1 00:00:05,280 --> 00:00:08,039 Speaker 1: This is America's Trucking Network with Kevin Gordon. 2 00:00:09,920 --> 00:00:13,320 Speaker 2: Welcome aboard, Thanks for tuning in on this Friday morning. 3 00:00:13,640 --> 00:00:17,520 Speaker 2: You got some interesting economic news yesterday, initial jobless claims 4 00:00:17,600 --> 00:00:21,000 Speaker 2: and existing home sales. Later on in the program, I 5 00:00:21,040 --> 00:00:23,720 Speaker 2: want to talk about an editorial that ran in the 6 00:00:24,160 --> 00:00:30,319 Speaker 2: New York Times on Tuesday which was absolutely shocking, and 7 00:00:30,360 --> 00:00:31,760 Speaker 2: we'll get to that in a little while. 8 00:00:32,040 --> 00:00:33,519 Speaker 1: But Weekly jobless Claims. 9 00:00:33,960 --> 00:00:37,360 Speaker 2: Looking at the headlines in terms of what was said, 10 00:00:37,400 --> 00:00:40,080 Speaker 2: and you do the search and see the different headlines, 11 00:00:40,280 --> 00:00:41,560 Speaker 2: most of them pretty decent. 12 00:00:42,200 --> 00:00:42,400 Speaker 1: You know. 13 00:00:42,520 --> 00:00:45,560 Speaker 2: I think this spoon fed regurgitators in the mainstream media 14 00:00:45,600 --> 00:00:49,600 Speaker 2: are just getting tired of being wrong and kind of 15 00:00:49,680 --> 00:00:53,320 Speaker 2: downplaying things. But there's still once in a while there's 16 00:00:53,360 --> 00:00:55,400 Speaker 2: a couple of them that are trying to throw some 17 00:00:55,560 --> 00:00:59,080 Speaker 2: jabs in there. According to Reuter's, which is a story 18 00:00:59,080 --> 00:01:02,640 Speaker 2: we'll be covering, weekly jobs claims fall less than expected, 19 00:01:02,760 --> 00:01:05,880 Speaker 2: labor markets stabilizing, which is kind of unusual for them 20 00:01:05,880 --> 00:01:09,399 Speaker 2: to say, US initial this is breaking the news. US 21 00:01:09,520 --> 00:01:12,360 Speaker 2: initial job as claims came down by five thousand to 22 00:01:12,400 --> 00:01:16,280 Speaker 2: two hundred and twenty seven thousand. Trading view and see 23 00:01:16,280 --> 00:01:19,520 Speaker 2: a lot of these that they are picking, aren't your 24 00:01:19,680 --> 00:01:23,600 Speaker 2: usual like ABC, CNBC, Wall Street Journal, any of that 25 00:01:23,680 --> 00:01:26,720 Speaker 2: kind of stuff, And they're getting some of these outliers. 26 00:01:26,760 --> 00:01:30,920 Speaker 2: It's not even Yahoo Finance or whatever. Bloomberg is probably 27 00:01:30,920 --> 00:01:33,440 Speaker 2: one of the most notable. And then of course Reuters. 28 00:01:33,800 --> 00:01:37,399 Speaker 2: Bloomberg's headline was US job is claimed settled back after 29 00:01:37,480 --> 00:01:40,800 Speaker 2: severe winter weather. Again, not too bad in terms of that. 30 00:01:41,040 --> 00:01:44,160 Speaker 2: But some of these other ones, a company called Seeking Alpha, 31 00:01:44,640 --> 00:01:51,560 Speaker 2: the trading view FX Empire, some of these actually people, 32 00:01:51,920 --> 00:01:54,440 Speaker 2: you know, news agencies I really haven't heard that much about. 33 00:01:54,560 --> 00:01:56,720 Speaker 1: So let's dig into some of the numbers. Here. 34 00:01:57,480 --> 00:02:00,760 Speaker 2: US weekly jobs claims fall less than expected. Labor market 35 00:02:00,800 --> 00:02:05,720 Speaker 2: is stabilizing. That's the headline from Reuter's. Number of Americans 36 00:02:05,720 --> 00:02:09,359 Speaker 2: filing for new application for unemployment benefits decreased less than 37 00:02:09,440 --> 00:02:13,440 Speaker 2: expected last week, but the decline was consistent with economist 38 00:02:13,600 --> 00:02:17,320 Speaker 2: view that the labor market was stabilizing after hitting a 39 00:02:17,400 --> 00:02:22,040 Speaker 2: soft patch last year. Now, first of all, I'm questioning 40 00:02:22,080 --> 00:02:25,919 Speaker 2: that soft patch last year. It may have been a week, 41 00:02:26,040 --> 00:02:29,640 Speaker 2: it may have been a particular month, but it was 42 00:02:29,800 --> 00:02:32,480 Speaker 2: kind of well within the lines of what was going 43 00:02:32,520 --> 00:02:34,600 Speaker 2: on in the previous months and so on. So it 44 00:02:35,000 --> 00:02:37,320 Speaker 2: you know, they're still trying to cling on to you know, 45 00:02:37,400 --> 00:02:40,519 Speaker 2: some I guess credibility of something that they talked about 46 00:02:40,600 --> 00:02:42,840 Speaker 2: last summer that really didn't materialize. 47 00:02:42,880 --> 00:02:44,959 Speaker 1: But you know, they don't expect people to go back 48 00:02:45,000 --> 00:02:46,320 Speaker 1: and look it up. 49 00:02:47,160 --> 00:02:50,360 Speaker 2: Except for Kevin Gordon on America's truck A Network, initial 50 00:02:50,360 --> 00:02:53,400 Speaker 2: clients for state unemployment benefits dropped five thousand to a 51 00:02:53,440 --> 00:02:56,640 Speaker 2: seasonally adjusted two hundred and twenty seven thousand for the 52 00:02:56,680 --> 00:02:59,720 Speaker 2: weekend in February seventh. A labor department set on Thursday 53 00:03:00,240 --> 00:03:02,959 Speaker 2: was pulled by Rutters had forecast two hundred and twenty 54 00:03:03,000 --> 00:03:05,800 Speaker 2: two thousand, so they were off by about two percent. 55 00:03:06,280 --> 00:03:09,520 Speaker 2: Not a big deal, but not even what you would 56 00:03:09,520 --> 00:03:13,160 Speaker 2: call significant. Usually, for something to be a significant difference, 57 00:03:13,200 --> 00:03:15,200 Speaker 2: it's got to be somewhere around five percent. 58 00:03:15,440 --> 00:03:16,320 Speaker 1: Getting back to my. 59 00:03:17,960 --> 00:03:20,880 Speaker 2: Recovery well, my accounting days and now that I'm a 60 00:03:20,919 --> 00:03:24,360 Speaker 2: recovering accountant, I remember those things because generally a five 61 00:03:24,440 --> 00:03:28,600 Speaker 2: percent discrepancy was something that would catch your attention and 62 00:03:28,639 --> 00:03:32,680 Speaker 2: would be really a significant notice. So two percent isn't 63 00:03:32,720 --> 00:03:36,040 Speaker 2: that bad. Carl Weinberger, Now this is interesting. Carl Weinberg, 64 00:03:36,120 --> 00:03:40,560 Speaker 2: chief Economists for High Frequency Economics, claims are well within 65 00:03:40,880 --> 00:03:46,240 Speaker 2: recent ranges over the last two years. Okay, last year 66 00:03:46,480 --> 00:03:49,480 Speaker 2: first year of the trumpet second term of the Trump administration, 67 00:03:50,000 --> 00:03:52,920 Speaker 2: and the one year would have been the final year 68 00:03:52,960 --> 00:03:56,400 Speaker 2: of the Biden years. So this trend has been going on. 69 00:03:56,320 --> 00:03:57,440 Speaker 1: For at least two years. 70 00:03:57,600 --> 00:03:59,360 Speaker 2: I would say that it's been going on a little 71 00:03:59,360 --> 00:04:03,440 Speaker 2: bit longer than that, but that's okay. Layoffs, as reflected 72 00:04:03,480 --> 00:04:07,320 Speaker 2: in initial claims, are not signaling a weakening job market 73 00:04:07,480 --> 00:04:11,760 Speaker 2: or economic decay. The fall reserve, let me see, the 74 00:04:11,800 --> 00:04:14,720 Speaker 2: fall reversed only a fraction of the prior week's jump, 75 00:04:15,680 --> 00:04:19,279 Speaker 2: blamed on snowstorms and frigid temperatures across the country, as 76 00:04:19,320 --> 00:04:23,480 Speaker 2: well as normalization following seasonal volatility at the end of 77 00:04:23,560 --> 00:04:26,039 Speaker 2: last year. Basically, what they're saying is that you got 78 00:04:26,040 --> 00:04:30,960 Speaker 2: seasonal volatility because of companies gearing up for the holiday 79 00:04:31,040 --> 00:04:33,800 Speaker 2: season and they bring on employees towards the end of 80 00:04:33,839 --> 00:04:37,960 Speaker 2: October into November and then through the Christmas season, and 81 00:04:38,000 --> 00:04:39,960 Speaker 2: then those kind of fall off and those go by 82 00:04:40,000 --> 00:04:42,960 Speaker 2: the wayside and those temporary people or whatever get laid off, 83 00:04:43,320 --> 00:04:46,840 Speaker 2: so kind of stabilizing that. But we also had those 84 00:04:47,080 --> 00:04:49,680 Speaker 2: winter storms that came through one of the major storms, 85 00:04:50,279 --> 00:04:53,000 Speaker 2: you know, from what is a three thousand miles storm 86 00:04:53,080 --> 00:04:56,200 Speaker 2: from down there in New Mexico all the way up 87 00:04:56,240 --> 00:04:59,360 Speaker 2: to the northeast. So that has an effect in these 88 00:04:59,440 --> 00:05:02,360 Speaker 2: numbers as well. Because people can't get to work, then 89 00:05:02,360 --> 00:05:05,479 Speaker 2: that's going to be reflected in some of these numbers. 90 00:05:05,960 --> 00:05:08,720 Speaker 2: Let's see here fall reversed only a fraction of what 91 00:05:08,800 --> 00:05:11,640 Speaker 2: was going on. Claims have moved in a Now this 92 00:05:12,080 --> 00:05:15,200 Speaker 2: is interesting. They say claims have moved in a one 93 00:05:15,279 --> 00:05:18,000 Speaker 2: hundred and ninety two thousand to two hundred and thirty 94 00:05:18,000 --> 00:05:21,960 Speaker 2: seven thousand range since the end of November, which is 95 00:05:22,120 --> 00:05:28,120 Speaker 2: good because generally what is considered an acceptable range by 96 00:05:28,160 --> 00:05:31,880 Speaker 2: most economists is between two hundred and ten thousand and 97 00:05:32,000 --> 00:05:35,799 Speaker 2: two hundred and fifty thousand. So if these are moving 98 00:05:35,839 --> 00:05:38,640 Speaker 2: within a range of one ninety two to two thirty seven, 99 00:05:38,800 --> 00:05:41,280 Speaker 2: that's even better than what the norm has been over 100 00:05:41,360 --> 00:05:45,160 Speaker 2: the last four or five years. So again picking that out, 101 00:05:45,360 --> 00:05:48,799 Speaker 2: which they're not talking about but I will, that shows 102 00:05:48,839 --> 00:05:54,600 Speaker 2: that the labor market is stabilizing and getting better. Steven Stanley, 103 00:05:54,880 --> 00:06:01,279 Speaker 2: chief US economist, that's Santander US Capital Markets reading puts 104 00:06:01,320 --> 00:06:04,760 Speaker 2: initial claims right back in the vicinity that has prevailed 105 00:06:04,800 --> 00:06:10,040 Speaker 2: for three years running. Okay, one guy talking about that 106 00:06:10,120 --> 00:06:13,279 Speaker 2: the labor market was ranging in that and those numbers 107 00:06:13,279 --> 00:06:16,320 Speaker 2: were consistent with over the last two years. He's going 108 00:06:16,360 --> 00:06:19,240 Speaker 2: back even further. So you got one year of the 109 00:06:19,279 --> 00:06:22,800 Speaker 2: Trump administration the second term, and then two years the 110 00:06:23,120 --> 00:06:27,000 Speaker 2: final two years of the Biden administration. So again, these 111 00:06:27,040 --> 00:06:29,920 Speaker 2: things are improving. It looks like a stable labor market. 112 00:06:30,640 --> 00:06:33,800 Speaker 2: The numbers are improving. And again I can't emphasize enough 113 00:06:34,279 --> 00:06:37,120 Speaker 2: the latest claims right back in the vicinity it prevailed 114 00:06:37,120 --> 00:06:40,279 Speaker 2: for the last three years. Initial claims traditionally start to 115 00:06:40,320 --> 00:06:43,960 Speaker 2: settle down after President's Day, so the weekly reading should 116 00:06:44,000 --> 00:06:47,359 Speaker 2: start to get cleaner in the next few weeks. The 117 00:06:47,400 --> 00:06:50,960 Speaker 2: government reported on Wednesday that the job of growth accelerated 118 00:06:51,000 --> 00:06:53,719 Speaker 2: in January and the unemployment rate fell to four point 119 00:06:53,720 --> 00:06:57,039 Speaker 2: three percent. Actually it was news to everybody except us 120 00:06:57,080 --> 00:07:00,880 Speaker 2: here on America's truck and network, because remember in November 121 00:07:01,000 --> 00:07:03,480 Speaker 2: when that number jumped up to four point six percent. 122 00:07:03,760 --> 00:07:05,640 Speaker 2: I said that was a crappy number. It was in 123 00:07:05,680 --> 00:07:08,240 Speaker 2: the middle of the Schumer shut down, and that they 124 00:07:08,240 --> 00:07:12,120 Speaker 2: weren't getting accurate information. Then when it came out and 125 00:07:12,160 --> 00:07:14,840 Speaker 2: they said that, well, actually it wasn't four point six percent, 126 00:07:14,880 --> 00:07:17,120 Speaker 2: it was four point four percent. I said, those numbers 127 00:07:17,160 --> 00:07:19,200 Speaker 2: are going to be revised even further, and I would 128 00:07:19,240 --> 00:07:21,680 Speaker 2: have expected that to be around four point two percent, 129 00:07:21,880 --> 00:07:24,320 Speaker 2: but I'll settle for four point three because it's certainly 130 00:07:24,360 --> 00:07:26,679 Speaker 2: less than the four point four that they were claiming 131 00:07:26,680 --> 00:07:29,320 Speaker 2: that they were right about. And America's struck a Network 132 00:07:30,120 --> 00:07:32,680 Speaker 2: disagreed with that, and we were more right than they were. 133 00:07:33,160 --> 00:07:35,880 Speaker 2: But revision show the labor market almost stalled last year, 134 00:07:36,040 --> 00:07:39,520 Speaker 2: with job growth averaging around fifteen thousand per month, got 135 00:07:39,520 --> 00:07:42,760 Speaker 2: them to say trade and immigration policies are constraining the 136 00:07:42,840 --> 00:07:46,640 Speaker 2: labor market, but the optimistic employment growth will pick up 137 00:07:46,640 --> 00:07:50,680 Speaker 2: this year partly because of tax cuts, and that is 138 00:07:50,760 --> 00:07:54,680 Speaker 2: extremely important when those tax cuts start coming in and 139 00:07:54,760 --> 00:07:56,880 Speaker 2: it's going to not only benefit and of course that 140 00:07:57,000 --> 00:08:01,280 Speaker 2: is because in the one Big, Beautile full bill making 141 00:08:01,360 --> 00:08:05,240 Speaker 2: the tax cuts from the first Trump administration, first Trump term, 142 00:08:05,720 --> 00:08:09,000 Speaker 2: those tax cuts that went into effect then had a 143 00:08:09,240 --> 00:08:12,440 Speaker 2: sunshine view that it was going to expire this year 144 00:08:12,960 --> 00:08:15,640 Speaker 2: or were actually last year in twenty twenty five. And so 145 00:08:15,760 --> 00:08:18,440 Speaker 2: the fact that they were actually able to pass that 146 00:08:18,480 --> 00:08:22,840 Speaker 2: one Big Beautiful Bill, which then codified those tax cuts, 147 00:08:22,960 --> 00:08:25,960 Speaker 2: which makes them permanent as opposed to temporary tax cuts. 148 00:08:26,120 --> 00:08:27,680 Speaker 1: That is going to benefit people. 149 00:08:27,840 --> 00:08:31,239 Speaker 2: And they're already talking about how the average tax return 150 00:08:31,320 --> 00:08:33,640 Speaker 2: people are going to see it at least or somewhere 151 00:08:33,679 --> 00:08:36,400 Speaker 2: around an average of about one thousand dollars more in 152 00:08:36,480 --> 00:08:40,440 Speaker 2: their tax refund. Now with small businesses, the key thing 153 00:08:40,559 --> 00:08:43,240 Speaker 2: is with small businesses is that when you're talking about 154 00:08:43,280 --> 00:08:47,319 Speaker 2: small businesses, those are generally done by what they call 155 00:08:47,360 --> 00:08:51,640 Speaker 2: an s corporation, which is similar to a partnership. It's 156 00:08:51,679 --> 00:08:55,000 Speaker 2: got some of the benefits of being a corporation, but 157 00:08:55,120 --> 00:08:57,920 Speaker 2: also the benefits of being a partnership where a lot 158 00:08:57,960 --> 00:09:01,280 Speaker 2: of the profits flow through to the individual owner of 159 00:09:01,320 --> 00:09:04,800 Speaker 2: that and they report that on their income tax as income. 160 00:09:05,160 --> 00:09:09,120 Speaker 2: So with that having an effect, with the income tax 161 00:09:09,200 --> 00:09:12,520 Speaker 2: rates coming down, they will have more money to reinvest 162 00:09:12,559 --> 00:09:17,920 Speaker 2: in their company and possibly move towards expanding the company 163 00:09:18,240 --> 00:09:21,240 Speaker 2: or building on or hiring employees and one of the 164 00:09:21,320 --> 00:09:23,960 Speaker 2: other things they're talking about partly because of the tax cuts, 165 00:09:24,400 --> 00:09:27,280 Speaker 2: But I still want to emphasize the fact that interest 166 00:09:27,360 --> 00:09:29,720 Speaker 2: rates need to come down. I can't talk about this 167 00:09:29,960 --> 00:09:33,000 Speaker 2: enough saying that interest rates that we're paying here are 168 00:09:33,000 --> 00:09:36,840 Speaker 2: about two percent higher than what the other Western countries 169 00:09:36,880 --> 00:09:39,240 Speaker 2: are paying in their interest rates. 170 00:09:39,640 --> 00:09:41,280 Speaker 1: And as far as mortgages. 171 00:09:40,840 --> 00:09:43,000 Speaker 2: Are concerned, we are about one and a half to 172 00:09:43,040 --> 00:09:45,439 Speaker 2: two percent higher than what other people are paying on 173 00:09:45,480 --> 00:09:47,840 Speaker 2: their mortgages. And we'll get to that in the existing 174 00:09:47,880 --> 00:09:50,199 Speaker 2: home sales stuff coming up. Got a little bit more 175 00:09:50,200 --> 00:09:51,760 Speaker 2: to talk about on this, and we'll pick this up. 176 00:09:51,880 --> 00:10:00,200 Speaker 2: I'm Kevin Gordon, America's Trucking Network seven hundred WLW. I'm 177 00:10:00,320 --> 00:10:04,000 Speaker 2: Kevin Gordon, america struck a Network, seven hundred W LW, 178 00:10:04,400 --> 00:10:08,360 Speaker 2: wrapping up this discussion on US Weekly Jobless Claims. It's 179 00:10:08,360 --> 00:10:10,640 Speaker 2: interesting if you go into some of these numbers and 180 00:10:10,679 --> 00:10:13,559 Speaker 2: some of these comments. Some economists, however, so now again 181 00:10:13,800 --> 00:10:15,800 Speaker 2: you gotta you know, they always have to throw in 182 00:10:15,880 --> 00:10:18,600 Speaker 2: the negativity and some of the things that people are 183 00:10:18,679 --> 00:10:23,360 Speaker 2: not optimistic about. But we'll just cover and talk about this. 184 00:10:23,360 --> 00:10:26,800 Speaker 2: This is a guy by named Samuel Tomes. Tombs rather, 185 00:10:27,160 --> 00:10:31,800 Speaker 2: he is a US chief US economist at Pantheon Macroeconomics. 186 00:10:32,040 --> 00:10:35,560 Speaker 2: You know, Pantheon Macroeconomics. I'm gonna look into that company 187 00:10:35,600 --> 00:10:39,240 Speaker 2: a little bit because it seems whenever there's negativity, negative 188 00:10:39,320 --> 00:10:42,800 Speaker 2: quotes as far as any economic stuff, it's usually somebody 189 00:10:42,840 --> 00:10:45,760 Speaker 2: from that company that is quoted, and of course today 190 00:10:45,840 --> 00:10:51,200 Speaker 2: is nothing different. According to Samuel Tom, Toms spelled t 191 00:10:51,360 --> 00:10:57,000 Speaker 2: O t O mbs so Tooms, Well, we won't comment 192 00:10:57,040 --> 00:11:01,400 Speaker 2: on that. Jobless claims suggest that per market remains just 193 00:11:01,480 --> 00:11:04,880 Speaker 2: as subdued as last year, casting further doubt over the 194 00:11:04,920 --> 00:11:09,560 Speaker 2: sustainability of January's reported jump in payrolls, even though payrolls 195 00:11:09,640 --> 00:11:12,560 Speaker 2: jumped in January when everybody thought they were you know, 196 00:11:12,720 --> 00:11:15,760 Speaker 2: remember the number came in at what one hundred and 197 00:11:15,800 --> 00:11:19,480 Speaker 2: thirty two thousand, something along those lines, and they were 198 00:11:20,080 --> 00:11:23,120 Speaker 2: one hundred and fifty five thousand, and they had expected 199 00:11:24,080 --> 00:11:29,360 Speaker 2: the rate to come in at fifty five thousand, and 200 00:11:29,440 --> 00:11:32,040 Speaker 2: so they were two and a half times off of 201 00:11:32,080 --> 00:11:34,800 Speaker 2: that number. And of course with it being off, it 202 00:11:34,880 --> 00:11:38,560 Speaker 2: can't be that things are getting better. No, it's just that, oh, 203 00:11:38,640 --> 00:11:40,679 Speaker 2: that number is not sustainable. I think the number was 204 00:11:40,720 --> 00:11:45,320 Speaker 2: one hundred and thirty thousand new jobs versus the fifty 205 00:11:45,320 --> 00:11:48,760 Speaker 2: five that people had expected, so again about two and 206 00:11:48,800 --> 00:11:52,480 Speaker 2: a half times what they had normally expected. But of course, 207 00:11:52,520 --> 00:11:54,160 Speaker 2: you know, don't let good news get in the way 208 00:11:54,200 --> 00:11:56,839 Speaker 2: of a bad story or something along those lines. 209 00:11:57,080 --> 00:12:01,320 Speaker 1: With some of these people. The prognosticator should we say, number. 210 00:12:01,080 --> 00:12:04,680 Speaker 2: Of people receiving unemployment benefits after the initial week of aid, 211 00:12:05,040 --> 00:12:08,560 Speaker 2: a proxy for hiring, increased by twenty one thousand to 212 00:12:08,600 --> 00:12:12,200 Speaker 2: a seasonally adjusted one point eight six two million during 213 00:12:12,200 --> 00:12:15,080 Speaker 2: the weekend of January, the thirty first the Claims report 214 00:12:15,120 --> 00:12:19,000 Speaker 2: show so called continuing claims have also been impacted by 215 00:12:19,080 --> 00:12:25,560 Speaker 2: seasonal volatility. Seasonal volatility being again the holiday season, companies 216 00:12:25,559 --> 00:12:29,559 Speaker 2: gearing up hiring more employees to take on the Christmas 217 00:12:29,640 --> 00:12:31,920 Speaker 2: rush and then laying those people off or letting those 218 00:12:31,960 --> 00:12:36,640 Speaker 2: people go after the holidays. Though fewer people experience longerabouts 219 00:12:36,640 --> 00:12:41,360 Speaker 2: of unemployment in January, the media duration of jobless joblessness 220 00:12:41,400 --> 00:12:45,560 Speaker 2: remained near levels last seen four years ago. Recent college 221 00:12:45,600 --> 00:12:48,760 Speaker 2: graduates are having a tough time finding jobs now. The 222 00:12:48,800 --> 00:12:51,400 Speaker 2: one thing they don't dig into here on this, and 223 00:12:51,440 --> 00:12:53,960 Speaker 2: I'd be very curious as to that, is that the 224 00:12:54,040 --> 00:12:56,400 Speaker 2: people that are graduating from college and they're having a 225 00:12:56,400 --> 00:12:58,319 Speaker 2: difficult time finding a job. 226 00:12:58,440 --> 00:13:00,520 Speaker 1: What was their major? What did they say study? 227 00:13:01,360 --> 00:13:04,040 Speaker 2: Is it something that's applicable to the business world, or 228 00:13:04,040 --> 00:13:07,920 Speaker 2: was it some sort of a philosophical or some sort 229 00:13:07,920 --> 00:13:11,439 Speaker 2: of basically, what they talk about useless degrees that don't 230 00:13:11,480 --> 00:13:14,720 Speaker 2: really apply in the business world. So if they don't 231 00:13:14,720 --> 00:13:18,360 Speaker 2: have the qualifications, which if when we talked about that 232 00:13:18,640 --> 00:13:22,800 Speaker 2: National Federation of Independent Business Survey, the Optimistic Survey the 233 00:13:22,840 --> 00:13:26,280 Speaker 2: other day, and every month for the last six months, 234 00:13:26,320 --> 00:13:28,760 Speaker 2: I believe they've been talking about one of the things 235 00:13:28,760 --> 00:13:32,719 Speaker 2: the biggest concern for them is actually finding finding qualified 236 00:13:32,760 --> 00:13:36,320 Speaker 2: employees to fill the positions that they have open. So 237 00:13:36,760 --> 00:13:40,520 Speaker 2: if the people are unqualified, is it in unqualified because 238 00:13:40,559 --> 00:13:43,560 Speaker 2: of the skills necessary to handle those jobs, or could 239 00:13:43,559 --> 00:13:48,000 Speaker 2: it be the academic academic discipline that these people are studying, 240 00:13:48,280 --> 00:13:50,640 Speaker 2: or that they just don't have the academic skills to 241 00:13:50,720 --> 00:13:54,080 Speaker 2: do certain tasks in the business world. So it's interesting 242 00:13:54,120 --> 00:13:58,600 Speaker 2: that they don't even mention that. Let's see another company 243 00:13:58,880 --> 00:14:03,480 Speaker 2: seeking alpha there information was pretty much straightforward. Jobless claims 244 00:14:03,480 --> 00:14:06,440 Speaker 2: decrease five to two hundred and twenty seven thousand, they 245 00:14:06,480 --> 00:14:10,160 Speaker 2: talked about then the continuing claims and so on. So again, 246 00:14:10,600 --> 00:14:14,040 Speaker 2: all this is within that relative range. And again if 247 00:14:14,040 --> 00:14:16,400 Speaker 2: the acceptable range of the sweet spot that they've been 248 00:14:16,440 --> 00:14:19,280 Speaker 2: talking about is somewhere between two hundred and ten thousand 249 00:14:19,400 --> 00:14:23,480 Speaker 2: jobs jobless. Initial jobless claims from two hundred and ten 250 00:14:23,480 --> 00:14:25,960 Speaker 2: thousand up to two hundred and fifty thousand. If the 251 00:14:26,040 --> 00:14:28,920 Speaker 2: numbers are now between one hundred and ninety two and 252 00:14:29,000 --> 00:14:31,640 Speaker 2: two hundred and thirty seven, that is well within that 253 00:14:31,760 --> 00:14:33,800 Speaker 2: range and actually well below that range. 254 00:14:33,920 --> 00:14:34,880 Speaker 1: So that's some. 255 00:14:35,000 --> 00:14:37,560 Speaker 2: Very good news there as far as the economy and 256 00:14:37,600 --> 00:14:41,400 Speaker 2: looking up again, when these tax cuts start taking into effect, 257 00:14:41,600 --> 00:14:44,720 Speaker 2: small businesses then take a look at what they are earning, 258 00:14:45,000 --> 00:14:47,080 Speaker 2: what their needs are going to be in the coming year, 259 00:14:47,480 --> 00:14:52,520 Speaker 2: and possibly doing some expansion. Again that National Federation of 260 00:14:52,520 --> 00:14:56,560 Speaker 2: Independent Businesses, they were talking about a goodly percentage of them, 261 00:14:56,800 --> 00:15:01,800 Speaker 2: we're talking about expanding their expanding their business, doing some 262 00:15:01,840 --> 00:15:04,160 Speaker 2: capital improvements. And so as a matter of fact, I 263 00:15:04,200 --> 00:15:06,200 Speaker 2: believe the number they talked about was over the last 264 00:15:06,240 --> 00:15:09,240 Speaker 2: six months sixty percent of them had done that. And 265 00:15:09,280 --> 00:15:12,680 Speaker 2: so if that continues, then that will be bode well, 266 00:15:12,760 --> 00:15:16,000 Speaker 2: and especially if interest rates come down. If lione Jerry Powell, 267 00:15:16,880 --> 00:15:19,720 Speaker 2: he can't he can't leave the Fed soon enough, He 268 00:15:19,800 --> 00:15:22,360 Speaker 2: leaves in May, his contract is up, his term is 269 00:15:22,440 --> 00:15:26,160 Speaker 2: up in May, and Donald Trump has already mentioned who 270 00:15:26,240 --> 00:15:29,120 Speaker 2: he wants to have replace him, and it'll be interesting 271 00:15:29,160 --> 00:15:31,800 Speaker 2: to see how that pans out. That guy needs to 272 00:15:31,800 --> 00:15:33,600 Speaker 2: be confirmed, and they need to get on with this 273 00:15:33,960 --> 00:15:36,000 Speaker 2: so that people can have a little bit more stability 274 00:15:36,040 --> 00:15:39,120 Speaker 2: as far as what they expect interest rates to be. Again, 275 00:15:39,440 --> 00:15:44,480 Speaker 2: interest rates need to come down. Existing home sales dropped 276 00:15:44,520 --> 00:15:48,320 Speaker 2: to more than a two year low in January. Existing 277 00:15:48,320 --> 00:15:50,520 Speaker 2: home sales tumbled to the lowest levels of more than 278 00:15:50,560 --> 00:15:55,920 Speaker 2: two years in January, as falling inventory raised housing prices. Well, again, 279 00:15:55,960 --> 00:15:58,560 Speaker 2: when you look at the weather in January, January is 280 00:15:58,640 --> 00:16:01,280 Speaker 2: never a really good year, good month in order to 281 00:16:01,320 --> 00:16:04,080 Speaker 2: go looking for a house, especially in the northern part 282 00:16:04,120 --> 00:16:06,960 Speaker 2: of the country, when you look at the different snowstorms, 283 00:16:07,080 --> 00:16:10,000 Speaker 2: and when you look at that extended storm that we 284 00:16:10,080 --> 00:16:12,440 Speaker 2: had that I talked about in the previous segment that 285 00:16:12,560 --> 00:16:15,320 Speaker 2: went from New Mexico all the way up to the 286 00:16:15,360 --> 00:16:18,960 Speaker 2: New England area, a three thousand mile long storm that 287 00:16:19,080 --> 00:16:23,160 Speaker 2: impacted pretty much most someone like forty states were affected 288 00:16:23,200 --> 00:16:27,040 Speaker 2: by that particular storm, as far south as Florida, some 289 00:16:27,080 --> 00:16:33,040 Speaker 2: of the Gulf of America states down there as well, Texas, Arizona, 290 00:16:33,080 --> 00:16:36,000 Speaker 2: et cetera. So again, that's going to put a crimp 291 00:16:36,040 --> 00:16:37,800 Speaker 2: on people going to go out and buy a house 292 00:16:37,840 --> 00:16:39,960 Speaker 2: if they're having a trudge through snow to do it. 293 00:16:40,160 --> 00:16:43,160 Speaker 2: Home sales dropped eight point four percent last month to 294 00:16:43,200 --> 00:16:46,440 Speaker 2: a seasonally adjusted annual rate of three point nine to 295 00:16:46,560 --> 00:16:50,280 Speaker 2: one million units, the lowest level since December of twenty 296 00:16:50,360 --> 00:16:55,000 Speaker 2: twenty three, according to National Association Realtors. Economists polled by 297 00:16:55,040 --> 00:16:57,840 Speaker 2: Reuters had forecast home sales declining to a rate of 298 00:16:58,600 --> 00:17:01,560 Speaker 2: four point one point eight million, so they were off 299 00:17:01,600 --> 00:17:05,399 Speaker 2: by about six percent on their estimates. There last month's 300 00:17:05,400 --> 00:17:09,280 Speaker 2: sales likely reflected contrasts that were contracts that were signed 301 00:17:09,280 --> 00:17:13,080 Speaker 2: in November and December and would not have impacted by 302 00:17:13,160 --> 00:17:16,879 Speaker 2: winter storms that slam large parts of the country in January, 303 00:17:17,119 --> 00:17:20,320 Speaker 2: home sales decreased by four point four percent. Now, when 304 00:17:20,359 --> 00:17:25,560 Speaker 2: they say they that the last month's sales likely reflected, 305 00:17:26,040 --> 00:17:30,399 Speaker 2: some of them did, but some of them didn't. Lawrence Young, 306 00:17:30,840 --> 00:17:35,960 Speaker 2: the National Association Realtor's chief economists, said in a statement, 307 00:17:36,280 --> 00:17:41,280 Speaker 2: decrease in sales is disappointing. Affordability conditions are improving due 308 00:17:41,320 --> 00:17:47,600 Speaker 2: to wage gains paid outpacing home price growth, and he's 309 00:17:47,680 --> 00:17:50,000 Speaker 2: not mentioning in here. What we saw the other day 310 00:17:50,440 --> 00:17:54,800 Speaker 2: was that wage growth is outpacing inflation as well. He 311 00:17:54,840 --> 00:17:59,000 Speaker 2: didn't mention that here. But that's another thing that's tying 312 00:17:59,040 --> 00:18:04,360 Speaker 2: into affordability. Wage gains outpacing home price growth and mortgage 313 00:18:04,440 --> 00:18:07,720 Speaker 2: rates being lower than a year ago. However, supply has 314 00:18:07,760 --> 00:18:10,760 Speaker 2: not kept pace with and remains quite low. 315 00:18:11,200 --> 00:18:11,440 Speaker 1: Well. 316 00:18:11,440 --> 00:18:13,600 Speaker 2: Again, this is a continuing thing that if you've got 317 00:18:13,640 --> 00:18:19,760 Speaker 2: people that during the pandemic that went out and either 318 00:18:19,800 --> 00:18:22,720 Speaker 2: bought a new house because they are now working from 319 00:18:22,760 --> 00:18:24,879 Speaker 2: home and the house that they were in was a 320 00:18:24,920 --> 00:18:28,000 Speaker 2: little bit too small to have two people working from 321 00:18:28,000 --> 00:18:31,159 Speaker 2: home at the same time and to have an office 322 00:18:31,160 --> 00:18:33,760 Speaker 2: space in there for two people. They a lot of 323 00:18:33,760 --> 00:18:37,160 Speaker 2: people moved during that period of time or did renovations 324 00:18:37,160 --> 00:18:39,560 Speaker 2: on their home, And if they're at an interest rate 325 00:18:39,640 --> 00:18:42,560 Speaker 2: at below three percent, they're sure as heck not going 326 00:18:42,600 --> 00:18:45,600 Speaker 2: to sell that house and move into something that is 327 00:18:46,640 --> 00:18:50,719 Speaker 2: six percent or thereabouts. That would basically be doubling the 328 00:18:50,760 --> 00:18:54,040 Speaker 2: interest rate that they're currently paying. So they're not going 329 00:18:54,080 --> 00:18:55,840 Speaker 2: to put their houses up for sale. They're going to 330 00:18:55,840 --> 00:18:59,760 Speaker 2: take a second thought about you think twice about g whiz, 331 00:18:59,800 --> 00:19:01,320 Speaker 2: do I want to move to a different house? Do 332 00:19:01,400 --> 00:19:03,480 Speaker 2: I want to move to a different location, and then 333 00:19:03,680 --> 00:19:06,720 Speaker 2: take that interest rate increase. One of the interesting things 334 00:19:06,760 --> 00:19:10,840 Speaker 2: that have been proposed is some sort of a portability 335 00:19:11,200 --> 00:19:14,000 Speaker 2: for your interest rate that if you have a current 336 00:19:14,080 --> 00:19:16,840 Speaker 2: interest rate and you move to a different house, that 337 00:19:16,840 --> 00:19:19,679 Speaker 2: that interest rate follows you. I'm not sure how that 338 00:19:19,720 --> 00:19:22,760 Speaker 2: would implicate. I don't know how that would transform. I 339 00:19:22,760 --> 00:19:25,760 Speaker 2: don't know how that would come together that you could 340 00:19:25,760 --> 00:19:28,359 Speaker 2: do that, but it would be an interesting concept if 341 00:19:28,359 --> 00:19:30,480 Speaker 2: people could do that, that might free up a little 342 00:19:30,480 --> 00:19:33,399 Speaker 2: bit of inventory for people out there and then get 343 00:19:33,600 --> 00:19:37,199 Speaker 2: more younger buyers back into the market. We'll pick this 344 00:19:37,280 --> 00:19:39,960 Speaker 2: up a little bit coming up. I'm Kevin Gordon, America's 345 00:19:40,000 --> 00:19:42,800 Speaker 2: Trucking Network, seven hundred w LW. 346 00:19:45,960 --> 00:19:48,280 Speaker 3: Here's your trucking forecast for the Try State and the 347 00:19:48,280 --> 00:19:50,639 Speaker 3: rest of the country and the Try State. Overnight mostly 348 00:19:50,640 --> 00:19:52,760 Speaker 3: clear with some patchi fog the low down to twenty 349 00:19:52,760 --> 00:19:56,280 Speaker 3: four early patche fog Friday, otherwise sunny behind your fifty 350 00:19:56,400 --> 00:19:59,760 Speaker 3: partly sunny Saturday high of fifty four. Rain develops overnight 351 00:19:59,800 --> 00:20:01,760 Speaker 3: and ti to Sunday, coming to an end by Sunday 352 00:20:01,800 --> 00:20:04,560 Speaker 3: afternoon with the high of fifty two. Nationally, the south 353 00:20:04,600 --> 00:20:08,320 Speaker 3: and southeast expected to see widespread precipitation this weekend. Meanwhile, 354 00:20:08,400 --> 00:20:12,600 Speaker 3: higher elevation snowshowers forecast for the Interior West and Pacific Northwest. 355 00:20:12,680 --> 00:20:15,840 Speaker 3: Across the plains, temperatures well above average. 356 00:20:15,840 --> 00:20:19,879 Speaker 2: Seven hundred WLW on Kevin Gordon is as America Struck 357 00:20:19,880 --> 00:20:23,320 Speaker 2: on network. We're talking about existing home sales dropped to 358 00:20:23,359 --> 00:20:26,560 Speaker 2: more than a two year low in January. Again, some 359 00:20:26,680 --> 00:20:29,000 Speaker 2: of the comments in there is fact that it could 360 00:20:29,040 --> 00:20:33,560 Speaker 2: possibly be some of the homes and would reflect the 361 00:20:33,600 --> 00:20:37,040 Speaker 2: homes that were under contract in November and December and 362 00:20:37,119 --> 00:20:40,840 Speaker 2: wouldn't take into consideration during the storm. But some of 363 00:20:40,840 --> 00:20:45,280 Speaker 2: those do apply to what happened during the storms in January. 364 00:20:45,359 --> 00:20:49,399 Speaker 2: So again, I guess it'll take us probably next month 365 00:20:49,400 --> 00:20:52,119 Speaker 2: to see if that irons out and see if that 366 00:20:52,200 --> 00:20:55,399 Speaker 2: levels out as a result of the winter storm. But again, 367 00:20:55,760 --> 00:20:58,639 Speaker 2: when you look at the way housing prices go and 368 00:20:58,680 --> 00:21:02,439 Speaker 2: when people go into the market, it's generally at the 369 00:21:02,560 --> 00:21:06,439 Speaker 2: end of the of the school year. Was because they 370 00:21:06,440 --> 00:21:08,840 Speaker 2: don't want to just rup kids. I mean, you know, 371 00:21:08,840 --> 00:21:11,000 Speaker 2: if you're in the middle of the school year, that's 372 00:21:11,040 --> 00:21:13,199 Speaker 2: not a time to be going out looking at homes 373 00:21:13,440 --> 00:21:16,560 Speaker 2: and moving and then uprooting your kids from one school 374 00:21:16,560 --> 00:21:19,000 Speaker 2: and going into another. So usually at the end of 375 00:21:19,000 --> 00:21:20,919 Speaker 2: the school year is one that starts picking up in 376 00:21:20,960 --> 00:21:23,680 Speaker 2: the spring, you know, not only with school being out, 377 00:21:23,720 --> 00:21:26,920 Speaker 2: but also a lot better weather and a lot more 378 00:21:26,960 --> 00:21:29,960 Speaker 2: flexibility in terms of longer time as far as the 379 00:21:30,520 --> 00:21:34,320 Speaker 2: daylight and so on, so people can be driving around 380 00:21:34,480 --> 00:21:37,960 Speaker 2: looking at different neighborhoods and stuff, which prompts people to 381 00:21:38,040 --> 00:21:41,159 Speaker 2: go out and possibly buy a home. So again, the 382 00:21:41,200 --> 00:21:44,199 Speaker 2: springtime is generally a better time to be looking for homes. 383 00:21:44,320 --> 00:21:46,480 Speaker 2: You certainly don't want to do that treading through snow 384 00:21:46,520 --> 00:21:49,000 Speaker 2: and whatever. So again, you know, and again with a 385 00:21:49,080 --> 00:21:51,320 Speaker 2: holiday season as well. When you know, when you get 386 00:21:51,359 --> 00:21:54,320 Speaker 2: to the end of October with Halloween and then you're 387 00:21:54,480 --> 00:21:57,640 Speaker 2: quickly right after that into Thanksgiving, and then right after 388 00:21:57,680 --> 00:22:00,720 Speaker 2: Thanksgiving on into Christmas and New Year and so on, 389 00:22:01,840 --> 00:22:03,840 Speaker 2: you know, that would be a very rough time for 390 00:22:03,920 --> 00:22:06,679 Speaker 2: people to actually get out and decide that they're going 391 00:22:06,720 --> 00:22:08,000 Speaker 2: to start looking for a new home. 392 00:22:08,119 --> 00:22:08,239 Speaker 1: Now. 393 00:22:08,280 --> 00:22:11,120 Speaker 2: Again, if you're transferred and you have to, that's one thing, 394 00:22:11,359 --> 00:22:13,399 Speaker 2: but just kind of like oh, we want to upgrade 395 00:22:13,440 --> 00:22:15,000 Speaker 2: or we want to get a better home, and we 396 00:22:15,000 --> 00:22:16,639 Speaker 2: want to move to a bigger home or a smaller 397 00:22:16,640 --> 00:22:20,119 Speaker 2: home or whatever. Again, during the holiday season is not 398 00:22:20,160 --> 00:22:20,840 Speaker 2: the best time. 399 00:22:20,720 --> 00:22:24,600 Speaker 1: To do that. The NRA and are. 400 00:22:24,800 --> 00:22:29,040 Speaker 2: The National Associated Realtors Housing Affordability Index increased to one 401 00:22:29,200 --> 00:22:32,639 Speaker 2: sixteen point five in January, the highest since March of 402 00:22:32,680 --> 00:22:35,240 Speaker 2: twenty twenty two. Now, what was going on in March 403 00:22:35,280 --> 00:22:38,320 Speaker 2: of twenty twenty two. It was the end of the pandemic. 404 00:22:38,640 --> 00:22:41,399 Speaker 2: People were getting out, they were getting back to work. 405 00:22:41,600 --> 00:22:43,520 Speaker 2: They were taking a look at where they were living, 406 00:22:44,160 --> 00:22:47,640 Speaker 2: taking into consideration the fact that while they were involved 407 00:22:47,680 --> 00:22:51,440 Speaker 2: in the plandemic, they were able to work remotely, and 408 00:22:51,480 --> 00:22:54,920 Speaker 2: they were working from home. And so once that got 409 00:22:54,960 --> 00:22:58,480 Speaker 2: to be permanent and they realized that, well, the companies 410 00:22:58,480 --> 00:23:00,639 Speaker 2: are not really going to call them back into the 411 00:23:00,680 --> 00:23:03,639 Speaker 2: office or likely to call them back in the office, 412 00:23:03,760 --> 00:23:07,040 Speaker 2: they looked at that and said, gee, whiz, if I'm 413 00:23:07,080 --> 00:23:09,639 Speaker 2: working from home, wouldn't it be better if I was 414 00:23:09,680 --> 00:23:11,840 Speaker 2: working for home in a warmer climate or in a 415 00:23:11,840 --> 00:23:14,800 Speaker 2: different area, maybe a resort area. Some of the areas 416 00:23:14,840 --> 00:23:20,119 Speaker 2: around Denver became very popular. Florida became popular, Tucson, Arizona 417 00:23:20,200 --> 00:23:24,800 Speaker 2: became very popular, as well as places in Texas as well. 418 00:23:25,080 --> 00:23:27,600 Speaker 2: So people moving out of the Northeast or moving out 419 00:23:27,640 --> 00:23:30,800 Speaker 2: of California or wherever moving into areas that are more 420 00:23:30,880 --> 00:23:34,000 Speaker 2: desirable for them to live and raise a family. So 421 00:23:34,359 --> 00:23:38,720 Speaker 2: back in twenty twenty two, people were moving and getting 422 00:23:38,720 --> 00:23:43,520 Speaker 2: out the field and moving into and looking at homes 423 00:23:43,560 --> 00:23:46,199 Speaker 2: and buying homes. So the fact that we're in that 424 00:23:46,280 --> 00:23:49,840 Speaker 2: affordability range from March to twenty twenty two, again the 425 00:23:49,880 --> 00:23:53,199 Speaker 2: tail end of when people were getting those stimulus checks 426 00:23:53,640 --> 00:23:57,720 Speaker 2: and the unemployment and then getting back to work, those 427 00:23:57,800 --> 00:24:00,359 Speaker 2: numbers they were making a little bit more MOE at 428 00:24:00,359 --> 00:24:04,119 Speaker 2: that point, and the affordability of homes came down considerably. 429 00:24:05,119 --> 00:24:09,640 Speaker 2: Mortgage rates have declined as the Federal Housing Finance Administration, 430 00:24:09,920 --> 00:24:12,960 Speaker 2: which oversees mortgage finance giants Fannie May and Freddie Mack, 431 00:24:13,240 --> 00:24:16,720 Speaker 2: started buying bonds issued to the two companies, though progress 432 00:24:16,840 --> 00:24:21,720 Speaker 2: was stalled. Mortgage rates tracked the benchmark ten year Treasury notes, 433 00:24:21,760 --> 00:24:24,280 Speaker 2: So if you hear that phrase out there, if you're 434 00:24:24,320 --> 00:24:26,120 Speaker 2: listening to the news and they talk about ten year 435 00:24:26,160 --> 00:24:29,239 Speaker 2: treasury notes, you can see how that will track and 436 00:24:29,320 --> 00:24:32,320 Speaker 2: what mortgage rates will be because they're generally tied to 437 00:24:32,359 --> 00:24:35,240 Speaker 2: that number. The inventory of existing homes fell by point 438 00:24:35,320 --> 00:24:40,000 Speaker 2: eight percent to one point two one million, two hundred 439 00:24:40,040 --> 00:24:43,320 Speaker 2: and twenty million units two hundred and twenty two million units. 440 00:24:43,960 --> 00:24:47,800 Speaker 2: Supply was three point four percent, was up three point 441 00:24:47,880 --> 00:24:51,120 Speaker 2: four percent from a year ago. As January sales pace, 442 00:24:51,200 --> 00:24:54,800 Speaker 2: it would take three point seven months to exhaust the 443 00:24:54,840 --> 00:24:58,439 Speaker 2: current inventory, when last year it was around three point 444 00:24:58,520 --> 00:25:01,960 Speaker 2: five months, So again not too much of a difference there. 445 00:25:02,240 --> 00:25:06,040 Speaker 2: The median existing home price last month rose zero point 446 00:25:06,160 --> 00:25:08,720 Speaker 2: nine percent from a year ago to three hundred and 447 00:25:08,760 --> 00:25:12,520 Speaker 2: ninety six thousand, eight hundred. Now, earlier in the year 448 00:25:13,000 --> 00:25:15,600 Speaker 2: that number, we were seeing numbers somewhere in the neighborhood 449 00:25:15,600 --> 00:25:19,199 Speaker 2: of four hundred and twenty five thousand thereabout, and so 450 00:25:19,359 --> 00:25:22,400 Speaker 2: with it being down around three hundred and ninety six thousand, 451 00:25:22,720 --> 00:25:25,680 Speaker 2: that's moving in the right direction, especially for first time 452 00:25:25,720 --> 00:25:28,840 Speaker 2: home buyers. Median days on the market for listing properties 453 00:25:28,840 --> 00:25:32,359 Speaker 2: increased to forty six days from forty one a year ago. 454 00:25:32,480 --> 00:25:36,119 Speaker 2: Again not a major difference there. First time home buyers 455 00:25:36,160 --> 00:25:39,200 Speaker 2: accounted for thirty one percent of the sales, up from 456 00:25:39,240 --> 00:25:42,280 Speaker 2: twenty eight percent a year ago. Imagine if we had 457 00:25:42,320 --> 00:25:45,879 Speaker 2: interest rates down a point down to five percent or 458 00:25:45,920 --> 00:25:48,320 Speaker 2: even four and a half percent, how many more people 459 00:25:48,320 --> 00:25:51,600 Speaker 2: could afford homes, How many more young people could then 460 00:25:51,680 --> 00:25:55,280 Speaker 2: take the plunge into owning a home, we would see 461 00:25:55,440 --> 00:25:58,760 Speaker 2: a rapid increase in that, which would be a good thing. 462 00:25:58,840 --> 00:26:01,240 Speaker 2: But of course we needy at the Federal Reserve to 463 00:26:01,280 --> 00:26:04,400 Speaker 2: start lowering interest rates, which if you've heard that before, 464 00:26:05,880 --> 00:26:09,359 Speaker 2: well because I've said it, economists and realtors say forty 465 00:26:09,359 --> 00:26:11,880 Speaker 2: percent of the share of the category is needed. They're 466 00:26:11,920 --> 00:26:15,399 Speaker 2: saying that forty percent share in this category is needed 467 00:26:15,640 --> 00:26:20,919 Speaker 2: for a robust housing market. All cash sales constituted twenty 468 00:26:21,000 --> 00:26:24,520 Speaker 2: seven percent of the transactions, down from twenty nine percent 469 00:26:24,640 --> 00:26:27,680 Speaker 2: a year ago. So again looking at that, saying that 470 00:26:27,760 --> 00:26:30,080 Speaker 2: if they're thirty one percent of the sales were first 471 00:26:30,119 --> 00:26:34,439 Speaker 2: time home buyers, and for a robust housing market to 472 00:26:34,480 --> 00:26:37,680 Speaker 2: be around forty percent, there needs to be some changes there, 473 00:26:37,760 --> 00:26:40,640 Speaker 2: and again that has to do with interest rates. Distress 474 00:26:40,720 --> 00:26:45,600 Speaker 2: sales including foreclosures made up two percent of the transactions, 475 00:26:45,960 --> 00:26:49,920 Speaker 2: down from three percent last year, so a third less 476 00:26:49,960 --> 00:26:53,080 Speaker 2: than last year, which means that there's fewer homes that 477 00:26:53,160 --> 00:26:56,440 Speaker 2: are distressed, meaning that they were in foreclosure or something 478 00:26:56,480 --> 00:27:00,520 Speaker 2: along those lines. So again, some very positive news, not 479 00:27:00,560 --> 00:27:05,960 Speaker 2: only in the initial jobs claims hiring, as well as 480 00:27:06,359 --> 00:27:10,119 Speaker 2: in the home sales existing home sales. I wanted to 481 00:27:10,119 --> 00:27:14,199 Speaker 2: talk about this because last Tuesday, Wals or the New 482 00:27:14,320 --> 00:27:19,960 Speaker 2: York Times just call it weed one eighty. Now, back 483 00:27:19,960 --> 00:27:23,320 Speaker 2: in twenty fourteen, they had this editorial that kept talking 484 00:27:23,320 --> 00:27:27,800 Speaker 2: about or was focused on the need to decriminalize and 485 00:27:27,840 --> 00:27:35,040 Speaker 2: to make sure that marijuana was legalized throughout the country. 486 00:27:35,560 --> 00:27:38,680 Speaker 2: And they did this six part series of talking about 487 00:27:38,920 --> 00:27:40,800 Speaker 2: how wonderful it would be, what it would do to 488 00:27:40,840 --> 00:27:43,960 Speaker 2: the economy, what it would do to the decriminalization end 489 00:27:44,040 --> 00:27:46,800 Speaker 2: of it, how less people would be incarcerated, and all 490 00:27:46,840 --> 00:27:50,919 Speaker 2: this sort of stuff. But surprising the title of the editorial, 491 00:27:51,320 --> 00:27:54,720 Speaker 2: it's time for America to admit that it has a 492 00:27:54,840 --> 00:27:57,960 Speaker 2: marijuana problem. Now, we've talked about this on this program 493 00:27:58,000 --> 00:28:01,400 Speaker 2: a couple of times, because the marijuana laws is still 494 00:28:01,440 --> 00:28:04,960 Speaker 2: considered a Class one substance and so that it is 495 00:28:05,080 --> 00:28:08,600 Speaker 2: outlawed on a federal basis, and as far as your 496 00:28:08,600 --> 00:28:11,800 Speaker 2: CDL license is concerned, if you're popped from marijuana, if 497 00:28:11,840 --> 00:28:15,119 Speaker 2: you test positive for marijuana use, you could lose your 498 00:28:15,200 --> 00:28:19,080 Speaker 2: CDL license. And even if something is changed on the 499 00:28:19,119 --> 00:28:22,359 Speaker 2: state level, or even it may be legalized in a 500 00:28:22,400 --> 00:28:25,720 Speaker 2: particular state, but it's still not done at the federal level. 501 00:28:26,200 --> 00:28:29,160 Speaker 2: I disagree with the Trump administration them trying to move 502 00:28:29,200 --> 00:28:32,960 Speaker 2: this from a Class one to a Class three to 503 00:28:33,040 --> 00:28:36,440 Speaker 2: reduce the penalties on that. But the trucking industry itself 504 00:28:36,560 --> 00:28:41,440 Speaker 2: under the Transportation Department, Federal Motor Carrier Safety Administration, et cetera, 505 00:28:41,760 --> 00:28:45,880 Speaker 2: they have not reclassified that and don't plan on reclassifying that, 506 00:28:46,200 --> 00:28:48,959 Speaker 2: So again taking the risk of even if you're in 507 00:28:49,000 --> 00:28:52,800 Speaker 2: your state that it's legalized, that you could possibly lose 508 00:28:52,960 --> 00:28:57,680 Speaker 2: your CDO license. And the thing about that is that 509 00:28:58,240 --> 00:29:02,640 Speaker 2: if it's weird that if somebody were to come home 510 00:29:02,920 --> 00:29:07,280 Speaker 2: on Friday night and just do coke and do all 511 00:29:07,440 --> 00:29:10,600 Speaker 2: kinds of recreational drugs, that would be out of their 512 00:29:10,640 --> 00:29:13,720 Speaker 2: system within a twenty four to forty eight hours. But 513 00:29:13,840 --> 00:29:17,120 Speaker 2: the traces of marijuana stay in your system for up 514 00:29:17,200 --> 00:29:20,480 Speaker 2: to a month. So if you are tested for marijuana 515 00:29:20,800 --> 00:29:23,880 Speaker 2: a week, week and a half after you've smoked marijuana, 516 00:29:24,240 --> 00:29:28,040 Speaker 2: it will appear as a positive result and again possibly 517 00:29:28,160 --> 00:29:31,520 Speaker 2: lose your CDO license. But what they're finding in terms 518 00:29:31,560 --> 00:29:34,320 Speaker 2: of this editorial is taking a look at what has 519 00:29:34,360 --> 00:29:37,880 Speaker 2: been done as far as marijuana used throughout the country, 520 00:29:38,240 --> 00:29:41,480 Speaker 2: and some of the information is absolutely frightening. 521 00:29:41,640 --> 00:29:42,440 Speaker 1: We'll pick this up. 522 00:29:42,480 --> 00:29:46,600 Speaker 2: I'm Kevin Gordon, America's truck a Network seven hundred WLW 523 00:29:46,880 --> 00:29:50,960 Speaker 2: about this reversal. I just basically a one eighty that 524 00:29:51,080 --> 00:29:54,440 Speaker 2: The New York Times is done on marijuana use and 525 00:29:54,480 --> 00:29:57,360 Speaker 2: where they are taking a look at it. I guess 526 00:29:57,440 --> 00:30:00,920 Speaker 2: I could just call this WED one eighty because all 527 00:30:00,960 --> 00:30:03,800 Speaker 2: the stuff that they talked about thirteen years ago when 528 00:30:03,840 --> 00:30:08,680 Speaker 2: they ran this editorial piece a six part series, A 529 00:30:08,760 --> 00:30:10,920 Speaker 2: lot of what has happened as a result of that 530 00:30:11,440 --> 00:30:14,360 Speaker 2: is not what they had expected. They start off their 531 00:30:14,480 --> 00:30:17,240 Speaker 2: editorial with again, and by the way, if you miss 532 00:30:17,280 --> 00:30:19,920 Speaker 2: any of our previous shows or any of our previous 533 00:30:19,920 --> 00:30:23,040 Speaker 2: segments today, just make sure you hit up that iHeartRadio 534 00:30:23,080 --> 00:30:25,479 Speaker 2: app brought to you by our friends at Rush Truck Centers. 535 00:30:25,680 --> 00:30:30,520 Speaker 2: Thirteen years ago, no state allowed marijuana for recreational purposes. Today, 536 00:30:30,640 --> 00:30:33,240 Speaker 2: most Americans live in a state that allows them to 537 00:30:33,320 --> 00:30:36,960 Speaker 2: buy and smoke a joint. President Trump continued to trend 538 00:30:37,040 --> 00:30:43,720 Speaker 2: towards legalization in December by loosening federal restrictions. I wholeheartedly 539 00:30:43,880 --> 00:30:47,719 Speaker 2: disagree with that. Now, I got to stay that I 540 00:30:47,800 --> 00:30:52,160 Speaker 2: am coming from this from a situation where all I 541 00:30:52,360 --> 00:30:56,200 Speaker 2: know is the people that I know, well, what I 542 00:30:56,320 --> 00:30:59,480 Speaker 2: know is what I have read over the years, what 543 00:30:59,560 --> 00:31:01,920 Speaker 2: I have done on in terms of looking at this 544 00:31:03,280 --> 00:31:05,960 Speaker 2: subject for a number of years being on the air 545 00:31:06,080 --> 00:31:09,600 Speaker 2: and talking about marijuana use. I have no personal knowledge 546 00:31:09,680 --> 00:31:12,720 Speaker 2: of using what it's like to use marijuana, because I've 547 00:31:12,760 --> 00:31:15,719 Speaker 2: never smoked a joint. I've never even smoked a cigarette. 548 00:31:15,800 --> 00:31:18,880 Speaker 2: I will enjoy occasional cigar, but you don't inhale those. 549 00:31:19,240 --> 00:31:21,760 Speaker 2: And the thing is is if one of the problems 550 00:31:22,160 --> 00:31:26,560 Speaker 2: of people that smoke marijuana and cigarettes doing the inhaling 551 00:31:26,680 --> 00:31:30,240 Speaker 2: obviously is the problem with the lungs. But again, all 552 00:31:30,320 --> 00:31:33,200 Speaker 2: I know is based on what I have read, what 553 00:31:33,320 --> 00:31:35,880 Speaker 2: I have looked at in terms of different medical journals 554 00:31:35,960 --> 00:31:38,800 Speaker 2: or medical articles that have been written, stuff that have 555 00:31:38,840 --> 00:31:42,080 Speaker 2: been written in business articles, as well as in people 556 00:31:42,080 --> 00:31:44,360 Speaker 2: that I know and people that I've talked to. I've 557 00:31:44,400 --> 00:31:46,800 Speaker 2: talked to a number of people who have done it recreationally, 558 00:31:47,080 --> 00:31:50,080 Speaker 2: only tried it a few times, and even they have 559 00:31:50,200 --> 00:31:54,080 Speaker 2: had some issues with it where they didn't have those 560 00:31:54,200 --> 00:31:57,280 Speaker 2: issues before. And then some people that I know that 561 00:31:57,360 --> 00:31:59,640 Speaker 2: have used it on a continual basis for twenty or 562 00:31:59,720 --> 00:32:02,719 Speaker 2: so years and how they talk about how it has 563 00:32:02,760 --> 00:32:05,680 Speaker 2: affected their life. Basically, the bottom line for me is 564 00:32:05,760 --> 00:32:09,520 Speaker 2: I Quite honestly, I do not know an individual that 565 00:32:09,640 --> 00:32:13,400 Speaker 2: has told me or has said, gosh, using marijuana has 566 00:32:13,440 --> 00:32:16,760 Speaker 2: really improved my life. It has made my life. I 567 00:32:16,800 --> 00:32:21,840 Speaker 2: am better off today trying marijuana than anything else. So again, 568 00:32:22,240 --> 00:32:24,720 Speaker 2: take it with a grain of salts, so to speak. 569 00:32:25,200 --> 00:32:29,760 Speaker 2: The editorial Buillard has long supported marijuana legalization. In twenty fourteen, 570 00:32:29,800 --> 00:32:32,840 Speaker 2: we published a six part series that compared the federal 571 00:32:32,880 --> 00:32:37,480 Speaker 2: marijuana band to alcohol prohibition and argued for repeal. Much 572 00:32:37,520 --> 00:32:40,560 Speaker 2: of what we wrote back then holds up. Well, it 573 00:32:40,640 --> 00:32:43,520 Speaker 2: might hold up in terms of the theory, but the 574 00:32:43,560 --> 00:32:49,040 Speaker 2: application of that is far different. So being and again, 575 00:32:49,480 --> 00:32:51,880 Speaker 2: I guess it's their way of saying they were wrong 576 00:32:51,960 --> 00:32:54,840 Speaker 2: without saying they were wrong, because again, being liberal means 577 00:32:54,920 --> 00:32:57,920 Speaker 2: never having to say you're sorry. At the time, supporters 578 00:32:57,920 --> 00:33:02,600 Speaker 2: of legalization predicted that would bring few downsides That are editorials. 579 00:33:02,640 --> 00:33:08,000 Speaker 2: We described marijuana addiction independence as relatively minor problems. Many 580 00:33:08,040 --> 00:33:11,200 Speaker 2: advocates went further and claimed that marijuana was, as heart was, 581 00:33:11,400 --> 00:33:15,680 Speaker 2: a harmless drug that might even bring net health benefits. 582 00:33:16,200 --> 00:33:19,920 Speaker 2: They also said that legalization might not lead to greater use. 583 00:33:20,960 --> 00:33:24,920 Speaker 2: It's now clear that many of those predictions were wrong, 584 00:33:25,600 --> 00:33:29,760 Speaker 2: and it's going into that. And there was another story 585 00:33:29,800 --> 00:33:33,920 Speaker 2: where somebody was actually referring to this particular story talking 586 00:33:33,920 --> 00:33:37,400 Speaker 2: about and then in the story, the editorial it goes on, 587 00:33:37,560 --> 00:33:40,800 Speaker 2: I'll put this on my Facebook page, cleverly named Kevin 588 00:33:40,840 --> 00:33:44,600 Speaker 2: Gordon talking about the different implications of this. I mean, 589 00:33:44,640 --> 00:33:47,240 Speaker 2: it's a fairly long story. It's about three pages long, 590 00:33:47,560 --> 00:33:50,120 Speaker 2: printed out, no pictures and all this. But one of 591 00:33:50,120 --> 00:33:53,880 Speaker 2: the things that was surprising in this is that looking 592 00:33:53,920 --> 00:33:57,480 Speaker 2: at people who use marijuana and doing the survey, people 593 00:33:57,560 --> 00:34:03,800 Speaker 2: who use marijuana almost every day twenty plus days per month, 594 00:34:04,560 --> 00:34:08,359 Speaker 2: twenty one plus days per month. That's about you know, 595 00:34:08,960 --> 00:34:12,960 Speaker 2: every you know, every basically every workday, five days a 596 00:34:12,960 --> 00:34:17,279 Speaker 2: week for the entire month. Eighteen million people do that 597 00:34:17,760 --> 00:34:22,480 Speaker 2: between four and twenty days. Fifteen million people smoke marijuana 598 00:34:23,200 --> 00:34:26,719 Speaker 2: or use marijuana in whatever form, whether it's edibles or 599 00:34:26,760 --> 00:34:28,960 Speaker 2: any of that sort of thing, three days or fuel 600 00:34:29,400 --> 00:34:33,760 Speaker 2: a few or eleven million. So you're looking at thirty 601 00:34:33,800 --> 00:34:39,680 Speaker 2: three forty four million people per month are using some 602 00:34:40,000 --> 00:34:44,360 Speaker 2: form of marijuana, whether it's smoking or edibles or whatever. 603 00:34:44,960 --> 00:34:50,520 Speaker 2: And I just I find that amazing. But again, when 604 00:34:50,600 --> 00:34:54,239 Speaker 2: you have these states that have gone the route of 605 00:34:54,640 --> 00:35:01,520 Speaker 2: decriminalizing marijuana and actually almost even promoting and allowing the 606 00:35:01,600 --> 00:35:06,000 Speaker 2: companies themselves big weed, as New York Times refers to 607 00:35:06,080 --> 00:35:09,480 Speaker 2: it as that they have made so much money that 608 00:35:09,600 --> 00:35:12,520 Speaker 2: now they are big lobbyists, and that they are now 609 00:35:12,680 --> 00:35:17,239 Speaker 2: lobbying the various members of the states of the well 610 00:35:17,320 --> 00:35:21,120 Speaker 2: the States and then the House and Senate in Washington, 611 00:35:21,520 --> 00:35:22,640 Speaker 2: trying to push. 612 00:35:22,640 --> 00:35:23,879 Speaker 1: More marijuana use. 613 00:35:24,360 --> 00:35:27,720 Speaker 2: And the downsides of this that they're starting to find 614 00:35:27,719 --> 00:35:32,759 Speaker 2: out is absolutely phenomenal when you take into consideration the 615 00:35:32,800 --> 00:35:36,239 Speaker 2: potency and so on they're talking about in here that 616 00:35:36,840 --> 00:35:39,239 Speaker 2: let me see where they put that in here. There's 617 00:35:39,280 --> 00:35:44,760 Speaker 2: something about that the THCHC level back in nineteen ninety 618 00:35:44,800 --> 00:35:48,680 Speaker 2: five was about four percent or something along those lines. 619 00:35:49,000 --> 00:35:52,920 Speaker 2: Now in some cases it's up over ninety percent, So 620 00:35:53,080 --> 00:35:58,120 Speaker 2: it's more potent than it was years ago. And okay, 621 00:35:58,360 --> 00:36:01,839 Speaker 2: here we go. Today's cannabis is far more potent and 622 00:36:01,960 --> 00:36:07,120 Speaker 2: pot preceding legalization. Before legalization in nineteen ninety five, the 623 00:36:07,160 --> 00:36:11,959 Speaker 2: marijuana seized by the Drug Enforcement Administration was around four 624 00:36:12,040 --> 00:36:18,040 Speaker 2: percent THC, primary psychoactive compound in pot. Today, you can 625 00:36:18,080 --> 00:36:22,359 Speaker 2: buy marijuana products with THC levels of ninety percent or 626 00:36:22,480 --> 00:36:25,600 Speaker 2: more so, you have gone from a four percent level 627 00:36:25,760 --> 00:36:29,560 Speaker 2: up to ninety percent. That rapid increase has got to 628 00:36:29,640 --> 00:36:32,719 Speaker 2: create problems along the way. They talk in here in 629 00:36:32,800 --> 00:36:36,279 Speaker 2: terms of some of the they talk about the that 630 00:36:36,440 --> 00:36:40,719 Speaker 2: it is now addictive. The wider use has caused a 631 00:36:40,840 --> 00:36:44,359 Speaker 2: rise in addiction and other problems. Each year, nearly two 632 00:36:44,400 --> 00:36:47,399 Speaker 2: point eight million people in the United States suffer from 633 00:36:48,560 --> 00:36:56,360 Speaker 2: canna benoid hyper and hypermesis syndrome, which causes severe vomiting 634 00:36:56,480 --> 00:36:59,640 Speaker 2: and stomach pain. One of the people that talked about 635 00:36:59,640 --> 00:37:03,359 Speaker 2: this was somebody who's a hairdresser and how she took 636 00:37:03,400 --> 00:37:05,960 Speaker 2: this because of chronic pain and so on, and yet 637 00:37:06,000 --> 00:37:09,360 Speaker 2: she started encouraging and having these problems and she's asking, 638 00:37:09,520 --> 00:37:12,880 Speaker 2: why didn't anybody ever tell me this before? Well, again, 639 00:37:13,160 --> 00:37:16,200 Speaker 2: because if you have a product that comes out and 640 00:37:16,239 --> 00:37:18,600 Speaker 2: that people are hyping it up, they're not going to 641 00:37:18,640 --> 00:37:22,120 Speaker 2: tell you the downsides of it. And interestingly enough, they 642 00:37:22,160 --> 00:37:25,279 Speaker 2: talk about in here that they're not four should not 643 00:37:25,360 --> 00:37:29,480 Speaker 2: go back to prohibition, but they are disagreeing with certain states. 644 00:37:29,520 --> 00:37:32,360 Speaker 2: They're actually moving in that direction. And I thought it 645 00:37:32,440 --> 00:37:36,560 Speaker 2: was interesting and says we oppose the nation efforts nation 646 00:37:36,800 --> 00:37:41,520 Speaker 2: efforts to recriminalize the drug, such as potential ballot initiative 647 00:37:41,840 --> 00:37:46,360 Speaker 2: in Massachusetts. How Massachusetts has always been one of the 648 00:37:46,400 --> 00:37:49,800 Speaker 2: more liberal states. As a matter of fact, it's always 649 00:37:49,840 --> 00:37:54,360 Speaker 2: referred to as taxachooses and for them, a liberal state, 650 00:37:54,520 --> 00:37:58,480 Speaker 2: to move in that direction to try to recriminalize marijuana 651 00:37:58,880 --> 00:38:01,600 Speaker 2: has to tell you something. And when they look at 652 00:38:01,600 --> 00:38:05,640 Speaker 2: this and make the determination, it's it's interesting that the 653 00:38:05,800 --> 00:38:08,960 Speaker 2: movement towards this has gone too far, according to the 654 00:38:09,120 --> 00:38:11,560 Speaker 2: New York Times, But they don't want to They want 655 00:38:11,600 --> 00:38:15,120 Speaker 2: to gradually pull back as opposed to try to do 656 00:38:15,239 --> 00:38:19,760 Speaker 2: something to minimalize it, either through regulations, taxation, or whatever. 657 00:38:20,000 --> 00:38:23,000 Speaker 2: They talk about how if they raise taxes on it 658 00:38:23,040 --> 00:38:26,080 Speaker 2: and put more tax on where it is not tax 659 00:38:26,200 --> 00:38:30,160 Speaker 2: the same way as cigarettes and alcohol is, and so 660 00:38:30,239 --> 00:38:32,839 Speaker 2: if they implemented that. But in one hand, they talk 661 00:38:32,920 --> 00:38:37,919 Speaker 2: about how the use is a lot more in minority communities, 662 00:38:38,400 --> 00:38:40,680 Speaker 2: and so if they raise taxes, that's going to hurt 663 00:38:40,680 --> 00:38:43,879 Speaker 2: the minority communities. But they say it will cause more 664 00:38:43,920 --> 00:38:47,240 Speaker 2: of effective heavy users. Well where are the heavy users? 665 00:38:47,360 --> 00:38:50,640 Speaker 2: They don't go into that. The other thing is, you know, 666 00:38:50,760 --> 00:38:53,200 Speaker 2: one of the articles talked about health risks, I'll put 667 00:38:53,200 --> 00:38:56,160 Speaker 2: that up there. Also, there have been done some studies 668 00:38:56,200 --> 00:38:59,640 Speaker 2: and talking about cannabis is not as effective as many 669 00:38:59,680 --> 00:39:04,200 Speaker 2: as in terms of medical use. Doctor Michael Sue of 670 00:39:05,520 --> 00:39:09,040 Speaker 2: University of California, Los Angeles says, while many people turn 671 00:39:09,120 --> 00:39:13,400 Speaker 2: to cannabis seeking relief, our review highlights significant gaps between 672 00:39:13,680 --> 00:39:19,600 Speaker 2: public perception and scientific evidence regarding the effectiveness. Now they 673 00:39:19,600 --> 00:39:22,080 Speaker 2: do talk in terms of how this is effective in 674 00:39:22,160 --> 00:39:26,080 Speaker 2: terms of people with HIV AIDS or people that are 675 00:39:26,080 --> 00:39:32,680 Speaker 2: going under chemotherapy, because marijuana actually boost your appetite or 676 00:39:32,760 --> 00:39:34,960 Speaker 2: makes you want to eat, you know, get you the munchies, 677 00:39:35,200 --> 00:39:37,839 Speaker 2: and so if people are losing weight and that type 678 00:39:37,880 --> 00:39:42,120 Speaker 2: of thing, it's good for that. But beyond that, there 679 00:39:42,160 --> 00:39:45,680 Speaker 2: isn't a whole lot of medical necessity or what people 680 00:39:45,840 --> 00:39:48,960 Speaker 2: think they're gaining by smoking pot or using pot. One 681 00:39:49,000 --> 00:39:51,279 Speaker 2: of the things they pointed out too, is that if 682 00:39:51,280 --> 00:39:54,640 Speaker 2: it's the edibles or something along those lines that the 683 00:39:54,880 --> 00:39:58,120 Speaker 2: hit from smoking it, you get the high a lot quicker, 684 00:39:58,400 --> 00:40:01,440 Speaker 2: but if you're doing the edible, it takes longer for 685 00:40:01,520 --> 00:40:04,840 Speaker 2: that effect. So people are taking more of the edibles, 686 00:40:04,920 --> 00:40:09,160 Speaker 2: which then creates problems gastro and teslinae. My bottom line 687 00:40:09,200 --> 00:40:12,400 Speaker 2: is this, I've avoided it for seventy two years. I 688 00:40:12,440 --> 00:40:15,160 Speaker 2: can avoid it for another seventy two years. I don't 689 00:40:15,200 --> 00:40:18,040 Speaker 2: want any part of it, and I would recommend anybody 690 00:40:18,200 --> 00:40:20,200 Speaker 2: to get away from it. Well, folks, we're up against 691 00:40:20,239 --> 00:40:22,520 Speaker 2: clock here. Stay tuned for Red Eye Radio atop the hour. 692 00:40:22,800 --> 00:40:27,520 Speaker 2: I'm Kevin Gordon, America's truck in Network seven hundred WLW