Speaker 1: This is America's Trucking Network with Kevin Gordon.
Speaker 2: Welcome aboard, Thanks for tuning in as we begin our
Speaker 2: week here on America's truck and Network. What an absolutely
Speaker 2: amazing weekend in the Middle East. You know, I had
Speaker 2: my doubts as to whether or not Hamas was going
Speaker 2: to actually live up to its principles in terms of
Speaker 2: the ceasefire and an actual release of the hostages, based
Speaker 2: on what has happened in the past. There's always been
Speaker 2: this point of going right up to the line and
Speaker 2: then backing off right at the last minute. Now what
Speaker 2: is happened yesterday What we saw were all of the
Speaker 2: twenty remaining living hostages returned to Israel. One of the
Speaker 2: particular hostages, manned by the name of Evan Atan Orr,
Speaker 2: was released from isolation. He been kept underground for seven
Speaker 2: hundred and seven hundred and thirty eight days. I believe
Speaker 2: his walking out of there, he has lost about thirty
Speaker 2: to forty percent.
Speaker 3: Of his body weight.
Speaker 2: You see these stories about the Holocaust and these Jewish.
Speaker 3: Prisoners in Germany.
Speaker 2: They're emaciated bodies, and this is what this guy looked
Speaker 2: like coming out of there. I haven't seen yet the
Speaker 2: pictures of the others. But I imagine being and supposedly
Speaker 2: we are being told that there have been over sixty
Speaker 2: seven thousand or sixty seven hundred one was the number.
Speaker 3: Let me look at this up real quick.
Speaker 2: That there were sixties yeah, sixty seven thousand people in
Speaker 2: Gaza killed by the Israelis, And every time they put
Speaker 2: that up there, it's always said according to the Gaza
Speaker 2: Health Ministry, which is controlled by Hamas, which is a
Speaker 2: propaganda arm, and that we don't really have any accurate
Speaker 2: counts of that.
Speaker 3: Now. I'm sorry.
Speaker 2: I hate to be skeptical on people claiming how many
Speaker 2: people were killed, but you would think the way they
Speaker 2: want to work the propaganda is that if there were
Speaker 2: one hundred and fifty people killed at one time, that
Speaker 2: they would have laid the bodies out and shown everybody
Speaker 2: what happened.
Speaker 3: We haven't seen that.
Speaker 2: We keep hearing reports that, oh, two hundred were killed,
Speaker 2: three hundred were killed. Now it's up to sixty seven thousand.
Speaker 3: Where's the proof.
Speaker 2: There is no independent verification of that, and the spoon
Speaker 2: fed regurgitators in the mainstream media keep talking about that.
Speaker 2: Now the hostage is being released. Twenty remaining living hostages.
Speaker 2: Now Hamas said that they had the bodies of twenty
Speaker 2: eight others that were dead. Guess what, Israel has come out.
Speaker 2: They came out, they went in to get the bodies.
Speaker 2: They came back with only four. The ministry says, we
Speaker 2: just don't know where those other twenty four are. And
Speaker 2: yet Israel as part of this will do anything for peace. Now,
Speaker 2: I want to back up here to the nineteen nineties.
Speaker 2: There was a proposal from the Palestinians that they wanted
Speaker 2: their homeland, that they wanted all this area turned over
Speaker 2: to them. Mind you, this was areas that had been
Speaker 2: taken from Jordan in a time of war, taken from
Speaker 2: Syria in a time of war, and taken from Egypt
Speaker 2: in a time of war as a buffer zone for
Speaker 2: the Israelis in order for them to protect themselves from
Speaker 2: these countries that constantly wanted to attack them. But Palestine,
Speaker 2: the Palestinian authority at the time, wanted that territory as
Speaker 2: part of their group Gaza gol On Heights, West Bank.
Speaker 2: Israel gave them ninety eight percent of that territory and
Speaker 2: a peace offering. They reached out their hand and the
Speaker 2: Palestinians slapped it away. They wanted one hundred percent percent
Speaker 2: or nothing. And I remember at the time I went
Speaker 2: to a function where they were talking about what.
Speaker 3: Was going on in the Middle East.
Speaker 2: And I went and it was put on by, of
Speaker 2: all things, Xavier University, and it was supposedly this It
Speaker 2: was billed as what is going on in the Middle
Speaker 2: East at this time and what peace offerings are there.
Speaker 2: The only people representing there were some academics and a
Speaker 2: bunch of people who supported Palestine. And I'm in this
Speaker 2: room and I'm like an idiot. I raised my hand
Speaker 2: up after they were talking about all this, and I said,
Speaker 2: all I'm hearing about is what's going on as far
Speaker 2: as the Palestinians are concerned. You would think that if
Speaker 2: you're going to hold a seminar in a symposium, that
Speaker 2: you would at least have some of the Israelis up there.
Speaker 2: And you could have heard a pin drop. I was thinking,
Speaker 2: I'm not going to get out of here, but I went.
Speaker 2: I had a conversation with the lady afterwards and she
Speaker 2: was telling me that, well, what you don't understand is
Speaker 2: the way the Palestine Indians negotiate, no matter what you
Speaker 2: offer them, their first response is no, And I said, well,
Speaker 2: I'll tell you what we're supposed to understand you, but
Speaker 2: you don't understand us. When you tell us no, no
Speaker 2: means no and we walk away, where's the understanding on
Speaker 2: the other part. So this is the kind of things
Speaker 2: that I have seen as far as all this stuff
Speaker 2: being experienced over.
Speaker 3: The last well for the last decades.
Speaker 2: Finally there was this peace agreement supposedly with Hamas, and
Speaker 2: yet even with them saying that they are going to
Speaker 2: release all twenty eight of the hostages that are dead,
Speaker 2: they've only released four.
Speaker 3: I'll get this, not only do we get does the
Speaker 3: world get?
Speaker 2: Does Israel get twenty eight hostage or twenty twenty twenty
Speaker 2: living hostages and four dead bodies? Twenty four? What did
Speaker 2: Israel give up? They are releasing? Get this, seventeen hundred
Speaker 2: Palestinians who were convicted of terror over the last several years.
Speaker 2: Those are being released Israel because they want peace. They
Speaker 2: will give up seventeen hundred prisoners to get twenty four.
Speaker 3: That's how much.
Speaker 2: They value lives of Israeli's citizens that they will give
Speaker 2: up every spec of land that they can possibly give up.
Speaker 2: Ninety eight percent back in the nineties of what the
Speaker 2: Palestinians wanted, and even seventeen hundred hostages prisoners. Actually, I
Speaker 2: guarantee you they're not being returned to Hamas, over to
Speaker 2: Gaza and emaciated bodies.
Speaker 3: This is what Israel is up against there.
Speaker 2: One percent of the territory over there, of all the
Speaker 2: entire Arab nations, one percent of the territory there is
Speaker 2: held by Israel. And that's not enough for some of
Speaker 2: these knuckleheads over there. They want Israel obliterated from the map,
Speaker 2: and hopefully with Hamas being decimated, they will not be
Speaker 2: able to rebuild and they'll be peace in the Middle East.
Speaker 2: I get this, okay, over the weekend. Imagine any other
Speaker 2: president being able to do this. Sunday afternoon, Donald Trump
Speaker 2: hops on a plane, flies all the way over to
Speaker 2: the Middle East, gives the speech. Before you know, he
Speaker 2: wants to be there for the signing and to the
Speaker 2: return of these hostages. He was invited by Benjamin Etnahu,
Speaker 2: Prime Minister of Israel. He delivered a speech to the
Speaker 2: Israeli Kanesset, which is their congress, and then flies over
Speaker 2: to Egypt for this peace summit of the Arab nations,
Speaker 2: one other president has that kind of stamina that can
Speaker 2: go fly what halfway around the world, what about an
Speaker 2: eight hour time difference, and yet be able to function
Speaker 2: at a high level and just keep going and then
Speaker 2: go from Israel over to Egypt for another peace summit
Speaker 2: and to coordinate what's going on there. It is just
Speaker 2: absolutely amazing the stamina this man has. The fact that
Speaker 2: nobody wants to give him credit for that, and yet well,
Speaker 2: as we saw on Friday, the Nobel Peace Committee gives
Speaker 2: doesn't even recognize his efforts. It's just absolutely unbelievable. But
Speaker 2: the fact that the Israelis have actually acquired this and
Speaker 2: attained this hopefully, hopefully that this peace will break out there,
Speaker 2: and that the other because a lot of this didn't
Speaker 2: come about on its own, because not only did Israel
Speaker 2: have to put the pressure on Hamas by decimating their
Speaker 2: people or decimating the leadership, but the other Arab countries
Speaker 2: around Arab of Saudi Arabia, Egypt, all the other countries
Speaker 2: said look, we're tired of this crap and we're getting
Speaker 2: to the point where we just aren't going to support
Speaker 2: you anymore. And you guys have got to come to
Speaker 2: the table and do some o an agreement, and if
Speaker 2: this works and we have peace in the Middle East,
Speaker 2: this will be one of the biggest steps in all
Speaker 2: of history, not just recent history, but all of all history.
Speaker 2: We are truly living in some unprecedented times. I'm Kevin Gordon,
Speaker 2: America's Trucking Network seven hundred WLW.
Speaker 1: I need this is the breathing record on America's Trucking
Speaker 1: Network on seven hundred WLW.
Speaker 4: Denny Hamlin scored a devotional victory Sunday and claimed a
Speaker 4: significant career milestone with his dramatic victory in the South
Speaker 4: Point four hundred at Las Vegas Motor Speedway. Hamlin passed
Speaker 4: two cars in the final ten laps and ultimately took
Speaker 4: the lead from his Joe Gibbs Racing teammate Chase Brisco,
Speaker 4: then held off Kyle Larson at the end to claim
Speaker 4: his series' best sixth win of the season, the sixtieth
Speaker 4: of his career, and the victory also secures Hamlin as
Speaker 4: part of the Championship four headed to Phoenix November two,
Speaker 4: looking for his first title shot since twenty twenty one.
Speaker 5: All the factors I just can't imagine there's a win
Speaker 5: and bigger for me than this one, just with all
Speaker 5: you know, with the family, with the significance of it,
Speaker 5: you know, you know, now being back on top.
Speaker 3: For most wins in the season, punching the ticket to
Speaker 3: the four.
Speaker 5: It's all of it all, you know, the fashion in
Speaker 5: which the last ten lasts played out.
Speaker 3: All the above is why I think this means the most.
Speaker 4: An NTT IndyCar Teams test took place Bundy at the
Speaker 4: Indianapolis Motor Speedway road Course. Among the drivers taking part
Speaker 4: included Mick Schumacher for Ray Hall, Letterman Lantic Good Racing
Speaker 4: also taking part, whereas A J Fort Racing, Andretti Global,
Speaker 4: dale Coin Racing and Ed Carpenter Racing teams we need.
Speaker 1: This is the raething repard on America's drugging network on
Speaker 1: seven hundred WLW.
Speaker 4: Say Dennis and ATN you ever wonder how far an
Speaker 4: EV can take you on one charge?
Speaker 2: Well, most people drive about forty miles a day, which
Speaker 2: is seven.
Speaker 3: One hundred WLW, thanks for listening.
Speaker 2: In addition, here's another wrinkle that now kind of interesting
Speaker 2: to look at with the hostages being released yesterday on
Speaker 2: October the thirteenth. Mind you, this was on the same day,
Speaker 2: and as Phil Flynn pointed out in his Energy report,
Speaker 2: and I didn't nobody else had mentioned this that I
Speaker 2: was aware of, that this happened for people of the
Speaker 2: Catholic faith. If you are familiar with our Lady of
Speaker 2: Fatima and the miracles that you performed there and appearing
Speaker 2: before these Portuguese young women or the girl and the boys,
Speaker 2: was it, I think nineteen seventeen that there were these
Speaker 2: doubts as to whether these apparitions actually happened. And on
Speaker 2: October the thirteenth, this miracle of the Sun, the dancing Sun.
Speaker 2: October the thirteenth, twenty nineteen seventeen marked the marian At
Speaker 2: apparition and Fatima, the day on which thousands of people
Speaker 2: more than seventy thousand bore witness to the miracle of
Speaker 2: the Dancing Sun, a miracle that shattered the prevalent belief
Speaker 2: at the time that God was no longer relevant.
Speaker 3: Now, what happened on that day is that there had
Speaker 3: been rain all during the day, and then when the
Speaker 3: blessed virgins appeared to these children, the sky started clearing
Speaker 3: and there was this cloudy, thin veil over the sun.
Speaker 3: So what people could actually look at the sun without
Speaker 3: you know, having the sun's effect in their eyes, and
Speaker 3: it appeared as though the Sun started moving around, and
Speaker 3: at one point act it looked like it was heading
Speaker 3: towards the Earth and then backed off.
Speaker 2: These seventy thousand people at the time. Now, mind you,
Speaker 2: during nineteen seventeen, this was part during World War One.
Speaker 2: We also had, you know, the movement in Russia where
Speaker 2: the Communists were taking over, and all these philosophers the time,
Speaker 2: we're saying that God is dead, God.
Speaker 3: Is no longer relevant.
Speaker 2: Well, because of this miracle of the dancing Sun, a
Speaker 2: lot of people believed, and atheism was knocked on its butt.
Speaker 3: And there's been all.
Speaker 2: Kinds of explanations, and the scientists are always trying to
Speaker 2: explain how this happened. Well, maybe this was a kind
Speaker 2: of a group hysteria type of thing that all. Well,
Speaker 2: maybe because of the atmosphere, with the way the clouds moved,
Speaker 2: it appeared as though the Sun was moving and all
Speaker 2: this sort of stuff. And yet the skeptics, really it's
Speaker 2: always this theory of what might have happened, not what
Speaker 2: actually happened. And it's amazing that the hostages released on
Speaker 2: that day just a little side note there. I just
Speaker 2: thought i'd bring that up, and thanks to Phil Flynn
Speaker 2: from Price Futures Group, who we've had on the program
Speaker 2: a number of times pointing that out. And I thought
Speaker 2: that was kind of interesting for well, at least for
Speaker 2: the purpose of people or Catholics around the world and
Speaker 2: type of thing. Anyway, We've got some economic data on Friday,
Speaker 2: and again it amazes me how much people will go
Speaker 2: through these these hoops in order to.
Speaker 3: Doubt or pour cold water on good news. And now
Speaker 3: let's get let's just get into the numbers.
Speaker 2: Here.
Speaker 3: I saw this story. This was from Friday.
Speaker 2: The headline US economy growing at the fastest pace in
Speaker 2: nearly two years, and the White House has declared it
Speaker 2: explosive growth. More than ever these days, gauging the health
Speaker 2: of the economy, get this, These are the authors of
Speaker 2: these stories that just boggles my mind.
Speaker 3: You know, you just can't produce a story, you have
Speaker 3: to throw something in there that is just totally ridiculous.
Speaker 3: But here it is.
Speaker 2: More than ever these days, gauging the health of the
Speaker 2: economy is almost like trying to gauge the health of
Speaker 2: Schrodinger's cat.
Speaker 3: Like, what the hell is he talking.
Speaker 2: About so being the curious person I am. I dug
Speaker 2: into that and I said, well, I got to figure
Speaker 2: out what this is.
Speaker 3: All right? Are you ready for this?
Speaker 2: Schrodinger's Cat is a thought experiment that illustrates the concept
Speaker 2: of quantum super position in simple terms. Schrodinger said, now
Speaker 2: get this if you like people that have way too
Speaker 2: much time on their hands, all right, said that if
Speaker 2: you place a cat and something that could kill a cat,
Speaker 2: like a radioactive adam, in a box and seal it,
Speaker 2: you would not know if that cat were dead or
Speaker 2: alive until you open the box, So that until the
Speaker 2: box is open, the cat is both dead and alive.
Speaker 2: This is serious thought from somebody that writes an economic story.
Speaker 2: I mean, first of all, who would run an experiment
Speaker 2: like that?
Speaker 3: And where would Peter be as far as that is concerned.
Speaker 2: And the fact that you're trying to prove a theory
Speaker 2: of two things happening at once by explaining it that way,
Speaker 2: that the cat could actually be alive and dead at
Speaker 2: the same time. This is what passes for, you know,
Speaker 2: brilliant economic thought.
Speaker 3: At this point.
Speaker 2: Depending upon who you talk to, it is both on
Speaker 2: the upswing and trending downward, showing promise that also headed
Speaker 2: for a collapse. So they're saying, at the same time,
Speaker 2: the economy is booming, but certain underlying things means that.
Speaker 3: It's headed towards a collapse.
Speaker 2: Okay, take for example the fact that after months of
Speaker 2: dismal job numbers and recessions, the recent White House press
Speaker 2: release touted the US Bureau of Economic Analysis revision of
Speaker 2: the second quarter GDP numbers as explosive growth for the economy,
Speaker 2: along with positive reactions from various financial experts now key
Speaker 2: phrase here, along with positive reactions from various financial experts.
Speaker 2: The revision in question showed that GDP increased to three
Speaker 2: point eight percent in April through June of this year,
Speaker 2: previously reported at well, the original number was around two
Speaker 2: point eight that was revived in the revised in the
Speaker 2: second revision or the first revision actually at three point
Speaker 2: three and now has been revised upwards to three point eight. Now,
Speaker 2: you may recall last week was talking about all these
Speaker 2: different you know.
Speaker 3: As they yanked the curtain back.
Speaker 2: Now that the government has closed and we start looking
Speaker 2: at how these Bureau of Labor Statistics sent this Bureau
Speaker 2: Commerce Department develops all these studies and these surveys and
Speaker 2: whatever as to the strength of the economy, the unemployment numbers,
Speaker 2: the initial jobless claims that all these things are done
Speaker 2: by receiving surveys from people in the industry, and there
Speaker 2: is I mean, there is a date at which these
Speaker 2: things are supposed to be turned in, but they it
Speaker 2: isn't mandatory. So they do their first estimate based on
Speaker 2: the numbers they have. Then the following month, when they
Speaker 2: get more data than they up that or lower that,
Speaker 2: depending upon what information they get, and then the final revision.
Speaker 2: Before the revision, before the first report of the next quarter,
Speaker 2: they come up with their final estimate. So three point
Speaker 2: eight percent is the GDP for the second quarter. And
Speaker 2: I remember what I've been saying since the beginning of
Speaker 2: the year that in my opinion, by the end of
Speaker 2: this year, we will be seeing economic growth between four
Speaker 2: and a half to five percent, I would say, And
Speaker 2: all these other people at the time, mind you, were
Speaker 2: saying that they were expecting by the end of the
Speaker 2: year our economic growth would be around one point eight percent. Now,
Speaker 2: with the current number at three point eight percent and
Speaker 2: my prediction four point five to five percent, I would
Speaker 2: say that three point eight is a hell of a
Speaker 2: lot closer to that number than the one point eight
Speaker 2: that they predicted. Once again, listen to America's struck A Network.
Speaker 2: You'll be so far ahead of the curve they won't
Speaker 2: even see your tail lights. Now, let's go. The GDP
Speaker 2: growth was driven by slowing of imports and greater increase
Speaker 2: in consumer spending led by transportation, financial and insurance services.
Speaker 2: As such, the White House Press release crow that is
Speaker 2: part of the American's economic resurgent, Well, what else are
Speaker 2: you going to call it?
Speaker 3: Now?
Speaker 2: In his story and I just really want to get
Speaker 2: into the and we'll get into this coming up. What's
Speaker 2: really going on in the economy. I'm Kevin Gordon, America's
Speaker 2: struck At Network seven hundred WLW.
Speaker 6: News Traffic and Weather News Radio seven hundred WLW Cincinnati.
Speaker 7: Good A site being too small make a comeback? Well,
Speaker 7: the twelve to thirty re parts, I'm Ley mawin breaking Now,
Speaker 7: that's what MSA Design states. They're proposing an expansion of
Speaker 7: the Heritage Bank Center site for the new arena. Currently,
Speaker 7: four sites are being considered for Cincinnati's next stadium, and
Speaker 7: the expected price tag is somewhere around eight hundred million
Speaker 7: dollars seventy percent of public funding is expected to help
Speaker 7: push it forward. Some tweaks to nearby roads, the flood
Speaker 7: walls and public lands will give the space six point
Speaker 7: thirty four acres instead of the current four point one
Speaker 7: acre lot. Even if FSA sports ideas aren't used for
Speaker 7: the news the new arena, even their confident, will generate
Speaker 7: ideas for what replaces it in the future. The other
Speaker 7: three sites are the current site of the w CET studios,
Speaker 7: plus the Town Center garage, a parking lot north of
Speaker 7: the Hard Rock Casino, and reclaim land west of the
Speaker 7: Convention Center that will be reclaimed after the Brent Spends
Speaker 7: Bridge project concludes.
Speaker 6: Now the latest forecast from the Train Heating and Cooling
Speaker 6: Weather Center on news Radio seven hundred wl jplication.
Speaker 8: Setting for day break on Tuesday, mostly clear. I've got
Speaker 8: a morning low of fifty degrees. Now for our Tuesday
Speaker 8: at sunshine mild, My highest seventy six at night stays
Speaker 8: clear and drops to fifty two From your severe weather station,
Speaker 8: I'm nine first Warning Chief Meteorologist Steve Rawley, News Radio
Speaker 8: seven hundred WLW.
Speaker 7: Clear in fifty six and for your Bengals fans coming
Speaker 7: out to pay Course Stadium. It's going to be a
Speaker 7: nice Thursday, seventy one degrees as a high, forty eight low,
Speaker 7: and about fifty two degrees when we kick off at
Speaker 7: eight fifteen. That game day forecast built by American Home Tech.
Speaker 7: Your roofs first line of defense starts with American home
Speaker 7: Tech dot Com. Our next update is that one. I'mley Moowen.
Speaker 7: News Radio seven hundred WLW, Cincinnati has a party and.
Speaker 9: Here's your trucking forecast for the Try State and the
Speaker 9: rest of the country. In the Try State, over night,
Speaker 9: clear skies, the low down to fifty Sunday, Tuesday high
Speaker 9: of seventy seven. Wednesday, more sunshine, a high of seventy two,
Speaker 9: and another sunny day Thursday, the high year seventy. Nationally
Speaker 9: along the Atlantic Coast, flooding that's been seen as expected
Speaker 9: to tape off overnight and into Tuesday. Meanwhile, a storm
Speaker 9: system is bringing heavy rain and snow out west, especially
Speaker 9: in California.
Speaker 2: Seven hundred WLW. I'm Kevin Gordon. This is America's Trucking Network.
Speaker 2: America's struck A network supports a mission of race across America.
Speaker 3: You can hear us every truck and Tuesday.
Speaker 2: At five am and ten am Eastern on Race Across
Speaker 2: America Radio, available on the iHeartRadio app. Search the word Reace.
Speaker 2: That's wr eats for Reese Across America Radio. And thank
Speaker 2: you to all our truckers for supporting the mission of
Speaker 2: Across America. And which reminds me too that if you
Speaker 2: miss any of our shows, any of our segments, make
Speaker 2: sure you hit up that iHeartRadio app brought to brought
Speaker 2: to you by your friends at Rush Truck Centers. We
Speaker 2: certainly appreciate that. Okay, getting back to this wonderful, grand
Speaker 2: and glorious particular story, US economy growing at the fastest
Speaker 2: pace in nearly two years, and a White House has
Speaker 2: declared explosive growth. Well, you know, if you have economic
Speaker 2: growth in the ones and twos and it goes up
Speaker 2: to three point eight, I would call that kind of explosive,
Speaker 2: But not if you're a spoonfever regurgitator from the mainstream media.
Speaker 2: All right, so go through this. The economy has grown. Now,
Speaker 2: back when the first cord was announced and the economy
Speaker 2: had grown at eight, well, actually lost a negative point
Speaker 2: six percent. Everybody was going see the economic policies of this.
Speaker 2: The Trump administration is a failure in all this sort
Speaker 2: of stuff.
Speaker 3: Yet everybody except.
Speaker 2: America's struck A network mentioned then pointed out what the
Speaker 2: other what the people were explaining was that the reason
Speaker 2: for that is that ahead of the April second Independence
Speaker 2: Day declared by President Trump, before the tariff started going
Speaker 2: into effect Liberation Day, I'm sorry, Liberation Day, not Independence
Speaker 2: Liberation Day. That on April the second, everybody a lot
Speaker 2: of people were front loading, bringing in all kinds of
Speaker 2: imports ahead of the tariff increase. And the way the
Speaker 2: GDP is calculated is that imports are subtracted from that,
Speaker 2: and that the amount of imports that were subtracted from
Speaker 2: that were so great that that pulled that number down below.
Speaker 3: Negative growth added back.
Speaker 2: If you had taken that part out, the economy would
Speaker 2: have own around two point five to two point eight percent,
Speaker 2: is what it would have done now with that inventory
Speaker 2: having been purchased in the first quarter that was available,
Speaker 2: so a lot of imports didn't have to be done
Speaker 2: in the second quarter, and the inventory that was accumulated
Speaker 2: was all burned off and part of what was purchased,
Speaker 2: and why you have this economy or in the second quarter,
Speaker 2: the GDP number now at three point eight percent. So
Speaker 2: if you average the two of those together negative point
Speaker 2: six and a positive three point eight, you're in the
Speaker 2: three point four percent three point.
Speaker 3: Basically in the three point.
Speaker 2: Two percent, which averaged over the two month is about
Speaker 2: one point six one point eight percent. So again with
Speaker 2: these economic experts so far talking about this now in
Speaker 2: his story, as I finished the previous segment, what's.
Speaker 3: Really going on in the economy.
Speaker 2: Part of the problem been finding consensus on how the
Speaker 2: economy is really doing. Is that the traditional indicators of
Speaker 2: a healthy economy tell a conflicting story. GDP and consumer spending,
Speaker 2: for example, are up yeah, okay, while at the same time,
Speaker 2: employment estimates for September show that the US continues to bleed.
Speaker 3: Jobs, really bleed jobs.
Speaker 2: How you have an economy where by the lessons of
Speaker 2: the pandemic, companies decided that okay, when we had to
Speaker 2: release and terminate all of our employees during the pandemic,
Speaker 2: when we set about reopening, those employees were no longer available.
Speaker 2: Some of the employees that decided that, well, because of
Speaker 2: all the freebies being handed out and the extensions of
Speaker 2: some of these unemployment numbers, and also the Recovery Act.
Speaker 2: These checks that were going out to people, stimulus checks
Speaker 2: that were going out at the time, people were looking
Speaker 2: at what they were making versus what they were getting
Speaker 2: on unemployment, and these stimulus checks for not working.
Speaker 3: Said I can't afford to go back to work.
Speaker 2: And then you have people that were unavailable because when
Speaker 2: they were laid off or their jobs were terminated during
Speaker 2: the plandemic. When they got back and business opened up,
Speaker 2: they went to other positions. So these companies realized that,
Speaker 2: you know, when we had the downturn, when we had
Speaker 2: to eliminate the employees. Part of the problem we saw
Speaker 2: in the recovery after the plandemic was that you didn't
Speaker 2: there weren't a lot of qualified people out there to
Speaker 2: fill these positions. I remember vividly going into certain stores,
Speaker 2: any amount of help you could get the sales clerk
Speaker 2: weren't around. You go into restaurants and they had where
Speaker 2: they would normally have three or four servers, they only
Speaker 2: had one or two and they were covering the whole area.
Speaker 3: Service was slow.
Speaker 2: The kitchen was slow because they had inexperienced people in
Speaker 2: the kitchen and so the recovery was rough, and so
Speaker 2: businesses realizing that, they said, we're not going to go
Speaker 2: through that again. We think things are going to turn around.
Speaker 2: We're optimistic that things are going to turn around. So
Speaker 2: we're not going to be hiring a bunch of people,
Speaker 2: and we're not going to be firing any people.
Speaker 3: So what we are is in kind.
Speaker 2: Of a stagnation type of situation. When he says in
Speaker 2: here that continues to bleed jobs, well, if we're bleeding jobs,
Speaker 2: if people are getting laid off, then the unemployment rate
Speaker 2: would go up. The unemployment rate had been at four
Speaker 2: point two percent under the Biden administration, dip down to
Speaker 2: four four point one in the first quarter, and then
Speaker 2: is back up to four point two, almost about four
Speaker 2: point three, and they're claiming that this is the highest
Speaker 2: in over four years. Well, it is where it has been.
Speaker 2: It is not going up, it's not going down. So
Speaker 2: where this abysmal job market is basically right now, what
Speaker 2: the situation is is that for every job opening, there
Speaker 2: is zero point nine eight percent people available for those jobs.
Speaker 2: So there are more jobs than there are people to
Speaker 2: fill those jobs. So I'm not sure where he's coming
Speaker 2: up with this idea. ADP data in a lieu of
Speaker 2: the US the usual US Bureau of Labor statistics, which
Speaker 2: are unavailable during the government shutdown, suggests that private sector
Speaker 2: lost thirty two thousand jobs last month. Now, that is
Speaker 2: private sector numbers, and as we've seen in the past
Speaker 2: and as a been explained in the past, ADP, their
Speaker 2: numbers are part of the numbers that are collected, but
Speaker 2: they are a smaller part and generally aren't as reliable
Speaker 2: as the other job creation numbers that come about. So
Speaker 2: bake banking on that is not really an excellent thing
Speaker 2: to do. That's following the month's dismal BLS report, which
Speaker 2: was from the previous month that showed that the economy
Speaker 2: had only added twenty two thousand jobs. Again, when you're
Speaker 2: talking about businesses that are holding on to their employees
Speaker 2: because they don't want to lose those employees when things
Speaker 2: turn around and the economy booms, and I'll keep saying this,
Speaker 2: the thing that's holding back our economy is high interest rates.
Speaker 2: You keep hearing story after story of where people they're
Speaker 2: wanting to jump in and buy a new car, they're
Speaker 2: wanting to buy those durable goods companies want to expand.
Speaker 2: They want to buy new machinery. They want to add
Speaker 2: on to their buildings so they can manufacture or wholesale
Speaker 2: more stuff. Retailers are wanting to expand, but they can't
Speaker 2: expand because it's going to take money.
Speaker 3: They're going to have to borrow money.
Speaker 2: Kids, young people are sitting on the sidelines, wanting to
Speaker 2: jump into the housing market, but because interest rates are
Speaker 2: so high, they're sitting on the sidelines. Some people that
Speaker 2: have houses are looking at what their current mortgage is
Speaker 2: and they don't want to take on a mortgage that's
Speaker 2: twice what their current mortgage is, so they're staying put.
Speaker 2: So you've got fewer houses on the market because these
Speaker 2: people aren't moving, and so you have these things being
Speaker 2: held back. And when you look at our interest rates
Speaker 2: compared to the other countries of European Union, Canada, other countries, Japan,
Speaker 2: our interest rates are much higher than theirs. So if
Speaker 2: you want the economy, and every time we read and
Speaker 2: every time Reuter's does the story on how oil prices are,
Speaker 2: they will reference interest rates.
Speaker 3: When the Fed is going to move lower.
Speaker 2: Interest rates stimulates the economy, increases governments, or increases consumer
Speaker 2: spending and adds to more consumption of gasoline. Big surprise there,
Speaker 2: But of course at the Federal Reserve, Lion Jerry Powell
Speaker 2: and the boy boys just don't quite understand that. Coming up,
Speaker 2: we'll finish this up, this particular story and move on
Speaker 2: to some other mischief. I'm Kevin Gordon. America'struck a network
Speaker 2: seven hundred WLW proggressive commercial insurance pretext truck owners with
Speaker 2: specialized coverages for heavy trucks WLW. I'm Kevin Gordon, finishing
Speaker 2: up this particular story. He goes through this, He says,
Speaker 2: one explanation of this story, US economy growing at fastest
Speaker 2: paced in nearly two years. The White House has declared
Speaker 2: at explosive growth. And then later on the story says,
Speaker 2: what's really going on in the economy, because you've got
Speaker 2: the tale of two cities basically that certain economic numbers
Speaker 2: are pointing to one and others are pointing in others.
Speaker 2: And the only other dismal, the only dismal part of
Speaker 2: the economy that he's talking about is jobs and job creation. Well, again,
Speaker 2: if companies are not hiring and they're not firing, that's
Speaker 2: a good thing because if people aren't getting laid off,
Speaker 2: the unemployment rate isn't going up. He says in here,
Speaker 2: one explanation for the mixed economics signals is that the
Speaker 2: rising consumer spending is only being driven by a small
Speaker 2: percentage of the highest income earners. I'm going to throw
Speaker 2: a little question out there for everybody, and of course
Speaker 2: you can't respond, but be certainly interested to see this.
Speaker 2: If we could a little show of hands, what do
Speaker 2: you consider somebody that is wealthy? How much of an
Speaker 2: income do you think that is considered wealthy. Let me
Speaker 2: just throw that out there and let that simmer for
Speaker 2: a moment. They're talking about that. The data showed that
Speaker 2: the bottom eighty percent of people that are not they're basically,
Speaker 2: you know, spending with they're normally spending. But the high
Speaker 2: income earners are the people that are doing most of
Speaker 2: the consumer spending, which when I read that led me,
Speaker 2: I mean just before I even read any further, led
Speaker 2: me to believe that, or led me to think about, well,
Speaker 2: the stuff that we're seeing people buying groceries, clothing, retail
Speaker 2: and so on, I you know, people going out to
Speaker 2: dinner and so on. Anecdotally, I keep talking about how
Speaker 2: you know, Our station is located away across the street
Speaker 2: from a major mall, and almost every time you look
Speaker 2: over there, it's almost like every day it's Christmas.
Speaker 3: The Christmas season. That mall is packed.
Speaker 2: When I drive around in northern Kentucky and look at
Speaker 2: the different malls or the different shopping centers on Saturdays
Speaker 2: and Sundays, they're packed, Restaurants are packed. And where you
Speaker 2: know where this consumer spending isn't happening. I'm not sure
Speaker 2: that I read they're into this. The data shows that
Speaker 2: anyone making under one hundred and seventy five thousand dollars
Speaker 2: a year, they're just getting by or they're just spending
Speaker 2: on what they're spending. So according to what these people
Speaker 2: are considering, So when you hear when you hear the
Speaker 2: people talk about that the tax breaks in this blah
Speaker 2: blah blah blah blah is only done for the richest
Speaker 2: people in this country one hundred and seventy eight one
Speaker 2: hundred and seventy five thousand dollars a year. When you
Speaker 2: take into consideration possibly two teachers or two people from
Speaker 2: a family, the husband wife working. That is about where
Speaker 2: people's incomes are.
Speaker 3: And to say.
Speaker 2: That that is considered wealthy and that that is where
Speaker 2: where the tax breaks are going to the wealthiest among us. Well,
Speaker 2: I would say that if you know to me that
Speaker 2: in my opinion, that is in about what would classify
Speaker 2: as in these days of middle class. And the fact that,
Speaker 2: I mean, you cannot compare if people are not working
Speaker 2: and refuse to work and are on welfare or on
Speaker 2: And you know, one of the other things that people
Speaker 2: aren't talking about enough is the fact that after the pandemic,
Speaker 2: how many people have claimed that they have health related
Speaker 2: issues as relates as a consequence of getting COVID and
Speaker 2: that they you know, they just cannot seem to get
Speaker 2: it together enough to work, or some of the people that.
Speaker 3: Have gotten the JAB that are.
Speaker 2: Having health issues and can't work, the amount of supplemental income,
Speaker 2: the people that are claiming disability nobody. I'm gonna have
Speaker 2: to do a little digging on this, but the numbers
Speaker 2: and right after the pandemic, up to the first couple
Speaker 2: of well year year and a half, those numbers were astronomical.
Speaker 2: Now I don't know if those numbers have fallen off
Speaker 2: or meet more people have jumped on there. But when
Speaker 2: you look at our labor participation rate and how it
Speaker 2: has come down. It has come down as a result
Speaker 2: of a lot of people claiming disability as a result
Speaker 2: of the pandemic.
Speaker 3: So the fact that that end.
Speaker 2: Of the of the spectrum, if they're getting governments subsistence
Speaker 2: and you've got them consuming, and then you've got the middle,
Speaker 2: you've got what they consider poor consuming, and.
Speaker 3: Then you have the upper with the rich.
Speaker 2: You know, anything over one hundred and seventy five thousand dollars,
Speaker 2: that's where the bulk of the spending is coming from.
Speaker 2: And when you go to the grocery store, I just
Speaker 2: I'm sorry, I don't see it.
Speaker 3: Again.
Speaker 2: Going back to I want to mention the fact that
Speaker 2: over the weekend, my wife was up in northern Ohio,
Speaker 2: northwestern Ohio. Her son was out of town or our
Speaker 2: son was out of town for the weekend, and so
Speaker 2: she was up there house sitting and with their daughter
Speaker 2: and driving up there. The amount of traffic that I
Speaker 2: saw to go pick her up and driving back, the
Speaker 2: number of trucks on the road. She was telling me
Speaker 2: that over the weekend or on Saturday, that went to
Speaker 2: the mall up there, and she said it was it
Speaker 2: was busy, so we're talking. You know, I only have
Speaker 2: my experience, my anecdotal evidence from what I see here
Speaker 2: in the Greater since Northern Kentucky area. But when you
Speaker 2: look at the business activity in northwest Ohio, that's yes,
Speaker 2: it's still anecdotal evidence. But I don't see people slowing down.
Speaker 2: When we have these reports about retail sales unexpectedly being higher.
Speaker 2: That isn't all done by the rich and super rich.
Speaker 2: That's got to be done by somebody. And for the
Speaker 2: fact that him pointing this out that oh well, this
Speaker 2: is just the people that are doing the most of
Speaker 2: the spending are the wealthiest among us.
Speaker 3: I'm not buying it.
Speaker 2: Then I keep hearing about inflation, you know, people keep
Speaker 2: talking about inflating. I've heard more conversations about people talking
Speaker 2: about how high prices grocery prices and so on, and
Speaker 2: the question I have and every time this has come up,
Speaker 2: I've asked them, how do they shop?
Speaker 3: But I just go in and I buy stuff.
Speaker 2: Do you not pay attention to the sales the stuff
Speaker 2: that's on sale in particular week. Now, when I want it,
Speaker 2: I just go on and I get it. And when
Speaker 2: you do that, yeah, you're going to notice a high
Speaker 2: value of stuff, because if you look at some of
Speaker 2: these things at the grocery shelves the way that I
Speaker 2: look at them, they are up one week, then they
Speaker 2: go on sale the following week, and it seems like
Speaker 2: every couple of weeks those items go on sale. And
Speaker 2: if you are going and you're buying what you're going
Speaker 2: to buy during when the prices are high, yeah, it's
Speaker 2: going to appear that way. But I've heard more talk
Speaker 2: about inflation and more talk about people struggling as far
Speaker 2: as seeing high prices than I did back in twenty
Speaker 2: twenty two, when we had inflation in the month of
Speaker 2: June at nine point two percent. Let's do a little
Speaker 2: bit of a history lesson here. For twenty twenty one,
Speaker 2: in the first year of the Biden presidency, annual inflation
Speaker 2: was at seven percent. Annual inflation in twenty twenty two
Speaker 2: six point five percent, twenty twenty three three point four.
Speaker 2: For the entire month of twenty twenty four, or the
Speaker 2: entire year of twenty twenty four was down at two
Speaker 2: point nine percent. And I saw a story yesterday, actually
Speaker 2: yesterday that said, well, inflation is on the rise. Inflation
Speaker 2: is higher than it was last year. Yeah, the inflation
Speaker 2: last year was at two point nine percent, and with
Speaker 2: what October November three more months of the year, well,
Speaker 2: actually basically two and a half more months of the year,
Speaker 2: it is projected that inflation will be two point nine
Speaker 2: two percent. So, yeah, two point nine last year and
Speaker 2: then two point nine two now, Yeah, that inflation is
Speaker 2: really going out of control. Nobody was talking about inflation
Speaker 2: in twenty twenty one, and now all of a sudden
Speaker 2: people want to talk about inflation. And yet when you
Speaker 2: look at the numbers, when you delve into the numbers
Speaker 2: and you see where and what is going up, what's
Speaker 2: going down, what the experts are telling us is not
Speaker 2: what the facts are. Well, folks, that does it frus.
Speaker 2: Stay tuned for Red Eye Radio Top of the Hour.
Speaker 2: I'm Kevin Gordon, america'struck in Network seven hundred WLW.
Speaker 6: News Traffic and Weather News Radio seven hundred WLW Cincinnati.
Speaker 7: Into the fourteenth day of the government shutdown and no
Speaker 7: relief in sight. Well the top of the Hour report,
Speaker 7: I'm Lee Mawan breaking now