1 00:00:10,320 --> 00:00:13,480 Speaker 1: This is America's Trucking Network with Kevin Gordon. 2 00:00:15,840 --> 00:00:16,480 Speaker 2: Ullab more. 3 00:00:16,920 --> 00:00:20,520 Speaker 3: Thanks for tuning in on this Wednesday morning. Well, the 4 00:00:20,640 --> 00:00:25,280 Speaker 3: weather continues to be part of the equation and basically 5 00:00:25,400 --> 00:00:29,280 Speaker 3: the big news across the entire United States. Almost forty 6 00:00:29,320 --> 00:00:32,639 Speaker 3: states have been affected by this. Now, as far as 7 00:00:32,680 --> 00:00:34,400 Speaker 3: I'm going to go into some of the reports here 8 00:00:34,440 --> 00:00:37,640 Speaker 3: to kind of give you an update on everything. While 9 00:00:37,680 --> 00:00:40,600 Speaker 3: the snow and freezing rain from this winter storm are ending, 10 00:00:40,680 --> 00:00:43,640 Speaker 3: the impacts across much of the country are not. The 11 00:00:43,680 --> 00:00:47,519 Speaker 3: Northeast is taking the final snowfall from the winter storms 12 00:00:47,520 --> 00:00:52,200 Speaker 3: because Fern. Winter Storm Fern is now moving off the 13 00:00:52,200 --> 00:00:55,480 Speaker 3: East coast and then on into the Atlantic, but the 14 00:00:55,480 --> 00:00:57,960 Speaker 3: impacts of this monster storm will be felt by millions 15 00:00:57,960 --> 00:01:01,240 Speaker 3: for much longer. School and work are canceled for many 16 00:01:01,280 --> 00:01:03,080 Speaker 3: of the at the start of the work week, as 17 00:01:03,200 --> 00:01:07,280 Speaker 3: hundreds thousands remain without power in temperatures that won't be 18 00:01:07,360 --> 00:01:10,639 Speaker 3: above the freezing mark for a number of days. Number 19 00:01:10,640 --> 00:01:13,959 Speaker 3: of deaths is rising to at least twelve deaths blamed 20 00:01:14,000 --> 00:01:14,680 Speaker 3: on the storm. 21 00:01:15,600 --> 00:01:16,600 Speaker 2: They mentioned a. 22 00:01:16,560 --> 00:01:21,160 Speaker 3: Couple in Louisiana and a couple in Pennsylvania and so on. Now, 23 00:01:21,319 --> 00:01:23,840 Speaker 3: not nearly I mean, when you go back to what 24 00:01:24,040 --> 00:01:27,319 Speaker 3: was it twenty sixteen, I think they had a big 25 00:01:27,360 --> 00:01:30,720 Speaker 3: snowstorm and big outage and down in Texas when more 26 00:01:30,760 --> 00:01:34,399 Speaker 3: than two hundred people died during that snow event in 27 00:01:34,400 --> 00:01:39,480 Speaker 3: that winter weather. So hopefully, with the emergency management systems 28 00:01:39,560 --> 00:01:43,520 Speaker 3: in place, people getting enough warning on this that the 29 00:01:43,600 --> 00:01:46,520 Speaker 3: death toll will actually be less. And when I'm reading 30 00:01:46,560 --> 00:01:50,320 Speaker 3: these and they're blamed on the storms, but a lot 31 00:01:50,360 --> 00:01:54,240 Speaker 3: of these deaths, as we hear every year, when people 32 00:01:54,480 --> 00:01:57,800 Speaker 3: of a certain age, older people go out and try 33 00:01:57,800 --> 00:02:01,800 Speaker 3: to shovel their sidewalks and their driveways. I'm seeing a 34 00:02:01,840 --> 00:02:04,520 Speaker 3: report in here where a gentleman was eighty four years 35 00:02:04,560 --> 00:02:08,000 Speaker 3: old collapsed as a result of that. Then, and again, 36 00:02:08,560 --> 00:02:11,000 Speaker 3: if you're going to go out in this, make sure 37 00:02:11,000 --> 00:02:14,520 Speaker 3: that you're you know that you're bundled up properly, because 38 00:02:14,560 --> 00:02:17,160 Speaker 3: a couple of these deaths had to do with hypothermia, 39 00:02:17,840 --> 00:02:21,040 Speaker 3: But also make sure that you're a physical condition to 40 00:02:21,080 --> 00:02:23,080 Speaker 3: be able to do that, and just don't say, well, 41 00:02:23,120 --> 00:02:24,880 Speaker 3: you know, I haven't done anything for a couple of 42 00:02:24,880 --> 00:02:26,480 Speaker 3: months here, but I'm going to go out and try 43 00:02:26,480 --> 00:02:29,920 Speaker 3: to shovel some snow. And it's not a very good idea, 44 00:02:30,160 --> 00:02:32,760 Speaker 3: and so anyway, a lot of these deaths are as 45 00:02:32,760 --> 00:02:36,120 Speaker 3: a result of that and not you know, accidents, loss 46 00:02:36,120 --> 00:02:39,600 Speaker 3: of life from utilities exploding or any of that sort 47 00:02:39,639 --> 00:02:42,560 Speaker 3: of thing. So it's mostly people going out and trying 48 00:02:42,600 --> 00:02:46,440 Speaker 3: to clear off the snow some of the other things 49 00:02:46,480 --> 00:02:50,880 Speaker 3: around the area. Boston saw sixteen point seven inches of 50 00:02:50,880 --> 00:02:52,480 Speaker 3: snow on Sunday. 51 00:02:52,480 --> 00:02:53,920 Speaker 2: Which is a daily record. 52 00:02:53,919 --> 00:02:58,000 Speaker 3: The previous daily record was nine inches, set way back 53 00:02:58,040 --> 00:03:02,000 Speaker 3: in nineteen oh five. So I would say that record 54 00:03:02,040 --> 00:03:04,640 Speaker 3: is pretty much shattered, given the fact that it's sixteen 55 00:03:04,680 --> 00:03:10,200 Speaker 3: point seven inches. Worchester, Massachusetts. Worcester, Massachusetts, seventeen point five. 56 00:03:10,680 --> 00:03:15,680 Speaker 3: Old record was twelve point one again in nineteen oh five, Hartford, Connecticut, 57 00:03:15,720 --> 00:03:19,560 Speaker 3: fifteen point six, the old record was thirteen point six. Providence, 58 00:03:19,639 --> 00:03:24,120 Speaker 3: Rhode Island, twelve point nine. Old record was nine nine inches, 59 00:03:24,480 --> 00:03:27,120 Speaker 3: And a lot of these records are back from nineteen 60 00:03:27,160 --> 00:03:32,120 Speaker 3: oh nine, nineteen forty one, nineteen oh five, et cetera. 61 00:03:32,200 --> 00:03:35,680 Speaker 3: So when we have the climbingists come in and say, well, 62 00:03:35,720 --> 00:03:39,040 Speaker 3: this is all the result of climate change, that you know, 63 00:03:39,120 --> 00:03:42,520 Speaker 3: these these temperatures, that cold, the snow is as a 64 00:03:42,560 --> 00:03:45,640 Speaker 3: result of climate change, Well, what was the climate change 65 00:03:45,680 --> 00:03:48,960 Speaker 3: back in nineteen oh five and thereabouts when they had 66 00:03:49,000 --> 00:03:53,640 Speaker 3: heavy snowfalls. Then I would say, if it's anything indicative 67 00:03:53,960 --> 00:03:57,200 Speaker 3: of that, it's a cycle that Mother Earth goes through 68 00:03:57,520 --> 00:04:00,200 Speaker 3: that where you have these cold spells and then you 69 00:04:00,280 --> 00:04:04,120 Speaker 3: have periods of relatively calm and warming and then another 70 00:04:04,200 --> 00:04:07,560 Speaker 3: cold spell. Let's not forget in nineteen seventy six, the 71 00:04:07,640 --> 00:04:12,240 Speaker 3: first Earth Day, they were concerned not about global warming. 72 00:04:12,520 --> 00:04:16,240 Speaker 3: They were concerned about global freezing, that we were entering 73 00:04:16,320 --> 00:04:19,280 Speaker 3: an ice age at that point. They were wrong then, 74 00:04:19,880 --> 00:04:22,160 Speaker 3: and when they found out that they were wrong by that, 75 00:04:22,160 --> 00:04:25,480 Speaker 3: that's when they jumped onto global warming because the ice 76 00:04:25,520 --> 00:04:28,640 Speaker 3: age didn't happen. Then, when we didn't burn to a 77 00:04:28,760 --> 00:04:31,440 Speaker 3: crisp all of a sudden, it became climate change. And 78 00:04:31,520 --> 00:04:34,279 Speaker 3: so all of this hysteria that the climbingis and I 79 00:04:34,320 --> 00:04:37,840 Speaker 3: call them climbinists for a reason. You take the environmental 80 00:04:38,240 --> 00:04:42,120 Speaker 3: movement and it's almost become part of a religion, but 81 00:04:42,240 --> 00:04:45,640 Speaker 3: it has also taken the place of communism. It is 82 00:04:45,720 --> 00:04:49,080 Speaker 3: the new communism because it is all about control. It's 83 00:04:49,120 --> 00:04:52,680 Speaker 3: controlling where you drive, what you drive, where you live, 84 00:04:53,040 --> 00:04:56,320 Speaker 3: how you live, how you heat your home, how you cook, 85 00:04:56,360 --> 00:04:59,440 Speaker 3: your food, what food you can eat, and all this 86 00:05:00,120 --> 00:05:02,840 Speaker 3: watch some of the things from Davos they always talk about, 87 00:05:03,000 --> 00:05:05,720 Speaker 3: they're always teasing about, Well, you know, the folks in 88 00:05:06,080 --> 00:05:09,880 Speaker 3: Davos are telling us to lower our carbon footprint. Neat bugs. 89 00:05:10,360 --> 00:05:14,119 Speaker 3: Well you know, they fly there in private jets. Most 90 00:05:14,120 --> 00:05:16,359 Speaker 3: of the people there have two three four homes. And 91 00:05:16,400 --> 00:05:18,799 Speaker 3: I'm not talking about you know, a twelve hundred foot 92 00:05:19,080 --> 00:05:23,039 Speaker 3: condominium someplace. I'm talking you're talking about seven eight, ten 93 00:05:23,160 --> 00:05:27,040 Speaker 3: thousand square feet facilities that these people maintain. And yet 94 00:05:27,120 --> 00:05:30,040 Speaker 3: they're going to lecture us from their private planes on 95 00:05:30,120 --> 00:05:33,320 Speaker 3: how we should reduce our carbon footprint. So again, this 96 00:05:33,520 --> 00:05:37,359 Speaker 3: climate change hoax has been disproven and numerous people have 97 00:05:37,400 --> 00:05:39,200 Speaker 3: stepped up to the plate and actually said so. 98 00:05:40,279 --> 00:05:42,600 Speaker 2: Winter Storm Fern didn't only. 99 00:05:42,400 --> 00:05:44,839 Speaker 3: Blast the US, but it dumped a bunch of snow 100 00:05:44,960 --> 00:05:48,240 Speaker 3: as far as Canada is concerned. Toronto ended Sunday with 101 00:05:48,320 --> 00:05:51,200 Speaker 3: twenty two inches of snow, making it the snowiest day 102 00:05:51,200 --> 00:05:54,440 Speaker 3: on records, of passing the previous record of nineteen inches 103 00:05:54,440 --> 00:05:58,000 Speaker 3: that stood for eighty two years. Let's see where else 104 00:05:58,040 --> 00:06:00,880 Speaker 3: we got some information here. More than a dozen record 105 00:06:00,920 --> 00:06:03,680 Speaker 3: lows were set in the morning across the Deep South. 106 00:06:03,960 --> 00:06:07,320 Speaker 3: Many in just the state of Texas alone, it's temperatures 107 00:06:07,520 --> 00:06:11,680 Speaker 3: dropped well below freezing. Texas City is like Dallas, Austin, 108 00:06:11,800 --> 00:06:17,840 Speaker 3: San Antonio, Abilene, Wichita Falls, a bunch of Midland Lublock, Victoria, Brownsville, 109 00:06:18,120 --> 00:06:24,600 Speaker 3: also Louisiana, Saw Louisiana and Monroe, Oklahoma cities, Tulsa. 110 00:06:24,720 --> 00:06:27,360 Speaker 2: All these saw record lows for this. 111 00:06:27,320 --> 00:06:31,800 Speaker 3: Period of time and on record for those individual cities 112 00:06:31,839 --> 00:06:36,080 Speaker 3: and states. The worst day of flight cancelation since twenty twenty, 113 00:06:36,120 --> 00:06:38,800 Speaker 3: since the start of the pandemic back then when more 114 00:06:38,839 --> 00:06:42,119 Speaker 3: than thirteen thousand flights were canceled on Sunday. Well again, 115 00:06:42,160 --> 00:06:45,360 Speaker 3: you know, when you've got blizzard conditions, you got ice forming, 116 00:06:45,360 --> 00:06:47,760 Speaker 3: and you can't you know, you don't want to have accidents, 117 00:06:47,760 --> 00:06:49,680 Speaker 3: so you got to cancel these flights because you want 118 00:06:49,720 --> 00:06:52,560 Speaker 3: the people to be safe. We talked about yesterday the 119 00:06:52,600 --> 00:06:55,920 Speaker 3: wide swath of freezing, and it was all pretty much 120 00:06:55,960 --> 00:06:59,240 Speaker 3: in the southern area of the country, kind of on 121 00:06:59,279 --> 00:07:03,480 Speaker 3: this swath down in a lower part of southwestern Texas 122 00:07:03,640 --> 00:07:05,840 Speaker 3: all the way up into New England where you had 123 00:07:05,920 --> 00:07:09,160 Speaker 3: these different ice events. One of the things I read 124 00:07:09,200 --> 00:07:12,240 Speaker 3: that was I peak my interest and I hope it 125 00:07:12,240 --> 00:07:15,320 Speaker 3: does yours too. You know, when you look at snow 126 00:07:15,400 --> 00:07:18,360 Speaker 3: and when you look at what is happening, and you see, 127 00:07:19,120 --> 00:07:22,160 Speaker 3: especially when the roads are plowed and you see the 128 00:07:22,320 --> 00:07:25,960 Speaker 3: twelve inches, thirteen inches, twenty inches of snow, the fact 129 00:07:26,120 --> 00:07:29,920 Speaker 3: is that all of that snow is made up of 130 00:07:30,160 --> 00:07:37,000 Speaker 3: individual snowflakes. Imagine the number of snowflakes necessary to make 131 00:07:37,440 --> 00:07:41,640 Speaker 3: twenty some inches of snow. Each one of these snowflakes 132 00:07:42,800 --> 00:07:48,000 Speaker 3: is unique. They've said that no two snowflakes are alike. 133 00:07:48,840 --> 00:07:53,400 Speaker 3: So imagine all of the snowflakes that fell from Texas 134 00:07:53,480 --> 00:07:56,320 Speaker 3: all the way up to the northeast, the twenty some 135 00:07:56,800 --> 00:08:01,000 Speaker 3: nineteen inches, twelve inches, thirteen inches here and northern Kentucky, 136 00:08:01,240 --> 00:08:05,360 Speaker 3: et cetera, each individual snowflakes. So when you sit back 137 00:08:05,400 --> 00:08:07,920 Speaker 3: and take you know, just pause from it. I know 138 00:08:07,960 --> 00:08:11,080 Speaker 3: it's a pain you're out there. I was shoveling the snow. 139 00:08:11,440 --> 00:08:14,440 Speaker 3: It's really not a good time to be thinking about, oh, well, 140 00:08:14,600 --> 00:08:17,800 Speaker 3: let's see how unique this is. But again, stepping back 141 00:08:17,840 --> 00:08:21,400 Speaker 3: a little bit and appreciating what mother Nature creates, and 142 00:08:21,440 --> 00:08:25,520 Speaker 3: then pausing and taking your time, slowing down, making sure 143 00:08:25,560 --> 00:08:28,720 Speaker 3: that if you're on the road, you're driving safely, watching 144 00:08:28,720 --> 00:08:31,560 Speaker 3: out for black ice and so on, and they go 145 00:08:31,640 --> 00:08:35,320 Speaker 3: into this description of how the different snow is made 146 00:08:35,400 --> 00:08:38,319 Speaker 3: and how the different ice crystals that are formed in 147 00:08:38,400 --> 00:08:40,599 Speaker 3: that I just thought it was kind of interesting, and 148 00:08:41,000 --> 00:08:44,520 Speaker 3: you know, imagine, you know, the individual snowflakes piling up 149 00:08:44,760 --> 00:08:48,400 Speaker 3: to that many feet of snow, So I just I 150 00:08:48,480 --> 00:08:52,920 Speaker 3: just found it fascinating. FMCSA has issued storm emergency hours 151 00:08:52,960 --> 00:08:58,080 Speaker 3: of service waivers in forty different states. The massive winter 152 00:08:58,200 --> 00:09:01,720 Speaker 3: storm Fern spread ice and freezing rain on some parts 153 00:09:01,760 --> 00:09:05,280 Speaker 3: of the country and blizzard like conditions elsewhere prompted the 154 00:09:05,400 --> 00:09:09,840 Speaker 3: FMCSA and the same Federal Motor Carrier Safety Administration to 155 00:09:10,000 --> 00:09:14,480 Speaker 3: enact hours of service waivers for some trucks in numerous states. 156 00:09:14,679 --> 00:09:17,080 Speaker 3: We'll pick this up a lot of facts in here, 157 00:09:17,160 --> 00:09:19,120 Speaker 3: and of course I'll be posting this on my Facebook 158 00:09:19,120 --> 00:09:22,439 Speaker 3: page later on after the show. I'm Kevin Gordon, America's 159 00:09:22,440 --> 00:09:25,400 Speaker 3: Truck and Network seven hundred WLW. 160 00:09:25,920 --> 00:09:28,400 Speaker 4: Running a business is hard enough, don't make it harder 161 00:09:28,400 --> 00:09:29,439 Speaker 4: with dozens of apps. 162 00:09:32,440 --> 00:09:37,040 Speaker 3: I'm Kevin Gordon, America's Truck in Network seven hundred WLW. 163 00:09:38,440 --> 00:09:41,280 Speaker 3: I've mentioned in the previous segment We're talking about this 164 00:09:41,440 --> 00:09:45,079 Speaker 3: snowfall and how unique the snow is and that no 165 00:09:45,280 --> 00:09:46,160 Speaker 3: snowflakes are like. 166 00:09:46,200 --> 00:09:48,760 Speaker 2: I forgot to mention this, and it was. 167 00:09:49,320 --> 00:09:52,480 Speaker 3: It's kind of interesting now because people study this and whatever. 168 00:09:53,480 --> 00:09:55,200 Speaker 3: The different types of snow. Let me see, there are 169 00:09:55,240 --> 00:10:02,720 Speaker 3: numerous types, different types of snow crystals, including dendright columns, prisms, needles, 170 00:10:02,720 --> 00:10:06,640 Speaker 3: and more. And the two factors deciding what your snowflake 171 00:10:06,679 --> 00:10:09,440 Speaker 3: will look like are the temperature and moisture in the 172 00:10:09,480 --> 00:10:13,120 Speaker 3: clouds when they form. So, you know, again stepping back 173 00:10:13,160 --> 00:10:16,080 Speaker 3: and taking a look at mother nature and how unique 174 00:10:16,080 --> 00:10:21,120 Speaker 3: it is, and how amazing that that can possibly be. 175 00:10:21,559 --> 00:10:25,040 Speaker 3: The number of snowflakes to make the accumulation, and that 176 00:10:25,240 --> 00:10:28,800 Speaker 3: no two of them are alike. I just find it 177 00:10:28,880 --> 00:10:33,439 Speaker 3: absolutely mind blowing and fascinating that that is possible. If 178 00:10:33,440 --> 00:10:35,559 Speaker 3: you missed part of our previous segment, make sure you 179 00:10:35,640 --> 00:10:38,200 Speaker 3: hit up that iHeartRadio app brought to you by our 180 00:10:38,240 --> 00:10:42,199 Speaker 3: friends at Rush Truck Centers. Getting back to the FMCSA 181 00:10:42,360 --> 00:10:48,160 Speaker 3: issues their storm emergency hours of service waivers, FMCSA said 182 00:10:48,200 --> 00:10:51,480 Speaker 3: in the statement that it issued a regional emergency declaration 183 00:10:51,559 --> 00:10:55,280 Speaker 3: providing temporary hours of service relief for certain motor carriers 184 00:10:55,320 --> 00:10:58,559 Speaker 3: and drivers due to severe winter storms and extreme cold. 185 00:10:59,120 --> 00:11:03,880 Speaker 3: Waivers affected through February of the six or until the 186 00:11:03,920 --> 00:11:09,960 Speaker 3: emergency end, whichever comes first. According to the FMCSA, the 187 00:11:09,960 --> 00:11:16,080 Speaker 3: waiver supports urgent winter emergency response while maintaining overall safety. 188 00:11:16,480 --> 00:11:21,480 Speaker 3: The waiver applies to qualifying emergency operations and to be 189 00:11:21,880 --> 00:11:25,200 Speaker 3: sure to review the full waiver, and of course you 190 00:11:25,240 --> 00:11:29,200 Speaker 3: can go to the FMCSA website to check that out. 191 00:11:29,440 --> 00:11:31,559 Speaker 3: Now I look that up. There's a link in this 192 00:11:31,600 --> 00:11:34,520 Speaker 3: particular story that takes you to that. I don't know 193 00:11:34,559 --> 00:11:36,760 Speaker 3: when I post that on Facebook if the link will 194 00:11:36,760 --> 00:11:39,120 Speaker 3: be there, but you can get there because what I 195 00:11:39,120 --> 00:11:42,440 Speaker 3: did is I just put in FMCSA to the website, 196 00:11:42,440 --> 00:11:46,040 Speaker 3: and I just googled or put in the search FMCSA 197 00:11:46,440 --> 00:11:49,440 Speaker 3: h you know, hours of service h OS A waiver 198 00:11:49,880 --> 00:11:52,960 Speaker 3: and that's the one of the ones that are listed there. 199 00:11:53,160 --> 00:11:56,040 Speaker 3: And it's a no, you're not going to write it down, 200 00:11:56,080 --> 00:11:59,560 Speaker 3: I know, but it's EESes, c MS and all these 201 00:12:00,160 --> 00:12:02,320 Speaker 3: alphabet numbers, but you'll be able to find it on 202 00:12:02,400 --> 00:12:05,880 Speaker 3: there and it'll list all the individual or lists the 203 00:12:06,000 --> 00:12:07,760 Speaker 3: parameters of this waiver. 204 00:12:09,080 --> 00:12:09,959 Speaker 2: FMCSA said. 205 00:12:10,000 --> 00:12:13,000 Speaker 3: The waiver applies to motor carriers and drivers providing direct 206 00:12:13,040 --> 00:12:17,240 Speaker 3: assistance to emergency relief efforts in the affected states, And 207 00:12:17,280 --> 00:12:19,800 Speaker 3: of course in the story it will show you how 208 00:12:19,840 --> 00:12:24,240 Speaker 3: many different states are affected. Forty different states are affected 209 00:12:24,240 --> 00:12:28,520 Speaker 3: by this. Temporary relief is granted for property carrying vehicle 210 00:12:28,679 --> 00:12:33,719 Speaker 3: driving limits and lists the citation of the law that 211 00:12:33,760 --> 00:12:38,240 Speaker 3: way or the code passengers carrying vehicle driving limits and 212 00:12:38,240 --> 00:12:41,280 Speaker 3: so on. So again, go check my facebook page. Oh 213 00:12:41,360 --> 00:12:44,960 Speaker 3: by the way, my Facebook page is cleverly named Kevin Gordon, 214 00:12:45,080 --> 00:12:47,600 Speaker 3: so you should be able to find it. Relief applies 215 00:12:47,640 --> 00:12:51,800 Speaker 3: regarding to trip origin replies regardless of trip origin, as 216 00:12:51,880 --> 00:12:56,120 Speaker 3: long as the operation supports emergency relief in the affected states. 217 00:12:56,760 --> 00:13:01,400 Speaker 3: That includes transportation or services supporting the immediate restoration of 218 00:13:01,559 --> 00:13:06,560 Speaker 3: essential supplies or service during the emergency. Now, the waiver 219 00:13:06,720 --> 00:13:12,200 Speaker 3: does not apply to routine commercial deliveries, mixed loads with 220 00:13:12,320 --> 00:13:18,560 Speaker 3: nominal emergency supplies, long term recovery, or infrastructure repair after 221 00:13:18,600 --> 00:13:23,200 Speaker 3: the emergency phase. Now I'm not that kind of curious 222 00:13:23,240 --> 00:13:27,560 Speaker 3: to me, because if it's infrastructure, and when you see 223 00:13:27,640 --> 00:13:32,320 Speaker 3: down power lines and terminals that have been snapped and 224 00:13:32,440 --> 00:13:35,679 Speaker 3: wires that need to be replaced, what is considered the 225 00:13:35,760 --> 00:13:40,359 Speaker 3: infrastructure of that, and if you're bringing in those electrical supplies, 226 00:13:40,760 --> 00:13:42,720 Speaker 3: I guess maybe you're going to have to check or 227 00:13:43,240 --> 00:13:45,280 Speaker 3: somebody's going to have to check with that, because long 228 00:13:45,360 --> 00:13:49,440 Speaker 3: term recovery or infrastructure. If you're replacing a power line, 229 00:13:49,760 --> 00:13:53,240 Speaker 3: that's long term, it's not temporary, but it is part 230 00:13:53,320 --> 00:13:54,680 Speaker 3: of the emergency. 231 00:13:54,200 --> 00:13:57,040 Speaker 2: So you've got to get the electricity restored. 232 00:13:57,120 --> 00:14:00,079 Speaker 3: So that's kind of a gray area there, fm the 233 00:14:00,640 --> 00:14:06,400 Speaker 3: FMCSA said. Other key restrictions include all other FMCSA fm 234 00:14:06,800 --> 00:14:11,679 Speaker 3: csrs remain in effect, including CDL drug alcohol testing. All 235 00:14:11,679 --> 00:14:15,640 Speaker 3: the regular regulations still apply out of service drivers where 236 00:14:15,679 --> 00:14:18,720 Speaker 3: carriers are not eligible until the order is officially lifted. 237 00:14:19,040 --> 00:14:23,560 Speaker 3: When emergency assistance ends, normal hours of service will return. 238 00:14:23,720 --> 00:14:26,640 Speaker 3: So keep that in mind. And again I'll have that 239 00:14:26,720 --> 00:14:30,640 Speaker 3: post on my Facebook page after the show. Later on 240 00:14:30,720 --> 00:14:35,880 Speaker 3: today around two pm, Lion Jerry Powell will have his 241 00:14:36,600 --> 00:14:39,040 Speaker 3: press conference at the end of the first at the 242 00:14:39,160 --> 00:14:42,480 Speaker 3: end of the two day Federal Reserve meeting. This, of course, 243 00:14:42,600 --> 00:14:47,160 Speaker 3: is their first Federal Reserve meeting of the year. Interest 244 00:14:47,240 --> 00:14:52,600 Speaker 3: rates are expected to stay the same. Now people are saying, 245 00:14:52,720 --> 00:14:55,440 Speaker 3: you know, there's all this talk about you know, what 246 00:14:55,520 --> 00:14:58,960 Speaker 3: the interest rates affect, what they don't affect, How this 247 00:14:59,000 --> 00:15:01,680 Speaker 3: is going to whether it affects the economy, and all 248 00:15:01,680 --> 00:15:05,280 Speaker 3: this sort of stuff. I've been clamoring for months now, 249 00:15:05,360 --> 00:15:08,560 Speaker 3: and really since the start of it, since doing America's 250 00:15:08,600 --> 00:15:10,440 Speaker 3: truck a Network almost five years ago. 251 00:15:10,560 --> 00:15:12,480 Speaker 2: Four years. We're into the end of our fourth year. 252 00:15:12,520 --> 00:15:16,800 Speaker 3: By the way, how this affects things, and the fact 253 00:15:16,880 --> 00:15:19,880 Speaker 3: that not only does it affect you on your kitchen 254 00:15:19,920 --> 00:15:22,800 Speaker 3: table budgets in terms of your credit cards, but also 255 00:15:22,880 --> 00:15:26,120 Speaker 3: your mortgage, the interest or the payments that you're doing 256 00:15:26,200 --> 00:15:28,680 Speaker 3: as far as your trucks are concerned, the companies you 257 00:15:28,760 --> 00:15:31,200 Speaker 3: may be driving for in terms of whether or not 258 00:15:31,240 --> 00:15:35,320 Speaker 3: they can finance and purchase additional vehicles, because they're not 259 00:15:35,360 --> 00:15:37,120 Speaker 3: going to sit around on a pile of cash. They 260 00:15:37,120 --> 00:15:39,240 Speaker 3: probably don't have a pilot cash. They're going to have 261 00:15:39,240 --> 00:15:41,600 Speaker 3: to finance this. And then if a company is trying 262 00:15:41,640 --> 00:15:45,480 Speaker 3: to expand, obviously the rent or the interest rate is 263 00:15:45,480 --> 00:15:49,520 Speaker 3: going to affect their determination of return on investment. You 264 00:15:49,560 --> 00:15:53,320 Speaker 3: hear that term from time to TIMEROI return on investment, 265 00:15:53,360 --> 00:15:56,240 Speaker 3: and they have to look at that and take into consideration, Well, 266 00:15:56,320 --> 00:15:59,560 Speaker 3: the increased business that we do will that cover what 267 00:15:59,640 --> 00:16:02,160 Speaker 3: the ex fences are, the building permits and so on 268 00:16:02,240 --> 00:16:05,400 Speaker 3: to expand our business, and also the interest rates that 269 00:16:05,440 --> 00:16:06,800 Speaker 3: we are going to incur. 270 00:16:06,840 --> 00:16:07,760 Speaker 2: As a result of that. 271 00:16:09,120 --> 00:16:13,320 Speaker 3: So, again, amid to somewhat softening labor market, inflation pressures, 272 00:16:13,520 --> 00:16:18,040 Speaker 3: and an uncertain geopolitical landscape, future market is pricing and 273 00:16:18,080 --> 00:16:21,920 Speaker 3: implying almost no change in the rate cut. Matt Schultz, 274 00:16:22,160 --> 00:16:26,440 Speaker 3: Lending Trees, chief credit analysts, the Fed's pause may disappoint 275 00:16:26,480 --> 00:16:30,600 Speaker 3: Americans eager to lower debt payments. Well, I would think so, 276 00:16:31,480 --> 00:16:33,400 Speaker 3: but of course, you know the Federal Reserve and their 277 00:16:33,400 --> 00:16:36,040 Speaker 3: weight and see approach that you know, sitting in their 278 00:16:36,040 --> 00:16:39,120 Speaker 3: ivory tower. I guess they're very comfortable in their lives 279 00:16:39,160 --> 00:16:42,200 Speaker 3: with their big fat paychecks that they can just, you know, 280 00:16:42,280 --> 00:16:44,720 Speaker 3: kind of look down on us and say, well, you know, 281 00:16:44,920 --> 00:16:46,920 Speaker 3: let them eat cake and that type of thing. We'll 282 00:16:46,920 --> 00:16:49,240 Speaker 3: get to interest rate cuts when we feel like it, 283 00:16:49,280 --> 00:16:52,720 Speaker 3: because we're in a good weight and see mode. 284 00:16:53,440 --> 00:16:54,200 Speaker 2: Let's see. 285 00:16:54,880 --> 00:16:57,440 Speaker 3: Even so, rates on several types of loans are at 286 00:16:57,480 --> 00:16:59,960 Speaker 3: their lowest levels in years and are likely to keep 287 00:17:00,160 --> 00:17:02,960 Speaker 3: falling at least in a while longer. Recording to Schultz, 288 00:17:03,840 --> 00:17:06,520 Speaker 3: these welcome news and so on. Now they get into 289 00:17:06,560 --> 00:17:10,479 Speaker 3: this riff between this tiff, if you will, between Trump 290 00:17:10,520 --> 00:17:13,720 Speaker 3: and Powell. Now I am on, you know, I am 291 00:17:13,760 --> 00:17:17,040 Speaker 3: not a fan of the way Trump has gone about it, 292 00:17:17,520 --> 00:17:22,919 Speaker 3: but again, seeing how things turn out, generally, what's necessary 293 00:17:23,080 --> 00:17:26,000 Speaker 3: is kind of a shock and awe type of situation 294 00:17:26,480 --> 00:17:29,000 Speaker 3: where you say that you're going to do something, or 295 00:17:29,040 --> 00:17:31,640 Speaker 3: you part of the negotiation, you shoot for the moon. 296 00:17:32,080 --> 00:17:35,640 Speaker 3: But Jerry Powell has been a lousy fed share and 297 00:17:35,880 --> 00:17:38,920 Speaker 3: even though Trump appointed him in his first term, his 298 00:17:39,480 --> 00:17:43,080 Speaker 3: term ended during Biden administration, and Biden reappointed him to 299 00:17:43,119 --> 00:17:48,240 Speaker 3: that because basically Jerown Powell was talking the company line 300 00:17:48,280 --> 00:17:52,240 Speaker 3: in terms of transitory inflation, that it's temporary, don't worry 301 00:17:52,240 --> 00:17:54,720 Speaker 3: about it. We don't have to do anything with interest rates. 302 00:17:54,840 --> 00:17:57,040 Speaker 3: We don't have to raise interest rates in order to 303 00:17:57,080 --> 00:18:00,359 Speaker 3: calm things down until a year and a half into 304 00:18:00,400 --> 00:18:04,760 Speaker 3: the Biden administration when it became abundantly evident that inflation 305 00:18:04,880 --> 00:18:09,000 Speaker 3: rate was going out of control. And so Jerry Powell, 306 00:18:09,080 --> 00:18:11,560 Speaker 3: lion Jerry Powell, as I call him, has been late 307 00:18:11,600 --> 00:18:15,600 Speaker 3: to the game. Trump refers to him as too late 308 00:18:15,680 --> 00:18:18,600 Speaker 3: Jerry Powell. I refer to him as lion Jerry Powell 309 00:18:18,640 --> 00:18:20,600 Speaker 3: because you look at some of the comments that he's 310 00:18:20,640 --> 00:18:23,400 Speaker 3: made and then the actions that he's taken, they don't 311 00:18:23,440 --> 00:18:26,640 Speaker 3: line up. So again they keep harping on the fact 312 00:18:26,680 --> 00:18:29,879 Speaker 3: that Trump has been a critic of his and well 313 00:18:29,920 --> 00:18:32,760 Speaker 3: he should be. This is not the first time that 314 00:18:32,840 --> 00:18:37,080 Speaker 3: a president has criticized moves by the Federal Reserve, nor 315 00:18:37,160 --> 00:18:39,800 Speaker 3: will it be the last. It just so happens that 316 00:18:39,880 --> 00:18:42,720 Speaker 3: it happens to me, Donald Trump this time. And we 317 00:18:42,800 --> 00:18:46,120 Speaker 3: all know that if Donald Trump is saying something, then 318 00:18:46,160 --> 00:18:48,439 Speaker 3: we really got to have our hair on fire and 319 00:18:48,520 --> 00:18:51,240 Speaker 3: start screaming and yelling about this guy is falling and 320 00:18:51,280 --> 00:18:53,280 Speaker 3: the world's coming to an end. We'll pick this up 321 00:18:53,320 --> 00:18:54,920 Speaker 3: on the other side of the break, I'm Kevin Gordon, 322 00:18:54,960 --> 00:19:01,560 Speaker 3: America's truck a Network seven hundred WLW. 323 00:19:00,040 --> 00:19:07,480 Speaker 5: Traffic and Weather News Radio seven hundred w l W, Cincinnati, calling. 324 00:19:07,160 --> 00:19:10,080 Speaker 4: For her impeachments. Well, if you're twelve to thirty reports, 325 00:19:10,160 --> 00:19:14,400 Speaker 4: I'm Ley mawin breaking now. Dozens of Democratic lawmakers call 326 00:19:14,480 --> 00:19:17,879 Speaker 4: for the removal of Homeland Security Secretary Christy Nome, and 327 00:19:17,920 --> 00:19:21,000 Speaker 4: some Republicans are jumping the aisle on this issue as well. 328 00:19:21,240 --> 00:19:24,760 Speaker 6: We've seen on Capitol Hill roughly one hundred and eleven 329 00:19:25,040 --> 00:19:28,239 Speaker 6: Democrats in the House sign on to a petition to 330 00:19:28,320 --> 00:19:31,199 Speaker 6: impeach Christi Nome. That that's nowhere near the number of 331 00:19:31,240 --> 00:19:34,280 Speaker 6: signatures that petition would need, but it's an argument that 332 00:19:34,359 --> 00:19:36,920 Speaker 6: some Democrats on the Hill are making. At least two 333 00:19:36,960 --> 00:19:41,000 Speaker 6: Republican Senators Tom Tillis of North Carolina and Lisa Murkowski 334 00:19:41,280 --> 00:19:43,399 Speaker 6: of Alaska satan in the wake of the events that 335 00:19:43,400 --> 00:19:46,320 Speaker 6: we've seen in Minneapolis, it's time for Secretary Nome, in 336 00:19:46,400 --> 00:19:48,280 Speaker 6: their view, to go as well. 337 00:19:48,560 --> 00:19:51,600 Speaker 2: ABC's j O'Brien now the ladies. 338 00:19:51,680 --> 00:19:54,760 Speaker 5: Forecast from the Train Heating and Cooling Weather Center on 339 00:19:54,880 --> 00:19:57,560 Speaker 5: news radio seven hundred wl. 340 00:19:57,320 --> 00:19:59,040 Speaker 2: W heading new Wednesday morning. 341 00:19:59,160 --> 00:20:03,080 Speaker 7: Generally fairs, guys, the cold weather advisory is out. We 342 00:20:03,160 --> 00:20:06,200 Speaker 7: could see wind chills to twenty below zero at seven 343 00:20:06,240 --> 00:20:10,000 Speaker 7: am our Wednesday, then is partly to mostly sunny. My 344 00:20:10,200 --> 00:20:13,679 Speaker 7: high of sixteen at night, fair skies and a low 345 00:20:13,960 --> 00:20:17,760 Speaker 7: one below zero. From your severe weather station, I'm nine 346 00:20:17,840 --> 00:20:24,160 Speaker 7: first Warning cheap Meteorologist Steve Rawleigh, News Radio seven hundred WLW. 347 00:20:24,240 --> 00:20:26,560 Speaker 4: We're at seven degrees. We have a list of school 348 00:20:26,560 --> 00:20:30,080 Speaker 4: closings and delays for you on seven hundred WLW dot com. 349 00:20:30,080 --> 00:20:32,399 Speaker 4: Click on news and closings and our dropdown menu. 350 00:20:32,640 --> 00:20:34,080 Speaker 2: We do have a traffic alert for you. 351 00:20:34,200 --> 00:20:37,080 Speaker 4: This is on I two seventy five in between Ronald 352 00:20:37,080 --> 00:20:40,760 Speaker 4: Reagan Highway and the I seventy four Eastern Split, and 353 00:20:40,880 --> 00:20:44,120 Speaker 4: this crash is affecting both west and eastbound lanes. 354 00:20:44,440 --> 00:20:46,880 Speaker 2: Make sure you take your time in between that stretch. 355 00:20:47,280 --> 00:20:49,280 Speaker 2: It is still open for the time being. 356 00:20:50,000 --> 00:20:53,240 Speaker 4: Hey call for vandalism and Avendale leads Sinceday Police to 357 00:20:53,240 --> 00:20:56,080 Speaker 4: find a shooting victim. It was Tuesday afternoon around three 358 00:20:56,119 --> 00:20:59,480 Speaker 4: o'clock on Clinton Springs Avenue near Newby Lane. Police found 359 00:20:59,480 --> 00:21:01,800 Speaker 4: one person shot in the arm. They are expected to 360 00:21:01,800 --> 00:21:05,440 Speaker 4: be okay. Since Nay police have reportedly detained everyone involved, 361 00:21:05,520 --> 00:21:08,200 Speaker 4: but haven't said what led to the shooting. Your next 362 00:21:08,200 --> 00:21:11,200 Speaker 4: step that is at one o'clock breaking news anytime. I'm 363 00:21:11,280 --> 00:21:14,600 Speaker 4: Lee Mawen, Who's radio seven hundred WLW. You're one stop 364 00:21:14,680 --> 00:21:17,560 Speaker 4: for advertising called eight four four eight four four. 365 00:21:17,720 --> 00:21:18,200 Speaker 2: iHeart. 366 00:21:19,480 --> 00:21:24,440 Speaker 8: I'm Sheanola Hampton. Every day millions of people face hunger. 367 00:21:25,359 --> 00:21:28,800 Speaker 8: Today I will share with you some of their experiences. 368 00:21:30,480 --> 00:21:34,040 Speaker 8: I'm stuck between paying for medications or paying for food. 369 00:21:34,640 --> 00:21:38,879 Speaker 8: John for Maine. After paying my bills, I can buy groceries. 370 00:21:39,359 --> 00:21:43,480 Speaker 2: It's sad to say food comes last. Alice from Oregon. 371 00:21:44,760 --> 00:21:48,320 Speaker 8: I thought pantries were for less fortunate people, but anybody 372 00:21:48,320 --> 00:21:51,600 Speaker 8: could be less fortunate in a day or even a second. 373 00:21:52,400 --> 00:21:56,879 Speaker 8: Claire from Virginia. The Feeding America network of food banks 374 00:21:56,880 --> 00:22:01,120 Speaker 8: helps provide over six billion meals to people need each year. 375 00:22:02,200 --> 00:22:04,920 Speaker 8: No one should have to worry where their next meal 376 00:22:04,960 --> 00:22:10,919 Speaker 8: will come from. Together, we can end hunger. Learn more 377 00:22:11,040 --> 00:22:12,920 Speaker 8: at Feeding America dot org. 378 00:22:18,240 --> 00:22:19,920 Speaker 2: This mind control real. 379 00:22:20,200 --> 00:22:23,240 Speaker 3: Can you hypnotically persuade someone to buy a car to 380 00:22:23,320 --> 00:22:23,879 Speaker 3: sleep with you? 381 00:22:24,040 --> 00:22:26,359 Speaker 2: What about using it to create a better you? And 382 00:22:26,480 --> 00:22:37,040 Speaker 2: our new podcast Minding. Here's your trucking forecast. 383 00:22:37,080 --> 00:22:39,000 Speaker 9: So the Try State and the rest of the country 384 00:22:39,080 --> 00:22:41,280 Speaker 9: and the Try State overy night mostly clear and another 385 00:22:41,359 --> 00:22:43,280 Speaker 9: cold night to low down to mind is three wind 386 00:22:43,280 --> 00:22:45,879 Speaker 9: shows could drop to twenty below a cold weather advisory 387 00:22:45,920 --> 00:22:48,760 Speaker 9: and effect it until noon Wednesday, mostly Sunday. Wednesday high 388 00:22:48,760 --> 00:22:52,320 Speaker 9: of eighteen, wind chill still below zero, partly sunny Thursday 389 00:22:52,359 --> 00:22:55,360 Speaker 9: with lighter winds the high year twenty Nationally, the Pacific 390 00:22:55,359 --> 00:22:58,760 Speaker 9: Northwest will start to see rain and higher elevation snow tonight. Meanwhile, 391 00:22:58,800 --> 00:23:01,760 Speaker 9: like affect snow can use along the Great Lakes region 392 00:23:01,880 --> 00:23:05,400 Speaker 9: as well as the northeast bridgid temperatures persisting across munch 393 00:23:05,400 --> 00:23:06,960 Speaker 9: of the eastern half of the US. 394 00:23:11,000 --> 00:23:14,119 Speaker 3: Seven hundred w l w I Kevin Gordon, this is 395 00:23:14,160 --> 00:23:17,680 Speaker 3: America's truck in network talking about this story regarding interest 396 00:23:17,720 --> 00:23:23,439 Speaker 3: rates likely to hold steady. Later on TODAYMOC Federal Market. 397 00:23:23,880 --> 00:23:27,960 Speaker 3: Let me see Federal Open Market Committee will be well. 398 00:23:28,119 --> 00:23:30,840 Speaker 3: Jerry Powell doing a press conference at two o'clock and 399 00:23:31,200 --> 00:23:33,480 Speaker 3: probably lying through his teeth in terms of why they 400 00:23:33,480 --> 00:23:35,960 Speaker 3: didn't do anything with interest rates and talking about how 401 00:23:36,000 --> 00:23:38,240 Speaker 3: steady and then talk about this, that and the other thing. 402 00:23:38,480 --> 00:23:42,120 Speaker 3: But it's in my opinion interest rates should come down 403 00:23:42,320 --> 00:23:45,120 Speaker 3: and talk a little bit about that and why. Coming 404 00:23:45,240 --> 00:23:49,920 Speaker 3: up shortly, but again, you know Trump again during Davos. 405 00:23:50,000 --> 00:23:53,400 Speaker 3: His trip to Davos last week was critical of Jerome Powell, 406 00:23:53,560 --> 00:23:57,280 Speaker 3: and rightly so, because he's been too late getting to 407 00:23:57,520 --> 00:24:01,840 Speaker 3: the individual interest rate cuts, too late during the Biden 408 00:24:01,880 --> 00:24:06,920 Speaker 3: administration to raise interest rates to slow down the inflation 409 00:24:07,040 --> 00:24:09,000 Speaker 3: rate during that period time when by the way, he 410 00:24:09,119 --> 00:24:13,080 Speaker 3: was calling it transitory, which transitory means temporary, and that 411 00:24:13,200 --> 00:24:16,920 Speaker 3: temporary lasted for almost a year and a half Let's 412 00:24:16,960 --> 00:24:20,040 Speaker 3: see what else is in here. Short term, let me 413 00:24:20,040 --> 00:24:23,760 Speaker 3: see the FEDS benchmark sets the let me see, let's 414 00:24:23,760 --> 00:24:26,320 Speaker 3: go President sent in his remarks last week that inflation 415 00:24:26,400 --> 00:24:29,280 Speaker 3: has been defeated, and to a large extent it has been, 416 00:24:29,800 --> 00:24:32,320 Speaker 3: and we will tomorrow. I am going to go into 417 00:24:32,359 --> 00:24:35,520 Speaker 3: a couple of details in terms of why inflation isn't 418 00:24:35,560 --> 00:24:37,879 Speaker 3: coming down, and it has nothing to do with tariffs 419 00:24:37,920 --> 00:24:40,439 Speaker 3: and has nothing to do with all the lies that 420 00:24:40,480 --> 00:24:43,360 Speaker 3: the spoon feder regurgitators in the mainstream media are telling us. 421 00:24:43,680 --> 00:24:46,359 Speaker 3: I have those information. We'll get to that tomorrow. Don't 422 00:24:46,400 --> 00:24:48,359 Speaker 3: have time for that today, so you'll have to stay 423 00:24:48,400 --> 00:24:52,600 Speaker 3: tuned for tomorrow and get the latest updates. Let me see. 424 00:24:52,600 --> 00:24:55,119 Speaker 3: The federal funds rate that is too high makes it 425 00:24:55,160 --> 00:24:57,720 Speaker 3: harder for businesses and consumers. Let me go back to 426 00:24:57,760 --> 00:25:00,800 Speaker 3: the beginning of this paragraph. The President last week that 427 00:25:00,880 --> 00:25:04,120 Speaker 3: inflation has been defeated. He also said in prior comments 428 00:25:04,119 --> 00:25:07,560 Speaker 3: about the FED that maintaining federal funds rates too high? 429 00:25:08,520 --> 00:25:11,359 Speaker 3: What makes it harder for businesses and consumers to borrow 430 00:25:11,560 --> 00:25:15,800 Speaker 3: put in the US at an economic disadvantage to countries 431 00:25:15,880 --> 00:25:19,920 Speaker 3: with lower rates. The FEDS benchmark rate sets that what 432 00:25:20,240 --> 00:25:24,280 Speaker 3: banks charge each other for overnight lending, but also has 433 00:25:24,320 --> 00:25:26,800 Speaker 3: a trickle down effect on many of the borrowing and 434 00:25:26,840 --> 00:25:31,080 Speaker 3: savings rates Americans see every day. Short term rates are 435 00:25:32,080 --> 00:25:35,720 Speaker 3: are more closely pegged to the prime rate. You hear 436 00:25:35,760 --> 00:25:38,359 Speaker 3: the prime rate talked about from time to time. The 437 00:25:38,400 --> 00:25:42,640 Speaker 3: prime rate generally is three points higher than what the 438 00:25:42,680 --> 00:25:46,240 Speaker 3: federal overnight funds rate is. So if it's a three 439 00:25:46,280 --> 00:25:49,480 Speaker 3: point five to three point seventy five, the prime rate 440 00:25:49,520 --> 00:25:52,640 Speaker 3: will be somewhere between six and a half to six 441 00:25:52,680 --> 00:25:55,439 Speaker 3: and three quarters, So give you an idea of where 442 00:25:55,640 --> 00:25:58,879 Speaker 3: that prime rate is coming from. Altogether, the impact of 443 00:25:58,880 --> 00:26:02,800 Speaker 3: fed's actions significantly across different types of loans as far 444 00:26:02,800 --> 00:26:05,880 Speaker 3: as mortgages are concerned. Fixed rate mortgage rates, for example, 445 00:26:06,320 --> 00:26:10,920 Speaker 3: don't exactly or directly track the FED, but typically followed 446 00:26:11,000 --> 00:26:14,240 Speaker 3: the lead of the long term treasury rates. The average 447 00:26:14,320 --> 00:26:17,400 Speaker 3: rate for thirty year fixed fixed rate mortgage was six 448 00:26:17,440 --> 00:26:20,760 Speaker 3: point one point nine as of Friday, according to Mortgage 449 00:26:20,800 --> 00:26:24,920 Speaker 3: News Daily, down from over seven percent a year ago, 450 00:26:25,280 --> 00:26:27,800 Speaker 3: which is a full almost a full percentage point down 451 00:26:27,800 --> 00:26:30,520 Speaker 3: from that number, helped by as part by Trump's push 452 00:26:30,600 --> 00:26:33,720 Speaker 3: to have Fanny May and Freddie mack by two hundred 453 00:26:33,840 --> 00:26:39,560 Speaker 3: billion dollars in mortgage bonds just on the announcement. Interest 454 00:26:39,600 --> 00:26:43,600 Speaker 3: rates dip below six percent temporarily, but then bounce back 455 00:26:43,680 --> 00:26:46,360 Speaker 3: up because of some of the geopolitical issues that are 456 00:26:46,359 --> 00:26:50,560 Speaker 3: going on around the world, not to mention the war 457 00:26:50,600 --> 00:26:55,199 Speaker 3: in Ukraine, Iran wrapping up their terror on their people 458 00:26:55,520 --> 00:27:00,280 Speaker 3: by murdering the protesters there, and what might have happened 459 00:27:00,359 --> 00:27:03,040 Speaker 3: there as a result of that ongoing conflict. 460 00:27:03,800 --> 00:27:04,240 Speaker 2: Let's see. 461 00:27:04,280 --> 00:27:08,680 Speaker 3: According to Melissa Cohne Regional vice president WILLIAMS. Reefs, mortgage 462 00:27:08,760 --> 00:27:11,320 Speaker 3: rates did diplow six percent in recent weeks for the 463 00:27:11,320 --> 00:27:14,560 Speaker 3: first time in years, only to spike up because of 464 00:27:14,680 --> 00:27:19,119 Speaker 3: geopolitical chaos. Credit cards, by contrast, most credit cards have 465 00:27:19,240 --> 00:27:22,720 Speaker 3: a variable rate, so there's a more direct connection to 466 00:27:22,760 --> 00:27:26,920 Speaker 3: the FEDS benchmark. Following the three consecutive rates in twenty 467 00:27:26,960 --> 00:27:30,560 Speaker 3: twenty five, average credit card interest rate in usfel to 468 00:27:30,960 --> 00:27:35,399 Speaker 3: twenty three point seven nine percent in January, marking the 469 00:27:35,440 --> 00:27:39,960 Speaker 3: lowest level since March of twenty twenty three. According to 470 00:27:40,040 --> 00:27:45,120 Speaker 3: Lending Tree certified financial planner Stephen Kates, a financial analyst 471 00:27:45,160 --> 00:27:48,080 Speaker 3: at Bank Rate. Still, those rates are not going to 472 00:27:48,119 --> 00:27:50,479 Speaker 3: come down to a level that is going to ease 473 00:27:50,520 --> 00:27:55,480 Speaker 3: the burden on those carrying a balance. Interestingly enough, there 474 00:27:55,480 --> 00:27:58,320 Speaker 3: are currently about one hundred and seventy five million people 475 00:27:58,359 --> 00:28:01,640 Speaker 3: in the US that have credit cards, and while some 476 00:28:01,760 --> 00:28:05,480 Speaker 3: pay off the balance on a monthly basis, roughly sixty 477 00:28:05,880 --> 00:28:11,000 Speaker 3: percent of credit card users have revolving debt, including tied 478 00:28:11,040 --> 00:28:13,960 Speaker 3: to the Federal Reserve funds rate. So, you know, to 479 00:28:14,119 --> 00:28:18,200 Speaker 3: cut your finances, try to, you know, maintain those balances low, 480 00:28:18,520 --> 00:28:21,520 Speaker 3: pay them off as you can, and make sure that 481 00:28:21,560 --> 00:28:25,800 Speaker 3: your interest rate is lower. Again, they're talking about here 482 00:28:26,080 --> 00:28:29,720 Speaker 3: trying to have talking about interest rates now, I don't 483 00:28:29,840 --> 00:28:32,520 Speaker 3: you know. A couple of weeks ago, Trump talked about 484 00:28:32,960 --> 00:28:37,760 Speaker 3: possibly temporarily reducing the top end as far as interest 485 00:28:37,800 --> 00:28:42,840 Speaker 3: rates on credit cards to around ten percent. Now, although 486 00:28:43,000 --> 00:28:46,160 Speaker 3: on the surface it sounds good, but I'm not quite 487 00:28:46,240 --> 00:28:51,840 Speaker 3: sure in terms of the fact that businesses banks. Not 488 00:28:51,880 --> 00:28:53,800 Speaker 3: that I'm a big fan of banks. I think they 489 00:28:53,880 --> 00:28:57,160 Speaker 3: overcharge and they have way too much power, but they 490 00:28:57,200 --> 00:29:00,760 Speaker 3: have gone into the lending institutions in terms of credit 491 00:29:00,800 --> 00:29:05,040 Speaker 3: cards with the rules a certain way. If you change 492 00:29:05,040 --> 00:29:07,680 Speaker 3: those rules, those could change dramatically. 493 00:29:08,160 --> 00:29:09,880 Speaker 2: And I'm not sure that. 494 00:29:11,480 --> 00:29:14,440 Speaker 3: If you were to cut the interest rates by down 495 00:29:14,440 --> 00:29:17,520 Speaker 3: to ten percent or cap it at ten percent, if 496 00:29:17,560 --> 00:29:21,040 Speaker 3: people would take that savings and turn around and try 497 00:29:21,080 --> 00:29:24,240 Speaker 3: to reduce the amount that they're carrying on their credit cards. 498 00:29:25,840 --> 00:29:29,040 Speaker 3: I'd like to see more information on that, but I'm 499 00:29:29,080 --> 00:29:32,120 Speaker 3: not quite sure where I stand on that. However, I 500 00:29:32,160 --> 00:29:37,760 Speaker 3: did see some comments by JP Morgan, Chase's CEO, Jamie Diamond. 501 00:29:37,920 --> 00:29:40,480 Speaker 3: He said this type of policy would have an be 502 00:29:40,520 --> 00:29:48,360 Speaker 3: an economic disaster. Now, Jamie Diamond, I can't quite peg him. 503 00:29:48,920 --> 00:29:51,840 Speaker 3: There are certain times when he talks about certain things 504 00:29:51,840 --> 00:29:55,840 Speaker 3: that seem awfully supply side driven, and then there is 505 00:29:56,000 --> 00:29:58,960 Speaker 3: times where he says things that I kind of scratch 506 00:29:59,040 --> 00:30:01,640 Speaker 3: my head and say, you know, is this guy, you know, 507 00:30:02,520 --> 00:30:06,320 Speaker 3: you know, liberal or is he nutty or whatever. But 508 00:30:06,800 --> 00:30:08,920 Speaker 3: there are times when he comes back and he'll say 509 00:30:08,960 --> 00:30:12,400 Speaker 3: certain things that seemed to be more in the conservative venue. 510 00:30:12,520 --> 00:30:14,600 Speaker 3: So it's kind of tough to peg him down. As 511 00:30:14,640 --> 00:30:16,640 Speaker 3: a matter of fact, one of the things that I 512 00:30:16,680 --> 00:30:19,440 Speaker 3: thought was kind of interesting is that he has made 513 00:30:19,760 --> 00:30:25,720 Speaker 3: weird not weird comments, but it seems like conflicting comments 514 00:30:25,760 --> 00:30:29,040 Speaker 3: having to do with tariffs in terms of where whether 515 00:30:29,080 --> 00:30:32,320 Speaker 3: they cause inflation or not. And he came out a 516 00:30:32,400 --> 00:30:34,760 Speaker 3: few weeks ago and said, well, it appears as though 517 00:30:34,960 --> 00:30:38,800 Speaker 3: tariffs aren't going to lead to inflation, when when tariffs 518 00:30:38,840 --> 00:30:42,240 Speaker 3: were instituted, he was all chomping at the bit saying that, oh, 519 00:30:42,280 --> 00:30:43,760 Speaker 3: this is going to be the worst thing to happen 520 00:30:43,800 --> 00:30:46,920 Speaker 3: and so on. So even he with his knowledge and 521 00:30:47,040 --> 00:30:51,840 Speaker 3: being a CEO of JP Morgan Chase, isn't always one 522 00:30:51,960 --> 00:30:54,920 Speaker 3: hundred percent accurate now on auto loans, although interest rates 523 00:30:54,960 --> 00:30:58,240 Speaker 3: and new car loans have edged lower, car buyers are 524 00:30:58,280 --> 00:31:03,880 Speaker 3: financing larger amount so affordability crunch is only worsened now. 525 00:31:04,400 --> 00:31:08,520 Speaker 3: The price of automobiles is creeping up. That is, I 526 00:31:08,560 --> 00:31:11,000 Speaker 3: mean that has been going on for a number of years, 527 00:31:11,440 --> 00:31:14,440 Speaker 3: So that has nothing to do with tariffs. And if 528 00:31:14,440 --> 00:31:18,640 Speaker 3: you go back to and again I am not criticizing 529 00:31:18,960 --> 00:31:22,240 Speaker 3: people trying to get what they can as far as pay, 530 00:31:22,880 --> 00:31:25,800 Speaker 3: but when you go back to the auto workers going 531 00:31:25,840 --> 00:31:28,360 Speaker 3: on strike a couple of years ago, at all three 532 00:31:28,440 --> 00:31:34,239 Speaker 3: major car manufacturers, they got a significant pay increase, and 533 00:31:34,400 --> 00:31:37,960 Speaker 3: at the time they said that it looks like, well 534 00:31:38,040 --> 00:31:40,680 Speaker 3: it's going to be a minimal effect, that it's only 535 00:31:40,720 --> 00:31:44,840 Speaker 3: going to affect the car price by nine hundred or 536 00:31:44,840 --> 00:31:49,200 Speaker 3: so dollars. Then last year when the price went up 537 00:31:49,240 --> 00:31:52,560 Speaker 3: by nine hundred dollars on average across the board on cars, 538 00:31:52,720 --> 00:31:55,920 Speaker 3: they tried to blame it on tariffs, So you know, 539 00:31:56,360 --> 00:32:00,520 Speaker 3: apparently they forgot what they said a year ago and 540 00:32:00,560 --> 00:32:03,760 Speaker 3: then try to find some other scapegoat to talk about 541 00:32:03,880 --> 00:32:08,560 Speaker 3: instead of just admitting, look, our employees during the pandemic, 542 00:32:08,800 --> 00:32:10,200 Speaker 3: we didn't get pay raises. 543 00:32:10,360 --> 00:32:12,760 Speaker 2: They came back in. We gave them a boost. 544 00:32:12,840 --> 00:32:15,640 Speaker 3: Now in some cases those numbers and we're seeing a 545 00:32:15,680 --> 00:32:19,160 Speaker 3: fifty percent increase over a six year period of time, 546 00:32:19,560 --> 00:32:21,960 Speaker 3: So you know that's not chump change. So when you 547 00:32:22,000 --> 00:32:26,480 Speaker 3: see other companies or some individuals getting fifty percent pay 548 00:32:26,480 --> 00:32:29,160 Speaker 3: increases over the next six years, and you look at 549 00:32:29,160 --> 00:32:31,360 Speaker 3: what your pay has been over the last six years, 550 00:32:31,440 --> 00:32:35,280 Speaker 3: you kind of see where some of these price increases 551 00:32:35,560 --> 00:32:40,000 Speaker 3: and inflationary pushes coming from. Although interest rates we mentioned 552 00:32:40,040 --> 00:32:43,200 Speaker 3: that remained low, the average amount financed for a new 553 00:32:43,200 --> 00:32:46,840 Speaker 3: car reached an all time high of forty three thousand, 554 00:32:47,040 --> 00:32:50,000 Speaker 3: seven hundred and fifty nine at the end of last year. 555 00:32:50,040 --> 00:32:54,240 Speaker 3: According to Edmunds, the average monthly payment on a new vehicle. 556 00:32:54,360 --> 00:32:56,400 Speaker 3: I about fell out of my chair when I read 557 00:32:56,400 --> 00:32:59,840 Speaker 3: this one. The payment on a new vehicle purchase at 558 00:32:59,880 --> 00:33:04,760 Speaker 3: the freshly high is the share of new car buyers 559 00:33:04,920 --> 00:33:09,840 Speaker 3: with an auto payment of one thousand dollars or more, 560 00:33:10,440 --> 00:33:13,560 Speaker 3: an interest rate a car payment of more than a 561 00:33:13,720 --> 00:33:16,360 Speaker 3: thousand dollars. A couple of years ago, when they were 562 00:33:16,400 --> 00:33:19,880 Speaker 3: talking about people carrying a balance of seven hundred dollars 563 00:33:20,000 --> 00:33:22,520 Speaker 3: or car loan of seven hundred dollars a month, people 564 00:33:22,520 --> 00:33:24,920 Speaker 3: were going, well, that's crazy, that's insane. Well, I was 565 00:33:24,960 --> 00:33:29,120 Speaker 3: during the Biden years and whatever changed there before the 566 00:33:29,560 --> 00:33:32,640 Speaker 3: Trump took office that has affected these prices. We'll talk 567 00:33:32,680 --> 00:33:34,920 Speaker 3: a little bit more about this and more coming up. 568 00:33:34,960 --> 00:33:41,400 Speaker 3: I'm Kevin Gordon, America's truck a Network seven hundred WLW. 569 00:33:40,640 --> 00:33:46,800 Speaker 1: News Radio seven hundred WLW and iHeartRadio Station Guarantee Human 570 00:33:47,240 --> 00:33:51,040 Speaker 1: seven hundred WLW High hard Radio. 571 00:33:52,200 --> 00:33:55,680 Speaker 2: Progressive commercial nose. Truckers can expect the unexpected when driving. 572 00:33:55,920 --> 00:33:56,920 Speaker 2: But a little answer. 573 00:33:57,880 --> 00:34:03,080 Speaker 3: This is America's truck in Net seven hundred WLW. You know, 574 00:34:03,120 --> 00:34:05,240 Speaker 3: I made a point talking about interest rates and the 575 00:34:05,400 --> 00:34:09,120 Speaker 3: Federal Reserve and how that is affecting. So everybody knows 576 00:34:09,239 --> 00:34:11,640 Speaker 3: where these interest rates and how they're affecting your mortgage, 577 00:34:11,840 --> 00:34:15,279 Speaker 3: your credit cards, your auto loans, which obviously applies to 578 00:34:15,760 --> 00:34:17,960 Speaker 3: you out there that are trying to purchase a new truck, 579 00:34:18,920 --> 00:34:22,400 Speaker 3: companies trying to purchase new fleets or replenish some of 580 00:34:22,400 --> 00:34:25,680 Speaker 3: their trucks. This all has an effect there and has 581 00:34:25,960 --> 00:34:27,040 Speaker 3: a significant impact. 582 00:34:27,200 --> 00:34:28,080 Speaker 2: It just blew me. 583 00:34:28,080 --> 00:34:32,680 Speaker 3: Away that people would, I mean, that are actually spending 584 00:34:32,920 --> 00:34:35,640 Speaker 3: or having as a car payment of something over one 585 00:34:35,640 --> 00:34:36,600 Speaker 3: thousand dollars. 586 00:34:37,800 --> 00:34:39,960 Speaker 2: That just that really blows me away. 587 00:34:40,000 --> 00:34:42,960 Speaker 3: And I remember back during the Biden years when they 588 00:34:42,960 --> 00:34:46,040 Speaker 3: were talking about that, well beginning of the Biden years, 589 00:34:46,080 --> 00:34:49,400 Speaker 3: that the interest well inflation rate was going up to 590 00:34:49,440 --> 00:34:53,960 Speaker 3: the point in twenty twenty two, yeah, twenty twenty two, 591 00:34:54,040 --> 00:34:57,160 Speaker 3: twenty twenty three, that car payments were up over seven 592 00:34:57,239 --> 00:35:01,759 Speaker 3: hundred dollars, seven hundred and fifty thereabouts. So again the 593 00:35:01,800 --> 00:35:05,480 Speaker 3: cost of these cars. Now, you and anybody that's out 594 00:35:05,520 --> 00:35:08,000 Speaker 3: there that is looking for a used car, you see 595 00:35:08,080 --> 00:35:12,680 Speaker 3: how this is affecting because with new car prices being 596 00:35:12,719 --> 00:35:15,040 Speaker 3: so high, a lot of people are in the market 597 00:35:15,239 --> 00:35:19,359 Speaker 3: for late model, low mileage used cars. And you see 598 00:35:19,400 --> 00:35:21,600 Speaker 3: how some of that comes into effect. 599 00:35:21,840 --> 00:35:22,160 Speaker 2: Now. 600 00:35:22,520 --> 00:35:25,319 Speaker 3: Kind of on a personal note, I'm always curious in 601 00:35:25,400 --> 00:35:28,520 Speaker 3: terms I drive a two thousand and one camera I've 602 00:35:28,520 --> 00:35:32,719 Speaker 3: got two hundred and eighty nine, yeah, two hundred and 603 00:35:32,719 --> 00:35:35,600 Speaker 3: eighty nine thousand miles on it, and it's getting to 604 00:35:35,640 --> 00:35:38,239 Speaker 3: the point where i'm gonna, you know, it's getting a 605 00:35:38,239 --> 00:35:41,160 Speaker 3: little shady. I'm trying to milk that last eleven thousand 606 00:35:41,239 --> 00:35:43,360 Speaker 3: miles out of it to get it up to three 607 00:35:43,480 --> 00:35:46,279 Speaker 3: hundred thousand miles, but that's getting a little bit more 608 00:35:46,320 --> 00:35:49,480 Speaker 3: and more questionable. So I've been just kind of curious. 609 00:35:49,600 --> 00:35:53,640 Speaker 3: I love driving the car the way it sits. There's 610 00:35:53,719 --> 00:35:56,920 Speaker 3: no blind spots, it's just a very comfortable car, very 611 00:35:56,920 --> 00:35:59,880 Speaker 3: comfortable writing. And I thought, geez, you know, should I 612 00:36:00,160 --> 00:36:02,880 Speaker 3: do something weird and try to find one to replace 613 00:36:02,960 --> 00:36:05,439 Speaker 3: it or just kind of up the model a little bit. 614 00:36:06,000 --> 00:36:08,480 Speaker 3: But I've been toying around with that and everything. But 615 00:36:08,680 --> 00:36:12,120 Speaker 3: just out of curiosity, I was looking online to see, 616 00:36:12,200 --> 00:36:14,319 Speaker 3: you know, what are two thousand and one camera and 617 00:36:14,400 --> 00:36:19,080 Speaker 3: I'm shocked that we're talking about a car that's twenty 618 00:36:19,120 --> 00:36:22,160 Speaker 3: five years old. Now, when we get into the summer months, 619 00:36:22,440 --> 00:36:24,839 Speaker 3: we get into the twenty twenty seven cars coming out, 620 00:36:24,880 --> 00:36:26,520 Speaker 3: the car's going to be twenty six years old. 621 00:36:26,960 --> 00:36:28,359 Speaker 2: And I'm saying, just on. 622 00:36:28,280 --> 00:36:30,160 Speaker 3: That particular car, now, I don't know all the other 623 00:36:30,239 --> 00:36:32,240 Speaker 3: cars in terms of what they and what they're doing. 624 00:36:32,440 --> 00:36:37,120 Speaker 3: But you get a low mileage Cameray two thousand and 625 00:36:37,160 --> 00:36:41,520 Speaker 3: one Cameray Toyota camera with you know, one hundred and 626 00:36:41,560 --> 00:36:44,879 Speaker 3: twenty one hundred and fifty thousand miles on it that 627 00:36:45,200 --> 00:36:48,319 Speaker 3: is priced somewhere around five thousand. If you get one 628 00:36:48,320 --> 00:36:52,560 Speaker 3: that's below one hundred thousand miles, those are almost nine 629 00:36:52,680 --> 00:36:56,600 Speaker 3: thousand dollars or almost ten thousand dollars that they're asking 630 00:36:56,640 --> 00:37:03,360 Speaker 3: for that, which which is absolutely insane. But again, because 631 00:37:03,560 --> 00:37:07,040 Speaker 3: of the people in the market for late model cars 632 00:37:07,080 --> 00:37:11,239 Speaker 3: and the used car market going up, things are kind 633 00:37:11,280 --> 00:37:14,960 Speaker 3: of strange in that way. And again, you know, a 634 00:37:15,200 --> 00:37:17,120 Speaker 3: car that's twenty five years old, I mean, it's not 635 00:37:17,200 --> 00:37:20,640 Speaker 3: yet an antique. But and then again, the problem with 636 00:37:20,840 --> 00:37:23,440 Speaker 3: an older car, and especially in areas like the Northern 637 00:37:23,520 --> 00:37:26,600 Speaker 3: Kentucky Greatert Ince Northern Kentucky, with all the salt on 638 00:37:26,640 --> 00:37:29,040 Speaker 3: the road, you got to be concerned about the bottom 639 00:37:29,040 --> 00:37:31,600 Speaker 3: of it, with how the rust brake lines, all that 640 00:37:31,640 --> 00:37:34,320 Speaker 3: sort of stuff. It may run well, that has maybe 641 00:37:34,920 --> 00:37:37,960 Speaker 3: fifty two thousand, seventy one thousand miles on it, but 642 00:37:38,000 --> 00:37:39,960 Speaker 3: you got to be worrying about the other mechanics of 643 00:37:40,000 --> 00:37:42,560 Speaker 3: that particular car. Anyway, I got off the subject there 644 00:37:42,920 --> 00:37:45,399 Speaker 3: talking about interest rates and what I've been talking about 645 00:37:45,440 --> 00:37:47,680 Speaker 3: as far as interest rates. You may recall about three 646 00:37:47,760 --> 00:37:51,040 Speaker 3: four weeks ago I talked about how interest rates were 647 00:37:51,120 --> 00:37:54,000 Speaker 3: around the world in terms of what other countries are 648 00:37:54,000 --> 00:37:56,879 Speaker 3: paying in terms of their mortgage rates, and pointing out 649 00:37:56,920 --> 00:38:00,759 Speaker 3: the fact that our mortgage rates are somewhere between one 650 00:38:00,760 --> 00:38:04,480 Speaker 3: point five and two percent higher than what they are 651 00:38:04,480 --> 00:38:06,920 Speaker 3: in some of these other countries. I saw this article 652 00:38:06,960 --> 00:38:11,000 Speaker 3: that was kind of interesting. Bank of Japan raises economic 653 00:38:11,040 --> 00:38:17,560 Speaker 3: outlook forecasts as it holds its rates at point seven 654 00:38:18,000 --> 00:38:22,400 Speaker 3: five percent, not even a full percentage point. Japan Central 655 00:38:22,400 --> 00:38:25,840 Speaker 3: Bank on Friday, this was last week, raised economic growth 656 00:38:25,880 --> 00:38:31,040 Speaker 3: forecast while holding its key policy rate two point seven five. 657 00:38:31,760 --> 00:38:35,239 Speaker 3: Our key policy rate is three point five to three 658 00:38:35,280 --> 00:38:39,560 Speaker 3: point seven five. That's how much higher we are paying 659 00:38:39,840 --> 00:38:42,560 Speaker 3: and the individual banks are paying for that overnight rate 660 00:38:42,760 --> 00:38:46,600 Speaker 3: that then is tied to that rate is then three 661 00:38:46,640 --> 00:38:50,360 Speaker 3: points higher. That determines the prime interest rate that you 662 00:38:50,440 --> 00:38:53,120 Speaker 3: hear from time to time and then boost up the 663 00:38:53,200 --> 00:38:56,040 Speaker 3: cost of mortgages, cost of credit cards, and so on. 664 00:38:56,600 --> 00:39:03,239 Speaker 3: Bank of Japan point seven five percent, full three percentage 665 00:39:03,280 --> 00:39:06,600 Speaker 3: points below what we are paying here back at Japan 666 00:39:06,760 --> 00:39:10,479 Speaker 3: upgraded economic growth forecast for the fiscal year ending March 667 00:39:10,520 --> 00:39:13,920 Speaker 3: to the twenty six too point nine percent from point 668 00:39:13,960 --> 00:39:17,960 Speaker 3: seven percent in October, raise the GDP expansion outlook for 669 00:39:18,040 --> 00:39:22,320 Speaker 3: twenty twenty six fiscal year to one percent to fromo 670 00:39:22,320 --> 00:39:26,280 Speaker 3: point seven percent. Now, there are some other economic factors 671 00:39:26,280 --> 00:39:30,239 Speaker 3: that are in effect there Japan that are affecting their 672 00:39:30,320 --> 00:39:35,319 Speaker 3: growth rate. GDP at a one percent increase is not 673 00:39:35,640 --> 00:39:39,640 Speaker 3: very good, but again their interest rates are lower. Central 674 00:39:39,640 --> 00:39:45,120 Speaker 3: Bank expects Japan's GDP to grow moderately as other countries 675 00:39:45,160 --> 00:39:48,200 Speaker 3: return to growth. And of course they're in competition with 676 00:39:48,280 --> 00:39:53,319 Speaker 3: other countries. They're in the Pacific RIM, with one of 677 00:39:53,360 --> 00:39:57,560 Speaker 3: the major competitors being China with their low cost in 678 00:39:57,640 --> 00:40:00,640 Speaker 3: terms of how they can manufacture stuff and. 679 00:40:00,880 --> 00:40:03,080 Speaker 2: The low wages that they pay their people. 680 00:40:03,239 --> 00:40:06,360 Speaker 3: So again, trying to have increase in terms of your 681 00:40:06,400 --> 00:40:09,759 Speaker 3: gross domestic product in a small country like Japan, with 682 00:40:09,960 --> 00:40:15,920 Speaker 3: competing with China and Korea and also Vietnam and all 683 00:40:15,960 --> 00:40:18,080 Speaker 3: those in the Pacific RIM, that makes it a little 684 00:40:18,080 --> 00:40:20,919 Speaker 3: bit difficult. But the fact is is that they are 685 00:40:21,320 --> 00:40:25,480 Speaker 3: in that interest rate range that is still below one percent. 686 00:40:25,880 --> 00:40:29,239 Speaker 3: So when you take into consideration where our interest rates 687 00:40:29,280 --> 00:40:34,200 Speaker 3: are versus theirs, it's you again kind of interesting the 688 00:40:34,239 --> 00:40:38,640 Speaker 3: way that pans out. Now, we did have some interesting 689 00:40:39,239 --> 00:40:43,680 Speaker 3: financial news that came out last week and heading some 690 00:40:43,800 --> 00:40:47,759 Speaker 3: very good news. As a matter of fact, they have 691 00:40:47,920 --> 00:40:52,760 Speaker 3: these surveys which are called the. 692 00:40:51,880 --> 00:40:53,080 Speaker 2: S and P Global. 693 00:40:53,480 --> 00:40:57,440 Speaker 3: They talk about their Flash PMI Purchasing Managers Index. 694 00:40:57,719 --> 00:40:59,040 Speaker 2: They have that not only. 695 00:40:58,840 --> 00:41:03,880 Speaker 3: In the manufacturing sector, but also in the services sector, 696 00:41:04,440 --> 00:41:07,960 Speaker 3: and all of those numbers last week came in very positive. 697 00:41:08,320 --> 00:41:12,440 Speaker 3: The Flash US Composite PMI Purchasing Managers Index in terms 698 00:41:12,440 --> 00:41:15,760 Speaker 3: of where they feel about their companies and what they're 699 00:41:16,160 --> 00:41:20,560 Speaker 3: looking to do over the next year. That index came 700 00:41:20,600 --> 00:41:23,720 Speaker 3: in at fifty two point eight versus fifty two point seven, 701 00:41:24,000 --> 00:41:28,360 Speaker 3: which was a two month high. The services PMI activity 702 00:41:28,440 --> 00:41:32,280 Speaker 3: came in at fifty two point five, unchanged from the previous. 703 00:41:32,760 --> 00:41:37,919 Speaker 3: US Manufacturing Output index climbed to fifty four point eight, 704 00:41:38,200 --> 00:41:41,799 Speaker 3: which was a five month high. So again, things as 705 00:41:41,800 --> 00:41:44,600 Speaker 3: far as the manufacturing sector, which is one of the 706 00:41:44,680 --> 00:41:48,280 Speaker 3: areas that have been talked about in terms of weakness 707 00:41:48,320 --> 00:41:50,920 Speaker 3: of the economy, they keep saying that you know, the 708 00:41:51,000 --> 00:41:55,399 Speaker 3: manufacturing a lot of manufacturing jobs moving overseas, that manufacturing 709 00:41:55,440 --> 00:41:58,080 Speaker 3: in the United States is coming, you know, is not 710 00:41:58,360 --> 00:42:01,879 Speaker 3: surviving very well. With these index that came out, these 711 00:42:01,960 --> 00:42:06,040 Speaker 3: indiceas that came out last week, things are pointed in 712 00:42:06,120 --> 00:42:09,239 Speaker 3: the right direction, up five percent, up over a five 713 00:42:09,280 --> 00:42:12,879 Speaker 3: month high. So as some of these you hear from 714 00:42:12,880 --> 00:42:15,160 Speaker 3: time to time, a lot of these manufacturing I think 715 00:42:15,200 --> 00:42:18,120 Speaker 3: it was what was it last week that Buick announced 716 00:42:18,160 --> 00:42:22,719 Speaker 3: that they were moving the manufacturing of their SUVs from 717 00:42:22,800 --> 00:42:26,400 Speaker 3: China to the United States. That's going to add significant 718 00:42:26,440 --> 00:42:29,319 Speaker 3: number of jobs in the United States. You've had you've 719 00:42:29,320 --> 00:42:33,120 Speaker 3: heard these terms in terms of near shoring or on shoring, 720 00:42:33,640 --> 00:42:38,040 Speaker 3: where businesses from the East and you know even in Europe. 721 00:42:38,239 --> 00:42:42,240 Speaker 3: Any of the manufacturing facilities that are moving their facilities 722 00:42:42,320 --> 00:42:46,479 Speaker 3: back to the United States, that's onshoring. Near shoring would 723 00:42:46,480 --> 00:42:49,600 Speaker 3: be companies that are doing business in Canada. We just 724 00:42:49,680 --> 00:42:53,160 Speaker 3: saw last week, a couple of weeks ago, the certain 725 00:42:53,200 --> 00:42:56,360 Speaker 3: manufacturing facilities I can't remember which one it is is 726 00:42:56,400 --> 00:43:00,640 Speaker 3: actually moving from Canada back to the United States. Is GM, 727 00:43:01,120 --> 00:43:03,439 Speaker 3: Is it GM Trucks or something like that that they're 728 00:43:03,480 --> 00:43:05,480 Speaker 3: moving back to the United States, and of course some 729 00:43:05,520 --> 00:43:09,080 Speaker 3: of the manufacturing facilities are currently in Mexico or other 730 00:43:09,160 --> 00:43:12,520 Speaker 3: areas close to in this hemisphere moving back to the 731 00:43:12,640 --> 00:43:15,600 Speaker 3: United States. So a lot of very good positive news 732 00:43:15,800 --> 00:43:19,160 Speaker 3: in terms of the manufacturing section and as well as 733 00:43:19,200 --> 00:43:23,160 Speaker 3: in the services industry, because when you're looking at where 734 00:43:23,680 --> 00:43:24,520 Speaker 3: the jobs are. 735 00:43:24,800 --> 00:43:25,719 Speaker 2: When we start. 736 00:43:25,440 --> 00:43:29,799 Speaker 3: Seeing job increases in the hospitality and restaurant facilities, that's 737 00:43:29,840 --> 00:43:33,320 Speaker 3: an indication that people are still going out spending money. 738 00:43:33,680 --> 00:43:36,280 Speaker 3: And if you're seeing, as we talked about and pointed 739 00:43:36,320 --> 00:43:39,320 Speaker 3: out the other day, that some of the inflation numbers 740 00:43:39,320 --> 00:43:42,120 Speaker 3: that we are seeing are in the services sector. 741 00:43:42,560 --> 00:43:43,959 Speaker 2: The services sector. 742 00:43:43,760 --> 00:43:46,960 Speaker 3: Is not reliant on tariffs, they are not affected by tariffs, 743 00:43:47,120 --> 00:43:49,360 Speaker 3: so that has to do with wages. So if the 744 00:43:49,400 --> 00:43:52,440 Speaker 3: wages in those areas are going up, that's going to 745 00:43:52,480 --> 00:43:55,880 Speaker 3: affect the prices, and then add to inflation, that is 746 00:43:55,920 --> 00:43:59,640 Speaker 3: a little tougher to maintain. That's a little bit tougher 747 00:43:59,760 --> 00:44:02,160 Speaker 3: to bring down because you're not going to go to 748 00:44:02,200 --> 00:44:04,719 Speaker 3: your employees and say, hey, you know what, you want 749 00:44:04,760 --> 00:44:08,280 Speaker 3: to take a fifty cent per hour cut and pay 750 00:44:08,480 --> 00:44:11,799 Speaker 3: because we're trying to rain in inflation. So what is 751 00:44:11,840 --> 00:44:15,240 Speaker 3: going to have to happen is for the volume to increase, 752 00:44:15,520 --> 00:44:18,680 Speaker 3: productivity levels to go up so that you spread that 753 00:44:19,200 --> 00:44:23,040 Speaker 3: cost to manufacture that down so that the overall price 754 00:44:23,200 --> 00:44:26,360 Speaker 3: of those goods come down and lower those rates. Also 755 00:44:26,640 --> 00:44:29,160 Speaker 3: trying to make sure in terms of where we're importing 756 00:44:29,200 --> 00:44:31,000 Speaker 3: some of these things. I mean, we've been seeing some 757 00:44:31,040 --> 00:44:33,160 Speaker 3: of the problems that have been as far as drought 758 00:44:33,200 --> 00:44:37,840 Speaker 3: related with certain agricultural products that we import into the country. 759 00:44:38,040 --> 00:44:40,200 Speaker 3: So those are some of the things that are beyond 760 00:44:40,239 --> 00:44:44,399 Speaker 3: control of our central bank and the government. So anyway, folks, 761 00:44:44,440 --> 00:44:46,560 Speaker 3: we're up against clock here. Stay tuned for Red Eye 762 00:44:46,680 --> 00:44:49,680 Speaker 3: Radio Top of the Hour. I'm Kevin Gordon. Be safe 763 00:44:49,680 --> 00:44:58,000 Speaker 3: out there. America's truck a Network seven hundred WLW. 764 00:44:55,520 --> 00:45:00,120 Speaker 5: News Traffic and Weather News Radio seven hundred day w 765 00:45:00,560 --> 00:45:02,480 Speaker 5: l W Cincinnati. 766 00:45:03,719 --> 00:45:05,720 Speaker 4: Another shooting involving border