1 00:00:07,400 --> 00:00:13,200 Speaker 1: This is America's Trucking Network with Kevin Gordon. Look over. 2 00:00:13,720 --> 00:00:16,720 Speaker 2: Thanks for tuning in on this Wednesday morning. We got 3 00:00:16,760 --> 00:00:20,840 Speaker 2: a couple of very interesting economic reports, plus got some 4 00:00:20,920 --> 00:00:24,079 Speaker 2: good news on the oil front as far as gas prices, 5 00:00:24,200 --> 00:00:26,480 Speaker 2: et cetera, how that's going to affect gas prices down 6 00:00:26,480 --> 00:00:29,120 Speaker 2: the road, and kind of an update on what's going 7 00:00:29,160 --> 00:00:31,920 Speaker 2: on over in Iran. But let's start off with the 8 00:00:32,040 --> 00:00:35,239 Speaker 2: National Federation of Independent Business. They come out on a 9 00:00:35,280 --> 00:00:38,519 Speaker 2: monthly basis with a survey. Of course, then when you're 10 00:00:38,520 --> 00:00:41,800 Speaker 2: talking about you know, basically a whole group of national 11 00:00:42,080 --> 00:00:46,760 Speaker 2: independent business groups across the entire country. That gives you 12 00:00:46,840 --> 00:00:49,199 Speaker 2: a very good flavor in terms of what's going on 13 00:00:49,320 --> 00:00:51,680 Speaker 2: as far as the market, boots on the ground, closest 14 00:00:51,720 --> 00:00:54,520 Speaker 2: to the people kind of information. And this is what 15 00:00:54,560 --> 00:01:00,800 Speaker 2: they call there's their optimism index and what they are 16 00:01:00,880 --> 00:01:04,640 Speaker 2: seeing and what they are hearing from their members. And 17 00:01:04,680 --> 00:01:09,200 Speaker 2: of course, you know, this being a survey, it's voluntary, 18 00:01:09,280 --> 00:01:13,080 Speaker 2: so these people are filling this information out on behalf 19 00:01:13,200 --> 00:01:16,360 Speaker 2: not only of their company, but then to share that 20 00:01:16,760 --> 00:01:19,920 Speaker 2: and to be part of the group so that everybody 21 00:01:20,000 --> 00:01:23,080 Speaker 2: kind of gets a feeling for what is going on. Well, 22 00:01:23,120 --> 00:01:25,800 Speaker 2: let's get into the But what's interesting too is that 23 00:01:25,840 --> 00:01:29,199 Speaker 2: when you when I pulled this up this morning because 24 00:01:29,360 --> 00:01:31,720 Speaker 2: the Economic calendar said it was going to be available, 25 00:01:32,240 --> 00:01:34,880 Speaker 2: I thought it was interesting some of the headlines and 26 00:01:34,959 --> 00:01:38,360 Speaker 2: the group that when you Google a story or a 27 00:01:38,440 --> 00:01:41,560 Speaker 2: subject and it gives you, like in a cluster about 28 00:01:41,600 --> 00:01:45,080 Speaker 2: four or five different stories. I found this very interesting 29 00:01:45,720 --> 00:01:48,120 Speaker 2: VT Markets. Now, I don't even know who that group is, 30 00:01:48,160 --> 00:01:50,080 Speaker 2: and I don't know why Google chose to put this 31 00:01:50,160 --> 00:01:54,160 Speaker 2: on the the in the group, but it's a very 32 00:01:54,280 --> 00:01:59,800 Speaker 2: kind of a pessimistic headline. In February, America's nfib now 33 00:02:00,200 --> 00:02:05,240 Speaker 2: Federation of Independent Business Optimism Index fell short, posting ninety 34 00:02:05,240 --> 00:02:08,880 Speaker 2: eight point eight versus the ninety nine point seven forecast, 35 00:02:09,200 --> 00:02:11,480 Speaker 2: so not a big difference in terms of drop. But 36 00:02:11,560 --> 00:02:15,840 Speaker 2: they have to give the negative view of that Advisor Perspectives, 37 00:02:15,880 --> 00:02:17,200 Speaker 2: which is another website. 38 00:02:17,240 --> 00:02:18,480 Speaker 1: I don't know who they are. 39 00:02:18,440 --> 00:02:21,399 Speaker 2: But again Google chooses them to put that up there, 40 00:02:21,440 --> 00:02:24,079 Speaker 2: which means I guess there's a certain bias as far 41 00:02:24,080 --> 00:02:27,080 Speaker 2: as Google is concerned. The information that you get, well, 42 00:02:27,800 --> 00:02:31,520 Speaker 2: you know that you've experienced that, I'm sure over the 43 00:02:31,600 --> 00:02:36,079 Speaker 2: last several years where certain articles that you're looking for 44 00:02:36,120 --> 00:02:40,480 Speaker 2: that used to be towards the top of the listing 45 00:02:40,560 --> 00:02:44,040 Speaker 2: in terms of the search, those are buried two or 46 00:02:44,040 --> 00:02:47,280 Speaker 2: three pages back sometimes and you get more of a 47 00:02:47,520 --> 00:02:50,560 Speaker 2: liberal vent bent on some of the stories. But anyway, 48 00:02:51,320 --> 00:02:55,920 Speaker 2: this particular grouping says NFIB Small Business Survey, optimism declines, 49 00:02:56,320 --> 00:02:59,079 Speaker 2: but uncertainty lessons now going. 50 00:02:58,880 --> 00:03:00,760 Speaker 1: Right to the website itself. 51 00:03:00,960 --> 00:03:06,440 Speaker 2: NFIB National Federation Independent Business New NFIB Survey Small Businesses 52 00:03:06,520 --> 00:03:09,560 Speaker 2: report higher sales and less uncertainty. 53 00:03:10,040 --> 00:03:12,040 Speaker 1: So that's their headlines. 54 00:03:12,320 --> 00:03:16,079 Speaker 2: And yet these other knuckleheads out there, spoon fed regurgitators 55 00:03:16,080 --> 00:03:19,200 Speaker 2: in mainstream media have to alter the headline a bit 56 00:03:19,440 --> 00:03:21,720 Speaker 2: to make it seem a little bit more pessimistic than 57 00:03:21,760 --> 00:03:25,600 Speaker 2: what it actually is. New NFIB Survey Small Business report 58 00:03:25,720 --> 00:03:30,400 Speaker 2: higher sales, less uncertainty. Optimism on main street drops slightly 59 00:03:30,440 --> 00:03:35,720 Speaker 2: in February, while labor quality and sales improve. The index 60 00:03:35,760 --> 00:03:40,160 Speaker 2: fell point five a half a percentage point in February, 61 00:03:40,240 --> 00:03:43,160 Speaker 2: so not really that big a deal to ninety eight. 62 00:03:43,240 --> 00:03:47,440 Speaker 2: Point eight remains slightly above the fifty two year average 63 00:03:47,480 --> 00:03:52,720 Speaker 2: of ninety eight. The uncertainty index decrease decreased three points 64 00:03:52,760 --> 00:03:58,080 Speaker 2: from January to eighty eight. According to the NFIB Chief 65 00:03:58,120 --> 00:04:04,000 Speaker 2: Economists Bill Dunkelberg, although optimism declines slightly, small businesses report 66 00:04:04,120 --> 00:04:07,720 Speaker 2: feeling more certain in February as they look forward to 67 00:04:07,760 --> 00:04:12,000 Speaker 2: coming months. High sales and increased profits made February a 68 00:04:12,080 --> 00:04:15,800 Speaker 2: more positive month for the many owners. But competition from 69 00:04:15,880 --> 00:04:19,800 Speaker 2: large businesses is putting stress on main street firms as 70 00:04:19,839 --> 00:04:23,799 Speaker 2: they navigate the current economic climate. And again you would 71 00:04:23,839 --> 00:04:27,400 Speaker 2: expect the large big box stores and the bigger businesses 72 00:04:27,640 --> 00:04:31,400 Speaker 2: to really try to squeeze their prices because they can 73 00:04:31,480 --> 00:04:34,520 Speaker 2: operate on a little bit tighter margin as opposed to 74 00:04:34,640 --> 00:04:38,120 Speaker 2: some of the smaller businesses, so they may be holding 75 00:04:38,200 --> 00:04:43,240 Speaker 2: down their prices, which then adversely affects the small businesses. 76 00:04:43,640 --> 00:04:46,760 Speaker 2: Also with their increased buying, they can buy things at 77 00:04:46,760 --> 00:04:50,560 Speaker 2: a discount, So it's got to be nimble. And generally, 78 00:04:50,800 --> 00:04:54,200 Speaker 2: as far as National Federation of Independent Business and even 79 00:04:54,240 --> 00:04:59,800 Speaker 2: Small Business, I tend to appreciate the more personal attention 80 00:05:00,160 --> 00:05:04,279 Speaker 2: get at a small business, even though their prices may 81 00:05:04,279 --> 00:05:08,520 Speaker 2: be slightly higher. But if you look around and if 82 00:05:08,560 --> 00:05:11,960 Speaker 2: you kind of navigate through some of these things, you 83 00:05:12,040 --> 00:05:16,280 Speaker 2: actually can find less prices at some of these smaller organizations, 84 00:05:16,320 --> 00:05:20,000 Speaker 2: but again that's just me personally. The unemployment index ticked 85 00:05:20,080 --> 00:05:22,240 Speaker 2: up nearly a point in February to one o three 86 00:05:22,279 --> 00:05:25,760 Speaker 2: point five, three and a half points above its historic 87 00:05:25,880 --> 00:05:30,039 Speaker 2: average of one hundred and again the two point three 88 00:05:30,160 --> 00:05:32,520 Speaker 2: and they're talking about what the average was a twenty 89 00:05:32,560 --> 00:05:34,360 Speaker 2: twenty five, So good news there. 90 00:05:34,680 --> 00:05:36,560 Speaker 1: Fifteen percent of small business. 91 00:05:36,200 --> 00:05:40,240 Speaker 2: Owners sided labor quality as their single most important problem, 92 00:05:40,680 --> 00:05:45,240 Speaker 2: down one percent from January, and the fourth consecutive monthly declined. 93 00:05:45,760 --> 00:05:49,120 Speaker 2: Last time labor quality reported as the top issue was 94 00:05:49,160 --> 00:05:52,440 Speaker 2: as low was in April of twenty twenty, which was 95 00:05:53,040 --> 00:05:57,400 Speaker 2: the beginning stages of the pandemic. Fifteen percent of small 96 00:05:57,440 --> 00:06:01,560 Speaker 2: business owners sided labor I has already said that February, 97 00:06:02,320 --> 00:06:05,320 Speaker 2: fifty nine percent small business owners reported that supply chain 98 00:06:05,720 --> 00:06:10,920 Speaker 2: disruptions affected their business to some extent. That's a decrease 99 00:06:10,960 --> 00:06:12,120 Speaker 2: though from the previous month. 100 00:06:13,160 --> 00:06:15,000 Speaker 1: Let me see. Let's see some of these other gems 101 00:06:15,000 --> 00:06:15,240 Speaker 1: in here. 102 00:06:15,320 --> 00:06:19,799 Speaker 2: Net percent of owners owners raising average selling price fell 103 00:06:19,920 --> 00:06:25,480 Speaker 2: two points, so they're less likely to increase prices. Seasonally adjusted, 104 00:06:25,520 --> 00:06:30,360 Speaker 2: a net thirty four percent reported raising compensation for their employees. 105 00:06:31,320 --> 00:06:37,040 Speaker 2: Frequency of reports of positive profit trends rose seven points. 106 00:06:37,240 --> 00:06:41,200 Speaker 2: So again they're thinking in terms of their profit going up, 107 00:06:41,360 --> 00:06:45,479 Speaker 2: and that's up a number percentage per seven percent from 108 00:06:45,520 --> 00:06:49,960 Speaker 2: the previous period. When asked to evaluate their overall health 109 00:06:50,000 --> 00:06:54,520 Speaker 2: of their businesses, twelve percent rated it as excellent, fifty 110 00:06:54,839 --> 00:06:59,840 Speaker 2: five percent as good, twenty six percent as fair, and 111 00:07:00,120 --> 00:07:05,599 Speaker 2: five percent as poor. That is pretty good numbers. Season adjusted. 112 00:07:05,920 --> 00:07:09,440 Speaker 2: Thirty three percent of small business owners reported job openings 113 00:07:09,440 --> 00:07:14,040 Speaker 2: they could not fill, which was up two points from January. 114 00:07:14,720 --> 00:07:17,960 Speaker 2: Fifty four percent of owners reported capital outlays in the 115 00:07:18,080 --> 00:07:22,800 Speaker 2: last six months. That's down from six points, down six 116 00:07:22,840 --> 00:07:27,000 Speaker 2: points from January. Those making expenditures, thirty seven percent reported 117 00:07:27,040 --> 00:07:31,200 Speaker 2: spending on new equipment, twenty eight percent acquired vehicles, fifteen 118 00:07:31,320 --> 00:07:35,280 Speaker 2: percent improved or expanded facilities, ten percent spent money on 119 00:07:35,320 --> 00:07:40,880 Speaker 2: new fixers and furniture, five percent acquired new buildings. So again, 120 00:07:41,120 --> 00:07:44,600 Speaker 2: their optimism as far as small business is concerned, is 121 00:07:44,760 --> 00:07:51,000 Speaker 2: very strong. Increasing small business reported higher sales, less uncertainty 122 00:07:51,320 --> 00:07:52,080 Speaker 2: going forward. 123 00:07:52,520 --> 00:07:53,840 Speaker 1: That is some good news. 124 00:07:54,120 --> 00:07:57,720 Speaker 2: Taking a look at National Association of Realtors and the 125 00:07:58,560 --> 00:08:03,640 Speaker 2: existing home sales, looking at the headlines again, you have 126 00:08:03,680 --> 00:08:07,520 Speaker 2: a situation where actually it's not pretty not all that 127 00:08:07,680 --> 00:08:11,040 Speaker 2: bad in terms of the headlines that were being shown 128 00:08:11,400 --> 00:08:15,120 Speaker 2: existing home sales up in February, market faces spring challenges. 129 00:08:15,880 --> 00:08:19,040 Speaker 2: Let me see existing home sales increase, media price hits 130 00:08:19,080 --> 00:08:24,520 Speaker 2: record all across the board, it seems like most of 131 00:08:24,560 --> 00:08:27,920 Speaker 2: these headlines seem to be a little bit positive going 132 00:08:27,960 --> 00:08:31,760 Speaker 2: to the National Association of Realtors, going directly to the source. 133 00:08:32,160 --> 00:08:34,680 Speaker 2: As you know, if you're going to be talking about 134 00:08:34,679 --> 00:08:37,680 Speaker 2: a particular story, it's best to go to the source 135 00:08:37,760 --> 00:08:40,560 Speaker 2: rather than somebody that's read the story or the press 136 00:08:40,600 --> 00:08:44,840 Speaker 2: release from the organization and then they interpret what the 137 00:08:44,920 --> 00:08:45,559 Speaker 2: numbers mean. 138 00:08:46,480 --> 00:08:48,200 Speaker 1: Overall, it appears as. 139 00:08:48,080 --> 00:08:52,760 Speaker 2: Though that Home Sales report a one point seven percent 140 00:08:53,000 --> 00:08:57,000 Speaker 2: increase in existing home sales seasonally adjusted annual rate of 141 00:08:57,480 --> 00:09:03,760 Speaker 2: four point zero nine million in February, two point four 142 00:09:03,800 --> 00:09:08,160 Speaker 2: percent increase in unsold inventory one point two nine million units, 143 00:09:08,200 --> 00:09:11,640 Speaker 2: equal to three point eight months supply. So if no 144 00:09:11,720 --> 00:09:14,520 Speaker 2: other homes came on the market based on the current volume, 145 00:09:14,880 --> 00:09:19,280 Speaker 2: you'd burned through that inventory in about three point eight months. 146 00:09:19,400 --> 00:09:23,920 Speaker 2: So that's not bad considering where interest rates are. We've 147 00:09:23,920 --> 00:09:26,079 Speaker 2: got more to talk about on this. I'm Kevin Gordon, 148 00:09:26,080 --> 00:09:30,520 Speaker 2: americastruck A Network seven hundred WLW WE left off in 149 00:09:30,600 --> 00:09:34,240 Speaker 2: this National Association of Realtors existing home sales report shows 150 00:09:34,559 --> 00:09:38,640 Speaker 2: one point seven percent increase in February. Now, given what 151 00:09:38,800 --> 00:09:42,920 Speaker 2: we had in terms of weather and weather related instances 152 00:09:43,080 --> 00:09:47,440 Speaker 2: and you know, just overall winter, melee is, I'm surprised 153 00:09:47,480 --> 00:09:50,559 Speaker 2: the numbers are up. But that's a good thing. One 154 00:09:50,600 --> 00:09:53,120 Speaker 2: point four percent decrease in existing Let me see, year 155 00:09:53,160 --> 00:09:55,920 Speaker 2: over year, it was a one point four percent decrease 156 00:09:56,000 --> 00:09:59,600 Speaker 2: in existing home sales. Point three percent increase in median 157 00:10:00,080 --> 00:10:04,000 Speaker 2: home sales up to three hundred and ninety eight thousand 158 00:10:04,080 --> 00:10:08,880 Speaker 2: dollars for a typical median home. In other words, just 159 00:10:08,920 --> 00:10:12,520 Speaker 2: as many number of homes were sold above that number 160 00:10:12,800 --> 00:10:15,959 Speaker 2: as below that number, sisting home sales increased by one 161 00:10:16,320 --> 00:10:20,160 Speaker 2: is the story one point one hello, increased by one 162 00:10:20,160 --> 00:10:23,640 Speaker 2: point seven percent month over month in February, according to 163 00:10:23,960 --> 00:10:28,240 Speaker 2: National Association on Home or Realtors. Month over month, sales 164 00:10:28,320 --> 00:10:32,600 Speaker 2: rose in the midwest, south West, and fell in the northeast. 165 00:10:32,920 --> 00:10:35,800 Speaker 2: Year over year, sales rose in the south and fell 166 00:10:35,920 --> 00:10:39,360 Speaker 2: in the northeast, Midwest, and west. Now, you can expect 167 00:10:39,360 --> 00:10:43,120 Speaker 2: that in the Northeast because of some of the weather 168 00:10:43,160 --> 00:10:46,959 Speaker 2: that where they were experiencing up there. Let me see 169 00:10:47,080 --> 00:10:50,800 Speaker 2: they're looking through here. They're going through the various various 170 00:10:51,080 --> 00:10:55,480 Speaker 2: segments and the various regions of the country. All seemed 171 00:10:55,480 --> 00:10:59,720 Speaker 2: to be fairly decent. Going basically to their summary page 172 00:10:59,760 --> 00:11:03,959 Speaker 2: on the very front page of this article, they kind 173 00:11:03,960 --> 00:11:08,400 Speaker 2: of summarize everything. Four point zero nine million were sold 174 00:11:08,480 --> 00:11:11,280 Speaker 2: month over month year over year, you know, one point 175 00:11:11,320 --> 00:11:14,840 Speaker 2: seven percent up from the previous month year over year, 176 00:11:14,920 --> 00:11:17,400 Speaker 2: was one point four percent down, but that was more 177 00:11:17,480 --> 00:11:22,120 Speaker 2: weather related. In total number of homes for sale one 178 00:11:22,160 --> 00:11:26,800 Speaker 2: point two nine million, let's see monthly supply. We talked 179 00:11:26,800 --> 00:11:29,520 Speaker 2: about that three point eight and then the median home 180 00:11:29,559 --> 00:11:33,720 Speaker 2: price at three hundred and ninety eight thousand. Now, from 181 00:11:33,760 --> 00:11:38,400 Speaker 2: a story that was on Reuters, it's interesting what they 182 00:11:38,440 --> 00:11:41,560 Speaker 2: have to say home sales, and this was kind of 183 00:11:41,640 --> 00:11:48,160 Speaker 2: a surprising headline from a otherwise more liberal news organization. 184 00:11:48,800 --> 00:11:53,280 Speaker 2: US existing home sales unexpectedly increased in February as low 185 00:11:53,320 --> 00:11:57,120 Speaker 2: mortgage rates and a moderation in the house prices growth 186 00:11:57,720 --> 00:12:01,520 Speaker 2: pulled buyers back into the market. Still, tight supply could 187 00:12:01,600 --> 00:12:06,719 Speaker 2: constrain activity during these springs selling months. The report from 188 00:12:06,720 --> 00:12:10,600 Speaker 2: the National Association Realtors on Tuesday offered some glimmers of 189 00:12:10,600 --> 00:12:14,000 Speaker 2: hope for the housing market recovery. 190 00:12:14,320 --> 00:12:16,720 Speaker 1: The affordability subtenly improved. 191 00:12:16,960 --> 00:12:21,079 Speaker 2: The share of first time home buyers was the highest 192 00:12:21,200 --> 00:12:22,880 Speaker 2: in five years. 193 00:12:24,000 --> 00:12:26,559 Speaker 1: See, once those. 194 00:12:26,440 --> 00:12:29,960 Speaker 2: Interest rates start coming down, and as we've talked about 195 00:12:30,080 --> 00:12:33,440 Speaker 2: several times on this program, the amount the size of 196 00:12:33,760 --> 00:12:36,679 Speaker 2: based on the interest rates and what your payment would be. 197 00:12:37,520 --> 00:12:41,360 Speaker 2: Looking at what your income level is, you could afford 198 00:12:41,520 --> 00:12:46,079 Speaker 2: a lot bigger house at the same income. When interest 199 00:12:46,160 --> 00:12:49,679 Speaker 2: rates are down, your dollars go further. The amount that 200 00:12:49,720 --> 00:12:52,520 Speaker 2: you're paying on a monthly basis goes down, so you're 201 00:12:52,559 --> 00:12:56,400 Speaker 2: saving there. And if interest rates were down, where they 202 00:12:56,440 --> 00:13:00,360 Speaker 2: should be as far as mortgage rates are can concerned, 203 00:13:00,720 --> 00:13:04,000 Speaker 2: they should be down in the four percent range rather 204 00:13:04,040 --> 00:13:08,000 Speaker 2: than in the six five, high fives and low sixes. 205 00:13:08,600 --> 00:13:09,720 Speaker 1: That's just my opinion. 206 00:13:09,760 --> 00:13:12,760 Speaker 2: But you know, looking at the housing markets and the 207 00:13:13,160 --> 00:13:17,040 Speaker 2: mortgage rates in other countries, we are two percent to 208 00:13:17,120 --> 00:13:20,440 Speaker 2: three percent higher than some of those in the other 209 00:13:20,880 --> 00:13:22,480 Speaker 2: Western developed countries. 210 00:13:22,760 --> 00:13:25,520 Speaker 1: And so I see no reason other than the. 211 00:13:25,520 --> 00:13:28,960 Speaker 2: Fact that lion Jerry Powell decides that he's going to 212 00:13:29,040 --> 00:13:33,640 Speaker 2: keep the bank rate low or bank rate high the 213 00:13:33,679 --> 00:13:38,040 Speaker 2: borrowing between banks, which then reflects eventually down to the 214 00:13:38,080 --> 00:13:42,079 Speaker 2: individual consumer and to what the banks then wind up 215 00:13:42,320 --> 00:13:46,800 Speaker 2: charging their customers for interest rates on mortgages, and so 216 00:13:47,280 --> 00:13:50,920 Speaker 2: as that comes down, more and more new time first 217 00:13:50,920 --> 00:13:54,120 Speaker 2: time home buyers will come into the market. And it's 218 00:13:54,200 --> 00:13:56,800 Speaker 2: a matter of economics. You look at a certain amount 219 00:13:56,840 --> 00:13:59,280 Speaker 2: of money that you have, and then the house that 220 00:13:59,360 --> 00:14:03,520 Speaker 2: you can afford based on what the mortgage rate would be, 221 00:14:03,640 --> 00:14:06,600 Speaker 2: and then your principle and interest. But when interest rates 222 00:14:06,640 --> 00:14:09,679 Speaker 2: are down, you can actually afford a much higher house. 223 00:14:09,840 --> 00:14:13,800 Speaker 2: And we've gone through those numbers at different interest rates 224 00:14:14,040 --> 00:14:16,439 Speaker 2: and based on the same income, how much you can 225 00:14:16,480 --> 00:14:19,120 Speaker 2: afford as far as a house is concerned. And so 226 00:14:19,880 --> 00:14:22,640 Speaker 2: the more those interest rates come down, the better off 227 00:14:22,680 --> 00:14:25,800 Speaker 2: they'll be. Despite last month's raised in sales, the housing 228 00:14:25,840 --> 00:14:28,360 Speaker 2: market is far from turning the corner. With the Middle 229 00:14:28,360 --> 00:14:33,040 Speaker 2: East conflict, risking higher inflation, which would raise mortgage rates, 230 00:14:33,440 --> 00:14:36,880 Speaker 2: would not necessarily that would have to be done by 231 00:14:36,920 --> 00:14:40,360 Speaker 2: the FED. If inflation was up, then they would raise 232 00:14:40,400 --> 00:14:43,800 Speaker 2: interest rates, but so far inflation has been kept in check. 233 00:14:44,320 --> 00:14:48,000 Speaker 2: US Israeli war against Iran also poses downside risks of 234 00:14:48,000 --> 00:14:51,760 Speaker 2: the labor market and economy through reduced demand from inflation 235 00:14:51,840 --> 00:14:57,800 Speaker 2: and erosion of household wealth due to stock market volatility. 236 00:14:58,360 --> 00:15:02,760 Speaker 2: Now is what's amazing to me is that all last 237 00:15:02,840 --> 00:15:05,760 Speaker 2: year when the stock market and even up to the 238 00:15:05,760 --> 00:15:08,800 Speaker 2: first part of this year, the stock market was on fire. 239 00:15:09,120 --> 00:15:12,040 Speaker 2: They were setting all time records, not just records for 240 00:15:12,080 --> 00:15:14,840 Speaker 2: the month, the day of the week, et cetera, inner day, 241 00:15:14,960 --> 00:15:17,120 Speaker 2: any of that sort of stuff. It was the highest 242 00:15:17,160 --> 00:15:21,640 Speaker 2: totals in the history of the stock market. They didn't 243 00:15:21,680 --> 00:15:24,360 Speaker 2: say back then that, well things are you know, this 244 00:15:24,480 --> 00:15:27,520 Speaker 2: is the upside of this is that prices are going 245 00:15:27,560 --> 00:15:29,920 Speaker 2: to go as lower, people are going to afford more. 246 00:15:30,080 --> 00:15:32,680 Speaker 2: People are going to have more wealth, household wealth, and 247 00:15:32,720 --> 00:15:35,240 Speaker 2: then their affordability of houses come into play. 248 00:15:35,480 --> 00:15:36,800 Speaker 1: They didn't talk about any of that. 249 00:15:36,880 --> 00:15:40,880 Speaker 2: Then all of a sudden, now when we've got these disruption. 250 00:15:40,960 --> 00:15:43,680 Speaker 2: As far as oil prices concerned, they didn't care about 251 00:15:43,720 --> 00:15:44,880 Speaker 2: oil prices coming down. 252 00:15:45,040 --> 00:15:46,680 Speaker 1: Remember we've talked about that. 253 00:15:46,760 --> 00:15:50,640 Speaker 2: At one point, compared to the when Trump first took office, 254 00:15:50,840 --> 00:15:54,080 Speaker 2: oil prices had been down as much as twenty two percent. 255 00:15:54,440 --> 00:15:56,960 Speaker 2: Oil prices were down twenty two percent from when he 256 00:15:57,000 --> 00:15:59,359 Speaker 2: took office, and that was at the start. 257 00:15:59,120 --> 00:15:59,520 Speaker 1: Of the year. 258 00:16:00,040 --> 00:16:04,960 Speaker 2: Gas prices were a full twenty five to forty five 259 00:16:05,040 --> 00:16:08,680 Speaker 2: cents less than what they were during the Biden administration, 260 00:16:08,960 --> 00:16:11,920 Speaker 2: and at the beginning of the Trump administration, nobody talked 261 00:16:11,920 --> 00:16:14,360 Speaker 2: about that in terms of affordability. But now all of 262 00:16:14,400 --> 00:16:17,240 Speaker 2: a sudden, when prices start increasing, Now all of a sudden, 263 00:16:17,280 --> 00:16:20,440 Speaker 2: they're concerned about inflation. They don't talk about the deflation 264 00:16:20,560 --> 00:16:21,480 Speaker 2: in terms of the. 265 00:16:23,760 --> 00:16:24,600 Speaker 1: Gas prices. 266 00:16:24,800 --> 00:16:27,280 Speaker 2: Back during last year, they didn't talk about the run 267 00:16:27,360 --> 00:16:29,840 Speaker 2: up in the stock market, how that made people more 268 00:16:29,920 --> 00:16:32,120 Speaker 2: wealthy if they had four h one ks who they 269 00:16:32,160 --> 00:16:35,840 Speaker 2: were invested in the market. No, they keep downplaying the economy. 270 00:16:36,000 --> 00:16:38,800 Speaker 2: And as I said from the beginning that it seemed 271 00:16:38,840 --> 00:16:42,000 Speaker 2: around Liberation Day, actually from the beginning of the Trump administration, 272 00:16:42,320 --> 00:16:48,200 Speaker 2: they talked about his policies possibly leading to a high inflation, recession, 273 00:16:48,480 --> 00:16:51,280 Speaker 2: and job layoffs, which none of it happened. And at 274 00:16:51,280 --> 00:16:54,400 Speaker 2: some point in time, I don't understand why people consider 275 00:16:54,400 --> 00:16:57,800 Speaker 2: it continuing to listen to the spoon feeder regurgitators, why 276 00:16:57,840 --> 00:17:00,840 Speaker 2: they have so much influence because they have been proven 277 00:17:01,120 --> 00:17:03,880 Speaker 2: wrong time and time and time again. 278 00:17:04,240 --> 00:17:05,800 Speaker 1: I just don't get it. 279 00:17:06,720 --> 00:17:09,560 Speaker 2: Let's see, we're talking about economists pulled by Reuters had 280 00:17:09,600 --> 00:17:13,720 Speaker 2: forecast home sales resales decreasing to a rate of three 281 00:17:13,800 --> 00:17:16,879 Speaker 2: point eighty nine. They came in at four point zho nine, 282 00:17:17,080 --> 00:17:22,440 Speaker 2: So the experts miss that by over two hundred thousand. 283 00:17:23,600 --> 00:17:31,600 Speaker 2: Let's see talking about Charlie Dherty, a senior economist Wells Fargo, affordability, 284 00:17:31,880 --> 00:17:36,879 Speaker 2: though improved around the edges, remains a significant limitation. Let 285 00:17:36,880 --> 00:17:39,840 Speaker 2: me see, home buyers is likely to slowly improve over 286 00:17:39,880 --> 00:17:42,320 Speaker 2: the course of the year, but should continue to run 287 00:17:42,640 --> 00:17:48,439 Speaker 2: a sluggish rate on account of adverse affordability conditions. Now 288 00:17:48,960 --> 00:17:52,919 Speaker 2: we've talked about this again, the fact that if interest 289 00:17:53,000 --> 00:17:56,640 Speaker 2: rates were lower, and if the Federal Reserve and every 290 00:17:56,640 --> 00:18:00,359 Speaker 2: time they talk about lowering interest rates, they say, lower 291 00:18:00,440 --> 00:18:04,119 Speaker 2: interest rates stimulate the economy. If you're looking to stimulate 292 00:18:04,160 --> 00:18:08,159 Speaker 2: the economy, economy and making the economy grow, wouldn't you 293 00:18:08,200 --> 00:18:10,440 Speaker 2: think they'd get the message and say, you know what, 294 00:18:10,560 --> 00:18:13,360 Speaker 2: if we cut interest rates, people can afford more. Their 295 00:18:13,359 --> 00:18:16,520 Speaker 2: credit card rate would come down, their mortgages would come down, 296 00:18:16,680 --> 00:18:19,760 Speaker 2: the stuff that they're paying in terms of small business 297 00:18:19,800 --> 00:18:22,919 Speaker 2: loans taking out to expand or to maintain their business, 298 00:18:23,240 --> 00:18:25,440 Speaker 2: those things would go down. That would then put a 299 00:18:25,520 --> 00:18:29,199 Speaker 2: downward pressure on inflation, and things would become booming. And 300 00:18:29,240 --> 00:18:31,639 Speaker 2: people would have more money to spend and more money 301 00:18:31,640 --> 00:18:35,120 Speaker 2: to go out and buy the things that they want 302 00:18:35,160 --> 00:18:38,560 Speaker 2: to buy instead of trying to figure out, well, this 303 00:18:38,680 --> 00:18:40,720 Speaker 2: interest rate is high over here, so I got to 304 00:18:40,760 --> 00:18:44,680 Speaker 2: shift some money over this direction. Again, line Jerry Powell 305 00:18:44,720 --> 00:18:48,000 Speaker 2: has been behind and has not done a very good 306 00:18:48,080 --> 00:18:51,199 Speaker 2: job in terms of what they say they're trying to 307 00:18:51,240 --> 00:18:55,840 Speaker 2: do in terms of moving or affecting the economy. I'm 308 00:18:55,880 --> 00:18:59,920 Speaker 2: Kevin Gordon, America's Trucking Network seven hundred WLW. 309 00:19:00,480 --> 00:19:02,879 Speaker 3: Here's your trucking forecast for the Try State and the 310 00:19:02,880 --> 00:19:04,959 Speaker 3: rest of the country. In the Tri State over night 311 00:19:05,080 --> 00:19:07,879 Speaker 3: chance of showers and storms, and showers with possible storms 312 00:19:07,880 --> 00:19:10,680 Speaker 3: near daybreak, the low down to sixty seven. Showers and 313 00:19:10,760 --> 00:19:13,240 Speaker 3: storms Wednesday, a slight risk of severe weather, a high 314 00:19:13,280 --> 00:19:16,880 Speaker 3: of seventy six. Partly sunny. Sky is becoming sunny Thursday, 315 00:19:16,880 --> 00:19:20,480 Speaker 3: but colder. The high year fifty, mostly claudi and windy Friday, 316 00:19:20,600 --> 00:19:24,040 Speaker 3: the high year sixty. Nationally widespread storms bringing a severe 317 00:19:24,040 --> 00:19:25,920 Speaker 3: weather thread and a risk of flash flooding across the 318 00:19:25,960 --> 00:19:28,320 Speaker 3: Midwest as well as the central and southern plains Overnight 319 00:19:28,600 --> 00:19:31,959 Speaker 3: that will shift east Wednesday, more lower elevation and coastal 320 00:19:32,080 --> 00:19:35,640 Speaker 3: rain along with higher elevation effected for the Pacific Northwest. Meanwhile, 321 00:19:35,680 --> 00:19:37,800 Speaker 3: well above average temperatures on going for much of the 322 00:19:37,840 --> 00:19:40,720 Speaker 3: eastern half of the US, as record tying or breaking 323 00:19:40,840 --> 00:19:41,880 Speaker 3: high as are possible. 324 00:19:43,760 --> 00:19:48,240 Speaker 2: Seven hundred WLW on Kevin Gordon, this is America's Trucking Network. 325 00:19:48,600 --> 00:19:49,879 Speaker 2: I want to take a look at a oil and 326 00:19:49,920 --> 00:19:52,320 Speaker 2: gas price because they you know, as you've noticed over 327 00:19:52,320 --> 00:19:55,160 Speaker 2: the last couple of days, they have fluctuated tremendously. 328 00:19:55,320 --> 00:19:55,560 Speaker 1: Well. 329 00:19:55,680 --> 00:19:59,239 Speaker 2: Gas prices have been creeping up, but and jumping up 330 00:19:59,280 --> 00:20:04,160 Speaker 2: in some instance, but oil prices have been skyrocketing, falling, 331 00:20:04,680 --> 00:20:07,800 Speaker 2: coming back up, coming back down, and it's been quite 332 00:20:07,840 --> 00:20:10,480 Speaker 2: a roller coaster right. As a matter of fact, yesterday morning, 333 00:20:10,920 --> 00:20:14,639 Speaker 2: I contacted Phil Flynn, a frequent guest on this program. 334 00:20:15,040 --> 00:20:18,679 Speaker 2: He's a senior analyst at Price Price Futures Group. He 335 00:20:18,720 --> 00:20:23,760 Speaker 2: has a frequent contributor to Fox Business News, Fox Weather Channel, CNBC. 336 00:20:24,200 --> 00:20:27,639 Speaker 2: He's talked to, he's interviewed by Reuters in terms of 337 00:20:27,680 --> 00:20:29,000 Speaker 2: what's going on in the oil market. 338 00:20:29,080 --> 00:20:30,399 Speaker 1: So he is an expert in the field. 339 00:20:30,680 --> 00:20:32,600 Speaker 2: A good friend of the show, been on this show 340 00:20:32,640 --> 00:20:35,120 Speaker 2: a couple of times, and I asked him I said, 341 00:20:35,160 --> 00:20:38,119 Speaker 2: you know, have you ever seen oil prices going this 342 00:20:38,240 --> 00:20:41,080 Speaker 2: crazy or seen anything like this? And he said, in 343 00:20:41,119 --> 00:20:44,360 Speaker 2: the thirty plus years that he's been in the business, 344 00:20:44,560 --> 00:20:48,359 Speaker 2: you've seen some areas where like in two thousand and 345 00:20:48,400 --> 00:20:52,120 Speaker 2: eight with a housing crisis, and some of the economic 346 00:20:52,200 --> 00:20:54,920 Speaker 2: downturns that we've seen as far as recessions and so 347 00:20:54,960 --> 00:20:58,320 Speaker 2: on over his career, but nothing like what he's seen 348 00:20:58,359 --> 00:21:01,520 Speaker 2: in the last couple of days. And again all related 349 00:21:01,560 --> 00:21:04,760 Speaker 2: to what's going on over in Iran. With Iran then 350 00:21:04,840 --> 00:21:10,800 Speaker 2: turning around. Instead of you battling who, they're battling, their 351 00:21:10,920 --> 00:21:15,800 Speaker 2: throwing and they're firing missiles at their country the surrounding countries. 352 00:21:16,320 --> 00:21:19,159 Speaker 2: It's like, if we're going down, we're taking everybody with 353 00:21:19,280 --> 00:21:22,240 Speaker 2: us and we don't care. This is just unbelievable in 354 00:21:22,280 --> 00:21:25,560 Speaker 2: their attacks on the oil infrastructure and the oil fields 355 00:21:25,600 --> 00:21:29,040 Speaker 2: and whatnot. Imagine if this country had a nuke, how 356 00:21:29,200 --> 00:21:32,040 Speaker 2: they would hold hostage to everybody in the Middle East. 357 00:21:32,080 --> 00:21:35,600 Speaker 2: It's just insanity and why people don't understand that. And 358 00:21:35,680 --> 00:21:38,480 Speaker 2: see this again, the fact that they declared war on 359 00:21:38,600 --> 00:21:41,320 Speaker 2: US forty seven years ago and we've basically been letting 360 00:21:41,440 --> 00:21:45,119 Speaker 2: them take potshots at us killing our soldiers, manufacturing the 361 00:21:45,160 --> 00:21:49,440 Speaker 2: IEDs that injured and killed our soldiers over in Afghanistan 362 00:21:49,560 --> 00:21:54,040 Speaker 2: and Iraq, and the various wars that there have been 363 00:21:54,160 --> 00:21:57,600 Speaker 2: or over the last twenty thirty years or so ever 364 00:21:57,640 --> 00:22:00,760 Speaker 2: since the war on terrorism began. One of the times 365 00:22:00,760 --> 00:22:02,919 Speaker 2: that they, you know, the attacks on the home front. 366 00:22:03,280 --> 00:22:06,600 Speaker 2: We're seeing this left and right attacks on Israel through 367 00:22:06,600 --> 00:22:11,159 Speaker 2: the proxies of Hamas Hesblah and the Huti rebels and 368 00:22:11,200 --> 00:22:14,720 Speaker 2: again trying to jam up things at the Strait of Horror, 369 00:22:14,720 --> 00:22:17,040 Speaker 2: moves coming through the Red Sea to the Gulf of 370 00:22:17,080 --> 00:22:21,360 Speaker 2: Oman and then on into the Indian Ocean. They are 371 00:22:21,640 --> 00:22:24,080 Speaker 2: they are a cancer. They are a cancer in that 372 00:22:24,160 --> 00:22:26,960 Speaker 2: part of the part of the region of the world. 373 00:22:27,160 --> 00:22:29,760 Speaker 2: And imagine if they were to have a nuke, or 374 00:22:29,800 --> 00:22:32,400 Speaker 2: ever acquire a nuke, how they would be the bully 375 00:22:32,560 --> 00:22:33,000 Speaker 2: over there. 376 00:22:33,119 --> 00:22:34,520 Speaker 1: There'd been a bully all along. 377 00:22:34,840 --> 00:22:37,120 Speaker 2: It's just a matter of time where a new kid 378 00:22:37,160 --> 00:22:40,040 Speaker 2: comes to town, walks into school and punches the person 379 00:22:40,080 --> 00:22:42,880 Speaker 2: in the face. And that's just my two cents worth 380 00:22:42,920 --> 00:22:45,800 Speaker 2: on that. But look at oil and gas prices. Oil 381 00:22:46,680 --> 00:22:50,000 Speaker 2: yesterday ended as I said, I've talked to Phil Flynn 382 00:22:50,000 --> 00:22:52,320 Speaker 2: and he's never seen anything like this, he said, it 383 00:22:52,680 --> 00:22:56,720 Speaker 2: quite a wild ride. But again the uncertainty of what 384 00:22:56,920 --> 00:22:59,800 Speaker 2: was going on, what they had been seeing, some of 385 00:22:59,800 --> 00:23:02,720 Speaker 2: the rumors that had come forth the night before where 386 00:23:02,720 --> 00:23:05,320 Speaker 2: we saw gap or oil prices shoot up to almost 387 00:23:05,320 --> 00:23:08,160 Speaker 2: one hundred and twenty dollars a barrel and then immediately 388 00:23:08,200 --> 00:23:11,320 Speaker 2: plunged back down to eighty five barrel dollars a barrel. 389 00:23:11,600 --> 00:23:14,720 Speaker 2: So you know, they plunged twenty five dollars a barrel 390 00:23:14,840 --> 00:23:19,640 Speaker 2: just in one day, fifteen to twenty actually thirty five 391 00:23:19,680 --> 00:23:22,160 Speaker 2: dollars a barrel in just one day period of time. 392 00:23:22,440 --> 00:23:25,400 Speaker 2: But yesterday, looking at the markets or the oil prices, 393 00:23:25,640 --> 00:23:28,600 Speaker 2: oil prices, West Texas intermediate crud was at eighty six 394 00:23:28,640 --> 00:23:32,080 Speaker 2: dollars and sixty eight cents. It was up eight dollars 395 00:23:32,160 --> 00:23:34,800 Speaker 2: and nine cents on I'm sorry, down eight dollars and 396 00:23:34,880 --> 00:23:37,800 Speaker 2: nine cents from the previous closed or eight point five 397 00:23:37,920 --> 00:23:41,159 Speaker 2: four percent. Brent crude is at ninety one dollars and 398 00:23:41,200 --> 00:23:44,320 Speaker 2: sixty seven cents. That is down seven dollars and twenty 399 00:23:44,440 --> 00:23:48,520 Speaker 2: nine cents or seven thirty seven. Now, when I looked 400 00:23:48,520 --> 00:23:51,439 Speaker 2: at the numbers yesterday morning, when I got up, I 401 00:23:51,480 --> 00:23:54,760 Speaker 2: looked at where they were, and those numbers had actually 402 00:23:54,800 --> 00:23:58,360 Speaker 2: been down even further. There they were both indexes were 403 00:23:58,400 --> 00:24:02,919 Speaker 2: down around eleven bus a barrel apiece, and then I 404 00:24:02,960 --> 00:24:05,600 Speaker 2: guess eventually by the end of the day creep back 405 00:24:05,680 --> 00:24:08,560 Speaker 2: up another three dollars a barrel. So again, this has 406 00:24:08,600 --> 00:24:12,040 Speaker 2: been quite a wild ride over there, depending upon what 407 00:24:12,560 --> 00:24:15,480 Speaker 2: developments there are in the war, and. 408 00:24:15,440 --> 00:24:16,760 Speaker 1: We'll talk a little bit about that. 409 00:24:17,000 --> 00:24:20,399 Speaker 2: Looking at gasoline prices, gasoline prices on a national average 410 00:24:20,480 --> 00:24:23,679 Speaker 2: nationwide averages three dollars and fifty four cents a gallon. 411 00:24:24,400 --> 00:24:25,800 Speaker 1: Again, when we look. 412 00:24:25,640 --> 00:24:28,320 Speaker 2: At where they were a year ago, we were about 413 00:24:28,359 --> 00:24:32,240 Speaker 2: fifty well, I'm actually about forty five cents up from 414 00:24:32,240 --> 00:24:35,760 Speaker 2: where we were a year ago, but compared to where 415 00:24:35,760 --> 00:24:39,000 Speaker 2: we were just a short month ago, we are now 416 00:24:39,200 --> 00:24:43,160 Speaker 2: up about sixty cents a gallon nationwide average. As far 417 00:24:43,200 --> 00:24:47,880 Speaker 2: as diesel prices are concerned, diesel currently is at four 418 00:24:47,920 --> 00:24:52,200 Speaker 2: dollars seventy eight cents a gallon nationwide. A year ago 419 00:24:52,359 --> 00:24:55,280 Speaker 2: it was at three dollars and sixty cents, and really 420 00:24:55,400 --> 00:24:57,800 Speaker 2: a month ago we were probably around three dollars and 421 00:24:57,840 --> 00:25:02,399 Speaker 2: sixty cents thereabouts. So gas or diesel prices have gone 422 00:25:02,560 --> 00:25:05,760 Speaker 2: up about a dollar ten just from a month ago, 423 00:25:06,119 --> 00:25:10,000 Speaker 2: and so diesel prices are really affected by what's going on, 424 00:25:10,560 --> 00:25:14,800 Speaker 2: but those will come down as oil starts flowing a 425 00:25:14,800 --> 00:25:18,479 Speaker 2: little bit better. Now looking at this, I found this 426 00:25:18,680 --> 00:25:21,520 Speaker 2: very interesting. One of the things in there, they show 427 00:25:21,560 --> 00:25:25,280 Speaker 2: the nationwide high the state that has the highest gasoline 428 00:25:25,280 --> 00:25:30,200 Speaker 2: prices and states that have the lowest gasoline prices. California 429 00:25:30,400 --> 00:25:33,400 Speaker 2: leads the way at five dollars and twenty nine cents 430 00:25:34,160 --> 00:25:38,119 Speaker 2: average across the state, five dollars and twenty nine cents, 431 00:25:38,440 --> 00:25:41,920 Speaker 2: to a low of two dollars and ninety some cents 432 00:25:41,920 --> 00:25:45,200 Speaker 2: in Kansas. I think it's two dollars and ninety two 433 00:25:45,240 --> 00:25:49,800 Speaker 2: cents in Kansas. That is unbelievable. You take into consideration 434 00:25:49,880 --> 00:25:52,840 Speaker 2: that five dollars and twenty nine cents, they are a 435 00:25:52,960 --> 00:25:59,040 Speaker 2: full two dollars and thirty some cents above what the. 436 00:25:58,240 --> 00:26:02,240 Speaker 1: Lowest cost is. And even more surprising. 437 00:26:02,040 --> 00:26:05,760 Speaker 2: If you take a look at what gasoline prices are 438 00:26:05,800 --> 00:26:12,000 Speaker 2: in Hawaii, California is seventy cents higher than what Hawaii is, 439 00:26:13,119 --> 00:26:16,400 Speaker 2: and Hawaii everything on that island. 440 00:26:16,560 --> 00:26:17,920 Speaker 1: Has to be shipped there. 441 00:26:18,280 --> 00:26:21,760 Speaker 2: It's not like you can drive a truck from one 442 00:26:21,800 --> 00:26:24,399 Speaker 2: state to another. You can't drive a truck there and 443 00:26:24,480 --> 00:26:29,160 Speaker 2: drop off petroleum or you are gasoline. Rather, it all 444 00:26:29,200 --> 00:26:31,760 Speaker 2: has to be shipped over there and then pumped out 445 00:26:31,840 --> 00:26:37,200 Speaker 2: and then put to the delivered to the individual gasoline stations. 446 00:26:37,400 --> 00:26:42,360 Speaker 2: And for them, with the transportation costs of shipping all 447 00:26:42,440 --> 00:26:46,840 Speaker 2: that gasoline over to that state, they are still seventy 448 00:26:47,000 --> 00:26:52,000 Speaker 2: cents less than California. And when you look at the rules, 449 00:26:52,040 --> 00:26:56,320 Speaker 2: the regulations, the taxes, everything that is done in California, 450 00:26:56,840 --> 00:26:59,360 Speaker 2: that is what adds to their prices. They are two 451 00:26:59,400 --> 00:27:02,000 Speaker 2: dollars and thirds thirty cents or more higher than the 452 00:27:02,040 --> 00:27:06,440 Speaker 2: lowest gasoline price in the country. And they're still even 453 00:27:06,520 --> 00:27:09,760 Speaker 2: seventy cents higher than a country or than a state 454 00:27:10,080 --> 00:27:13,080 Speaker 2: that has to have everything shipped to it by a 455 00:27:14,160 --> 00:27:18,520 Speaker 2: vessel over there to that state. And the fact that 456 00:27:18,680 --> 00:27:22,120 Speaker 2: they are still lower than California, that tells you exactly 457 00:27:22,160 --> 00:27:26,600 Speaker 2: how mismanaged California is. In my neighborhood, gasoline currently is 458 00:27:26,680 --> 00:27:29,520 Speaker 2: at three dollars and nineteen cents. That is up sixty 459 00:27:29,520 --> 00:27:33,920 Speaker 2: two cents from last week. A high in the area 460 00:27:34,080 --> 00:27:36,479 Speaker 2: is it three dollars and forty nine cents, and that 461 00:27:36,560 --> 00:27:39,400 Speaker 2: is up sixty cents from last week as well. What's 462 00:27:39,440 --> 00:27:42,359 Speaker 2: interesting is that you know you have those gas apps, 463 00:27:42,400 --> 00:27:45,240 Speaker 2: you have those apps that will tell you what gasoline 464 00:27:45,280 --> 00:27:49,280 Speaker 2: prices or diesel prices are in certain parts. This is 465 00:27:49,400 --> 00:27:52,120 Speaker 2: just within my zip code that there is a difference 466 00:27:52,160 --> 00:27:54,919 Speaker 2: between three dollars and nineteen cents and three dollars and 467 00:27:55,000 --> 00:27:56,359 Speaker 2: forty nine cents a gallon. 468 00:27:56,640 --> 00:27:58,200 Speaker 1: That is a thirty cent difference. 469 00:27:58,640 --> 00:28:02,959 Speaker 2: And I don't know about you, but gasoline and certain pumps, 470 00:28:03,000 --> 00:28:06,439 Speaker 2: I mean, there are certain places where you don't know 471 00:28:06,440 --> 00:28:09,040 Speaker 2: where they're getting their gas, but the name gas stations 472 00:28:09,359 --> 00:28:13,760 Speaker 2: that the fact that some are thirty cents lower is 473 00:28:13,760 --> 00:28:16,879 Speaker 2: a savings as far as diesel is concerned. All in 474 00:28:17,040 --> 00:28:21,320 Speaker 2: my zip code, both the high and the low as 475 00:28:21,359 --> 00:28:24,160 Speaker 2: far as diesel is concerned, is three dollars and ninety 476 00:28:24,240 --> 00:28:27,760 Speaker 2: nine cents, So that is up seventy four cents from 477 00:28:27,880 --> 00:28:31,400 Speaker 2: last week. But again both the high and the low. 478 00:28:31,520 --> 00:28:34,479 Speaker 2: So if you're in Campbell County, Kentucky, chances are if 479 00:28:34,520 --> 00:28:37,360 Speaker 2: you go and fill up at a diesel pump, you're 480 00:28:37,400 --> 00:28:40,240 Speaker 2: going to be paying the same there as you are 481 00:28:40,440 --> 00:28:45,200 Speaker 2: in any other spot in the county. So that's interesting. Now, 482 00:28:45,240 --> 00:28:48,040 Speaker 2: what's causing this and what's causing some of the disruptions 483 00:28:48,080 --> 00:28:50,880 Speaker 2: and the overall roller coaster here. 484 00:28:51,040 --> 00:28:52,080 Speaker 1: We'll get to that in a minute. 485 00:28:52,200 --> 00:28:56,680 Speaker 2: I'm Kevin Gordon, America's truck in Network seven hundred WLW. 486 00:28:58,840 --> 00:29:02,720 Speaker 2: This is Constructing Networks seven hundred WLW. 487 00:29:02,800 --> 00:29:03,840 Speaker 1: I'm and Kevin Gordon. 488 00:29:04,160 --> 00:29:06,040 Speaker 2: By the way, if you missed any of our previous 489 00:29:06,080 --> 00:29:08,840 Speaker 2: segments or any of the shows, hit up that iHeartRadio 490 00:29:08,880 --> 00:29:11,240 Speaker 2: app brought to you by our friends at Rush Truck Centers, 491 00:29:11,520 --> 00:29:14,560 Speaker 2: and we certainly appreciate that. Phil Flynn and his Energy 492 00:29:14,600 --> 00:29:18,760 Speaker 2: report yesterday talked to at length about some of the 493 00:29:18,840 --> 00:29:21,240 Speaker 2: other things that are going on in the AILL markets. 494 00:29:21,600 --> 00:29:25,360 Speaker 2: In particular, he talked about that when the announcement was 495 00:29:25,400 --> 00:29:31,320 Speaker 2: done by the Trump administration, talking about that this is 496 00:29:31,360 --> 00:29:34,920 Speaker 2: not going to be a long protracted war. We are 497 00:29:35,080 --> 00:29:37,480 Speaker 2: far ahead of schedule where we thought we were going 498 00:29:37,520 --> 00:29:40,520 Speaker 2: to be, and that this could come to a conclusion quickly. 499 00:29:41,600 --> 00:29:43,880 Speaker 2: I have my doubts about that, because we're not talking 500 00:29:43,920 --> 00:29:46,920 Speaker 2: about saying people. We're not talking about a country that 501 00:29:47,040 --> 00:29:50,440 Speaker 2: concerns themselves with their citizens usually. You know, when you 502 00:29:50,480 --> 00:29:55,200 Speaker 2: go back to the Cold War, one of the ideas 503 00:29:55,200 --> 00:29:59,560 Speaker 2: of deterrence was, you know, the USSR had their nuclear weapons. 504 00:29:59,560 --> 00:30:04,120 Speaker 2: We had nuclear weapons, China had nuclear weapons. And this 505 00:30:04,240 --> 00:30:09,880 Speaker 2: whole idea of mutually assured destruction was key because they 506 00:30:10,000 --> 00:30:12,720 Speaker 2: realized that if they fired on us, we would fire 507 00:30:12,840 --> 00:30:14,960 Speaker 2: back and take out some of their people or a 508 00:30:14,960 --> 00:30:17,240 Speaker 2: lot of their people. They could then you know, back 509 00:30:17,280 --> 00:30:20,840 Speaker 2: and forth and destroy each each other, so that mutually 510 00:30:20,840 --> 00:30:25,840 Speaker 2: assured destruction. Also in that was was the equation that 511 00:30:27,080 --> 00:30:30,360 Speaker 2: you know, whoever was in charge, whether it was a 512 00:30:30,400 --> 00:30:36,800 Speaker 2: Boris Yeltsin, any of the Gorbachev, any of the leaders 513 00:30:36,840 --> 00:30:41,840 Speaker 2: of the uss ARE, they had families, They at least 514 00:30:42,120 --> 00:30:45,239 Speaker 2: loved their families. They had cousins, they had brothers, they 515 00:30:45,280 --> 00:30:48,840 Speaker 2: had relatives in other parts of the uss R in Russia, 516 00:30:49,360 --> 00:30:53,200 Speaker 2: and so being fearful or wanting them to be safe 517 00:30:53,480 --> 00:30:56,560 Speaker 2: kind of held them in check. They would do certain incursions, 518 00:30:56,560 --> 00:30:58,760 Speaker 2: they would do certain things that would you know, try 519 00:30:58,800 --> 00:31:01,800 Speaker 2: to build on their empire, and we try to hold 520 00:31:01,800 --> 00:31:04,520 Speaker 2: them in check and so on. But you're dealing with 521 00:31:04,640 --> 00:31:07,480 Speaker 2: rational people at that point, mostly rational. 522 00:31:07,960 --> 00:31:09,280 Speaker 1: But with these people. 523 00:31:09,160 --> 00:31:15,440 Speaker 2: Now in Iran, they are so dead set on destroying Israel, 524 00:31:16,680 --> 00:31:20,280 Speaker 2: eliminating Israel, and eliminating the United States. You know, the 525 00:31:20,280 --> 00:31:24,120 Speaker 2: Great satans of the world. They don't care about their people. 526 00:31:24,560 --> 00:31:31,120 Speaker 2: They will put their weapons stashes, their missile launchers near schools, 527 00:31:31,240 --> 00:31:35,800 Speaker 2: in schools, near hospitals, etc. So that if they are attacked, 528 00:31:36,000 --> 00:31:39,840 Speaker 2: the likelihood of civilian casualties would go up tremendously, and 529 00:31:39,880 --> 00:31:43,040 Speaker 2: then they could tell the world itself that look how 530 00:31:43,080 --> 00:31:46,040 Speaker 2: brutal these people are. They're killing our children. Well, you're 531 00:31:46,040 --> 00:31:48,120 Speaker 2: the ones that put them in harm's way. You're the 532 00:31:48,160 --> 00:31:51,280 Speaker 2: one that put them as human shields. You are the 533 00:31:51,320 --> 00:31:55,400 Speaker 2: people at fault. You don't put children's schools, et cetera 534 00:31:55,640 --> 00:31:59,000 Speaker 2: near military basis or nuclear facilities. 535 00:31:59,240 --> 00:32:01,120 Speaker 1: I mean, we're in the United States. 536 00:32:01,440 --> 00:32:04,000 Speaker 2: We are now going through the process and looking at 537 00:32:04,000 --> 00:32:08,560 Speaker 2: where certain schools are related in terms of the freeway systems, 538 00:32:08,600 --> 00:32:11,320 Speaker 2: in terms of the fumes coming off of that, or 539 00:32:11,400 --> 00:32:14,840 Speaker 2: in certain industrial areas where the pollution within the city 540 00:32:15,160 --> 00:32:17,600 Speaker 2: isn't very good, and talking about moving. 541 00:32:17,360 --> 00:32:18,280 Speaker 1: Some of those schools. 542 00:32:18,760 --> 00:32:21,080 Speaker 2: But there they're putting them right in the middle of 543 00:32:21,120 --> 00:32:24,480 Speaker 2: harm's way, right next to nuclear facilities, right next to 544 00:32:24,520 --> 00:32:27,400 Speaker 2: military basis, et cetera, because they want to use them 545 00:32:27,400 --> 00:32:30,160 Speaker 2: as human shields. And you're not dealing with rational people. 546 00:32:30,520 --> 00:32:34,200 Speaker 2: They see their navy being destroyed, their air force being destroyed, 547 00:32:34,400 --> 00:32:36,640 Speaker 2: and they're saying we're going to fight to the last man. 548 00:32:37,080 --> 00:32:40,640 Speaker 2: And it's just absolutely insane what we're seeing over there. 549 00:32:40,760 --> 00:32:43,120 Speaker 2: But again Phil Flynn and his Energy Report was talking 550 00:32:43,120 --> 00:32:47,080 Speaker 2: about that prices started coming down, the oil prices started 551 00:32:47,360 --> 00:32:50,800 Speaker 2: backing off their highs when Trump said that this that 552 00:32:50,880 --> 00:32:54,360 Speaker 2: this incursion or this war would not last as long 553 00:32:54,400 --> 00:32:57,880 Speaker 2: as some experts or they even that they even imagined 554 00:32:57,880 --> 00:33:02,160 Speaker 2: it would do. Also, the call from the International Energy 555 00:33:02,200 --> 00:33:05,760 Speaker 2: Agency has been talking about with the oil reserves and 556 00:33:05,800 --> 00:33:08,880 Speaker 2: the strategic Petroleum reserve that each one of these individual 557 00:33:08,920 --> 00:33:13,200 Speaker 2: countries have as far as NATO and as all their members, 558 00:33:13,480 --> 00:33:17,240 Speaker 2: that possibly encourage them to release some of that oil 559 00:33:17,400 --> 00:33:21,520 Speaker 2: onto the market to keep prices down. The PILL also 560 00:33:21,600 --> 00:33:24,280 Speaker 2: pointed out here that there has been some movement in 561 00:33:24,360 --> 00:33:27,120 Speaker 2: terms of ships traveling through the Strait of horm moves. 562 00:33:27,720 --> 00:33:29,640 Speaker 2: One of the things that they've found is that if 563 00:33:29,640 --> 00:33:32,800 Speaker 2: they turn off their transponder as they're going through that 564 00:33:32,880 --> 00:33:35,760 Speaker 2: straight and then turn it on after they come back out, 565 00:33:36,600 --> 00:33:39,440 Speaker 2: the less likelihood of somebody being able to identify them 566 00:33:39,640 --> 00:33:42,200 Speaker 2: and fire or missile at them. So with some of 567 00:33:42,240 --> 00:33:45,320 Speaker 2: the stealth tactics that they're using. There is some traffic 568 00:33:45,360 --> 00:33:47,720 Speaker 2: going through the strait of Horror Moves, which should back 569 00:33:47,800 --> 00:33:50,360 Speaker 2: up or should eliminate some of the backup as far 570 00:33:50,400 --> 00:33:53,320 Speaker 2: as these ships that are anchored outside of that area 571 00:33:53,520 --> 00:33:58,680 Speaker 2: being able to transport whatever goods, energy, fertilizer, any of 572 00:33:58,720 --> 00:34:00,560 Speaker 2: the stuff that goes through there. You know, up to 573 00:34:00,600 --> 00:34:03,960 Speaker 2: twenty percent of the world's oil flows through the Straight 574 00:34:04,000 --> 00:34:06,640 Speaker 2: of Horror Moves and have that tied up is not 575 00:34:06,800 --> 00:34:10,360 Speaker 2: a good thing. So he talks in terms of different 576 00:34:10,520 --> 00:34:13,480 Speaker 2: commercial vessels, how they're being able to do that and 577 00:34:14,239 --> 00:34:16,440 Speaker 2: some of the things that they are doing to avoid 578 00:34:16,760 --> 00:34:19,200 Speaker 2: any of the radar detection which would then put a 579 00:34:19,239 --> 00:34:23,480 Speaker 2: target on them. Dramatic reversal in oil markets could lead 580 00:34:23,480 --> 00:34:26,359 Speaker 2: to lower gasoline prices of the pump, though with a 581 00:34:26,400 --> 00:34:28,320 Speaker 2: typical lag of two to four weeks. 582 00:34:28,719 --> 00:34:30,720 Speaker 1: Now that is interesting. 583 00:34:30,360 --> 00:34:35,479 Speaker 2: Because we saw oil prices go up the first week 584 00:34:35,719 --> 00:34:41,320 Speaker 2: of the war with Iran, and almost immediately gas prices 585 00:34:41,360 --> 00:34:45,520 Speaker 2: started going up ten cents, fifteen cents, twenty cents, et cetera. 586 00:34:46,000 --> 00:34:49,000 Speaker 2: It didn't take the two to four weeks for those 587 00:34:49,040 --> 00:34:52,840 Speaker 2: gas prices to get up. Yet, when gas prices go 588 00:34:52,960 --> 00:34:56,239 Speaker 2: back down, when oil is cheaper, it takes two to 589 00:34:56,320 --> 00:34:59,359 Speaker 2: four weeks for that to filter through to the gas pump. 590 00:34:59,560 --> 00:35:03,080 Speaker 2: This is always been the problem as far as gasoline 591 00:35:03,200 --> 00:35:05,840 Speaker 2: is concerned. We've seen that every time there's been a 592 00:35:05,920 --> 00:35:10,120 Speaker 2: run up and oil prices, how quickly the gasoline prices follow. 593 00:35:10,400 --> 00:35:13,000 Speaker 2: But when the oil prices come down, we don't see 594 00:35:13,000 --> 00:35:15,920 Speaker 2: that dramatic effect. As a matter of fact, much of 595 00:35:16,000 --> 00:35:19,160 Speaker 2: last year, I've talked about how if we're seeing twenty 596 00:35:19,520 --> 00:35:25,880 Speaker 2: twenty five fifteen twenty twenty two percent decreases in oil, 597 00:35:26,280 --> 00:35:30,400 Speaker 2: why aren't we seeing fifteen twenty twenty two percent decrease 598 00:35:30,480 --> 00:35:35,080 Speaker 2: in gasoline. We were seeing gasoline coming down ten percent, 599 00:35:35,440 --> 00:35:39,359 Speaker 2: maybe fifteen percent, but oil was going down twenty two 600 00:35:39,440 --> 00:35:42,239 Speaker 2: to twenty three percent, and so they weren't matching up. 601 00:35:42,400 --> 00:35:45,520 Speaker 2: And I kept asking the question, how come this isn't happening? 602 00:35:45,800 --> 00:35:48,040 Speaker 2: And every time you dig into it, you hear, well, 603 00:35:48,200 --> 00:35:50,360 Speaker 2: you know, it depends on the season. It depends on 604 00:35:50,400 --> 00:35:54,480 Speaker 2: whether reformulating, whether or not they're repairing their refineries, or 605 00:35:55,200 --> 00:35:57,759 Speaker 2: switching to a summer blend or switching out of the 606 00:35:57,760 --> 00:36:00,839 Speaker 2: summer blend. There's always some excuse there, but it never 607 00:36:00,960 --> 00:36:04,120 Speaker 2: quite followed on the following oil prices. But when the 608 00:36:04,160 --> 00:36:07,880 Speaker 2: oil prices start going up, that's when the gas prices 609 00:36:08,080 --> 00:36:11,600 Speaker 2: shoot up as well. And so talking about that, Phil 610 00:36:11,640 --> 00:36:13,600 Speaker 2: Flynn kind of pointed out what was going on in 611 00:36:13,640 --> 00:36:14,600 Speaker 2: the markets and did a. 612 00:36:14,560 --> 00:36:15,440 Speaker 1: Very good job of that. 613 00:36:16,120 --> 00:36:19,040 Speaker 2: As far as Reuters is concerned, they're talking about the 614 00:36:19,080 --> 00:36:26,040 Speaker 2: oil sinking thirteen percent at least initially on Tuesday morning 615 00:36:26,360 --> 00:36:28,680 Speaker 2: and then throughout the day kind of fluctuating to where 616 00:36:28,680 --> 00:36:33,400 Speaker 2: it was wound up being about about ten eleven percent 617 00:36:33,680 --> 00:36:37,839 Speaker 2: below where it was. Oil supplies they're talking about won't 618 00:36:37,880 --> 00:36:40,960 Speaker 2: return quickly. Even if the war ends, Oil supplies won't 619 00:36:41,000 --> 00:36:44,440 Speaker 2: immediately rebound. According to some of the experts, when the 620 00:36:44,440 --> 00:36:47,600 Speaker 2: conflict ends, cranking up the supply chain won't be a 621 00:36:47,719 --> 00:36:51,880 Speaker 2: shift unless you know. What they're not counting on here 622 00:36:52,320 --> 00:36:55,920 Speaker 2: is that there are certain areas that aren't damaged. And 623 00:36:56,360 --> 00:36:59,760 Speaker 2: as we saw down in Venezuela, remember all the experts 624 00:36:59,760 --> 00:37:03,000 Speaker 2: said that when Maduro was captured and brought back here 625 00:37:03,040 --> 00:37:06,240 Speaker 2: for prosecution, that it was going to be weeks before 626 00:37:06,440 --> 00:37:08,799 Speaker 2: the Venezuelans we're going to be able to ramp up 627 00:37:08,840 --> 00:37:11,799 Speaker 2: their production to get it back to any kind of 628 00:37:11,800 --> 00:37:14,680 Speaker 2: semblance of where it had been during its former glory, 629 00:37:15,200 --> 00:37:20,040 Speaker 2: and we proved or it was proved, and that Venezuelas 630 00:37:20,080 --> 00:37:23,799 Speaker 2: started ramping up their oil production almost immediately. There was 631 00:37:23,840 --> 00:37:28,280 Speaker 2: a tremendous effort on the part of the companies going 632 00:37:28,360 --> 00:37:31,480 Speaker 2: in there and getting things started up, getting the licensing 633 00:37:31,600 --> 00:37:35,920 Speaker 2: from the country and permission from the United States. Some 634 00:37:35,960 --> 00:37:38,600 Speaker 2: of the major oil companies go down there and ramp 635 00:37:38,680 --> 00:37:42,080 Speaker 2: up the production. So again, it can be done. It's 636 00:37:42,120 --> 00:37:45,160 Speaker 2: not a matter of weeks or months, or rather it 637 00:37:45,160 --> 00:37:47,319 Speaker 2: can be a matter of less than a month or so. 638 00:37:48,239 --> 00:37:52,359 Speaker 2: Very interesting and kind of listening to some of these 639 00:37:52,480 --> 00:37:56,320 Speaker 2: experts and see where they're coming from. It's always interesting 640 00:37:56,360 --> 00:37:58,959 Speaker 2: to look back on because that's one of the things 641 00:37:59,000 --> 00:38:02,759 Speaker 2: I like to do on this is that you have 642 00:38:02,880 --> 00:38:06,320 Speaker 2: these experts that come in and they say that something 643 00:38:06,440 --> 00:38:09,640 Speaker 2: is going to happen, that this is where things are 644 00:38:09,680 --> 00:38:13,440 Speaker 2: going to head. And yet the spoon feed regurgitators in 645 00:38:13,480 --> 00:38:16,319 Speaker 2: the mainstream media, they never go back and check on that. 646 00:38:16,680 --> 00:38:19,680 Speaker 2: They don't go back months, weeks, even a year later 647 00:38:19,960 --> 00:38:22,480 Speaker 2: to say this is what they had predicted and this 648 00:38:22,520 --> 00:38:25,160 Speaker 2: is what actually happened. It's one of the reasons why 649 00:38:25,520 --> 00:38:28,560 Speaker 2: I generally tend to try to keep some of the 650 00:38:28,600 --> 00:38:30,439 Speaker 2: stories or a lot of the stories that I cover 651 00:38:30,760 --> 00:38:33,279 Speaker 2: here on the program, put them in a file so 652 00:38:33,320 --> 00:38:36,640 Speaker 2: that I've got quick access to that. Some people say, well, 653 00:38:36,640 --> 00:38:39,520 Speaker 2: why don't you put that on a computer disc or whatever, 654 00:38:39,840 --> 00:38:42,440 Speaker 2: but it's it's you know, it's a lot easier if 655 00:38:42,440 --> 00:38:46,439 Speaker 2: you've got a file that's listed as a particular subject matter, 656 00:38:46,760 --> 00:38:50,040 Speaker 2: scrolling through that real quick in terms of the stories, 657 00:38:50,200 --> 00:38:52,160 Speaker 2: and you recognize the story and you can pull that 658 00:38:52,280 --> 00:38:55,160 Speaker 2: out as opposed to seeing it in a file, pulling 659 00:38:55,200 --> 00:38:59,000 Speaker 2: that up, getting the print, you know, getting that up 660 00:38:59,080 --> 00:39:01,480 Speaker 2: on the screen and oh, that's not the right one. 661 00:39:01,640 --> 00:39:03,879 Speaker 2: Maybe I had, maybe I called it a different by 662 00:39:03,920 --> 00:39:07,640 Speaker 2: a different name. So keeping these things and going back 663 00:39:07,680 --> 00:39:10,480 Speaker 2: and taking a look at what had been predicted, what 664 00:39:10,520 --> 00:39:13,440 Speaker 2: people have been talking about and where they think things 665 00:39:13,480 --> 00:39:17,480 Speaker 2: are going is you know, one of the things I 666 00:39:17,520 --> 00:39:20,600 Speaker 2: do on this program that I think that I that 667 00:39:20,760 --> 00:39:24,359 Speaker 2: I like doing is making sure that hold people's feet 668 00:39:24,400 --> 00:39:26,640 Speaker 2: to the fire. And a short time we got left 669 00:39:26,640 --> 00:39:28,680 Speaker 2: before we had to get out of here Ford is 670 00:39:28,680 --> 00:39:32,319 Speaker 2: recalling one point seven four million cars due to rear 671 00:39:32,440 --> 00:39:38,479 Speaker 2: view camera issues. Basically the talking points in here Ford 672 00:39:38,600 --> 00:39:41,200 Speaker 2: is recalling one point seven to four million vehicles following 673 00:39:41,280 --> 00:39:45,759 Speaker 2: issues with their in car computer screens. Company issued two 674 00:39:45,800 --> 00:39:51,360 Speaker 2: separate recall notices related to the infotainment system. The first 675 00:39:51,400 --> 00:39:55,279 Speaker 2: recall occurred due to a case of the review. Due 676 00:39:55,320 --> 00:40:01,400 Speaker 2: to cases of the review, the rear view camera upside down. 677 00:40:02,000 --> 00:40:05,279 Speaker 2: The second was the result of the screen overheating so 678 00:40:05,320 --> 00:40:07,840 Speaker 2: that the rear view camera was not functional. 679 00:40:08,320 --> 00:40:09,920 Speaker 1: So this is. 680 00:40:11,440 --> 00:40:14,280 Speaker 2: I guess well, Ford has been having some real issues, 681 00:40:14,600 --> 00:40:18,440 Speaker 2: but as far as this being just well, it's not 682 00:40:18,640 --> 00:40:23,000 Speaker 2: just the rearview mirror rearview camera. Rather, this could really 683 00:40:23,040 --> 00:40:26,480 Speaker 2: cause some issues if it's not functioning properly. So I'll 684 00:40:26,520 --> 00:40:28,279 Speaker 2: post this on Facebook so you kind of get an 685 00:40:28,320 --> 00:40:32,320 Speaker 2: idea what's going on and where what of the vehicles 686 00:40:32,320 --> 00:40:35,120 Speaker 2: are being affected by this. Well, folks, we're up against clock. 687 00:40:35,320 --> 00:40:37,279 Speaker 2: Stay tuned FORREDI Radio at the top of the hour. 688 00:40:37,640 --> 00:40:42,360 Speaker 2: I'm Kevin Gordon, Americas Struck A Network seven hundred WLW