1 00:00:10,800 --> 00:00:16,200 Speaker 1: This is America's Trucking Network with Kevin Gordon, well of 2 00:00:16,239 --> 00:00:19,279 Speaker 1: them more. Thanks for tuning in on this Wednesday morning. 3 00:00:20,079 --> 00:00:24,120 Speaker 1: Last Friday, we got the one of my favorite surveys. 4 00:00:24,200 --> 00:00:27,800 Speaker 1: I just flat out say that every month, it seems 5 00:00:27,800 --> 00:00:31,400 Speaker 1: that this consumer sentiment report that comes out by the 6 00:00:31,520 --> 00:00:34,400 Speaker 1: University of Michigan, this is the thing that a lot 7 00:00:34,440 --> 00:00:38,400 Speaker 1: of the well the spoon fed regurgitators in the mainstream 8 00:00:38,440 --> 00:00:41,680 Speaker 1: media kind of tend to glom onto because it's one 9 00:00:41,680 --> 00:00:46,080 Speaker 1: of these well respected type of surveys that's done by 10 00:00:46,159 --> 00:00:49,519 Speaker 1: the University of Michigan taking a look at consumer sentiment. 11 00:00:49,600 --> 00:00:52,839 Speaker 1: Now this is done based on a survey, and a 12 00:00:53,080 --> 00:00:55,560 Speaker 1: month after month, I bring this up and I talk 13 00:00:55,680 --> 00:00:59,320 Speaker 1: about it simply because this is the stuff that the 14 00:00:59,360 --> 00:01:03,240 Speaker 1: spoon fed regurgitators in the mainstream media talk about. Let's say, 15 00:01:03,240 --> 00:01:05,640 Speaker 1: consumer sentiment went down and all this sort of stuff. 16 00:01:05,680 --> 00:01:09,399 Speaker 1: So they put all these negative figures and these negative 17 00:01:09,440 --> 00:01:13,320 Speaker 1: thoughts into people's head. And I've explained this numerous times 18 00:01:13,600 --> 00:01:16,560 Speaker 1: that as I look out at the economy and I 19 00:01:16,640 --> 00:01:19,600 Speaker 1: look at at what's going on, knowing the resilience of 20 00:01:19,600 --> 00:01:24,000 Speaker 1: the American public, knowing the resilience of the individuals who 21 00:01:24,120 --> 00:01:27,720 Speaker 1: own businesses, knowing the resilience of people like you out 22 00:01:27,760 --> 00:01:31,080 Speaker 1: in the trucking industry that you guys can get through anything. 23 00:01:31,400 --> 00:01:33,640 Speaker 1: All you got to know is what rules are we 24 00:01:33,680 --> 00:01:36,720 Speaker 1: playing by. We can handle just about anything. We are 25 00:01:36,880 --> 00:01:40,480 Speaker 1: rugged individualists in this country. We are the type of 26 00:01:40,480 --> 00:01:43,640 Speaker 1: people we are. You compare us to any other people 27 00:01:43,720 --> 00:01:47,840 Speaker 1: in the world, and we work harder, we work longer. 28 00:01:48,040 --> 00:01:50,640 Speaker 1: Well maybe with the exception of the Japanese, but that's 29 00:01:50,640 --> 00:01:53,960 Speaker 1: a whole nother story altogether. And they have their problems 30 00:01:54,000 --> 00:01:57,760 Speaker 1: over there as well, some of the mental illness and 31 00:01:57,800 --> 00:02:00,720 Speaker 1: stuff that's creeping up there because they have had this 32 00:02:00,960 --> 00:02:04,840 Speaker 1: constant work, work, work, work, work ethics. Now you go 33 00:02:04,960 --> 00:02:07,280 Speaker 1: that to a further extreme. You look at the European 34 00:02:07,400 --> 00:02:11,560 Speaker 1: Union and how that will take a month off just 35 00:02:11,600 --> 00:02:15,480 Speaker 1: to I guess, just to relax, even though they don't 36 00:02:15,480 --> 00:02:17,840 Speaker 1: do much to begin with. So anyway, we are a 37 00:02:17,960 --> 00:02:21,600 Speaker 1: very resilient people and we can get through just about anything. 38 00:02:21,600 --> 00:02:23,600 Speaker 1: And as I said, all we need to know is 39 00:02:23,600 --> 00:02:25,840 Speaker 1: what the rules are. And once in a while, we'd 40 00:02:25,880 --> 00:02:28,440 Speaker 1: like to get a little cooperation from our government, which 41 00:02:28,480 --> 00:02:31,320 Speaker 1: we are getting, and we would like a little cooperation 42 00:02:31,440 --> 00:02:34,160 Speaker 1: from the Federal Reserve that we're not getting. And I 43 00:02:34,240 --> 00:02:36,720 Speaker 1: keep harping on the idea or the fact that our 44 00:02:36,800 --> 00:02:39,240 Speaker 1: interest rates are two damn high. If you're trying to 45 00:02:39,400 --> 00:02:42,160 Speaker 1: stimulate the economy, if you want things to go along, 46 00:02:42,160 --> 00:02:43,800 Speaker 1: if you want people to have more money in their 47 00:02:43,840 --> 00:02:45,960 Speaker 1: pockets so they can go out and spend more, And 48 00:02:46,120 --> 00:02:49,959 Speaker 1: you look at the numbers. Our unemployment is low, wages 49 00:02:50,040 --> 00:02:54,079 Speaker 1: are coming up, Inflation is moderate in terms of where 50 00:02:54,120 --> 00:02:56,440 Speaker 1: it is, and we'll talk about that coming up. And 51 00:02:56,600 --> 00:02:59,960 Speaker 1: things are on the surface all looking pretty good. Problem 52 00:03:00,400 --> 00:03:02,400 Speaker 1: is is that when you look at the interest rates 53 00:03:02,480 --> 00:03:04,880 Speaker 1: and what people think of in terms of well their 54 00:03:04,880 --> 00:03:07,359 Speaker 1: credit cards are concerned going out and try to buy 55 00:03:07,400 --> 00:03:09,400 Speaker 1: a piece of equipment, try to buy a new truck, 56 00:03:09,480 --> 00:03:12,760 Speaker 1: try to add fleets of trucks to your fleet, young 57 00:03:12,800 --> 00:03:15,480 Speaker 1: people trying to buy a house. All that stuff factors 58 00:03:15,520 --> 00:03:19,040 Speaker 1: into it. But what we're constantly getting is the drum 59 00:03:19,080 --> 00:03:22,040 Speaker 1: beat from the spoon fed regurgitators in the mainstream media. 60 00:03:22,160 --> 00:03:24,839 Speaker 1: They from day one have been trying to talk down 61 00:03:24,880 --> 00:03:29,120 Speaker 1: this economy and trying to manufacture, in my opinion, a recession. 62 00:03:29,240 --> 00:03:31,640 Speaker 1: They've talked about how horrible the tariffs are going to be, 63 00:03:31,680 --> 00:03:34,400 Speaker 1: it's going to cause inflation, it's going to run into 64 00:03:34,400 --> 00:03:36,800 Speaker 1: a recession, and things are going to go to hell 65 00:03:36,840 --> 00:03:39,280 Speaker 1: in a handbasket, none of which has happened. And as 66 00:03:39,360 --> 00:03:42,680 Speaker 1: a matter of fact, things have gone extremely well. And 67 00:03:42,720 --> 00:03:45,400 Speaker 1: so we when we look at the inflation numbers, which 68 00:03:45,440 --> 00:03:48,000 Speaker 1: we'll look at later on, as I mentioned, these are 69 00:03:48,040 --> 00:03:50,080 Speaker 1: the things that are there. But yet we've got the 70 00:03:50,080 --> 00:03:53,760 Speaker 1: spoon fed regurgitators in the mainstream media constantly talking down 71 00:03:53,800 --> 00:03:57,240 Speaker 1: the economy, talking about high inflation, talking about this, that 72 00:03:57,320 --> 00:03:59,440 Speaker 1: and the other thing. And when you go out you 73 00:03:59,520 --> 00:04:02,000 Speaker 1: serve a people on the street, we don't know. When 74 00:04:02,080 --> 00:04:06,920 Speaker 1: the survey, they never explain what the percentage of Republicans, Democrats, independents, 75 00:04:07,680 --> 00:04:11,160 Speaker 1: the demographics, in terms of the ages, in terms of 76 00:04:11,200 --> 00:04:13,600 Speaker 1: the population, and any of that. All they do is 77 00:04:13,640 --> 00:04:16,880 Speaker 1: put out this survey. But it's one that people glom 78 00:04:16,960 --> 00:04:19,599 Speaker 1: onto and talk about a lot. So let's go through this. 79 00:04:20,000 --> 00:04:23,920 Speaker 1: The number of Americans, the numbers of the numbers, that's 80 00:04:23,960 --> 00:04:27,479 Speaker 1: the title. Americans have soured on the prospect of finding 81 00:04:27,520 --> 00:04:31,159 Speaker 1: new jobs. A new survey shows, well, that's all well 82 00:04:31,160 --> 00:04:33,719 Speaker 1: and good if you're not working, but unemployment is low, 83 00:04:33,839 --> 00:04:36,520 Speaker 1: so there's not that many people out there working, people 84 00:04:36,520 --> 00:04:39,840 Speaker 1: that have a job. Okay, if you're looking for another job, 85 00:04:39,880 --> 00:04:42,880 Speaker 1: if you're thinking of job hopping, that prospects might not 86 00:04:43,000 --> 00:04:45,159 Speaker 1: be so good. But at least you've got a job 87 00:04:45,200 --> 00:04:47,640 Speaker 1: and you've got a paycheck coming in. And they're still 88 00:04:47,680 --> 00:04:51,320 Speaker 1: frustrated by persistent inflation. Oh really, we'll talk about that 89 00:04:51,400 --> 00:04:55,200 Speaker 1: in a minute, giving them little confidence that the economy 90 00:04:55,240 --> 00:04:58,360 Speaker 1: will improve soon. Well, the economy is pretty darn good 91 00:04:58,520 --> 00:05:01,520 Speaker 1: compared to what it was back in the Biden administration, 92 00:05:01,920 --> 00:05:04,000 Speaker 1: and when we look at energy prices, when we look 93 00:05:04,000 --> 00:05:06,080 Speaker 1: at what is going on as far as food prices, 94 00:05:06,120 --> 00:05:11,400 Speaker 1: and the prospects for economic prosperity. The first reading of 95 00:05:11,440 --> 00:05:15,360 Speaker 1: the Consumer Sentiment Survey in October was basically flat at 96 00:05:15,400 --> 00:05:19,000 Speaker 1: fifty five. According to the University of Michigan set on Friday, 97 00:05:19,520 --> 00:05:24,760 Speaker 1: the index has been hovering at levels typically experienced during recessions. Gee, you, 98 00:05:25,240 --> 00:05:28,880 Speaker 1: I wonder why if you've got this constant drumbeat of 99 00:05:29,000 --> 00:05:33,599 Speaker 1: negativity talking about the economy, ninety four percent negative coverage, 100 00:05:33,800 --> 00:05:37,240 Speaker 1: ninety four ninety five percent negative coverage of Donald Trump. 101 00:05:37,640 --> 00:05:39,520 Speaker 1: Of course people are going to have in their head 102 00:05:39,600 --> 00:05:42,159 Speaker 1: or they're they're going to be having a bad taste 103 00:05:42,160 --> 00:05:46,400 Speaker 1: in their mouth or affect their attitude. And so when 104 00:05:46,440 --> 00:05:49,760 Speaker 1: you survey people like that, after this constant drumbeat of 105 00:05:50,160 --> 00:05:53,960 Speaker 1: bad reporting, people are going to react that way. Consumer 106 00:05:54,040 --> 00:05:58,120 Speaker 1: sentiment helps gauge how Americans feel about their own finances 107 00:05:58,200 --> 00:06:01,719 Speaker 1: as well as the broader economy. That's an important feature 108 00:06:01,800 --> 00:06:06,400 Speaker 1: right there. People are looking at their own finances. Things 109 00:06:06,440 --> 00:06:09,480 Speaker 1: seem to be going well on their end, but they're 110 00:06:09,520 --> 00:06:12,679 Speaker 1: worried about other people out there that what they're hearing 111 00:06:12,720 --> 00:06:15,160 Speaker 1: as far as the economy is concerned. When you are 112 00:06:15,160 --> 00:06:18,120 Speaker 1: hearing this concant drum beat as far as the economy, 113 00:06:18,320 --> 00:06:21,480 Speaker 1: the teriffts are going to cause recession, inflation, and so on, 114 00:06:21,760 --> 00:06:24,520 Speaker 1: you're not seeing it, but you're constantly hearing about it, 115 00:06:24,560 --> 00:06:27,279 Speaker 1: and you're thinking, well, Geeve, maybe I'm not affected, but 116 00:06:27,600 --> 00:06:31,960 Speaker 1: maybe everybody else is, and so that affects your viewpoint. 117 00:06:32,320 --> 00:06:35,240 Speaker 1: Got to get into the key details here. Consumers expected 118 00:06:35,279 --> 00:06:38,440 Speaker 1: the rate of inflation to rise by four point seven 119 00:06:38,560 --> 00:06:42,040 Speaker 1: percent in the next year, indicating that they see little 120 00:06:42,160 --> 00:06:45,760 Speaker 1: chance of a slow down in price increases, which is 121 00:06:45,880 --> 00:06:49,320 Speaker 1: absolutely ridiculous because how are you going to predict what 122 00:06:49,360 --> 00:06:52,720 Speaker 1: the inflation is going to be based on what you're 123 00:06:52,760 --> 00:06:55,240 Speaker 1: hearing or what you're knowing. All you do is you're 124 00:06:55,279 --> 00:06:58,039 Speaker 1: basing that on what you're hearing from the spoon fed 125 00:06:58,080 --> 00:07:01,400 Speaker 1: regurgitators in the mainstream media. I wonder what the I'm 126 00:07:01,400 --> 00:07:03,120 Speaker 1: going to have to go back and dig into some 127 00:07:03,160 --> 00:07:05,400 Speaker 1: of these surveys and think what these people were looking 128 00:07:05,440 --> 00:07:08,800 Speaker 1: at in terms of prediction when in a particular month 129 00:07:08,839 --> 00:07:13,679 Speaker 1: of June of twenty twenty two, inflation hit nine percent. 130 00:07:14,080 --> 00:07:16,800 Speaker 1: I wonder what the consumer sentiment at that point and 131 00:07:16,840 --> 00:07:20,040 Speaker 1: what they forecasted inflation to be. You know, I'm not 132 00:07:20,080 --> 00:07:23,240 Speaker 1: sure that they really even understand what the percentage of 133 00:07:23,360 --> 00:07:25,920 Speaker 1: as far as inflation is. They probably don't even know 134 00:07:25,960 --> 00:07:29,080 Speaker 1: what the current rate of inflation is. Now. Current rate 135 00:07:29,080 --> 00:07:32,000 Speaker 1: of inflation is two point nine percent based on the 136 00:07:32,000 --> 00:07:36,679 Speaker 1: Consumer Price Index. Most economists and Federal Reserve officials expect 137 00:07:36,720 --> 00:07:39,760 Speaker 1: inflation to top three percent by the end of the year. 138 00:07:40,240 --> 00:07:44,120 Speaker 1: So if the so called experts are expecting a three percent, 139 00:07:44,560 --> 00:07:47,480 Speaker 1: where are these people getting this four point seven percent. 140 00:07:47,800 --> 00:07:50,840 Speaker 1: It's got to be this constant drumbeat from the spoon 141 00:07:50,880 --> 00:07:53,960 Speaker 1: federal gurgitators in the mainstream media. According to the director 142 00:07:54,160 --> 00:07:59,239 Speaker 1: Joanne Sue Interviews reveal little evidence that the ongoing federal 143 00:07:59,280 --> 00:08:02,640 Speaker 1: government shut down has moved consumer's view of the economy 144 00:08:02,720 --> 00:08:05,960 Speaker 1: so far. They say in the survey that again that 145 00:08:06,040 --> 00:08:09,400 Speaker 1: the government's shut down meanwhile has not registered much at 146 00:08:09,400 --> 00:08:13,000 Speaker 1: all with the American people. Sentiment remains well below a 147 00:08:13,800 --> 00:08:17,560 Speaker 1: pre pandemic high of one pH one. So at fifty 148 00:08:17,640 --> 00:08:20,680 Speaker 1: five we are well below that one oh one, suggesting 149 00:08:20,840 --> 00:08:24,520 Speaker 1: US economy is unlikely to speed up anytime soon. Well, 150 00:08:24,560 --> 00:08:26,680 Speaker 1: of course, if you've got high interest rates and you've 151 00:08:26,720 --> 00:08:30,040 Speaker 1: got the federal reserve of tamping down on the economy, 152 00:08:30,280 --> 00:08:33,600 Speaker 1: their foot on the break, so to speak, you're not 153 00:08:33,640 --> 00:08:37,520 Speaker 1: going to have that high US tariffs and constant disputes 154 00:08:37,559 --> 00:08:41,239 Speaker 1: over trade have weakened the labor market and broader economy 155 00:08:41,320 --> 00:08:45,040 Speaker 1: this year. Where's the evidence of that? How have tariffs 156 00:08:45,080 --> 00:08:48,760 Speaker 1: increased or decreased the amount of things that people are buying? 157 00:08:49,040 --> 00:08:52,200 Speaker 1: That it's not certainly causing inflation, it's not creating a 158 00:08:52,320 --> 00:08:59,599 Speaker 1: problem as far as possibly job prospects or people expanding 159 00:08:59,720 --> 00:09:03,440 Speaker 1: job or hiring new But we're in this position where 160 00:09:03,559 --> 00:09:06,920 Speaker 1: companies are not hiring and they're not firing, which is 161 00:09:06,960 --> 00:09:10,480 Speaker 1: a good thing, and acceleration and growth is not expected 162 00:09:10,559 --> 00:09:13,720 Speaker 1: until next year, assuming the Trump administration finally settles on 163 00:09:13,760 --> 00:09:18,120 Speaker 1: trade levels. I mean no, not the Trump administration settling 164 00:09:18,160 --> 00:09:20,560 Speaker 1: on trade levels, the rest of the cut, the rest 165 00:09:20,559 --> 00:09:23,760 Speaker 1: of the world accepting the fact that their tariffs are 166 00:09:23,800 --> 00:09:26,120 Speaker 1: too damn highs and ours are too low, and we're 167 00:09:26,120 --> 00:09:29,200 Speaker 1: trying to level the playing field. FED cuts will depend 168 00:09:29,240 --> 00:09:32,480 Speaker 1: on whether inflation actually begins to slow down again. If 169 00:09:32,480 --> 00:09:35,560 Speaker 1: it doesn't, the economy would face rockier times. But again, 170 00:09:35,600 --> 00:09:38,160 Speaker 1: the Federal Reserve has shown that they will claim they're 171 00:09:38,160 --> 00:09:40,840 Speaker 1: paying attention to the inflation. But like they did in 172 00:09:40,840 --> 00:09:43,400 Speaker 1: September of twenty twenty four, when they're trying to get 173 00:09:43,480 --> 00:09:46,760 Speaker 1: Kamala Harris elected, they said, oh, we're going to concentrate 174 00:09:46,840 --> 00:09:49,000 Speaker 1: on jobs. We think the job market is low, so 175 00:09:49,080 --> 00:09:51,240 Speaker 1: we're going to cut interest rates a full half a 176 00:09:51,320 --> 00:09:54,000 Speaker 1: percentage point, trying to push her over the finish line. 177 00:09:54,080 --> 00:09:56,800 Speaker 1: That didn't work, Thank goodness. We'll pick this up. I'm 178 00:09:56,840 --> 00:09:59,880 Speaker 1: Kevin Gordon. America's Struck A Network seven hundred w L 179 00:10:03,720 --> 00:10:08,120 Speaker 1: I'm Kevin Lord in America, Struck A Network seven hundred WLW. 180 00:10:08,400 --> 00:10:11,320 Speaker 1: We talked about this Michigan survey, and it's a survey 181 00:10:11,360 --> 00:10:13,199 Speaker 1: that's done every month. They do it at the beginning of 182 00:10:13,240 --> 00:10:14,440 Speaker 1: the month, and they do it at the end of the 183 00:10:14,440 --> 00:10:18,880 Speaker 1: month in terms of consumer sentiment. And again, everybody glombs 184 00:10:18,920 --> 00:10:21,880 Speaker 1: onto it. Everybody pays attention to it. It's in the 185 00:10:21,880 --> 00:10:25,720 Speaker 1: news and all that. So we got to talk about 186 00:10:25,760 --> 00:10:27,720 Speaker 1: it here. But what I want to do is pull 187 00:10:27,760 --> 00:10:32,360 Speaker 1: it apart, pick it apart, digest it, go through it, 188 00:10:32,720 --> 00:10:37,040 Speaker 1: and basically dissect it and say, Okay, what are the 189 00:10:37,080 --> 00:10:39,800 Speaker 1: facts in here? What's true and what's not true. We 190 00:10:39,920 --> 00:10:43,600 Speaker 1: keep hearing about inflation. Okay, let's talk about inflation. Want 191 00:10:43,640 --> 00:10:46,600 Speaker 1: to all right? We keep hearing that inflation is high 192 00:10:46,720 --> 00:10:50,160 Speaker 1: that I saw a report the other day that they said, well, 193 00:10:50,200 --> 00:10:54,920 Speaker 1: you know, we expect inflation to be higher than last year. Okay, 194 00:10:54,920 --> 00:10:56,760 Speaker 1: Well they just left it at that, But until you 195 00:10:56,840 --> 00:11:00,760 Speaker 1: read the sentence. Last year inflation was our last year 196 00:11:00,800 --> 00:11:03,520 Speaker 1: of the Biden administration, was two point nine. They're saying 197 00:11:03,520 --> 00:11:07,079 Speaker 1: that this year they're expecting inflation to be two point 198 00:11:07,160 --> 00:11:10,320 Speaker 1: nine two, So two tenths of a percentage point above 199 00:11:10,480 --> 00:11:14,199 Speaker 1: two point nine. So inflation is going to be higher 200 00:11:14,200 --> 00:11:16,920 Speaker 1: this year. Yeah, but you leave the impression that, oh, 201 00:11:17,440 --> 00:11:19,200 Speaker 1: higher means to me that it's going to be like 202 00:11:19,280 --> 00:11:21,760 Speaker 1: one two percentage point different. Let's do a little bit 203 00:11:21,800 --> 00:11:24,280 Speaker 1: of comparison, if you will. First full month of the 204 00:11:24,559 --> 00:11:28,559 Speaker 1: Trump administration, February inflation was a two point eight percent. 205 00:11:28,760 --> 00:11:31,520 Speaker 1: The previous year it was three point two percent. We 206 00:11:31,520 --> 00:11:34,760 Speaker 1: were down four tenths of one percentage point. In March. 207 00:11:35,040 --> 00:11:38,680 Speaker 1: We were down one point one percent in terms of inflation. 208 00:11:39,040 --> 00:11:42,160 Speaker 1: Inflation in twenty twenty four was three point five two 209 00:11:42,160 --> 00:11:45,760 Speaker 1: point four in March. Inflation in April three point four 210 00:11:45,960 --> 00:11:48,400 Speaker 1: versus two point three, so that was down one point 211 00:11:48,480 --> 00:11:51,920 Speaker 1: one May it was down nine tenths of one percent 212 00:11:52,240 --> 00:11:56,440 Speaker 1: three point three in twenty twenty four, two point four 213 00:11:56,480 --> 00:12:00,440 Speaker 1: percent in May. So where are we getting anywhere near 214 00:12:00,679 --> 00:12:03,760 Speaker 1: the inflation numbers from twenty twenty four at this point? 215 00:12:03,840 --> 00:12:07,840 Speaker 1: All right? June two point seven percent was down two 216 00:12:07,840 --> 00:12:10,600 Speaker 1: point seven percent, was down zero point two percent from 217 00:12:10,600 --> 00:12:13,360 Speaker 1: the two point nine to twenty twenty four. The one 218 00:12:13,520 --> 00:12:17,840 Speaker 1: month this entire year that our inflation has been higher 219 00:12:17,880 --> 00:12:21,680 Speaker 1: than the previous year was in August, when inflation was 220 00:12:21,720 --> 00:12:24,480 Speaker 1: a two point nine percent and the previous year was 221 00:12:24,520 --> 00:12:27,600 Speaker 1: a two point five percent. So we're still at that 222 00:12:27,840 --> 00:12:32,160 Speaker 1: range where it has never gone above three percent during 223 00:12:32,200 --> 00:12:35,559 Speaker 1: the entire time that Trump has been president, inflation has 224 00:12:35,559 --> 00:12:37,719 Speaker 1: been two point eight two point four, two point three 225 00:12:38,360 --> 00:12:42,320 Speaker 1: two point four every month. During twenty twenty four, inflation 226 00:12:42,600 --> 00:12:46,600 Speaker 1: was over three percent. So where the hell are people 227 00:12:46,640 --> 00:12:49,680 Speaker 1: concentrating on all of a sudden now their focus is 228 00:12:49,720 --> 00:12:53,520 Speaker 1: on inflation when inflation isn't anywhere near what it was 229 00:12:53,600 --> 00:12:56,920 Speaker 1: during the Biden administration. The first full year of the 230 00:12:56,920 --> 00:13:02,280 Speaker 1: Biden administration in twenty twenty one, inflation was up seven percent. 231 00:13:02,800 --> 00:13:06,920 Speaker 1: In twenty twenty two was up six point five percent, 232 00:13:07,440 --> 00:13:11,440 Speaker 1: In twenty twenty three was three point four percent. Then 233 00:13:11,480 --> 00:13:14,080 Speaker 1: we started hearing in twenty twenty four towards the end 234 00:13:14,080 --> 00:13:18,200 Speaker 1: of twenty twenty four, is that, oh, well, the inflation 235 00:13:18,400 --> 00:13:22,920 Speaker 1: rate in twenty twenty four is well below what it 236 00:13:23,200 --> 00:13:26,959 Speaker 1: was in twenty twenty one and twenty twenty two coming 237 00:13:27,040 --> 00:13:29,439 Speaker 1: out of the pandemic. Well, it was still a two 238 00:13:29,520 --> 00:13:32,960 Speaker 1: point nine percent, even though the previous year it was 239 00:13:32,960 --> 00:13:36,640 Speaker 1: three point four. So where was all the concern Back then? 240 00:13:36,760 --> 00:13:40,400 Speaker 1: It seemed like nobody was talking about inflation. Maybe people 241 00:13:41,440 --> 00:13:43,720 Speaker 1: like you and me were complaining about it, But the 242 00:13:43,760 --> 00:13:47,000 Speaker 1: spoon fed regurgitators in the mainstream media, they apparently kept 243 00:13:47,080 --> 00:13:50,000 Speaker 1: that news to themselves. They didn't bother harping on it, 244 00:13:50,000 --> 00:13:52,640 Speaker 1: they didn't bother talking about it, they didn't talk about 245 00:13:52,679 --> 00:13:56,040 Speaker 1: it NonStop in the news. But where is the evidence 246 00:13:56,080 --> 00:14:00,440 Speaker 1: of this if you're talking about inflation and you're you know, 247 00:14:00,480 --> 00:14:04,240 Speaker 1: we've seen the consumer price index, we've seen the consumer 248 00:14:04,280 --> 00:14:08,000 Speaker 1: price index, producer price index, we've seen that personal consumption 249 00:14:08,120 --> 00:14:11,680 Speaker 1: expenditure numbers all hovering around two point eight two point 250 00:14:11,760 --> 00:14:14,680 Speaker 1: seven percent thereabouts. But then when you look at the 251 00:14:14,720 --> 00:14:17,880 Speaker 1: wages in terms of the hourly rate and so on, 252 00:14:18,200 --> 00:14:21,600 Speaker 1: that's been up four point one percent, three point five 253 00:14:21,640 --> 00:14:26,280 Speaker 1: percent in those ranges. So the increases in wages are 254 00:14:26,520 --> 00:14:31,360 Speaker 1: going up higher than the inflation. So again, I when 255 00:14:31,400 --> 00:14:35,000 Speaker 1: they start talking about inflation, well, the numbers aren't proving that. 256 00:14:35,080 --> 00:14:37,880 Speaker 1: And when you do the comparison month by month from 257 00:14:37,880 --> 00:14:40,200 Speaker 1: the previous year, they're a heck of a lot lower 258 00:14:40,240 --> 00:14:43,560 Speaker 1: now than what they were then. And you know, and 259 00:14:44,040 --> 00:14:46,880 Speaker 1: when you look at and I've talked about this before 260 00:14:46,960 --> 00:14:50,000 Speaker 1: and I keep talking about it, at least as far 261 00:14:50,040 --> 00:14:53,840 Speaker 1: as grocery prices are concerned. Again, you're the main thing 262 00:14:53,920 --> 00:14:57,400 Speaker 1: that you buy on a regular basis is groceries and energy. 263 00:14:57,840 --> 00:15:01,040 Speaker 1: You look at gas prices, and gas price are coming down, 264 00:15:01,200 --> 00:15:03,160 Speaker 1: they're at some of the lowest levels they've been in 265 00:15:03,200 --> 00:15:05,920 Speaker 1: a couple of years. You look at food prices, you 266 00:15:05,920 --> 00:15:09,160 Speaker 1: look at the grocery store and so on, and as 267 00:15:09,200 --> 00:15:13,600 Speaker 1: far as what I've seen, if depending upon when you go, 268 00:15:14,320 --> 00:15:17,440 Speaker 1: there are certain things it is a trend. You go 269 00:15:17,480 --> 00:15:20,200 Speaker 1: into the grocery store, there are certain days there certain 270 00:15:20,320 --> 00:15:23,720 Speaker 1: weeks where the lost leaders and the milk and stuff 271 00:15:23,760 --> 00:15:26,040 Speaker 1: like that, they have that very low in order to 272 00:15:26,120 --> 00:15:28,480 Speaker 1: encourage people to come into the store and buy stuff. 273 00:15:28,800 --> 00:15:32,200 Speaker 1: But you go down aisle after aisle, I tell you you've 274 00:15:31,920 --> 00:15:35,440 Speaker 1: got to look at the advertisements, because you'll notice that 275 00:15:35,560 --> 00:15:38,920 Speaker 1: it's like every couple of weeks, certain items go on sale, 276 00:15:39,280 --> 00:15:42,240 Speaker 1: then they go back up. Just last week, for instance, 277 00:15:42,840 --> 00:15:46,680 Speaker 1: I buy Folger's coffee, Folger's black silk. It is normally 278 00:15:46,840 --> 00:15:50,640 Speaker 1: on the shelf fourteen ninety nine. Last week they had 279 00:15:50,680 --> 00:15:54,000 Speaker 1: it on sale for eight ninety nine. So if you're 280 00:15:54,080 --> 00:15:58,440 Speaker 1: doing your inflation calculation based on the fourteen ninety nine 281 00:15:58,840 --> 00:16:01,360 Speaker 1: versus the eight ninety nine, you're going to get a 282 00:16:01,440 --> 00:16:04,760 Speaker 1: whole different type of perspective in terms of what inflation 283 00:16:04,960 --> 00:16:08,280 Speaker 1: is as opposed to last year, a couple more weeks 284 00:16:08,280 --> 00:16:11,400 Speaker 1: to go by, that coffee price is back up well 285 00:16:11,560 --> 00:16:14,000 Speaker 1: right now, it's back up to fourteen ninety nine. It'll 286 00:16:14,000 --> 00:16:16,840 Speaker 1: be up there probably this week, next week, and probably 287 00:16:16,880 --> 00:16:18,760 Speaker 1: the following week it'll come back down to the eight 288 00:16:18,920 --> 00:16:22,000 Speaker 1: ninety nine. You go down the aisle and you look 289 00:16:22,040 --> 00:16:24,120 Speaker 1: at these things, and it's a trend when you look 290 00:16:24,160 --> 00:16:26,800 Speaker 1: at those on a regular basis. But I know far 291 00:16:26,920 --> 00:16:30,680 Speaker 1: too many people that just don't plan ahead. They just go. 292 00:16:30,720 --> 00:16:33,040 Speaker 1: And you know, they always claim they're in a rush, 293 00:16:33,280 --> 00:16:35,000 Speaker 1: they're in a rush, they're in a rush, they're in 294 00:16:35,040 --> 00:16:38,080 Speaker 1: a rush. But then when you see what they do 295 00:16:38,160 --> 00:16:40,800 Speaker 1: on a daily basis, how much time are they spending 296 00:16:40,840 --> 00:16:44,080 Speaker 1: on their phone? How much time are they sitting there 297 00:16:44,120 --> 00:16:48,160 Speaker 1: scrolling through stuff on pictures and stuff. I mean, my 298 00:16:48,240 --> 00:16:50,520 Speaker 1: wife and I we talked about this periodically. I Mean, 299 00:16:50,760 --> 00:16:52,640 Speaker 1: one of the things is that I pay attention to 300 00:16:52,640 --> 00:16:55,920 Speaker 1: these commercials and so on, and there's a commercial where 301 00:16:55,960 --> 00:16:58,520 Speaker 1: this woman is just sitting She's all decked down, she's 302 00:16:58,520 --> 00:17:02,560 Speaker 1: got a little turtlenecks sweater on, and the people are 303 00:17:02,640 --> 00:17:04,840 Speaker 1: running around in the house and all this sort of stuff, 304 00:17:04,920 --> 00:17:07,160 Speaker 1: and she's sitting there very comfortably looking at her phone 305 00:17:07,200 --> 00:17:09,719 Speaker 1: and scrolling through the phones. The little girl comes running 306 00:17:09,720 --> 00:17:12,000 Speaker 1: by and she just kind of looks up and smiles 307 00:17:12,000 --> 00:17:14,280 Speaker 1: and goes back to her phone. Doesn't pay attention to 308 00:17:14,320 --> 00:17:17,120 Speaker 1: her family. She's not interacting with her family. Everybody else 309 00:17:17,200 --> 00:17:20,040 Speaker 1: is doing stuff, but she's concentrated on her phone. Okay, 310 00:17:20,200 --> 00:17:23,040 Speaker 1: So when you're concentrating on your phone like that, maybe 311 00:17:23,080 --> 00:17:25,439 Speaker 1: you should be checking prices. Maybe you should be checking 312 00:17:25,760 --> 00:17:28,000 Speaker 1: planning ahead in terms of what meals you're going to have, 313 00:17:28,280 --> 00:17:30,080 Speaker 1: and then go out and buy the ingredients on that 314 00:17:30,119 --> 00:17:32,240 Speaker 1: and make sure that you are paying attention to what 315 00:17:32,400 --> 00:17:34,760 Speaker 1: is going on as far as the food prices are concerned, 316 00:17:34,960 --> 00:17:38,200 Speaker 1: instead of constantly getting this I don't know this mind 317 00:17:38,240 --> 00:17:42,879 Speaker 1: garbage of scrolling through and watching stupid videos and stuff 318 00:17:42,920 --> 00:17:47,680 Speaker 1: like that. So again, again, I keep going. I talk 319 00:17:47,720 --> 00:17:51,400 Speaker 1: about this a lot. I pay attention to grocery prices. 320 00:17:51,440 --> 00:17:53,240 Speaker 1: I am one of the few men I know that 321 00:17:53,440 --> 00:17:56,600 Speaker 1: enjoy grocery shopping. And I look at our bill, I 322 00:17:56,600 --> 00:17:59,120 Speaker 1: look at what we're spending on groceries. And I'll say 323 00:17:59,160 --> 00:18:02,240 Speaker 1: this again, I have, you know, looking at grocery prices 324 00:18:02,280 --> 00:18:05,600 Speaker 1: and trying to save and trying to do certain things. 325 00:18:05,920 --> 00:18:08,199 Speaker 1: I always wanted to try to get our grocery prices 326 00:18:08,200 --> 00:18:10,280 Speaker 1: to where we're saving about one hundred bucks a month. 327 00:18:10,600 --> 00:18:13,320 Speaker 1: We are now into the tenth month of the year, 328 00:18:13,720 --> 00:18:16,399 Speaker 1: and we are already have saved so far for this 329 00:18:16,520 --> 00:18:20,159 Speaker 1: year over seventeen I think it's like seventeen hundred and 330 00:18:20,240 --> 00:18:23,280 Speaker 1: fifty dollars just the two of us. Now. Granted we're 331 00:18:23,359 --> 00:18:25,600 Speaker 1: probably a family of three with the way I eat, 332 00:18:25,840 --> 00:18:29,879 Speaker 1: but again, we have saved over seventeen hundred dollars just 333 00:18:30,000 --> 00:18:33,720 Speaker 1: by It takes me fifteen twenty minutes a week to 334 00:18:33,760 --> 00:18:36,320 Speaker 1: do a little bit of comparison shopping between you know, 335 00:18:36,400 --> 00:18:38,720 Speaker 1: the stores that around us, and if I'm in that 336 00:18:38,800 --> 00:18:40,719 Speaker 1: direction or if I'm in that area, I'll run and 337 00:18:40,720 --> 00:18:42,960 Speaker 1: I'll pick up the thing that's on sale, or most 338 00:18:42,960 --> 00:18:44,760 Speaker 1: of the time, I just go to our Kroger store 339 00:18:44,800 --> 00:18:47,200 Speaker 1: which is right up the street, and pay attention to 340 00:18:47,240 --> 00:18:50,760 Speaker 1: those prices and our grocery bills. I'm not noticing any 341 00:18:50,960 --> 00:18:55,080 Speaker 1: major increase. In fact, I'm we're feeling more of a 342 00:18:55,240 --> 00:18:57,720 Speaker 1: decrease in terms of prices when it comes to food. 343 00:18:57,960 --> 00:19:00,920 Speaker 1: So when they start talking about and whining about, I mean, 344 00:19:01,000 --> 00:19:03,920 Speaker 1: maybe if you're out buying refrigerators two and three a year. 345 00:19:03,960 --> 00:19:06,080 Speaker 1: If you're buying a car twice a year, if you're 346 00:19:06,119 --> 00:19:09,840 Speaker 1: buying a television three times a year, that's where you're 347 00:19:09,840 --> 00:19:13,240 Speaker 1: seeing the inflation. But again this constant talk about inflation. 348 00:19:13,520 --> 00:19:16,760 Speaker 1: Compare the numbers, get into the details, look at the numbers, 349 00:19:16,800 --> 00:19:19,199 Speaker 1: and you'll find out that somebody's lying to you. And 350 00:19:19,240 --> 00:19:22,280 Speaker 1: I guarantee you it ain't me. On America's Trucking Network, 351 00:19:22,359 --> 00:19:29,000 Speaker 1: I'm Kevin Gordon, America's Trucking Network, seven hundred WLW. 352 00:19:34,119 --> 00:19:36,760 Speaker 2: Here's your trucking forecast for the Try State and the 353 00:19:36,800 --> 00:19:39,720 Speaker 2: rest of the country and the Try sit overnight clear skies, 354 00:19:39,760 --> 00:19:42,359 Speaker 2: the low down to fifty one Sunday, Wednesday high of 355 00:19:42,359 --> 00:19:46,040 Speaker 2: seventy two, more sunshine Thursday, the high year seventy partly 356 00:19:46,080 --> 00:19:49,920 Speaker 2: sunny Friday a high of seventy one Nationally. Wednesday brings 357 00:19:49,960 --> 00:19:53,120 Speaker 2: a continue marginal risk of excessive rainfall for New Mexico, 358 00:19:53,280 --> 00:19:55,679 Speaker 2: while winter weather and mountains snow are likely in the 359 00:19:55,720 --> 00:19:58,679 Speaker 2: northern Rockies. Meanwhile, the Southern Rockies and the es Central 360 00:19:58,760 --> 00:20:02,320 Speaker 2: High Planes will see the isolated severe weather both Wednesday 361 00:20:02,600 --> 00:20:11,439 Speaker 2: and Thursday. 362 00:20:12,440 --> 00:20:16,720 Speaker 1: Seven hundred WLW. I'm Kevin Gordon, this is America struck a network. 363 00:20:16,880 --> 00:20:19,000 Speaker 1: We missed any part of our program, we missed any 364 00:20:19,080 --> 00:20:22,119 Speaker 1: of our shows? Hit up that iHeartRadio app. All of 365 00:20:22,160 --> 00:20:23,760 Speaker 1: our shows are right there. And of course that's brought 366 00:20:23,800 --> 00:20:26,040 Speaker 1: to you by our friends at Rush Truck Centers. And 367 00:20:26,080 --> 00:20:30,120 Speaker 1: we certainly appreciate that Class eight truck sales orders slide 368 00:20:30,400 --> 00:20:35,119 Speaker 1: forty four percent as to tariffs strain. Well, that headline 369 00:20:35,119 --> 00:20:38,520 Speaker 1: sounds pretty bad, doesn't it. North American Class eight truck 370 00:20:38,640 --> 00:20:42,639 Speaker 1: orders remained below prior year results as tariffs continued to 371 00:20:42,640 --> 00:20:47,160 Speaker 1: squeeze and already stress transportation sector in September. These tariffs 372 00:20:47,160 --> 00:20:49,600 Speaker 1: aren't supposed to go into effect until November. So how 373 00:20:49,600 --> 00:20:52,399 Speaker 1: are they squeezing now? My question? Now, some of the 374 00:20:52,440 --> 00:20:55,240 Speaker 1: components that have come over that are being added to 375 00:20:55,280 --> 00:20:58,920 Speaker 1: the American made trucks. Yeah, but the terraffs on trucks 376 00:20:58,920 --> 00:21:03,560 Speaker 1: being important haven't gone into effect yet. ACT Research preliminary 377 00:21:03,640 --> 00:21:08,000 Speaker 1: data showed that orders decreased forty four percent year over year. 378 00:21:08,359 --> 00:21:12,760 Speaker 1: So if you take our number from September of last 379 00:21:12,840 --> 00:21:16,439 Speaker 1: year in September of this year, it's down forty four percent, 380 00:21:16,760 --> 00:21:20,919 Speaker 1: but they increased fifty seven point six percent from the 381 00:21:21,040 --> 00:21:24,719 Speaker 1: units reported in August. So this gets back to the 382 00:21:24,760 --> 00:21:27,520 Speaker 1: thing that I've been talking about since the end of 383 00:21:27,520 --> 00:21:31,440 Speaker 1: the pandemic. The pandemic kind of knocked things off its 384 00:21:31,480 --> 00:21:34,960 Speaker 1: normal schedule. When you look at business trends and you've 385 00:21:35,000 --> 00:21:38,920 Speaker 1: seen this in your trucking business, you know when your 386 00:21:38,960 --> 00:21:41,800 Speaker 1: customers are going to need you to haul freight certain 387 00:21:41,800 --> 00:21:45,919 Speaker 1: times of the year, slow times, low times, medium times, 388 00:21:45,960 --> 00:21:48,560 Speaker 1: and so on. A lot of this has been knocked 389 00:21:48,560 --> 00:21:51,280 Speaker 1: off as a result of the pandemic. Things that you 390 00:21:51,359 --> 00:21:56,359 Speaker 1: would expect to seem in January don't happen till February. 391 00:21:56,640 --> 00:21:59,480 Speaker 1: Things you expect to see in March are now happening 392 00:21:59,520 --> 00:22:02,439 Speaker 1: in January. Worry, things that you expect to see in 393 00:22:02,480 --> 00:22:07,000 Speaker 1: September may not happen till October, and July may happen 394 00:22:07,040 --> 00:22:09,920 Speaker 1: in June. So all these things are there, and it's 395 00:22:09,960 --> 00:22:12,080 Speaker 1: necessary to kind of look at these as kind of 396 00:22:12,080 --> 00:22:15,760 Speaker 1: a sliding scale of over a three months trend or whatever. 397 00:22:15,960 --> 00:22:19,520 Speaker 1: This kind of gets back to a comparison that like 398 00:22:19,920 --> 00:22:22,879 Speaker 1: football coaches will do, they will break down a game, 399 00:22:23,119 --> 00:22:26,359 Speaker 1: whether it be basketball, they'll break it into segments. They'll 400 00:22:26,680 --> 00:22:30,320 Speaker 1: break it into basketball, college basketball games, or a half. 401 00:22:30,560 --> 00:22:32,800 Speaker 1: So they'll break it into a half of the half, 402 00:22:32,840 --> 00:22:37,280 Speaker 1: so a quarter football quarter, they talk about winning that 403 00:22:37,480 --> 00:22:41,399 Speaker 1: eight minute period of time, winning that fifteen minute period 404 00:22:41,440 --> 00:22:45,639 Speaker 1: of time, So you're not worrying about, Okay, the first minute, 405 00:22:45,640 --> 00:22:48,320 Speaker 1: we're down by three points and then the next we're 406 00:22:48,359 --> 00:22:51,520 Speaker 1: down by two and whatever. You're worried about winning that 407 00:22:51,640 --> 00:22:54,439 Speaker 1: eight and eight minute segment. So it doesn't matter what 408 00:22:54,560 --> 00:22:57,640 Speaker 1: happens at the first minute, second minute, third minute, as 409 00:22:57,680 --> 00:23:00,000 Speaker 1: long as you were making progress and you wind up 410 00:23:00,080 --> 00:23:03,280 Speaker 1: being ahead at the end of that eight minutes. Same thing. 411 00:23:02,960 --> 00:23:05,920 Speaker 1: And like football, if you're winning every quarter, if you're 412 00:23:05,920 --> 00:23:09,320 Speaker 1: winning that fifteen minute segment, the next fifteen minute segment, 413 00:23:09,480 --> 00:23:12,000 Speaker 1: you're going to win the game. And so when you 414 00:23:12,040 --> 00:23:15,280 Speaker 1: stretch these things out, Okay, January may not be what 415 00:23:15,320 --> 00:23:19,000 Speaker 1: it was January last year. February may be better than 416 00:23:19,040 --> 00:23:21,960 Speaker 1: it was last year. March may be about the same 417 00:23:22,000 --> 00:23:24,320 Speaker 1: as it was last year. But you look at those 418 00:23:24,359 --> 00:23:27,520 Speaker 1: three together and you're ahead from last year. And that's 419 00:23:27,560 --> 00:23:30,960 Speaker 1: the thing that people need to concentrate on as opposed to, well, 420 00:23:31,040 --> 00:23:33,480 Speaker 1: this month last year compared to last month is bad, 421 00:23:33,480 --> 00:23:35,399 Speaker 1: But then when you compare it to the previous month, 422 00:23:35,800 --> 00:23:37,679 Speaker 1: things are looking good. So this is the thing that 423 00:23:38,040 --> 00:23:41,000 Speaker 1: kind of throws these three things off. On a six 424 00:23:41,080 --> 00:23:45,320 Speaker 1: and twelve month basis, ors continue to trend down. So 425 00:23:45,520 --> 00:23:48,760 Speaker 1: on the yearly basis they are down. And again I 426 00:23:48,840 --> 00:23:53,280 Speaker 1: talk about what is causing this. Well, when you're talking 427 00:23:53,280 --> 00:23:57,919 Speaker 1: about a eighteen, you know, a class eight truck, the 428 00:23:58,040 --> 00:24:00,840 Speaker 1: tractor that you see hauling for people and not in 429 00:24:00,840 --> 00:24:05,240 Speaker 1: the trucking industry, the cab that haulds that trailer, those 430 00:24:05,359 --> 00:24:09,160 Speaker 1: sell for anywhere from one hundred and eighty thousand dollars 431 00:24:09,200 --> 00:24:11,480 Speaker 1: to two hundred and twenty to two hundred and thirty 432 00:24:11,520 --> 00:24:15,439 Speaker 1: thousand dollars. That's not a cheap piece of equipment. So 433 00:24:15,520 --> 00:24:18,040 Speaker 1: if you're going to buy that, chances are you don't 434 00:24:18,040 --> 00:24:20,320 Speaker 1: have two hundred and thirty thousand dollars laying around. So 435 00:24:20,359 --> 00:24:22,919 Speaker 1: you're going to finance that. And what happens when you 436 00:24:22,960 --> 00:24:25,639 Speaker 1: go to finance that, you've got to talk about interest rates. 437 00:24:25,880 --> 00:24:28,320 Speaker 1: And if interest rates are too damn high, you're not 438 00:24:28,359 --> 00:24:30,960 Speaker 1: going to buy that. If you're talking about doing that 439 00:24:31,080 --> 00:24:33,840 Speaker 1: purchase over a five, six, seven, eight year period of time, 440 00:24:34,240 --> 00:24:36,440 Speaker 1: and you're looking at a seven percent or a six 441 00:24:36,480 --> 00:24:39,920 Speaker 1: percent interest rate versus a two percent interest rate, those 442 00:24:40,040 --> 00:24:44,080 Speaker 1: payments are going to be astronomical. You're trying to go 443 00:24:44,119 --> 00:24:46,480 Speaker 1: out and buy a truck for your company and for 444 00:24:46,600 --> 00:24:50,960 Speaker 1: your individual operation. The fleets are out there trying to 445 00:24:52,240 --> 00:24:56,400 Speaker 1: up their fleets, trying to increase their fleet and turn 446 00:24:56,440 --> 00:25:00,760 Speaker 1: over their fleet about twenty five percent every year, so 447 00:25:00,920 --> 00:25:03,360 Speaker 1: you take about a quarter of the trucks that you own, 448 00:25:03,760 --> 00:25:06,880 Speaker 1: and you try to replace those every four years. When 449 00:25:06,880 --> 00:25:10,520 Speaker 1: you have an interruption like the plandemic, when you had 450 00:25:10,680 --> 00:25:14,280 Speaker 1: all the businesses shut down, you had all the manufacturing 451 00:25:14,280 --> 00:25:17,119 Speaker 1: shut down, so you couldn't buy. Then then you go 452 00:25:17,160 --> 00:25:19,359 Speaker 1: into the following year of twenty twenty one and you 453 00:25:19,440 --> 00:25:22,760 Speaker 1: have supply chain issues and people aren't manufacturing as many 454 00:25:22,840 --> 00:25:25,439 Speaker 1: vehicles as possible. Then all of a sudden, you get 455 00:25:25,480 --> 00:25:29,560 Speaker 1: into twenty twenty two and you see these sales busting 456 00:25:29,760 --> 00:25:32,640 Speaker 1: at the seams because people are trying to make up 457 00:25:32,680 --> 00:25:35,760 Speaker 1: for the two previous years. So some of those vehicles 458 00:25:35,760 --> 00:25:39,159 Speaker 1: that they purchased then are probably still outside that four 459 00:25:39,280 --> 00:25:42,199 Speaker 1: year cycle, and so you're seeing maybe a little bit 460 00:25:42,240 --> 00:25:45,640 Speaker 1: of a shift there where people aren't replacing. Plus there's 461 00:25:45,680 --> 00:25:47,960 Speaker 1: been a lot of businesses like Yellow that went out 462 00:25:47,960 --> 00:25:51,560 Speaker 1: of business. They up their fleet that one of the 463 00:25:51,600 --> 00:25:53,800 Speaker 1: things that one of the reasons that they got there 464 00:25:53,880 --> 00:25:56,320 Speaker 1: they got a loan. Wait a minute, let's back up 465 00:25:56,320 --> 00:26:00,760 Speaker 1: a second. Back during the plandemic, Yellow Corporation got a 466 00:26:00,920 --> 00:26:03,879 Speaker 1: huge loan from the federal government, about a seven hundred 467 00:26:03,920 --> 00:26:06,600 Speaker 1: million dollar loan. They used that money to go out 468 00:26:06,640 --> 00:26:09,360 Speaker 1: and replenish some of their trucks and build up their 469 00:26:09,359 --> 00:26:13,000 Speaker 1: fleet because they were deemed to be an important component 470 00:26:13,080 --> 00:26:15,439 Speaker 1: because a lot of their clients were the Navy bases, 471 00:26:15,600 --> 00:26:20,000 Speaker 1: air Force military bases around the country, and to make 472 00:26:20,040 --> 00:26:22,320 Speaker 1: sure that there was a supply of stuff during the 473 00:26:22,359 --> 00:26:27,280 Speaker 1: pandemic of getting to those individual installations, they deemed it 474 00:26:28,000 --> 00:26:31,879 Speaker 1: the importance of Yellow going into having those funds available 475 00:26:31,960 --> 00:26:35,480 Speaker 1: in order to buy the trucks. Unfortunately, Yellow, with the 476 00:26:35,520 --> 00:26:37,720 Speaker 1: problems that they had been having, they weren't able to 477 00:26:37,720 --> 00:26:41,960 Speaker 1: solve those. They went out of business, but through the bankruptcy, 478 00:26:42,320 --> 00:26:45,320 Speaker 1: selling off the vehicles that they had, auctioning those off, 479 00:26:45,720 --> 00:26:49,760 Speaker 1: looking at the various locations that they had, the warehouses 480 00:26:49,800 --> 00:26:53,119 Speaker 1: that they owned, the distribution centers that they owned, the 481 00:26:53,160 --> 00:26:56,040 Speaker 1: sales of that real estate, the sale of that more 482 00:26:56,080 --> 00:26:58,720 Speaker 1: than had enough money and paid back the federal loan 483 00:26:59,160 --> 00:27:04,120 Speaker 1: plus interest. Far different than we had Solendra during Obama administration, 484 00:27:04,200 --> 00:27:07,560 Speaker 1: where they got five hundred million dollars and paid not 485 00:27:07,760 --> 00:27:11,240 Speaker 1: back one nickel he had. I forget the company that 486 00:27:11,359 --> 00:27:15,600 Speaker 1: Biden administration lent money to went belly up, made some 487 00:27:15,680 --> 00:27:19,880 Speaker 1: of the contributors very wealthy, or gave them a nice paycheck, 488 00:27:20,040 --> 00:27:22,800 Speaker 1: but they went out of business, never recovered any money. 489 00:27:23,000 --> 00:27:25,280 Speaker 1: At least when Yellow went out of business, they not 490 00:27:25,320 --> 00:27:28,520 Speaker 1: only paid back the federal government the loan that they 491 00:27:28,600 --> 00:27:32,960 Speaker 1: had borrowed, but interest included. So those vehicles were out 492 00:27:33,000 --> 00:27:35,320 Speaker 1: on the market and people were buying those and buying 493 00:27:35,359 --> 00:27:38,960 Speaker 1: those up with the truck recession that we've had a 494 00:27:39,000 --> 00:27:41,800 Speaker 1: lot of people that jumped into the market during the 495 00:27:41,840 --> 00:27:45,280 Speaker 1: pandemic that said, hey, you know trucking industry, you know 496 00:27:45,440 --> 00:27:47,679 Speaker 1: freight rates are way high, and I've got you know, 497 00:27:47,680 --> 00:27:49,760 Speaker 1: I've got a CDO license. I'm going to go out 498 00:27:49,760 --> 00:27:51,520 Speaker 1: and buy a truck and I'm gonna make I'm gonna 499 00:27:51,520 --> 00:27:55,399 Speaker 1: make me some money. And so they they just jumped 500 00:27:55,440 --> 00:27:59,359 Speaker 1: into it both feet and forgot the fact that you know, 501 00:27:59,680 --> 00:28:03,399 Speaker 1: you've got to know what you're doing. You've got to 502 00:28:03,520 --> 00:28:07,320 Speaker 1: plan your expenses, you've got to plan your revenue and 503 00:28:07,359 --> 00:28:10,640 Speaker 1: you've got to make good business decisions to stay in business. Well, 504 00:28:10,640 --> 00:28:14,200 Speaker 1: when freight rates started coming down after the pandemic, they 505 00:28:14,240 --> 00:28:17,120 Speaker 1: couldn't make it based on the operations that they had. 506 00:28:17,400 --> 00:28:19,040 Speaker 1: They went out of business. So a lot of these 507 00:28:19,080 --> 00:28:21,400 Speaker 1: late model trucks are out there. That's why you've seen 508 00:28:21,440 --> 00:28:24,560 Speaker 1: the late model trucks on the marketplace that you used 509 00:28:24,600 --> 00:28:28,560 Speaker 1: truck industry being extremely high. So with people being able 510 00:28:28,560 --> 00:28:31,639 Speaker 1: to go out and buy those, the emphasis on the 511 00:28:31,840 --> 00:28:35,160 Speaker 1: new trucks, plus the fact you had during the Biden administration, 512 00:28:35,480 --> 00:28:38,360 Speaker 1: you had these new emissions controls that they wanted to 513 00:28:38,360 --> 00:28:40,560 Speaker 1: put on those and said that they were going to 514 00:28:40,600 --> 00:28:43,600 Speaker 1: implement those going into the year twenty twenty seven. So 515 00:28:43,680 --> 00:28:46,480 Speaker 1: people were holding off their purchases to the end of 516 00:28:46,520 --> 00:28:50,800 Speaker 1: twenty twenty six, to before they made their purchases so 517 00:28:50,840 --> 00:28:54,240 Speaker 1: that they would get the latest model before the prices 518 00:28:54,280 --> 00:28:57,640 Speaker 1: went up tremendously. And so there's been this shuffling of 519 00:28:57,680 --> 00:28:59,960 Speaker 1: the deck back and forth as far as when people 520 00:29:00,000 --> 00:29:02,920 Speaker 1: will want to buy new trucks, the availability of trucks, 521 00:29:03,120 --> 00:29:08,000 Speaker 1: between the tariffs possibly coming in and these emissions controls 522 00:29:08,040 --> 00:29:10,920 Speaker 1: knowing where they're going to settle, and they're still waiting 523 00:29:10,960 --> 00:29:15,360 Speaker 1: on these emissions controls and the final settlement where these 524 00:29:15,400 --> 00:29:18,360 Speaker 1: emission controls are going to be before people jump into 525 00:29:18,400 --> 00:29:20,800 Speaker 1: the market. We'll pick this up coming up. I'm Kevin Gordon, 526 00:29:20,840 --> 00:29:33,320 Speaker 1: America's truck and Network seven hundred WLW. This is America's 527 00:29:33,320 --> 00:29:38,200 Speaker 1: trucking network seven hundred WLW. Continue on this conversation. Class 528 00:29:38,280 --> 00:29:42,200 Speaker 1: eight truck order slide forty four percent. As Tariff's strain 529 00:29:42,640 --> 00:29:47,480 Speaker 1: ACT Research which stands for America Commercial Transportation Research Company. 530 00:29:47,920 --> 00:29:50,400 Speaker 1: They do these surveys and they go through and they 531 00:29:50,800 --> 00:29:54,320 Speaker 1: they actually actually track the sales and then they report 532 00:29:54,360 --> 00:29:58,800 Speaker 1: on the Carter Weiz Research Analystic ACT Research on a 533 00:29:58,880 --> 00:30:01,680 Speaker 1: six and twelve month base. Dis orders continue to trend down. 534 00:30:01,720 --> 00:30:05,480 Speaker 1: We talked about that the longest four higher downturn in 535 00:30:05,840 --> 00:30:09,800 Speaker 1: history continues to weigh on tract or demand as freight 536 00:30:09,880 --> 00:30:14,240 Speaker 1: rates continue to run below inflation levels and even as 537 00:30:14,360 --> 00:30:18,240 Speaker 1: more teriffts are imposed. The nation awaits a verdict on 538 00:30:18,360 --> 00:30:23,200 Speaker 1: the International Emergency Economic Powers Act as far as tariffs 539 00:30:23,240 --> 00:30:26,320 Speaker 1: are concerned in terms of whether they're going to be 540 00:30:26,360 --> 00:30:29,360 Speaker 1: affected by the teriffts or not. So if they're not 541 00:30:29,440 --> 00:30:31,320 Speaker 1: going to be affected by the terriffs, you can put 542 00:30:31,320 --> 00:30:33,080 Speaker 1: off whether or not you're going to make this purchase 543 00:30:33,200 --> 00:30:36,640 Speaker 1: or not. Case the Supreme Court will hear in early November. 544 00:30:36,800 --> 00:30:39,960 Speaker 1: Fife also pointed out that the industry is still awaiting 545 00:30:40,000 --> 00:30:43,560 Speaker 1: the announcement from the Environmental Protection Agency on the future 546 00:30:43,600 --> 00:30:47,560 Speaker 1: of the planned emissions regulations. The agency previously announced that 547 00:30:47,560 --> 00:30:52,040 Speaker 1: that is reconsidering its heavy duty truck emissions regulations related 548 00:30:52,080 --> 00:30:56,880 Speaker 1: to the Phase three greenhouse gas emission standards. Magnus Coke, 549 00:30:57,040 --> 00:31:00,400 Speaker 1: a vice president of Strategy and Marketing and brand management 550 00:31:00,520 --> 00:31:04,760 Speaker 1: Volvo Trucks North America. The North American truck market continues 551 00:31:04,800 --> 00:31:08,440 Speaker 1: to show weakness, with the September industry orders in US 552 00:31:08,480 --> 00:31:12,360 Speaker 1: and Canada coming in just north of nineteen thousand units 553 00:31:12,600 --> 00:31:16,880 Speaker 1: compared to thirty four thousand in September of last year. 554 00:31:17,400 --> 00:31:20,760 Speaker 1: Coke added that the customers are show allowing their fleets 555 00:31:20,800 --> 00:31:26,520 Speaker 1: to age while navigating ongoing uncertainty around inflation, tariffs, and 556 00:31:26,560 --> 00:31:31,600 Speaker 1: the upcoming emissions regulations. So, as I mentioned before, we 557 00:31:31,800 --> 00:31:36,720 Speaker 1: are resilient people. You are resilient business owners of your 558 00:31:36,920 --> 00:31:41,920 Speaker 1: independent operations. Once you know the rules, you can operate 559 00:31:42,160 --> 00:31:46,640 Speaker 1: with almost anything. It's this idea of having this item 560 00:31:46,720 --> 00:31:48,560 Speaker 1: up in the air this item up in the air. 561 00:31:49,480 --> 00:31:52,080 Speaker 1: One item up in the air would be bad enough, 562 00:31:52,400 --> 00:31:56,560 Speaker 1: but when you're jumbling all these other things, it becomes 563 00:31:56,600 --> 00:32:00,880 Speaker 1: extremely complicated. And people look at and they don't mention 564 00:32:01,000 --> 00:32:04,640 Speaker 1: in here at all, which they should. You're not just 565 00:32:05,280 --> 00:32:07,160 Speaker 1: you know, you're just not going out to the money 566 00:32:07,160 --> 00:32:09,920 Speaker 1: tree and pulling money off and going out and buying 567 00:32:09,960 --> 00:32:12,760 Speaker 1: a truck. You're looking at that in terms of financing 568 00:32:12,800 --> 00:32:14,560 Speaker 1: that you're saying, I'm not going to get a return 569 00:32:14,600 --> 00:32:17,960 Speaker 1: on investment if I buy this truck. The amount of 570 00:32:18,000 --> 00:32:21,320 Speaker 1: financing and the operations that I'm going to have, and 571 00:32:21,360 --> 00:32:25,240 Speaker 1: can I afford this? Now, Also, you got to take 572 00:32:25,280 --> 00:32:27,960 Speaker 1: into consideration that if you've got an older truck, the 573 00:32:28,040 --> 00:32:31,760 Speaker 1: possibility of maintenance. So if you're looking at the maintenance 574 00:32:31,840 --> 00:32:34,000 Speaker 1: end of it, every day that truck's off the road, 575 00:32:34,160 --> 00:32:36,880 Speaker 1: you're not earning money. So if you're looking at the 576 00:32:36,920 --> 00:32:39,240 Speaker 1: truck from the stand of a newer truck in terms 577 00:32:39,280 --> 00:32:41,320 Speaker 1: of a number of days on the road versus the 578 00:32:41,360 --> 00:32:44,360 Speaker 1: maintenance days, you look at that versus what you're paying. 579 00:32:44,840 --> 00:32:48,840 Speaker 1: And again I mentioned this. I'm not giving any tax 580 00:32:48,880 --> 00:32:51,680 Speaker 1: advice here, but what you need to do is maybe 581 00:32:51,720 --> 00:32:54,520 Speaker 1: talk to the person that prepares your tax returns, talk 582 00:32:54,600 --> 00:32:56,719 Speaker 1: to it, set up an appointment if you don't have 583 00:32:57,160 --> 00:33:00,480 Speaker 1: a tax attorney or a tax accountant, and may get 584 00:33:00,520 --> 00:33:03,400 Speaker 1: some advice from them. Because you've got this Section one 585 00:33:03,600 --> 00:33:09,160 Speaker 1: seventy nine item from the IRS that in the one 586 00:33:09,280 --> 00:33:13,440 Speaker 1: big beautiful bill that was put through, you can deduct 587 00:33:13,560 --> 00:33:18,080 Speaker 1: from your taxes new equipment up to one point two 588 00:33:18,280 --> 00:33:23,640 Speaker 1: five million dollars one one million, two hundred and fifty 589 00:33:23,720 --> 00:33:28,160 Speaker 1: thousand dollars of equipment purchases. You can depreciate that as 590 00:33:28,200 --> 00:33:31,480 Speaker 1: an expense in the current year. You don't have to 591 00:33:31,520 --> 00:33:33,880 Speaker 1: write that off for a five to seven year period 592 00:33:33,920 --> 00:33:36,800 Speaker 1: of time. So what you need to do and sit 593 00:33:36,840 --> 00:33:39,640 Speaker 1: down with somebody and maybe pay a couple of hundred 594 00:33:39,680 --> 00:33:43,520 Speaker 1: bucks to do this, is run the numbers in terms of, all, right, 595 00:33:43,800 --> 00:33:46,840 Speaker 1: if my finance, if my interest payment on my loan's 596 00:33:46,880 --> 00:33:49,080 Speaker 1: going to be X and such, if I'm not going 597 00:33:49,160 --> 00:33:51,520 Speaker 1: to have the truck off the road because of maintenance, 598 00:33:51,520 --> 00:33:54,240 Speaker 1: and what the maintenance would cost, if I've got the 599 00:33:54,360 --> 00:33:58,200 Speaker 1: higher interest rates on this, if I've got this deduction 600 00:33:58,360 --> 00:34:00,800 Speaker 1: that I can take, so whatever that I make, I 601 00:34:00,800 --> 00:34:03,720 Speaker 1: can deduct one point two five million dollars off of 602 00:34:03,720 --> 00:34:06,120 Speaker 1: that Where am I going to be at the end 603 00:34:06,120 --> 00:34:08,080 Speaker 1: of the year. Will I be making money or will 604 00:34:08,120 --> 00:34:10,600 Speaker 1: I not be making money? Do I need to stand 605 00:34:10,680 --> 00:34:13,040 Speaker 1: pat or should I take the plunge and buy a 606 00:34:13,080 --> 00:34:15,239 Speaker 1: new truck. These are some of the things that have 607 00:34:15,320 --> 00:34:18,160 Speaker 1: to be worked out, and I suggest that you do that. 608 00:34:18,160 --> 00:34:20,839 Speaker 1: That one million, two hundred and fifty thousand dollars right 609 00:34:20,880 --> 00:34:23,280 Speaker 1: off in one year is a heck of a carrot 610 00:34:23,320 --> 00:34:26,240 Speaker 1: out there in terms of being able to purchase something. 611 00:34:27,360 --> 00:34:30,040 Speaker 1: Let's see what else we got in here. They just 612 00:34:30,160 --> 00:34:33,239 Speaker 1: keep going on here about you know, the uncertainty in 613 00:34:33,320 --> 00:34:36,200 Speaker 1: terms of when is the recession going to go the 614 00:34:36,239 --> 00:34:40,640 Speaker 1: truck recession going to go over in terms of UH, 615 00:34:40,760 --> 00:34:45,680 Speaker 1: the other agency, because you've got the ACT Research and 616 00:34:45,719 --> 00:34:49,120 Speaker 1: you've got FTR that does their survey in terms of 617 00:34:49,160 --> 00:34:52,879 Speaker 1: the trucks trucking purchases and their numbers are pretty much 618 00:34:52,960 --> 00:34:57,560 Speaker 1: the same. So again it boils down to the Class 619 00:34:57,560 --> 00:35:00,920 Speaker 1: eight truck sales are down this particular month compared to 620 00:35:01,200 --> 00:35:04,319 Speaker 1: the but they're up. They're up from the previous month, 621 00:35:04,400 --> 00:35:07,960 Speaker 1: but down from this time last year. So these trends 622 00:35:08,000 --> 00:35:11,000 Speaker 1: are have to be paid attention to and has to 623 00:35:11,000 --> 00:35:13,719 Speaker 1: be taken into consideration over a six month period of time. 624 00:35:15,440 --> 00:35:18,359 Speaker 1: Tell you what I want to talk a little well, 625 00:35:18,200 --> 00:35:19,560 Speaker 1: I'll tell you what I'm going to get into this 626 00:35:19,600 --> 00:35:21,759 Speaker 1: particular thing real quick, and then I want to talk 627 00:35:21,800 --> 00:35:25,279 Speaker 1: about oil and gas prices real quick as well. New 628 00:35:25,440 --> 00:35:28,840 Speaker 1: NFIB Survey. Now this is a survey of small businesses 629 00:35:28,880 --> 00:35:35,520 Speaker 1: and it's the National Federation of Independent Business Businesses and 630 00:35:35,640 --> 00:35:38,400 Speaker 1: they do their survey that is different than the consumer 631 00:35:38,520 --> 00:35:41,160 Speaker 1: sentiment survey that we had from the University of Michigan. 632 00:35:41,480 --> 00:35:45,320 Speaker 1: These are actually business owners out there taking this survey 633 00:35:45,440 --> 00:35:49,800 Speaker 1: and determining what the business is out there. New NFIB 634 00:35:50,000 --> 00:35:55,640 Speaker 1: Survey Small Business Optimism declines in September. That's the headline. However, 635 00:35:55,840 --> 00:36:00,840 Speaker 1: when you read it, NFIB Small Business Optimism Index decline 636 00:36:01,320 --> 00:36:06,879 Speaker 1: two points in September to ninety eight point eight. This 637 00:36:07,080 --> 00:36:10,960 Speaker 1: was the first decline, first decline in three months, though 638 00:36:11,000 --> 00:36:15,080 Speaker 1: it remains above the survey's fifty two year average of 639 00:36:15,200 --> 00:36:19,440 Speaker 1: ninety eight. So yeah, it declined, but it's still above 640 00:36:19,480 --> 00:36:23,759 Speaker 1: the fifty two year average, and it's still not it's 641 00:36:23,800 --> 00:36:27,200 Speaker 1: still well above where it should be or where it 642 00:36:27,280 --> 00:36:30,800 Speaker 1: has been. It's also the first decline in the last 643 00:36:30,840 --> 00:36:36,200 Speaker 1: three months. So the uncertainty index rose seven points in October. 644 00:36:36,760 --> 00:36:40,840 Speaker 1: In August rather to one hundred. According to NFIB Chief 645 00:36:40,880 --> 00:36:46,840 Speaker 1: economist Bill Dunkelberg, optimism among small business owners decreased in September. Well, yeah, 646 00:36:47,040 --> 00:36:49,879 Speaker 1: a little bit, but not as dramatic as they would 647 00:36:49,880 --> 00:36:53,480 Speaker 1: have thought. Supply chain and inflation issues stood out as 648 00:36:53,520 --> 00:36:56,720 Speaker 1: the key problem in the report. Net percentage of owners 649 00:36:56,800 --> 00:37:02,000 Speaker 1: raising average selling prices rose three points, So there's three 650 00:37:02,080 --> 00:37:07,439 Speaker 1: percent more of the business owners thinking about raising their prices. 651 00:37:08,719 --> 00:37:13,000 Speaker 1: Let's see a net thirty one percent plan to increase 652 00:37:13,000 --> 00:37:16,920 Speaker 1: prices over the next three months. Fourteen percent of the 653 00:37:16,920 --> 00:37:20,840 Speaker 1: owners reported that inflation was their single most important problem 654 00:37:21,280 --> 00:37:24,799 Speaker 1: fourteen percent out of the total hundred, so eighty six 655 00:37:24,840 --> 00:37:28,760 Speaker 1: percent that wasn't listed as their top priority. So maybe 656 00:37:28,800 --> 00:37:31,359 Speaker 1: inflation isn't all that now the one thing in here 657 00:37:31,400 --> 00:37:34,480 Speaker 1: that made me kind of scratch my head. A net 658 00:37:34,520 --> 00:37:40,319 Speaker 1: negative seven percent of owners viewed current inventory stocks as 659 00:37:40,400 --> 00:37:44,839 Speaker 1: too low in September, down seven points from October. Well, 660 00:37:44,880 --> 00:37:48,720 Speaker 1: if your inventory stocks are down, how about making more 661 00:37:50,000 --> 00:37:52,600 Speaker 1: or buying more so that you have more in your 662 00:37:52,640 --> 00:37:57,520 Speaker 1: inventory stocks. One bright spot was actual earnings changes, the 663 00:37:57,600 --> 00:38:01,400 Speaker 1: percentage of owners reporting higher versus lower profits, which increase 664 00:38:01,480 --> 00:38:06,080 Speaker 1: three months three points in September, so that is going up. 665 00:38:06,400 --> 00:38:09,239 Speaker 1: So the bottom line on this survey is that their 666 00:38:09,360 --> 00:38:12,680 Speaker 1: optimism over the period of time may be down a 667 00:38:12,719 --> 00:38:15,040 Speaker 1: little bit, but if you look at them in terms 668 00:38:15,120 --> 00:38:18,680 Speaker 1: of their current numbers, all of their current numbers are up, 669 00:38:18,960 --> 00:38:23,120 Speaker 1: and they're very optimistic about what the current situation is 670 00:38:23,520 --> 00:38:27,839 Speaker 1: as opposed to the future. One of the areas in 671 00:38:27,880 --> 00:38:32,480 Speaker 1: here that seasonally adjusted sixteen percent owners plan to create 672 00:38:32,600 --> 00:38:35,960 Speaker 1: new jobs in the next three months, up one point 673 00:38:35,960 --> 00:38:40,200 Speaker 1: from August. But they're one big thing that they're talking 674 00:38:40,200 --> 00:38:42,080 Speaker 1: about is that when they go out and try to 675 00:38:42,280 --> 00:38:47,120 Speaker 1: hire more people, they're not finding enough qualified applicants. So 676 00:38:47,600 --> 00:38:50,520 Speaker 1: the jobs that they have to fill, they can't find 677 00:38:50,560 --> 00:38:54,759 Speaker 1: the necessary people with the necessary skills to fill those positions. 678 00:38:55,360 --> 00:38:59,160 Speaker 1: Now that should be looked at as an indictment either 679 00:38:59,239 --> 00:39:03,320 Speaker 1: of the employees themselves showing up that are not ready 680 00:39:03,360 --> 00:39:06,960 Speaker 1: to take on this responsibility, or the failing of our 681 00:39:07,000 --> 00:39:10,600 Speaker 1: schools not having these people up to the skills in 682 00:39:10,719 --> 00:39:13,120 Speaker 1: order to go into the job market. We're not going 683 00:39:13,160 --> 00:39:15,080 Speaker 1: to have time to get oil and gas prices. But 684 00:39:15,160 --> 00:39:19,400 Speaker 1: it is falling and falling interestingly and those prices have 685 00:39:19,480 --> 00:39:23,480 Speaker 1: come down, which again, when you have falling energy prices, 686 00:39:23,640 --> 00:39:26,520 Speaker 1: that's going to be more money in your pocket, so 687 00:39:26,560 --> 00:39:29,920 Speaker 1: that you've got inflation under control. Well, folks, that does 688 00:39:30,000 --> 00:39:31,759 Speaker 1: it for us. Stay tuned for Red Eye Radio at 689 00:39:31,760 --> 00:39:34,560 Speaker 1: the top of the hour. I'm Kevin Gordon, America's truck 690 00:39:34,600 --> 00:39:37,640 Speaker 1: A Network seven hundred WLW