WEBVTT - 1-2-26 Ken Broo in for Willie 0:00:09.160 --> 0:00:14.440 All right, here we go again. January two, twenty twenty six. 0:00:15.800 --> 0:00:18.520 Some people working today. I think most people that took 0:00:18.560 --> 0:00:21.840 the day or the time off Christmas week, they're not 0:00:21.920 --> 0:00:25.479 back at work. Look who I'm filling in for. But 0:00:25.600 --> 0:00:28.160 I think most people that took the Christmas week off, 0:00:28.160 --> 0:00:32.120 I think they're off today. It's nice, long break. It's good. 0:00:32.200 --> 0:00:35.080 You got three days left of that and then it's 0:00:35.120 --> 0:00:39.199 back to absolute hell. But listen, you'll worry about Monday 0:00:40.000 --> 0:00:43.560 when Monday rolls around, right. I mean, if you plan 0:00:43.680 --> 0:00:45.800 too far and ahead to get too worried about what 0:00:46.159 --> 0:00:48.640 is on the horizon, you miss the beauty of the 0:00:48.640 --> 0:00:50.879 sunrise or the sun set, or whatever it may be. 0:00:51.800 --> 0:00:54.440 As a wise man once said, great to be with you. 0:00:54.520 --> 0:00:57.040 It's the average American in for the great American right here. 0:00:57.120 --> 0:01:00.720 Until you see football this afternoon, you see the Liberty 0:01:00.800 --> 0:01:04.000 Bowl against Navy. This is going to be, as they 0:01:04.000 --> 0:01:07.120 say it, tough out for UC. UC doesn't have its 0:01:08.280 --> 0:01:12.120 top quarterback. Brendan Soresby is in the transfer portal, which 0:01:12.160 --> 0:01:16.440 by the way, open today. This whole nil thing is 0:01:16.560 --> 0:01:19.600 just turned college football in college basketball on its head. 0:01:19.600 --> 0:01:22.000 You're rooting for uniforms. Now you realize that it's the 0:01:22.040 --> 0:01:25.800 old Seinfeld joke. You're literally each year you're not rooting 0:01:25.840 --> 0:01:29.520 for players, you're rooting for uniforms because the players they 0:01:29.520 --> 0:01:33.039 come and they go. But anyway, the Liberty Bowl is 0:01:33.040 --> 0:01:37.560 coming up three thirty airtime today, and that'll be Dan 0:01:37.640 --> 0:01:41.360 Horde and Tony Pike and I believe Moeggar is down 0:01:41.400 --> 0:01:45.600 there too in Memphis. All of that on our horizon. Look, 0:01:45.640 --> 0:01:47.280 the one thing I think we all want to be 0:01:47.520 --> 0:01:49.800 in twenty twenty six is better than what we were 0:01:49.840 --> 0:01:52.600 in twenty twenty five. I think, both as people in 0:01:52.720 --> 0:01:55.760 our personal life and our family life, at our job. 0:01:55.880 --> 0:01:57.680 I mean, it'd be pretty sad if you didn't want 0:01:57.720 --> 0:01:59.600 to be better than you were last year in any 0:01:59.640 --> 0:02:02.680 of those things. I also think we all want to 0:02:02.720 --> 0:02:06.400 be better off financially at twenty twenty six than what 0:02:06.480 --> 0:02:10.120 we were in twenty twenty five. But that requires a 0:02:10.120 --> 0:02:12.480 little bit of work, not a lot of work, a 0:02:12.520 --> 0:02:14.880 little bit of work. And if you work at it 0:02:15.080 --> 0:02:19.160 coupled with what should be coming this year with tax cuts, 0:02:20.040 --> 0:02:23.040 it could be that way. So you're saying, well, okay, 0:02:23.160 --> 0:02:26.400 little bit of work, a little bit, what's the work here? Well, 0:02:26.520 --> 0:02:30.920 the work is strengthening your safety net. Look for other 0:02:31.000 --> 0:02:37.239 income opportunities and listen to Mark Hamrick from bankrate dot com. 0:02:37.280 --> 0:02:42.160 He is their chief financial analyst. This is a guy 0:02:42.240 --> 0:02:44.720 who's been around for a while. In fact, at one 0:02:44.800 --> 0:02:50.320 point he ran the business news operation for the Associated 0:02:50.360 --> 0:02:53.919 Press in Washington, DC. Did that for twenty years, past 0:02:54.000 --> 0:02:59.440 president of the National Press Club in Washington, DC. And 0:02:59.720 --> 0:03:03.640 the survey is out for twenty twenty six, and this 0:03:03.800 --> 0:03:06.919 survey from bank rate says one in three, about thirty 0:03:06.960 --> 0:03:11.160 four percent of us say we believe our personal finances 0:03:11.160 --> 0:03:14.720 will get better in twenty twenty six. Eleven percent of 0:03:14.800 --> 0:03:18.080 us believe it will significantly get better. Now. That's down 0:03:18.880 --> 0:03:21.800 from where it was in twenty twenty four. Younger generation 0:03:22.000 --> 0:03:24.919 more optimistic. Why not, they have more opportunity at their feet. 0:03:25.680 --> 0:03:28.560 Among those who believe their personal finances will get better 0:03:28.639 --> 0:03:32.640 in twenty twenty six, the top reason is rising income, 0:03:33.440 --> 0:03:37.600 followed by better spending habits. So what else can we do? 0:03:38.360 --> 0:03:41.240 The aforementioned Mark Hamricks standing by it, and I want 0:03:41.240 --> 0:03:44.880 to get him on today because it all starts, well, 0:03:44.880 --> 0:03:47.240 it started yesterday, but it all starts really from a 0:03:47.280 --> 0:03:51.320 business standpoint, this coming Monday, Mark how are you on 0:03:51.360 --> 0:03:53.480 this glorious day after New Year's Day? 0:03:54.040 --> 0:03:56.400 Ken, There's no one I'd rather be able to speak with, 0:03:56.520 --> 0:03:58.280 and that's such a great opportunity. 0:03:58.320 --> 0:04:00.000 I appreciate your kindness very much. 0:04:00.560 --> 0:04:03.240 Well, I'm looking at this survey and it's on a 0:04:03.360 --> 0:04:06.680 number of levels. It's encouraging. On a number of levels, 0:04:06.680 --> 0:04:10.280 it's not. I guess the discouraging part is that only 0:04:10.320 --> 0:04:11.880 one in three of us a little more than that, 0:04:12.400 --> 0:04:15.480 believe that our personal finances will get better in twenty 0:04:15.520 --> 0:04:18.960 twenty six. And it cuts across political lines, as most 0:04:18.960 --> 0:04:21.840 of these things do. But if you're a Democrat, you're 0:04:21.839 --> 0:04:24.719 not so optimistic. If you're a Republican, you're a little 0:04:24.760 --> 0:04:28.240 more optimistic, and if you're younger, you're a little more optimistic. 0:04:28.320 --> 0:04:31.440 So I suppose there is the good and the bad, 0:04:31.839 --> 0:04:33.400 I guess is the way I would put it. Right. 0:04:34.320 --> 0:04:37.320 Well, it's America, right, I mean, that's number one. And 0:04:37.440 --> 0:04:41.800 we talk all the time about the economy which favors 0:04:41.880 --> 0:04:45.279 the wealthy here so called K shaped economy. People who 0:04:45.320 --> 0:04:48.040 own their home, people who are invested in the stock market, 0:04:48.440 --> 0:04:52.680 and they are just building further financial momentum that of 0:04:52.720 --> 0:04:57.880 course existing within the result of inflation, which is affordability 0:04:57.960 --> 0:05:04.240 challenges which have really, in a sense unfairly claim casualties 0:05:04.279 --> 0:05:08.000 among middle income and lower income Americans. So you've basically 0:05:08.040 --> 0:05:10.760 got something for everybody in the economy, and you've got 0:05:10.800 --> 0:05:14.120 something or not for everybody, as it's seeing in this 0:05:15.040 --> 0:05:17.520 in this survey. But I would say ken, and this 0:05:17.560 --> 0:05:20.080 isn't undermine the survey because I love the survey. 0:05:20.320 --> 0:05:22.440 I run this survey every year. 0:05:23.040 --> 0:05:26.440 Is that it is somewhat backward looking, meaning that people 0:05:26.480 --> 0:05:29.960 were reflecting on their recent experience with their personal finances 0:05:30.000 --> 0:05:33.440 and the economy, and none of us really know what 0:05:33.640 --> 0:05:36.400 the year will bring and then and that's part of 0:05:36.440 --> 0:05:39.960 the risk and opportunity. So if things turn out for 0:05:40.000 --> 0:05:43.080 the better, then maybe people will be more even more optimistic, 0:05:43.080 --> 0:05:45.040 and we run this a year from now, and if 0:05:45.040 --> 0:05:48.040 it's not, then you know that'll be the consequence as well. 0:05:48.279 --> 0:05:51.520 Well. I guess the current inflation rate is three point 0:05:51.920 --> 0:05:55.920 one percent, and that's up a little bit from where 0:05:55.920 --> 0:05:59.680 it was last month, but the fact of the matter 0:05:59.800 --> 0:06:02.880 is it's down significantly from where it was in the 0:06:02.920 --> 0:06:06.159 summer of twenty twenty two. So I don't know, do 0:06:06.200 --> 0:06:09.159 you think Americans are still paralyzed by that, or do 0:06:09.200 --> 0:06:11.400 you think they're actually feeling And I know this is 0:06:11.440 --> 0:06:14.080 your opinion, it's not necessarily as whole, but do you 0:06:14.080 --> 0:06:17.080 think they're actually feeling that when they go to shop, 0:06:17.200 --> 0:06:20.000 either for groceries or for something during the holiday season? 0:06:20.000 --> 0:06:20.599 What do you think? 0:06:21.279 --> 0:06:23.719 Well, first of all, they tell us that that is 0:06:23.760 --> 0:06:24.200 the case. 0:06:24.240 --> 0:06:27.920 When those who expressed the pessimistic point of view or 0:06:27.960 --> 0:06:32.159 ask why is your outlook for worse personal finances? Number 0:06:32.200 --> 0:06:37.760 one was continued high inflation, interestingly enough, in a very 0:06:37.760 --> 0:06:43.160 political environment, and this, of course a national survey where 0:06:43.240 --> 0:06:48.559 we have politically polarized views. Four out of ten said 0:06:48.800 --> 0:06:52.560 they're pessimistic because of quote the work by elected officials, 0:06:52.560 --> 0:06:54.760 and you know, I would paraphrase that to say, perhaps 0:06:54.839 --> 0:06:59.240 the lack of work by elected officials as well, but 0:06:59.360 --> 0:07:02.120 you know, can Here's an important distinction with respect to 0:07:02.160 --> 0:07:04.800 your question, and that is, I know you are a 0:07:05.000 --> 0:07:09.640 very well informed individual, and your questions are always the 0:07:09.680 --> 0:07:13.320 best that I get in the many media interviews that 0:07:13.400 --> 0:07:18.200 I do. Most Americans don't look at the rate of inflation. 0:07:18.360 --> 0:07:22.120 They look at their lived experience with affordability issues, and 0:07:22.480 --> 0:07:25.240 that's why they go off when they see something that 0:07:25.360 --> 0:07:28.120 like eggs have gone from two today dollars a dozen, 0:07:28.360 --> 0:07:32.200 even though that's not going to have particularly massive consequence 0:07:32.240 --> 0:07:35.360 on their personal finances, and more recently spent things like coffee, 0:07:35.400 --> 0:07:35.640 you know. 0:07:35.680 --> 0:07:36.160 The drill. 0:07:36.680 --> 0:07:41.440 So the reality is it's about affordability. Inflation is something 0:07:41.480 --> 0:07:45.400 that creates affordability challenges or not. And so you know, 0:07:45.960 --> 0:07:50.160 a three percent annual increase of inflation means you've gone 0:07:50.280 --> 0:07:53.440 up a couple of more stare steps with the price 0:07:53.600 --> 0:07:58.000 changes that have occurred roughly twenty five percent since early 0:07:58.040 --> 0:08:01.320 two thousand and twenty, I should. 0:08:01.080 --> 0:08:04.800 Say, yeah, and you're right. It is more of an 0:08:04.800 --> 0:08:07.320 experience than it is in number. I think it's it's 0:08:07.360 --> 0:08:09.640 always been that way. The number seems to exist for 0:08:09.720 --> 0:08:13.840 political purposes, and the experience exists for the rest of us. 0:08:14.200 --> 0:08:17.760 The good in this report that I saw is that 0:08:18.400 --> 0:08:21.160 four and five of us, in fact, it comes to 0:08:21.160 --> 0:08:24.800 eighty five percent have financial goals for twenty twenty six, 0:08:25.160 --> 0:08:28.800 and of those four and five of us, the main 0:08:28.880 --> 0:08:33.360 financial goal is to create is to create an environment 0:08:33.400 --> 0:08:36.520 for themselves where they pay down debt and have more 0:08:36.600 --> 0:08:40.280 control of spending. Look, the government might not have more 0:08:40.320 --> 0:08:43.640 control of its spending it's incumbent upon us to have 0:08:43.720 --> 0:08:47.480 it because the banks aren't exactly as forgiving for us 0:08:47.520 --> 0:08:50.240 as they might be for the government. So this is good. 0:08:50.240 --> 0:08:53.280 I think that people understand you can't live the rest 0:08:53.280 --> 0:08:55.320 of your life in debt, or you're just going to 0:08:55.360 --> 0:08:58.200 live the rest of your life in squalors. So I 0:08:58.200 --> 0:09:00.960 think that's that's something I think I take out of 0:09:01.000 --> 0:09:04.240 this that's really really positive, And. 0:09:04.160 --> 0:09:07.600 It's also meaningful, Ken, in the sense of, you know, 0:09:08.040 --> 0:09:10.880 if we were to start our financial lives as you 0:09:10.960 --> 0:09:15.560 and I young men again, that certainly would be something 0:09:15.600 --> 0:09:18.480 that I would have tried to correct my earlier behavior with. 0:09:18.520 --> 0:09:23.760 But I also note the second part of the goals 0:09:24.200 --> 0:09:27.720 in ranking here, which is fourteen percent of Americans say 0:09:27.760 --> 0:09:31.040 they want to get a higher paying job or additional income. 0:09:31.520 --> 0:09:33.920 And you know, we just had a job report. It 0:09:34.000 --> 0:09:37.520 was relatively lackluster, the unemployment rate at the highest level 0:09:37.600 --> 0:09:41.160 in four years, but still at historically a low level. 0:09:41.200 --> 0:09:44.280 And Ken, I'm sure you see, as I do almost 0:09:44.320 --> 0:09:48.280 every day, just how enterprising people are in this economy, 0:09:48.600 --> 0:09:51.120 many of whom are people who've come to the United 0:09:51.160 --> 0:09:54.200 States for the opportunity to work and perhaps escape some 0:09:54.280 --> 0:09:58.160 horrible things, or at least less than optimal things in 0:09:58.200 --> 0:10:02.880 their home country. Point is that there is opportunity out there. 0:10:03.000 --> 0:10:05.640 It may not be you know, a slam dunk, to 0:10:05.720 --> 0:10:08.640 use a sports analogy with respect to employment, but so 0:10:08.679 --> 0:10:11.559 many people take advantage, for example, of the gig economy, 0:10:11.960 --> 0:10:14.520 or we've had surveys in the past that told us 0:10:14.520 --> 0:10:18.760 that the youngest of Americans a pretty fair percentage want 0:10:18.760 --> 0:10:20.000 to start their own companies. 0:10:20.160 --> 0:10:22.440 So there is opportunity out there. 0:10:22.480 --> 0:10:26.280 And sometimes I think I might be part of the 0:10:26.360 --> 0:10:29.600 problem in the sense that we talk so nuanced about 0:10:29.679 --> 0:10:33.120 the way the economy is changing, and the reality is that, 0:10:33.200 --> 0:10:35.280 you know, we can to some degree create our own 0:10:35.360 --> 0:10:37.800 reality out there through enterprise and hard work. 0:10:38.040 --> 0:10:41.600 You know, you raise an interesting scenario. If I went 0:10:41.679 --> 0:10:44.760 back and talked to my thirty five year old self, 0:10:44.800 --> 0:10:48.200 it would be a rather lengthy conversation in it. But 0:10:48.240 --> 0:10:50.040 if there's one thing that you could go back and 0:10:50.080 --> 0:10:53.320 talk to your thirty five your old self with regards 0:10:53.360 --> 0:10:55.120 to finances, what would it be? 0:10:55.240 --> 0:10:58.760 You know, probably three things, Ken, and I'll just sort 0:10:58.800 --> 0:11:01.200 of level set the ground a little bit. Is that 0:11:01.320 --> 0:11:03.960 I came from a very much working class family where 0:11:04.040 --> 0:11:07.600 money was not discussed at all. If anything, it was 0:11:07.640 --> 0:11:11.000 discussed in the context of a situation that wasn't going 0:11:11.040 --> 0:11:13.880 particularly well for my parents, and so I had to 0:11:13.960 --> 0:11:17.640 learn everything essentially on my own and through experience, and 0:11:17.640 --> 0:11:20.000 then other than great opportunity to do the work I 0:11:20.080 --> 0:11:20.959 do these days. 0:11:21.080 --> 0:11:22.360 But again, three things. 0:11:22.440 --> 0:11:24.760 Number One, I did have a job when I was 0:11:24.800 --> 0:11:27.920 fifteen in radio, by the way, in coffee Bill, Kansas, 0:11:27.960 --> 0:11:30.960 not far from where you worked once in Tulsa, and. 0:11:33.920 --> 0:11:35.000 So I did have income. 0:11:35.320 --> 0:11:37.160 I should have done a better job of putting that 0:11:37.240 --> 0:11:39.319 income to work through investing in saving. 0:11:39.400 --> 0:11:40.120 That's number one. 0:11:40.160 --> 0:11:42.640 And if I had saved in the equivalent of an 0:11:42.679 --> 0:11:46.559 S and P mutual fund back then, i'd. 0:11:45.720 --> 0:11:49.240 Be talking to you from a yacht right now. That's 0:11:49.320 --> 0:11:49.920 number one. 0:11:51.000 --> 0:11:54.280 Secondly, I would have been more diligent about managing debt 0:11:54.320 --> 0:11:56.200 because I did not do a good job. 0:11:55.960 --> 0:11:58.479 With that when I was early in my career. 0:11:58.200 --> 0:12:02.000 And making let's say sub are incomes and broadcasting that 0:12:02.200 --> 0:12:05.880 both people are familiar with that scenario. But I would 0:12:05.920 --> 0:12:08.360 say those are the two major things I've been very 0:12:08.400 --> 0:12:12.240 blessed with my career. But the payoff for that was 0:12:12.280 --> 0:12:14.040 a little long in coming. 0:12:14.920 --> 0:12:17.839 Yeah, yeah, it is it's it's interesting. I mean, that's 0:12:18.200 --> 0:12:21.679 that's that's an interesting dynamic if and it's an interesting 0:12:21.720 --> 0:12:23.400 thing to sit down and think about. At some point, 0:12:23.480 --> 0:12:25.240 what would you what would you say to yourself? So 0:12:25.640 --> 0:12:29.120 maybe you're at a different destination in life. Mark Comrick 0:12:29.280 --> 0:12:31.559 is our guest. He joined bank Grade twelve years ago, 0:12:31.760 --> 0:12:35.120 twenty thirteen. He is the guy at bank Rate and 0:12:35.200 --> 0:12:37.000 it'd worked for many, many years. He mentioned he worked 0:12:37.000 --> 0:12:41.000 in radio, also was business news for Associated Press Broadcasts 0:12:41.040 --> 0:12:44.000 for two decades and past president of the National Press Club. 0:12:44.520 --> 0:12:46.680 We keep hearing, and I want to just crystal ball 0:12:46.720 --> 0:12:49.160 twenty twenty six a little bit. We keep hearing from 0:12:49.400 --> 0:12:53.120 the administration, the Trump administration, Scott Best in particular, that 0:12:53.480 --> 0:12:55.720 it is going to be a robust twenty twenty six. 0:12:55.800 --> 0:12:58.560 You just wait and see what happens. All of this stuff, 0:12:58.600 --> 0:13:01.280 the tariffs is going to pay off. Often. We might 0:13:01.320 --> 0:13:03.760 even be getting two thousand dollars checks each of us 0:13:03.800 --> 0:13:06.600 from the president. And I'm thinking to myself, well, yeah, 0:13:06.720 --> 0:13:08.920 I guess that could happen. But a lot of times 0:13:09.559 --> 0:13:12.280 in politics it's paid no attention to the man behind 0:13:12.320 --> 0:13:15.200 the curtain. You know. It's I just don't I just 0:13:15.280 --> 0:13:18.360 don't know where we're going, and I'm not sure anybody does. 0:13:18.440 --> 0:13:21.600 But if you had to pick between encouraged or discouraged, 0:13:21.840 --> 0:13:22.400 what would it be. 0:13:23.280 --> 0:13:26.120 I just wrote a piece about this for LinkedIn that'll 0:13:26.120 --> 0:13:27.480 show up later this year. 0:13:28.160 --> 0:13:31.840 The Federal Reserve in its meeting recently actually upgraded the 0:13:31.840 --> 0:13:35.800 AULA for twenty twenty six. And among the reasons is that, 0:13:36.120 --> 0:13:39.240 for example, the tax bill will take effect and whether 0:13:39.320 --> 0:13:42.080 you love hate or somewhere in between, the so called 0:13:42.120 --> 0:13:44.640 one Big Beautiful Bill, it is a tax cut and 0:13:44.640 --> 0:13:47.880 there's going to be more money going into American's bank 0:13:47.920 --> 0:13:51.960 accounts because of income tax refunds. That's going to prove, 0:13:52.160 --> 0:13:55.719 that's going to provide some tail winds pushing the economy 0:13:56.000 --> 0:13:59.120 forward early in the year. I obviously can you know 0:13:59.200 --> 0:14:01.480 me well enough that I don't align myself with any 0:14:01.520 --> 0:14:05.440 politician that's that would be foolish. 0:14:05.600 --> 0:14:09.080 But well there's that. 0:14:10.160 --> 0:14:13.439 But you know, their primary motive is to employ rhetoric 0:14:13.440 --> 0:14:17.080 toward a political end, and it's our job, and I 0:14:17.120 --> 0:14:20.520 think we both do it with trust, is to try 0:14:20.560 --> 0:14:23.200 to see through that. And so I'm telling you that 0:14:23.560 --> 0:14:27.720 based on everything I can see and you know the facts, 0:14:27.920 --> 0:14:30.320 I think there are reasons to be optimistic for twenty 0:14:30.360 --> 0:14:30.960 twenty six. 0:14:31.040 --> 0:14:31.760 Are there risks? 0:14:31.840 --> 0:14:32.040 There? 0:14:32.120 --> 0:14:33.400 Sure are If. 0:14:33.280 --> 0:14:36.280 We think about the things that really hindered the economy 0:14:36.320 --> 0:14:39.640 in twenty twenty five, Two of the three were self 0:14:39.680 --> 0:14:44.240 inflicted tariffs, the federal government shut down, and persistent inflation. 0:14:44.400 --> 0:14:48.360 I think inflation probably should be alleviated somewhat in twenty 0:14:48.400 --> 0:14:52.400 twenty six, But geopolitically, I'm very worried because the world 0:14:52.520 --> 0:14:53.960 is an unsafe place right now. 0:14:54.040 --> 0:14:56.200 If just one thing sort of. 0:14:56.200 --> 0:14:59.840 Unraveled and you name, you know, you name the location, 0:15:00.680 --> 0:15:03.680 much the same as Russia's invasion of Ukraine created another 0:15:03.760 --> 0:15:07.560 leg up for inflation, that could really be the one 0:15:07.640 --> 0:15:11.680 thing that knocks us out of Kilder. But those things 0:15:11.720 --> 0:15:14.280 always exist in the sense of a risk. So I'm 0:15:14.360 --> 0:15:17.280 sort of looking to measure the things I can measure, 0:15:17.320 --> 0:15:19.800 and I think between the pig is moving through the 0:15:19.840 --> 0:15:22.560 python and the sense of one time price adjustments with 0:15:23.280 --> 0:15:26.840 tariffs that should further level out in the coming year, 0:15:26.960 --> 0:15:30.560 And so I'm hoping we get better news with less inflation, 0:15:30.800 --> 0:15:34.080 that we have more affordability out there. For Americans, they 0:15:34.080 --> 0:15:36.680 get the benefit of the tax cut and perhaps the 0:15:36.720 --> 0:15:40.120 worst of the job market woes will be behind us. 0:15:40.160 --> 0:15:42.400 And also we also get a bit of a push 0:15:42.440 --> 0:15:44.960 early in the year because if they can avoid another 0:15:45.040 --> 0:15:48.720 federal government shutdown at the end of January, then we 0:15:48.800 --> 0:15:51.440 should be able to restore some, not all, the lost 0:15:51.480 --> 0:15:55.040 economic activity that was caused by that unnecessary event. 0:15:55.760 --> 0:15:59.200 The pig is moving through the python. Well that'll be 0:15:59.240 --> 0:16:04.320 in my few days. Yes, indeed, Mark Hambrick, Happy new 0:16:04.400 --> 0:16:06.880 year for you and for your family. A robust twenty 0:16:06.920 --> 0:16:09.640 twenty six and we will visit down the road. Thank you. 0:16:10.440 --> 0:16:12.400 The same to you, my friend, Thanks so much. I 0:16:12.440 --> 0:16:14.800 appreciate it him. They'll look forward to speaking with you 0:16:14.840 --> 0:16:15.720 again in the new year. 0:16:15.840 --> 0:16:21.240 Yes, sir, Yes, sir, Mark Hamrick Bankgreat dot Com. Of 0:16:21.280 --> 0:16:24.440 those who believe their personal finances will not improve next year, 0:16:24.480 --> 0:16:28.200 the top reason by a wide margin is continued high inflation. 0:16:29.560 --> 0:16:34.640 Well this was done then, the I guess the survey 0:16:34.800 --> 0:16:38.840 was done prior to the inflation numbers coming out for 0:16:39.040 --> 0:16:43.920 the month of November. I mean, it's inflation is coming out. 0:16:44.000 --> 0:16:47.200 The problem is Trump said he was going to lower inflation, 0:16:47.320 --> 0:16:51.440 and in essence he has. But inflation is a compounded number. 0:16:51.920 --> 0:16:54.120 So when you hear well, inflation is at two point 0:16:54.240 --> 0:16:57.240 nine percent. Yeah, well that's two point nine percent on 0:16:57.360 --> 0:17:00.880 top of where it was the year before. And if 0:17:00.920 --> 0:17:03.120 you go back to the bad old days of Biden 0:17:04.280 --> 0:17:07.720 when inflation was it nine percent, that was nine percent 0:17:07.800 --> 0:17:12.600 above where it was the year before. So it's shipping 0:17:12.600 --> 0:17:15.440 away at This is not anything that's going to happen overnight, 0:17:15.520 --> 0:17:19.760 but the indicators are. It's it's coming down, interest rates 0:17:20.320 --> 0:17:22.199 coming down. The Fed is going to have a new 0:17:22.320 --> 0:17:26.880 leader after May. I guess of this year. Jerome Palace 0:17:26.880 --> 0:17:30.160 has been very reticent to lower the prime He's been 0:17:30.200 --> 0:17:33.840 doing it in twenty five about a quarter percent is 0:17:33.840 --> 0:17:36.320 what he's been doing it. He's very proditious on that. 0:17:36.359 --> 0:17:39.600 And it's not going to effect the cost of a 0:17:39.720 --> 0:17:42.159 house or the mortgage of a house directly, but it 0:17:42.200 --> 0:17:45.000 will have an effect on it. So these are the 0:17:45.040 --> 0:17:47.679 things hopefully that it will jump start this thing and 0:17:47.720 --> 0:17:49.800 get it back on the track again. I think it is. 0:17:50.320 --> 0:17:53.359 You look at energy rates. Energy rates are back on 0:17:53.400 --> 0:17:57.160 the track. Diesel fuel is coming down. That's what powers 0:17:57.200 --> 0:18:00.679 this country. It gets product from point to point B. 0:18:01.280 --> 0:18:03.880 But it's not going to happen overnight. So mixed bag 0:18:03.920 --> 0:18:09.200 here on the bankrate dot Com analysis for twenty twenty six. 0:18:09.480 --> 0:18:11.480 It's probably be a good thing to hang on to 0:18:11.600 --> 0:18:13.880 and see where we are in a year. Right, We're 0:18:13.920 --> 0:18:16.920 going to file it right there, coming up on twelve, 0:18:17.000 --> 0:18:19.120 twenty six, it's the Average American in for the Great 0:18:19.119 --> 0:18:27.640 American News Radio seven hundred WLW. I don't know about 0:18:27.640 --> 0:18:32.359 the boys this summer, but what about now, I could 0:18:32.440 --> 0:18:36.000 use one of those heat waves this summer. Welcome back 0:18:36.080 --> 0:18:38.480 the Average American in for the Great American on this 0:18:38.720 --> 0:18:42.040 January second, twenty twenty six. Great to w with us. 0:18:42.040 --> 0:18:44.840 We have used football this afternoon, Yes one more time. 0:18:45.760 --> 0:18:49.320 Those who have remained in uniform are going to play 0:18:49.359 --> 0:18:51.959 today for the University of Cincinnati. It's I mean, it's not. 0:18:52.240 --> 0:18:54.720 Some of these teams that show up for bowl games. 0:18:54.800 --> 0:18:57.560 They're a shadow of what they were in the regular season, 0:18:58.720 --> 0:19:01.840 and some are not. Some have their full go and 0:19:01.880 --> 0:19:04.800 that's exactly what Navy has today. The team that you 0:19:04.880 --> 0:19:07.600 see will face. Of course, in the Naval Academy, there 0:19:07.640 --> 0:19:14.520 is no such thing as the portal. The portal probably 0:19:14.560 --> 0:19:17.760 gets you on a boat. No Navy, there is no 0:19:17.880 --> 0:19:20.840 such thing as that you are in one of the 0:19:20.960 --> 0:19:24.320 major institutions military institutions and you go on and serve 0:19:24.359 --> 0:19:28.800 this country in uniform, so their entire football team will 0:19:28.800 --> 0:19:32.639 be there today. It's a football team that runs the ball, run, 0:19:32.720 --> 0:19:37.040 They run an option offense, very difficult to defend, and 0:19:37.080 --> 0:19:40.880 they have a quarterback that runs it marvelously. And you see, 0:19:40.880 --> 0:19:44.199 of course, doesn't have its quarterback. Brendan Sorosby is in 0:19:44.320 --> 0:19:47.920 the portal going to somewhere as you have to be determined, 0:19:48.640 --> 0:19:51.439 as are several other players. Several players just sitting it 0:19:51.480 --> 0:19:55.119 out getting ready for the NFL Draft or the Senior 0:19:55.160 --> 0:19:58.639 Bowl or whatever. But we will have all the play 0:19:58.640 --> 0:20:00.760 by play for you beginning at three. I'm here to 0:20:00.840 --> 0:20:03.600 three thirty to help you get ready for that and 0:20:03.880 --> 0:20:06.280 very happy about it. We talk a lot about what 0:20:06.320 --> 0:20:11.000 twenty twenty six will bring. We were talking about financial prosperity, 0:20:11.040 --> 0:20:14.000 and we're talking about health and all of that. One 0:20:14.040 --> 0:20:17.320 thing I hope it brings is a more appreciation, a 0:20:17.400 --> 0:20:23.040 better appreciation for employees. I just think that there is 0:20:23.119 --> 0:20:26.840 a pervasive attitude throughout business in this country that the 0:20:26.880 --> 0:20:29.679 smartest people are the people that run it, and the 0:20:29.720 --> 0:20:32.639 rest of the people that work there are just worker 0:20:32.720 --> 0:20:37.080 bees to get the job done. All of these corporate 0:20:38.800 --> 0:20:42.320 all of these corporate giants, all of these c suite managers. 0:20:42.359 --> 0:20:45.520 They yap about culture, but in the final analysis, there 0:20:45.560 --> 0:20:47.800 is no culture except get the job done. And then 0:20:47.840 --> 0:20:51.200 when they don't need you anymore, what do they do? Audios? 0:20:52.400 --> 0:20:54.840 Don't let the door hit you where the good lord splitcher. 0:20:55.680 --> 0:20:59.320 And it's even worse now because there is a tendency 0:20:59.400 --> 0:21:04.600 among big companies like Amazon among others, to fire or 0:21:04.720 --> 0:21:10.080 let go of employees remotely by zoom or some other things. 0:21:11.119 --> 0:21:13.400 I mean, it has happened with US. I mentioned Amazon, 0:21:14.320 --> 0:21:18.720 some online companies, US mortgage Company for example, Better dot 0:21:18.760 --> 0:21:22.639 Com fired nine hundred workers over zoom this past year. Carvana. 0:21:22.960 --> 0:21:25.600 You hear a lot about Carvana. They let twenty five 0:21:25.680 --> 0:21:29.480 hundred workers go in the same way. And it seems 0:21:29.480 --> 0:21:32.040 to me, if you're going to hire somebody and the 0:21:32.119 --> 0:21:36.800 hiring is a personal process, then why shouldn't the termination 0:21:37.000 --> 0:21:41.159 be a personal process. It was a movie made about that, 0:21:41.280 --> 0:21:44.840 I think years ago. We'll find out now from somebody 0:21:44.880 --> 0:21:48.400 who believes that remote firings are just not a good thing. 0:21:49.200 --> 0:21:52.879 He is John Bowerman. John Bowerman is the chief operating 0:21:52.960 --> 0:21:58.320 officer of Stealth consulting, which works with companies to try 0:21:58.320 --> 0:22:00.639 and make them better. That's what consultants. And one of 0:22:00.680 --> 0:22:04.280 the ways you make companies better is to better appreciate 0:22:04.320 --> 0:22:07.879 the people that actually do the work for you. And 0:22:07.960 --> 0:22:09.920 I wanted to get John on today to talk about 0:22:09.920 --> 0:22:12.600 this because this is a trend that's disturbing. I don't know, 0:22:12.640 --> 0:22:17.200 we seem to be a more distant society. We seem 0:22:17.280 --> 0:22:19.760 to be a society that would rather text each other 0:22:19.800 --> 0:22:22.720 than talk to each other. But I wanted to get 0:22:22.720 --> 0:22:25.840 his thoughts on this because he has a company that 0:22:26.080 --> 0:22:29.680