1 00:00:02,400 --> 00:00:05,240 Speaker 1: This is America's Trucking Network with Kevin Gordon. 2 00:00:07,680 --> 00:00:11,240 Speaker 2: Welcome aboard, Thanks for tuning in on this Tuesday morning. 3 00:00:12,080 --> 00:00:13,680 Speaker 3: Well, just when you thought it. 4 00:00:13,720 --> 00:00:15,920 Speaker 2: Was safe to go back into the pool and that 5 00:00:16,040 --> 00:00:18,320 Speaker 2: things were going to get back to normal as far 6 00:00:18,320 --> 00:00:22,640 Speaker 2: as government operations, government reports and things getting back on 7 00:00:22,680 --> 00:00:25,599 Speaker 2: some sort of an even keel lo and behold, the 8 00:00:25,640 --> 00:00:27,360 Speaker 2: Democrats decide that they're going. 9 00:00:27,320 --> 00:00:29,720 Speaker 3: To throw a hissy fit because I guess. 10 00:00:29,520 --> 00:00:34,040 Speaker 2: They want illegal immigrants, They want murderers, rapists, child predators 11 00:00:34,240 --> 00:00:37,640 Speaker 2: and stuff living in this country and don't want any 12 00:00:37,680 --> 00:00:40,800 Speaker 2: of those people to be deported, apparently, according to what 13 00:00:40,840 --> 00:00:44,199 Speaker 2: they're saying, not only in Minneapolis but around the country. 14 00:00:44,520 --> 00:00:49,159 Speaker 2: And it just boggles my mind how any organization or 15 00:00:49,200 --> 00:00:53,080 Speaker 2: any party can actually be a party to that. Now, 16 00:00:53,400 --> 00:00:56,840 Speaker 2: last week we got some some of I guess the 17 00:00:56,920 --> 00:01:01,640 Speaker 2: last government information or government report words on the economy, 18 00:01:01,880 --> 00:01:06,200 Speaker 2: and we'll go through those, but this shutdown is absolutely ridiculous. 19 00:01:06,400 --> 00:01:10,319 Speaker 2: They're talking about holding up funding for a Department of 20 00:01:10,360 --> 00:01:14,320 Speaker 2: Homeland Security, which is already funded for the next two years, 21 00:01:14,680 --> 00:01:17,840 Speaker 2: and I guess they want some reforms or something, and 22 00:01:17,880 --> 00:01:21,199 Speaker 2: it is I'm not even gonna go bother getting into 23 00:01:21,240 --> 00:01:24,480 Speaker 2: it because the demands and what they want are so 24 00:01:24,720 --> 00:01:29,360 Speaker 2: totally insane. I keep saying, when you have a situation 25 00:01:29,840 --> 00:01:33,160 Speaker 2: where you got somebody that shows up at a party, 26 00:01:33,360 --> 00:01:36,640 Speaker 2: I don't care what type of whatever analogy you want 27 00:01:36,640 --> 00:01:39,800 Speaker 2: to make on it, whatever party with frat party or whatever, 28 00:01:40,160 --> 00:01:42,800 Speaker 2: but somebody comes in, they're drunk out of their mind, 29 00:01:42,840 --> 00:01:45,640 Speaker 2: They're causing all kinds of trouble, and they wind up 30 00:01:45,680 --> 00:01:48,720 Speaker 2: throwing up on the floor, and then as people are 31 00:01:48,800 --> 00:01:52,120 Speaker 2: starting to clean it up, they come over and criticize 32 00:01:52,160 --> 00:01:55,800 Speaker 2: the method by which they are cleaning it up, Shut up. 33 00:01:55,680 --> 00:01:56,400 Speaker 3: And go away. 34 00:01:56,520 --> 00:01:59,440 Speaker 2: So anyway, that's my two cents worth on that, which, 35 00:01:59,480 --> 00:02:01,640 Speaker 2: by the way, I guess it's going to have to 36 00:02:01,720 --> 00:02:04,320 Speaker 2: be five cents worth because we don't have pennies anymore, 37 00:02:04,520 --> 00:02:08,560 Speaker 2: which is another subject for a different day. Producer Price 38 00:02:08,639 --> 00:02:12,520 Speaker 2: Index came out last week, and I should have known 39 00:02:12,880 --> 00:02:16,200 Speaker 2: when I heard the headlines and I heard people talking 40 00:02:16,240 --> 00:02:20,400 Speaker 2: about it and the national media, the spoon fed regurgitators 41 00:02:20,400 --> 00:02:25,079 Speaker 2: in the mainstream media, and quite honestly, anymore, it seems 42 00:02:25,120 --> 00:02:28,720 Speaker 2: that how do I say it, that the one organization 43 00:02:28,880 --> 00:02:31,600 Speaker 2: that you would expect to give us the straight scoop 44 00:02:31,639 --> 00:02:34,840 Speaker 2: on everything Fox News, they punt on so much. 45 00:02:34,760 --> 00:02:35,440 Speaker 3: Of this stuff. 46 00:02:35,919 --> 00:02:38,800 Speaker 2: It seems like a lot of their talk show hosts 47 00:02:39,120 --> 00:02:42,079 Speaker 2: just want to skim across the top of it. They 48 00:02:42,120 --> 00:02:46,359 Speaker 2: want to concentrate so much on all the violations, all 49 00:02:46,400 --> 00:02:49,800 Speaker 2: the rioting, all the stuff going on in Minneapolis, and 50 00:02:49,919 --> 00:02:53,400 Speaker 2: want to keep repeating that and repeating that over and 51 00:02:53,480 --> 00:02:56,639 Speaker 2: over again every one of their shows from about five 52 00:02:56,639 --> 00:03:00,560 Speaker 2: o'clock in the afternoon until midnight, All Star Off and 53 00:03:00,680 --> 00:03:04,239 Speaker 2: talk about roughly the same thing. Nobody digs into the 54 00:03:04,320 --> 00:03:07,200 Speaker 2: numbers the way we do here on America's truck and Network. 55 00:03:07,440 --> 00:03:10,240 Speaker 2: They let the people that come on their programs, the 56 00:03:10,320 --> 00:03:12,640 Speaker 2: liberals that come on there kind of do what I 57 00:03:12,760 --> 00:03:18,920 Speaker 2: call a kind of a drive by criticism, and because 58 00:03:19,040 --> 00:03:22,079 Speaker 2: either they're not prepared for it, or there's some sort 59 00:03:22,120 --> 00:03:24,640 Speaker 2: of rule that since there's a liberal on the program 60 00:03:24,800 --> 00:03:27,239 Speaker 2: that you can't well, once in a while they do 61 00:03:27,400 --> 00:03:30,040 Speaker 2: shout them down, not shout them down, but point out 62 00:03:30,120 --> 00:03:31,600 Speaker 2: to them where they're inaccurate. 63 00:03:31,919 --> 00:03:34,760 Speaker 3: But it just doesn't seem that there's much of a pushback. 64 00:03:35,040 --> 00:03:40,120 Speaker 2: But the same stories get regurgitated and regurgitated all day long, 65 00:03:40,520 --> 00:03:42,720 Speaker 2: and they don't dig into the numbers as we do 66 00:03:42,920 --> 00:03:45,680 Speaker 2: here and try to explain what's going on as far 67 00:03:45,720 --> 00:03:48,840 Speaker 2: as the economy. And I find it extremely important on 68 00:03:48,920 --> 00:03:54,119 Speaker 2: this show because according to the American Truck Truck America's 69 00:03:54,160 --> 00:03:59,080 Speaker 2: Trucking Research Institute, that one of the biggest concerns for 70 00:03:59,200 --> 00:04:02,560 Speaker 2: you out there as you're driving along is the economy. 71 00:04:03,240 --> 00:04:07,080 Speaker 2: And if you're worried about the economy, that's taking that's 72 00:04:07,240 --> 00:04:10,480 Speaker 2: taking up space, that's renting space in your head that 73 00:04:10,560 --> 00:04:13,320 Speaker 2: doesn't need to be there. I am seeing all kinds 74 00:04:13,360 --> 00:04:16,320 Speaker 2: of encouraging signs from some of the major companies in 75 00:04:16,400 --> 00:04:21,840 Speaker 2: terms of looking at possible merger and acquisition activities or 76 00:04:22,000 --> 00:04:25,239 Speaker 2: looking at how they can regear some things around because 77 00:04:25,320 --> 00:04:28,760 Speaker 2: they are anticipating things to pop up as far as 78 00:04:28,800 --> 00:04:33,480 Speaker 2: the end of the freight recession. And I'm seeing numbers 79 00:04:33,520 --> 00:04:37,240 Speaker 2: across in terms of gross domestic product. Again, I want 80 00:04:37,279 --> 00:04:40,239 Speaker 2: to reiterate the fact that back in Non Liberation Day 81 00:04:40,480 --> 00:04:43,640 Speaker 2: April second, they were talking about we would be lucky 82 00:04:43,960 --> 00:04:46,880 Speaker 2: if we had a one point eight to two percent 83 00:04:47,040 --> 00:04:50,239 Speaker 2: gross domestic product by the end of the year, which 84 00:04:50,360 --> 00:04:54,400 Speaker 2: is extremely anemic and teetering on or right up above 85 00:04:54,600 --> 00:04:58,960 Speaker 2: what you would consider possibility of recession. I said at 86 00:04:58,960 --> 00:05:01,359 Speaker 2: the time, and I'll re iterate that that at that 87 00:05:01,520 --> 00:05:03,960 Speaker 2: time I said I would not be surprised that by 88 00:05:04,000 --> 00:05:06,440 Speaker 2: the end of the year we would see gross domestic 89 00:05:06,560 --> 00:05:09,919 Speaker 2: product somewhere between four and a half to five percent. 90 00:05:10,480 --> 00:05:13,760 Speaker 2: And now the Federal Reserve out of Atlanta is predicting 91 00:05:13,800 --> 00:05:16,039 Speaker 2: that in the fourth quarter when we get those numbers, 92 00:05:16,279 --> 00:05:19,680 Speaker 2: it's going to be around five point four percent. So 93 00:05:19,800 --> 00:05:22,800 Speaker 2: who was right and who was wrong? We've been talking 94 00:05:22,839 --> 00:05:25,480 Speaker 2: about We've been hearing the Federal Reserve. We've been hearing 95 00:05:25,520 --> 00:05:28,560 Speaker 2: all kinds of people talking about this inflation having to 96 00:05:28,560 --> 00:05:31,400 Speaker 2: do with tariffs and so on. And apparently they didn't 97 00:05:31,440 --> 00:05:34,359 Speaker 2: have the economics professor that I had that talked about 98 00:05:34,360 --> 00:05:37,440 Speaker 2: how tariffs were one of the biggest revenue producers for 99 00:05:37,520 --> 00:05:38,320 Speaker 2: the United. 100 00:05:38,000 --> 00:05:39,960 Speaker 3: States up until World War. 101 00:05:39,800 --> 00:05:42,720 Speaker 2: One, and then they instituted the income tax, and then 102 00:05:42,760 --> 00:05:45,800 Speaker 2: that story took away from the terriffs at the end. 103 00:05:45,640 --> 00:05:48,560 Speaker 3: Of World War II, World War One, and World. 104 00:05:48,400 --> 00:05:52,360 Speaker 2: War Two, because Europe was so devastated, we allowed them 105 00:05:52,400 --> 00:05:55,040 Speaker 2: to put tariffs on our goods coming in there while 106 00:05:55,080 --> 00:05:57,960 Speaker 2: they built up their economy and got back on their feet, 107 00:05:58,120 --> 00:06:00,839 Speaker 2: and those tariffs never came off. We were to trade 108 00:06:00,880 --> 00:06:03,800 Speaker 2: imbalance with them. We were not charging any tariffs on 109 00:06:03,839 --> 00:06:06,520 Speaker 2: theirs stuff coming into this country, and they were charging 110 00:06:06,600 --> 00:06:10,840 Speaker 2: us exorbitant amounts. You don't see cadillacs, you don't see 111 00:06:11,120 --> 00:06:15,080 Speaker 2: SUVs in Europe, you don't see Ford pickup trucks one 112 00:06:15,240 --> 00:06:19,120 Speaker 2: fifties or anything in Japan, because we will take their products, 113 00:06:19,160 --> 00:06:21,920 Speaker 2: but they won't take ours, and so that put us 114 00:06:21,920 --> 00:06:25,599 Speaker 2: at a tremendous disadvantage. Trump steps in and says, Okay, 115 00:06:25,760 --> 00:06:28,080 Speaker 2: enough's enough. You know, World War Two has been over 116 00:06:28,120 --> 00:06:30,279 Speaker 2: for a long period of time. It's time to get 117 00:06:30,279 --> 00:06:34,120 Speaker 2: back in trade balance. If you're going to charge us terriffs, 118 00:06:34,160 --> 00:06:37,120 Speaker 2: we are going to charge you reciprocal tariffs. And that's 119 00:06:37,160 --> 00:06:39,760 Speaker 2: all basically what was done to try to get those 120 00:06:39,880 --> 00:06:42,840 Speaker 2: costs down. And what was shown and what has been 121 00:06:42,880 --> 00:06:45,719 Speaker 2: talked about in the past, the terriffs don't necessarily lead 122 00:06:45,760 --> 00:06:48,640 Speaker 2: to inflation. Certain items will go up, certain itmes will 123 00:06:48,640 --> 00:06:50,920 Speaker 2: go down. You take a look at what is actually 124 00:06:50,960 --> 00:06:54,560 Speaker 2: causing inflations, it's out of control government spending. Under that 125 00:06:54,920 --> 00:06:58,320 Speaker 2: the Green New Steel Bill that the Biden administration put through, 126 00:06:58,560 --> 00:07:02,000 Speaker 2: they called it the Inflation Reduction Act, but it was 127 00:07:02,080 --> 00:07:05,360 Speaker 2: just more or less more spending as far as green 128 00:07:05,400 --> 00:07:08,280 Speaker 2: new steel scams that were out there. 129 00:07:08,480 --> 00:07:10,000 Speaker 3: And so that did nothing. 130 00:07:10,040 --> 00:07:12,680 Speaker 2: Plus it pumped more money into the economy in the 131 00:07:12,760 --> 00:07:15,800 Speaker 2: terms of stimulus checks, where we were getting back on 132 00:07:15,840 --> 00:07:18,560 Speaker 2: our feet, people were getting back to work, people were 133 00:07:18,600 --> 00:07:21,560 Speaker 2: opening up their businesses, their shops, their factories, and so 134 00:07:21,600 --> 00:07:23,440 Speaker 2: on coming out of the pandemic. 135 00:07:23,720 --> 00:07:24,240 Speaker 3: And then that. 136 00:07:24,280 --> 00:07:27,920 Speaker 2: Pushed back the ability of employers being able to hire 137 00:07:27,960 --> 00:07:30,880 Speaker 2: people because people were looking at from the standpoint that, well, 138 00:07:30,920 --> 00:07:34,200 Speaker 2: I'm making more money because I'm collecting not only state unemployment, 139 00:07:34,240 --> 00:07:36,600 Speaker 2: but I'm getting this stimulus check. If I go back 140 00:07:36,640 --> 00:07:39,080 Speaker 2: to work, I'm losing money, so I'm as well just 141 00:07:39,080 --> 00:07:42,320 Speaker 2: sit at home and do nothing. So that caused a 142 00:07:42,360 --> 00:07:44,800 Speaker 2: delay in terms of things getting back on their feet. 143 00:07:44,880 --> 00:07:48,200 Speaker 2: We started having supply chain issues as a result of that. 144 00:07:48,480 --> 00:07:51,040 Speaker 2: You had problems going into the grocery store and any 145 00:07:51,120 --> 00:07:55,280 Speaker 2: most retail establishments and trying to get help, or at 146 00:07:55,560 --> 00:07:58,440 Speaker 2: restaurants and stuff to wait time in terms of getting 147 00:07:58,440 --> 00:08:01,000 Speaker 2: stuff to the table because they were heading to having 148 00:08:01,080 --> 00:08:04,200 Speaker 2: to hire brand new staff people that had never cooked 149 00:08:04,200 --> 00:08:06,840 Speaker 2: before in some of these restaurants. So it was a 150 00:08:06,880 --> 00:08:10,640 Speaker 2: mess created. And again, as I talk about the group 151 00:08:10,720 --> 00:08:13,520 Speaker 2: that messed this all up. The people that threw up 152 00:08:13,560 --> 00:08:17,760 Speaker 2: on the floor led allowed an invasion of our country 153 00:08:18,160 --> 00:08:22,400 Speaker 2: between ten to twenty million people, and we're supposed to 154 00:08:22,480 --> 00:08:26,040 Speaker 2: absorb that in this country, not knowing who they're vetted, 155 00:08:26,320 --> 00:08:30,640 Speaker 2: not knowing what their healthcare is, whether they're vaccinated, or 156 00:08:30,680 --> 00:08:34,000 Speaker 2: anything about that. We knew nothing about this, and that 157 00:08:34,200 --> 00:08:36,800 Speaker 2: in order to try to clean up this meth mess. 158 00:08:36,960 --> 00:08:39,400 Speaker 2: The people that then vomited on the floor are now 159 00:08:39,440 --> 00:08:40,760 Speaker 2: telling us how to clean it up. 160 00:08:41,040 --> 00:08:42,080 Speaker 3: I am tired of it. 161 00:08:42,320 --> 00:08:45,160 Speaker 2: But looking at the producer price Index, everybody was talking 162 00:08:45,160 --> 00:08:48,080 Speaker 2: about this on Friday that, oh, producer price indicts the 163 00:08:48,120 --> 00:08:51,600 Speaker 2: biggest gain in five months, and everybody was talking about, oh, well, 164 00:08:51,720 --> 00:08:55,120 Speaker 2: apparently inflation is back, and you know everything we know. 165 00:08:55,800 --> 00:08:58,680 Speaker 2: Donald Trump was saying that we have killed inflation. Inflation 166 00:08:58,880 --> 00:09:01,600 Speaker 2: is dead. The price aren't going up. See he's lying 167 00:09:01,600 --> 00:09:04,520 Speaker 2: to us once again. And this is not happening, and 168 00:09:04,640 --> 00:09:07,280 Speaker 2: the economy is not as strong. And the spoon fed 169 00:09:07,280 --> 00:09:10,439 Speaker 2: regurgitators in the mainstream media, as spoon fed regurgitators in 170 00:09:10,480 --> 00:09:12,720 Speaker 2: the main street and media, will do. They will take 171 00:09:12,760 --> 00:09:15,400 Speaker 2: the talking points of the left wing because they are 172 00:09:15,480 --> 00:09:18,840 Speaker 2: left wing themselves and just regurgitate it to us and 173 00:09:18,880 --> 00:09:21,079 Speaker 2: tell us all this, but that's not the truth. 174 00:09:21,160 --> 00:09:22,800 Speaker 3: Let's get into the numbers coming up. 175 00:09:22,960 --> 00:09:27,040 Speaker 2: I'm Kevin Gordon, America's truck in Network, seven hundred WLW. 176 00:09:28,040 --> 00:09:31,120 Speaker 1: I do this is the briefing record on America's drugging 177 00:09:31,200 --> 00:09:33,600 Speaker 1: Network on seven hundred WLW. 178 00:09:34,360 --> 00:09:37,880 Speaker 4: Whether permitting, Nascaris schedule to twenty twenty six Cookout Clash 179 00:09:37,920 --> 00:09:40,600 Speaker 4: for Sunday night at Bowmen Gray Stadium. The field will 180 00:09:40,640 --> 00:09:43,480 Speaker 4: be split into three practice groups. There will be four 181 00:09:43,520 --> 00:09:47,280 Speaker 4: heat races of twenty five laps each. The top five 182 00:09:47,360 --> 00:09:50,040 Speaker 4: from each heat race will advance through to the clash. 183 00:09:50,320 --> 00:09:53,160 Speaker 4: There will be a last chance qualifier race of seventy 184 00:09:53,160 --> 00:09:55,839 Speaker 4: five laps, and then the main event will feature twenty 185 00:09:55,840 --> 00:09:58,959 Speaker 4: three drivers competing for two hundred laps, with only green 186 00:09:59,000 --> 00:10:02,760 Speaker 4: flag laps count. The defending champion is Chase Elliott. The 187 00:10:02,840 --> 00:10:06,040 Speaker 4: NHR has announced that to twenty twenty seven seasonal honor 188 00:10:06,080 --> 00:10:09,600 Speaker 4: the sports winning a start legendary sixteen time Funny Car 189 00:10:09,720 --> 00:10:12,920 Speaker 4: champion John Force with a year long fifty years of 190 00:10:13,000 --> 00:10:16,880 Speaker 4: forced celebration at each stop on the NHR Drag Racing 191 00:10:17,000 --> 00:10:20,439 Speaker 4: Series Tour, and warmer weather is ahead. It's one hundred 192 00:10:20,520 --> 00:10:24,000 Speaker 4: days till the Indianapolis five hundred I need. 193 00:10:24,080 --> 00:10:27,200 Speaker 1: This is the racing repard on America's drug a Network 194 00:10:27,360 --> 00:10:29,120 Speaker 1: on seven hundred WLW. 195 00:10:29,880 --> 00:10:34,120 Speaker 4: Have a great weekend, seg Dennison a t N. 196 00:10:34,679 --> 00:10:37,600 Speaker 5: You'll use the radio in your car more than anything 197 00:10:37,640 --> 00:10:39,199 Speaker 5: else when buying. 198 00:10:38,960 --> 00:10:42,640 Speaker 2: A new I'm Kevin Moore in America's Truck at Network 199 00:10:42,760 --> 00:10:46,480 Speaker 2: seven hundred WLW. Let's take a look at these producer 200 00:10:46,480 --> 00:10:48,400 Speaker 2: price indecks and let's get behind the numbers. 201 00:10:48,480 --> 00:10:50,520 Speaker 3: Let's look under the hoods, so to speak. 202 00:10:50,600 --> 00:10:53,520 Speaker 2: On this producer price in decks increase by the most 203 00:10:53,559 --> 00:10:56,960 Speaker 2: in five months in December, amid some pass through, some 204 00:10:57,240 --> 00:11:00,840 Speaker 2: pass through, some import terariffs, suggesting in inflation could pick 205 00:11:00,920 --> 00:11:03,360 Speaker 2: up in the months ahead and allow the Federal Reserve 206 00:11:03,440 --> 00:11:05,320 Speaker 2: to keep interest rates steady. 207 00:11:05,160 --> 00:11:06,040 Speaker 3: For a while. 208 00:11:06,480 --> 00:11:10,760 Speaker 2: Well, let's wait until May when whoever is confirmed, and 209 00:11:10,800 --> 00:11:14,520 Speaker 2: hopefully it's that Kevin Warsh is installed as the FED 210 00:11:14,640 --> 00:11:18,160 Speaker 2: chair because all of his credentials, everybody's talking very highly 211 00:11:18,200 --> 00:11:21,760 Speaker 2: of him. That's the person that Donald Trump has nominated 212 00:11:21,960 --> 00:11:25,240 Speaker 2: to replace lyon Jerry Powell at the Fed. And again 213 00:11:25,720 --> 00:11:27,800 Speaker 2: talk about this, I mean this is the first paragraph 214 00:11:28,120 --> 00:11:31,800 Speaker 2: and then the actual truth comes out about halfway through 215 00:11:31,840 --> 00:11:35,000 Speaker 2: the story. The larger than expected Rison Producer Price Index 216 00:11:35,120 --> 00:11:37,760 Speaker 2: last month, reported by the Labor Department on Friday, was 217 00:11:38,480 --> 00:11:42,240 Speaker 2: driven by a surge in services, mostly trade services, which 218 00:11:42,320 --> 00:11:46,119 Speaker 2: measure changes in margin received by old salers and retailers. 219 00:11:46,360 --> 00:11:48,920 Speaker 2: There were also strong increases in the price of hotel 220 00:11:49,160 --> 00:11:52,400 Speaker 2: and motel rooms, as well as airline fees. Well, I 221 00:11:52,679 --> 00:11:55,080 Speaker 2: misspoke there. It was not halfway through. It was actually 222 00:11:55,120 --> 00:11:58,880 Speaker 2: at the bottom of this one paragraph. But goods prices 223 00:11:59,120 --> 00:12:03,080 Speaker 2: were on changed. Now the goods prices would be items 224 00:12:03,120 --> 00:12:06,080 Speaker 2: that are subject to tariffs, things that come into the 225 00:12:06,160 --> 00:12:09,520 Speaker 2: United States that were bought from other countries and brought 226 00:12:09,559 --> 00:12:14,840 Speaker 2: into this country. The goods area was unchanged. The PPI 227 00:12:15,000 --> 00:12:18,120 Speaker 2: on our final jump of point five percent last month, 228 00:12:18,360 --> 00:12:22,640 Speaker 2: the biggest in July after unrevised point two percent November. 229 00:12:23,240 --> 00:12:26,880 Speaker 2: In the twelve month through December, the PPI increased three 230 00:12:26,960 --> 00:12:30,480 Speaker 2: percent after rising by the same margins in November. The 231 00:12:30,480 --> 00:12:33,880 Speaker 2: PPI advanced three percent in twenty twenty five. Now this 232 00:12:33,920 --> 00:12:36,640 Speaker 2: is at the bottom of the page, after rising three 233 00:12:36,720 --> 00:12:41,040 Speaker 2: point five percent in twenty twenty four. Now that was 234 00:12:41,040 --> 00:12:44,480 Speaker 2: the last year of the Biden administration, So just based 235 00:12:44,520 --> 00:12:48,080 Speaker 2: on that a three point five percent increase in twenty 236 00:12:48,120 --> 00:12:53,800 Speaker 2: twenty four and a three percent rise in twenty twenty five. That, 237 00:12:53,880 --> 00:12:57,400 Speaker 2: my friends, is a fifteen percent decrease in the rate 238 00:12:57,520 --> 00:13:00,720 Speaker 2: of inflation. If they want the rate of inflation down 239 00:13:00,760 --> 00:13:04,240 Speaker 2: around two percent, well we're getting there, because it's certainly 240 00:13:04,280 --> 00:13:06,920 Speaker 2: not the three point five percent that it was in 241 00:13:06,960 --> 00:13:10,200 Speaker 2: the final year of the Biden administration. And so all 242 00:13:10,240 --> 00:13:14,760 Speaker 2: of these do gooders, all these people in Washington, all 243 00:13:14,760 --> 00:13:17,680 Speaker 2: these Democrats that are expecting a magic wand to be 244 00:13:17,800 --> 00:13:21,080 Speaker 2: waived and that prices all of a sudden go down, Well, 245 00:13:21,440 --> 00:13:24,560 Speaker 2: that doesn't happen that way. And maybe it was an 246 00:13:25,000 --> 00:13:29,960 Speaker 2: over promise, if you will, or too much bragging, I 247 00:13:30,000 --> 00:13:33,480 Speaker 2: guess at the start of the Trump administration. But even 248 00:13:33,559 --> 00:13:37,120 Speaker 2: though in his discussion talked about bringing the prices down, 249 00:13:37,520 --> 00:13:42,160 Speaker 2: and they have. If you are paying attention and know 250 00:13:42,200 --> 00:13:46,080 Speaker 2: what's going on, BLS is now caught up. Well, it 251 00:13:46,240 --> 00:13:50,160 Speaker 2: was caught up before the next Schumer shut down or 252 00:13:50,200 --> 00:13:55,160 Speaker 2: the Keem Jeffrey shutdown or whoever is up up to 253 00:13:55,240 --> 00:13:57,600 Speaker 2: bat right now. BLS is now caught up on the 254 00:13:57,640 --> 00:14:01,520 Speaker 2: PPI Consumer Price Index releases and we that were delayed 255 00:14:01,520 --> 00:14:04,000 Speaker 2: by the forty three day Schumer shutdown. Well, they call 256 00:14:04,080 --> 00:14:06,280 Speaker 2: it the shutdown of the federal government. I call it 257 00:14:06,320 --> 00:14:10,040 Speaker 2: the Schumer shutdown. US Senate Republicans and Democrats were on 258 00:14:10,040 --> 00:14:14,720 Speaker 2: Friday racing to avoid another shutdown. All right, This at 259 00:14:14,760 --> 00:14:17,160 Speaker 2: the bottom of the page is where they actually start 260 00:14:17,240 --> 00:14:21,880 Speaker 2: explaining what is causing this three percent increase. A point 261 00:14:22,240 --> 00:14:26,280 Speaker 2: seven percent increase in services accounted for the rise in 262 00:14:26,360 --> 00:14:30,000 Speaker 2: PPI last month. Those were driven by a one point 263 00:14:30,080 --> 00:14:35,200 Speaker 2: seven percent jump on margins for final demand trade services, 264 00:14:35,400 --> 00:14:38,320 Speaker 2: which made up two thirds of the increase. Businesses have 265 00:14:38,400 --> 00:14:43,360 Speaker 2: been absorbing some mostly all, of President Donald trump sweeping 266 00:14:43,400 --> 00:14:49,440 Speaker 2: import teriffs preventing a sharp increase in inflation. Now they 267 00:14:49,480 --> 00:14:52,240 Speaker 2: get into this, and what is interesting is listening again. 268 00:14:52,280 --> 00:14:54,640 Speaker 2: This is on the second page of this particular story. 269 00:14:54,880 --> 00:14:58,400 Speaker 2: As you print it out, ben ayers senior economists at 270 00:14:58,480 --> 00:15:03,720 Speaker 2: nationwide tariff impact continue to flow through producer costs unevenly. 271 00:15:03,920 --> 00:15:06,480 Speaker 3: In December. As a broad. 272 00:15:06,400 --> 00:15:11,560 Speaker 2: Level, costs associated with teriffs remained muted. At a broad level, 273 00:15:11,720 --> 00:15:17,240 Speaker 2: costs associated with terriffs remained muted. Now, why he's talking 274 00:15:17,240 --> 00:15:20,560 Speaker 2: about that that's still passing through when the cost itself 275 00:15:20,640 --> 00:15:23,960 Speaker 2: is actually muted. I don't know, but localized efforts have 276 00:15:24,040 --> 00:15:28,560 Speaker 2: been pronounced. Trade services spiked in December, likely from producers 277 00:15:28,560 --> 00:15:32,480 Speaker 2: looking to recoup some of the losses caused by higher 278 00:15:32,520 --> 00:15:37,680 Speaker 2: production costs over twenty twenty five. The higher production costs 279 00:15:37,680 --> 00:15:40,800 Speaker 2: that they had been absorbing. In order to try to 280 00:15:40,880 --> 00:15:44,120 Speaker 2: recoup some of that, they are increasing that in other 281 00:15:44,280 --> 00:15:46,800 Speaker 2: areas and blaming it on terraffs. 282 00:15:47,720 --> 00:15:49,040 Speaker 3: Portfolio Now listen to this. 283 00:15:50,160 --> 00:15:54,560 Speaker 2: Portfolio management fees increased two percent after gaining one point 284 00:15:54,640 --> 00:15:58,800 Speaker 2: four percent. Now, when you're talking about services, let's clarify 285 00:15:58,880 --> 00:16:02,280 Speaker 2: what the service is sect There is service sectors. Costs 286 00:16:02,320 --> 00:16:09,840 Speaker 2: primarily consists of labor intensive expenses including employee wages, benefits, training, 287 00:16:10,120 --> 00:16:15,600 Speaker 2: and specialized skills required to deliver intangible services. Key components 288 00:16:15,600 --> 00:16:22,400 Speaker 2: include direct costs specific client projects and indirect overhead like technology, rent, utilities. 289 00:16:22,720 --> 00:16:25,040 Speaker 2: Common costing methods for these and they go into how 290 00:16:25,040 --> 00:16:30,000 Speaker 2: that's done. But the primary driver here is actually wages, 291 00:16:30,560 --> 00:16:34,960 Speaker 2: benefits and bonuses, et cetera. This has and none of 292 00:16:35,000 --> 00:16:37,960 Speaker 2: that has anything to do with teriffs if and again 293 00:16:38,400 --> 00:16:41,360 Speaker 2: I am not criticizing as I've talked about in the past. 294 00:16:41,400 --> 00:16:44,000 Speaker 2: We've covered this over the last couple of weeks talking 295 00:16:44,040 --> 00:16:46,840 Speaker 2: about where are these increases coming. If you go to 296 00:16:46,920 --> 00:16:51,880 Speaker 2: the various trade and the various strikes that were the 297 00:16:51,960 --> 00:16:55,560 Speaker 2: various contracts, the various number of people that have gotten 298 00:16:55,560 --> 00:16:59,600 Speaker 2: pay raises and hefty pay raises of ten percent over 299 00:16:59,680 --> 00:17:03,040 Speaker 2: a six year period of time, that is not chump change. 300 00:17:03,200 --> 00:17:06,280 Speaker 2: That's got to be reflected somewhere. And rather than being 301 00:17:06,400 --> 00:17:11,520 Speaker 2: upfront and say we're leveling the playing field because of 302 00:17:12,000 --> 00:17:15,760 Speaker 2: out of the out of control inflation during the Biden years, 303 00:17:16,000 --> 00:17:19,520 Speaker 2: where prices were going up four or five six, to 304 00:17:19,560 --> 00:17:22,399 Speaker 2: the point of in June of twenty twenty two, in 305 00:17:22,480 --> 00:17:26,680 Speaker 2: one month went up nine percent. That people that had 306 00:17:26,680 --> 00:17:29,400 Speaker 2: not gotten pay raises, they were behind the eight ball 307 00:17:29,600 --> 00:17:32,480 Speaker 2: by two hundred, by as much as five thousand dollars 308 00:17:32,560 --> 00:17:35,520 Speaker 2: a year because of the inflation factor, So they were 309 00:17:35,600 --> 00:17:38,199 Speaker 2: running behind. In order to get that back on a 310 00:17:38,600 --> 00:17:41,080 Speaker 2: level playing field, a lot of these trade unions and 311 00:17:41,359 --> 00:17:43,679 Speaker 2: people that were looking for you know, companies that were 312 00:17:43,720 --> 00:17:47,040 Speaker 2: looking to keep their employees started raising the prices or 313 00:17:47,760 --> 00:17:50,480 Speaker 2: raising the wages and salaries of the people that worked 314 00:17:50,480 --> 00:17:52,800 Speaker 2: for them. Well, that's got to be reflected in the 315 00:17:52,840 --> 00:17:54,600 Speaker 2: stuff that they sell, the stuff. 316 00:17:54,359 --> 00:17:56,320 Speaker 3: That their output. 317 00:17:56,640 --> 00:17:59,760 Speaker 2: Because if that you know, they can't absorb that cost 318 00:17:59,840 --> 00:18:03,160 Speaker 2: themselves and lose money, so they have to pass that through. 319 00:18:03,400 --> 00:18:06,199 Speaker 2: So rather than being upfront with the American people and 320 00:18:06,240 --> 00:18:08,879 Speaker 2: saying we have to increase because of the out of 321 00:18:08,920 --> 00:18:13,080 Speaker 2: control inflation during the Biden years, we're allowing our employees 322 00:18:13,119 --> 00:18:14,840 Speaker 2: to catch up and try to get a little bit 323 00:18:14,840 --> 00:18:19,119 Speaker 2: of a head because of those rising prices that is 324 00:18:19,160 --> 00:18:22,680 Speaker 2: putting them further and further behind and costing them money 325 00:18:22,680 --> 00:18:25,639 Speaker 2: on a regular yearly basis that we are going to 326 00:18:25,800 --> 00:18:28,879 Speaker 2: leave level that playing field, and in order to do that, 327 00:18:28,920 --> 00:18:31,919 Speaker 2: we've got to raise price, We've got to raise our salaries, 328 00:18:32,200 --> 00:18:34,919 Speaker 2: and that is the driving factor behind a lot of 329 00:18:34,960 --> 00:18:38,720 Speaker 2: what we're seeing in terms of this inflation. Again, direct 330 00:18:38,720 --> 00:18:43,720 Speaker 2: costs directly tried to the services common and also in 331 00:18:43,760 --> 00:18:51,880 Speaker 2: there included common often hidden expenses includes specialized software, data storage, 332 00:18:51,920 --> 00:18:55,760 Speaker 2: and compliance costs. Now, let's not over let's not gloss 333 00:18:55,760 --> 00:18:59,600 Speaker 2: over compliance costs. Compliance costs is a result of the 334 00:18:59,640 --> 00:19:03,560 Speaker 2: out of control government regulations that are there during the 335 00:19:03,560 --> 00:19:07,199 Speaker 2: Biden administration that in order to comply with this, you 336 00:19:07,320 --> 00:19:09,840 Speaker 2: need people to look at the different things that are 337 00:19:09,840 --> 00:19:13,040 Speaker 2: going on and making sure that you're complying with these things. 338 00:19:13,200 --> 00:19:16,280 Speaker 2: So it's somebody that's actually having the babysit, so to speak, 339 00:19:16,520 --> 00:19:19,119 Speaker 2: of the business in terms of you know, well, you know, 340 00:19:19,119 --> 00:19:22,000 Speaker 2: are we crossing this eye and dotting this tea over here, 341 00:19:23,920 --> 00:19:27,119 Speaker 2: dotting this I and crossing this te along the way 342 00:19:27,440 --> 00:19:29,639 Speaker 2: so that we don't get major fines and stuff from 343 00:19:29,680 --> 00:19:32,560 Speaker 2: the federal government. So you've got to have people in 344 00:19:32,600 --> 00:19:35,520 Speaker 2: that position. If you have less regulation, then you have 345 00:19:35,640 --> 00:19:38,680 Speaker 2: less people that are having to control, having to oversee 346 00:19:38,680 --> 00:19:42,160 Speaker 2: that stuff, and just things being more on an even keel. Again, 347 00:19:43,600 --> 00:19:47,360 Speaker 2: and they talk about in here the producer of the 348 00:19:47,440 --> 00:19:52,880 Speaker 2: impacts from tarifs have flown through portfolio management fees. Now, 349 00:19:52,920 --> 00:19:56,760 Speaker 2: that's management fees from stockbrokers. And of course, with seeing 350 00:19:56,840 --> 00:19:59,399 Speaker 2: the stock market going out, well, not out of control, 351 00:19:59,400 --> 00:20:04,720 Speaker 2: but going up on a high trajectory, setting records, setting 352 00:20:04,760 --> 00:20:08,160 Speaker 2: all time records, not just weekly, daily, monthly, but all 353 00:20:08,200 --> 00:20:10,920 Speaker 2: time records in the history of the stock market, people 354 00:20:11,000 --> 00:20:13,760 Speaker 2: are jumping into that and saying, you know what, I 355 00:20:13,840 --> 00:20:16,720 Speaker 2: want to take part of that. I want to ride 356 00:20:16,760 --> 00:20:19,080 Speaker 2: that wave, so to speak, and I want to jump 357 00:20:19,119 --> 00:20:23,000 Speaker 2: in there. It's not the actual percentage, it's not the 358 00:20:23,600 --> 00:20:26,800 Speaker 2: fees of these portfolios that have gone up. It's just 359 00:20:26,840 --> 00:20:29,720 Speaker 2: that there's so many more people in there that these 360 00:20:29,760 --> 00:20:33,040 Speaker 2: portfolio management fees are going up because of the total 361 00:20:33,119 --> 00:20:34,280 Speaker 2: number of people that are in there. 362 00:20:34,359 --> 00:20:35,720 Speaker 3: We'll pick some of this up coming up. 363 00:20:35,760 --> 00:20:40,960 Speaker 2: I'm Kevin Gordon America Struck a Network seven hundred WLW. 364 00:20:40,840 --> 00:20:47,800 Speaker 6: News Traffic and Weather News Radio seven hundred WLW Cincinnati. 365 00:20:48,400 --> 00:20:51,240 Speaker 7: We could be looking at the most expensive governor's race 366 00:20:51,280 --> 00:20:54,840 Speaker 7: in Ohio's history. Well, if you're twelve thirty, reports Iley 367 00:20:54,880 --> 00:20:58,440 Speaker 7: Mawan Breaking now tens of millions of dollars already spent 368 00:20:58,520 --> 00:21:02,000 Speaker 7: from candidates looking to replace he's current Republican Governor Mike DeWine. 369 00:21:02,440 --> 00:21:06,520 Speaker 7: Cincinnatian and Republican front runner by Ak Ramaswami reportedly has 370 00:21:06,600 --> 00:21:09,240 Speaker 7: raised close to twenty million dollars in the first part 371 00:21:09,240 --> 00:21:12,880 Speaker 7: of twenty twenty five. Ramaswami's nine point eight million dollars 372 00:21:13,000 --> 00:21:16,000 Speaker 7: raised was ninety four percent from individuals, and now the 373 00:21:16,080 --> 00:21:19,520 Speaker 7: nine point eight million fifty two percent from Ohioans for 374 00:21:19,760 --> 00:21:23,080 Speaker 7: Doctor Amy Acton the Democratic candidate, she's raised five point 375 00:21:23,080 --> 00:21:27,200 Speaker 7: three million dollars, but that's overwhelmingly from Ohioans, eighty three 376 00:21:27,240 --> 00:21:30,920 Speaker 7: percent of that to be exact election day is November third. 377 00:21:31,359 --> 00:21:34,560 Speaker 6: Now the Ladies forecast from the Train Heating and Cooling 378 00:21:34,560 --> 00:21:38,000 Speaker 6: Weather Center on news radio seven hundred wl W. 379 00:21:38,359 --> 00:21:40,679 Speaker 8: Well the way to our Tuesday daybreak. We'll see some 380 00:21:40,760 --> 00:21:44,679 Speaker 8: white snow developed during our morning commute a Loowa twenty five. 381 00:21:45,119 --> 00:21:48,120 Speaker 8: Most of the snow develops during midday, and we see 382 00:21:48,119 --> 00:21:51,120 Speaker 8: one to three inches by the afternoon commute, a high 383 00:21:51,119 --> 00:21:53,800 Speaker 8: of thirty three. At night, We're back to clouds in 384 00:21:53,880 --> 00:21:56,919 Speaker 8: a low down to fifteen From your severe weather station, 385 00:21:57,320 --> 00:22:02,040 Speaker 8: I'm nine first Warning Chief Meteorologist Steve Rawley. News Radio 386 00:22:02,200 --> 00:22:04,160 Speaker 8: seven hundred WLW. 387 00:22:04,359 --> 00:22:05,200 Speaker 3: Radar is clear. 388 00:22:05,359 --> 00:22:08,920 Speaker 7: It's thirty degrees and already schools have closed or delayed 389 00:22:08,920 --> 00:22:12,320 Speaker 7: for the day. That's over. On seven hundred WLW dot com. 390 00:22:12,480 --> 00:22:16,160 Speaker 7: Choose news and closings from our dropdown menu. A Highland 391 00:22:16,160 --> 00:22:20,520 Speaker 7: Heights council member and attorney facing sexual abuse crimes, Jesse Hawkinberry, 392 00:22:20,560 --> 00:22:24,400 Speaker 7: was arrested Sunday after HHPD executed a search warrant. They 393 00:22:24,400 --> 00:22:28,199 Speaker 7: began investigating him January twenty first. Highland Heights Police have 394 00:22:28,280 --> 00:22:30,520 Speaker 7: not shared what led to the charge of third degree 395 00:22:30,560 --> 00:22:33,560 Speaker 7: sexual abuse. Hawkinburry is out of the Campbell County jail 396 00:22:33,640 --> 00:22:36,800 Speaker 7: and remains on City Council. A unanimous decision by the 397 00:22:36,800 --> 00:22:40,040 Speaker 7: full board is the only way to remove them. Your 398 00:22:40,080 --> 00:22:42,720 Speaker 7: next update is at one o'clock with breaking news anytime. 399 00:22:43,040 --> 00:22:45,960 Speaker 7: I'm Ley mawin News Radio seven hundred WLW. 400 00:22:46,119 --> 00:22:48,000 Speaker 3: I heard Radio in NBC Sports. 401 00:22:48,000 --> 00:22:50,080 Speaker 9: Bring you two Guys five Ranks. 402 00:22:50,119 --> 00:22:53,720 Speaker 3: Shoo Guys five Ranks. We're your hosts. I'm Matt Rogers. 403 00:22:53,760 --> 00:22:54,640 Speaker 3: I'm Bowen Yang. 404 00:22:54,600 --> 00:22:57,400 Speaker 9: One E Central podcast for the twenty twenty six Winter 405 00:22:57,480 --> 00:23:01,320 Speaker 9: Olympics in Italy Milan, Courtina. They are actually making those 406 00:23:01,480 --> 00:23:04,800 Speaker 9: huge mistake of sending us there from the most expansive 407 00:23:04,880 --> 00:23:08,560 Speaker 9: Winter Olympics ever. Follow two Guys five Ranks and start 408 00:23:08,600 --> 00:23:11,439 Speaker 9: listening on the free iHeart Radio app. Today listen to 409 00:23:11,480 --> 00:23:14,640 Speaker 9: the two Guys Five Rings podcast on America's number one 410 00:23:14,680 --> 00:23:17,080 Speaker 9: podcast network, iHeart. 411 00:23:17,040 --> 00:23:18,359 Speaker 3: Hey, Cincinnati. 412 00:23:22,680 --> 00:23:25,040 Speaker 5: Here's your trucking forecast for the Try State and the 413 00:23:25,040 --> 00:23:28,040 Speaker 5: rest of the country and the tries sit overnight, mostly cloudy, 414 00:23:28,119 --> 00:23:30,280 Speaker 5: not as cold, a low down to twenty five. We'll 415 00:23:30,280 --> 00:23:33,359 Speaker 5: see snow Tuesday, a high of thirty four, accumulation anywhere 416 00:23:33,400 --> 00:23:36,000 Speaker 5: from one to three inches. Some areas could possibly see 417 00:23:36,040 --> 00:23:38,080 Speaker 5: more on which we other advisory and effect throughout the 418 00:23:38,119 --> 00:23:41,120 Speaker 5: day from seven am to ten pm, mostly Sunnay Wednesday, 419 00:23:41,359 --> 00:23:44,280 Speaker 5: highs in the mid twenties. Nationally, Florida and parts of 420 00:23:44,320 --> 00:23:47,560 Speaker 5: the Southeast continuing to see cold temperatures through Tuesday before 421 00:23:47,600 --> 00:23:50,120 Speaker 5: milder conditions move in. Parts of the mid Atlantic will 422 00:23:50,119 --> 00:23:52,879 Speaker 5: see light, wintery precipitation by midweek, while the Southeast will 423 00:23:52,920 --> 00:23:56,560 Speaker 5: see rain and thunderstorms. Clipper systems bringing snow to parts 424 00:23:56,560 --> 00:23:59,119 Speaker 5: of the northern plains and helping to produce lake effects 425 00:23:59,160 --> 00:24:00,720 Speaker 5: snow in the Elakes region. 426 00:24:02,520 --> 00:24:06,719 Speaker 2: Seven hundred WLW. I'm Kevin Gordon. This is america'struck A Network. 427 00:24:06,960 --> 00:24:10,200 Speaker 2: America'struct A Network supports a mission res across America. 428 00:24:10,520 --> 00:24:13,320 Speaker 3: You can hear us every truck and Tuesday. 429 00:24:13,080 --> 00:24:16,679 Speaker 2: At five am and ten am Eastern on Rees Across 430 00:24:16,720 --> 00:24:20,879 Speaker 2: America Radio, available on the iHeartRadio app. Search the word 431 00:24:21,000 --> 00:24:24,159 Speaker 2: REEFS for Rees across America Radio. And thank you to 432 00:24:24,200 --> 00:24:27,800 Speaker 2: all our truckers who's supporting the mission of Rees across America. Now, 433 00:24:27,840 --> 00:24:30,480 Speaker 2: if you're looking that up on the iHeartRadio app, search 434 00:24:30,520 --> 00:24:37,280 Speaker 2: the word reas. That's wr EAHS for Reese across America. 435 00:24:37,560 --> 00:24:40,240 Speaker 2: Getting back to this producer price index and some of 436 00:24:40,280 --> 00:24:43,320 Speaker 2: the stuff that we're being talked about again, talking about 437 00:24:43,320 --> 00:24:45,720 Speaker 2: what's the components of this and where it's going up 438 00:24:45,800 --> 00:24:49,680 Speaker 2: and why it is going up. Portfolio management fees again, 439 00:24:49,720 --> 00:24:53,000 Speaker 2: as we explained in the previous segment, how more people 440 00:24:53,080 --> 00:24:56,000 Speaker 2: are looking at the stock market now and more people 441 00:24:56,040 --> 00:24:58,560 Speaker 2: are jumping in. So if you've got more people jumping 442 00:24:58,600 --> 00:25:02,640 Speaker 2: in at the same cost per transaction or whatever, when 443 00:25:02,680 --> 00:25:04,800 Speaker 2: you have the volume go up, of course those fees 444 00:25:04,800 --> 00:25:06,960 Speaker 2: are going to go up in total. But it's not 445 00:25:07,200 --> 00:25:10,000 Speaker 2: the act, you know, it's not a The fees aren't 446 00:25:10,040 --> 00:25:12,800 Speaker 2: going up. It's the volume of fees that are driving 447 00:25:12,840 --> 00:25:15,200 Speaker 2: that up because so many more people are jumping in. 448 00:25:15,600 --> 00:25:20,040 Speaker 2: Portfolio management fees increase two percent after gaining one point 449 00:25:20,080 --> 00:25:24,720 Speaker 2: four percent. Airline fares stored two point nine percent, while 450 00:25:24,760 --> 00:25:30,159 Speaker 2: wholesale prices of hotel and motel rooms serge seven point 451 00:25:30,600 --> 00:25:34,840 Speaker 2: three percent. So hotel and motel, where are tariff in 452 00:25:34,920 --> 00:25:39,320 Speaker 2: terms of hotel and motel services, it's the employee costs 453 00:25:39,640 --> 00:25:43,760 Speaker 2: increasing the salaries of the people, the housekeeping people, the 454 00:25:43,800 --> 00:25:46,399 Speaker 2: people that service the thing, the janitors, the people in 455 00:25:46,440 --> 00:25:47,560 Speaker 2: the restaurants and so on. 456 00:25:48,000 --> 00:25:49,520 Speaker 3: Giving them pay increases. 457 00:25:49,760 --> 00:25:53,640 Speaker 2: That is increasing the cost to those hotels, and because 458 00:25:53,880 --> 00:25:58,639 Speaker 2: people are out going to hotels, restaurants, traveling, the economy 459 00:25:58,680 --> 00:26:00,919 Speaker 2: is good and people are getting out and spending some 460 00:26:01,040 --> 00:26:03,760 Speaker 2: money and so on, those prices are going up because 461 00:26:03,840 --> 00:26:08,159 Speaker 2: the demand is there. Seven point three percent increase in 462 00:26:08,560 --> 00:26:13,200 Speaker 2: motel and hotel rooms, these categories are among the components 463 00:26:13,200 --> 00:26:16,680 Speaker 2: that go into the calculation the personal consumption expenditure. And 464 00:26:16,800 --> 00:26:18,879 Speaker 2: they talk about that because that number is going to 465 00:26:18,880 --> 00:26:21,760 Speaker 2: be coming out later on in the month. They're predicting 466 00:26:21,960 --> 00:26:24,760 Speaker 2: what that's going to be in the economists estimate for December, 467 00:26:24,800 --> 00:26:27,000 Speaker 2: and they're talking about those numbers. I'm not going to 468 00:26:27,040 --> 00:26:28,879 Speaker 2: go into it because I'm going to wait till the 469 00:26:28,920 --> 00:26:30,760 Speaker 2: numbers come out. I don't think it's going to be 470 00:26:30,960 --> 00:26:33,600 Speaker 2: the way they look at it again, because as I've 471 00:26:33,600 --> 00:26:36,439 Speaker 2: talked about in terms of economists are concerned, let me 472 00:26:36,560 --> 00:26:40,240 Speaker 2: remind you economists isn't An economist is an expert who 473 00:26:40,320 --> 00:26:44,679 Speaker 2: will know tomorrow why the things he predicted yesterday didn't 474 00:26:44,720 --> 00:26:48,240 Speaker 2: happen today. So all of the stuff that they're projecting, 475 00:26:48,440 --> 00:26:52,520 Speaker 2: or they're the stuff that they're expecting that they're predicting 476 00:26:53,280 --> 00:26:58,000 Speaker 2: when it doesn't come to fruition, then afterwards they'll explain 477 00:26:58,280 --> 00:27:00,320 Speaker 2: why the numbers were off, and it will have nothing 478 00:27:00,359 --> 00:27:02,240 Speaker 2: to do with their estimates. That just happen to do 479 00:27:02,320 --> 00:27:05,760 Speaker 2: with other things that they didn't possibly foresee. So we 480 00:27:05,800 --> 00:27:09,679 Speaker 2: want to talk about that producer goods were unchanged. The 481 00:27:09,720 --> 00:27:14,639 Speaker 2: goods prices were unchanged in December. After increasing zero point 482 00:27:14,680 --> 00:27:19,600 Speaker 2: eight percent November, energy prices dropped one point four percent 483 00:27:19,680 --> 00:27:23,760 Speaker 2: after rebounding three point seven in November. Again, when you 484 00:27:23,800 --> 00:27:27,160 Speaker 2: look at fluctuations in terms of prices, what was going 485 00:27:27,200 --> 00:27:30,879 Speaker 2: on in November? Were there an increase in travel, Was 486 00:27:30,880 --> 00:27:33,920 Speaker 2: there an increase in demand? Was there problems over in 487 00:27:33,960 --> 00:27:37,160 Speaker 2: the Middle East? Were there geopolitical problems that were going 488 00:27:37,200 --> 00:27:41,120 Speaker 2: to an effect? Was there problems in Venezuela? Were there 489 00:27:41,119 --> 00:27:46,240 Speaker 2: problems with the individual black market oil that was going 490 00:27:46,280 --> 00:27:48,520 Speaker 2: out there and the sanctions that were being put on 491 00:27:48,640 --> 00:27:52,480 Speaker 2: Russia and Venezuela. All that stuff goes into play there. 492 00:27:52,600 --> 00:27:56,520 Speaker 2: But again, for energy, prices were down one point seven percent. 493 00:27:56,880 --> 00:28:00,720 Speaker 2: They were held down by lower gasoline prices. Food prices 494 00:28:00,760 --> 00:28:06,920 Speaker 2: fell point three percent amid a twenty point four percent 495 00:28:07,280 --> 00:28:12,680 Speaker 2: plunge in the cost of fresh and dried vegetables. Let 496 00:28:12,760 --> 00:28:19,000 Speaker 2: me repeat that food prices fell point three percent amid 497 00:28:19,119 --> 00:28:23,159 Speaker 2: a twenty point four percent plunge in the cost of 498 00:28:23,320 --> 00:28:27,840 Speaker 2: fresh and dry vegetables, which likely reflected the rolling back 499 00:28:27,880 --> 00:28:31,120 Speaker 2: to some of the tariffs from Trump's policies. Again, when 500 00:28:31,160 --> 00:28:35,920 Speaker 2: we got more favorable trade negotiations with those countries they 501 00:28:36,160 --> 00:28:40,280 Speaker 2: started well, they reduced their tariffs, so we reciprocated and 502 00:28:40,400 --> 00:28:45,360 Speaker 2: lowered ours. But again a twenty point four percent reduction 503 00:28:45,680 --> 00:28:48,760 Speaker 2: in those things that were imported. So when you put 504 00:28:48,920 --> 00:28:54,440 Speaker 2: the magnifying glass on this number, it's certainly not what 505 00:28:54,560 --> 00:28:57,920 Speaker 2: it appears. And of course, the people of the spoon 506 00:28:57,960 --> 00:29:01,040 Speaker 2: fed regurgien States, and to a certain large extent, the 507 00:29:01,080 --> 00:29:03,640 Speaker 2: folks on Fox, they don't explain this. If you go 508 00:29:03,640 --> 00:29:06,400 Speaker 2: over to Fox Business, they'll explain it. But when you 509 00:29:06,440 --> 00:29:09,520 Speaker 2: go to their actual the Fox News, which I listened 510 00:29:09,560 --> 00:29:12,440 Speaker 2: to on a regular basis, they're not talking about these things. 511 00:29:12,440 --> 00:29:16,000 Speaker 2: And I wish that somebody at that table went on 512 00:29:16,040 --> 00:29:19,120 Speaker 2: these roundtable things. Whether it's The Five or whether it's 513 00:29:19,560 --> 00:29:22,640 Speaker 2: whatever show was on, I don't care, you know, whenever 514 00:29:22,680 --> 00:29:25,200 Speaker 2: there's some sort of a panel discussion, I wish they 515 00:29:25,240 --> 00:29:27,040 Speaker 2: would put somebody on there that knew what the hell 516 00:29:27,040 --> 00:29:29,240 Speaker 2: they were talking about. In terms of some of these 517 00:29:29,280 --> 00:29:33,040 Speaker 2: prices again because it's not in the goods section as 518 00:29:33,120 --> 00:29:35,160 Speaker 2: what they were talking about in those reports. 519 00:29:35,400 --> 00:29:37,640 Speaker 3: It is in the labor section of that. 520 00:29:38,000 --> 00:29:42,680 Speaker 2: So again we got numbers yesterday SMP Global US Manufacturing 521 00:29:43,000 --> 00:29:49,080 Speaker 2: Purchasers Managed Purchasing Managers Index output growth. Let me see hello, 522 00:29:49,520 --> 00:29:55,040 Speaker 2: output growth joint best since May of twenty twenty two, 523 00:29:55,480 --> 00:29:58,240 Speaker 2: but only limited rise in new orders. There were a 524 00:29:58,600 --> 00:30:03,479 Speaker 2: increase in new orders, but the output growth was the 525 00:30:03,600 --> 00:30:07,240 Speaker 2: highest since May of twenty twenty two. Taking into some 526 00:30:07,360 --> 00:30:10,920 Speaker 2: of those numbers, manufacturing PMI was at fifty two point 527 00:30:10,960 --> 00:30:15,880 Speaker 2: six percent. Manufacturing PMI registered fifty two point six percent 528 00:30:16,000 --> 00:30:22,560 Speaker 2: in January, a four point seven percent increase compared to 529 00:30:22,600 --> 00:30:26,400 Speaker 2: the seasonally adjusted in reading a forty seven point nine 530 00:30:26,480 --> 00:30:32,640 Speaker 2: percent in December. The overall economy continued in expansion, continued 531 00:30:32,880 --> 00:30:40,400 Speaker 2: in expansion for the fifteenth month for the fifteenth month consecutive. 532 00:30:40,960 --> 00:30:45,120 Speaker 2: Above the forty seven point five percent the over over 533 00:30:45,200 --> 00:30:47,680 Speaker 2: a period of time generally indicates. 534 00:30:47,200 --> 00:30:49,240 Speaker 3: An expansion of the overall economy. 535 00:30:49,800 --> 00:30:53,640 Speaker 2: Again, anything above forty seven point five is considered an 536 00:30:53,640 --> 00:30:58,240 Speaker 2: expansion territory. That number was forty seven point nine in December, 537 00:30:58,560 --> 00:31:03,640 Speaker 2: jumped up to fifty two point six percent in in December, 538 00:31:04,560 --> 00:31:08,200 Speaker 2: I'm sorry, in the end of December, going into actually 539 00:31:08,320 --> 00:31:10,960 Speaker 2: the month of January, because January is over by now. 540 00:31:11,280 --> 00:31:14,080 Speaker 2: New orders index expanded for the first time since August 541 00:31:14,280 --> 00:31:17,720 Speaker 2: with a reading of fifty seven point one percent, up 542 00:31:18,000 --> 00:31:22,880 Speaker 2: nine point seven percent new orders. And again, all of 543 00:31:22,880 --> 00:31:25,880 Speaker 2: this is important because if the new orders are there, 544 00:31:26,160 --> 00:31:28,920 Speaker 2: people are buying stuff, people are continuing to buy stuff. 545 00:31:29,000 --> 00:31:31,680 Speaker 2: They're going to have to have those things taken from 546 00:31:31,800 --> 00:31:35,760 Speaker 2: the manufacturer or the wholesaler to the individual stores, and 547 00:31:35,800 --> 00:31:38,600 Speaker 2: the raw products that goes into that are going to 548 00:31:38,640 --> 00:31:41,280 Speaker 2: have to be transported, and we all know how that's 549 00:31:41,320 --> 00:31:43,320 Speaker 2: going to be transported, and it's going to be transported 550 00:31:43,360 --> 00:31:46,320 Speaker 2: by truck. And as those volumes go up, there'll be 551 00:31:46,360 --> 00:31:49,120 Speaker 2: more tonnage going up, and of course the freight rates 552 00:31:49,120 --> 00:31:51,360 Speaker 2: will go up and we'll get out of this freight 553 00:31:51,400 --> 00:31:53,760 Speaker 2: recession that we've been in for over a three year 554 00:31:53,840 --> 00:31:57,360 Speaker 2: period of time now. So it's important to factor in 555 00:31:57,600 --> 00:32:00,560 Speaker 2: and to pay attention to these manufacturing numbers to see 556 00:32:00,560 --> 00:32:04,040 Speaker 2: how they're going. They're going in the right direction, expanding 557 00:32:04,080 --> 00:32:06,640 Speaker 2: for the first time or actually over a fifteen month 558 00:32:06,680 --> 00:32:10,480 Speaker 2: period of time, which is a good sign. And all 559 00:32:10,760 --> 00:32:14,600 Speaker 2: very good positive signs of what's going on. Also, numbers 560 00:32:14,640 --> 00:32:21,640 Speaker 2: came out last week. Third quarter productivity growth unrevised. US 561 00:32:21,760 --> 00:32:25,000 Speaker 2: worker productivity grew at its fastest pace in two years 562 00:32:25,040 --> 00:32:28,160 Speaker 2: in the third quarter, the government confirmed on Thursday of 563 00:32:28,240 --> 00:32:32,080 Speaker 2: last week, likely fueled by an artificial intelligence spending boom. 564 00:32:32,240 --> 00:32:36,920 Speaker 2: Non farm productivity, which measures hourly output per worker, increased 565 00:32:36,920 --> 00:32:42,320 Speaker 2: that it unrevised four point nine percent annualized rate. According 566 00:32:42,360 --> 00:32:44,880 Speaker 2: to Labor Department, that was the fastest since the third 567 00:32:44,960 --> 00:32:48,760 Speaker 2: quarter of twenty twenty three. Now, what was going on 568 00:32:48,800 --> 00:32:52,160 Speaker 2: in twenty twenty three, all of the catchup from the 569 00:32:52,320 --> 00:32:56,360 Speaker 2: supply chain issues the business is shut down in twenty twenty, 570 00:32:56,560 --> 00:33:00,800 Speaker 2: supply issues, supply chain issues in twenty twenty one, normalization 571 00:33:00,880 --> 00:33:03,160 Speaker 2: a little bit in twenty twenty two, and then things 572 00:33:03,200 --> 00:33:06,560 Speaker 2: going gangbusters for a time there in twenty twenty three, 573 00:33:06,800 --> 00:33:10,840 Speaker 2: again the highest since a third quarter of twenty twenty three. 574 00:33:11,120 --> 00:33:14,840 Speaker 2: Economists pulled by Reuters that expected third quarter productivity growth 575 00:33:14,960 --> 00:33:19,120 Speaker 2: would be unrevised. Productivity growth in the April June quarter 576 00:33:19,600 --> 00:33:23,320 Speaker 2: was also unrevised at four point one percent. The report 577 00:33:23,440 --> 00:33:25,959 Speaker 2: was delayed by the forty three day government shutdown. As 578 00:33:26,000 --> 00:33:30,680 Speaker 2: I call this humor shutdown. Let's see going into here, 579 00:33:30,760 --> 00:33:34,440 Speaker 2: the number strong productivity helps to explain what economists are 580 00:33:34,480 --> 00:33:41,479 Speaker 2: calling a jobless economic expansion. Though the economy grew at 581 00:33:41,480 --> 00:33:44,880 Speaker 2: a robust four point four percent rate in the third quarter, 582 00:33:45,280 --> 00:33:48,440 Speaker 2: only five hundred and fifty five hundred and eighty four 583 00:33:48,480 --> 00:33:51,920 Speaker 2: thousand jobs were at in twenty twenty five, well below 584 00:33:52,000 --> 00:33:55,880 Speaker 2: the two million created in twenty twenty four. Now, what 585 00:33:55,920 --> 00:34:00,360 Speaker 2: they're not mentioning in here is does that include those 586 00:34:00,440 --> 00:34:06,640 Speaker 2: nine nine hundred and eleven thousand jobs that mysteriously disappeared 587 00:34:06,960 --> 00:34:10,800 Speaker 2: because they had overestimated the number of people the jobs 588 00:34:10,880 --> 00:34:14,480 Speaker 2: created each month of twenty twenty four, and then when 589 00:34:14,480 --> 00:34:17,360 Speaker 2: those numbers were revised at the first part of twenty 590 00:34:17,440 --> 00:34:20,319 Speaker 2: twenty five and showed that that number was down by 591 00:34:20,480 --> 00:34:23,800 Speaker 2: nine hundred and eleven, is that two million jobs created 592 00:34:24,200 --> 00:34:28,120 Speaker 2: part of the nine hundred and eleven was that part 593 00:34:28,160 --> 00:34:32,719 Speaker 2: of the two million that were just vanished. They're not 594 00:34:32,760 --> 00:34:36,560 Speaker 2: getting into that here. But what we did see during 595 00:34:36,600 --> 00:34:40,279 Speaker 2: the Biden years right after the pandemic is that they 596 00:34:40,320 --> 00:34:45,040 Speaker 2: weren't creating jobs. They were basically backfilling jobs that had 597 00:34:45,080 --> 00:34:49,320 Speaker 2: been lost during the pandemic. So again, third quarter productivity 598 00:34:49,400 --> 00:34:52,920 Speaker 2: up is a very very good thing coming up. We'll 599 00:34:52,920 --> 00:34:55,520 Speaker 2: get into a little bit more mischief here. I'm Kevin Gordon. 600 00:34:55,520 --> 00:35:02,080 Speaker 2: America struck In Network seven hundred WLW. 601 00:35:00,440 --> 00:35:06,600 Speaker 1: News Radio seven hundred WLW and iHeartRadio Station Guarantee Human 602 00:35:07,040 --> 00:35:09,280 Speaker 1: seven hundred WLW, HI. 603 00:35:09,440 --> 00:35:13,480 Speaker 4: Heart Radio Drifting Sportsbook, the number one sportsbook for live 604 00:35:13,520 --> 00:35:16,719 Speaker 4: betting is making every moment of Super Bowl sixty count. 605 00:35:16,680 --> 00:35:19,800 Speaker 2: American struck a Network seven hundred WLW. 606 00:35:19,840 --> 00:35:20,840 Speaker 3: I'm Kevin Gordon. 607 00:35:20,960 --> 00:35:25,880 Speaker 2: I'm talking about that productivity level being way up, manufacturing expanding. 608 00:35:26,160 --> 00:35:27,759 Speaker 2: That is a very good thing. And by the way, 609 00:35:27,760 --> 00:35:29,480 Speaker 2: if you miss any part of that and miss any 610 00:35:29,480 --> 00:35:32,080 Speaker 2: of our shows, hit up that iHeartRadio app brought to 611 00:35:32,080 --> 00:35:33,920 Speaker 2: you by our friends at Rush Truck Centers. 612 00:35:34,120 --> 00:35:34,319 Speaker 3: Now. 613 00:35:34,360 --> 00:35:37,080 Speaker 2: Also in the tail end of last week, it's saying 614 00:35:37,120 --> 00:35:41,520 Speaker 2: that Amazon Big headlines Amazon cutting sixteen thousand corporate jobs 615 00:35:41,520 --> 00:35:44,560 Speaker 2: in its latest round of layoffs. They talk about this 616 00:35:44,960 --> 00:35:48,640 Speaker 2: and it sounds bad on the surface, but the Amazon 617 00:35:48,800 --> 00:35:51,560 Speaker 2: in a statement about sixteen thousand corporate jobs in the 618 00:35:51,600 --> 00:35:54,399 Speaker 2: second round of mass layoffs for the economic the e 619 00:35:54,440 --> 00:35:57,600 Speaker 2: commerce company in three months. Tech Giant has said it 620 00:35:57,640 --> 00:36:02,400 Speaker 2: plans to use generative art official intelligence to replace corporate workers. 621 00:36:02,760 --> 00:36:06,440 Speaker 2: And it has also been reducing a workforce that swelled 622 00:36:07,120 --> 00:36:12,160 Speaker 2: during the pandemic. So they apparently over hired during the 623 00:36:12,239 --> 00:36:15,040 Speaker 2: pandemic in order to cover some of the things and 624 00:36:15,160 --> 00:36:18,399 Speaker 2: move things along, and now that they don't need though them, 625 00:36:18,520 --> 00:36:20,960 Speaker 2: they are laying the off. The company did not say 626 00:36:21,120 --> 00:36:24,319 Speaker 2: what business units would be impacted or where the job 627 00:36:24,400 --> 00:36:27,520 Speaker 2: cuts would occur. Now, I want to remind you of 628 00:36:27,560 --> 00:36:30,040 Speaker 2: a story we had a few weeks ago where they 629 00:36:30,080 --> 00:36:33,320 Speaker 2: said that, you know, according to this one firm that 630 00:36:33,480 --> 00:36:37,840 Speaker 2: tracks the number of announced layoffs, this Challenger Gray and 631 00:36:37,960 --> 00:36:42,920 Speaker 2: Christmas an organization. They are basically an outplacement firm that 632 00:36:43,000 --> 00:36:46,279 Speaker 2: if people at the senior you know, management level or 633 00:36:46,600 --> 00:36:49,400 Speaker 2: some of the white collar workers in the corporate offices, 634 00:36:49,600 --> 00:36:53,239 Speaker 2: when they get laid off, they are their outplacement services 635 00:36:53,480 --> 00:36:55,719 Speaker 2: and they go to these companies and they you know, 636 00:36:55,800 --> 00:36:58,680 Speaker 2: basically it's an employment you know, they basically a job 637 00:36:58,719 --> 00:37:01,719 Speaker 2: fair if you will, for exactatives and they help them 638 00:37:01,760 --> 00:37:05,000 Speaker 2: line up like Indeed, you know, high Powered Indeed or 639 00:37:05,280 --> 00:37:07,680 Speaker 2: some of these ZIP recruiters or something like that. So 640 00:37:08,120 --> 00:37:11,680 Speaker 2: this group tracks the number of layoffs that are announced. 641 00:37:11,960 --> 00:37:14,839 Speaker 2: But what we're seeing and it has been pointed out 642 00:37:15,200 --> 00:37:18,080 Speaker 2: on this program, and you know, again digging into the 643 00:37:18,120 --> 00:37:20,920 Speaker 2: numbers the way we do. They make these announcements. But 644 00:37:20,960 --> 00:37:23,360 Speaker 2: when you look at the initial jobless claims on a 645 00:37:23,400 --> 00:37:27,279 Speaker 2: weekly basis and then the continuing claims, those people that 646 00:37:27,320 --> 00:37:31,160 Speaker 2: are still on unemployment after the first week, and the 647 00:37:31,200 --> 00:37:34,040 Speaker 2: people that fall off of those numbers and whatever, those 648 00:37:34,040 --> 00:37:37,560 Speaker 2: are all fluctuating in a range that for economists is 649 00:37:37,600 --> 00:37:40,520 Speaker 2: fairly comfortable between two hundred and ten thousand and two 650 00:37:40,600 --> 00:37:44,239 Speaker 2: hundred and fifty thousand on a weekly basis. We're not 651 00:37:44,320 --> 00:37:47,120 Speaker 2: seeing any big spikes there, and we have not seen 652 00:37:47,160 --> 00:37:50,640 Speaker 2: any big spikes in the over the last year or so. 653 00:37:50,640 --> 00:37:55,240 Speaker 2: So the question was a couple of weeks ago, about 654 00:37:55,280 --> 00:37:57,880 Speaker 2: three or four weeks ago, what is happening? What is 655 00:37:57,920 --> 00:38:01,560 Speaker 2: the disconnect here? And what they talked about is the 656 00:38:01,640 --> 00:38:06,759 Speaker 2: fact that some of these corporations will announce layoffs and 657 00:38:06,960 --> 00:38:11,120 Speaker 2: massive layoffs, which then boost their stock as far as 658 00:38:11,160 --> 00:38:14,279 Speaker 2: the stockholders are concerned, seemingly that they'll look at that 659 00:38:14,360 --> 00:38:17,239 Speaker 2: and say, wow, this company is really being a good 660 00:38:17,280 --> 00:38:20,160 Speaker 2: steward of our money, and so they are cutting their 661 00:38:20,239 --> 00:38:23,200 Speaker 2: overhead in order to produce more profits, so that our 662 00:38:23,239 --> 00:38:27,479 Speaker 2: stock goes up, when in fact those jobs are either 663 00:38:27,560 --> 00:38:31,680 Speaker 2: reshuffled within the organization moved to different departments, and that 664 00:38:31,719 --> 00:38:34,320 Speaker 2: there are very few of these layoffs that actually happen. 665 00:38:34,560 --> 00:38:37,840 Speaker 2: It'll be interesting to see in here of these sixteen 666 00:38:37,880 --> 00:38:44,000 Speaker 2: thousand announced government jobs or Amazon jobs, because again, latest 667 00:38:44,040 --> 00:38:47,600 Speaker 2: reductions follow around the job cuts in November or October 668 00:38:47,760 --> 00:38:51,040 Speaker 2: when Amazon said it was laying off fourteen thousand workers, 669 00:38:51,280 --> 00:38:54,360 Speaker 2: the company did not say what business units would be 670 00:38:54,400 --> 00:38:59,439 Speaker 2: impacted or where the job cuts would occur. While we're 671 00:38:59,440 --> 00:39:03,880 Speaker 2: making these changes, we are also continuing hiring and investing 672 00:39:03,960 --> 00:39:08,279 Speaker 2: in strategic areas and functions that are critical to our future. Now, 673 00:39:08,320 --> 00:39:13,080 Speaker 2: if they are hiring and investing in strategic areas, again, 674 00:39:13,600 --> 00:39:17,600 Speaker 2: is this a situation where these sixteen people sixteen thousand 675 00:39:17,680 --> 00:39:21,759 Speaker 2: people in certain departments are then going to be reassigned. 676 00:39:21,920 --> 00:39:25,600 Speaker 2: They'll be laid off, so to speak, from those divisions, 677 00:39:25,760 --> 00:39:30,080 Speaker 2: but moved around. This is a very interesting comment in here. 678 00:39:30,400 --> 00:39:34,840 Speaker 2: While we are making these changes, we will continue hiring 679 00:39:35,239 --> 00:39:39,360 Speaker 2: and investing in strategic areas and functions that are critical 680 00:39:39,560 --> 00:39:42,920 Speaker 2: to our future. The layoffs announced in January twenty eighth 681 00:39:43,000 --> 00:39:47,000 Speaker 2: or are biggest since twenty twenty three, when the government 682 00:39:47,000 --> 00:39:51,320 Speaker 2: when the company came out cut twenty seven thousand jobs. Meanwhile, 683 00:39:51,400 --> 00:39:54,080 Speaker 2: Amazon and other big tech companies and retail companies have 684 00:39:54,120 --> 00:39:58,080 Speaker 2: cut thousand jobs to bring spending back online. Following the 685 00:39:58,160 --> 00:40:03,000 Speaker 2: COVID nineteen pandemic, Amazon's workforce doubled as millions stayed home 686 00:40:03,120 --> 00:40:07,680 Speaker 2: and bo and boosted online spending. Well, that spending doesn't 687 00:40:07,719 --> 00:40:10,960 Speaker 2: seem to be fading, and so for them to bring 688 00:40:11,000 --> 00:40:13,080 Speaker 2: these people on and then to lay them off, it's 689 00:40:13,160 --> 00:40:15,319 Speaker 2: kind of interesting because I'll tell you what I don't 690 00:40:15,320 --> 00:40:17,799 Speaker 2: know about you, but I'm drive around my neighborhood and 691 00:40:17,840 --> 00:40:20,840 Speaker 2: I see, just you know, just in our condo complex, 692 00:40:21,080 --> 00:40:24,040 Speaker 2: how many Amazon trucks are coming in and out on 693 00:40:24,080 --> 00:40:26,719 Speaker 2: a daily basis, and the packages that are piling up 694 00:40:26,719 --> 00:40:29,880 Speaker 2: in the door. I'm seeing my neighbors that are buying 695 00:40:29,920 --> 00:40:34,160 Speaker 2: stuff almost on a daily basis, coming coming to the 696 00:40:34,200 --> 00:40:36,640 Speaker 2: building that I had not seen in the past. So 697 00:40:37,320 --> 00:40:40,840 Speaker 2: this spending is continuing. Before we get out of here, 698 00:40:40,920 --> 00:40:44,120 Speaker 2: let's take a look real quick at oil and gas prices, 699 00:40:44,160 --> 00:40:48,359 Speaker 2: because they have been moving considerably over the last couple 700 00:40:48,400 --> 00:40:51,960 Speaker 2: of days, and a lot of good things happening as 701 00:40:52,000 --> 00:40:54,560 Speaker 2: far as the oil sector is concerned. Some of the 702 00:40:54,600 --> 00:40:57,560 Speaker 2: stuff going on as far as geopolitical issues and so on. 703 00:40:57,920 --> 00:41:00,480 Speaker 2: West Texas Center Media crewed currently is the sixty two dollars 704 00:41:00,480 --> 00:41:02,960 Speaker 2: and ten cents a barrel. That is down three dollars 705 00:41:03,040 --> 00:41:06,439 Speaker 2: and eleven cents since it's closed on Friday. Brent Brent 706 00:41:06,520 --> 00:41:09,759 Speaker 2: crude sixty six dollars and twenty six cents, down three 707 00:41:09,800 --> 00:41:12,480 Speaker 2: dollars and six cents a down four point four to 708 00:41:12,560 --> 00:41:15,400 Speaker 2: one percent. West Texas Intermedia I mentioned, I think I 709 00:41:15,480 --> 00:41:18,400 Speaker 2: mentioned is down four point seven seven percent. 710 00:41:18,880 --> 00:41:20,560 Speaker 3: Now what is going on now? 711 00:41:20,800 --> 00:41:25,319 Speaker 2: Interestingly enough, the average national gas liane prices have been 712 00:41:25,320 --> 00:41:30,000 Speaker 2: coming down considerably. Current average across the board nationwide average 713 00:41:30,120 --> 00:41:33,520 Speaker 2: two dollars and eighty eight cents a gallon diesel is 714 00:41:33,680 --> 00:41:36,279 Speaker 2: three dollars and sixty one cents. When you take that 715 00:41:36,360 --> 00:41:39,640 Speaker 2: in comparison to a year ago when gas prices worth 716 00:41:39,680 --> 00:41:42,560 Speaker 2: almost three dollars and ten cents, we are now bound 717 00:41:42,560 --> 00:41:45,200 Speaker 2: twenty three to twenty four cents from just this time 718 00:41:45,320 --> 00:41:48,360 Speaker 2: last year, still getting closer to that mark back in 719 00:41:48,400 --> 00:41:51,840 Speaker 2: twenty twenty, when we are energy independent for the first 720 00:41:51,840 --> 00:41:55,439 Speaker 2: time since nineteen forty nine. Gas prices back then were 721 00:41:55,480 --> 00:41:58,440 Speaker 2: two fifty one, so at two eighty eight, we're heading 722 00:41:58,480 --> 00:42:02,680 Speaker 2: in that direction. Prices again compared to this time last year, 723 00:42:03,560 --> 00:42:06,600 Speaker 2: diesel prices are down only about six cents, but again 724 00:42:07,360 --> 00:42:10,960 Speaker 2: those are coming down. In my neighborhood. It's interesting to 725 00:42:11,000 --> 00:42:14,680 Speaker 2: see what's going on there because this is just in 726 00:42:14,719 --> 00:42:17,960 Speaker 2: my zip code. It's not the entire county that I 727 00:42:18,040 --> 00:42:22,520 Speaker 2: live in. In my neighborhood, gasoline price is two dollars 728 00:42:22,600 --> 00:42:25,280 Speaker 2: and fifty eight cents a gallon. That is down twenty 729 00:42:25,400 --> 00:42:29,319 Speaker 2: cents from just last week. So it's been If you 730 00:42:29,360 --> 00:42:33,000 Speaker 2: go to the different oh the gas apps and so on, 731 00:42:33,040 --> 00:42:34,440 Speaker 2: you can look at the one I go to is 732 00:42:34,480 --> 00:42:36,279 Speaker 2: Triple A. You don't have to go to that one. 733 00:42:36,320 --> 00:42:38,480 Speaker 2: There's plenty of the other ones, but just on a 734 00:42:38,520 --> 00:42:42,560 Speaker 2: consistency basis, I look at Triple A gas prices in 735 00:42:42,600 --> 00:42:45,600 Speaker 2: my neighborhood. Gasoline is going from anywhere from two dollars 736 00:42:45,600 --> 00:42:47,760 Speaker 2: and fifty eight cents a gallon up to two dollars 737 00:42:47,800 --> 00:42:50,520 Speaker 2: and seventy nine cents. So when you got a twenty 738 00:42:50,520 --> 00:42:54,279 Speaker 2: one cent gap between what is being spent or what's 739 00:42:54,320 --> 00:42:57,160 Speaker 2: being charged in one part of your count just your 740 00:42:57,239 --> 00:43:00,279 Speaker 2: zip code, it pays to go to these apps. Sold 741 00:43:00,320 --> 00:43:02,840 Speaker 2: currently is a three dollars and three cents. That's down 742 00:43:02,920 --> 00:43:05,560 Speaker 2: eight cents from last week. Now on the high side, 743 00:43:05,760 --> 00:43:09,680 Speaker 2: diesel in my zip code on the high side is 744 00:43:09,719 --> 00:43:12,439 Speaker 2: the three thirty nine, so there's a thirty six cent 745 00:43:12,520 --> 00:43:15,319 Speaker 2: gap there. And that's why I say I encourage you 746 00:43:15,360 --> 00:43:17,399 Speaker 2: that if you have one of these gas apps, make 747 00:43:17,440 --> 00:43:19,600 Speaker 2: sure you pay attention to it. I got gas over 748 00:43:19,640 --> 00:43:21,840 Speaker 2: the weekend and I was kind of, I'm kind of 749 00:43:21,840 --> 00:43:25,560 Speaker 2: in between two of the gas stations that I normally 750 00:43:25,600 --> 00:43:28,960 Speaker 2: go to, and I went to gas Buddy in particular, 751 00:43:29,360 --> 00:43:32,240 Speaker 2: and I looked at that and the one gas station 752 00:43:32,840 --> 00:43:36,400 Speaker 2: was about twenty eight twenty five cents less than what 753 00:43:36,480 --> 00:43:39,080 Speaker 2: the other gas station was in the same company, so 754 00:43:39,239 --> 00:43:42,440 Speaker 2: I had obviously headed to one was twenty five cents cheaper. 755 00:43:42,960 --> 00:43:43,280 Speaker 3: Oil. 756 00:43:43,640 --> 00:43:46,400 Speaker 2: To explain what's going on, oil falls five percent of 757 00:43:46,440 --> 00:43:51,040 Speaker 2: the US and ran de escalation easing supplier worries, prices 758 00:43:51,080 --> 00:43:55,640 Speaker 2: fall and multi month highs as US Iran tensions ease. 759 00:43:56,040 --> 00:43:59,880 Speaker 2: Trump says Iran is seriously talking with Washington. The dollar 760 00:44:00,120 --> 00:44:03,600 Speaker 2: is a lot stronger. There's been some positive feedback based 761 00:44:03,600 --> 00:44:07,680 Speaker 2: on the appointment or the announcement that Kevin Walsh is 762 00:44:07,719 --> 00:44:11,520 Speaker 2: going to replace your own Powell. That's interesting. Things are 763 00:44:11,560 --> 00:44:14,760 Speaker 2: settling down in the Middle East, and Opak is saying 764 00:44:15,000 --> 00:44:18,120 Speaker 2: that they're going to keep their production levels steady, that 765 00:44:18,160 --> 00:44:21,440 Speaker 2: they're not going to decrease or increase those, which is 766 00:44:21,480 --> 00:44:24,040 Speaker 2: also good for the market. And of course with the 767 00:44:24,080 --> 00:44:29,080 Speaker 2: consumers up and the usage up, those things are going. 768 00:44:29,320 --> 00:44:32,080 Speaker 2: The oil markets are starting to settle out, even though 769 00:44:32,080 --> 00:44:36,000 Speaker 2: they jumped up. The actual price per barrel jumped up 770 00:44:36,120 --> 00:44:40,040 Speaker 2: last week, but gas prices tended to hold even for folks. 771 00:44:40,239 --> 00:44:42,239 Speaker 2: We're up against clock here. Stay tuned for Red Eye 772 00:44:42,320 --> 00:44:45,359 Speaker 2: Radio a top the hour. I'm Kevin Gordon, America's truck 773 00:44:45,360 --> 00:44:48,879 Speaker 2: a Network seven hundred WLW. 774 00:44:49,120 --> 00:44:56,840 Speaker 6: News, Traffic and Weather. News Radio seven hundred WLW Cincinnati. 775 00:44:57,200 --> 00:45:00,160 Speaker 7: And a lot of Our ruling keeps temporary protection for 776 00:45:00,239 --> 00:45:03,560 Speaker 7: Haitian immigrants. With your top of the hour report, I'm 777 00:45:03,640 --> 00:45:05,200 Speaker 7: Lee mawin Breaking Now,