1 00:00:11,000 --> 00:00:13,800 Speaker 1: This is America's Trucking Network with Kevin Gordon. 2 00:00:16,040 --> 00:00:19,720 Speaker 2: Welcome aboard, Thanks for tuning in on this. I guess 3 00:00:19,760 --> 00:00:24,400 Speaker 2: basically first workday of the year, the new year for 4 00:00:24,680 --> 00:00:27,200 Speaker 2: a lot of people. Well, of course you in the 5 00:00:27,240 --> 00:00:32,400 Speaker 2: trucking industry, and it's just another day for you, because 6 00:00:32,720 --> 00:00:35,040 Speaker 2: a lot of people didn't have the time off because 7 00:00:35,080 --> 00:00:38,680 Speaker 2: they're keeping the wheels of the economy flowing. Also first responders, 8 00:00:38,720 --> 00:00:43,760 Speaker 2: police and fire, hospital workers, food service employees, hotel motel workers, 9 00:00:44,040 --> 00:00:46,120 Speaker 2: store clerks, convenience store employees. 10 00:00:46,320 --> 00:00:48,520 Speaker 3: All of those worked over the holiday. 11 00:00:48,320 --> 00:00:51,160 Speaker 2: And I hope they got a few compliments from people 12 00:00:51,240 --> 00:00:54,600 Speaker 2: stopping by and saying, hey, thanks for being here because 13 00:00:55,120 --> 00:00:57,960 Speaker 2: we're out having fun and you know, we need gas, 14 00:00:58,040 --> 00:01:00,120 Speaker 2: we need to go to the hospitals and stuff like that. 15 00:01:00,120 --> 00:01:00,240 Speaker 3: That. 16 00:01:00,360 --> 00:01:03,040 Speaker 2: So again, hats off to all the people that work. 17 00:01:03,440 --> 00:01:06,720 Speaker 2: But also, this is the ninth to day of Christmas. 18 00:01:06,760 --> 00:01:09,800 Speaker 2: Because the Christmas season, the twelve days of Christmas are 19 00:01:09,800 --> 00:01:12,959 Speaker 2: not the twelve days before Christmas. It's the twelve days 20 00:01:13,000 --> 00:01:15,920 Speaker 2: after Christmas. And we've talked about that on this program 21 00:01:16,040 --> 00:01:20,440 Speaker 2: numerous times now. This is like the first day after 22 00:01:21,319 --> 00:01:23,280 Speaker 2: in my opinion, well, it seems like. 23 00:01:23,200 --> 00:01:25,520 Speaker 3: This has been one of the most unusual weeks. 24 00:01:25,760 --> 00:01:28,240 Speaker 2: You know, there are times when you have a holiday 25 00:01:28,280 --> 00:01:33,120 Speaker 2: that falls on a Tuesday or a Wednesday, and people 26 00:01:33,200 --> 00:01:36,480 Speaker 2: will say that, well, it feels like we've had two 27 00:01:36,520 --> 00:01:39,319 Speaker 2: Mondays this week, because you know, they're off on Wednesday 28 00:01:39,319 --> 00:01:41,480 Speaker 2: and then they come back into work on Thursday. They 29 00:01:42,000 --> 00:01:45,560 Speaker 2: had the Monday and then now Thursday. But this holiday, 30 00:01:45,680 --> 00:01:48,320 Speaker 2: or this Christmas season was kind of unusual because with 31 00:01:48,440 --> 00:01:51,800 Speaker 2: Christmas being on Thursday, and then of course New Year's 32 00:01:51,880 --> 00:01:55,240 Speaker 2: Day being on Thursday as well, some. 33 00:01:55,080 --> 00:01:57,640 Speaker 3: People took off that Friday. 34 00:01:57,560 --> 00:02:00,760 Speaker 2: And people were trying to cram in there final week 35 00:02:00,840 --> 00:02:03,240 Speaker 2: of vacation, and they time that so that they could 36 00:02:03,280 --> 00:02:05,480 Speaker 2: get that in before the end of the year. And 37 00:02:06,000 --> 00:02:09,240 Speaker 2: it just seemed like some people and some businesses, like 38 00:02:09,280 --> 00:02:12,000 Speaker 2: they are companies, they didn't know what to do with 39 00:02:12,120 --> 00:02:15,720 Speaker 2: that time period in between. Do you just say, okay, 40 00:02:15,760 --> 00:02:17,440 Speaker 2: because we're going to come back to work on that 41 00:02:17,520 --> 00:02:20,360 Speaker 2: Monday after Christmas and then be there Monday Tuesday, and 42 00:02:20,360 --> 00:02:22,960 Speaker 2: then half a day on New Year's Day or something 43 00:02:23,000 --> 00:02:25,720 Speaker 2: along those lines. So it's been kind of a topsy 44 00:02:25,760 --> 00:02:28,560 Speaker 2: turvy period of time. And I can't tell you the 45 00:02:28,639 --> 00:02:31,160 Speaker 2: number of people I've talked to that when you get 46 00:02:31,200 --> 00:02:35,480 Speaker 2: into conversation with them because of their mind being that, Okay, 47 00:02:35,800 --> 00:02:38,880 Speaker 2: my day off or a day off is like a weekend, 48 00:02:39,320 --> 00:02:41,480 Speaker 2: and then you ask them what it seems like a 49 00:02:41,480 --> 00:02:43,640 Speaker 2: lot of people were confused as to what day it was. 50 00:02:43,800 --> 00:02:47,480 Speaker 2: They said, oh, yeah, today's Today's Tuesday. It's not Monday, 51 00:02:47,480 --> 00:02:50,320 Speaker 2: it's not whatever. And I think it was just because 52 00:02:50,520 --> 00:02:54,240 Speaker 2: the way the holiday fell on a Thursday, and then 53 00:02:54,520 --> 00:02:57,639 Speaker 2: some people again taking off on Friday, then coming back 54 00:02:57,680 --> 00:03:00,760 Speaker 2: in on Monday, and then you know, the short work week. 55 00:03:00,840 --> 00:03:03,160 Speaker 2: So at some point, like I said, a lot of people, 56 00:03:03,520 --> 00:03:05,040 Speaker 2: I can't tell you the number of people that I 57 00:03:05,120 --> 00:03:08,000 Speaker 2: talked to that they would be in a conversation and 58 00:03:08,040 --> 00:03:10,280 Speaker 2: they go, well, okay, well I'm going to schedule this 59 00:03:10,440 --> 00:03:13,119 Speaker 2: for well wait a minute, I can't schedule this for Wednesday, 60 00:03:13,160 --> 00:03:16,880 Speaker 2: because that's that's New Year's even most people won't be off. 61 00:03:17,200 --> 00:03:19,800 Speaker 2: And even some businesses and people that I tried to 62 00:03:19,840 --> 00:03:23,959 Speaker 2: contact to get something scheduled should they were actually off 63 00:03:24,080 --> 00:03:26,920 Speaker 2: for almost the entire well they kind of closed business 64 00:03:26,919 --> 00:03:30,080 Speaker 2: on that Wednesday before Christmas and we're off the entire week. 65 00:03:30,600 --> 00:03:30,840 Speaker 1: You know. 66 00:03:31,400 --> 00:03:34,560 Speaker 2: Again, some people in the retail business, I don't know 67 00:03:34,600 --> 00:03:36,920 Speaker 2: how people do that, but you know, there were a 68 00:03:36,960 --> 00:03:38,600 Speaker 2: lot of people that did. I'm just you know, just 69 00:03:38,720 --> 00:03:41,600 Speaker 2: ranting here because it's been kind of a confusing time, 70 00:03:41,640 --> 00:03:43,360 Speaker 2: and like I said, there's a lot of people I've 71 00:03:43,360 --> 00:03:45,640 Speaker 2: talked to that kind of seemed like they were off 72 00:03:45,680 --> 00:03:47,760 Speaker 2: in terms of kind of figuring out what actually what 73 00:03:47,920 --> 00:03:50,280 Speaker 2: day it was. And one of the stories I've seen 74 00:03:50,520 --> 00:03:54,680 Speaker 2: that kind of piqued my interest talking about looking back 75 00:03:54,680 --> 00:03:56,839 Speaker 2: in the rearview mirror, and everybody wants to look back 76 00:03:56,840 --> 00:03:59,240 Speaker 2: on twenty twenty five and try to, you know, draw 77 00:03:59,320 --> 00:04:03,400 Speaker 2: some of some sense to it or or kind of 78 00:04:03,400 --> 00:04:07,280 Speaker 2: summarize it or whatever. But one article I read, the 79 00:04:07,320 --> 00:04:10,960 Speaker 2: title of it was how Trump overturned decades of US 80 00:04:10,960 --> 00:04:15,720 Speaker 2: policy in twenty twenty five. And like a lot of stories, 81 00:04:15,760 --> 00:04:18,080 Speaker 2: and as you heard me talk about on this program, 82 00:04:18,279 --> 00:04:20,240 Speaker 2: there's a lot of stories that when you see the 83 00:04:20,279 --> 00:04:24,640 Speaker 2: headline and then you dig into the story itself, they 84 00:04:24,920 --> 00:04:29,200 Speaker 2: kind of approach it with a certain I guess intent 85 00:04:29,720 --> 00:04:32,560 Speaker 2: where they want to make a particular point and it 86 00:04:32,680 --> 00:04:37,200 Speaker 2: tends to be somewhat negative. But then within the conversation 87 00:04:37,400 --> 00:04:41,240 Speaker 2: or within the story itself, there are gems or certain 88 00:04:41,240 --> 00:04:43,960 Speaker 2: things that you pick out and you say, well, wait 89 00:04:43,960 --> 00:04:47,160 Speaker 2: a minute, this isn't kind of flowing with what they 90 00:04:47,160 --> 00:04:50,200 Speaker 2: are trying to get across here, and let's just kind 91 00:04:50,200 --> 00:04:52,080 Speaker 2: of explain that when we get into this. 92 00:04:52,240 --> 00:04:53,440 Speaker 3: Okay, they say. 93 00:04:53,440 --> 00:04:56,440 Speaker 2: Since returning to the White House in January, President Donald 94 00:04:56,480 --> 00:05:01,120 Speaker 2: Trump has overturned decades of US trade policy. See building 95 00:05:01,160 --> 00:05:04,480 Speaker 2: a wall of tariffs around what used to be a 96 00:05:04,640 --> 00:05:08,440 Speaker 2: wide open economy. Well, right off the bat, my question 97 00:05:08,640 --> 00:05:12,800 Speaker 2: is really trade and balance from World War Two. Now, 98 00:05:13,520 --> 00:05:17,279 Speaker 2: tariffs in the early days of our country was the 99 00:05:17,400 --> 00:05:21,240 Speaker 2: driving force of income to this country. There was no 100 00:05:21,360 --> 00:05:25,520 Speaker 2: income tax prior to until right around World War One, 101 00:05:25,960 --> 00:05:29,799 Speaker 2: and really got solidified after World War Two. But tariffs 102 00:05:30,120 --> 00:05:33,360 Speaker 2: generally brought in a lot of money. After World War Two, 103 00:05:33,839 --> 00:05:38,839 Speaker 2: with Europe being decimated, Japan decimated, and a lot of 104 00:05:38,880 --> 00:05:42,520 Speaker 2: countries around the world being decimated because they were on 105 00:05:42,560 --> 00:05:46,240 Speaker 2: the battlefield there, America was at a diss of Us 106 00:05:46,320 --> 00:05:51,000 Speaker 2: was at an advantage because our factories hadn't been blown up. 107 00:05:51,400 --> 00:05:53,719 Speaker 2: We were and we had the ocean between us and 108 00:05:53,760 --> 00:05:56,880 Speaker 2: where all the conflict was going on. And so it 109 00:05:56,960 --> 00:06:01,480 Speaker 2: was a heyday for American business because no factories in Germany, 110 00:06:02,120 --> 00:06:05,039 Speaker 2: a lot of destroyed in England, of course, in China, 111 00:06:05,200 --> 00:06:08,640 Speaker 2: Japan and so on, So we were making money hands 112 00:06:08,680 --> 00:06:12,200 Speaker 2: over fist. Now as those economies started to build up, 113 00:06:12,560 --> 00:06:15,720 Speaker 2: they started we started allowing them or when they put 114 00:06:15,800 --> 00:06:19,799 Speaker 2: tariffs in to kind of protect as a protectionist situation 115 00:06:19,960 --> 00:06:23,240 Speaker 2: for themselves. They wanted to keep their economy going, and 116 00:06:23,279 --> 00:06:25,680 Speaker 2: they wanted their goods to be competitive. They were a 117 00:06:25,680 --> 00:06:27,760 Speaker 2: little bit more expensive than ours, so they put up 118 00:06:27,800 --> 00:06:31,440 Speaker 2: these trade barriers to slow down some of our goods 119 00:06:31,440 --> 00:06:34,719 Speaker 2: coming into their country. We did not put tariffs on 120 00:06:34,800 --> 00:06:37,680 Speaker 2: their goods coming into our country, so they were a 121 00:06:37,720 --> 00:06:40,760 Speaker 2: lot more competitive. Some of their prices were even cheaper, 122 00:06:41,040 --> 00:06:45,240 Speaker 2: and so people had alternatives to buy, which by them 123 00:06:45,320 --> 00:06:48,680 Speaker 2: buying these foreign goods, then built up the economies in 124 00:06:48,720 --> 00:06:52,000 Speaker 2: these other countries. Well, this went on for obviously for 125 00:06:52,120 --> 00:06:56,680 Speaker 2: decades of where this protectionist policy of keeping our goods 126 00:06:56,800 --> 00:06:59,520 Speaker 2: out of their country or making our goods that much 127 00:06:59,560 --> 00:07:03,240 Speaker 2: more defensive. For instance, you hardly ever saw any kind 128 00:07:03,240 --> 00:07:06,560 Speaker 2: of an American automobile in Japan. You didn't have any 129 00:07:06,600 --> 00:07:09,880 Speaker 2: Ford f one fifties. If you look around Europe, a 130 00:07:09,960 --> 00:07:13,120 Speaker 2: lot of people are driving taxi cabs that are Mercedes Benz, 131 00:07:13,400 --> 00:07:16,640 Speaker 2: which are luxury items here in the United States, but 132 00:07:17,240 --> 00:07:22,120 Speaker 2: they were relatively inexpensive there. You don't see American cars 133 00:07:22,240 --> 00:07:24,800 Speaker 2: on the roads in Europe. Now, granted some of them 134 00:07:24,840 --> 00:07:26,600 Speaker 2: are a lot more narrow, but you look at the 135 00:07:26,640 --> 00:07:30,720 Speaker 2: Mercedes Benz, they're not all that narrow. So if they 136 00:07:30,760 --> 00:07:34,200 Speaker 2: can negotiate those streets over there, so can American cars. 137 00:07:34,280 --> 00:07:37,920 Speaker 2: So a lot of our goods, again, we're being kept 138 00:07:37,920 --> 00:07:41,640 Speaker 2: out of these areas artificially because of terrace. Donald Trump 139 00:07:41,680 --> 00:07:44,520 Speaker 2: comes along, looks at the trade deficit we have with 140 00:07:44,600 --> 00:07:47,400 Speaker 2: all these different countries and says, you know, what we're 141 00:07:47,400 --> 00:07:51,080 Speaker 2: at kind of an unfair advantage or a disadvantage because 142 00:07:51,320 --> 00:07:54,160 Speaker 2: these countries are charging X number of dollars and we're 143 00:07:54,160 --> 00:07:58,520 Speaker 2: not charging any. On Liberation Day, he put up the 144 00:07:58,600 --> 00:08:03,280 Speaker 2: various props and showed all one hundred and eighty countries. 145 00:08:03,320 --> 00:08:03,720 Speaker 3: He had them. 146 00:08:03,880 --> 00:08:08,760 Speaker 2: You know, listen out. You know four different things that 147 00:08:08,840 --> 00:08:12,320 Speaker 2: he showed. They were like a folders or a placards 148 00:08:12,400 --> 00:08:14,920 Speaker 2: or whatever that you could hold up. But he showed 149 00:08:14,920 --> 00:08:17,840 Speaker 2: each one of those and showed each one one after 150 00:08:17,880 --> 00:08:21,920 Speaker 2: the other, showing what they charged on our goods coming 151 00:08:21,960 --> 00:08:24,720 Speaker 2: into their country versus what we charged on their goods 152 00:08:24,720 --> 00:08:28,960 Speaker 2: coming into our country, and the numbers were astronomical. Charging 153 00:08:29,040 --> 00:08:32,520 Speaker 2: thirty five percent tariff on our goods going into certain countries, 154 00:08:32,760 --> 00:08:36,360 Speaker 2: we charging hardly any going into ours. So he decided 155 00:08:36,559 --> 00:08:38,920 Speaker 2: and said he was going to level the playing field. 156 00:08:39,160 --> 00:08:42,720 Speaker 2: We're all for free trade, but we're also for fair trade, 157 00:08:43,040 --> 00:08:46,720 Speaker 2: and so started increasing the tariffs on their goods coming 158 00:08:46,720 --> 00:08:49,559 Speaker 2: into our country to level the playing field and to 159 00:08:50,160 --> 00:08:55,280 Speaker 2: basically reciprocal tariffs. Now, of course, all hell broke loose 160 00:08:55,320 --> 00:08:58,000 Speaker 2: at that point in time, and people were saying this 161 00:08:58,120 --> 00:09:02,800 Speaker 2: was going to throw us into a recession, unemployment, rapid inflation, 162 00:09:03,160 --> 00:09:03,760 Speaker 2: and so on. 163 00:09:04,200 --> 00:09:08,359 Speaker 3: But those and when they in this article. 164 00:09:08,080 --> 00:09:10,320 Speaker 2: As soon as he says that they used to be 165 00:09:10,440 --> 00:09:13,880 Speaker 2: a wide open economy. And my question is, as I've 166 00:09:13,880 --> 00:09:17,560 Speaker 2: been explaining, is a wide open economy for who? Not 167 00:09:17,760 --> 00:09:20,400 Speaker 2: for our goods going into these countries, but for their 168 00:09:20,440 --> 00:09:23,920 Speaker 2: goods coming in. And so again, that was a negotiating 169 00:09:23,960 --> 00:09:27,720 Speaker 2: tool to get them to lower their terraces on our 170 00:09:27,800 --> 00:09:31,120 Speaker 2: goods going into their countries, and to a large extent 171 00:09:31,400 --> 00:09:36,000 Speaker 2: that has been successful. Continuing on here, Trump has argued 172 00:09:36,040 --> 00:09:38,840 Speaker 2: that a steep new import taxes are necessary to bring 173 00:09:38,880 --> 00:09:42,240 Speaker 2: back wealth that was stolen from the US. He says 174 00:09:42,320 --> 00:09:45,520 Speaker 2: it was by a narrow He said, well, narrow America's 175 00:09:45,559 --> 00:09:49,960 Speaker 2: trade deficit, old trade deficit, and bring manufacturing back to 176 00:09:50,040 --> 00:09:53,000 Speaker 2: this country. It was out of balance when we realized 177 00:09:53,040 --> 00:09:55,560 Speaker 2: how But anyway, we'll pick this up on the other side. 178 00:09:55,720 --> 00:09:59,760 Speaker 2: I'm Kevin Gordon, America's truck a Network, seven hundred WLW. 179 00:10:01,200 --> 00:10:03,480 Speaker 4: Here's your trucking forecast for the Try State and the 180 00:10:03,480 --> 00:10:06,400 Speaker 4: rest of the country and the Tri State. Overnight, mostly claudy, 181 00:10:06,440 --> 00:10:09,240 Speaker 4: the low down to twenty three, a mostly sunny sky. Friday, 182 00:10:09,280 --> 00:10:11,880 Speaker 4: a high of thirty six. Going into the weekend. Saturday, 183 00:10:11,920 --> 00:10:14,760 Speaker 4: mostly claudy highs again in the upper thirty sunny Sunday, 184 00:10:14,840 --> 00:10:17,199 Speaker 4: a high of thirty seven, and for those finally getting 185 00:10:17,200 --> 00:10:20,440 Speaker 4: back to workers school Monday following the holiday, sunny and warmer. 186 00:10:20,559 --> 00:10:23,280 Speaker 4: The high year fifty. Nationally, the West Coast scene more 187 00:10:23,280 --> 00:10:25,520 Speaker 4: wet weather to start the new year. Meanwhile, much above 188 00:10:25,559 --> 00:10:28,000 Speaker 4: average temperature scene from the northern Rockies, through the plains 189 00:10:28,000 --> 00:10:30,960 Speaker 4: and into the lower Mississippi Valley, while below average temperatures 190 00:10:30,960 --> 00:10:33,760 Speaker 4: are expected from the Upper Mississippi Valley, Great Lakes region 191 00:10:33,960 --> 00:10:37,400 Speaker 4: and the Northeast. Like effects, no expected into Saturday downwind 192 00:10:37,440 --> 00:10:40,280 Speaker 4: of lakes Erie, Ontario and Eastern Superior. 193 00:10:41,840 --> 00:10:47,040 Speaker 2: I'm Kevin Gordon, America's Trucking Network seven hundred WLW. Continue 194 00:10:47,080 --> 00:10:50,720 Speaker 2: our conversation from the previous segment, talking about this story 195 00:10:50,880 --> 00:10:55,400 Speaker 2: how Trump overturned decades of US trade policy in twenty 196 00:10:55,480 --> 00:10:58,280 Speaker 2: twenty five. For the most part, in my opinion, it's 197 00:10:58,320 --> 00:11:00,600 Speaker 2: been a good thing. And of course we'll see some 198 00:11:00,640 --> 00:11:03,640 Speaker 2: of those numbers coming up. But I was talking about how, 199 00:11:03,720 --> 00:11:07,200 Speaker 2: you know, are you that bringing manufacturing back to this country. 200 00:11:07,520 --> 00:11:10,680 Speaker 2: We saw during the pandemic when all of a sudden, 201 00:11:10,960 --> 00:11:14,679 Speaker 2: you know, businesses were shut down, restaurants were closed, and 202 00:11:14,760 --> 00:11:15,960 Speaker 2: everybody was buttoned up. 203 00:11:16,000 --> 00:11:17,360 Speaker 3: People were unemployed people. 204 00:11:17,480 --> 00:11:19,880 Speaker 2: You know, some people could work from home, but your 205 00:11:19,920 --> 00:11:22,400 Speaker 2: restaurant workers are manufacturing a lot of that. 206 00:11:22,360 --> 00:11:24,600 Speaker 3: Sort of stuff. Those businesses closed down. 207 00:11:24,960 --> 00:11:27,880 Speaker 2: And when we saw how much of our goods were 208 00:11:27,880 --> 00:11:32,000 Speaker 2: manufactured and brought in from China. You know, when you're 209 00:11:32,120 --> 00:11:34,600 Speaker 2: going through the store, I don't know how many people 210 00:11:34,840 --> 00:11:37,880 Speaker 2: pay attention to where goods are coming from. All they 211 00:11:37,920 --> 00:11:40,840 Speaker 2: care about is they walk into the store, stuff's on 212 00:11:40,880 --> 00:11:43,440 Speaker 2: the shelf, They buy the stuff. But when we started 213 00:11:43,440 --> 00:11:48,079 Speaker 2: seeing how much medical equipment face mask gowns, that personal 214 00:11:48,120 --> 00:11:51,880 Speaker 2: protection equipment had come from China. How much of our 215 00:11:51,920 --> 00:11:55,200 Speaker 2: medicines came from China. That kind of woke people up 216 00:11:55,280 --> 00:11:58,040 Speaker 2: to like, what the hell are we doing because they 217 00:11:58,080 --> 00:12:01,720 Speaker 2: tried to deny it, but it was obvious that where 218 00:12:01,920 --> 00:12:07,840 Speaker 2: the coronavirus had come from COVID nineteen. You know, of 219 00:12:07,880 --> 00:12:10,280 Speaker 2: course they try again. They tried to deny it, but 220 00:12:10,320 --> 00:12:12,480 Speaker 2: it was pretty clear where it came from, to the 221 00:12:12,480 --> 00:12:15,480 Speaker 2: point where people are asking about, Okay, this is a 222 00:12:15,520 --> 00:12:19,440 Speaker 2: country that started this pandemic, and yet they're the ones 223 00:12:19,480 --> 00:12:22,280 Speaker 2: that are profiting by this because of all the goods 224 00:12:22,320 --> 00:12:23,160 Speaker 2: and all the. 225 00:12:23,080 --> 00:12:24,440 Speaker 3: Stuff that we're buying from them. 226 00:12:24,760 --> 00:12:27,719 Speaker 2: So the thought at the time was that we need 227 00:12:27,720 --> 00:12:32,400 Speaker 2: to start redomiciling a lot of our manufacturing and bringing 228 00:12:32,440 --> 00:12:34,800 Speaker 2: that back to the United States so they're not so 229 00:12:34,960 --> 00:12:38,600 Speaker 2: dependent upon other countries to keep our wheels of our 230 00:12:38,640 --> 00:12:41,679 Speaker 2: economy flowing. So they go into this and they start 231 00:12:41,679 --> 00:12:45,080 Speaker 2: showing the teriff rates remain elevated throughout twenty twenty five 232 00:12:45,160 --> 00:12:47,160 Speaker 2: and so on. And they go into this and they're 233 00:12:47,160 --> 00:12:50,440 Speaker 2: talking about twenty twenty five per data per the Yale 234 00:12:50,480 --> 00:12:52,520 Speaker 2: Budget Lab, and they go through some of the numbers 235 00:12:52,800 --> 00:12:58,000 Speaker 2: November's effective terif rate was nearly seventeen percent, seven times 236 00:12:58,040 --> 00:13:04,840 Speaker 2: greater than January's average, the highest scene since nineteen thirty five. Now, 237 00:13:05,000 --> 00:13:07,120 Speaker 2: let me just make a quick point here, all right, 238 00:13:07,160 --> 00:13:10,920 Speaker 2: If the tariff rate was nearly seventeen percent, and this 239 00:13:11,240 --> 00:13:14,320 Speaker 2: was charged on across the board on goods coming into 240 00:13:14,320 --> 00:13:18,160 Speaker 2: the United States, if that was inflationary, and if it 241 00:13:18,240 --> 00:13:23,800 Speaker 2: was going to cause rampant in a tremendous inflation, why 242 00:13:23,920 --> 00:13:28,080 Speaker 2: wasn't the inflation rate around seventeen percent. Our inflation rate 243 00:13:28,240 --> 00:13:31,559 Speaker 2: at the latest reading is at two point seven percent. 244 00:13:32,160 --> 00:13:35,080 Speaker 2: As I said from the beginning, because going back to 245 00:13:35,120 --> 00:13:38,640 Speaker 2: my studies of economics when I was back in school, 246 00:13:38,920 --> 00:13:42,560 Speaker 2: they talked about tariffs do not necessarily lead to inflation. 247 00:13:42,960 --> 00:13:46,880 Speaker 2: They are a revenue generating tool for a country and 248 00:13:47,040 --> 00:13:52,760 Speaker 2: to try to balance out trade as far as exports 249 00:13:52,800 --> 00:13:56,560 Speaker 2: and imports. Now, as far as that is concerned, again, 250 00:13:56,720 --> 00:14:00,400 Speaker 2: at a seventeen percent rate, our inflation rate is his own. 251 00:14:00,480 --> 00:14:04,079 Speaker 2: And what is causing inflation is out of control government spending. 252 00:14:04,320 --> 00:14:07,040 Speaker 2: When they start issuing checks that don't need to be issued, 253 00:14:07,200 --> 00:14:11,320 Speaker 2: when they start subsidizing things, and when they start this 254 00:14:12,440 --> 00:14:15,800 Speaker 2: was an inflation reduction Act, which was nothing more than 255 00:14:15,880 --> 00:14:20,280 Speaker 2: a payoff to the green energy or the climbiness as 256 00:14:20,320 --> 00:14:24,120 Speaker 2: I call them, to try to bolster green energy and 257 00:14:24,320 --> 00:14:29,080 Speaker 2: basically categorize and put in place the Green New Deal 258 00:14:29,160 --> 00:14:31,840 Speaker 2: that was being proposed a couple of years before, or 259 00:14:31,880 --> 00:14:34,560 Speaker 2: as I refer to it, the Green News Steel because 260 00:14:34,600 --> 00:14:37,160 Speaker 2: it's a transfer of wealth from one sector of the 261 00:14:37,200 --> 00:14:40,640 Speaker 2: economy to another. But again, when you're looking at this, 262 00:14:41,200 --> 00:14:45,960 Speaker 2: the seventeen percent across pretty much on average rate of tariffs, 263 00:14:46,240 --> 00:14:49,920 Speaker 2: our inflation rate was at two point seven percent. What 264 00:14:50,120 --> 00:14:52,800 Speaker 2: happened and what had been being talked about by certain 265 00:14:52,840 --> 00:14:56,400 Speaker 2: people like our friend Phil Flynn with Price Futures Group, 266 00:14:56,680 --> 00:15:02,880 Speaker 2: Kevin O'Leary, Shark Tank Cudlow, Larry Cudlow from Fox Businesses 267 00:15:03,040 --> 00:15:06,120 Speaker 2: and a very few handful of people around the country 268 00:15:06,160 --> 00:15:08,960 Speaker 2: talking about tariffs we're going to be we're not going 269 00:15:09,000 --> 00:15:12,840 Speaker 2: to lead to inflation and the fact that it levels 270 00:15:12,880 --> 00:15:15,840 Speaker 2: the playing field. Now, when you look at how that 271 00:15:15,960 --> 00:15:20,560 Speaker 2: is done, you look at the manufacturing country overseas that 272 00:15:20,680 --> 00:15:25,240 Speaker 2: has very low hourly wages, like in China, their average 273 00:15:25,280 --> 00:15:28,560 Speaker 2: hourly rate is between five dollars and seven dollars an hour. 274 00:15:28,920 --> 00:15:31,320 Speaker 2: They don't have any benefits, they don't have any vacation 275 00:15:31,440 --> 00:15:34,920 Speaker 2: time or whatever. So their cost per hour is about 276 00:15:34,960 --> 00:15:38,800 Speaker 2: five to seven dollars. In the United States, our average 277 00:15:38,840 --> 00:15:43,920 Speaker 2: annual rate hourly rate across the board, averaging every industry 278 00:15:44,240 --> 00:15:46,440 Speaker 2: is around thirty seven and a half dollars per hour. 279 00:15:46,720 --> 00:15:49,640 Speaker 2: Now that includes the fact that we've got certain things 280 00:15:49,640 --> 00:15:53,200 Speaker 2: in terms of vacation pay and benefits and that type 281 00:15:53,200 --> 00:15:57,480 Speaker 2: of thing, and so just on par the labor costs 282 00:15:57,520 --> 00:16:01,600 Speaker 2: here are a lot higher. The manufacturers over there have 283 00:16:01,800 --> 00:16:05,440 Speaker 2: a large margin between what they manufacture the item for 284 00:16:05,640 --> 00:16:08,680 Speaker 2: and what they can sell it for. They're concerned about 285 00:16:08,720 --> 00:16:12,560 Speaker 2: them keeping market share so that they don't price themselves out, 286 00:16:12,760 --> 00:16:16,640 Speaker 2: so they ate some of those tariffs. The exporter that 287 00:16:16,960 --> 00:16:20,320 Speaker 2: has some of the business and then shipping those overseas, 288 00:16:20,680 --> 00:16:23,760 Speaker 2: they absorbed some of that tariff. Then on the other end, 289 00:16:23,800 --> 00:16:26,800 Speaker 2: you got the importer that again wants to sell these 290 00:16:26,840 --> 00:16:30,480 Speaker 2: products and keep the goods flowing, they absorbed some of 291 00:16:30,520 --> 00:16:33,960 Speaker 2: that tariff. Then you have the wholesalers or distributors that 292 00:16:34,080 --> 00:16:36,320 Speaker 2: again looked at that and said, well, you know, we've 293 00:16:36,360 --> 00:16:37,880 Speaker 2: got a pretty decent market share. 294 00:16:38,040 --> 00:16:40,000 Speaker 3: We don't want to overprice our products. 295 00:16:40,120 --> 00:16:43,240 Speaker 2: And then them. 296 00:16:42,080 --> 00:16:44,040 Speaker 3: Sit on the shelves a lot longer, and. 297 00:16:44,000 --> 00:16:48,080 Speaker 2: So that goes to the they absorb some of this tariff, 298 00:16:48,160 --> 00:16:52,520 Speaker 2: and then you've got the retailers again concerned about market share, 299 00:16:52,720 --> 00:16:55,280 Speaker 2: keeping customers in their store as opposed to going to 300 00:16:55,360 --> 00:16:58,560 Speaker 2: another store. They cut some of those things. Walmart absorbed 301 00:16:58,560 --> 00:17:00,800 Speaker 2: some of that, and yet you saw the profits of 302 00:17:00,840 --> 00:17:04,280 Speaker 2: these companies still going up, and we've reported that on 303 00:17:04,320 --> 00:17:08,400 Speaker 2: this program. So again at a seventeen percent rate. Why 304 00:17:08,560 --> 00:17:10,840 Speaker 2: is interesting? And you know the point of this is 305 00:17:10,840 --> 00:17:13,159 Speaker 2: to kind of trash what was done as far as 306 00:17:13,200 --> 00:17:17,080 Speaker 2: the Trump administration was. But within their article, there are 307 00:17:17,200 --> 00:17:19,520 Speaker 2: things that if you read between the lines, like I'm 308 00:17:19,600 --> 00:17:22,280 Speaker 2: doing that, that shows that a lot of the stuff 309 00:17:22,280 --> 00:17:25,320 Speaker 2: that they were saying was crap. Again this line, November's 310 00:17:25,320 --> 00:17:29,720 Speaker 2: effective tariff rate was seventeen percent, seven times greater than 311 00:17:29,800 --> 00:17:35,080 Speaker 2: January's average, and the highest scene since nineteen thirty five. Well, again, 312 00:17:35,119 --> 00:17:38,720 Speaker 2: we're not seeing that in the seventeen percent inflation rate. 313 00:17:39,040 --> 00:17:42,320 Speaker 2: And so where did that money go? Where was it absorbed? 314 00:17:42,359 --> 00:17:45,600 Speaker 2: And I just explained that Trump's higher tariffs, as they 315 00:17:45,640 --> 00:17:48,919 Speaker 2: say here, are certainly raising money. They've raked in more 316 00:17:48,960 --> 00:17:51,520 Speaker 2: than two hundred and thirty six billion dollars this year 317 00:17:51,720 --> 00:17:54,800 Speaker 2: through November, much more than in the year's past, but 318 00:17:54,880 --> 00:17:57,640 Speaker 2: they still account for just a fraction of the federal 319 00:17:57,680 --> 00:18:00,480 Speaker 2: government's total revenue. And see this, this is one of 320 00:18:00,480 --> 00:18:03,480 Speaker 2: those things that we started hearing about when Doze was 321 00:18:03,520 --> 00:18:06,320 Speaker 2: going into effect and started to go into some of 322 00:18:06,359 --> 00:18:09,040 Speaker 2: these agencies and cut money. They're saying, well, you know, 323 00:18:09,240 --> 00:18:11,840 Speaker 2: this is overinflated, and we need to cut this budget 324 00:18:11,840 --> 00:18:15,920 Speaker 2: here in this agency by a billion dollars. And people 325 00:18:15,920 --> 00:18:18,240 Speaker 2: would say, well, a billion dollars, that's just a small 326 00:18:18,280 --> 00:18:21,920 Speaker 2: fraction of the revenue. Well as somebody I forget who 327 00:18:21,920 --> 00:18:23,320 Speaker 2: it was, but they were on one of these talk 328 00:18:23,359 --> 00:18:25,280 Speaker 2: shows one time. I'm talking back during the time of 329 00:18:25,480 --> 00:18:27,840 Speaker 2: a Johnny Carson. It was a senator or a congressman 330 00:18:28,119 --> 00:18:30,119 Speaker 2: or whatever. He says, you know, a billion here, a 331 00:18:30,119 --> 00:18:32,960 Speaker 2: billion there. Pretty soon you're talking about a lot of money. Well, 332 00:18:33,000 --> 00:18:35,960 Speaker 2: I'll tell you what for me, A billion dolls would 333 00:18:36,000 --> 00:18:38,360 Speaker 2: do a whole lot of good for me. I'm sure 334 00:18:38,400 --> 00:18:40,840 Speaker 2: a billion dollars would do a pretty good for you. 335 00:18:41,200 --> 00:18:44,080 Speaker 2: But again, it's a small fraction of the economy, or 336 00:18:44,119 --> 00:18:46,480 Speaker 2: a small fraction of the government spending. But with a 337 00:18:46,560 --> 00:18:49,080 Speaker 2: government spending being as out of control as it is. 338 00:18:49,400 --> 00:18:51,800 Speaker 2: Any cuts that we can make is a good thing. 339 00:18:52,119 --> 00:18:54,160 Speaker 2: And to pull back some of that and put more 340 00:18:54,200 --> 00:18:56,600 Speaker 2: money in the pockets in the American public, that is 341 00:18:56,680 --> 00:18:59,280 Speaker 2: a good thing. So again saying, oh, well, it's just 342 00:18:59,280 --> 00:19:03,440 Speaker 2: a small fraction of the budget, Well, like I said, 343 00:19:03,520 --> 00:19:06,560 Speaker 2: a billion here, billionaire, pretty soon it adds up. US 344 00:19:06,600 --> 00:19:10,320 Speaker 2: trade deficit, meanwhile, has fallen significantly since the start. 345 00:19:10,040 --> 00:19:10,520 Speaker 3: Of the year. 346 00:19:11,000 --> 00:19:14,240 Speaker 2: The trade gap peaked to a monthly record of one 347 00:19:14,320 --> 00:19:18,040 Speaker 2: hundred and thirty six point four billion in March, as 348 00:19:18,119 --> 00:19:22,480 Speaker 2: consumers and businesses hurried to import foreign products before Trump 349 00:19:22,560 --> 00:19:26,480 Speaker 2: could impose his tariffs on them. The trade gap narrowed 350 00:19:26,480 --> 00:19:30,080 Speaker 2: to fifty two point five fifty two point eight billion, 351 00:19:30,240 --> 00:19:34,359 Speaker 2: almost eighty billion dollars less, according to the latest numbers, 352 00:19:34,880 --> 00:19:37,640 Speaker 2: seventeen percent ahead of January. Let me see, but you're 353 00:19:37,680 --> 00:19:40,920 Speaker 2: to date. The deficit was still running seventeen percent ahead 354 00:19:41,080 --> 00:19:46,399 Speaker 2: of January twenty ahead of the January to September twenty 355 00:19:46,440 --> 00:19:50,720 Speaker 2: twenty four numbers. Growing economy, consumers buying more would have 356 00:19:50,760 --> 00:19:54,440 Speaker 2: accounted for that, and why that is the seventeen percent increase. 357 00:19:54,800 --> 00:19:57,639 Speaker 2: And then they start getting into these stories and you know, 358 00:19:57,760 --> 00:20:00,640 Speaker 2: later on or actually will pick this up, but they 359 00:20:00,680 --> 00:20:05,919 Speaker 2: start it almost seems like they're making excuses for and 360 00:20:06,040 --> 00:20:10,840 Speaker 2: being fans of and protection is for China. We'll get 361 00:20:10,880 --> 00:20:13,760 Speaker 2: into this coming up. I'm Kevin Gordon, America's Trucking Network. 362 00:20:13,960 --> 00:20:17,360 Speaker 2: Seven hundred WLW is. 363 00:20:17,320 --> 00:20:20,040 Speaker 1: The last game of the season and the Bengals are 364 00:20:20,080 --> 00:20:22,840 Speaker 1: looking to finish with a win. To do it, they 365 00:20:22,920 --> 00:20:26,679 Speaker 1: have to beat the Browns. I have some comments about Cleveland, 366 00:20:26,840 --> 00:20:30,440 Speaker 1: but I probably shouldn't share them. Will Zach Taylor's team 367 00:20:30,560 --> 00:20:33,840 Speaker 1: pull off the Battle of Ohio the Bengals Battle of 368 00:20:33,840 --> 00:20:36,560 Speaker 1: the Browns. Get the call live from Dan Hort and 369 00:20:36,720 --> 00:20:39,720 Speaker 1: Dave Levin. The game kicks off at one VM, with 370 00:20:39,960 --> 00:20:43,760 Speaker 1: coverage starting at nine AM Sunday. Stream for free on 371 00:20:43,880 --> 00:20:48,600 Speaker 1: the new and improved iHeartRadio app or on seven hundred WLW, 372 00:20:48,800 --> 00:20:51,960 Speaker 1: home of the Best Bengals coverage. 373 00:20:52,320 --> 00:20:54,280 Speaker 3: Hey y'all, this is Aaron Tibbitt. 374 00:20:54,600 --> 00:20:58,840 Speaker 5: Being in the music business, traveling working late doesn't do 375 00:20:58,960 --> 00:21:02,720 Speaker 5: great thanks from my team, but I found that's staying 376 00:21:02,760 --> 00:21:05,919 Speaker 5: active and making time to work out helps keep my 377 00:21:06,119 --> 00:21:09,320 Speaker 5: energy where it needs to be to perform my best. 378 00:21:09,880 --> 00:21:12,840 Speaker 5: No matter what you do or where you are, make 379 00:21:12,920 --> 00:21:15,600 Speaker 5: time to stay in shape, You'll feel better and have 380 00:21:15,720 --> 00:21:17,920 Speaker 5: the energy you need to accomplish your goals. 381 00:21:18,119 --> 00:21:22,200 Speaker 3: This message rocked you by the US Air Force. I'm 382 00:21:22,280 --> 00:21:24,240 Speaker 3: jumping in with my clothes off. 383 00:21:25,440 --> 00:21:27,600 Speaker 6: Most party fouls are pretty dumb, but if you decide 384 00:21:27,600 --> 00:21:29,479 Speaker 6: to drink and drive under age, you could lose your 385 00:21:29,480 --> 00:21:33,160 Speaker 6: license and your freedom. Learn more at Ultimate partyfoul dot org. 386 00:21:33,280 --> 00:21:35,600 Speaker 6: Brought to you by the National Highway Traffic Safety Administration 387 00:21:35,680 --> 00:21:36,479 Speaker 6: and the AD Council. 388 00:21:37,560 --> 00:21:41,000 Speaker 3: I'm a FLII fighter, a teacher, I'm a farmer. I'm 389 00:21:41,040 --> 00:21:44,760 Speaker 3: a barber, a waitress, a mom. We're all part of 390 00:21:44,800 --> 00:21:45,520 Speaker 3: your community. 391 00:21:45,920 --> 00:21:47,919 Speaker 7: Every day we move in and out of each other's 392 00:21:47,960 --> 00:21:51,200 Speaker 7: busy lives. It's easy to take for granted all the 393 00:21:51,280 --> 00:21:53,400 Speaker 7: little moments that make up our every day. 394 00:21:53,920 --> 00:21:57,160 Speaker 3: Some are good, others not so much, but that's life. 395 00:21:57,560 --> 00:22:01,399 Speaker 3: It's when you experience a moment of uncertain something or 396 00:22:01,440 --> 00:22:03,600 Speaker 3: someone's behavior that doesn't seem quite right. 397 00:22:04,160 --> 00:22:07,520 Speaker 7: These are the moments to take a pause, because if 398 00:22:07,560 --> 00:22:10,040 Speaker 7: something doesn't feel right, it's probably nuts. 399 00:22:10,400 --> 00:22:12,719 Speaker 3: It's not about paranoia or being afraid. 400 00:22:13,040 --> 00:22:15,359 Speaker 8: It's about standing up and protecting our communities. 401 00:22:15,640 --> 00:22:18,639 Speaker 7: One detail out of time, because a lot of little 402 00:22:18,640 --> 00:22:20,240 Speaker 7: details can become a pattern. 403 00:22:20,640 --> 00:22:25,160 Speaker 3: We we we We trust our instincts, just like you should, 404 00:22:25,560 --> 00:22:28,200 Speaker 3: because only you know what's not supposed. 405 00:22:27,800 --> 00:22:29,080 Speaker 6: To be in your every day. 406 00:22:29,760 --> 00:22:31,120 Speaker 3: So protect your every day. 407 00:22:31,600 --> 00:22:35,560 Speaker 8: If you see something suspicious, say something to local authorities. 408 00:22:36,720 --> 00:22:39,080 Speaker 7: Excuse me, I know you have a nine o'clock so 409 00:22:39,119 --> 00:22:41,719 Speaker 7: I'll keep this short. I'm a business suit in the 410 00:22:41,760 --> 00:22:44,880 Speaker 7: back of your closet. You wore me nearly every day 411 00:22:44,920 --> 00:22:48,240 Speaker 7: before your office went quote casual. I used to be 412 00:22:48,280 --> 00:22:51,200 Speaker 7: the CEO of your closet. Now I'm just that one 413 00:22:51,240 --> 00:22:53,880 Speaker 7: intern no one ever talks to. I always thought you'd 414 00:22:53,920 --> 00:22:57,120 Speaker 7: circle back with me, get granular, keep me in the pipeline. 415 00:22:57,400 --> 00:23:01,800 Speaker 7: But nada, nothing. Don't you remember the McKittrick presentation. You 416 00:23:01,920 --> 00:23:05,360 Speaker 7: spilled coffee on me and I still looked amazing during 417 00:23:05,400 --> 00:23:07,960 Speaker 7: the breakout talk back Q and A. So I think 418 00:23:07,960 --> 00:23:09,679 Speaker 7: it's time for me to move on. I've got a 419 00:23:09,680 --> 00:23:12,760 Speaker 7: great resume and I absolutely crush it in interviews. Okay, 420 00:23:13,040 --> 00:23:15,639 Speaker 7: let's make this a clean break shift the paradigm. The 421 00:23:15,720 --> 00:23:17,480 Speaker 7: only thing I ask is that you think outside the 422 00:23:17,520 --> 00:23:19,960 Speaker 7: box here and do this. Take me to good Will 423 00:23:20,160 --> 00:23:21,640 Speaker 7: where I can really make a difference. 424 00:23:22,359 --> 00:23:25,919 Speaker 6: Your donations to Goodwill create new jobs, training, programs and 425 00:23:26,080 --> 00:23:28,879 Speaker 6: education assistance for people in your community. To find your 426 00:23:28,880 --> 00:23:32,240 Speaker 6: nearest donation center, go to Goodwill dot org. Donate stuff, 427 00:23:32,359 --> 00:23:35,600 Speaker 6: Create jobs. A message from Goodwill and the AD Council. 428 00:23:37,040 --> 00:23:39,199 Speaker 8: Some things in life are preventable. 429 00:23:39,400 --> 00:23:41,320 Speaker 4: Ooh, gas station sushi. 430 00:23:41,480 --> 00:23:44,920 Speaker 3: Yuh, that's preventable. I'm just gonna tell my boss what I. 431 00:23:44,840 --> 00:23:45,920 Speaker 4: Really think of him. 432 00:23:45,960 --> 00:23:50,760 Speaker 3: Oh, that's preventable. Hmmm, maybe a face tattoo would look good. 433 00:23:51,280 --> 00:23:52,240 Speaker 3: That's preventable too. 434 00:23:53,119 --> 00:23:56,080 Speaker 8: The Colorectal Cancer Alliance wants you to know a lot 435 00:23:56,080 --> 00:23:59,399 Speaker 8: of things in life are preventable. Colon cancer is common 436 00:23:59,440 --> 00:24:01,719 Speaker 8: and deadly, but that's also preventable. 437 00:24:01,920 --> 00:24:03,480 Speaker 5: Oh my gosh, it's a bear. 438 00:24:04,000 --> 00:24:05,159 Speaker 8: Let's get a selfie with it. 439 00:24:05,560 --> 00:24:06,560 Speaker 3: Also previncable. 440 00:24:07,640 --> 00:24:10,840 Speaker 8: The Alliance is doing its part to end colorectal cancer. 441 00:24:11,280 --> 00:24:14,720 Speaker 8: Now do yours get involved, And if you're forty five 442 00:24:14,800 --> 00:24:17,159 Speaker 8: or older, talk to your doctor about the colon cancer 443 00:24:17,200 --> 00:24:18,800 Speaker 8: screening options available to you. 444 00:24:18,920 --> 00:24:21,959 Speaker 3: Betch I can eat fifty hot dogs in an hour. Preventable. 445 00:24:22,080 --> 00:24:24,119 Speaker 7: Actually, runner, I'm representing myself. 446 00:24:25,000 --> 00:24:27,960 Speaker 8: Good and Colorectal Cancer dot org to learn more. That's 447 00:24:28,040 --> 00:24:32,119 Speaker 8: Colorectal Cancer dot org. And together we can save lives. 448 00:24:32,359 --> 00:24:35,400 Speaker 3: Hey running Jack no no no, no, no. 449 00:24:35,240 --> 00:24:39,680 Speaker 6: No no, Live from those seven hundred W l W. 450 00:24:39,920 --> 00:24:40,879 Speaker 3: I'm Kevin Gordon. 451 00:24:41,119 --> 00:24:42,720 Speaker 2: Before we get to some of these other things, I 452 00:24:42,720 --> 00:24:44,399 Speaker 2: want to touch on, you know, what's going on as 453 00:24:44,440 --> 00:24:47,840 Speaker 2: far as the energy markets are concerned, and the Energy 454 00:24:47,880 --> 00:24:51,199 Speaker 2: report from our friend Phil Flynn was very spot on 455 00:24:51,320 --> 00:24:54,040 Speaker 2: in some in terms of some of the things he 456 00:24:54,200 --> 00:24:57,120 Speaker 2: was talking about in terms of what Donald Trump has 457 00:24:57,160 --> 00:25:00,720 Speaker 2: been doing. Not only well, you know the article that 458 00:25:00,760 --> 00:25:04,520 Speaker 2: we've been covering talking about how Trump overturned decades of 459 00:25:04,640 --> 00:25:07,880 Speaker 2: US foreign policy, but what he's also done is actually 460 00:25:08,080 --> 00:25:11,040 Speaker 2: put us back on a level of where we are 461 00:25:11,080 --> 00:25:14,240 Speaker 2: going to be energy dominant and what that is going 462 00:25:14,280 --> 00:25:17,200 Speaker 2: to do. And as I've talked about on this program 463 00:25:17,280 --> 00:25:20,080 Speaker 2: numerous times, you look at what has done as far 464 00:25:20,119 --> 00:25:24,400 Speaker 2: as energy prices. Energy prices go across the entire segment 465 00:25:24,520 --> 00:25:27,440 Speaker 2: of this economy. I don't care what business you're in, 466 00:25:27,720 --> 00:25:32,080 Speaker 2: there is energy involved. Obviously in the trucking industry, manufacturing 467 00:25:32,119 --> 00:25:35,800 Speaker 2: with electricity. Even if you're in an office what white 468 00:25:35,840 --> 00:25:39,600 Speaker 2: collar attorney's accountants, you depend on energy because of keeping 469 00:25:39,640 --> 00:25:44,560 Speaker 2: the lights on, people transferring, you know, people traveling, salesman 470 00:25:45,680 --> 00:25:49,240 Speaker 2: deliveries and so on based on gasoline, so energy cuts 471 00:25:49,240 --> 00:25:52,199 Speaker 2: across all sectors of the economy, and if the energy 472 00:25:52,200 --> 00:25:56,520 Speaker 2: prices go down, those are going to be very good 473 00:25:56,640 --> 00:25:59,119 Speaker 2: and those things are going to be going to be 474 00:25:59,280 --> 00:26:02,280 Speaker 2: very good for the economy. One of the things that 475 00:26:02,400 --> 00:26:05,960 Speaker 2: started off as far as Phil Flynn's Energy Report was 476 00:26:06,240 --> 00:26:08,480 Speaker 2: talking about how we are moving towards an area of 477 00:26:08,600 --> 00:26:13,040 Speaker 2: energy independence back when what we were back in twenty twenty. 478 00:26:13,280 --> 00:26:17,400 Speaker 2: So again that was recognizing something that needed to be done. 479 00:26:17,520 --> 00:26:21,760 Speaker 2: But looking at oil and gas prices real quick. West 480 00:26:21,760 --> 00:26:25,040 Speaker 2: Texas Intermedia crude is at fifty seven dollars and forty 481 00:26:25,080 --> 00:26:28,359 Speaker 2: five cents a barrel. It's down fifty cents on the day, 482 00:26:28,560 --> 00:26:32,560 Speaker 2: but just since January the twentieth, when Trump took office, 483 00:26:32,880 --> 00:26:37,520 Speaker 2: West Texas Intermediate crued is down nineteen dollars and forty 484 00:26:37,520 --> 00:26:42,680 Speaker 2: four cents a barrel, down twenty five percent. Brent krude, 485 00:26:42,720 --> 00:26:45,760 Speaker 2: currently at sixty dollars and ninety cents a barrel, is 486 00:26:45,920 --> 00:26:50,600 Speaker 2: down nineteen dollars just since January the twentieth, or a 487 00:26:50,720 --> 00:26:55,240 Speaker 2: twenty four percent decrease. Looking at gasoline, current national average 488 00:26:55,240 --> 00:26:58,159 Speaker 2: across the board is two dollars and eighty four cents 489 00:26:58,160 --> 00:27:01,560 Speaker 2: for gasoline three dollars fifty seven cents. 490 00:27:01,600 --> 00:27:03,080 Speaker 3: Again, across the board. 491 00:27:03,040 --> 00:27:07,919 Speaker 2: Average US for diesel, looking at a year ago, gas 492 00:27:07,960 --> 00:27:12,440 Speaker 2: prices are down twenty cents. They're down seven percent from 493 00:27:12,480 --> 00:27:14,960 Speaker 2: this time last year. So if you're talking about your 494 00:27:15,000 --> 00:27:17,959 Speaker 2: family budget and your gas that you're gassing up your 495 00:27:17,960 --> 00:27:21,680 Speaker 2: car with is now down seven percent, and in some areas. 496 00:27:21,480 --> 00:27:22,760 Speaker 3: Even more than that. 497 00:27:23,200 --> 00:27:25,800 Speaker 2: I know in my neck of the woods here or 498 00:27:26,560 --> 00:27:30,520 Speaker 2: where I live in Campbell County, gas prices are extremely low. 499 00:27:30,760 --> 00:27:34,479 Speaker 2: They're low compared to the two dollars and eighty some cents. 500 00:27:34,640 --> 00:27:38,119 Speaker 2: I think they're down now around I think, well, in 501 00:27:38,160 --> 00:27:41,440 Speaker 2: my neighborhood right now, the gasoline is at two dollars 502 00:27:41,520 --> 00:27:45,080 Speaker 2: and forty eight cents, So that is down from two 503 00:27:45,160 --> 00:27:47,880 Speaker 2: dollars and eighty some cents at the beginning of the year. 504 00:27:48,240 --> 00:27:52,679 Speaker 2: Diesel to night let me see, two sixty nine is 505 00:27:52,800 --> 00:27:58,119 Speaker 2: down considerably. And again if you're paying attention to gasoline prices, 506 00:27:58,160 --> 00:28:00,919 Speaker 2: and I'm you know, when I look at just in 507 00:28:00,960 --> 00:28:04,199 Speaker 2: my neighborhood, the fluctuation of gas from the highest to 508 00:28:04,240 --> 00:28:08,119 Speaker 2: the lowest. Sometimes if you pick up those apps that 509 00:28:08,240 --> 00:28:10,720 Speaker 2: tell you where the cheapest gas is, you can save 510 00:28:10,760 --> 00:28:13,360 Speaker 2: a lot of money, because there's sometimes when I look 511 00:28:13,400 --> 00:28:16,680 Speaker 2: at these numbers and gallon and gas in one part 512 00:28:16,840 --> 00:28:19,840 Speaker 2: and just this is just in my zip code. This 513 00:28:19,920 --> 00:28:22,800 Speaker 2: isn't the entire county that I live in, it is 514 00:28:23,000 --> 00:28:26,040 Speaker 2: just the zip code. Those prices can fluctuate by about 515 00:28:26,080 --> 00:28:30,879 Speaker 2: thirty cents a gallon, So again that is something that 516 00:28:30,960 --> 00:28:33,480 Speaker 2: needs to be paid attention to when we look at 517 00:28:33,800 --> 00:28:36,240 Speaker 2: energy prices, When we look at gasoline prices compared to 518 00:28:36,280 --> 00:28:40,080 Speaker 2: where they were back in twenty twenty, we are seventeen cents. 519 00:28:40,880 --> 00:28:43,040 Speaker 2: Let me see, we were seventeen cents higher than we 520 00:28:43,040 --> 00:28:46,680 Speaker 2: were back in twenty twenty, which again that's a six 521 00:28:46,720 --> 00:28:50,320 Speaker 2: percent increase, but that's a six percent increase going back 522 00:28:50,360 --> 00:28:54,800 Speaker 2: to five years ago. So again, energy prices are moving 523 00:28:54,800 --> 00:28:57,640 Speaker 2: in the right direction. A truck tonnage nudges up zero 524 00:28:57,640 --> 00:29:00,320 Speaker 2: point two percent higher in number. 525 00:29:00,880 --> 00:29:02,080 Speaker 3: Again, this is very good. 526 00:29:02,160 --> 00:29:06,600 Speaker 2: American Trucking Associations ATA seasonally adjusted to higher A four 527 00:29:06,680 --> 00:29:10,920 Speaker 2: higher truck tonnage index rose point two percent sequentially after 528 00:29:11,000 --> 00:29:14,640 Speaker 2: falling one point nine percent in October and point eight 529 00:29:14,720 --> 00:29:19,560 Speaker 2: percent in September. In September, Federation said December twenty third, 530 00:29:19,840 --> 00:29:23,440 Speaker 2: November ata's index came in at one twelve point four, 531 00:29:24,000 --> 00:29:28,000 Speaker 2: up from one twelve point two in October. Pluminary figures 532 00:29:28,000 --> 00:29:31,840 Speaker 2: had shown a two point one percent decrease. But again, 533 00:29:32,200 --> 00:29:35,280 Speaker 2: as the truck volume starts going up and starts inching up, 534 00:29:35,680 --> 00:29:39,760 Speaker 2: maybe we can start seeing an end to this tonnage 535 00:29:39,840 --> 00:29:43,120 Speaker 2: and truck recession that we've been in now for more 536 00:29:43,160 --> 00:29:45,440 Speaker 2: than three years. Going into some of the numbers a 537 00:29:45,480 --> 00:29:48,760 Speaker 2: little bit further, the index based on twenty ten or 538 00:29:48,800 --> 00:29:52,400 Speaker 2: twenty fifteen as one hundred nudged up point three percent 539 00:29:52,880 --> 00:29:57,640 Speaker 2: lower year over year compared with November, but again is 540 00:29:57,680 --> 00:30:00,680 Speaker 2: heading in the right direction bringing up some these numbers. 541 00:30:00,840 --> 00:30:07,200 Speaker 2: According to ATA American Trucking Association's chief economist Bob Costello, 542 00:30:07,640 --> 00:30:13,040 Speaker 2: November tonnage reading continue to point to a constrained freight market. 543 00:30:13,080 --> 00:30:17,760 Speaker 2: Despite the smaller sequential increase, the index was also down 544 00:30:17,840 --> 00:30:21,480 Speaker 2: from the year earlier, the second straight year over year decline. 545 00:30:21,880 --> 00:30:25,800 Speaker 2: In addition to challenging volumes, more capacity appears to be 546 00:30:25,880 --> 00:30:30,400 Speaker 2: leaving the industry after a prolonged freight downturn and increased 547 00:30:30,440 --> 00:30:36,080 Speaker 2: government enforcement measures targeting unqualified drivers and non compliant carriers. 548 00:30:36,400 --> 00:30:40,560 Speaker 2: So as the capacity goes down, those rates should start 549 00:30:40,600 --> 00:30:43,480 Speaker 2: seeing a little bit of an uptick and then the 550 00:30:43,480 --> 00:30:47,200 Speaker 2: tonnage for those left in the industry and the good 551 00:30:47,240 --> 00:30:50,320 Speaker 2: ones left in the industry. I mean, we have talked 552 00:30:50,840 --> 00:30:55,040 Speaker 2: a lot about some of these CDL mills, some of 553 00:30:55,080 --> 00:30:58,680 Speaker 2: these people that are not qualified to be out on 554 00:30:58,720 --> 00:31:03,520 Speaker 2: the road driving an eighteen wheeler, an eighty thousand pounds 555 00:31:03,640 --> 00:31:07,120 Speaker 2: piece of equipment, and they can't read road signs, they 556 00:31:07,200 --> 00:31:09,800 Speaker 2: can't read where they are, they're not even really proficient 557 00:31:09,920 --> 00:31:13,360 Speaker 2: at being able to handle that kind of equipment. That's 558 00:31:13,520 --> 00:31:17,800 Speaker 2: got to be good for overall. Let's see we talk 559 00:31:17,840 --> 00:31:20,320 Speaker 2: about in here in terms of certain volumes in the 560 00:31:20,320 --> 00:31:25,000 Speaker 2: capacity and in certain areas where it is up only 561 00:31:25,040 --> 00:31:29,360 Speaker 2: see meanwhile, for higher freight shipments as measured by cocks 562 00:31:29,680 --> 00:31:33,200 Speaker 2: by what was the number here by cast Freight Index 563 00:31:33,320 --> 00:31:36,920 Speaker 2: rows zero point seven percent for the month. The shipments 564 00:31:36,960 --> 00:31:40,560 Speaker 2: fell seven point six in October. Now, what they're talking 565 00:31:40,560 --> 00:31:45,160 Speaker 2: about coming into this year frigid December weather might affect 566 00:31:45,200 --> 00:31:48,680 Speaker 2: some of these numbers. But according to ACT Research senior 567 00:31:48,760 --> 00:31:54,920 Speaker 2: analyst Tim Denauur, some of these items might affect Freight 568 00:31:54,960 --> 00:31:59,920 Speaker 2: Transportation Research Associates FTR Transport Intelligence data for the whe 569 00:32:00,000 --> 00:32:04,800 Speaker 2: weekending December nineteenth showed a much stronger spot market than usual. 570 00:32:05,280 --> 00:32:08,920 Speaker 2: Drive in spot rates posted their best year over year 571 00:32:09,000 --> 00:32:14,560 Speaker 2: comparisons since February of twenty twenty two. Meanwhile, flatbed spot rates, 572 00:32:14,600 --> 00:32:18,600 Speaker 2: the key indicator of industrial and construction industry demand. 573 00:32:18,600 --> 00:32:21,240 Speaker 3: Posted their largest year over year. 574 00:32:21,120 --> 00:32:25,800 Speaker 2: Increase since mid twenty twenty two and reached their highest 575 00:32:25,840 --> 00:32:30,000 Speaker 2: level since April of twenty twenty four. So, again, within 576 00:32:30,120 --> 00:32:35,440 Speaker 2: certain segments of the trucking industry, certain components, some of 577 00:32:35,480 --> 00:32:37,960 Speaker 2: these rates are going up, the spot rates are going up, 578 00:32:38,280 --> 00:32:41,560 Speaker 2: and as that, hopefully that continues on into twenty twenty 579 00:32:41,600 --> 00:32:46,040 Speaker 2: six and we can finally put this truck recession in 580 00:32:46,240 --> 00:32:47,200 Speaker 2: the rearview mirror. 581 00:32:47,680 --> 00:32:50,800 Speaker 3: That would be a good thing. Let's see. 582 00:32:52,880 --> 00:32:56,360 Speaker 2: Again, there are certain companies that are not doing really well. 583 00:32:57,000 --> 00:33:00,600 Speaker 2: FedEx is kind of lowering their expectations. There's been some 584 00:33:01,080 --> 00:33:03,520 Speaker 2: switch in terms of what they are doing as far 585 00:33:03,560 --> 00:33:06,920 Speaker 2: as their business outlook and business components. They have lost 586 00:33:06,960 --> 00:33:09,840 Speaker 2: some major contracts to other people, and so when you 587 00:33:09,880 --> 00:33:12,200 Speaker 2: do that, of course, your bottom line is going to 588 00:33:12,200 --> 00:33:15,360 Speaker 2: be adversely affected by that. We're not going to have 589 00:33:15,400 --> 00:33:18,280 Speaker 2: time to get into pending home sales. But let me 590 00:33:18,400 --> 00:33:20,760 Speaker 2: just say that, certainly, let me just give it a 591 00:33:20,840 --> 00:33:24,880 Speaker 2: thumbnail sketch. Month over month pending home sales because of 592 00:33:25,040 --> 00:33:27,880 Speaker 2: interest rates coming down, and is if stress that one 593 00:33:27,880 --> 00:33:31,640 Speaker 2: of the things holding back our economy is higher interest rates. 594 00:33:31,760 --> 00:33:35,200 Speaker 2: With interest rates coming down, people have more affordability of 595 00:33:35,280 --> 00:33:38,080 Speaker 2: getting into homes and actually being able to afford homes. 596 00:33:38,320 --> 00:33:41,120 Speaker 2: Month over months saw a three point three percent increase 597 00:33:41,360 --> 00:33:44,720 Speaker 2: in pending home sales and gains in all four regions 598 00:33:44,720 --> 00:33:47,880 Speaker 2: of the country. Year over year, two point six percent 599 00:33:48,040 --> 00:33:52,680 Speaker 2: increase in pending home sales, and that again crossed all sectors, 600 00:33:52,760 --> 00:33:55,960 Speaker 2: all segments of the country. So a lot of good 601 00:33:56,000 --> 00:33:59,239 Speaker 2: news starting off twenty twenty six, and hopefully we can 602 00:33:59,320 --> 00:34:01,480 Speaker 2: keep the moment. I'm going well, folks, that does it 603 00:34:01,520 --> 00:34:03,640 Speaker 2: for us? Stay tuned for Red Eye Radio at the 604 00:34:03,680 --> 00:34:06,959 Speaker 2: top of the hour. I'm Kevin Gordon. America's Struck A 605 00:34:07,000 --> 00:34:10,000 Speaker 2: Network seven hundred WLW