1 00:00:07,000 --> 00:00:10,160 Speaker 1: This is America's Trucking Network with Kevin Gordon. 2 00:00:11,960 --> 00:00:14,480 Speaker 2: Lovable or thanks for tuning in, as we begin our 3 00:00:14,520 --> 00:00:17,640 Speaker 2: week here on America's struck A Network. You know, looking 4 00:00:17,680 --> 00:00:20,520 Speaker 2: at some of the weather reports over the weekend, you know, 5 00:00:20,560 --> 00:00:25,119 Speaker 2: they had all these hurricanes and potential hurricanes title or 6 00:00:25,840 --> 00:00:30,040 Speaker 2: tropical waves is what they were calling them, all mixing 7 00:00:30,120 --> 00:00:34,919 Speaker 2: up in the western Atlantic Ocean near our east coast. Now, 8 00:00:34,920 --> 00:00:37,360 Speaker 2: we did have what was it Amelda that gave a 9 00:00:37,440 --> 00:00:40,400 Speaker 2: little bit of storm surge and I think it took 10 00:00:40,440 --> 00:00:44,960 Speaker 2: out about twelve houses along the North Carolina Shore on 11 00:00:45,000 --> 00:00:48,360 Speaker 2: the outer Banks. Which given the fact that we're in 12 00:00:48,400 --> 00:00:52,240 Speaker 2: the middle of the hurricane season from June one until 13 00:00:52,880 --> 00:00:56,000 Speaker 2: November thirtieth, we have been doing pretty well so far. 14 00:00:56,120 --> 00:01:01,200 Speaker 2: So right now there are no tropical storms tropical cyclones 15 00:01:01,320 --> 00:01:04,120 Speaker 2: in the Atlantic at this time, so that is very 16 00:01:04,160 --> 00:01:08,039 Speaker 2: good news. What is going on, you know, of course 17 00:01:08,040 --> 00:01:11,080 Speaker 2: we've got the government shut down, But what's interesting is 18 00:01:11,120 --> 00:01:13,360 Speaker 2: some of the news that's coming out as a result 19 00:01:13,520 --> 00:01:17,280 Speaker 2: of that. Let's go through this. We have certain economic 20 00:01:17,400 --> 00:01:20,720 Speaker 2: reports that come out from the Bureau of Labor Statistics 21 00:01:20,800 --> 00:01:25,880 Speaker 2: and other organizations attached to the government, which we're supposed 22 00:01:25,880 --> 00:01:28,720 Speaker 2: to come out on Thursday and Friday, but they've been 23 00:01:28,760 --> 00:01:32,920 Speaker 2: delayed as a result of the shutdown. But there's been 24 00:01:32,959 --> 00:01:36,640 Speaker 2: some economic news that has been coming out which is 25 00:01:36,760 --> 00:01:40,360 Speaker 2: interesting how that's gathered, and we'll talk about that in 26 00:01:40,400 --> 00:01:43,320 Speaker 2: a minute. Here a report shows hiring at the lowest 27 00:01:43,400 --> 00:01:46,160 Speaker 2: level since two thousand and nine as economists turned to 28 00:01:46,400 --> 00:01:52,680 Speaker 2: alternate data during shutdown blackout. Unemployment changed little in September, 29 00:01:52,920 --> 00:01:56,600 Speaker 2: while layoff and hiring rates both slowed. According to a 30 00:01:56,640 --> 00:02:01,360 Speaker 2: separate labor market report on the last third, the jobless 31 00:02:01,440 --> 00:02:06,160 Speaker 2: level barely moved at four point three four percent, according 32 00:02:06,160 --> 00:02:09,720 Speaker 2: to the relatively new set of data indicators compiled by 33 00:02:09,760 --> 00:02:14,280 Speaker 2: the Chicago Federal Reserve. Now they stop here for a second. 34 00:02:14,639 --> 00:02:22,400 Speaker 2: The Federal Reserve employs twenty three thousand people. Twenty three 35 00:02:22,400 --> 00:02:26,440 Speaker 2: thousand people. What in the hell do all those people do? 36 00:02:26,960 --> 00:02:30,840 Speaker 2: Why aren't they gathering all this economic data? Why do 37 00:02:30,919 --> 00:02:34,360 Speaker 2: they depend on the Bureau of Labor Statistics? Like I 38 00:02:34,400 --> 00:02:37,360 Speaker 2: said twenty three, what do they do? They hire a 39 00:02:37,360 --> 00:02:40,760 Speaker 2: bunch of these economists and they're supposed to know what 40 00:02:40,800 --> 00:02:43,560 Speaker 2: are they sitting around on their thumbs all day? I mean, 41 00:02:43,800 --> 00:02:47,960 Speaker 2: nobody talks about what they do. Nobody talks about what 42 00:02:48,120 --> 00:02:51,600 Speaker 2: information they gather. And so if they are gathering this 43 00:02:51,760 --> 00:02:55,960 Speaker 2: information and they claim, as they say, is all this 44 00:02:56,080 --> 00:02:59,960 Speaker 2: talk about Donald Trump trying to replace lion Jerry Power? 45 00:03:00,400 --> 00:03:02,240 Speaker 2: And they said, whoa. You know if he does that, 46 00:03:02,320 --> 00:03:06,400 Speaker 2: you know that's going to put into question the independence 47 00:03:06,440 --> 00:03:10,120 Speaker 2: of the Federal Reserve. And when Donald Trump tries to 48 00:03:10,160 --> 00:03:14,440 Speaker 2: nominate somebody to the Federal Reserve, all of a sudden, it's, oh, 49 00:03:14,520 --> 00:03:19,919 Speaker 2: he's trying to make the Federal Reserve more conservative. Well, 50 00:03:20,000 --> 00:03:22,760 Speaker 2: you don't think Joe Biden when he added people to 51 00:03:22,800 --> 00:03:26,320 Speaker 2: the Federal Reserve, or Bill Clinton or Obama that they 52 00:03:26,360 --> 00:03:31,280 Speaker 2: weren't somehow more liberal. As a matter of fact, Austin Goldsby, 53 00:03:31,680 --> 00:03:33,800 Speaker 2: you may have heard that name. He was one of 54 00:03:33,800 --> 00:03:37,760 Speaker 2: the chief economic advisors to Obama. He is now head 55 00:03:37,920 --> 00:03:41,560 Speaker 2: of the Federal Reserve in Chicago for that region. So 56 00:03:42,120 --> 00:03:45,520 Speaker 2: that's a political appointment. And let me tell you some 57 00:03:45,680 --> 00:03:47,920 Speaker 2: of the liberal crap that came out of his mouth 58 00:03:48,000 --> 00:03:51,480 Speaker 2: during the Obama administration and advisory as far as the 59 00:03:51,480 --> 00:03:57,520 Speaker 2: Obama administration was very questionable. So this whole idea of 60 00:03:57,560 --> 00:04:01,520 Speaker 2: the Federal Reserve quote being independent, is independent to a 61 00:04:01,560 --> 00:04:06,600 Speaker 2: certain extent except when a Republican is nominating people. So 62 00:04:06,760 --> 00:04:09,440 Speaker 2: if the Federal Reserve is capable of coming up with 63 00:04:09,560 --> 00:04:13,680 Speaker 2: these statistics, why aren't And of course supposedly they're independent. 64 00:04:13,800 --> 00:04:17,080 Speaker 2: Bureau of Labor statistics is the Department of Treasury is 65 00:04:17,160 --> 00:04:21,000 Speaker 2: under the Department of Treasury. So with that being part 66 00:04:21,080 --> 00:04:24,760 Speaker 2: of the federal government, part of whatever president is in 67 00:04:24,880 --> 00:04:28,320 Speaker 2: office at that time, should they question that or do 68 00:04:28,400 --> 00:04:30,880 Speaker 2: we have just a bunch of bureaucrats in that area 69 00:04:31,200 --> 00:04:34,679 Speaker 2: that really no matter who's in that department, which generally 70 00:04:34,720 --> 00:04:38,880 Speaker 2: is more liberal attainted that, how independent is that information? 71 00:04:39,000 --> 00:04:43,040 Speaker 2: So continue on here. Again, all this data is compiled 72 00:04:43,040 --> 00:04:46,039 Speaker 2: by the Chicago Federal Reserve, which again is headed by 73 00:04:46,160 --> 00:04:49,560 Speaker 2: Austin Goldsby, who is a liberal. I'm not sure how 74 00:04:49,600 --> 00:04:52,480 Speaker 2: much control he has over this, but again that's worth 75 00:04:52,560 --> 00:04:56,680 Speaker 2: noting that represented a little change from August though the 76 00:04:56,760 --> 00:05:01,279 Speaker 2: unemployment rate four point three four percent was just one 77 00:05:01,839 --> 00:05:05,280 Speaker 2: one hundredth of a percentage point away from moving up 78 00:05:05,279 --> 00:05:08,120 Speaker 2: to four point four percent. Now, you don't have to 79 00:05:08,160 --> 00:05:11,480 Speaker 2: be really good at math to figure out that four 80 00:05:11,600 --> 00:05:17,520 Speaker 2: point three four percent plus point one percent would take 81 00:05:17,560 --> 00:05:21,359 Speaker 2: that up to four point three five percent. How is 82 00:05:21,400 --> 00:05:27,279 Speaker 2: that one hundredth of a point away from four percent. Really, 83 00:05:28,080 --> 00:05:31,200 Speaker 2: do they not understand math? Maybe that's probably the problem 84 00:05:31,279 --> 00:05:33,520 Speaker 2: with some of this economic data that we don't have 85 00:05:33,560 --> 00:05:36,240 Speaker 2: anybody that knows how to add, to subtract and multiply 86 00:05:36,320 --> 00:05:41,120 Speaker 2: and divide. Four point three four percent is not a 87 00:05:41,400 --> 00:05:46,360 Speaker 2: one hundredth of a percentage point away from four point 88 00:05:46,480 --> 00:05:50,279 Speaker 2: four percent. It's one hundredth of a point away from 89 00:05:50,480 --> 00:05:54,279 Speaker 2: four point three five percent. But anyway, let's continue on here. 90 00:05:56,200 --> 00:06:00,280 Speaker 2: Four point four percent the highest level since October of 91 00:06:00,279 --> 00:06:04,200 Speaker 2: twenty twenty one, which is false. In September, the Central 92 00:06:04,240 --> 00:06:08,000 Speaker 2: Bank District announced it would be releasing its own dashboard 93 00:06:08,040 --> 00:06:12,600 Speaker 2: of labor market indicators. That also includes the layoff rate, 94 00:06:13,160 --> 00:06:16,920 Speaker 2: which was little change monthly at two point one percent, 95 00:06:17,200 --> 00:06:21,760 Speaker 2: and the hiring rate, which moved closer lower to forty 96 00:06:21,760 --> 00:06:26,120 Speaker 2: five point two percent, down four ten percent from August. 97 00:06:26,400 --> 00:06:30,520 Speaker 2: So if there are all these other agencies out there, 98 00:06:30,920 --> 00:06:34,159 Speaker 2: We've got the ADP payroll report that comes out that 99 00:06:34,240 --> 00:06:40,040 Speaker 2: people rely on. We have the Challenger Challenger Christmas and 100 00:06:40,080 --> 00:06:45,680 Speaker 2: whatever that hiring firm A Challenger Great Challenger Gray and 101 00:06:45,880 --> 00:06:49,600 Speaker 2: Christmas is the name of the organization, and they have 102 00:06:49,720 --> 00:06:52,919 Speaker 2: economic data that they track as far as hirings and 103 00:06:52,960 --> 00:06:56,600 Speaker 2: firings because they do a lot of recruiting and so on, 104 00:06:56,880 --> 00:07:01,000 Speaker 2: so they are aware of it. Why can't these organizations 105 00:07:01,400 --> 00:07:06,119 Speaker 2: prepare and present this economic data rather than the Bureau 106 00:07:06,160 --> 00:07:10,400 Speaker 2: of Labor Statistics and with a bloated bureaucracy. And again, 107 00:07:10,920 --> 00:07:13,760 Speaker 2: if these people are out in the marketplace, if they 108 00:07:13,840 --> 00:07:16,080 Speaker 2: are dealing with it on a day to day basis, 109 00:07:16,320 --> 00:07:19,320 Speaker 2: wouldn't you think that their information is a little bit 110 00:07:19,400 --> 00:07:23,640 Speaker 2: more accurate. And another little thing is that as we 111 00:07:23,720 --> 00:07:26,240 Speaker 2: get into this economic data, as we looked at that 112 00:07:26,640 --> 00:07:29,760 Speaker 2: Bureau of Labor Statistics report where that one lady got 113 00:07:29,800 --> 00:07:32,520 Speaker 2: fired as a result of you know, in the previous 114 00:07:32,600 --> 00:07:36,840 Speaker 2: year they missed the employment. They over reported jobs by 115 00:07:37,120 --> 00:07:40,400 Speaker 2: what was it, eight hundred and eighteen thousand, and then 116 00:07:40,520 --> 00:07:44,680 Speaker 2: this year they overestimated that by nine hundred and eleven thousand. 117 00:07:44,960 --> 00:07:47,920 Speaker 2: In other words, they overestimated the number of jobs that 118 00:07:47,960 --> 00:07:51,559 Speaker 2: were created by nine hundred and eleven thousand. Now, again 119 00:07:51,640 --> 00:07:55,400 Speaker 2: that report was at the from March of last year 120 00:07:55,640 --> 00:07:58,160 Speaker 2: until March of this year, but the data came out 121 00:07:58,200 --> 00:08:02,000 Speaker 2: in August, so they missed that by that much, almost 122 00:08:02,040 --> 00:08:06,240 Speaker 2: a million jobs that they missed or overestimated over the 123 00:08:06,320 --> 00:08:09,240 Speaker 2: last couple mile. Actually, if you add the two years together, 124 00:08:09,600 --> 00:08:14,920 Speaker 2: that's almost one point eight million jobs that were over reported. 125 00:08:15,240 --> 00:08:18,640 Speaker 2: So if they're that bad at gathering that data, why 126 00:08:18,840 --> 00:08:22,720 Speaker 2: is that data being relied upon? And little known fact, 127 00:08:22,960 --> 00:08:26,320 Speaker 2: it's interesting that since Donald Trump has been in office, 128 00:08:26,360 --> 00:08:29,280 Speaker 2: and during his first term as well, when he talks 129 00:08:29,320 --> 00:08:32,959 Speaker 2: about certain things, what he's doing is pulling the curtain 130 00:08:33,120 --> 00:08:36,480 Speaker 2: back on everything that is being done. It's almost like 131 00:08:36,559 --> 00:08:38,920 Speaker 2: the Wizard of Oz, you know, all of a sudden, 132 00:08:39,120 --> 00:08:41,280 Speaker 2: the dog goes up and pulls the curtain back and 133 00:08:41,320 --> 00:08:44,400 Speaker 2: finds out that the wizard is actually somebody behind a 134 00:08:44,480 --> 00:08:47,560 Speaker 2: curtain controlling all the levers, and it's really just a 135 00:08:47,600 --> 00:08:52,840 Speaker 2: man and not some grand wizard. Now, so when he 136 00:08:52,920 --> 00:08:56,520 Speaker 2: pulls the curtain back, we learn certain things. We learn 137 00:08:56,600 --> 00:09:01,160 Speaker 2: that these data from the federal government is based on surveys. 138 00:09:01,840 --> 00:09:04,840 Speaker 2: They send out these surveys they ask for people to 139 00:09:05,000 --> 00:09:09,080 Speaker 2: respond to that the response rate, you know, when they're 140 00:09:09,080 --> 00:09:11,319 Speaker 2: supposed to be done by a certain date, they get 141 00:09:11,360 --> 00:09:15,520 Speaker 2: about a sixty percent result. That's why in the following 142 00:09:15,520 --> 00:09:18,720 Speaker 2: month you see these adjustments because they get more data 143 00:09:18,760 --> 00:09:21,240 Speaker 2: in after the due date and then they usually have 144 00:09:21,320 --> 00:09:24,360 Speaker 2: a third revision because then they get in more of 145 00:09:24,400 --> 00:09:28,520 Speaker 2: these surveys. So if you're depending upon people and it's 146 00:09:28,559 --> 00:09:32,600 Speaker 2: not it's not forced, it's not mandated that they report, 147 00:09:33,000 --> 00:09:38,040 Speaker 2: So all of this report is based on people returning surveys, 148 00:09:38,559 --> 00:09:43,840 Speaker 2: so it's it's not really scientific and obviously not very accurate. 149 00:09:43,880 --> 00:09:46,199 Speaker 2: We'll pick this up on the other side. I'm Kevin Gordon, 150 00:09:46,200 --> 00:09:51,200 Speaker 2: america'struck In Network seven hundred WLW. 151 00:09:51,520 --> 00:09:51,920 Speaker 3: What mean? 152 00:09:52,040 --> 00:09:55,400 Speaker 1: This is the rathing report on America's Trucking Network on 153 00:09:55,559 --> 00:09:57,040 Speaker 1: seven hundred WLW. 154 00:09:57,840 --> 00:10:00,400 Speaker 4: Shane Van Gisberg and got his fifth W the year 155 00:10:00,559 --> 00:10:04,160 Speaker 4: Sunday and is at the Charlotte Roval battling second place KYLEL. 156 00:10:04,240 --> 00:10:07,760 Speaker 4: Larson to the end. NASCAR's Cup Round of eight playoff 157 00:10:07,840 --> 00:10:13,080 Speaker 4: drivers are Larson, Chase Elliott, Denny Hamblin, Ryan Blaney, Chase Briscoe, 158 00:10:13,440 --> 00:10:17,720 Speaker 4: Christopher Bell, Joelgano, and also William Byron. In the Infinity 159 00:10:17,840 --> 00:10:20,920 Speaker 4: race on Saturday of the Roval, Connor Zilich got the win. 160 00:10:21,280 --> 00:10:25,800 Speaker 4: The Infinity Round of eight playoff drivers include Zilig, Brandon Jones, 161 00:10:26,160 --> 00:10:31,480 Speaker 4: Justin Algeier, Sam Mayer, also Sheldon Creed, Christopher Quaffle, Sammy 162 00:10:31,559 --> 00:10:35,439 Speaker 4: Smith and Jesse Love. The NASCAR Playoffs continue this coming 163 00:10:35,480 --> 00:10:39,160 Speaker 4: weekend for the Cup at Infinity. 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It 190 00:12:05,240 --> 00:12:07,160 Speaker 2: was terrifying waiting for the other. 191 00:12:07,080 --> 00:12:07,840 Speaker 7: Sheet to drop. 192 00:12:08,200 --> 00:12:12,400 Speaker 3: Until recently, following chemotherapy, women with recurrent ovarian cancer had 193 00:12:12,440 --> 00:12:16,160 Speaker 3: to simply watch and wait for their disease to come back. Well, 194 00:12:16,240 --> 00:12:19,679 Speaker 3: we say not on my watch, Not on my watch, 195 00:12:20,080 --> 00:12:23,559 Speaker 3: Not on my watch. Now, with maintenance therapies, women can 196 00:12:23,640 --> 00:12:26,559 Speaker 3: extend their time in response and delay recurrence. 197 00:12:26,960 --> 00:12:31,920 Speaker 2: Knowledge and awareness of your choices empowers. 198 00:12:31,160 --> 00:12:33,880 Speaker 1: You and gives you a greater sense of control. 199 00:12:34,080 --> 00:12:36,640 Speaker 2: Let's call for a change in ovarian cancer care. 200 00:12:37,040 --> 00:12:40,400 Speaker 3: But not on my watch movement empowers women facing recurrent 201 00:12:40,440 --> 00:12:43,400 Speaker 3: ovarian cancer to take an informed and active role in 202 00:12:43,520 --> 00:12:47,840 Speaker 3: managing their disease. Visit not on my watch dot com 203 00:12:47,840 --> 00:12:48,560 Speaker 3: to learn more. 204 00:12:49,720 --> 00:12:52,880 Speaker 8: You're one stop for advertising called eight four four eight 205 00:12:52,920 --> 00:12:53,440 Speaker 8: four four. 206 00:12:53,600 --> 00:12:59,760 Speaker 7: Iheart's Radio seven hundred wl WA available anywhere you go. 207 00:13:00,120 --> 00:13:01,760 Speaker 7: The iHeartRadio app. 208 00:13:03,080 --> 00:13:09,800 Speaker 2: Downloaded now. I'm Kevin Gored in America struck a network 209 00:13:09,960 --> 00:13:15,880 Speaker 2: seven hundred WLW talking about this report shows hiring it 210 00:13:16,080 --> 00:13:19,200 Speaker 2: lois since two thousand and nine, as economists turned to 211 00:13:19,400 --> 00:13:24,680 Speaker 2: alternate alternative data during shutdown blackout. They go on to 212 00:13:24,720 --> 00:13:27,040 Speaker 2: report here that represents a little change blah blah blah 213 00:13:27,080 --> 00:13:31,559 Speaker 2: in terms of the unemployment rate. In September, the Central 214 00:13:31,559 --> 00:13:34,600 Speaker 2: Bank announced that it would be releasing its own dashboard. 215 00:13:34,640 --> 00:13:37,440 Speaker 2: I mentioned that in the previous segment, so now we're 216 00:13:37,440 --> 00:13:40,199 Speaker 2: depending on them to release this data. Elsewhere in the 217 00:13:40,240 --> 00:13:45,079 Speaker 2: labor market, outplacement firm Challenger, Great and Christmas reported that 218 00:13:45,200 --> 00:13:50,280 Speaker 2: layoff announcements declined by thirty seven percent in September, and 219 00:13:50,320 --> 00:13:53,360 Speaker 2: we're down twenty six percent from the same month a 220 00:13:53,440 --> 00:13:59,160 Speaker 2: year ago. So again, the layoff announcements declined by thirty 221 00:13:59,200 --> 00:14:01,840 Speaker 2: seven percent, So that means that there's a lot less 222 00:14:01,880 --> 00:14:04,920 Speaker 2: companies that are talking about laying people off to the 223 00:14:04,960 --> 00:14:09,200 Speaker 2: tune of about thirty seven percent and down twenty six 224 00:14:09,240 --> 00:14:12,160 Speaker 2: percent from the same month a year ago. However, the 225 00:14:12,240 --> 00:14:15,520 Speaker 2: year to date level of planning furloughs as the highest 226 00:14:15,559 --> 00:14:19,960 Speaker 2: since twenty twenty, the year of the COVID plandemic I'm sorry, pandemic. 227 00:14:20,000 --> 00:14:24,720 Speaker 2: According to this Challengers said announced cuts have totaled nine 228 00:14:24,800 --> 00:14:29,280 Speaker 2: hundred and forty six thousand, basically nine hundred and forty 229 00:14:29,320 --> 00:14:33,120 Speaker 2: six thousand through the first three quarters. The figure already 230 00:14:33,240 --> 00:14:36,600 Speaker 2: is twenty four percent higher than all of twenty twenty four, 231 00:14:37,040 --> 00:14:40,960 Speaker 2: which kind of discounts or pulls into question what they 232 00:14:41,000 --> 00:14:43,760 Speaker 2: said in the previous paragraph where they set it declined 233 00:14:43,800 --> 00:14:47,000 Speaker 2: thirty seven percent in September, and we're down twenty six 234 00:14:47,120 --> 00:14:50,080 Speaker 2: percent from the same month a year ago, So now 235 00:14:50,080 --> 00:14:52,800 Speaker 2: are they talking about then on a yearly basis, it's 236 00:14:52,800 --> 00:14:56,040 Speaker 2: still already twenty four percent higher than all of twenty 237 00:14:56,080 --> 00:15:00,160 Speaker 2: twenty four. Again, that has to do with company these 238 00:15:00,480 --> 00:15:06,520 Speaker 2: uh switching, companies looking being a little bit leaner, companies 239 00:15:06,680 --> 00:15:10,280 Speaker 2: not hiring as much, companies if people are being what 240 00:15:10,680 --> 00:15:15,000 Speaker 2: people are quitting, are not being replaced. Are some of 241 00:15:15,000 --> 00:15:18,240 Speaker 2: these layoffs? Are they tying in some of the federal 242 00:15:18,480 --> 00:15:21,040 Speaker 2: employees that have been laid off, because that's a whole 243 00:15:21,040 --> 00:15:24,040 Speaker 2: different bucket, But they don't go into that here. And 244 00:15:24,080 --> 00:15:26,480 Speaker 2: the fact that they are able to come up with 245 00:15:26,560 --> 00:15:30,160 Speaker 2: this data and present it, Why are we then dependent 246 00:15:30,240 --> 00:15:33,440 Speaker 2: upon an agency of the federal government doing that? Why 247 00:15:33,440 --> 00:15:36,720 Speaker 2: don't we Why doesn't the federal government outsource some of 248 00:15:36,720 --> 00:15:41,600 Speaker 2: this information to other more reputable organizations, pay a fee, 249 00:15:41,960 --> 00:15:44,400 Speaker 2: pay a fee to get that information or something, or 250 00:15:44,440 --> 00:15:47,040 Speaker 2: allow these companies to just go ahead and gather the 251 00:15:47,120 --> 00:15:50,920 Speaker 2: data and present it, because again it is their job. 252 00:15:51,320 --> 00:15:55,040 Speaker 2: It is them that are doing more outplacement. They are 253 00:15:55,080 --> 00:15:58,600 Speaker 2: doing more higher you know, doing the recruiting, and so 254 00:15:59,120 --> 00:16:02,240 Speaker 2: they would have a lot more accurate data in order 255 00:16:02,280 --> 00:16:06,120 Speaker 2: to present and if they're trying to keep their business afloat, 256 00:16:06,440 --> 00:16:09,120 Speaker 2: they would want to have accurate data. If you're in 257 00:16:09,160 --> 00:16:13,080 Speaker 2: the government and you're off well, like we saw, we 258 00:16:13,120 --> 00:16:15,560 Speaker 2: had the said the lady that was in charge of 259 00:16:15,600 --> 00:16:19,560 Speaker 2: Bureau of Labor Statistics, she blew that number by eight 260 00:16:19,640 --> 00:16:24,160 Speaker 2: hundred and eighteen thousand jobs the previous year, kept her job, 261 00:16:24,520 --> 00:16:27,320 Speaker 2: all the people underneath her kept their job. Then all 262 00:16:27,360 --> 00:16:31,200 Speaker 2: of a sudden, the following year they doubled down more 263 00:16:31,240 --> 00:16:35,360 Speaker 2: than increased that by another nine hundred and eleven thousand, 264 00:16:36,120 --> 00:16:39,480 Speaker 2: and then everybody was surprised when Donald Trump said this 265 00:16:39,520 --> 00:16:42,200 Speaker 2: person needs to be fired. And they said, well, you know, 266 00:16:42,520 --> 00:16:46,200 Speaker 2: now you're messing with the independence of this agency. Who 267 00:16:46,280 --> 00:16:49,040 Speaker 2: cares about the independence of this agency If they're giving 268 00:16:49,080 --> 00:16:52,440 Speaker 2: you crappy data, and they blamed They said, well, you know, 269 00:16:52,520 --> 00:16:55,640 Speaker 2: a lot of the information is coming from other sources. Well, 270 00:16:55,840 --> 00:16:59,080 Speaker 2: I'm sorry. If you're ahead of the organization and the 271 00:16:59,160 --> 00:17:02,520 Speaker 2: people underneath you, you're dependent upon them doing their job, 272 00:17:02,800 --> 00:17:05,439 Speaker 2: and then the people under them doing their job and 273 00:17:05,480 --> 00:17:08,399 Speaker 2: giving you the information, and then the information comes up 274 00:17:08,440 --> 00:17:11,360 Speaker 2: and you're the one that reports it. I would think 275 00:17:11,400 --> 00:17:13,760 Speaker 2: that as the head of that organization and say, you 276 00:17:13,880 --> 00:17:16,359 Speaker 2: better damn well be sure that all this information that 277 00:17:16,400 --> 00:17:18,280 Speaker 2: you're giving me, because I don't want to look bad 278 00:17:18,320 --> 00:17:20,280 Speaker 2: and I don't want to lose my job. Maybe you 279 00:17:20,320 --> 00:17:22,359 Speaker 2: ought to lose your job, and I get somebody else 280 00:17:22,359 --> 00:17:25,159 Speaker 2: in here that'll give us the accurate data. But again, 281 00:17:25,520 --> 00:17:29,040 Speaker 2: in these bureaucracies, it's so difficult to get people fired, 282 00:17:29,240 --> 00:17:32,800 Speaker 2: to get people laid off, or to you know, to 283 00:17:32,840 --> 00:17:36,359 Speaker 2: streamline some of these agencies. And if they're not doing 284 00:17:36,400 --> 00:17:40,399 Speaker 2: these jobs properly, then why are they even there in 285 00:17:40,400 --> 00:17:43,000 Speaker 2: that position to begin with? And I go back to 286 00:17:43,040 --> 00:17:47,960 Speaker 2: the Federal Reserve. Federal Reserve has twenty three thousand employees. 287 00:17:48,400 --> 00:17:52,879 Speaker 2: Now Ron Paul when he ran Paul's father, he was 288 00:17:52,920 --> 00:17:56,760 Speaker 2: a congressman from Texas. He always talked about and introduced 289 00:17:56,760 --> 00:18:00,800 Speaker 2: bills to audit the FED because the Federal depends on 290 00:18:00,840 --> 00:18:03,600 Speaker 2: the Federal Reserve for this information, and they're the ones 291 00:18:03,640 --> 00:18:07,560 Speaker 2: that determine the interest rate as far as that overnight banking, 292 00:18:07,640 --> 00:18:10,119 Speaker 2: and it's you know that four point three percent in 293 00:18:10,200 --> 00:18:12,639 Speaker 2: terms of the banks. If they need money, they borrow 294 00:18:12,640 --> 00:18:15,240 Speaker 2: from other banks, and that's the overnight rate that they borrow, 295 00:18:15,520 --> 00:18:17,720 Speaker 2: and then that affects the interest rates as far as 296 00:18:17,760 --> 00:18:21,440 Speaker 2: credit cards, loans, and then also eventually goes over into 297 00:18:21,480 --> 00:18:24,280 Speaker 2: the housing market and affects the interest rates over there. 298 00:18:24,600 --> 00:18:29,960 Speaker 2: So if this organization is just spiraling out of control, 299 00:18:30,320 --> 00:18:33,480 Speaker 2: has way too many employees. As a matter of fact, 300 00:18:33,680 --> 00:18:38,000 Speaker 2: during this whole flat with Lion Jerry Powell and Donald Trump, 301 00:18:38,359 --> 00:18:40,920 Speaker 2: they said that, well, you know, maybe we do our 302 00:18:41,080 --> 00:18:43,920 Speaker 2: We are a little top heavy, so we'll reduce our 303 00:18:44,200 --> 00:18:48,320 Speaker 2: workforce by about ten percent by twenty twenty seven. We're 304 00:18:48,320 --> 00:18:52,520 Speaker 2: in the private sector. If you're having problems with you're 305 00:18:52,560 --> 00:18:55,479 Speaker 2: losing money and you need to cut costs, how do 306 00:18:55,520 --> 00:18:58,560 Speaker 2: you How can you wait two years before you make 307 00:18:58,600 --> 00:19:03,000 Speaker 2: those adjustments? But the are reserve because who's overseeing them? 308 00:19:03,160 --> 00:19:05,840 Speaker 2: And again Ron Paul and then Rand Paul now is 309 00:19:05,920 --> 00:19:09,920 Speaker 2: calling for the picking up that mantra because Ron Paul retired, 310 00:19:10,080 --> 00:19:11,800 Speaker 2: but Ran Paul has been calling for the audit of 311 00:19:11,840 --> 00:19:14,200 Speaker 2: the FED. And yet these people just you know, people 312 00:19:14,240 --> 00:19:17,000 Speaker 2: in Congress, Senate just say, you know, it's okay, it's 313 00:19:17,000 --> 00:19:19,720 Speaker 2: the FED. You know, they're independent source, and we don't 314 00:19:19,760 --> 00:19:22,280 Speaker 2: want to deal with that. Yet we saw the report 315 00:19:22,680 --> 00:19:25,880 Speaker 2: what was it a couple months ago where the overruns 316 00:19:25,920 --> 00:19:29,080 Speaker 2: they were doing the renovations they are now it was 317 00:19:29,119 --> 00:19:31,560 Speaker 2: supposed to be I forget what the number was, but 318 00:19:31,600 --> 00:19:34,919 Speaker 2: they're now twenty five to forty percent higher than what 319 00:19:35,040 --> 00:19:38,560 Speaker 2: those estimates were to revamp and remodel the Federal Reserve 320 00:19:38,760 --> 00:19:43,520 Speaker 2: building there in Washington. So they're they're not handling that, 321 00:19:44,000 --> 00:19:47,240 Speaker 2: they can't control that. And yet they're talking about, well, 322 00:19:47,280 --> 00:19:49,560 Speaker 2: we are blown. We're going to reduce our work staff 323 00:19:49,600 --> 00:19:53,119 Speaker 2: by ten percent two years from now. So again, you know, 324 00:19:53,720 --> 00:19:58,479 Speaker 2: twenty three thousand employees, what do they do? And nobody 325 00:19:58,520 --> 00:20:01,199 Speaker 2: ever talks about the information and that they gat that 326 00:20:01,320 --> 00:20:03,359 Speaker 2: out of the Federal Reserve. We get this data, we 327 00:20:03,440 --> 00:20:06,240 Speaker 2: get this data, we get this data. They never go 328 00:20:06,320 --> 00:20:09,320 Speaker 2: into detail of that. But yet the spoon feder regurgitators 329 00:20:09,320 --> 00:20:12,439 Speaker 2: in the mainstream media when a headline comes up, boom, 330 00:20:12,440 --> 00:20:15,639 Speaker 2: they repeat it like a bunch of parrots. It's just unbelievable. 331 00:20:15,960 --> 00:20:18,359 Speaker 2: But the fact that Donald Trump has pulled the curtain 332 00:20:18,440 --> 00:20:21,800 Speaker 2: back on these agencies and said, Okay, well, you know, 333 00:20:21,960 --> 00:20:24,800 Speaker 2: they need to be more accurate in terms of the 334 00:20:24,880 --> 00:20:27,119 Speaker 2: data that they give us. And if we're not getting 335 00:20:27,119 --> 00:20:29,320 Speaker 2: the accurate data, the people that are in charge of 336 00:20:29,320 --> 00:20:32,040 Speaker 2: that and Bureau of Labor Statistics or wherever are going 337 00:20:32,119 --> 00:20:33,879 Speaker 2: to get canned. And we're going to get people in 338 00:20:33,880 --> 00:20:36,520 Speaker 2: there that can get the accurate information and put the 339 00:20:36,560 --> 00:20:39,800 Speaker 2: pressure on the FED. With twenty three thousand employees, what 340 00:20:40,000 --> 00:20:43,399 Speaker 2: information are they providing and do they have too many employees? 341 00:20:43,640 --> 00:20:48,240 Speaker 2: So the whole thing is just nuts. Let's see. At 342 00:20:48,280 --> 00:20:51,880 Speaker 2: the same time, firma is hiring plans have receded sharply. 343 00:20:52,320 --> 00:20:55,720 Speaker 2: New hirings totaled just two hundred and four thousand, almost 344 00:20:55,720 --> 00:20:58,200 Speaker 2: two hundred five thousand so far in twenty twenty five, 345 00:20:58,680 --> 00:21:01,760 Speaker 2: off fifty eight percent from the same period a year ago, 346 00:21:02,040 --> 00:21:04,919 Speaker 2: and the lowest level since two thousand and nine. I 347 00:21:05,040 --> 00:21:07,040 Speaker 2: keep harping on the fact that one of the things 348 00:21:07,040 --> 00:21:10,560 Speaker 2: hold the main thing that's holding back our economy at 349 00:21:10,560 --> 00:21:14,760 Speaker 2: this point is interest rates. The fact that interest rates 350 00:21:14,760 --> 00:21:17,320 Speaker 2: are so high compared to the rest of the developed world. 351 00:21:17,600 --> 00:21:20,760 Speaker 2: All the Western countries have that overnight rate that they 352 00:21:20,840 --> 00:21:23,600 Speaker 2: charge the banks charge each other if they borrow money 353 00:21:23,840 --> 00:21:27,080 Speaker 2: is around two percent. Here in the United States, it's 354 00:21:27,119 --> 00:21:31,200 Speaker 2: between four and four point two percent to four point 355 00:21:31,240 --> 00:21:34,720 Speaker 2: two five percent. So why aren't we down a full 356 00:21:34,800 --> 00:21:39,080 Speaker 2: two percentage points lower? Because their unemployment rates are similar 357 00:21:39,119 --> 00:21:42,720 Speaker 2: to ours, their inflation rates are similar to ours, why 358 00:21:42,760 --> 00:21:45,960 Speaker 2: aren't our rates down the way they should be. The 359 00:21:46,040 --> 00:21:49,440 Speaker 2: one main factor is lying Jerry Powell talking about, Oh, 360 00:21:49,480 --> 00:21:52,480 Speaker 2: I'm worried about inflation. Well, you know when they look 361 00:21:52,520 --> 00:21:55,840 Speaker 2: at the inflation and the inflation hasn't creeped up. They 362 00:21:55,880 --> 00:21:58,000 Speaker 2: were saying that we were going to see five six 363 00:21:58,280 --> 00:22:01,160 Speaker 2: seven percent inflation by the end of the year. What 364 00:22:01,200 --> 00:22:05,080 Speaker 2: we're saying is around two point nine two point eight 365 00:22:05,359 --> 00:22:08,919 Speaker 2: and thereabouts. So this inflation that they keep talking about 366 00:22:09,320 --> 00:22:11,760 Speaker 2: just ain't happening. We'll pick this up and a little 367 00:22:11,800 --> 00:22:14,119 Speaker 2: bit more coming up. I'm Kevin Bordon, America's truck in 368 00:22:14,160 --> 00:22:17,720 Speaker 2: Network seven hundred WLW. 369 00:22:17,600 --> 00:22:26,120 Speaker 7: News Traffic and Weather. News Radio seven hundred WLW Cincinnati New. 370 00:22:25,920 --> 00:22:29,520 Speaker 8: Hope Tonight for a ceasefire in Gaza. With your twelve 371 00:22:29,520 --> 00:22:32,320 Speaker 8: thirty report, I'm Travis Lair Breaking. 372 00:22:32,359 --> 00:22:32,560 Speaker 2: Now. 373 00:22:33,520 --> 00:22:36,800 Speaker 8: President Trump is pushing his peace plan as talks begin 374 00:22:37,040 --> 00:22:41,080 Speaker 8: in Egypt. ABC News Chief Foreign correspondent Ian Panel reports 375 00:22:41,080 --> 00:22:41,800 Speaker 8: from Tel Aviv. 376 00:22:42,000 --> 00:22:45,040 Speaker 9: President Trump applying real pressure on promise to Nasaaho to 377 00:22:45,119 --> 00:22:47,359 Speaker 9: agree to this deal, and it really does feel like 378 00:22:47,359 --> 00:22:51,080 Speaker 9: a potentially game changing movement. You've got these indirect toalks 379 00:22:51,160 --> 00:22:55,040 Speaker 9: now underway in Egypt. Egypt Phase one, the President hopes 380 00:22:55,080 --> 00:22:57,280 Speaker 9: could be agreed as early as this week, would mean 381 00:22:57,320 --> 00:23:01,320 Speaker 9: the ceasefi, the release of hostages and I'm Palestinian prisoners, 382 00:23:01,359 --> 00:23:02,360 Speaker 9: and apostial. 383 00:23:02,000 --> 00:23:03,639 Speaker 2: Withdrawal of his Radi troops. 384 00:23:03,840 --> 00:23:06,120 Speaker 9: The key sticking point is going to be Phase two, 385 00:23:06,119 --> 00:23:09,159 Speaker 9: which GOLs the hamass to disarm and relinquished power. 386 00:23:10,040 --> 00:23:13,199 Speaker 7: Now, the ladies forecast from the Train Heating and Cooling 387 00:23:13,240 --> 00:23:16,840 Speaker 7: Weather Center on News Radio seven hundred WLW. 388 00:23:17,600 --> 00:23:20,160 Speaker 10: As we head to day break on Tuesday, we're going 389 00:23:20,200 --> 00:23:22,960 Speaker 10: to see rain and a chance of storms, a morning 390 00:23:23,000 --> 00:23:24,159 Speaker 10: low of sixty five. 391 00:23:24,280 --> 00:23:26,080 Speaker 2: The morning rush will be slow. 392 00:23:26,480 --> 00:23:29,800 Speaker 10: Throughout our Tuesday, We'll see rain and a chance of storms, 393 00:23:30,040 --> 00:23:33,640 Speaker 10: a high at seventy three at night, showers early then 394 00:23:33,760 --> 00:23:37,159 Speaker 10: ending a LOA fifty four from your severe weather station. 395 00:23:37,560 --> 00:23:42,359 Speaker 10: I'm nine First Warning Chief Meteorologist Steve Rawley, News Radio 396 00:23:42,520 --> 00:23:45,480 Speaker 10: seven hundred WLW. 397 00:23:44,680 --> 00:23:47,760 Speaker 8: Right now sixty seven degrees in Cincinnati, and it looks 398 00:23:47,800 --> 00:23:49,760 Speaker 8: like that break from the rain that I mentioned thirty 399 00:23:49,840 --> 00:23:53,600 Speaker 8: minutes ago is about to end. Saint Elizabeth Healthcare is 400 00:23:53,640 --> 00:23:56,040 Speaker 8: taking breast cancer screenings on the road this month. The 401 00:23:56,160 --> 00:23:59,560 Speaker 8: hospital's mobile mimography van is making stops throughout the tri 402 00:23:59,640 --> 00:24:03,320 Speaker 8: State during Breast Cancer Awareness Month, offering quick, low cost 403 00:24:03,359 --> 00:24:06,400 Speaker 8: screenings for women who are forty and older. The entire 404 00:24:06,440 --> 00:24:10,000 Speaker 8: process takes about fifteen minutes, and funding is available for 405 00:24:10,080 --> 00:24:11,480 Speaker 8: those of without insurance. 406 00:24:11,800 --> 00:24:12,280 Speaker 2: The St. 407 00:24:12,320 --> 00:24:15,320 Speaker 8: Elizabeth officials say the van is designed to reach patients 408 00:24:15,359 --> 00:24:18,800 Speaker 8: who might otherwise skip routine screenings because of time or 409 00:24:18,840 --> 00:24:22,200 Speaker 8: travel barriers. Appointments can be made through Saint Elizabeth's My 410 00:24:22,359 --> 00:24:25,800 Speaker 8: Chart portal or by calling the hospital directly. And Early 411 00:24:25,880 --> 00:24:29,800 Speaker 8: voting for Ohio's November fourth general election begins on Tuesday. 412 00:24:30,160 --> 00:24:33,320 Speaker 8: Voters can cast ballots in person at their county Board 413 00:24:33,359 --> 00:24:36,960 Speaker 8: of Elections or by mail through absentee voting. Applications for 414 00:24:37,040 --> 00:24:39,919 Speaker 8: mail in ballots are due October twenty eighth and polls 415 00:24:39,960 --> 00:24:42,639 Speaker 8: will be open on election Day from six thirty am 416 00:24:42,720 --> 00:24:45,879 Speaker 8: to seven thirty pm. Our next update is at one 417 00:24:45,920 --> 00:24:49,440 Speaker 8: o'clock Breaking News anytime. I'm Travis Laird News Radio seven 418 00:24:49,560 --> 00:24:51,760 Speaker 8: hundred WLW BURN. 419 00:24:51,840 --> 00:24:56,000 Speaker 11: Personalized savings on commercial truck insurance with Smarthaul from Progressive 420 00:24:56,119 --> 00:25:01,200 Speaker 11: Insurre a variety of commercial vehicles from cars, pickup trucks, vans, trailers, semis, 421 00:25:01,320 --> 00:25:05,119 Speaker 11: dump anto trucks, and more. Learn more at Progressivecommercial dot com. 422 00:25:05,119 --> 00:25:09,800 Speaker 11: Not available in all states. Your situations. 423 00:25:10,359 --> 00:25:12,720 Speaker 12: Here's your trucking forecast for the Try State and the 424 00:25:12,720 --> 00:25:14,399 Speaker 12: rest of the country. In the Try State of for 425 00:25:14,520 --> 00:25:17,600 Speaker 12: night showers, impossible storms, the low down to fifty six, 426 00:25:17,960 --> 00:25:20,920 Speaker 12: a cold front Tuesday brings more showers and possible storms, 427 00:25:20,960 --> 00:25:23,680 Speaker 12: a high of seventy four Sunday, and cooler Wednesday, a 428 00:25:23,760 --> 00:25:26,800 Speaker 12: high of sixty eight, more sunshine Thursday, and continuing to 429 00:25:26,800 --> 00:25:29,480 Speaker 12: feel more fall like highs again in the upper sixties 430 00:25:29,920 --> 00:25:32,920 Speaker 12: Nationally through Tuesday morning. There's a slight risk of assessive 431 00:25:33,000 --> 00:25:36,200 Speaker 12: rainfall for parts of the Ohio Valley as well as 432 00:25:36,200 --> 00:25:39,120 Speaker 12: the Middle and lower Mississippi Valleys. The Ohio Valley will 433 00:25:39,119 --> 00:25:41,680 Speaker 12: continue to see that risk throughout the day Tuesday as 434 00:25:41,720 --> 00:25:47,120 Speaker 12: well as in the Central Appalachians. 435 00:25:46,119 --> 00:25:49,720 Speaker 2: Seven hundred and WLW. I'm Kevin Gordon. This is America's 436 00:25:49,720 --> 00:25:54,120 Speaker 2: truck in Network. America's trucking networks support submission Rees across America. 437 00:25:54,480 --> 00:25:57,120 Speaker 2: You can hear us every truck and Tuesday at five 438 00:25:57,160 --> 00:26:01,200 Speaker 2: am and ten am Eastern on Race across America Radio. 439 00:26:01,520 --> 00:26:04,720 Speaker 2: Available on the iHeart Radio app. Search the word rease 440 00:26:04,960 --> 00:26:07,760 Speaker 2: for Reese across America Radio. And thank you to all 441 00:26:07,800 --> 00:26:11,120 Speaker 2: our truckers for supporting the mission of Reese across America. 442 00:26:11,320 --> 00:26:13,560 Speaker 2: And by the way, you can hit that Rees if 443 00:26:13,560 --> 00:26:16,480 Speaker 2: you're looking for the word rese that's w R E 444 00:26:16,640 --> 00:26:18,960 Speaker 2: A t HS. So if you're looking for that on 445 00:26:19,000 --> 00:26:23,879 Speaker 2: the iHeartRadio map app, just use the search word rease. Also, 446 00:26:24,160 --> 00:26:26,280 Speaker 2: if you miss any part of our program or any 447 00:26:26,320 --> 00:26:28,960 Speaker 2: of our segments, just hit up that iHeartRadio app for 448 00:26:30,480 --> 00:26:33,280 Speaker 2: America's Trucking Network. Of course, sponsored by our friends at 449 00:26:33,359 --> 00:26:37,800 Speaker 2: Rush Truck Center. Government shutdown threatens key economic data. And 450 00:26:37,800 --> 00:26:40,560 Speaker 2: now this was the thing that was referenced in the 451 00:26:40,560 --> 00:26:43,040 Speaker 2: previous story, and I just kind of skimmed through this 452 00:26:43,080 --> 00:26:47,000 Speaker 2: because there's now there's it's interesting the way they couched 453 00:26:47,040 --> 00:26:50,080 Speaker 2: US Again. This was Uh, this came at the end 454 00:26:50,119 --> 00:26:52,880 Speaker 2: of last week, right before the government shutdown and everything. 455 00:26:53,240 --> 00:26:55,879 Speaker 2: And they're talking about Given uncertainty about the impact that 456 00:26:55,920 --> 00:26:59,560 Speaker 2: Donald Trump's policies are having on the US economy, federal 457 00:26:59,600 --> 00:27:03,600 Speaker 2: gauges of employment, inflation, and spending are all the more important. 458 00:27:03,960 --> 00:27:08,720 Speaker 2: Any postponement could hamper key policy decision, such as whether 459 00:27:08,760 --> 00:27:11,960 Speaker 2: the Federal Reserve should cut interest rates again when it 460 00:27:12,040 --> 00:27:15,760 Speaker 2: meets next month. Again, I rely on what I said before. 461 00:27:16,640 --> 00:27:19,920 Speaker 2: Doesn't the Federal Reserve have this data? Can't they dig 462 00:27:19,960 --> 00:27:21,960 Speaker 2: some of the data out themselves and come up with 463 00:27:22,000 --> 00:27:25,080 Speaker 2: their own information. Can't they rely on some of these 464 00:27:25,119 --> 00:27:28,280 Speaker 2: other sources, some of these other companies out there, that 465 00:27:28,280 --> 00:27:32,080 Speaker 2: that's their job to produce this economic data in order 466 00:27:32,119 --> 00:27:36,359 Speaker 2: for them to be an advisory position to their clients, 467 00:27:36,800 --> 00:27:39,280 Speaker 2: or if they're doing if they're in the hiring business 468 00:27:39,440 --> 00:27:42,760 Speaker 2: where they're doing the outplacement, or if they're doing the 469 00:27:42,880 --> 00:27:49,680 Speaker 2: hiring the interviews for these other companies the recruitment, wouldn't 470 00:27:49,680 --> 00:27:52,160 Speaker 2: they have a much better feel for what these numbers are. 471 00:27:52,440 --> 00:27:56,639 Speaker 2: But of course this is what organization of this. I 472 00:27:56,640 --> 00:27:59,280 Speaker 2: think it's an associated press. Of course, we're not going 473 00:27:59,359 --> 00:28:02,040 Speaker 2: to get and balanced coverage from them. But I thought 474 00:28:02,119 --> 00:28:05,600 Speaker 2: that was an interesting opening paragraph given uncertainty about the 475 00:28:05,640 --> 00:28:09,159 Speaker 2: impact that President Donald Trump's policies are having on the 476 00:28:09,240 --> 00:28:13,560 Speaker 2: US economy. All right, now, this is the same phrase 477 00:28:13,760 --> 00:28:19,800 Speaker 2: that's been used since January, the uncertainty of Trump economic policies. 478 00:28:20,560 --> 00:28:23,840 Speaker 2: So wouldn't you think that by what now, the first 479 00:28:24,280 --> 00:28:29,080 Speaker 2: week of October, that if something was so dire, that 480 00:28:29,440 --> 00:28:32,120 Speaker 2: maybe it would have happened in January or February, March, 481 00:28:32,200 --> 00:28:36,000 Speaker 2: how about July, how about September? But we're into October now, 482 00:28:36,240 --> 00:28:39,040 Speaker 2: and none of it has surfaced that these so called 483 00:28:39,120 --> 00:28:42,800 Speaker 2: economists have been claiming that is going to happen. So 484 00:28:43,000 --> 00:28:45,640 Speaker 2: why do they keep beating this drum? I mean, they're 485 00:28:45,680 --> 00:28:48,680 Speaker 2: starting to look like a bunch of fools. Gregory Daco, 486 00:28:48,920 --> 00:28:52,560 Speaker 2: chief Economists at E. E. Y Parthenon, You don't want 487 00:28:52,600 --> 00:28:57,000 Speaker 2: to be flying blind in a foggy environment. Now, if 488 00:28:57,040 --> 00:29:01,840 Speaker 2: you're an investment strategist at Chief Economy US at this organization, 489 00:29:02,400 --> 00:29:05,800 Speaker 2: wouldn't you think that with your clients, with the people 490 00:29:05,840 --> 00:29:08,920 Speaker 2: that you talk about on a regular basis, that you 491 00:29:09,000 --> 00:29:12,000 Speaker 2: would have some information about this. But I guess that's 492 00:29:12,040 --> 00:29:15,040 Speaker 2: asking too much further on, they start talking about the 493 00:29:15,080 --> 00:29:17,720 Speaker 2: different economic data that is going to be delayed as 494 00:29:17,760 --> 00:29:21,400 Speaker 2: a result of this government shutdown. Now, we've already seen 495 00:29:21,480 --> 00:29:24,720 Speaker 2: that the initial job of claims from last week didn't 496 00:29:24,720 --> 00:29:27,480 Speaker 2: come out on Thursday. Possible that they're not going to 497 00:29:27,480 --> 00:29:31,040 Speaker 2: come out this next Thursday or the Thursday after monthly 498 00:29:31,120 --> 00:29:35,160 Speaker 2: jobs report we're due on October third, Trade balance October 499 00:29:35,200 --> 00:29:39,400 Speaker 2: the seventh, consumer price index on the fifteenth, retail sales 500 00:29:39,400 --> 00:29:43,920 Speaker 2: on the sixteenth, and producer price index on October sixteenth. 501 00:29:44,120 --> 00:29:48,160 Speaker 2: These may all be delayed. Department of Labor, which oversees BLS, 502 00:29:48,280 --> 00:29:54,320 Speaker 2: released updated guidelines that confirm the statistical agency would suspend 503 00:29:54,440 --> 00:29:58,880 Speaker 2: all operations and seize data collection during the lapse during 504 00:29:58,920 --> 00:30:03,080 Speaker 2: the appropriations. Now, again, these are all based on surveys. 505 00:30:03,520 --> 00:30:09,320 Speaker 2: I would think that in the twenty first century that 506 00:30:09,400 --> 00:30:14,160 Speaker 2: we would have better data collection than just sending out 507 00:30:14,200 --> 00:30:17,360 Speaker 2: a survey and hoping that people send that back in. 508 00:30:17,960 --> 00:30:20,080 Speaker 2: Wouldn't you think that they'd have some sort of a 509 00:30:20,240 --> 00:30:24,200 Speaker 2: better gauge at being able to get this information or 510 00:30:24,360 --> 00:30:27,760 Speaker 2: make the survey easier for these companies to fill out, 511 00:30:28,000 --> 00:30:30,760 Speaker 2: so that they'd be more likely to fill it out 512 00:30:31,000 --> 00:30:34,480 Speaker 2: or delay it again, that's why we have these revisions. 513 00:30:34,640 --> 00:30:36,880 Speaker 2: You come out with the data that's supposed to be 514 00:30:36,880 --> 00:30:39,640 Speaker 2: on a date certain than the following month. They adjust 515 00:30:39,720 --> 00:30:42,239 Speaker 2: that based on more data that they get in, and 516 00:30:42,280 --> 00:30:45,480 Speaker 2: then beyond that they have more data that comes in. 517 00:30:45,720 --> 00:30:49,360 Speaker 2: So getting a streamlined situation where it's better for these 518 00:30:49,360 --> 00:30:52,960 Speaker 2: companies to release this information and get it to the 519 00:30:52,960 --> 00:30:56,040 Speaker 2: Bureau of Labor Statistics, I think that would be a 520 00:30:56,080 --> 00:30:59,240 Speaker 2: pretty good idea. BLS has to delay publication and the 521 00:30:59,320 --> 00:31:02,320 Speaker 2: jobs Report and CPI when the government was shut down 522 00:31:02,520 --> 00:31:06,840 Speaker 2: in twenty thirteen. There was a shutdown more recently in 523 00:31:06,880 --> 00:31:11,200 Speaker 2: twenty eighteen twenty nineteen, but prior funding ensured that BLS 524 00:31:11,360 --> 00:31:15,640 Speaker 2: would release major data. And again, if this continuing resolution 525 00:31:15,960 --> 00:31:18,200 Speaker 2: had been put in place, or been allowed to be 526 00:31:18,240 --> 00:31:22,600 Speaker 2: put in break place by Chuck Schumer, this Schumer shutdown 527 00:31:22,840 --> 00:31:27,120 Speaker 2: wouldn't be a problem right now. Let's see Stephen Sanley, 528 00:31:27,520 --> 00:31:33,280 Speaker 2: chief US economists at sand tandor US Capital Markets the 529 00:31:33,360 --> 00:31:36,520 Speaker 2: Fed's next meeting October the twenty eighth and twenty ninth, 530 00:31:36,720 --> 00:31:40,640 Speaker 2: and be harder to justify another interest rate cut without 531 00:31:40,680 --> 00:31:45,520 Speaker 2: having the latest government data. Also said, there's private data 532 00:31:45,560 --> 00:31:49,440 Speaker 2: the federal officials can canvas their contacts and at least 533 00:31:49,520 --> 00:31:52,480 Speaker 2: get a sense of what's going on. But it does 534 00:31:52,560 --> 00:31:56,400 Speaker 2: get tougher if you don't have the big aggregate data 535 00:31:56,520 --> 00:32:00,440 Speaker 2: that we tend to depend on. Again, Wired did him 536 00:32:00,440 --> 00:32:03,400 Speaker 2: on that? And why is this so antiquated and so 537 00:32:03,600 --> 00:32:06,920 Speaker 2: out of date? There's got to be a better way. Now. 538 00:32:06,920 --> 00:32:10,040 Speaker 2: What's interesting is they were talking about the government shutdown. 539 00:32:10,880 --> 00:32:14,240 Speaker 2: And what's interesting you can go back to Ronald Reagan. 540 00:32:15,840 --> 00:32:19,720 Speaker 2: During Ronald Reagan's time in office from nineteen eighty to 541 00:32:19,840 --> 00:32:24,600 Speaker 2: nineteen eighty eight, there was one, two, three, four, five, six, seven, 542 00:32:25,120 --> 00:32:30,760 Speaker 2: eight government shutdowns. Interesting that it's during a Republican presidency. 543 00:32:31,120 --> 00:32:36,040 Speaker 2: George H. W. Bush one shutdown, Bill Clinton two shutdowns. 544 00:32:36,200 --> 00:32:41,400 Speaker 2: Barack Obama won Donald Trump in twenty eighteen, and then 545 00:32:41,520 --> 00:32:45,960 Speaker 2: twenty nineteen there were two government shutdowns. Why is it 546 00:32:46,000 --> 00:32:50,200 Speaker 2: that when Republicans are in office, the Democrats decide that 547 00:32:50,240 --> 00:32:53,480 Speaker 2: they're going to shut down the government. Bill Clinton the 548 00:32:53,520 --> 00:32:57,920 Speaker 2: longest one so far. Well, actually up till twenty eighteen, 549 00:32:57,960 --> 00:33:01,200 Speaker 2: twenty nineteen, the government was shut down for twenty one days. 550 00:33:01,560 --> 00:33:05,440 Speaker 2: During the first Trump term, that was shut down by 551 00:33:05,600 --> 00:33:09,360 Speaker 2: for thirty five days. And it appears as though that 552 00:33:09,440 --> 00:33:14,160 Speaker 2: the I don't know. There's talks and whether or not 553 00:33:14,160 --> 00:33:17,280 Speaker 2: they're going to make some sort of an agreement and 554 00:33:17,280 --> 00:33:20,000 Speaker 2: get the government back open, we don't know. But there 555 00:33:20,400 --> 00:33:24,000 Speaker 2: seems to be still some hesitancy on the part of 556 00:33:24,240 --> 00:33:27,800 Speaker 2: Chucky Schumer and the boys to get this done. Seems 557 00:33:27,840 --> 00:33:31,120 Speaker 2: that they like messing up the economy. They don't care 558 00:33:31,120 --> 00:33:34,040 Speaker 2: about the American economy. They don't care about you and me. 559 00:33:34,360 --> 00:33:36,440 Speaker 2: They just care about their power and they feel it 560 00:33:36,520 --> 00:33:41,960 Speaker 2: slipping away. According to ADP last week, and this was 561 00:33:42,000 --> 00:33:46,320 Speaker 2: some dice the information, they indicated the firms shed thirty 562 00:33:46,320 --> 00:33:50,200 Speaker 2: two thousand jobs in September. According to the ADP, payrolls 563 00:33:50,200 --> 00:33:54,080 Speaker 2: in US companies unexpectedly dropped in September due to, at 564 00:33:54,160 --> 00:33:57,360 Speaker 2: least in part two, issues with data analysis. So again 565 00:33:57,760 --> 00:34:01,680 Speaker 2: they're having problems with their data analogy. They don't explain why, 566 00:34:02,080 --> 00:34:05,760 Speaker 2: but with the data analysis that they use, it appears 567 00:34:05,800 --> 00:34:08,239 Speaker 2: as though they use some of the data from the 568 00:34:08,280 --> 00:34:11,359 Speaker 2: federal government, but then they use the data that they 569 00:34:11,400 --> 00:34:14,160 Speaker 2: have on hand because they process payrolls for a bunch 570 00:34:14,200 --> 00:34:18,560 Speaker 2: of company and so with this data analysis lacking, they 571 00:34:18,600 --> 00:34:21,200 Speaker 2: put out a report that says, well, here's what we 572 00:34:21,280 --> 00:34:24,160 Speaker 2: think happened, but we don't know that this is what happened. 573 00:34:24,360 --> 00:34:28,640 Speaker 2: Private sector payrolls decreased by thirty two thousand after revised 574 00:34:28,800 --> 00:34:33,000 Speaker 2: three thousand declined a month earlier. According to ADP, the 575 00:34:33,040 --> 00:34:36,840 Speaker 2: figure was below all estimates in the Bloomberg Survey of economists. 576 00:34:37,080 --> 00:34:40,480 Speaker 2: Now Bloomberg can go out and survey economists, which again 577 00:34:40,760 --> 00:34:44,400 Speaker 2: they're surveying economists, which apparently they don't have their finger 578 00:34:44,480 --> 00:34:47,239 Speaker 2: on the pulls because their numbers are always wrong, but 579 00:34:47,280 --> 00:34:52,680 Speaker 2: they keep reporting them anyway. ADP noted that their benchmark 580 00:34:52,760 --> 00:34:57,040 Speaker 2: their data based on expansive series from the Bureau of 581 00:34:57,080 --> 00:35:01,640 Speaker 2: Labor Statistics called the Quarterly Sense of of Employment and Wages. 582 00:35:02,480 --> 00:35:06,080 Speaker 2: The recalibration resulted in a reduction of forty three thousand 583 00:35:06,200 --> 00:35:10,879 Speaker 2: jobs in September compared to the benchmark data, indicating that 584 00:35:11,360 --> 00:35:14,120 Speaker 2: if it was thirty two thousand and they were expecting 585 00:35:14,200 --> 00:35:17,560 Speaker 2: thirty three thousand, that there was a slight uptick in 586 00:35:17,600 --> 00:35:22,040 Speaker 2: that period as opposed to a decline. And so again 587 00:35:22,200 --> 00:35:24,840 Speaker 2: a lot of these numbers are in flux because the 588 00:35:24,880 --> 00:35:28,560 Speaker 2: federal government is shut down and they're relying on data, 589 00:35:28,760 --> 00:35:33,000 Speaker 2: that is, they are collecting and assuming what would have 590 00:35:33,080 --> 00:35:36,560 Speaker 2: been collected by the federal government. Coming up, we'll talking 591 00:35:36,560 --> 00:35:38,920 Speaker 2: a little bit more about this and some other mischief. 592 00:35:39,080 --> 00:35:43,000 Speaker 2: I'm Kevin Gordon, America's truck a Network seven hundred WLW. 593 00:35:43,520 --> 00:35:48,680 Speaker 10: Run a business and not thinking about podcasting. 594 00:35:51,320 --> 00:35:57,000 Speaker 2: This is america'structing Network, seven hundred WLW and I'm Kevin Gordon. 595 00:35:57,040 --> 00:35:59,719 Speaker 2: By the way, Going back to this ADP report and 596 00:36:00,040 --> 00:36:02,919 Speaker 2: what they reported last week, it's interesting that they break 597 00:36:02,960 --> 00:36:06,240 Speaker 2: this down and this quote, and this is Nila Richardson, 598 00:36:06,280 --> 00:36:10,400 Speaker 2: she's the chief economist at ADP. Despite the strong economic 599 00:36:10,480 --> 00:36:12,960 Speaker 2: growth we saw on the second quarter, Wait a minute, 600 00:36:13,000 --> 00:36:15,200 Speaker 2: I didn't think we were supposed to see economic growth 601 00:36:15,239 --> 00:36:18,120 Speaker 2: this year because of the tariffs and the economic policies, 602 00:36:18,200 --> 00:36:21,000 Speaker 2: the uncertainty of the Trump administration and so on. So 603 00:36:21,280 --> 00:36:23,879 Speaker 2: you know, apparently it didn't happen, and of course they're 604 00:36:23,920 --> 00:36:27,960 Speaker 2: still waiting for it. Nila Richardson, chief economist's ADP. Despite 605 00:36:28,000 --> 00:36:30,600 Speaker 2: the strong economic growth we saw in the second quarter, 606 00:36:30,800 --> 00:36:34,200 Speaker 2: this month's release further validates what we've been seeing in 607 00:36:34,239 --> 00:36:38,040 Speaker 2: the labor market that US employers have been cautious with hiring. 608 00:36:38,640 --> 00:36:42,200 Speaker 2: Really captain obvious the fact that companies are holding back. 609 00:36:42,239 --> 00:36:45,560 Speaker 2: They say they're holding back because they're not sure of 610 00:36:45,760 --> 00:36:49,120 Speaker 2: whether they can expand or not. And if you're expanding, 611 00:36:49,560 --> 00:36:53,000 Speaker 2: then you are going to hire more employees. You are 612 00:36:53,040 --> 00:36:56,960 Speaker 2: going to add on to your building or hire new employees, 613 00:36:57,239 --> 00:37:00,680 Speaker 2: or you're going to add machinery equipment. In the truck industry, 614 00:37:00,840 --> 00:37:03,360 Speaker 2: you're going to be adding trucks to your fleet, or 615 00:37:03,360 --> 00:37:05,360 Speaker 2: if you're an owner operator, you're going to buy a 616 00:37:05,400 --> 00:37:08,560 Speaker 2: new truck or maybe another truck because your business is 617 00:37:08,560 --> 00:37:13,160 Speaker 2: that strong, or all these things. In the housing market, 618 00:37:13,200 --> 00:37:15,720 Speaker 2: people are holding back. They're not jumping into the housing 619 00:37:15,760 --> 00:37:18,239 Speaker 2: market the way they should. And what is based on 620 00:37:18,320 --> 00:37:21,520 Speaker 2: all that all this stuff that we're talking about, expansion 621 00:37:21,560 --> 00:37:28,040 Speaker 2: of businesses, buying equipment, buying trucks, building additions onto businesses, 622 00:37:28,280 --> 00:37:32,840 Speaker 2: it requires financing. And what is the financing. It's based 623 00:37:32,880 --> 00:37:35,919 Speaker 2: on interest and if interest rates are too high, these 624 00:37:35,960 --> 00:37:38,360 Speaker 2: companies are not going to expand they're not going to 625 00:37:38,400 --> 00:37:42,400 Speaker 2: expand just for the sake of expanding. Companies are hanging 626 00:37:42,440 --> 00:37:45,160 Speaker 2: on to their employees more after what they saw during 627 00:37:45,239 --> 00:37:48,440 Speaker 2: the pandemic when they shut their business or were forced 628 00:37:48,520 --> 00:37:51,960 Speaker 2: to shut their businesses down, and when they went back 629 00:37:52,000 --> 00:37:55,160 Speaker 2: to the rehiring effort trying to get the qualified people 630 00:37:55,239 --> 00:37:58,960 Speaker 2: back in, and yet we saw that anybody that went 631 00:37:59,000 --> 00:38:01,680 Speaker 2: out to any kind of any kind of a store 632 00:38:02,200 --> 00:38:05,560 Speaker 2: that you couldn't find a sales clerk. Some of the 633 00:38:05,600 --> 00:38:10,120 Speaker 2: restaurants they were shorthanded on wait staff. And one of 634 00:38:10,120 --> 00:38:13,960 Speaker 2: the restaurants we went to my wife and I right, no, 635 00:38:14,120 --> 00:38:17,279 Speaker 2: probably about a month after the plandemic and people were 636 00:38:17,320 --> 00:38:20,319 Speaker 2: able to get out and about and start going out 637 00:38:20,320 --> 00:38:23,279 Speaker 2: to restaurants. Some of it they mentioned, hey, you know, 638 00:38:23,680 --> 00:38:27,120 Speaker 2: our kitchens a little slow. We had to hire somebody 639 00:38:27,160 --> 00:38:30,440 Speaker 2: who's never cooked before, and so they're looking at the 640 00:38:30,480 --> 00:38:33,680 Speaker 2: recipes and going, okay, I had this, and I had that, 641 00:38:33,840 --> 00:38:36,280 Speaker 2: and I had that. So the kitchen was really slow. 642 00:38:36,400 --> 00:38:39,840 Speaker 2: And they were explaining that upfront, the fact that once 643 00:38:39,880 --> 00:38:42,600 Speaker 2: they get once you lay off these employees, it's very 644 00:38:42,640 --> 00:38:45,040 Speaker 2: difficult to hire them back. Either a lot of them 645 00:38:45,080 --> 00:38:48,839 Speaker 2: stayed on the unemployment because they were making more unemployment 646 00:38:48,880 --> 00:38:51,280 Speaker 2: than they would on the job, or they took another 647 00:38:51,440 --> 00:38:55,040 Speaker 2: job somewhere else when people started hiring, and they went 648 00:38:55,080 --> 00:38:57,879 Speaker 2: there instead of back to their previous employer. So they 649 00:38:57,880 --> 00:39:01,520 Speaker 2: saw that what happened during the pandemic, and afterwards they said, well, 650 00:39:01,520 --> 00:39:03,520 Speaker 2: we're not going to go through that. Again, We're going 651 00:39:03,600 --> 00:39:06,120 Speaker 2: to hang on to our employees as long as we can. 652 00:39:06,560 --> 00:39:09,719 Speaker 2: So that's why you're not seeing massive layoffs. That's why 653 00:39:09,719 --> 00:39:13,120 Speaker 2: you're not seeing any hiring because again people are being 654 00:39:13,160 --> 00:39:18,440 Speaker 2: forced to stall whatever expansion they're doing because of interest rates. 655 00:39:18,520 --> 00:39:20,640 Speaker 2: How they talk about here and again this is going 656 00:39:20,680 --> 00:39:24,439 Speaker 2: back to the ADP report. Payrolls declined in industries such 657 00:39:24,440 --> 00:39:29,640 Speaker 2: as leisure and hospitality, business services, and financial activities, as 658 00:39:29,719 --> 00:39:34,760 Speaker 2: well as goods producing sectors like construction and manufacturing. Education 659 00:39:35,160 --> 00:39:38,160 Speaker 2: and health services was one of the areas to add 660 00:39:38,200 --> 00:39:41,400 Speaker 2: a headcount. Well, you would expect that in September based 661 00:39:41,440 --> 00:39:44,160 Speaker 2: on back to school that people would be going back 662 00:39:44,200 --> 00:39:47,880 Speaker 2: to work at these schools. Midwest was the only major 663 00:39:48,000 --> 00:39:51,319 Speaker 2: US region that shed jobs, and the clients were concentrated 664 00:39:51,320 --> 00:39:55,360 Speaker 2: in businesses were less than five hundred employees. ADP bases 665 00:39:55,400 --> 00:39:58,840 Speaker 2: its findings on payrolls covering more than twenty six million 666 00:39:59,360 --> 00:40:04,440 Speaker 2: US sector employees in their Labor Report. These are workers 667 00:40:04,480 --> 00:40:08,120 Speaker 2: who changed jobs saw a six point six percent increase 668 00:40:08,160 --> 00:40:13,200 Speaker 2: in pay, the lowest in a year. Those who stayed 669 00:40:13,239 --> 00:40:17,720 Speaker 2: on the job saw four point five percent increase. So again, 670 00:40:17,800 --> 00:40:22,000 Speaker 2: staying on the job or moving or switching jobs. Really 671 00:40:22,120 --> 00:40:24,520 Speaker 2: isn't some of the advantages that it had been in 672 00:40:24,560 --> 00:40:30,839 Speaker 2: the past. Looking at another area which is interesting, Use 673 00:40:30,960 --> 00:40:35,040 Speaker 2: truck sales increase for the third straight month in August. 674 00:40:35,360 --> 00:40:38,319 Speaker 2: Use Class eight truck sales increase year over year for 675 00:40:38,400 --> 00:40:42,480 Speaker 2: the third consecutive month in August, according to ACT Research Now. 676 00:40:42,560 --> 00:40:47,719 Speaker 2: ACT Research stands for America's commercial transportation research company. They 677 00:40:47,800 --> 00:40:51,319 Speaker 2: reported a rise of three point five percent from the 678 00:40:51,400 --> 00:40:55,680 Speaker 2: twenty twenty four period. Months to month, the results were 679 00:40:55,800 --> 00:41:00,720 Speaker 2: flat compared to July numbers. The average retail sale decreased 680 00:41:00,760 --> 00:41:05,680 Speaker 2: by point eight percent in the prior year period and 681 00:41:05,880 --> 00:41:10,439 Speaker 2: slipped seven point one percent sequentially from the previous month. 682 00:41:10,840 --> 00:41:15,440 Speaker 2: Average mileage dropped by half a percentage point. That too, 683 00:41:15,520 --> 00:41:18,959 Speaker 2: was flat for the prior compared to the previous month. 684 00:41:19,520 --> 00:41:23,200 Speaker 2: ACT Research Vice president Steve Tam said the eleven percent 685 00:41:23,440 --> 00:41:26,840 Speaker 2: month to month gain was better than expected on a 686 00:41:26,880 --> 00:41:31,480 Speaker 2: seasonally adjusted basis. The auction market turned in a respectable 687 00:41:31,520 --> 00:41:35,319 Speaker 2: performance that was countered to the expected decline, so they 688 00:41:35,360 --> 00:41:41,160 Speaker 2: expected sales to decline but unexpectedly increase. Auction volumes floated 689 00:41:41,719 --> 00:41:44,400 Speaker 2: three point four percent higher, and so on. They go 690 00:41:44,440 --> 00:41:49,000 Speaker 2: through the statistics let me see Act research also found 691 00:41:49,000 --> 00:41:52,799 Speaker 2: that same dealer used retail sales increased for the first 692 00:41:52,880 --> 00:41:56,320 Speaker 2: time in five months. Tam pointed out that it's typically 693 00:41:56,360 --> 00:42:00,120 Speaker 2: the second best sales month of the year, usually running 694 00:42:00,120 --> 00:42:03,960 Speaker 2: more than eight percent above average. They go on to 695 00:42:04,000 --> 00:42:06,880 Speaker 2: talk a little bit about more about even though the 696 00:42:06,960 --> 00:42:10,560 Speaker 2: summer does not officially end until late September, of course 697 00:42:10,560 --> 00:42:13,360 Speaker 2: their reporting period in the first couple of months or 698 00:42:13,440 --> 00:42:16,480 Speaker 2: first couple of weeks of October, you're still gathering that data. 699 00:42:16,560 --> 00:42:20,880 Speaker 2: So that's not all there together right now. Clearly, August 700 00:42:20,960 --> 00:42:24,040 Speaker 2: did not disappoint this year, at least from a unit 701 00:42:24,120 --> 00:42:29,480 Speaker 2: volume perspective. Industry participants should interpret this as a positive sign. 702 00:42:30,040 --> 00:42:33,440 Speaker 2: JD Power noted in a report that pricing decreased at 703 00:42:33,440 --> 00:42:37,520 Speaker 2: the auction and retail channels during August. The report also 704 00:42:37,560 --> 00:42:41,560 Speaker 2: showed that retail sales volume continues to trend higher when 705 00:42:41,640 --> 00:42:47,080 Speaker 2: compared with prior year. Again, if you're looking to add trucks, 706 00:42:47,280 --> 00:42:50,000 Speaker 2: if you're adding trucks to your fleet, do you go 707 00:42:50,080 --> 00:42:52,560 Speaker 2: out and do you buy a brand new truck or 708 00:42:52,560 --> 00:42:54,839 Speaker 2: do you buy a used truck which is a little 709 00:42:54,880 --> 00:42:57,840 Speaker 2: bit less or a lot less than what a brand 710 00:42:57,880 --> 00:43:00,480 Speaker 2: new truck would be because you want to get somewhat 711 00:43:00,520 --> 00:43:02,839 Speaker 2: of a late model truck in order to keep your 712 00:43:03,200 --> 00:43:06,040 Speaker 2: fleet going. And of course, if you're not keeping your 713 00:43:06,040 --> 00:43:09,960 Speaker 2: fleet up to date, you're going to see rising maintenance costs, 714 00:43:10,239 --> 00:43:12,360 Speaker 2: which means that that truck's going to be off the 715 00:43:12,480 --> 00:43:15,560 Speaker 2: road a lot more frequently, and the trucks in the 716 00:43:15,640 --> 00:43:19,319 Speaker 2: shop it ain't producing revenue. So a lot of this 717 00:43:19,360 --> 00:43:21,320 Speaker 2: is good news. Let's take a quick look at the 718 00:43:21,440 --> 00:43:23,480 Speaker 2: oil and gas before we have to get out of here. 719 00:43:24,040 --> 00:43:28,000 Speaker 2: Oil and well, actually, oil prices have jumped up a 720 00:43:28,040 --> 00:43:32,520 Speaker 2: little bit higher today. West Texas intermediate crude currently is 721 00:43:32,560 --> 00:43:35,160 Speaker 2: sixty one dollars and sixty nine cents a barrel. That's 722 00:43:35,239 --> 00:43:38,040 Speaker 2: up eighty one cents or one point three to three percent. 723 00:43:38,360 --> 00:43:41,320 Speaker 2: Brent crude currently sixty five dollars and forty six cents. 724 00:43:41,520 --> 00:43:44,759 Speaker 2: That's up almost a dollar as well, one point four 725 00:43:44,760 --> 00:43:48,439 Speaker 2: to four percent. Now, just since January, since Donald Trump 726 00:43:48,520 --> 00:43:53,440 Speaker 2: took office, West Texas intermediate crud is down fifteen dollars 727 00:43:53,480 --> 00:43:57,080 Speaker 2: and twenty cents a barrel, or twenty percent. Brent crude 728 00:43:57,120 --> 00:43:59,880 Speaker 2: is down fourteen dollars and forty four cents or eight 729 00:44:00,000 --> 00:44:04,279 Speaker 2: eighteen percent. Down just since January, So that's good on 730 00:44:04,320 --> 00:44:09,040 Speaker 2: that department. Looking at current average nationwide average of gasoline, 731 00:44:09,680 --> 00:44:12,480 Speaker 2: current national average is three dollars and thirteen cents a 732 00:44:12,520 --> 00:44:17,319 Speaker 2: gallon compared to and diesel is currently at three dollars 733 00:44:17,360 --> 00:44:20,719 Speaker 2: and sixty eight cents. Now, when you go back to 734 00:44:20,800 --> 00:44:23,319 Speaker 2: a year ago, we are not much changed from a 735 00:44:23,360 --> 00:44:27,760 Speaker 2: year ago. And with oil prices being down twenty percent 736 00:44:27,920 --> 00:44:32,760 Speaker 2: and eighteen percent, respectively, I would have expected, I do expect, 737 00:44:32,800 --> 00:44:36,560 Speaker 2: and I don't understand what gas prices aren't comparably down 738 00:44:36,960 --> 00:44:41,360 Speaker 2: about ten or fifteen percent below than what they are. Again, 739 00:44:41,560 --> 00:44:44,560 Speaker 2: if oil prices are down, that goes into the refinery 740 00:44:44,920 --> 00:44:48,960 Speaker 2: it's being refined. The lower cost going in should equal 741 00:44:49,040 --> 00:44:52,200 Speaker 2: to the lower costs coming out. But we keep hearing 742 00:44:52,239 --> 00:44:55,480 Speaker 2: that all the retooling, that some of these refineries are 743 00:44:55,520 --> 00:44:58,840 Speaker 2: closed for maintenance, or you've got the summer blend, or 744 00:44:58,880 --> 00:45:01,839 Speaker 2: you've got this, that or the other excuse, Whereas it 745 00:45:02,000 --> 00:45:07,400 Speaker 2: appears to me that something is not pushing these prices down. Again, 746 00:45:07,520 --> 00:45:10,600 Speaker 2: if you compare these prices back to twenty twenty, when 747 00:45:10,680 --> 00:45:13,760 Speaker 2: we were energy independent for the first time since nineteen 748 00:45:13,880 --> 00:45:17,240 Speaker 2: forty nine, gasoline was at two dollars and twenty six cents, 749 00:45:17,400 --> 00:45:20,400 Speaker 2: so we were thirty eight percent higher now than we 750 00:45:20,400 --> 00:45:23,520 Speaker 2: were back then. You shave off another fifteen percent from 751 00:45:23,520 --> 00:45:27,160 Speaker 2: that number up above, and we get closer to those numbers. 752 00:45:27,360 --> 00:45:30,200 Speaker 2: So that would be a good thing if that would 753 00:45:30,239 --> 00:45:35,520 Speaker 2: start transferring what oil prices are to the retail sector. 754 00:45:35,880 --> 00:45:39,160 Speaker 2: So again a lot going on. Now. What is going 755 00:45:39,200 --> 00:45:41,960 Speaker 2: on right now is that oil price is increasing a 756 00:45:42,040 --> 00:45:45,000 Speaker 2: little bit because over the weekend OPEC had their meeting 757 00:45:45,360 --> 00:45:47,960 Speaker 2: and they decided that they were going to continue their 758 00:45:48,080 --> 00:45:50,799 Speaker 2: increased output, but it was only going to be one 759 00:45:50,880 --> 00:45:53,920 Speaker 2: hundred and thirty seven thousand barrels per day. However, if 760 00:45:53,920 --> 00:45:56,319 Speaker 2: you compare that back to where they were at the 761 00:45:56,320 --> 00:45:59,680 Speaker 2: beginning of the year, they have increased their volume by 762 00:45:59,680 --> 00:46:03,279 Speaker 2: two point five million barrels per day from what they 763 00:46:03,280 --> 00:46:06,200 Speaker 2: were last year. And you would think that that would 764 00:46:06,239 --> 00:46:09,240 Speaker 2: present a little bit of a glut in the oil markets, 765 00:46:09,600 --> 00:46:13,759 Speaker 2: but that has been eaten up by the increased activity 766 00:46:14,080 --> 00:46:17,799 Speaker 2: and increased usage. So the volumes of the increase in 767 00:46:17,960 --> 00:46:22,920 Speaker 2: oil production, but the inventories aren't going up because the 768 00:46:23,000 --> 00:46:26,520 Speaker 2: economy is strong and people are out driving and using 769 00:46:26,520 --> 00:46:29,800 Speaker 2: that oil so again and buying up that guess well, folks, 770 00:46:29,800 --> 00:46:31,640 Speaker 2: that does it for us. Stay tuned for EDI Radio 771 00:46:31,760 --> 00:46:35,120 Speaker 2: Top of the Hour. I'm Kevin Gordon, America's Trucking Network 772 00:46:35,360 --> 00:46:40,160 Speaker 2: seven hundred WLW News, Traffic and Weather. 773 00:46:40,760 --> 00:46:45,280 Speaker 7: News Radio seven hundred WLW, Cincinnati. 774 00:46:46,400 --> 00:46:49,680 Speaker 8: A new round of US broker talks is underway in 775 00:46:49,800 --> 00:46:54,200 Speaker 8: Egypt on President Trump's plan to end the war in Gaza. 776 00:46:54,280 --> 00:46:55,359 Speaker 2: With your Top of the Hour