1 00:00:00,040 --> 00:00:03,200 Speaker 1: With iHeartRadio tournament company. Lunch is a three, got it, 2 00:00:03,360 --> 00:00:05,000 Speaker 1: NFL Free Agency. 3 00:00:04,640 --> 00:00:07,680 Speaker 2: Buffalo's got their quarterback, They're running back now they've got 4 00:00:07,720 --> 00:00:08,760 Speaker 2: their number one. 5 00:00:08,600 --> 00:00:11,479 Speaker 1: And the first pitch of the new baseball season, the 6 00:00:13,720 --> 00:00:15,720 Speaker 1: goodness You're one taf away. 7 00:00:15,760 --> 00:00:18,639 Speaker 3: Open the iHeart app and stream your local sports stations. 8 00:00:18,640 --> 00:00:20,920 Speaker 1: That's the latest news on Fox Sports Radio. 9 00:00:21,120 --> 00:00:23,880 Speaker 4: Or dive into the world's biggest sports podcasts. 10 00:00:24,000 --> 00:00:26,760 Speaker 5: Open the free app search sports and listen. 11 00:00:26,840 --> 00:00:36,760 Speaker 6: Now. 12 00:00:37,680 --> 00:00:40,519 Speaker 7: This is America's Truncking Network with Kevin Gordon. 13 00:00:42,320 --> 00:00:45,680 Speaker 6: Welcome aboard, Thanks for tuning in on this Thursday morning. 14 00:00:46,200 --> 00:00:50,080 Speaker 6: We are going to have some fun today. These spoon 15 00:00:50,159 --> 00:00:54,040 Speaker 6: fed regurgis dictators in the mainstream media are well at it, 16 00:00:54,120 --> 00:00:57,400 Speaker 6: and the hypocrisy is just on display. I mean, the 17 00:00:57,800 --> 00:01:01,480 Speaker 6: parade is a mile long. I have never seen a 18 00:01:01,560 --> 00:01:08,440 Speaker 6: situation where the same company, the same media outlet reports 19 00:01:08,560 --> 00:01:11,440 Speaker 6: one thing in one story and a different thing in 20 00:01:11,480 --> 00:01:17,600 Speaker 6: a different story. It is just absolutely beyond imagination. Also 21 00:01:18,040 --> 00:01:21,880 Speaker 6: with the information that we get compared to the backdrop 22 00:01:22,240 --> 00:01:27,360 Speaker 6: of twenty twenty two when Russia invaded Ukraine and the 23 00:01:27,360 --> 00:01:30,280 Speaker 6: things that were said then versus the things that are 24 00:01:30,319 --> 00:01:33,880 Speaker 6: said now. The attitude and the media, the things that 25 00:01:33,920 --> 00:01:36,479 Speaker 6: they are pointing out, the things that they're concerned about, 26 00:01:36,920 --> 00:01:37,319 Speaker 6: is just. 27 00:01:37,400 --> 00:01:39,240 Speaker 1: Completely out of whack. 28 00:01:40,120 --> 00:01:43,720 Speaker 6: Let's start off with yesterday, early in the morning, the 29 00:01:43,720 --> 00:01:45,520 Speaker 6: consumer price index came out. 30 00:01:45,800 --> 00:01:47,960 Speaker 1: Now, mind you, the. 31 00:01:47,680 --> 00:01:51,280 Speaker 6: Federal Reserve keeps talking about they want the if they're 32 00:01:51,280 --> 00:01:54,160 Speaker 6: going to be doing anything with their interestrates, lowering interest rates, etc. 33 00:01:54,720 --> 00:01:57,520 Speaker 6: They want the inflation rate to be around two percent. Right, 34 00:01:58,040 --> 00:02:01,200 Speaker 6: go back to June of twenty two, twenty two, inflation 35 00:02:01,320 --> 00:02:04,360 Speaker 6: got up to nine point one percent. Inflation was at 36 00:02:04,360 --> 00:02:07,960 Speaker 6: three point one three point two percent in September of 37 00:02:08,040 --> 00:02:11,519 Speaker 6: twenty twenty four. But the Federal Reserve decided that, hey, 38 00:02:11,560 --> 00:02:14,079 Speaker 6: you know what, Kamalin needs a boost. We're going to 39 00:02:14,120 --> 00:02:16,920 Speaker 6: lower interest rates by a full half of percentage points 40 00:02:17,040 --> 00:02:20,280 Speaker 6: and hopefully she will push her over the finish line 41 00:02:20,360 --> 00:02:23,600 Speaker 6: and become president. That didn't happen, even though the same 42 00:02:23,680 --> 00:02:25,639 Speaker 6: scenario was there, and I talked about that at the 43 00:02:25,639 --> 00:02:27,639 Speaker 6: beginning of the week in terms of the jobs report, 44 00:02:27,919 --> 00:02:31,160 Speaker 6: where we were at the jobs report back in September 45 00:02:31,160 --> 00:02:34,240 Speaker 6: of twenty twenty four versus where we are today and 46 00:02:34,320 --> 00:02:37,200 Speaker 6: where what the Federal Reserve is talking about, what they're 47 00:02:37,240 --> 00:02:39,679 Speaker 6: leaning towards what they're not leaning towards. So again the 48 00:02:39,760 --> 00:02:43,720 Speaker 6: hypocrisy there with the Federal Reserve led by lion Jerry Powell, 49 00:02:43,760 --> 00:02:46,120 Speaker 6: because he talks about. 50 00:02:45,840 --> 00:02:47,360 Speaker 1: One thing and then does another. 51 00:02:47,760 --> 00:02:51,280 Speaker 6: So, as far as inflation is concerned, inflation came in 52 00:02:51,320 --> 00:02:55,720 Speaker 6: at two point four percent. Two point four percent. That's 53 00:02:55,760 --> 00:02:58,919 Speaker 6: a hell of a lot closer to two percent than 54 00:02:58,960 --> 00:03:03,959 Speaker 6: three percent, pretty much over the entire Biden administration. So 55 00:03:04,080 --> 00:03:06,639 Speaker 6: let's just just's go through this, and here's some of 56 00:03:06,680 --> 00:03:09,359 Speaker 6: the idiocy that is said. As far as the pressing concern, 57 00:03:09,720 --> 00:03:14,160 Speaker 6: inflation remained above policy makers target in February. Now, wouldn't 58 00:03:14,200 --> 00:03:17,400 Speaker 6: it seem to be better that I's remained slightly above 59 00:03:18,680 --> 00:03:23,359 Speaker 6: at If you're shooting for two percent and and you're 60 00:03:23,400 --> 00:03:26,800 Speaker 6: four percent higher than that, you're about one fifth of 61 00:03:26,840 --> 00:03:30,120 Speaker 6: the way there, So you're slightly above. You're not quite there, 62 00:03:30,240 --> 00:03:33,000 Speaker 6: But no, we will just leave it there. Remain above 63 00:03:33,120 --> 00:03:36,280 Speaker 6: policy maker's target in February, largely on the back of 64 00:03:36,400 --> 00:03:39,920 Speaker 6: tariffs that are still working their way through households wallets. 65 00:03:39,920 --> 00:03:44,520 Speaker 6: According to economists, that is b has because it is 66 00:03:44,600 --> 00:03:49,880 Speaker 6: in the next story. You can't make this stuff up. 67 00:03:51,000 --> 00:03:54,080 Speaker 6: In the next story, they talk about how terriffs have 68 00:03:54,200 --> 00:03:55,000 Speaker 6: had no. 69 00:03:54,920 --> 00:03:56,200 Speaker 1: Effect on inflation. 70 00:03:56,920 --> 00:03:59,440 Speaker 6: The consumer price in nex key gauge rose two point 71 00:03:59,440 --> 00:04:02,680 Speaker 6: four percent in February from a year earlier. The Bureau 72 00:04:02,680 --> 00:04:06,040 Speaker 6: of Labor Statistics said on Wednesday, that's unchanged from January. 73 00:04:06,120 --> 00:04:08,880 Speaker 6: The Federal Reserve aims for a low interest and inflation 74 00:04:09,000 --> 00:04:13,680 Speaker 6: rate of two percent. Mark Zandy, a chief economist at Moody's, 75 00:04:14,160 --> 00:04:18,159 Speaker 6: I don't get the sense that inflation is decelerating. It 76 00:04:18,240 --> 00:04:24,520 Speaker 6: feels like it's uncomfortably and persistently high. Really, December twenty 77 00:04:24,560 --> 00:04:27,680 Speaker 6: twenty four before Trump cook office, the last month before, 78 00:04:27,839 --> 00:04:31,600 Speaker 6: you know, because the inauguration was January twenty, so much 79 00:04:31,600 --> 00:04:34,160 Speaker 6: of January we probably should look. Well, we've looked at 80 00:04:34,200 --> 00:04:39,359 Speaker 6: January of twenty twenty five when Trump took office, but 81 00:04:39,440 --> 00:04:42,000 Speaker 6: the last full month that Joe Biden was in office, 82 00:04:42,640 --> 00:04:46,440 Speaker 6: consumer price index was at two point nine percent and the. 83 00:04:46,200 --> 00:04:48,160 Speaker 1: Core was at three point two. 84 00:04:49,120 --> 00:04:52,200 Speaker 6: So with it being at two point four and two 85 00:04:52,200 --> 00:04:56,760 Speaker 6: point five percent core right now, you mean to tell 86 00:04:56,800 --> 00:05:01,760 Speaker 6: me that this genius from Moody's doesn't see a difference 87 00:05:01,880 --> 00:05:07,480 Speaker 6: of let's see five six percent in prices. Is this 88 00:05:07,520 --> 00:05:11,400 Speaker 6: guy so wealthy? This guy has so much money? Got 89 00:05:11,440 --> 00:05:15,360 Speaker 6: a raise that he doesn't even pay attention to what 90 00:05:15,440 --> 00:05:19,440 Speaker 6: costs are I don't get the sense. And inflation is decelerating. 91 00:05:20,200 --> 00:05:23,160 Speaker 6: You go from three percent down to two point four 92 00:05:23,240 --> 00:05:27,600 Speaker 6: percent and you don't notice a difference. Inflation is stubbornly high, 93 00:05:27,720 --> 00:05:31,560 Speaker 6: especially for necessities like such as electricity. All right, so 94 00:05:32,279 --> 00:05:38,240 Speaker 6: where does the electricity rates? Is set by the utility 95 00:05:38,279 --> 00:05:43,480 Speaker 6: companies with the blessing basically of the PUCO Public Utilities Commission, 96 00:05:43,720 --> 00:05:45,680 Speaker 6: and they just rubber stamp if they come through and 97 00:05:45,720 --> 00:05:48,400 Speaker 6: they say, gee, we want an increase, Oh sure, no problem. 98 00:05:48,839 --> 00:05:51,760 Speaker 6: Wonder who's getting paid off on that. Do they look 99 00:05:51,800 --> 00:05:53,920 Speaker 6: at the numbers and say, well, gee, did your cost 100 00:05:54,000 --> 00:05:56,000 Speaker 6: really go up? Or is this just a number that 101 00:05:56,000 --> 00:05:58,400 Speaker 6: they come in ever so often and say, you know what, 102 00:05:58,680 --> 00:06:01,760 Speaker 6: we got a couple percent points increased the last time. 103 00:06:01,960 --> 00:06:04,159 Speaker 6: You know, things were okay, we haven't really noticed anything 104 00:06:04,200 --> 00:06:07,039 Speaker 6: going about. Well wait a minute, we can now give 105 00:06:07,279 --> 00:06:10,000 Speaker 6: more money to our employees and we can spend and 106 00:06:10,040 --> 00:06:12,080 Speaker 6: we can don't have to worry about cost cutting, so 107 00:06:12,200 --> 00:06:16,800 Speaker 6: we'll just go for an increase. Is electricity having to 108 00:06:16,800 --> 00:06:19,280 Speaker 6: do with terrafts or anything along those lines. 109 00:06:21,120 --> 00:06:22,200 Speaker 1: They talk about that. 110 00:06:22,680 --> 00:06:27,240 Speaker 6: Let's see decelerating stubbornly high for electricity, food, and there's 111 00:06:27,240 --> 00:06:29,880 Speaker 6: certain areas of the food that is beyond our control. 112 00:06:30,120 --> 00:06:31,080 Speaker 1: We can't control the. 113 00:06:31,040 --> 00:06:35,159 Speaker 6: Fact that there's drought situations down in South America, which 114 00:06:35,200 --> 00:06:39,039 Speaker 6: is creating an increase in coffee prices. We can't take 115 00:06:39,360 --> 00:06:43,760 Speaker 6: We can't affect the drought situation in the West where 116 00:06:43,800 --> 00:06:47,320 Speaker 6: people where the cattlemen have had to cut their herds 117 00:06:47,360 --> 00:06:49,520 Speaker 6: to the point where they're at the level of nineteen 118 00:06:49,640 --> 00:06:52,760 Speaker 6: fifty levels, and we've had to import be from other countries. 119 00:06:52,960 --> 00:06:56,200 Speaker 6: So is that part of inflation? I mean, is that 120 00:06:56,279 --> 00:06:59,320 Speaker 6: part of the terrafts? Is that part of it? Or 121 00:06:59,400 --> 00:07:04,800 Speaker 6: is it just nature? Medical care? And housing? Housing? What 122 00:07:04,880 --> 00:07:06,920 Speaker 6: is causing the increase in housing? Yes, there are some 123 00:07:06,960 --> 00:07:10,360 Speaker 6: price increases as far as materials are concerned, but let's 124 00:07:10,400 --> 00:07:13,040 Speaker 6: look at the interest rate that it is as far 125 00:07:13,120 --> 00:07:15,320 Speaker 6: as trying to buy a home, and what the interest 126 00:07:15,400 --> 00:07:18,120 Speaker 6: rate would be on the buyers trying to acquire those homes. 127 00:07:18,160 --> 00:07:20,000 Speaker 1: But again, you know, we can't. 128 00:07:20,040 --> 00:07:22,640 Speaker 6: We can't let the facts get in the way of 129 00:07:22,720 --> 00:07:25,280 Speaker 6: a good story. So why don't I I guess I 130 00:07:25,280 --> 00:07:28,080 Speaker 6: should just read the story and ignore all the No, 131 00:07:28,160 --> 00:07:29,960 Speaker 6: I'm not because I'm going to tell the truth on 132 00:07:30,000 --> 00:07:32,320 Speaker 6: this program. And of course this is all before the 133 00:07:32,400 --> 00:07:35,360 Speaker 6: fallout from the events of the Middle East. The latst 134 00:07:35,360 --> 00:07:39,200 Speaker 6: CPI doesn't report, doesn't account for the inflationary impact of 135 00:07:39,280 --> 00:07:42,480 Speaker 6: rising energy price in the aftermath of the US No kidding. 136 00:07:42,800 --> 00:07:45,680 Speaker 6: If you cut something off as of a certain date 137 00:07:45,960 --> 00:07:48,800 Speaker 6: and then something happens after that date, that is going 138 00:07:48,840 --> 00:07:52,040 Speaker 6: to be affected. So let's throw a sentence in here 139 00:07:52,160 --> 00:07:55,520 Speaker 6: that doesn't talk about the good news. Let's talk about 140 00:07:55,520 --> 00:07:58,440 Speaker 6: the potential bad news. Unbelievable. 141 00:08:00,040 --> 00:08:03,560 Speaker 1: Let's see Joe, this guy, this guy is a real treasure. 142 00:08:04,120 --> 00:08:08,640 Speaker 6: Joe Sidel, senior market economists at JP Morgan Private Bank. 143 00:08:09,080 --> 00:08:12,400 Speaker 6: In that sense, CPI report is a bit stale at 144 00:08:12,440 --> 00:08:17,280 Speaker 6: this point. It's not incorporating what is the most macroeconomic 145 00:08:17,400 --> 00:08:21,160 Speaker 6: shock right now. Well, if you want to look at 146 00:08:21,160 --> 00:08:25,520 Speaker 6: what's going, what has happened, and the economic policies up 147 00:08:25,560 --> 00:08:28,119 Speaker 6: to that point, you know, you guys are the ones 148 00:08:28,200 --> 00:08:31,040 Speaker 6: back on Liberation Day on April the second that said 149 00:08:31,080 --> 00:08:33,720 Speaker 6: we're going to have a recession that didn't happen. We're 150 00:08:33,760 --> 00:08:36,720 Speaker 6: going to have out of control inflation which didn't happen. 151 00:08:36,920 --> 00:08:40,120 Speaker 6: We're going to have major layoffs which didn't happen, and 152 00:08:40,600 --> 00:08:43,959 Speaker 6: it's going to send our economy into a tailspin, which 153 00:08:44,040 --> 00:08:47,120 Speaker 6: didn't happen. So now we are supposed to believe that 154 00:08:47,200 --> 00:08:49,600 Speaker 6: you guys want to ignore the good news from this 155 00:08:49,640 --> 00:08:52,720 Speaker 6: particular month, which all the economic policies of the Trump 156 00:08:52,760 --> 00:08:56,760 Speaker 6: administration up to this point, cause this number here, you 157 00:08:56,840 --> 00:08:59,400 Speaker 6: want to talk about what may be in the future. 158 00:08:59,520 --> 00:09:02,400 Speaker 1: Again. Yes, we know that as a result of. 159 00:09:02,280 --> 00:09:04,800 Speaker 6: What's going on with Iran that we've seen these oil 160 00:09:04,840 --> 00:09:08,000 Speaker 6: prices shoot up, but we also know where the prices were. 161 00:09:08,120 --> 00:09:10,400 Speaker 6: We also know where the prices were when the Biden 162 00:09:10,440 --> 00:09:13,520 Speaker 6: administration was in office. We also know where those prices 163 00:09:13,559 --> 00:09:17,080 Speaker 6: were when Trump took office and how low they got. 164 00:09:17,360 --> 00:09:18,040 Speaker 1: While he was. 165 00:09:18,080 --> 00:09:21,040 Speaker 6: In the first year of his presidency, oil prices came 166 00:09:21,080 --> 00:09:24,240 Speaker 6: down a full In some instances, they touched around twenty 167 00:09:24,240 --> 00:09:27,600 Speaker 6: three to twenty four percent from what when he took office. 168 00:09:27,640 --> 00:09:29,360 Speaker 6: So you mean you don't think that he could do 169 00:09:29,400 --> 00:09:32,480 Speaker 6: that again, that we can't get gas prices back down. 170 00:09:32,400 --> 00:09:33,240 Speaker 1: To where they were. 171 00:09:33,480 --> 00:09:36,000 Speaker 6: We were already down about fifty cents from where we 172 00:09:36,000 --> 00:09:38,480 Speaker 6: were when he took office, and because of this little 173 00:09:38,520 --> 00:09:41,079 Speaker 6: bit of a spike now and it's going to be temporary, 174 00:09:41,160 --> 00:09:43,120 Speaker 6: that you are going to suddenly say we don't believe 175 00:09:43,120 --> 00:09:45,120 Speaker 6: that number, and that number is going to stay up 176 00:09:45,160 --> 00:09:45,680 Speaker 6: there forever. 177 00:09:46,440 --> 00:09:47,200 Speaker 1: I swear to God. 178 00:09:47,320 --> 00:09:51,160 Speaker 6: I wonder how these guys even keep a job talking 179 00:09:51,160 --> 00:09:53,640 Speaker 6: about the inflation impact of the war in Iran. 180 00:09:54,040 --> 00:09:55,640 Speaker 1: Okay, what is that? I mean? 181 00:09:55,720 --> 00:09:58,240 Speaker 6: Yeah, you can talk about that. That would be something 182 00:09:58,280 --> 00:10:00,480 Speaker 6: that might be part of another story, But why is 183 00:10:00,520 --> 00:10:03,240 Speaker 6: it part of this story here? You're talking about where 184 00:10:03,240 --> 00:10:06,040 Speaker 6: we were, what these numbers indicated, and how they got there. 185 00:10:06,280 --> 00:10:09,920 Speaker 6: I'm Kevin Gordon, america'struck a Network, seven hundred WLW. 186 00:10:10,880 --> 00:10:14,000 Speaker 7: What need This is the briefing reward on America's Drugging 187 00:10:14,040 --> 00:10:16,359 Speaker 7: Network on seven hundred WLW. 188 00:10:17,240 --> 00:10:20,360 Speaker 2: Justin Algeier will substitute for Alex Bowman this weekend in 189 00:10:20,440 --> 00:10:23,560 Speaker 2: Las Vegas. Bowman will miss the NASCAR Cup Series race 190 00:10:23,600 --> 00:10:27,240 Speaker 2: in Vegas as he continues to recover from vertigo. Connor 191 00:10:27,320 --> 00:10:29,840 Speaker 2: Daily will drive the number twenty three for Dryer and 192 00:10:29,920 --> 00:10:32,720 Speaker 2: Ryan Bowld Racing in May's one hundred and tenth running 193 00:10:32,800 --> 00:10:35,679 Speaker 2: of the Indianapolis five hundred. The Indy Cars run in 194 00:10:35,760 --> 00:10:38,840 Speaker 2: Dallas this weekend and the inaugural Grand Prix of Arlington. 195 00:10:39,120 --> 00:10:42,920 Speaker 2: The circuit runs around the Dallas Cowboys NFL Stadium. Here's 196 00:10:42,960 --> 00:10:43,960 Speaker 2: Alexander ROSSI. 197 00:10:44,320 --> 00:10:47,960 Speaker 8: I can't think of an event that has been as 198 00:10:48,080 --> 00:10:53,000 Speaker 8: highly anticipated as this one in quite some time. I mean, 199 00:10:53,040 --> 00:10:56,720 Speaker 8: obviously DC is exciting for its own reasons, but in 200 00:10:56,800 --> 00:10:58,160 Speaker 8: terms of, you know. 201 00:10:58,400 --> 00:11:00,760 Speaker 4: Been waiting for this one for a couple of years 202 00:11:00,800 --> 00:11:04,960 Speaker 4: and knowing the work that's gone to it from Penske Corp. 203 00:11:05,080 --> 00:11:10,360 Speaker 4: And the series and all involved. It's awesome to get 204 00:11:10,400 --> 00:11:12,079 Speaker 4: back to Dallas and can't wait to go on a 205 00:11:12,120 --> 00:11:14,400 Speaker 4: great show for everyone I love. 206 00:11:14,480 --> 00:11:17,840 Speaker 7: This is the racing report on America's Trucking Network on 207 00:11:18,000 --> 00:11:19,479 Speaker 7: seven hundred WLW. 208 00:11:20,200 --> 00:11:24,080 Speaker 2: Say Dennison reporting for a t N. 209 00:11:24,520 --> 00:11:27,440 Speaker 9: You'll use the radio in your car more than anything 210 00:11:27,480 --> 00:11:29,160 Speaker 9: else when buying a eder. 211 00:11:29,200 --> 00:11:33,400 Speaker 10: At Louisville, Kentucky, experienced the latest tech education and the 212 00:11:33,400 --> 00:11:37,839 Speaker 10: PKY Custom Truck competition. Then feel the ground shake at 213 00:11:37,840 --> 00:11:41,880 Speaker 10: the Mac Trailer Winternationals Championship poll. Top it off with 214 00:11:42,000 --> 00:11:46,240 Speaker 10: a Matt's concert sponsored by Bennett featuring Frank Foster, Mark 215 00:11:46,280 --> 00:11:47,840 Speaker 10: Ware and Long Haul Paul. 216 00:11:48,080 --> 00:11:48,959 Speaker 1: Don't miss out. 217 00:11:49,280 --> 00:11:56,720 Speaker 10: Register now at truckingshow dot com. 218 00:11:56,880 --> 00:12:02,160 Speaker 6: I'm Kevin Gord america'struck a network seven HUNDREDLW going through 219 00:12:02,200 --> 00:12:07,800 Speaker 6: these numbers, and really they should be I understand if 220 00:12:08,200 --> 00:12:11,440 Speaker 6: you know things are going to change, but if you've 221 00:12:11,480 --> 00:12:15,120 Speaker 6: got good news, celebrate the good news and try to 222 00:12:15,200 --> 00:12:18,480 Speaker 6: figure out, well, gee whiz, everything that we'd said up 223 00:12:18,559 --> 00:12:20,960 Speaker 6: to this point where we didn't think this was going 224 00:12:21,040 --> 00:12:24,680 Speaker 6: to happen, and it does happen, we should celebrate the 225 00:12:24,720 --> 00:12:27,560 Speaker 6: fact or talk about the fact that we Maybe they 226 00:12:27,559 --> 00:12:29,599 Speaker 6: should say we were wrong, but they're not going to 227 00:12:29,679 --> 00:12:31,800 Speaker 6: do that. They're going to figure out another way of 228 00:12:31,840 --> 00:12:34,280 Speaker 6: sugarcoating that or covering it up and move on to 229 00:12:34,360 --> 00:12:39,199 Speaker 6: the next thing, because you know, being a journalist, first. 230 00:12:39,000 --> 00:12:40,800 Speaker 1: Of all, I won't even go into that. 231 00:12:40,840 --> 00:12:44,520 Speaker 6: But the bottom line is is that these numbers from 232 00:12:44,520 --> 00:12:47,160 Speaker 6: the Consumer Price Index should be celebrated and should be 233 00:12:47,160 --> 00:12:49,480 Speaker 6: talked about. What happens as a result of the war 234 00:12:49,640 --> 00:12:51,880 Speaker 6: in Iran. We all realize that that's going to be 235 00:12:51,960 --> 00:12:54,839 Speaker 6: a short term situation and they want to try to 236 00:12:54,880 --> 00:12:57,480 Speaker 6: make it into something that it's not. It's unclear now 237 00:12:57,480 --> 00:13:00,319 Speaker 6: how the war will Iran will add to af the 238 00:13:00,400 --> 00:13:01,040 Speaker 6: US economy. 239 00:13:01,080 --> 00:13:03,200 Speaker 1: Well, of course it is. You know what we don't 240 00:13:03,200 --> 00:13:03,600 Speaker 1: even know. 241 00:13:03,960 --> 00:13:05,720 Speaker 6: Let me see if the sky falls and the sun 242 00:13:05,760 --> 00:13:08,640 Speaker 6: stops shining, what that would do to the economy too, 243 00:13:08,920 --> 00:13:10,680 Speaker 6: So why don't we factor that in here? 244 00:13:10,840 --> 00:13:12,360 Speaker 1: And they go through all this sort of stuff. 245 00:13:12,360 --> 00:13:14,680 Speaker 6: They say that average gasoline price is at three dollars 246 00:13:14,720 --> 00:13:17,439 Speaker 6: and fifty cents. They didn't mind when gasoline price was 247 00:13:17,480 --> 00:13:19,720 Speaker 6: at four dollars and fifty cents in all, and actually 248 00:13:19,720 --> 00:13:22,160 Speaker 6: got up to around five dollars a gallon in June 249 00:13:22,160 --> 00:13:27,040 Speaker 6: of twenty twenty two after the Russia invaded Ukraine. They 250 00:13:27,040 --> 00:13:29,520 Speaker 6: didn't seem to be too concerned about that. But now, 251 00:13:29,559 --> 00:13:31,720 Speaker 6: all of a sudden, it's up to about three fifty, 252 00:13:31,760 --> 00:13:34,040 Speaker 6: which was what it was pretty much during the Biden years. 253 00:13:34,160 --> 00:13:36,240 Speaker 6: All of a sudden, now we're concerned about it. They 254 00:13:36,240 --> 00:13:38,200 Speaker 6: weren't concerned about it when it was a Biden, but 255 00:13:38,320 --> 00:13:40,560 Speaker 6: now that it's Trump, now we've got to be concerned 256 00:13:40,559 --> 00:13:41,079 Speaker 6: about it. 257 00:13:41,160 --> 00:13:43,240 Speaker 1: Stephen Brown, let me see. 258 00:13:43,480 --> 00:13:46,679 Speaker 6: Sidell, there's one more quote from him in this particular area, 259 00:13:46,920 --> 00:13:50,280 Speaker 6: and want to refer to sidel. That is John Sidell 260 00:13:50,480 --> 00:13:53,959 Speaker 6: or Joe Sidell, senior market economists at JP Morgan Chase. 261 00:13:55,440 --> 00:13:55,880 Speaker 1: Let's see. 262 00:13:55,920 --> 00:13:58,640 Speaker 6: Ultimate impact depends on how long the conflict drags on. 263 00:13:58,800 --> 00:14:01,600 Speaker 6: And to what extent this disrupts the energy supplies from 264 00:14:01,640 --> 00:14:06,920 Speaker 6: thedle East. Brilliant comment there, Thank you, Captain obvious. Stephen 265 00:14:07,000 --> 00:14:10,520 Speaker 6: Brown and Thomas Ryan North, American economists at Capitol Economics, 266 00:14:10,520 --> 00:14:13,839 Speaker 6: said most likely scenario is a severe but short lived 267 00:14:13,840 --> 00:14:16,960 Speaker 6: conflict that lasts just a few weeks and sees the 268 00:14:17,080 --> 00:14:19,960 Speaker 6: US oil prices gradually drop back down to sixty dollars 269 00:14:20,000 --> 00:14:22,000 Speaker 6: a barrel by the end of twenty twenty six. 270 00:14:22,360 --> 00:14:23,760 Speaker 1: I would go a little bit further than that. 271 00:14:23,800 --> 00:14:26,000 Speaker 6: I'd say those oil prices we'll be back down around 272 00:14:26,000 --> 00:14:29,760 Speaker 6: sixty dollars a barrel. Once Iran is neutralized and there's 273 00:14:29,800 --> 00:14:32,520 Speaker 6: no longer any types in the Straight of Horror moves, 274 00:14:32,640 --> 00:14:36,000 Speaker 6: those numbers will come down within Well we were in March. 275 00:14:36,400 --> 00:14:38,720 Speaker 1: I'm going to say that probably by June. I don't 276 00:14:38,760 --> 00:14:39,040 Speaker 1: see this. 277 00:14:39,520 --> 00:14:41,600 Speaker 6: I don't know how they could have the capacity to 278 00:14:41,680 --> 00:14:44,240 Speaker 6: continue to wage war when they're running out of missiles, 279 00:14:44,240 --> 00:14:47,040 Speaker 6: when they're runing out of boats. Even they were saying that, Okay, 280 00:14:47,200 --> 00:14:49,800 Speaker 6: we're now going to not only attack the ships and 281 00:14:50,120 --> 00:14:52,880 Speaker 6: straight of Horror moves, we're going to start laying mines. Well, 282 00:14:52,920 --> 00:14:56,360 Speaker 6: that's a great offensive strategy. You announce what you're doing. 283 00:14:56,560 --> 00:14:59,600 Speaker 6: So then the American and the Israeli forces take a 284 00:14:59,640 --> 00:15:02,480 Speaker 6: look at where these mind ships, these boats that would 285 00:15:02,480 --> 00:15:04,800 Speaker 6: be laying these mines are and they take them all out. 286 00:15:05,760 --> 00:15:06,720 Speaker 1: Just amazing. 287 00:15:06,840 --> 00:15:09,640 Speaker 6: But you know, don't give credit where credits due, don't 288 00:15:09,640 --> 00:15:12,360 Speaker 6: say the good things, don't talk about the positives. Let's 289 00:15:12,400 --> 00:15:14,960 Speaker 6: focus all on the negatives. One of the things they 290 00:15:15,000 --> 00:15:17,200 Speaker 6: talked about in here in this guy what a name, 291 00:15:17,560 --> 00:15:21,440 Speaker 6: Zippy Duval, president of the American Farm Bureau of Federation, 292 00:15:21,840 --> 00:15:24,520 Speaker 6: disruptions to fertilize the supply, because a lot of the 293 00:15:24,520 --> 00:15:29,240 Speaker 6: fertilizer supply, not only the twenty percent of oil comes 294 00:15:29,280 --> 00:15:31,240 Speaker 6: through the Strait of Horror Moves or through the Red Sea, 295 00:15:31,600 --> 00:15:34,640 Speaker 6: but also the fertilizer, the materials that are made for 296 00:15:34,680 --> 00:15:39,840 Speaker 6: the fertilizer, all the different fertilizer components are on ships 297 00:15:39,840 --> 00:15:42,280 Speaker 6: that come through that area as well. So it's not 298 00:15:42,320 --> 00:15:46,160 Speaker 6: only just a transit for oil supplies, but a lot 299 00:15:46,280 --> 00:15:50,000 Speaker 6: of goods, manufactured, apparel, all kinds of stuff comes through 300 00:15:50,040 --> 00:15:53,320 Speaker 6: that Red Sea on through the Strait of Horror Moves 301 00:15:53,360 --> 00:15:57,120 Speaker 6: in the Gulf of Aiden, and then onto the Indian Ocean. 302 00:15:57,280 --> 00:16:03,080 Speaker 6: So again they're talking about the possibility of some disruptions there. Now, 303 00:16:03,800 --> 00:16:08,040 Speaker 6: this is where Joe Sidell just blows me away. Senior 304 00:16:08,080 --> 00:16:12,760 Speaker 6: market economists at JP Morgan chase terrafs were primarily the 305 00:16:12,840 --> 00:16:16,240 Speaker 6: inflation factor before the war, and Iran to terras that 306 00:16:16,280 --> 00:16:23,000 Speaker 6: Trump imposed were the main factor underpinning elevated inflation. Economists said, really, okay, 307 00:16:23,720 --> 00:16:27,960 Speaker 6: it's primary tariffs in our view, said John Sidell. Joe Sidell, rather, 308 00:16:28,280 --> 00:16:31,240 Speaker 6: senior market analyst at JP Morgan. Without the tariff shock 309 00:16:31,280 --> 00:16:33,600 Speaker 6: of twenty twenty five, the US inflation rate would likely 310 00:16:33,720 --> 00:16:36,160 Speaker 6: be back to target, he said. And then they talk 311 00:16:36,200 --> 00:16:39,400 Speaker 6: about Supreme Court shutting down the or shooting down the 312 00:16:39,440 --> 00:16:44,560 Speaker 6: Trump administration's the method and the law under which they 313 00:16:44,640 --> 00:16:48,000 Speaker 6: operated in order to lower the terraffs. But then as 314 00:16:48,000 --> 00:16:50,200 Speaker 6: a result of that then they said, okay, well we'll 315 00:16:50,200 --> 00:16:53,480 Speaker 6: apply this law here for example, And they're talking about 316 00:16:53,520 --> 00:16:57,400 Speaker 6: here that before the court ruling, the average effect of 317 00:16:57,440 --> 00:17:00,800 Speaker 6: tariff rate was fourteen point three percent, the highest since 318 00:17:00,880 --> 00:17:04,280 Speaker 6: nineteen thirty nine. According to the Ale University Budget Lab, 319 00:17:04,520 --> 00:17:08,000 Speaker 6: the current tariff rate after Trump administration's latest maneuver is 320 00:17:08,080 --> 00:17:11,320 Speaker 6: ten point five percent, the highest since nineteen forty three. 321 00:17:11,600 --> 00:17:13,960 Speaker 6: So let's stop there for a moment. If the tariffs 322 00:17:14,000 --> 00:17:16,520 Speaker 6: were at fourteen point three percent, and they were the 323 00:17:16,600 --> 00:17:20,320 Speaker 6: leaning driver of inflation, why isn't our inflation rate around 324 00:17:20,359 --> 00:17:23,480 Speaker 6: fourteen point three Because, as I've said in the past, 325 00:17:23,480 --> 00:17:26,600 Speaker 6: when you look at teriffs in certain areas, those items 326 00:17:26,640 --> 00:17:29,040 Speaker 6: will go up, but there are certain areas where tariffs 327 00:17:29,080 --> 00:17:32,119 Speaker 6: will drive prices down. Plus the fact, when you have 328 00:17:32,240 --> 00:17:35,520 Speaker 6: tariffs involved, you have the host country or whoever manufactures 329 00:17:35,520 --> 00:17:38,760 Speaker 6: those goods. In those countries, they have a high margin 330 00:17:38,840 --> 00:17:41,639 Speaker 6: in terms of what they sell those items to the 331 00:17:41,640 --> 00:17:44,760 Speaker 6: export because they're using cheap later labor. 332 00:17:44,880 --> 00:17:46,040 Speaker 1: They're subsidized by. 333 00:17:45,960 --> 00:17:48,600 Speaker 6: Their individual government, so they have very many They have 334 00:17:48,680 --> 00:17:51,399 Speaker 6: many breaks that we don't have here in the United States. 335 00:17:51,480 --> 00:17:53,000 Speaker 6: As a matter of fact, one of the big breaks 336 00:17:53,040 --> 00:17:55,120 Speaker 6: they have over there in certain these countries, they don't 337 00:17:55,119 --> 00:17:58,240 Speaker 6: pay health benefits, they don't pay vacation time. All they 338 00:17:58,240 --> 00:18:00,480 Speaker 6: do is pay for salary and wages. And they pay 339 00:18:00,520 --> 00:18:03,000 Speaker 6: a lower salary and wage than what we pay here 340 00:18:03,040 --> 00:18:06,880 Speaker 6: in the United States. So I mean, just as an example, 341 00:18:06,920 --> 00:18:09,760 Speaker 6: you take a pair of those Nike shoes the Jordan 342 00:18:09,880 --> 00:18:15,879 Speaker 6: and whatever those shoes are, those cost them about twenty 343 00:18:15,920 --> 00:18:18,159 Speaker 6: five to thirty dollars to make, and you know what 344 00:18:18,240 --> 00:18:21,480 Speaker 6: they are on the retail shelves anywhere between one hundred 345 00:18:21,520 --> 00:18:23,960 Speaker 6: and eighty five and two hundred and sum dollars, so 346 00:18:24,119 --> 00:18:26,600 Speaker 6: you know there's a big mark up there. So the 347 00:18:26,880 --> 00:18:29,560 Speaker 6: companies that make these shoes and then sell them to 348 00:18:29,560 --> 00:18:31,719 Speaker 6: the exporters, they eat a little bit of that tariff. 349 00:18:31,920 --> 00:18:33,879 Speaker 6: The exporters, they want to make sure that they have 350 00:18:33,960 --> 00:18:37,000 Speaker 6: their market share, they keep their market share intact. They 351 00:18:37,000 --> 00:18:38,840 Speaker 6: want to make sure that they can sell the product, 352 00:18:38,960 --> 00:18:40,640 Speaker 6: so they eat a little bit of that tariff. 353 00:18:40,760 --> 00:18:42,760 Speaker 1: The importers also eat a little. 354 00:18:42,520 --> 00:18:45,359 Speaker 6: Bit of the terraffs because again they have customers on 355 00:18:45,359 --> 00:18:47,800 Speaker 6: the other end, the retailers and the whole salers, et cetera, 356 00:18:48,080 --> 00:18:49,840 Speaker 6: that they want to make sure that they're happy that 357 00:18:49,880 --> 00:18:52,240 Speaker 6: they can sell those shoes to they sell those then 358 00:18:52,240 --> 00:18:54,880 Speaker 6: to the whole saler the retailers. The retailers say, well, 359 00:18:54,920 --> 00:18:58,560 Speaker 6: you know what, we don't want to lose customer satisfaction. 360 00:18:58,680 --> 00:19:00,959 Speaker 6: We don't want to lose our marktket share or whatever. 361 00:19:01,119 --> 00:19:03,000 Speaker 6: We want customers to keep coming in the door, so 362 00:19:03,000 --> 00:19:04,800 Speaker 6: we'll eat a little bit of those tariffs. So very 363 00:19:04,800 --> 00:19:07,240 Speaker 6: little of those tariffs actually get to the actual consumer, 364 00:19:07,480 --> 00:19:09,760 Speaker 6: and so that's the way things are designed to happen. 365 00:19:10,000 --> 00:19:13,320 Speaker 6: And again, if reciprocal tariffs are in place, then our 366 00:19:13,400 --> 00:19:16,520 Speaker 6: manufacturers on this end aren't going to disadvantage of sending 367 00:19:16,520 --> 00:19:19,159 Speaker 6: stuff over to these other countries. I pointed out in 368 00:19:19,160 --> 00:19:22,480 Speaker 6: the past that you know in Germany and Europe. In Europe, 369 00:19:22,600 --> 00:19:26,960 Speaker 6: Mercedes are a very popular car over there. Taxi drivers 370 00:19:27,200 --> 00:19:30,520 Speaker 6: buy them and use them. How many taxi cabs in 371 00:19:30,520 --> 00:19:33,679 Speaker 6: the United States, how many uber drivers drive Mercedes Because 372 00:19:33,720 --> 00:19:36,200 Speaker 6: of the cost of the car over there is a 373 00:19:36,240 --> 00:19:38,520 Speaker 6: lot cheaper than the car over here. And so if 374 00:19:38,560 --> 00:19:40,800 Speaker 6: they're going to put that tax on there, maybe they 375 00:19:40,800 --> 00:19:42,679 Speaker 6: should have some of our forwards over there. Maybe they 376 00:19:42,680 --> 00:19:44,840 Speaker 6: should have some of our Chevies or something like that. 377 00:19:45,000 --> 00:19:46,840 Speaker 6: But you don't see many of those. You don't see 378 00:19:46,880 --> 00:19:49,520 Speaker 6: many of the f one to fifty pickup trucks in Japan, 379 00:19:49,680 --> 00:19:52,560 Speaker 6: which you're going to be seeing coming up because now 380 00:19:52,640 --> 00:19:55,680 Speaker 6: Japan is starting to import some of our f one fifties. 381 00:19:55,880 --> 00:19:58,320 Speaker 6: That's good for the manufacturing here in the United States, 382 00:19:58,400 --> 00:20:00,200 Speaker 6: and it's going to be good for the consumers over 383 00:20:00,200 --> 00:20:02,879 Speaker 6: there because they've got more choices to choose. But again 384 00:20:03,200 --> 00:20:05,960 Speaker 6: that you can't you know, you can't preach to people 385 00:20:05,960 --> 00:20:09,680 Speaker 6: that have closed minds and they already manufacture in their 386 00:20:09,720 --> 00:20:13,880 Speaker 6: brain that tariffs automatically leaves to lead to inflation. Maybe 387 00:20:13,880 --> 00:20:15,960 Speaker 6: they ought to pick up an economics book and find 388 00:20:15,960 --> 00:20:20,679 Speaker 6: out what the factor of outright and overrun and too 389 00:20:20,800 --> 00:20:24,440 Speaker 6: much government spending does to inflation. What do you think 390 00:20:24,480 --> 00:20:27,480 Speaker 6: the inflation rate happens to be as far as government 391 00:20:27,520 --> 00:20:32,639 Speaker 6: aid going to schools, autistic programs in Minneapolis that don't exist, 392 00:20:32,720 --> 00:20:36,040 Speaker 6: daycare centers that don't exist, companies that got money from 393 00:20:36,720 --> 00:20:41,800 Speaker 6: the stimulus package, or for the companies that did that 394 00:20:41,880 --> 00:20:44,359 Speaker 6: said they were out of business and got government subsidies 395 00:20:44,400 --> 00:20:47,600 Speaker 6: for that which didn't have businesses. At the same time, 396 00:20:47,880 --> 00:20:49,919 Speaker 6: they you know, all the fraud that went on with 397 00:20:50,000 --> 00:20:52,600 Speaker 6: those programs. But God forbid that they take it a 398 00:20:52,600 --> 00:20:54,239 Speaker 6: look at some of the fraud that goes out as 399 00:20:54,240 --> 00:20:56,760 Speaker 6: far as these grants and these programs and cut that 400 00:20:56,880 --> 00:20:59,359 Speaker 6: out so that that lowers the inflation because that cost 401 00:20:59,480 --> 00:21:02,880 Speaker 6: us money. Well, but again they're talking here about twenty 402 00:21:02,960 --> 00:21:08,080 Speaker 6: percent inflation rate or the inflation rate being what it is, 403 00:21:08,359 --> 00:21:14,199 Speaker 6: and talking about where these terraffs were. So again it 404 00:21:14,359 --> 00:21:18,080 Speaker 6: just boggles my mind. Again how short sided. These people 405 00:21:18,119 --> 00:21:23,080 Speaker 6: are again fourteen point three percent teriff rate. Even a 406 00:21:23,200 --> 00:21:26,479 Speaker 6: ten point five percent tariff rate is nowhere near what 407 00:21:26,520 --> 00:21:30,119 Speaker 6: our inflation rate is now. So somewhere along the line, 408 00:21:30,200 --> 00:21:33,200 Speaker 6: the terraffs are being eaten up or certain prices come 409 00:21:33,240 --> 00:21:34,960 Speaker 6: down as a result of those terraffs. 410 00:21:35,000 --> 00:21:35,800 Speaker 1: We'll pick this up. 411 00:21:35,760 --> 00:21:38,920 Speaker 6: And talk a little better food inflation here in these reports. 412 00:21:39,040 --> 00:21:42,000 Speaker 6: I'm Kevin Gordon, America's truck at Network seven hundred. 413 00:21:41,800 --> 00:21:44,600 Speaker 5: W Era Hi. She started putting a portion of her 414 00:21:44,640 --> 00:21:48,080 Speaker 5: marketing dollars in podcasting back in June. Business is booming. 415 00:21:48,240 --> 00:21:51,359 Speaker 5: That's why I'm working on a Saturday. Want to be 416 00:21:51,480 --> 00:21:54,040 Speaker 5: like Jim and Sarah. It's easy. All you have to 417 00:21:54,040 --> 00:21:56,120 Speaker 5: do is own or manage a business and reach out 418 00:21:56,160 --> 00:21:59,199 Speaker 5: to iHeart get started today at eight four four eight 419 00:21:59,280 --> 00:22:11,399 Speaker 5: four four Oriheartadvertising dot Com. 420 00:22:11,480 --> 00:22:13,680 Speaker 9: Here's your trucking forecast for the Try State and the 421 00:22:13,760 --> 00:22:14,600 Speaker 9: rest of the country. 422 00:22:14,800 --> 00:22:15,480 Speaker 5: And the Try State. 423 00:22:15,520 --> 00:22:17,800 Speaker 9: Overnight rain will move out the low down to thirty three, 424 00:22:18,000 --> 00:22:20,639 Speaker 9: partly sunny sky is gradually becoming sunny Thursday, and it 425 00:22:20,640 --> 00:22:23,119 Speaker 9: will be colder. The high year fifty partly sunny and 426 00:22:23,160 --> 00:22:26,160 Speaker 9: wendy Friday. The high year sixty Saturday, partly sunny, high 427 00:22:26,200 --> 00:22:29,040 Speaker 9: of fifty four, mostly clouding with the chance of afternoon showers, 428 00:22:29,040 --> 00:22:31,440 Speaker 9: and warmer Sunday at high of seventy two, but temperatures 429 00:22:31,440 --> 00:22:34,720 Speaker 9: will be dipping into the upper thirties Monday. Nationally, Wednesday 430 00:22:34,800 --> 00:22:36,919 Speaker 9: saw the threat for severe weather and flash flooding in 431 00:22:36,920 --> 00:22:39,800 Speaker 9: the Ohio Valley in Atlantic southwest of the Gulf Coast 432 00:22:39,960 --> 00:22:42,200 Speaker 9: win Your precipitation expected from the Upper Great Lakes to 433 00:22:42,280 --> 00:22:44,440 Speaker 9: northern New England now into the later part of the week. 434 00:22:44,560 --> 00:22:47,560 Speaker 9: The Pacific Northwest and the Northern Rocky scene heavy lower 435 00:22:47,560 --> 00:22:51,040 Speaker 9: elevation and coastal rain and snow and higher elevations this week. 436 00:22:51,240 --> 00:22:53,320 Speaker 9: A warming trend coming to an end Thursday for the 437 00:22:53,320 --> 00:22:55,760 Speaker 9: eastern half of the US as a cold front moves in. 438 00:22:58,720 --> 00:23:01,800 Speaker 6: Seven hundred W l w Im Kevin Gordon, this is 439 00:23:01,800 --> 00:23:06,280 Speaker 6: America's struck a network. We're looking at the consumer price 440 00:23:06,320 --> 00:23:10,480 Speaker 6: index and something that should have been celebrated, something that 441 00:23:10,520 --> 00:23:12,800 Speaker 6: should have been talked about, and something that should have 442 00:23:12,840 --> 00:23:16,280 Speaker 6: been looked at and said gee Wizard. Appears as though 443 00:23:16,560 --> 00:23:19,879 Speaker 6: the economic policies of the Trump administration are starting to 444 00:23:19,920 --> 00:23:23,280 Speaker 6: work or have been working, and they're starting filtering their 445 00:23:23,320 --> 00:23:26,600 Speaker 6: way through the economy. No, we got to take a 446 00:23:26,600 --> 00:23:30,040 Speaker 6: look at Oh, well, gasoline price has gone up because 447 00:23:30,119 --> 00:23:34,120 Speaker 6: of the war with Iran, and so now we want 448 00:23:34,119 --> 00:23:36,560 Speaker 6: to focus on that. You know, it's always they want 449 00:23:36,600 --> 00:23:39,639 Speaker 6: to focus on this shiny they want to dangle this 450 00:23:39,760 --> 00:23:43,400 Speaker 6: shiny object in front of us and try to hypnotize 451 00:23:43,480 --> 00:23:46,560 Speaker 6: us with that, rather than talking about what we already 452 00:23:46,560 --> 00:23:48,679 Speaker 6: know about and what we've seen and what could be 453 00:23:48,760 --> 00:23:51,520 Speaker 6: seen as a result of what has been proven. We 454 00:23:51,640 --> 00:23:55,480 Speaker 6: know where gasoline prices were back during the first Trump administration. 455 00:23:55,880 --> 00:23:58,560 Speaker 6: We know where oil prices were down around fifty five 456 00:23:58,600 --> 00:24:01,760 Speaker 6: dollars a barrel and that term. And yet during the 457 00:24:01,800 --> 00:24:06,240 Speaker 6: Biden administration, barrels for oil went up to one hundred 458 00:24:06,280 --> 00:24:08,800 Speaker 6: and twenty dollars a barrel for a couple of months 459 00:24:09,080 --> 00:24:13,480 Speaker 6: during the beginning of the Ukraine or the Russian invasion 460 00:24:13,480 --> 00:24:15,800 Speaker 6: of Ukraine. And we saw what gas prices went up 461 00:24:15,800 --> 00:24:18,159 Speaker 6: to almost five dollars a gallon at that point, and 462 00:24:18,240 --> 00:24:22,120 Speaker 6: inflation range right around three point two to three point 463 00:24:22,160 --> 00:24:24,439 Speaker 6: four to three point five percent throughout much of the 464 00:24:24,440 --> 00:24:27,640 Speaker 6: Biden administration. So we don't want to we don't want 465 00:24:27,680 --> 00:24:29,800 Speaker 6: to remind people of that and where we have come 466 00:24:29,920 --> 00:24:32,480 Speaker 6: since then. No, we want to talk about the future 467 00:24:32,600 --> 00:24:37,040 Speaker 6: that could create an inflationary impact on something else, which 468 00:24:37,440 --> 00:24:41,600 Speaker 6: if this conflict ends rather shortly, which it appears as 469 00:24:41,600 --> 00:24:45,840 Speaker 6: though it may within a few weeks, things will get 470 00:24:45,880 --> 00:24:47,720 Speaker 6: back to normal and we will get back to that 471 00:24:47,800 --> 00:24:50,040 Speaker 6: sixty dollars a barrel. But again they want to talk 472 00:24:50,040 --> 00:24:52,399 Speaker 6: about food inflation, and then right in the middle of 473 00:24:52,440 --> 00:24:58,080 Speaker 6: it they pretty much they must discount everything that they've said. 474 00:24:58,440 --> 00:25:04,520 Speaker 6: Terrorists aside, there also been idios idiosyncratic supply shocks that 475 00:25:04,560 --> 00:25:08,200 Speaker 6: have driven up certain food prices. Beef prices, for example, 476 00:25:08,280 --> 00:25:11,400 Speaker 6: have soared because US cattle supply is that it's lowest 477 00:25:11,440 --> 00:25:14,400 Speaker 6: in decades, not only lowest in decades, but lowest since 478 00:25:14,440 --> 00:25:18,200 Speaker 6: the nineteen fifties. Our population is more than doubled during 479 00:25:18,200 --> 00:25:20,480 Speaker 6: that period of time, and the herds from back in 480 00:25:20,520 --> 00:25:25,120 Speaker 6: the nineteen fifties. Our levels of the cattle herds are 481 00:25:25,200 --> 00:25:27,760 Speaker 6: right around what they were during the nineteen fifties. So 482 00:25:27,840 --> 00:25:32,800 Speaker 6: our population is doubled and the herds have stayed the same. 483 00:25:33,320 --> 00:25:36,600 Speaker 6: I would think that would increase prices, and so to 484 00:25:36,760 --> 00:25:40,000 Speaker 6: fix that problem is a completely different thing as opposed 485 00:25:40,040 --> 00:25:43,240 Speaker 6: to inflation in terms of it's a matter of supply 486 00:25:43,280 --> 00:25:46,080 Speaker 6: and demand, and it's a matter of mother nature and 487 00:25:46,160 --> 00:25:50,240 Speaker 6: possibly offsetting some of those or maybe providing some subsistence 488 00:25:50,400 --> 00:25:53,359 Speaker 6: to these cattlemen so that they can compete, so that 489 00:25:53,400 --> 00:25:54,720 Speaker 6: they can get through. 490 00:25:54,520 --> 00:25:56,080 Speaker 1: These rough drought areas. 491 00:25:56,359 --> 00:25:59,240 Speaker 6: So anyway, coffee prices are up about eighteen percent over 492 00:25:59,240 --> 00:26:02,560 Speaker 6: the same period, according to CPI, do largely to extreme 493 00:26:02,600 --> 00:26:06,600 Speaker 6: weather among major coffee producers like Vietnam and Brazil. Okay, 494 00:26:06,680 --> 00:26:08,280 Speaker 6: what control do we have over then? 495 00:26:08,440 --> 00:26:09,240 Speaker 1: We really don't. 496 00:26:09,680 --> 00:26:13,040 Speaker 6: Overall, CPI inflation also looks better on paper than in 497 00:26:13,080 --> 00:26:15,760 Speaker 6: reality due to a quirk in a data from the 498 00:26:15,760 --> 00:26:18,359 Speaker 6: government shutdown in the fall, which is a bunch of 499 00:26:18,359 --> 00:26:20,800 Speaker 6: bs because they say that the numbers that they were 500 00:26:20,880 --> 00:26:24,160 Speaker 6: collecting during the government shutdown, the Schumer shut down, back 501 00:26:24,240 --> 00:26:26,920 Speaker 6: during that period of time, the longest shutdown in the 502 00:26:26,960 --> 00:26:30,080 Speaker 6: history of this country, forty three days that they had. 503 00:26:29,960 --> 00:26:31,159 Speaker 1: The government shut down. 504 00:26:31,240 --> 00:26:35,680 Speaker 6: They're saying that the information gathered then was not there, 505 00:26:36,080 --> 00:26:39,439 Speaker 6: so any comparison back to that period of time that 506 00:26:39,600 --> 00:26:43,960 Speaker 6: we don't know where those numbers are. What you can't Okay, 507 00:26:44,200 --> 00:26:47,480 Speaker 6: you're missing, and they're not even missing that month long 508 00:26:47,560 --> 00:26:50,479 Speaker 6: period of time of information. They know what the numbers 509 00:26:50,520 --> 00:26:53,359 Speaker 6: were before that, they know what the numbers are after 510 00:26:53,400 --> 00:26:56,520 Speaker 6: that period, and you can't make a determination of when 511 00:26:56,560 --> 00:26:57,600 Speaker 6: those prices change. 512 00:26:57,800 --> 00:26:58,840 Speaker 1: Let me give you a clue. 513 00:26:58,960 --> 00:27:04,320 Speaker 6: Okay, if the number before the shutdown was at oh, 514 00:27:04,400 --> 00:27:07,280 Speaker 6: let's say five, and that number now is at four, 515 00:27:07,640 --> 00:27:10,720 Speaker 6: guess what it decreased. You can't say that, wow, gee whiz. 516 00:27:10,720 --> 00:27:12,639 Speaker 6: We don't know what happened in between. We don't know 517 00:27:12,640 --> 00:27:15,200 Speaker 6: what happened between that forty three days. Look at the beginning, 518 00:27:15,320 --> 00:27:18,040 Speaker 6: look at the end, and see where it is. And 519 00:27:18,080 --> 00:27:21,119 Speaker 6: in some instances, a lot of that information was available 520 00:27:21,320 --> 00:27:23,600 Speaker 6: if you only dig into it, because they didn't have 521 00:27:23,640 --> 00:27:27,400 Speaker 6: a problem reporting it anyway. It's just the record long 522 00:27:27,440 --> 00:27:30,320 Speaker 6: shutdown ran from this October the first to November twelve. 523 00:27:30,720 --> 00:27:34,280 Speaker 6: Taking that measurement into effects, CPI is likely around. And 524 00:27:34,320 --> 00:27:38,320 Speaker 6: then they guess what the inflation might be. Well, either 525 00:27:38,359 --> 00:27:40,640 Speaker 6: the numbers were up or they were down. And if 526 00:27:40,640 --> 00:27:42,840 Speaker 6: you look at the inflation rate from where it was 527 00:27:43,080 --> 00:27:45,080 Speaker 6: even go back to that period of time, even before 528 00:27:45,119 --> 00:27:51,480 Speaker 6: the shutdown, where are we We're lower now? Same news 529 00:27:51,600 --> 00:27:57,680 Speaker 6: reporting organization. I just love this they get into. It's 530 00:27:57,720 --> 00:28:02,920 Speaker 6: a different scenario talking about in the consumer Price Index, 531 00:28:03,160 --> 00:28:05,480 Speaker 6: and I guess it's a different group of people that 532 00:28:05,560 --> 00:28:09,400 Speaker 6: they talk to and who they were interviewing as far 533 00:28:09,440 --> 00:28:13,119 Speaker 6: as these numbers were concerned. They go in here and 534 00:28:13,160 --> 00:28:17,440 Speaker 6: they're talking about the individual things in terms of annual prices, 535 00:28:17,520 --> 00:28:20,400 Speaker 6: they talk about the apparel, they talk about prices consumers 536 00:28:20,440 --> 00:28:24,240 Speaker 6: are paying. They go in here and they say that 537 00:28:24,760 --> 00:28:30,679 Speaker 6: the inflation that terriffs had very little to do with 538 00:28:30,960 --> 00:28:32,200 Speaker 6: the price of. 539 00:28:32,400 --> 00:28:33,879 Speaker 1: Any increase in prices. 540 00:28:34,359 --> 00:28:37,439 Speaker 6: And it's just amazing that in two in the same 541 00:28:37,640 --> 00:28:45,000 Speaker 6: reporting organization, the MSNBC, not MSNBC, but c NBC, they 542 00:28:45,040 --> 00:28:51,520 Speaker 6: have the explanation of inflation pressures from different, two different scenarios, 543 00:28:51,920 --> 00:28:54,800 Speaker 6: and they both contradict each other. They don't have an 544 00:28:54,800 --> 00:28:57,680 Speaker 6: indication in terms of they you know, they do break 545 00:28:57,720 --> 00:29:00,720 Speaker 6: down in terms of where the increases are. They talk 546 00:29:00,760 --> 00:29:04,320 Speaker 6: about basically the same numbers, but when they talk to 547 00:29:04,360 --> 00:29:08,040 Speaker 6: the individual and analysts, they come up with a completely 548 00:29:08,120 --> 00:29:12,000 Speaker 6: different impact or completely different number from what they were expecting. 549 00:29:12,560 --> 00:29:16,440 Speaker 6: And they basically and in this instance, they say, let 550 00:29:16,520 --> 00:29:21,600 Speaker 6: me see, let's see. Despite fears that terrafs would spur 551 00:29:21,680 --> 00:29:26,520 Speaker 6: inflation and complicate matters for the FED, the CPI report 552 00:29:26,640 --> 00:29:31,680 Speaker 6: shows generally receding costs and goods most impacted by terraffs, 553 00:29:31,720 --> 00:29:35,720 Speaker 6: and rising prices for key services components such as medical care, 554 00:29:36,080 --> 00:29:42,360 Speaker 6: airline fares, and lodging. So two stories from the same 555 00:29:42,440 --> 00:29:46,640 Speaker 6: reporting group CNBC one comes to one conclusion that the 556 00:29:46,640 --> 00:29:49,760 Speaker 6: inflation is the result of terras Then, when they dig 557 00:29:49,800 --> 00:29:52,920 Speaker 6: into the numbers over on this particular story, despite the 558 00:29:52,960 --> 00:29:56,120 Speaker 6: fears that terraffs would spur inflation and complicate matters for 559 00:29:56,160 --> 00:30:00,760 Speaker 6: the FED, the CPI report shows generally receding costs in 560 00:30:00,840 --> 00:30:04,840 Speaker 6: goods most likely impacted by terrorists, and rising prices for 561 00:30:05,000 --> 00:30:10,240 Speaker 6: key services components such as medical care, airline fares, and lodging. Again, 562 00:30:11,320 --> 00:30:15,440 Speaker 6: the numbers are there, the information is there, and despite 563 00:30:15,520 --> 00:30:18,520 Speaker 6: what the spoon feder regurgitators say, as far as their 564 00:30:18,600 --> 00:30:23,080 Speaker 6: individual headlines are concerned, it's necessary to dig into the numbers, 565 00:30:23,200 --> 00:30:26,000 Speaker 6: dig into the stories to come up with the actual 566 00:30:26,360 --> 00:30:32,920 Speaker 6: truth behind the headlines. Also, talking about median income buyers, 567 00:30:33,960 --> 00:30:38,480 Speaker 6: headline here is median income home buyers can afford thirty 568 00:30:38,520 --> 00:30:40,720 Speaker 6: thousand dollars more house than they. 569 00:30:40,560 --> 00:30:44,360 Speaker 1: Could a year ago. Gee, I wonder what could have 570 00:30:44,480 --> 00:30:45,040 Speaker 1: caused that? 571 00:30:46,040 --> 00:30:46,200 Speaker 6: Oh? 572 00:30:46,720 --> 00:30:50,480 Speaker 1: Maybe maybe interest? Huh? What do you think when it 573 00:30:50,520 --> 00:30:51,400 Speaker 1: comes to buying a house? 574 00:30:51,440 --> 00:30:56,120 Speaker 6: Affordability continues to slowly improve. US households that have a 575 00:30:56,200 --> 00:31:01,680 Speaker 6: median income and estimated eighty six three hundred dollars and 576 00:31:01,880 --> 00:31:04,560 Speaker 6: enough money for a twenty percent down payment can now 577 00:31:04,600 --> 00:31:07,880 Speaker 6: afford a three hundred and thirty one thousand dollars home 578 00:31:08,360 --> 00:31:11,200 Speaker 6: up to thirty thousand more than the three hundred thousand 579 00:31:11,200 --> 00:31:13,880 Speaker 6: dollars home a year ago. Now, we have done that 580 00:31:13,920 --> 00:31:18,760 Speaker 6: scenario on this show numerous times. We had we looked 581 00:31:18,800 --> 00:31:21,360 Speaker 6: at the numbers when they said that okay, based on 582 00:31:21,720 --> 00:31:25,280 Speaker 6: the median price home at a three hundred well, they 583 00:31:25,320 --> 00:31:28,600 Speaker 6: were saying that the median home price was around four 584 00:31:28,680 --> 00:31:33,360 Speaker 6: hundred thousand, but the story indicated that the average sales 585 00:31:33,400 --> 00:31:36,440 Speaker 6: for the houses were around three hundred and fifty. They 586 00:31:36,480 --> 00:31:39,920 Speaker 6: talked in terms of bank rate. They had this bank 587 00:31:40,000 --> 00:31:42,720 Speaker 6: rate and one other one that did the mortgage calculation, 588 00:31:42,840 --> 00:31:45,240 Speaker 6: and they said, based on one hundred and ten thousand 589 00:31:45,280 --> 00:31:47,960 Speaker 6: dollars income, this is the type of house you can 590 00:31:48,000 --> 00:31:51,200 Speaker 6: afford at X and such interest rate. And it was 591 00:31:51,280 --> 00:31:54,560 Speaker 6: the higher interest rate at seven percent when we looked 592 00:31:54,560 --> 00:31:58,120 Speaker 6: at that compared to pre plandemic interest rates around three percent. 593 00:31:58,480 --> 00:32:00,840 Speaker 6: The difference in the size house and the price house 594 00:32:00,880 --> 00:32:03,880 Speaker 6: that you could afford was one hundred. The difference between 595 00:32:03,920 --> 00:32:06,920 Speaker 6: the seven percent and the three percent was, if a 596 00:32:07,000 --> 00:32:09,720 Speaker 6: memory serves me, crest about one hundred and fifty seven 597 00:32:09,760 --> 00:32:14,920 Speaker 6: one hundred and sixty seven thousand dollars. Also a difference 598 00:32:14,960 --> 00:32:18,080 Speaker 6: of about twelve hundred dollars per month as far as 599 00:32:18,080 --> 00:32:19,440 Speaker 6: your mortgage rate was concerned. 600 00:32:19,560 --> 00:32:21,920 Speaker 1: So if people could save twelve. 601 00:32:21,640 --> 00:32:24,680 Speaker 6: Hundred dollars just based on the interest rate, that's how 602 00:32:24,760 --> 00:32:27,120 Speaker 6: much house they could have afforded. And of course, now 603 00:32:27,120 --> 00:32:28,960 Speaker 6: all of a sudden, they're coming out with some of 604 00:32:29,000 --> 00:32:32,240 Speaker 6: these scenarios householders that have median income of eighty six thousand, 605 00:32:32,280 --> 00:32:34,720 Speaker 6: three hundred, they used a little bit less than we did, 606 00:32:35,000 --> 00:32:37,200 Speaker 6: and they came up with a person canal afford a 607 00:32:37,240 --> 00:32:41,040 Speaker 6: house at three hundred and thirty one thousand, thirty thousand 608 00:32:41,160 --> 00:32:43,520 Speaker 6: more than what they could have a little bit more 609 00:32:43,520 --> 00:32:46,520 Speaker 6: about this story coming up. I'm Kevin Gordon, America's Trucking 610 00:32:46,520 --> 00:32:52,120 Speaker 6: Network seven hundred WLW. 611 00:32:50,640 --> 00:32:56,800 Speaker 3: News Radio seven hundred WLW and iHeartRadio Station Guarantee Human 612 00:32:57,240 --> 00:33:02,720 Speaker 3: seven hundred WLW HID Radio Live from the seven hundred 613 00:33:02,800 --> 00:33:07,200 Speaker 3: WLW studios driven by Mike Cashtrecy Jeep in Fairfacts, now 614 00:33:07,280 --> 00:33:10,320 Speaker 3: recognized as the largest volume JEP dealer in Greater Cincinnati. 615 00:33:10,400 --> 00:33:13,360 Speaker 3: In northern Kentucky, Mike Cashtrec Jeep is the number one 616 00:33:13,440 --> 00:33:14,760 Speaker 3: jeep dealer in the tri State. 617 00:33:15,080 --> 00:33:18,000 Speaker 5: That's Mike cashtreuc jeeb in Fairfacts. 618 00:33:21,160 --> 00:33:24,960 Speaker 6: That as America's truck a Network seven hundred wlw IM 619 00:33:25,000 --> 00:33:27,600 Speaker 6: and Kevin Gordon. We were talking about in the previous 620 00:33:27,600 --> 00:33:31,960 Speaker 6: segment median home prices and median home buyers can afford 621 00:33:31,960 --> 00:33:34,200 Speaker 6: a thirty thousand more for a house than they could 622 00:33:34,200 --> 00:33:36,719 Speaker 6: a year ago. If you miss that scenario, or if 623 00:33:36,760 --> 00:33:38,480 Speaker 6: you missed any of our previous segments, hit up that 624 00:33:38,480 --> 00:33:40,960 Speaker 6: iHeartRadio app brought to you by our friends at Rush 625 00:33:41,000 --> 00:33:43,680 Speaker 6: Truck Centers. Now they go into this story and of 626 00:33:43,680 --> 00:33:46,840 Speaker 6: course you know, even though you would think, okay, that's 627 00:33:46,880 --> 00:33:49,360 Speaker 6: something to be celebrated, they can afford now a thirty 628 00:33:49,440 --> 00:33:52,720 Speaker 6: thousand dollars more home because interest rates have come down, 629 00:33:53,040 --> 00:33:55,920 Speaker 6: or that they are heading down, and if the FED 630 00:33:55,960 --> 00:33:57,800 Speaker 6: would get off their butt and lower them to where 631 00:33:57,800 --> 00:34:01,240 Speaker 6: they are compared to the other moregage rates around the world, 632 00:34:01,360 --> 00:34:04,760 Speaker 6: well actually not around the world, but with the developed 633 00:34:04,840 --> 00:34:11,480 Speaker 6: countries the Western economies, the freer economies, how their interest 634 00:34:11,560 --> 00:34:15,279 Speaker 6: rates are, how much their I mean, their interest rates 635 00:34:15,280 --> 00:34:18,400 Speaker 6: on homes on mortgages is right around two and a 636 00:34:18,440 --> 00:34:21,600 Speaker 6: half to three percent. Ours are still up above, right 637 00:34:21,600 --> 00:34:25,200 Speaker 6: around six percent or thereabout. And so if you're talking 638 00:34:25,200 --> 00:34:29,040 Speaker 6: about what people can afford at different interest rates, they 639 00:34:29,040 --> 00:34:31,120 Speaker 6: could afford a heck a lot more at a lower 640 00:34:31,120 --> 00:34:31,760 Speaker 6: interest rates. 641 00:34:32,080 --> 00:34:32,319 Speaker 1: Us. 642 00:34:32,560 --> 00:34:34,600 Speaker 6: Let me see, we talked about the US housing thirty 643 00:34:34,640 --> 00:34:36,960 Speaker 6: thousand increase in buying a power can open up a 644 00:34:37,000 --> 00:34:41,240 Speaker 6: different neighborhood, bigger home, or a home with fewer compromises. 645 00:34:41,520 --> 00:34:44,000 Speaker 6: The improvement is at least partly due to interest rates 646 00:34:44,080 --> 00:34:46,560 Speaker 6: that have come down slowly. The average rate on a 647 00:34:46,760 --> 00:34:49,759 Speaker 6: fixed three year fixed mortgage was five point nine to 648 00:34:49,800 --> 00:34:54,160 Speaker 6: nine percent in February, but has since ticked up to 649 00:34:54,280 --> 00:34:57,520 Speaker 6: six point one point four according to the paper. A 650 00:34:57,600 --> 00:35:00,439 Speaker 6: year ago was at six point seven nine. And again 651 00:35:00,520 --> 00:35:03,680 Speaker 6: I keep talking about in previous stories, and maybe I'll 652 00:35:03,680 --> 00:35:06,879 Speaker 6: have to do that tomorrow. Possibly take a look at 653 00:35:06,920 --> 00:35:10,279 Speaker 6: the individual mortgage rates. What you can afford at a 654 00:35:10,280 --> 00:35:14,440 Speaker 6: certain rate, at a certain income level, the hiles that 655 00:35:14,520 --> 00:35:17,040 Speaker 6: you can afford at this current rate, what you could 656 00:35:17,040 --> 00:35:19,399 Speaker 6: afford at a lower rate, which is where it should be, 657 00:35:19,680 --> 00:35:22,680 Speaker 6: where it was prior to the pandemic. And take a 658 00:35:22,680 --> 00:35:25,680 Speaker 6: look at those numbers there, but the amount of home 659 00:35:25,719 --> 00:35:28,160 Speaker 6: that people can afford. And then when you lower that 660 00:35:28,200 --> 00:35:30,919 Speaker 6: price and more people can get into the market, more 661 00:35:31,120 --> 00:35:34,160 Speaker 6: first time buyers can get into the market and get 662 00:35:34,200 --> 00:35:35,960 Speaker 6: more bang for their buck. 663 00:35:36,400 --> 00:35:37,359 Speaker 1: So again. 664 00:35:38,560 --> 00:35:41,080 Speaker 6: Interesting here that people are finally catching up to us 665 00:35:41,080 --> 00:35:43,920 Speaker 6: here on America's truck A network. We've been talking about 666 00:35:43,920 --> 00:35:46,480 Speaker 6: this for over a year now, and it's amazing that 667 00:35:46,560 --> 00:35:48,799 Speaker 6: suddenly some people are starting to take a look at 668 00:35:48,960 --> 00:35:51,040 Speaker 6: what ge was. You know, if interest rates were lower, 669 00:35:51,719 --> 00:35:53,879 Speaker 6: this is what people could afford, and we get some 670 00:35:53,960 --> 00:35:56,800 Speaker 6: more first time home buyers in there. A one percent 671 00:35:56,880 --> 00:35:59,640 Speaker 6: drive they're talking here about a one percent point drop 672 00:35:59,640 --> 00:36:02,200 Speaker 6: in rate could expand the pool of households that can 673 00:36:02,239 --> 00:36:05,560 Speaker 6: afford to buy a home by about five point five 674 00:36:05,960 --> 00:36:11,319 Speaker 6: million households, including roughly one point six million renters who 675 00:36:11,360 --> 00:36:16,320 Speaker 6: could become first time home buyers. Again, that is extremely important. Again, 676 00:36:16,680 --> 00:36:20,359 Speaker 6: lowering interest rates by one percentage point, if we're down 677 00:36:20,400 --> 00:36:23,400 Speaker 6: from six point nine percent, six point seven nine percent 678 00:36:23,680 --> 00:36:26,640 Speaker 6: down to around six percent, that means that one point 679 00:36:26,640 --> 00:36:29,200 Speaker 6: six million people can now afford to get out of 680 00:36:29,239 --> 00:36:30,320 Speaker 6: an apartment. 681 00:36:30,080 --> 00:36:31,040 Speaker 1: And into a new home. 682 00:36:31,280 --> 00:36:34,120 Speaker 6: If they could get down to the five point five percent, 683 00:36:34,360 --> 00:36:37,040 Speaker 6: or get down to even five percent or even below that, 684 00:36:37,600 --> 00:36:41,240 Speaker 6: I think about for every one percentage point up from 685 00:36:41,640 --> 00:36:45,520 Speaker 6: down from right around six percent, So at five percent, 686 00:36:45,640 --> 00:36:49,760 Speaker 6: four percent, three percent, basically you're talking about four point 687 00:36:49,840 --> 00:36:52,880 Speaker 6: five million people that could get out of renting and 688 00:36:52,920 --> 00:36:54,920 Speaker 6: get in the first time home buyers. 689 00:36:55,040 --> 00:36:56,759 Speaker 1: That is absolutely incredible. 690 00:36:57,280 --> 00:37:02,520 Speaker 6: Because oil and gas prices or oil basically has been fluctuating, 691 00:37:02,520 --> 00:37:05,800 Speaker 6: and as I've talked about, it's been an absolute roller coaster. 692 00:37:06,160 --> 00:37:08,640 Speaker 6: Let's take a look at that and talk in terms 693 00:37:08,640 --> 00:37:10,920 Speaker 6: of some of the stuff that's going on as a 694 00:37:11,000 --> 00:37:12,400 Speaker 6: result of the oil markets. 695 00:37:12,560 --> 00:37:13,520 Speaker 1: PHILP. Flynn and his. 696 00:37:13,640 --> 00:37:19,080 Speaker 6: Energy report yesterday was talking about Iran's threat to mine 697 00:37:19,120 --> 00:37:23,560 Speaker 6: the Strait of Hormuz and tie up traffic. Now, again, 698 00:37:24,600 --> 00:37:27,759 Speaker 6: we are looking at a regime. We are looking at 699 00:37:27,800 --> 00:37:33,000 Speaker 6: a This is not mining their shipping lanes, this is 700 00:37:33,080 --> 00:37:38,640 Speaker 6: not mining their coast. This is going out into international 701 00:37:38,719 --> 00:37:44,560 Speaker 6: waters and putting mines in an area to hold up trade, 702 00:37:44,880 --> 00:37:49,560 Speaker 6: to kill people that have nothing to do with the conflict. 703 00:37:49,600 --> 00:37:53,440 Speaker 6: The conflict is between the United States, Israel, and Iran. 704 00:37:53,920 --> 00:37:57,399 Speaker 6: It's not between Iran and the United Arab Emirates, which 705 00:37:57,440 --> 00:38:01,200 Speaker 6: they have shot a disproportioned number of targets missiles into 706 00:38:01,239 --> 00:38:05,480 Speaker 6: that country. If they're attacking ships and any flagship in 707 00:38:05,520 --> 00:38:08,799 Speaker 6: the Strait of Hormuz, they aren't. We've already seen them 708 00:38:09,280 --> 00:38:13,880 Speaker 6: shooting missiles towards Turkey, We've seen them attack Cyprus, So 709 00:38:14,080 --> 00:38:16,959 Speaker 6: it doesn't matter to them who they attack. They put 710 00:38:17,200 --> 00:38:22,120 Speaker 6: minds in international water. Let that sink in for a moment. Here, 711 00:38:22,160 --> 00:38:24,960 Speaker 6: You've got a group that it doesn't care about the 712 00:38:25,000 --> 00:38:28,000 Speaker 6: lives of their own people, let alone the lives of 713 00:38:28,040 --> 00:38:31,880 Speaker 6: people out in the high seas or international waters. That 714 00:38:31,880 --> 00:38:34,920 Speaker 6: they will literally put mines out there to try to 715 00:38:35,000 --> 00:38:38,319 Speaker 6: sink ships, to tie up and cause pain in the 716 00:38:38,360 --> 00:38:42,719 Speaker 6: worldwide economy simply because they are out of control. They 717 00:38:42,760 --> 00:38:44,799 Speaker 6: want to develop a neuke so that they can wipe 718 00:38:44,920 --> 00:38:46,880 Speaker 6: Israel off the face of the earth, and we're not 719 00:38:47,000 --> 00:38:51,000 Speaker 6: letting them do it. So again, why this is such 720 00:38:51,040 --> 00:38:54,760 Speaker 6: a hard concept for these people to understand. But anyway, 721 00:38:54,800 --> 00:38:56,560 Speaker 6: let's take a little bit oil and gas prices. Oil 722 00:38:56,680 --> 00:38:59,160 Speaker 6: currently is an eighty eight dollars and thirteen cents a barrel. 723 00:38:59,200 --> 00:39:01,680 Speaker 6: That's up four dollar and sixty eight cents from yesterday. 724 00:39:01,920 --> 00:39:05,439 Speaker 6: So again because of the threats of the mines in 725 00:39:05,560 --> 00:39:09,080 Speaker 6: the strait of horror moves that has jumped prices up 726 00:39:09,120 --> 00:39:11,839 Speaker 6: a little bit. Now again, remember yesterday they'd come down 727 00:39:11,920 --> 00:39:14,319 Speaker 6: like thirteen dollars a barrel, and now they're back up 728 00:39:14,400 --> 00:39:17,880 Speaker 6: about four dollars a barrel or about five point six percent. 729 00:39:18,120 --> 00:39:20,399 Speaker 6: Brent krude currently is ninety two dollars and forty two 730 00:39:20,440 --> 00:39:23,440 Speaker 6: cents of barrel, up four dollars and sixty two cents 731 00:39:23,520 --> 00:39:26,960 Speaker 6: on the day. Now, as I mentioned Phil Flynn, the 732 00:39:27,040 --> 00:39:30,920 Speaker 6: title of his energy report was mine your own business 733 00:39:30,920 --> 00:39:35,719 Speaker 6: and that's mine. Iranian regime is going out the same 734 00:39:35,760 --> 00:39:38,560 Speaker 6: way that it came in, as cowards that went in 735 00:39:38,600 --> 00:39:42,680 Speaker 6: to inflict their warped sense of value by taking hostages. 736 00:39:43,000 --> 00:39:45,960 Speaker 6: The beginning of nineteen seventy nine, Iranian militants stormed the 737 00:39:46,000 --> 00:39:49,479 Speaker 6: US embassy in Tehran. A total number of sixty six 738 00:39:49,520 --> 00:39:53,160 Speaker 6: Americans were initially taken hostage. Within the first two weeks 739 00:39:53,160 --> 00:39:58,000 Speaker 6: of the crisis, Iatola Komani ordered to release a thirteen hostages, women, 740 00:39:58,160 --> 00:40:01,520 Speaker 6: African Americans, et cetera. Other hostage It was released due 741 00:40:01,560 --> 00:40:04,880 Speaker 6: to ONUS on July the eleventh and nineteen eighty remaining 742 00:40:04,920 --> 00:40:08,720 Speaker 6: fifty two were held hostage for four hundred and forty 743 00:40:08,880 --> 00:40:12,960 Speaker 6: four days. Released on January the twentieth, nineteen eighty one, 744 00:40:13,360 --> 00:40:16,759 Speaker 6: just as Ronald Reagan's inauguration when he said, if they're 745 00:40:16,800 --> 00:40:19,879 Speaker 6: not released by the time I've become president, look out. 746 00:40:20,400 --> 00:40:22,160 Speaker 6: They should have taken them at their word then and 747 00:40:22,719 --> 00:40:26,200 Speaker 6: taken steps to eliminate that regime back then. But again 748 00:40:26,840 --> 00:40:30,000 Speaker 6: it talks about in here that the International Energy Agency 749 00:40:30,360 --> 00:40:34,200 Speaker 6: is looking at the international oil reserves, the strategic petroleum 750 00:40:34,200 --> 00:40:37,000 Speaker 6: reserves that have been built up, going to release about 751 00:40:37,000 --> 00:40:41,080 Speaker 6: four hundred million barrels from that, talking about how some 752 00:40:41,120 --> 00:40:44,279 Speaker 6: of these gunboats and some of these mine operations are 753 00:40:44,360 --> 00:40:51,960 Speaker 6: being stifled by Israeli missiles and well attacks by American 754 00:40:52,480 --> 00:40:57,840 Speaker 6: jets and American missiles and Iranian military as well. In 755 00:40:57,880 --> 00:41:00,840 Speaker 6: the explanation here, oil prices gain more than four percent 756 00:41:00,840 --> 00:41:03,399 Speaker 6: on Wednesday, is fresh attacks on ships in the straight 757 00:41:03,440 --> 00:41:07,080 Speaker 6: of horror moves worsened. They talked about that there had 758 00:41:07,400 --> 00:41:09,719 Speaker 6: been a ship that was hit. They didn't talk about 759 00:41:09,760 --> 00:41:12,120 Speaker 6: any of them being sunk. Up to this point, there's 760 00:41:12,120 --> 00:41:17,040 Speaker 6: been about fourteen since the Iran conflict began, so again, 761 00:41:17,080 --> 00:41:21,000 Speaker 6: there's still a lot of tension over there. Gas prices 762 00:41:21,120 --> 00:41:25,120 Speaker 6: are currently national average at three dollars and fifty eight cents, 763 00:41:25,480 --> 00:41:29,080 Speaker 6: diesel national averages of four dollars and eighty three cents. 764 00:41:29,400 --> 00:41:32,839 Speaker 6: Gas prices right now are about fifty cents higher than 765 00:41:32,840 --> 00:41:35,959 Speaker 6: what they were a year ago during this period of time. 766 00:41:36,280 --> 00:41:39,680 Speaker 6: The surprising thing is with this diesel prices are up 767 00:41:40,320 --> 00:41:44,320 Speaker 6: actually a dollar twenty per gallon than what they were now. 768 00:41:44,440 --> 00:41:45,279 Speaker 1: I want to take you back. 769 00:41:46,120 --> 00:41:48,560 Speaker 6: Let's step into the time capsule here for a moment, 770 00:41:48,800 --> 00:41:52,760 Speaker 6: and let's go back to twenty twenty two when Russia 771 00:41:52,800 --> 00:41:56,080 Speaker 6: invaded Ukraine, which, by the way, if NATO had been 772 00:41:56,120 --> 00:41:58,520 Speaker 6: doing their job and Biden had been doing their job, 773 00:41:58,800 --> 00:42:02,960 Speaker 6: that never would have happen. Biden was asked by a 774 00:42:03,000 --> 00:42:05,640 Speaker 6: reporter at one of these NATO conferences, in NATO Summer 775 00:42:06,160 --> 00:42:11,200 Speaker 6: Summit Conference in Madrid, ask if you know as long 776 00:42:11,200 --> 00:42:14,839 Speaker 6: as how long do you expect the United States and 777 00:42:14,960 --> 00:42:18,400 Speaker 6: the world to be paying more for gasoline prices? Because 778 00:42:18,480 --> 00:42:21,839 Speaker 6: at that time, gasoline had got up to around four 779 00:42:21,880 --> 00:42:25,240 Speaker 6: dollars and fifty cents and was approaching five dollars a gallon. 780 00:42:25,680 --> 00:42:30,160 Speaker 6: Joe Biden's response was as long as it takes. So 781 00:42:30,280 --> 00:42:33,880 Speaker 6: my question, given the even though we don't have boots 782 00:42:33,920 --> 00:42:37,360 Speaker 6: on the ground, we don't have military personnel at danger 783 00:42:38,680 --> 00:42:43,560 Speaker 6: propping up Ukraine, we are sending them billions of dollars. 784 00:42:43,800 --> 00:42:48,400 Speaker 6: We are sending them much many, many, many weapons, and 785 00:42:48,480 --> 00:42:52,160 Speaker 6: yet nobody is asking the question, how long is that 786 00:42:52,280 --> 00:42:55,839 Speaker 6: going to take? How long do we see before we 787 00:42:56,719 --> 00:42:59,839 Speaker 6: what is the strategy, what is the endgame there? Yet 788 00:43:00,000 --> 00:43:03,520 Speaker 6: all these Monday morning quarterbacks now are saying what is 789 00:43:03,600 --> 00:43:10,400 Speaker 6: the endgame with Iran? It's very simple that Iran stops 790 00:43:10,560 --> 00:43:15,160 Speaker 6: being the world's bully, stops terrorizing the Middle East, holding 791 00:43:15,239 --> 00:43:18,880 Speaker 6: a gun to the head of the Middle East oil producers, 792 00:43:19,080 --> 00:43:21,359 Speaker 6: telling them what to do, what they're going to do, 793 00:43:21,440 --> 00:43:23,719 Speaker 6: and if they don't fall in line, they will attack them. 794 00:43:24,280 --> 00:43:26,480 Speaker 6: Can you imagine if this group had a nuke what 795 00:43:26,520 --> 00:43:30,920 Speaker 6: they would do. Also, Brian Dees, who was the Director 796 00:43:30,960 --> 00:43:34,640 Speaker 6: of National Economic Council for the Biden administration, when he 797 00:43:34,840 --> 00:43:38,200 Speaker 6: was asked about gas prices and stuff, he made the 798 00:43:38,239 --> 00:43:42,760 Speaker 6: comment that this is about the future. 799 00:43:42,560 --> 00:43:45,160 Speaker 1: Of the liberal world order. 800 00:43:45,040 --> 00:43:49,600 Speaker 6: And we have to stand firm the liberal world order. 801 00:43:50,920 --> 00:43:56,600 Speaker 6: That's what you wanted unbelievable. So again you've got a 802 00:43:56,680 --> 00:44:00,319 Speaker 6: regime that is out of control, that is trying to 803 00:44:00,400 --> 00:44:06,800 Speaker 6: annihilate a sovereign country, and if they had a nuclear weapon, 804 00:44:06,920 --> 00:44:10,719 Speaker 6: they would do that. And they are being stopped finally 805 00:44:11,000 --> 00:44:13,400 Speaker 6: after the forty seven years of terror that they have 806 00:44:13,480 --> 00:44:15,920 Speaker 6: done on the Middle East. Folks, we're up against clock here. 807 00:44:16,000 --> 00:44:18,839 Speaker 6: Stay tuned for redd red Eye Radio topped the Hour. 808 00:44:19,200 --> 00:44:23,280 Speaker 6: I'm Kevin Gordon, America's Truck and Network seven hundred WLW