.000 card interest rates tied to that then becomes lower prices 0:15:10.760 --> 0:15:14.880 interest rates on car loans, and then eventually, because the 0:15:14.920 --> 0:15:18.160 housing market is tied to the banks and tied to 0:15:18.240 --> 0:15:21.560 the profitability these banks, the banks can then charge less 0:15:21.600 --> 0:15:24.320 as far as our home loans are concerned, because interest 0:15:24.400 --> 0:15:27.360 rates along the other way are lower for them in 0:15:27.440 --> 0:15:30.880 terms of their operating costs in order to borrow money 0:15:30.880 --> 0:15:35.080 from other banks. So again this eventually does filter through 0:15:35.360 --> 0:15:39.080 to the mortgage rates. And the person talking about this 0:15:39.200 --> 0:15:43.800 that didn't see the correlation unbelievable because when you look 0:15:43.840 --> 0:15:47.560 back prior to the plandemic during the Trump administration in 0:15:47.640 --> 0:15:52.920 twenty nineteen, we had basically the interest rates the overnight 0:15:53.000 --> 0:15:56.800 rate was around zero and the mortgage rates were about 0:15:57.720 --> 0:16:00.520 two and a half to three percent. Well, when Biden 0:16:00.560 --> 0:16:04.000 took office and that number for the overnight interest rate 0:16:04.160 --> 0:16:08.480 went up to five percent and above mortgage rates went 0:16:08.560 --> 0:16:09.520 up to seven percent. 0:16:10.040 --> 0:16:12.520 So is there a direct correlation or is it. 0:16:12.480 --> 0:16:15.840 Just you know, filter through the economy and filter through 0:16:15.920 --> 0:16:19.480 to those numbers eventually. But again it is an effect 0:16:19.560 --> 0:16:23.000 on that. So looking at this again getting into this 0:16:23.680 --> 0:16:28.440 first paragraph, but the surge likely does not suggest a 0:16:28.520 --> 0:16:32.040 material weakening in the labor market conditions as the claims 0:16:32.120 --> 0:16:36.600 data are volatile around this time of the year, so again, 0:16:36.880 --> 0:16:39.560 no big deal, but why make a big deal about it? 0:16:39.560 --> 0:16:41.240 As far as the headline is concerned. 0:16:41.600 --> 0:16:45.200 The larger than expected rise of initial jobless claims reported 0:16:45.200 --> 0:16:48.560 by the Labor Department on Thursday reversed the sharp drop 0:16:48.680 --> 0:16:52.200 the prior week, which had pushed filings to a three 0:16:52.880 --> 0:16:54.560 year low. 0:16:54.680 --> 0:16:55.640 Just a week ago. 0:16:56.040 --> 0:16:59.680 The unemployment numbers the initial jobless claims worked to a 0:16:59.760 --> 0:17:04.399 three three year low. Economists said that adjusting the data 0:17:04.440 --> 0:17:08.199 for seasonal fluctuations is always is always challenging during the 0:17:08.200 --> 0:17:11.880 start of the holiday season, and recommended focusing on the 0:17:11.920 --> 0:17:15.439 four week moving average to get a better read of 0:17:15.440 --> 0:17:19.400 the labor market. The four week average of claims suggest 0:17:19.440 --> 0:17:25.320 that the labor market conditions remain stable. According to Stephen Stanley, 0:17:25.520 --> 0:17:29.960 Chief US Economists, it's Santander. 0:17:29.880 --> 0:17:31.240 US Capital Markets. 0:17:31.480 --> 0:17:35.880 The bulk of this week to week volunteer volatility. 0:17:35.560 --> 0:17:40.199 Is seasonal noise. On an underlying. 0:17:39.680 --> 0:17:43.600 Basis, nothing has changed, but if anything, we would have 0:17:43.720 --> 0:17:47.040 to say that initial claims are running slightly below the 0:17:47.200 --> 0:17:52.560 long established trend. One of several data points that refute 0:17:52.920 --> 0:17:58.639 Federal Reserve Chairman Jerome Powell's characterization of a shaky labor 0:17:58.680 --> 0:18:03.040 market I have I've not heard anybody in any of 0:18:03.040 --> 0:18:06.080 these quotes, in any of these stories up to this 0:18:06.160 --> 0:18:12.000 point making a comment refuting what Lion Jerry Powell said. 0:18:12.080 --> 0:18:16.440 Let me repeat this on an underlying basis. Nothing has changed, 0:18:16.680 --> 0:18:19.320 but if anything, we would have to say that the 0:18:19.359 --> 0:18:24.439 initial claims are running slightly below the long established trend, 0:18:25.040 --> 0:18:29.240 one of the several data points that refutes Federal Reserve 0:18:29.359 --> 0:18:34.320 Chairman Jerome Powell's characterization of a shaky labor market. Again, 0:18:34.960 --> 0:18:39.720 I've not seen many economists disagreeing with Jerome Powell, and 0:18:39.760 --> 0:18:41.560 this is one of the first times I've ever seen 0:18:41.600 --> 0:18:46.760 that initial claims for state unemployment benefits jumped forty four thousand, 0:18:46.800 --> 0:18:49.920 to the biggest increase since mid July of twenty twenty one, 0:18:50.200 --> 0:18:53.040 to a seasonally adjusted two hundred and thirty six thousand 0:18:53.080 --> 0:18:55.959 for the week end in December sixth the labor market, 0:18:56.160 --> 0:18:59.560 the Labor Department said economists pulled by Royers had forecast 0:18:59.560 --> 0:19:03.320 two hundred twenty Now, when we've been talking about these 0:19:03.400 --> 0:19:06.719 numbers over the last year, they have talked about that 0:19:06.920 --> 0:19:11.200 unemployment initial job as claims are generally ranging between two 0:19:11.320 --> 0:19:14.160 hundred and ten thousand and two hundred and fifty thousand 0:19:14.520 --> 0:19:17.919 at two hundred and thirty six thousand, jumping from a 0:19:18.080 --> 0:19:21.600 three year low the previous week up forty four thousand. 0:19:21.880 --> 0:19:26.080 It's still within those parameters of the low end at 0:19:26.119 --> 0:19:29.160 two hundred and ten thousand or two hundred and fifty 0:19:29.240 --> 0:19:30.720 thousand on the high end. 0:19:30.880 --> 0:19:32.840 So rather than pointing that out, they. 0:19:32.680 --> 0:19:35.080 Just try to, I guess, muddy the waters and make 0:19:35.119 --> 0:19:38.160 things seem worse than they are talking about. The better 0:19:38.240 --> 0:19:41.800 way to gauge this the four week moving average of claims, 0:19:41.880 --> 0:19:47.880 which irons out seasonal fluctuations, rose two thousand to two 0:19:48.040 --> 0:19:51.960 hundred and sixteen thousand, seven hundred and fifty last week, 0:19:52.440 --> 0:19:55.240 So at two hundred and sixteen, you know, a four 0:19:55.320 --> 0:19:59.120 week average, it only went up two thousand at two 0:19:59.240 --> 0:20:02.560 hundred and sixteen that's at the lower end of that 0:20:02.960 --> 0:20:05.880 two hundred and ten to two hundred and fifty thousand 0:20:06.200 --> 0:20:10.479 jo initial jobless claims unbelievable, and there's more data in here. 0:20:10.560 --> 0:20:11.160 We'll get to it. 0:20:11.280 --> 0:20:23.720 I'm Kevin Gordon, America's truck at Network seven hundred WLW. 0:20:23.960 --> 0:20:26.199 Here's your trucking forecast for the Try State and the 0:20:26.200 --> 0:20:28.600 rest of the country. In the Try State overnight snow 0:20:28.640 --> 0:20:30.720 with two to four inches expected for most of us 0:20:30.800 --> 0:20:33.120 who are under a winter weather advisory. Three to five 0:20:33.160 --> 0:20:36.640 inches possible further south in Kentucky and southern Indiana as 0:20:36.640 --> 0:20:38.679 they are under a winter storm warning, so we'll come 0:20:38.720 --> 0:20:40.400 to an MD by mid morning Friday, a high at 0:20:40.400 --> 0:20:43.679 thirty seven, so moving back into the area Saturday afternoon, 0:20:43.880 --> 0:20:46.160 one to three inches of snow expected the high year 0:20:46.200 --> 0:20:48.040 thirty as a winter storm watch. We'll start at ten 0:20:48.080 --> 0:20:50.760 o'clock in the morning and end at seven o'clock Sunday morning, 0:20:50.920 --> 0:20:53.120 with an additional one to three inches of snow possible 0:20:53.160 --> 0:20:56.560 Saturday night. Mostly sunny Sunday, but very cold, a high 0:20:56.600 --> 0:20:59.399 have only thirteen Nationally, a narrow band of monit to 0:20:59.400 --> 0:21:02.119 heavy snow likely from the midwest, upper Ohio Valley and 0:21:02.160 --> 0:21:04.879 into the central Appalachians overnight, with the second round of 0:21:04.880 --> 0:21:08.720 accumulating snow Friday from the northern Plains moving southeast into 0:21:08.720 --> 0:21:11.720 the middle of Mississippi Valley. Like affect snow winding down 0:21:11.760 --> 0:21:14.960 but will return late Saturday into Sunday. Dryer wha they're 0:21:14.960 --> 0:21:18.399 seen in the Pacific Northwest with flooding impacts continue. Record 0:21:18.400 --> 0:21:20.800 warm tempest you're seen across the west, while arctic gaere 0:21:20.880 --> 0:21:23.840 will move into the northern plains and upper Mississippi Valley 0:21:23.840 --> 0:21:25.320 Friday and Saturday. 0:21:28.160 --> 0:21:32.440 Seven hundred wlw IM Kevin Gordon is as America Struck 0:21:32.520 --> 0:21:33.280 in network now. 0:21:33.280 --> 0:21:35.400 I'm focusing on these jobless. 0:21:34.960 --> 0:21:37.320 Claims because it's been in the news today and a 0:21:37.359 --> 0:21:40.240 lot of people have made hay with it. And I've 0:21:40.240 --> 0:21:43.520 said this before and it bears repeating. When I look 0:21:43.560 --> 0:21:46.440 at the economic numbers, when I see what is going on, 0:21:47.080 --> 0:21:49.960 I want to give the truth as far as what's 0:21:50.000 --> 0:21:52.760 going on. I don't want to go into hyperbole. I 0:21:52.800 --> 0:21:56.439 don't want to let something go out there that doesn't 0:21:56.440 --> 0:22:00.280 go challenge, goes unchallenged. And as I've said before, I 0:22:00.320 --> 0:22:03.520 think the one thing holding back this economy is high 0:22:03.600 --> 0:22:07.200 interest rates. We keep hearing a little bit of inklings 0:22:07.240 --> 0:22:10.040 of that in terms of when they're looking at new 0:22:10.040 --> 0:22:13.919 home sales. Homes being pulled off the market, as we 0:22:14.000 --> 0:22:17.320 covered earlier in the week. So these reports where people 0:22:17.320 --> 0:22:19.800 are saying, you know what, my house is on the market, 0:22:20.080 --> 0:22:23.560 it's going into the winner that generally allows you time 0:22:23.600 --> 0:22:25.720