1 00:00:06,000 --> 00:00:08,840 Speaker 1: This is America's Trucking Network with Kevin Gordon. 2 00:00:10,920 --> 00:00:15,920 Speaker 2: Welcomeboard, Thanks for tuning in on this Thursday morning. Because 3 00:00:16,120 --> 00:00:21,480 Speaker 2: the trucking industry is the backbone of this country and 4 00:00:21,600 --> 00:00:27,840 Speaker 2: because gas, diesel, and energy costs are the life's blood 5 00:00:27,920 --> 00:00:31,040 Speaker 2: of the industry. Want to start off the program today 6 00:00:31,160 --> 00:00:34,320 Speaker 2: talking about what's going on in the Middle East. We've 7 00:00:34,360 --> 00:00:40,200 Speaker 2: seen an increase in diesel prices, increase in petroleum prices. However, 8 00:00:41,000 --> 00:00:44,200 Speaker 2: we are actually starting to see those prices come down. 9 00:00:45,000 --> 00:00:47,640 Speaker 2: There were people that were predicting that we were going 10 00:00:47,680 --> 00:00:50,839 Speaker 2: to see oil prices as high as one hundred dollars 11 00:00:51,360 --> 00:00:55,400 Speaker 2: some of them. That seems the consensus was around ninety dollars. Now, 12 00:00:55,440 --> 00:00:59,040 Speaker 2: as you may recall, we've been talking about oil prices since, 13 00:00:59,160 --> 00:01:01,800 Speaker 2: you know, pretty much since well since I've taken over 14 00:01:01,840 --> 00:01:04,600 Speaker 2: the show, usually at least one segment or at least 15 00:01:04,600 --> 00:01:06,640 Speaker 2: a couple of times during the week, just to kind 16 00:01:06,640 --> 00:01:09,040 Speaker 2: of keep an eyeball on what's going on during the 17 00:01:09,080 --> 00:01:12,240 Speaker 2: Biden administration and then of course during the Trump administration. 18 00:01:12,640 --> 00:01:16,920 Speaker 2: And we at one point during this term of the 19 00:01:16,959 --> 00:01:21,520 Speaker 2: second term of Donald Trump, our oil prices were in 20 00:01:21,560 --> 00:01:25,840 Speaker 2: the range of about twenty one to twenty two percent lower. 21 00:01:26,240 --> 00:01:30,840 Speaker 2: The oil prices were twenty two percent lower than what 22 00:01:30,959 --> 00:01:33,760 Speaker 2: they were at the start of his presidency or his 23 00:01:33,840 --> 00:01:37,480 Speaker 2: second term. I should say gasoline prices have been coming 24 00:01:37,520 --> 00:01:40,959 Speaker 2: down considerably. They have taken a little bit of a 25 00:01:41,000 --> 00:01:45,600 Speaker 2: bump up. But again, as I mentioned energy prices, oil 26 00:01:45,680 --> 00:01:48,720 Speaker 2: prices are coming down. As a matter of fact, West 27 00:01:48,720 --> 00:01:51,680 Speaker 2: Texas intermediate crewed currently is seventy four dollars and forty 28 00:01:51,680 --> 00:01:55,360 Speaker 2: five cents. It is down two dollars in I'm sorry, 29 00:01:55,480 --> 00:01:59,440 Speaker 2: it is down eleven cents. So basically it's unchanged since yesterday. 30 00:02:00,000 --> 00:02:02,559 Speaker 2: Brent crude currently at eighty one dollars and eight cents. 31 00:02:02,760 --> 00:02:06,720 Speaker 2: It is down thirty two cents from yesterday, pretty much unchanged, 32 00:02:06,920 --> 00:02:10,919 Speaker 2: which indicates that some of the war premium war risk 33 00:02:11,040 --> 00:02:13,480 Speaker 2: is out of it. We are still two dollars and 34 00:02:13,560 --> 00:02:18,120 Speaker 2: forty four cents less as far as West Texas intermediate crude, 35 00:02:18,400 --> 00:02:21,360 Speaker 2: or three percent less than when Trump took office. 36 00:02:21,400 --> 00:02:22,400 Speaker 3: In his second term. 37 00:02:22,600 --> 00:02:24,760 Speaker 2: Brent crude, on the other hand, is up a dollar 38 00:02:24,840 --> 00:02:29,520 Speaker 2: eighteen dollar dollar eighteen cents of barrel, or a one 39 00:02:29,560 --> 00:02:33,320 Speaker 2: point five increase. Now, what's going on is it appears 40 00:02:33,440 --> 00:02:39,960 Speaker 2: as though that the Iran military and their missile launching 41 00:02:40,040 --> 00:02:44,240 Speaker 2: capabilities have been depleted and less and less rockets. They 42 00:02:44,280 --> 00:02:47,200 Speaker 2: started off on day one with about two hundred rockets, 43 00:02:47,240 --> 00:02:50,560 Speaker 2: missiles flying all over the Middle East trying to hit 44 00:02:50,639 --> 00:02:56,959 Speaker 2: American air bases and trying to disrupt oil infrastructure, refineries 45 00:02:57,080 --> 00:03:01,520 Speaker 2: or whatever on their neighbors. On the fellow members of 46 00:03:02,080 --> 00:03:06,399 Speaker 2: OPEK and like I said, the first day of two 47 00:03:06,480 --> 00:03:09,960 Speaker 2: hundred rockets, the second day one hundred and sum they 48 00:03:09,960 --> 00:03:12,440 Speaker 2: were down to about twenty. I think yesterday is some 49 00:03:12,520 --> 00:03:16,720 Speaker 2: of the current numbers. And so with what's going on there, 50 00:03:16,800 --> 00:03:19,880 Speaker 2: they're still concerned about the Strait of Horror moves. Now 51 00:03:20,040 --> 00:03:24,119 Speaker 2: according to what's going on is that according to Reuters, 52 00:03:24,280 --> 00:03:27,440 Speaker 2: what they're talking about, oil prices were steadied despite volatile 53 00:03:27,480 --> 00:03:31,560 Speaker 2: training on Wednesday, as further US Israeli strikes against Iran 54 00:03:31,800 --> 00:03:35,360 Speaker 2: escalated the conflict in paralyzed shipping to the Strait of 55 00:03:35,360 --> 00:03:39,440 Speaker 2: Horror moves. That's not quite accurate. They're talking about the 56 00:03:39,440 --> 00:03:41,800 Speaker 2: Strait of Horror moves the fifth day of the impact 57 00:03:41,960 --> 00:03:45,480 Speaker 2: in the Middle East Gas and Oil. Phil Flynn in 58 00:03:45,560 --> 00:03:49,800 Speaker 2: his Energy Report talks about how the fact that oil 59 00:03:49,840 --> 00:03:53,000 Speaker 2: prices already signaling a quick victory in Iran. 60 00:03:53,560 --> 00:03:54,200 Speaker 3: Question mark. 61 00:03:54,520 --> 00:03:57,480 Speaker 2: We've seen some dramatic moves in Europe, especially when it 62 00:03:57,480 --> 00:04:00,680 Speaker 2: comes to diesel crack spreads, and he talked about some 63 00:04:00,800 --> 00:04:03,960 Speaker 2: of the stuff as far as liquid natural gas. Oil 64 00:04:04,000 --> 00:04:06,880 Speaker 2: prices in the US are backing down after report from 65 00:04:06,960 --> 00:04:11,080 Speaker 2: New York Times that Iranian operatives have reached out looking 66 00:04:11,120 --> 00:04:14,320 Speaker 2: for terms to end the war. It's unclear if Donald 67 00:04:14,360 --> 00:04:17,680 Speaker 2: Trump it will grab to solid branch, but because the 68 00:04:17,720 --> 00:04:21,000 Speaker 2: market surge and the crew was much less than many 69 00:04:21,000 --> 00:04:24,359 Speaker 2: people could have predicted, and the back end of the 70 00:04:24,400 --> 00:04:27,839 Speaker 2: future curve is suggesting that the conflict will be over 71 00:04:28,360 --> 00:04:32,479 Speaker 2: very soon. Now added to this is that because of 72 00:04:32,520 --> 00:04:36,360 Speaker 2: the strait of her moves, possibly the threat there and 73 00:04:36,560 --> 00:04:41,400 Speaker 2: oil and actually all trade not going through there, there 74 00:04:41,400 --> 00:04:44,599 Speaker 2: has been a movement as far as Donald Trump talking 75 00:04:44,680 --> 00:04:50,800 Speaker 2: about possibly having US ships escort tankers through that area, 76 00:04:50,920 --> 00:04:55,919 Speaker 2: as well as providing some insurance for them through a 77 00:04:55,920 --> 00:04:59,680 Speaker 2: agency of the federal government that would actually back and 78 00:05:00,080 --> 00:05:03,599 Speaker 2: sure these companies. What we've been seeing in terms of 79 00:05:03,680 --> 00:05:05,760 Speaker 2: part of the price and part of the increase in 80 00:05:05,839 --> 00:05:10,080 Speaker 2: terms of gasoline actually oil prices over the last five 81 00:05:10,200 --> 00:05:13,400 Speaker 2: days is the fact that part of that has to 82 00:05:13,440 --> 00:05:19,080 Speaker 2: do with the insurance costs on these tankers moving the 83 00:05:19,120 --> 00:05:22,360 Speaker 2: oil through the Red Sea Straight of Horror, moves into 84 00:05:22,800 --> 00:05:27,599 Speaker 2: the Sea of Aiden and then onto the Indian Ocean 85 00:05:27,880 --> 00:05:30,320 Speaker 2: to different ports, cutting down the time. 86 00:05:30,640 --> 00:05:31,719 Speaker 3: Now if they have. 87 00:05:31,600 --> 00:05:35,839 Speaker 2: To go around the west coast of Africa and around 88 00:05:35,880 --> 00:05:39,560 Speaker 2: the Cape of Good Hope, that adds, according to some estimates, 89 00:05:39,760 --> 00:05:44,599 Speaker 2: anywhere between ten to fourteen days, which then adds again 90 00:05:44,880 --> 00:05:48,320 Speaker 2: additional costs fuel. As far as the tankers are concerned, 91 00:05:48,720 --> 00:05:52,760 Speaker 2: if going through the Strait of Hormuz is risky and 92 00:05:52,800 --> 00:05:55,680 Speaker 2: the insurance rates are really high, that adds to it 93 00:05:55,760 --> 00:06:00,640 Speaker 2: as well. So as far as the federal government is concerned, government, 94 00:06:01,120 --> 00:06:05,599 Speaker 2: they're talking about having this pool of money available to 95 00:06:05,760 --> 00:06:09,680 Speaker 2: actually ensure that these ships are safe going through there. 96 00:06:10,360 --> 00:06:10,640 Speaker 3: Now. 97 00:06:10,720 --> 00:06:15,520 Speaker 2: On a side note, ever, since October seventh of twenty 98 00:06:15,600 --> 00:06:20,880 Speaker 2: twenty three, there is a group called the Israelis Defense 99 00:06:21,080 --> 00:06:26,520 Speaker 2: and Security Forum. I was connected with that group through 100 00:06:26,600 --> 00:06:29,400 Speaker 2: some friends of mine in the Jewish community here in 101 00:06:29,440 --> 00:06:33,279 Speaker 2: the Greater Cincinnati Northern Kentucky area, and I've had members 102 00:06:33,279 --> 00:06:36,599 Speaker 2: of that organization on I've had some of the IDF members, 103 00:06:36,680 --> 00:06:39,760 Speaker 2: the volunteers. Because a lot of people that are fighting 104 00:06:39,760 --> 00:06:42,839 Speaker 2: for the Israeli Defense Forces have actually lived in the 105 00:06:42,920 --> 00:06:46,720 Speaker 2: United States and they go over there as reservists and 106 00:06:47,520 --> 00:06:51,880 Speaker 2: provide military backup. Now, talking to a lot of those people, 107 00:06:52,400 --> 00:06:55,680 Speaker 2: and this group in particular, every day they do a 108 00:06:55,720 --> 00:06:57,120 Speaker 2: briefing on what's going on. 109 00:06:57,240 --> 00:06:59,520 Speaker 3: They talk about the war, with the. 110 00:06:59,480 --> 00:07:02,400 Speaker 2: War on Israel, and of course with the war against 111 00:07:02,440 --> 00:07:06,080 Speaker 2: Hamas Hasbala and the Huti rebels, as far as trying 112 00:07:06,080 --> 00:07:10,120 Speaker 2: to make the Israel more secure. I listened to that 113 00:07:10,280 --> 00:07:16,160 Speaker 2: program on Monday. They do that every Monday through Friday 114 00:07:16,640 --> 00:07:22,320 Speaker 2: at ten am, actually through Thursday, because when when we 115 00:07:22,360 --> 00:07:25,240 Speaker 2: get the feed here at ten o'clock in the morning, 116 00:07:25,840 --> 00:07:29,440 Speaker 2: it is five o'clock in the afternoon there. On Fridays, 117 00:07:29,480 --> 00:07:32,200 Speaker 2: five o'clock in the afternoon is right in the middle 118 00:07:32,200 --> 00:07:34,600 Speaker 2: of their Sabbath, and so they do not have a 119 00:07:34,640 --> 00:07:38,920 Speaker 2: briefing on that day. But the briefing on Monday was 120 00:07:39,360 --> 00:07:43,600 Speaker 2: very positive in terms of they were surprised that the 121 00:07:43,680 --> 00:07:48,640 Speaker 2: retaliation hadn't happened as quick. That reporting was cut a 122 00:07:48,640 --> 00:07:51,480 Speaker 2: little bit short because of some of the sirens and 123 00:07:51,520 --> 00:07:56,200 Speaker 2: these guys having to go to the bomb shelters. Listening 124 00:07:56,240 --> 00:07:59,320 Speaker 2: to it today, we got about half or got halfway 125 00:07:59,360 --> 00:08:01,800 Speaker 2: through it, and again they had to cut the broadcast 126 00:08:01,840 --> 00:08:06,559 Speaker 2: short because they were actually yesterday morning they were having 127 00:08:06,600 --> 00:08:08,640 Speaker 2: to cut it short because they were getting these air 128 00:08:08,720 --> 00:08:12,560 Speaker 2: raid sirens. And just imagine, Okay, you're living in a 129 00:08:12,600 --> 00:08:15,520 Speaker 2: cut well in any country, living in wherever you are, 130 00:08:16,320 --> 00:08:19,000 Speaker 2: and that you always have to be conscious of where 131 00:08:19,320 --> 00:08:22,680 Speaker 2: the bomb shelters are. Now all around the cities there 132 00:08:22,720 --> 00:08:26,640 Speaker 2: are these portable bomb shelters that are near playgrounds and 133 00:08:26,840 --> 00:08:30,480 Speaker 2: children are accustomed to when they hear the sirens, they 134 00:08:30,800 --> 00:08:34,560 Speaker 2: rush to these bomb shelters, these portable bomb shelters that 135 00:08:34,600 --> 00:08:37,440 Speaker 2: are around the area, and you know, and wait for the 136 00:08:37,440 --> 00:08:39,559 Speaker 2: all clear and then go out back out and play. 137 00:08:39,760 --> 00:08:43,240 Speaker 2: This has become common practice with them, and as far 138 00:08:43,280 --> 00:08:46,280 Speaker 2: as these businesses are concerned, they do the same thing. 139 00:08:46,559 --> 00:08:49,520 Speaker 2: They have bomb shelters within their buildings. They have a 140 00:08:49,559 --> 00:08:53,720 Speaker 2: lot of people have bomb shelters within their homes. Imagine 141 00:08:53,920 --> 00:08:56,360 Speaker 2: living like that and the way they've had to live 142 00:08:56,480 --> 00:09:01,360 Speaker 2: like this for decades now. The things they talked about 143 00:09:01,400 --> 00:09:05,920 Speaker 2: today or yesterday rather during that briefing is that any 144 00:09:06,040 --> 00:09:09,800 Speaker 2: sign from Iran that they want to have peace, it 145 00:09:09,880 --> 00:09:14,960 Speaker 2: has to be for them unconditional surrender, that there will 146 00:09:15,000 --> 00:09:16,600 Speaker 2: be no more. 147 00:09:16,760 --> 00:09:18,000 Speaker 3: Of these hostilities. 148 00:09:18,320 --> 00:09:21,200 Speaker 2: There will be a regime change that they will become 149 00:09:21,280 --> 00:09:25,960 Speaker 2: a productive member of society and join the league or 150 00:09:26,640 --> 00:09:31,440 Speaker 2: a community of nations to stop this nonsense of trying 151 00:09:31,480 --> 00:09:35,400 Speaker 2: to stir things up in the Middle East. And if 152 00:09:35,440 --> 00:09:39,520 Speaker 2: that is the benefit of this, the whole area is 153 00:09:39,559 --> 00:09:44,400 Speaker 2: going to prosper. Our economy, the world's economy will increase. 154 00:09:44,440 --> 00:09:48,360 Speaker 2: Because there's this lack of threat and any of this 155 00:09:48,520 --> 00:09:51,520 Speaker 2: reaching out that the New York Times is reporting, this 156 00:09:51,679 --> 00:09:55,040 Speaker 2: olive branch, I'm not sure that that is going to 157 00:09:55,080 --> 00:10:00,240 Speaker 2: be done unless there is a total, unconditional surrender. They 158 00:10:00,280 --> 00:10:03,360 Speaker 2: are on their heels. There is no need to pause 159 00:10:03,440 --> 00:10:08,240 Speaker 2: the hostilities they are being It is very they are 160 00:10:08,280 --> 00:10:12,120 Speaker 2: not being able to fight back very much, and anything 161 00:10:12,160 --> 00:10:15,560 Speaker 2: that are held, they've already knocked out forty eight of 162 00:10:15,600 --> 00:10:20,000 Speaker 2: their leaders, that second rate wave of leaders, and now 163 00:10:20,000 --> 00:10:22,880 Speaker 2: they're wiping out the third wave. So at some point 164 00:10:22,920 --> 00:10:25,199 Speaker 2: in time they're going to have to say enough is enough, 165 00:10:25,280 --> 00:10:29,520 Speaker 2: and we give up and eradicate those people from that 166 00:10:29,640 --> 00:10:33,079 Speaker 2: government and turn it back over to the people. So anyway, 167 00:10:33,120 --> 00:10:35,240 Speaker 2: that's kind of my two cents worth on that, And 168 00:10:35,320 --> 00:10:38,360 Speaker 2: of course with that in mind, we are seeing oil 169 00:10:38,440 --> 00:10:43,960 Speaker 2: prices coming down. We are seeing gasoline prices stabilizing, which 170 00:10:44,000 --> 00:10:46,320 Speaker 2: is going to make all the comments that we've been 171 00:10:46,400 --> 00:10:49,080 Speaker 2: hearing from some of these so called experts and these 172 00:10:49,120 --> 00:10:53,439 Speaker 2: so called Democratic leaders going to look awfully foolish over 173 00:10:53,520 --> 00:10:56,280 Speaker 2: the coming days. I'm Kevin Gordon, America's truck In Network 174 00:10:56,520 --> 00:10:58,520 Speaker 2: seven hundred WLW. 175 00:11:00,000 --> 00:11:03,320 Speaker 1: What need this is the racing repard on America's Trucking 176 00:11:03,360 --> 00:11:05,720 Speaker 1: Network on seven hundred WLW. 177 00:11:06,480 --> 00:11:09,239 Speaker 4: TV ratings are in for a full weekend of motorsports. 178 00:11:09,240 --> 00:11:11,839 Speaker 4: The NASCAR Cup Series race at Circuit of the America's 179 00:11:12,080 --> 00:11:15,920 Speaker 4: through three point nine million viewers, IndyCar at Saint Petersburg 180 00:11:16,040 --> 00:11:19,200 Speaker 4: one point three to three million areill Auto Parks Race 181 00:11:19,200 --> 00:11:21,599 Speaker 4: at CODA with just over a million viewers, and the 182 00:11:21,720 --> 00:11:24,760 Speaker 4: Truck race also in Saint Pete just over a million viewers. 183 00:11:25,120 --> 00:11:28,040 Speaker 4: Track House Racing has annows the extension of apparel partner 184 00:11:28,120 --> 00:11:30,439 Speaker 4: Jockey International Incorporated. 185 00:11:29,840 --> 00:11:31,240 Speaker 3: For the twenty twenty six season. 186 00:11:31,600 --> 00:11:35,360 Speaker 4: Jockey will adorn Ross Chastain's number one Chevy and Connor 187 00:11:35,440 --> 00:11:39,000 Speaker 4: Zillig's number eighty eight Chevy for select races. 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Don't miss out register 205 00:12:42,480 --> 00:12:45,240 Speaker 5: now at truckingshow dot com. 206 00:12:45,320 --> 00:12:47,440 Speaker 6: If you were a loved one has sleep apnea, you 207 00:12:47,440 --> 00:12:49,880 Speaker 6: can help advance research that may lead to a cure 208 00:12:50,160 --> 00:12:54,080 Speaker 6: myapnea dot org is an online community where providers, researchers, 209 00:12:54,120 --> 00:12:56,960 Speaker 6: families and patients can share and learn from each other. 210 00:12:57,160 --> 00:12:59,360 Speaker 6: Fill out the online survey and wake up to a 211 00:12:59,400 --> 00:13:02,760 Speaker 6: better future at myapnea dot org. A public service from 212 00:13:02,760 --> 00:13:04,600 Speaker 6: the American Sleep Apnea Association. 213 00:13:08,040 --> 00:13:09,360 Speaker 3: I'm Kevin Brd. 214 00:13:09,080 --> 00:13:13,600 Speaker 2: An American struck a network seven hundred WLW in addition 215 00:13:13,760 --> 00:13:15,840 Speaker 2: to the good news that we were hearing out of 216 00:13:15,840 --> 00:13:19,959 Speaker 2: the Mid East with the war with Iran and attempting 217 00:13:20,000 --> 00:13:24,480 Speaker 2: to eradicate this brutal regime, and again, I want to 218 00:13:24,520 --> 00:13:26,880 Speaker 2: emphasize the fact that a lot of people seem to 219 00:13:26,920 --> 00:13:31,640 Speaker 2: forget that we have been with war one sided war 220 00:13:32,000 --> 00:13:37,079 Speaker 2: with Iran for forty seven years, ever since they captured 221 00:13:37,440 --> 00:13:41,560 Speaker 2: forty four of our embassy people at one time it 222 00:13:41,600 --> 00:13:45,200 Speaker 2: was fifty six. They wound up releasing twelve of them 223 00:13:45,400 --> 00:13:48,360 Speaker 2: because of health conditions and whatever, but held on to 224 00:13:48,440 --> 00:13:52,560 Speaker 2: those people for four hundred and forty four days. And 225 00:13:52,600 --> 00:13:55,760 Speaker 2: the only reason that they gave them up or ended 226 00:13:55,800 --> 00:14:00,000 Speaker 2: the hostage crisis was because Ronald Reagan, coming into office 227 00:14:00,160 --> 00:14:04,080 Speaker 2: in nineteen eighty said, if these hostages are not released 228 00:14:04,080 --> 00:14:07,080 Speaker 2: by the time I become president, all hell is going 229 00:14:07,120 --> 00:14:10,920 Speaker 2: to break loose, and of course they back down. Now 230 00:14:11,840 --> 00:14:18,160 Speaker 2: they have been declared a terrorist network. Ever since nineteen 231 00:14:18,200 --> 00:14:22,240 Speaker 2: eighty four, they've been declared a state sponsor of terror. 232 00:14:22,360 --> 00:14:26,000 Speaker 2: Since that period of time, we have lost thousands of 233 00:14:26,200 --> 00:14:30,640 Speaker 2: American lives because of IEDs. A number of our soldiers 234 00:14:30,840 --> 00:14:34,400 Speaker 2: wounded as a result of those, the various embassies attacks, 235 00:14:34,640 --> 00:14:38,760 Speaker 2: the Coobar Towers, the marine barracks in nineteen eighty three. 236 00:14:39,120 --> 00:14:41,960 Speaker 3: All of these deaths are attributed to Iran. 237 00:14:42,640 --> 00:14:46,800 Speaker 2: And finally somebody has come along and said, after they 238 00:14:46,840 --> 00:14:51,760 Speaker 2: have had their proxies like Hamas attack Israel on October 239 00:14:51,800 --> 00:14:55,280 Speaker 2: the seventh, twenty twenty three, the Huti Rebels tying up 240 00:14:55,320 --> 00:15:00,600 Speaker 2: shipping lanes and making it more expensive for ships to 241 00:15:00,640 --> 00:15:03,840 Speaker 2: go through the Strait of Horror, moves attacking them, has 242 00:15:03,920 --> 00:15:08,920 Speaker 2: blots of the north of Israel, attacking them from Lebanon. Finally, 243 00:15:09,080 --> 00:15:12,560 Speaker 2: you know, somebody's come along and said, enough is enough. 244 00:15:13,040 --> 00:15:15,280 Speaker 2: We are not putting up with this crap anymore. And 245 00:15:15,400 --> 00:15:19,160 Speaker 2: especially if somebody keeps saying death to America, We're going 246 00:15:19,240 --> 00:15:20,080 Speaker 2: to annihilate you. 247 00:15:20,480 --> 00:15:23,080 Speaker 3: And some of the indications came from some of those. 248 00:15:24,760 --> 00:15:29,160 Speaker 2: Meetings with Stephen Witkoff and Jared Kushner when they sat 249 00:15:29,280 --> 00:15:32,960 Speaker 2: down with the Iranians to do these negotiations over the 250 00:15:33,040 --> 00:15:36,040 Speaker 2: last month or so, the delegation. 251 00:15:35,640 --> 00:15:39,040 Speaker 3: Came in and were very bold and very. 252 00:15:40,880 --> 00:15:48,280 Speaker 2: Confident and said, we already have enough nuclear visible material 253 00:15:48,680 --> 00:15:52,400 Speaker 2: for eleven nuclear bombs and we're not given any of 254 00:15:52,440 --> 00:15:55,600 Speaker 2: it up. Well, you know, you don't go into a 255 00:15:55,640 --> 00:16:00,320 Speaker 2: negotiation when you really don't have a strong hand. And 256 00:16:00,600 --> 00:16:03,800 Speaker 2: it proved back in June that they aren't not very 257 00:16:03,840 --> 00:16:08,080 Speaker 2: good at keeping bombs from hitting their facilities, to them 258 00:16:08,120 --> 00:16:10,840 Speaker 2: to brag about and saying that they're in a position 259 00:16:10,880 --> 00:16:14,560 Speaker 2: of power. And so enough is enough getting rid of 260 00:16:14,560 --> 00:16:17,280 Speaker 2: this regime and getting it back to the people and 261 00:16:17,320 --> 00:16:22,280 Speaker 2: becoming a better partner, neighborhood neighbor in the area over 262 00:16:22,280 --> 00:16:26,200 Speaker 2: there is a good thing. So economic news that we're 263 00:16:26,240 --> 00:16:28,800 Speaker 2: looking at, and it's just, you know, all these people 264 00:16:28,840 --> 00:16:32,000 Speaker 2: that are saying that what was the basis of this, 265 00:16:32,160 --> 00:16:35,520 Speaker 2: Where was the exit? Where was the immediate threat? Well, 266 00:16:35,520 --> 00:16:38,200 Speaker 2: the immediate threat has been there for forty seven years. 267 00:16:38,520 --> 00:16:40,440 Speaker 2: It's just a lot of people just haven't been paying 268 00:16:40,480 --> 00:16:43,400 Speaker 2: attention to it, and it's time for it to be eliminated. 269 00:16:43,440 --> 00:16:46,120 Speaker 2: But anyway, getting to some economic news, we've got some 270 00:16:46,200 --> 00:16:50,040 Speaker 2: very positive numbers from ADP. Private companies added sixty three 271 00:16:50,080 --> 00:16:55,280 Speaker 2: thousand jobs in February and January was revised to just 272 00:16:55,360 --> 00:17:00,560 Speaker 2: eleven thousand additions. According to ADP, private sector hiring was 273 00:17:00,600 --> 00:17:03,480 Speaker 2: a bit better than expected in February, though most of 274 00:17:03,520 --> 00:17:07,119 Speaker 2: the job creation came from just two sectors. Companies added 275 00:17:07,119 --> 00:17:10,560 Speaker 2: to seasonally adjusted sixty three thousand workers during the month, 276 00:17:10,680 --> 00:17:14,879 Speaker 2: and improvement from the downwardly revised eleven thousand in January. 277 00:17:15,119 --> 00:17:19,160 Speaker 2: Now they don't mention what the number was in January, 278 00:17:19,200 --> 00:17:20,520 Speaker 2: so I had to go back and look it up. 279 00:17:21,080 --> 00:17:22,399 Speaker 3: The estimate of the number of. 280 00:17:22,440 --> 00:17:25,479 Speaker 2: Jobs created, a number of jobs added in the private sector. 281 00:17:25,520 --> 00:17:28,119 Speaker 2: This is not the jobs report that we'll be getting 282 00:17:28,119 --> 00:17:32,200 Speaker 2: on Friday. This is the initial report from ADP. As 283 00:17:32,240 --> 00:17:36,439 Speaker 2: far as private sector jobs, that number last month was 284 00:17:36,480 --> 00:17:39,720 Speaker 2: twenty two thousand. They revised that down to eleven thousand, 285 00:17:40,080 --> 00:17:43,920 Speaker 2: but the sixty three thousand is what had been reported. Now, 286 00:17:44,040 --> 00:17:48,639 Speaker 2: the consensus estimates were forty eight thousand being added, so 287 00:17:49,320 --> 00:17:52,840 Speaker 2: the numbers that were generated were thirty one percent better 288 00:17:53,080 --> 00:17:55,919 Speaker 2: than what the so called experts had predicted. 289 00:17:57,280 --> 00:17:58,919 Speaker 3: Though the total beat expectation. 290 00:17:59,080 --> 00:18:01,720 Speaker 2: The issues of bread to continue to be a problem 291 00:18:01,840 --> 00:18:05,080 Speaker 2: for the labor market. Education and health services, and the 292 00:18:05,119 --> 00:18:08,800 Speaker 2: industry that has been the primary driver for job creation, 293 00:18:09,280 --> 00:18:12,679 Speaker 2: added fifty eight thousand jobs for the month, easily leading 294 00:18:12,680 --> 00:18:17,440 Speaker 2: all sectors. After that, Construction contributed nineteen thousand, which isn't bad, 295 00:18:17,880 --> 00:18:21,600 Speaker 2: and the two industries offsetting stagnant growth Across the other sectors. 296 00:18:22,000 --> 00:18:26,199 Speaker 2: Professional and business services saw a decline of thirty thousand positions, 297 00:18:26,600 --> 00:18:32,000 Speaker 2: Manufacturing lost five thousand, and trade, transportation and utilities were 298 00:18:32,040 --> 00:18:35,600 Speaker 2: off by a thousand other than a gain of eleven thousand, 299 00:18:35,680 --> 00:18:39,280 Speaker 2: and the information services everything else kind of panned out, 300 00:18:39,400 --> 00:18:44,720 Speaker 2: so the sixty sixty three thousand jobs in the private 301 00:18:44,760 --> 00:18:49,159 Speaker 2: sector were added. Now, when they look at these positions 302 00:18:49,480 --> 00:18:53,600 Speaker 2: and where they are coming from, they are talking about 303 00:18:53,680 --> 00:18:58,359 Speaker 2: the job market being stable, but not a robust growth. 304 00:18:58,400 --> 00:19:02,560 Speaker 2: It's kind of still in this low higher low fire situation. 305 00:19:03,240 --> 00:19:08,000 Speaker 2: On the wage side, pay grew four point five percent 306 00:19:08,160 --> 00:19:12,520 Speaker 2: for those staying on their jobs, unchanged from January now 307 00:19:12,640 --> 00:19:16,800 Speaker 2: at four point five percent increase. With some of the 308 00:19:16,840 --> 00:19:19,719 Speaker 2: inflation numbers that we saw at the tail end of 309 00:19:19,800 --> 00:19:23,280 Speaker 2: last month and what we'll be seeing later on those 310 00:19:24,000 --> 00:19:27,400 Speaker 2: inflation rate is around two point eight to three percent. 311 00:19:27,920 --> 00:19:31,840 Speaker 2: So if inflation is going up three percent and wage 312 00:19:31,960 --> 00:19:35,679 Speaker 2: growth is going up four point five percent, it is 313 00:19:35,760 --> 00:19:39,320 Speaker 2: a head of the inflationary factor, which is a reverse 314 00:19:39,359 --> 00:19:42,199 Speaker 2: of what it was during the Biden administration when we 315 00:19:42,240 --> 00:19:47,040 Speaker 2: saw wages going down or wages staying steady and inflation 316 00:19:47,240 --> 00:19:50,320 Speaker 2: going up and the wage increases, we're not keeping pace 317 00:19:50,400 --> 00:19:55,040 Speaker 2: with the inflation. Again, more talking about what some people 318 00:19:55,119 --> 00:20:00,480 Speaker 2: are calling the affordability factor again and a little bit 319 00:20:00,560 --> 00:20:04,400 Speaker 2: further deep into this, job switchers moved down to six 320 00:20:04,440 --> 00:20:08,600 Speaker 2: point three percent, a point three percent decrease. So the 321 00:20:08,720 --> 00:20:12,680 Speaker 2: job switchers saw an increase in their pay of six 322 00:20:12,760 --> 00:20:17,280 Speaker 2: point three percent, which is well few and far between, 323 00:20:17,359 --> 00:20:21,000 Speaker 2: because again, with a low higher low fire situation, not 324 00:20:21,080 --> 00:20:24,159 Speaker 2: a whole lot of companies are actually adding people, but 325 00:20:24,400 --> 00:20:27,600 Speaker 2: in particular skills or in areas where they are needed, 326 00:20:27,920 --> 00:20:30,960 Speaker 2: there is an opportunity to switch jobs and go to 327 00:20:31,040 --> 00:20:36,639 Speaker 2: a different job. According to Neila Richardson, she is ADP's 328 00:20:36,720 --> 00:20:40,359 Speaker 2: chief economist, we've seen an increase in hiring and pay 329 00:20:40,400 --> 00:20:46,280 Speaker 2: gains remain solid, especially for job stayers, but with hiring 330 00:20:46,359 --> 00:20:49,600 Speaker 2: concentrated in only a few sectors, our data shows no 331 00:20:49,800 --> 00:20:54,760 Speaker 2: widespread pay benefit from changing jobs. Now, this is good 332 00:20:54,800 --> 00:20:59,440 Speaker 2: news and a switch from recent job creation was concentrated 333 00:20:59,480 --> 00:21:03,960 Speaker 2: at business is with fewer than fifty employees. Now, if 334 00:21:04,000 --> 00:21:06,600 Speaker 2: you look at the job market and you look at 335 00:21:06,640 --> 00:21:10,760 Speaker 2: the individual companies out there, the vast majority of people 336 00:21:10,960 --> 00:21:15,439 Speaker 2: that are employed are working for companies that have less 337 00:21:15,480 --> 00:21:19,199 Speaker 2: than fifty employees. If you look at the small businesses 338 00:21:19,480 --> 00:21:22,320 Speaker 2: and the number of people that work for small businesses 339 00:21:22,640 --> 00:21:26,399 Speaker 2: compared to those that work for large corporations, I think, 340 00:21:26,560 --> 00:21:29,640 Speaker 2: if I'm not mistaken, I think the number was somewhere 341 00:21:29,640 --> 00:21:33,399 Speaker 2: around sixty five percent are in the smaller companies and 342 00:21:33,520 --> 00:21:36,520 Speaker 2: the thirty five percent are in the larger companies. So 343 00:21:36,600 --> 00:21:40,719 Speaker 2: if you're seeing job increases job growth in the firms 344 00:21:40,720 --> 00:21:43,840 Speaker 2: that are fifty or fewer employees, those are the people 345 00:21:43,840 --> 00:21:47,240 Speaker 2: that are closer to the ground, closer to the customers, 346 00:21:47,600 --> 00:21:50,280 Speaker 2: and they are seeing an increase or a need to 347 00:21:50,440 --> 00:21:54,440 Speaker 2: increase employees because they wouldn't be hiring people unless they're 348 00:21:54,440 --> 00:21:58,360 Speaker 2: seeing an increase in their business. So that's good news. 349 00:21:58,359 --> 00:22:00,000 Speaker 2: We'll pick a little bit of this up coming up. 350 00:22:00,200 --> 00:22:10,119 Speaker 2: I'm Kevin Gordon, America's struck In Network seven hundred WLW. 351 00:22:11,040 --> 00:22:13,560 Speaker 7: Here's your trucking forecast the Try State and the rest 352 00:22:13,600 --> 00:22:15,760 Speaker 7: of the country. In the Try State, over night showers 353 00:22:15,760 --> 00:22:17,720 Speaker 7: and a possible storm, the low down to fifty eight 354 00:22:17,800 --> 00:22:21,680 Speaker 7: showers impossible storms. Thursday, hies into the upper sixties. Friday, 355 00:22:21,760 --> 00:22:24,320 Speaker 7: chants of showers and storms any boy. The afternoon otherwise 356 00:22:24,320 --> 00:22:27,960 Speaker 7: partly sunny. A high of seventy seven. Showers return Saturday, 357 00:22:28,119 --> 00:22:31,240 Speaker 7: a high of seventy three Nationally. Showers and what could 358 00:22:31,240 --> 00:22:33,719 Speaker 7: be severe storms expected between the southern Plains and Ohio 359 00:22:33,800 --> 00:22:35,960 Speaker 7: Valley through the rest of the week. The western US 360 00:22:35,960 --> 00:22:38,440 Speaker 7: and rocky scene of cold front that will produce gusty winds, 361 00:22:38,480 --> 00:22:41,960 Speaker 7: mountain snow, and a widespread wintry mix. Meanwhile, above average 362 00:22:41,960 --> 00:22:44,800 Speaker 7: temperatures for forecasts have become widespread across the southern half 363 00:22:44,840 --> 00:22:45,760 Speaker 7: of the US this week. 364 00:22:50,640 --> 00:22:53,879 Speaker 3: Seven hundred w l W. I'm Kevin Gordon. 365 00:22:53,880 --> 00:22:56,399 Speaker 2: This is America struck In Network kind of finishing up 366 00:22:56,440 --> 00:23:01,600 Speaker 2: this story from eighty about ADP job creation report sixty 367 00:23:01,640 --> 00:23:05,840 Speaker 2: three thousand jobs added in February. January was revised down 368 00:23:05,920 --> 00:23:08,959 Speaker 2: from twenty two thousand down to eleven thousand, but the 369 00:23:09,000 --> 00:23:13,240 Speaker 2: sixty three thousand is actually a thirty percent higher than 370 00:23:13,280 --> 00:23:18,640 Speaker 2: what the consensus reports. Or the estimates of what they 371 00:23:18,640 --> 00:23:21,640 Speaker 2: were expecting to see. So that is very good news. 372 00:23:21,640 --> 00:23:24,040 Speaker 2: When they make a prediction and you beat that number 373 00:23:24,040 --> 00:23:28,199 Speaker 2: by thirty percent, that is a good thing. Let's see, 374 00:23:28,880 --> 00:23:33,280 Speaker 2: now we've talked about how the job creation is basically 375 00:23:33,520 --> 00:23:37,080 Speaker 2: in the area of less than fifty employees, that group 376 00:23:37,160 --> 00:23:41,280 Speaker 2: saw job gains of sixty thousand, while big businesses with 377 00:23:41,359 --> 00:23:44,600 Speaker 2: five hundred and more workers added just ten thousand, and 378 00:23:44,640 --> 00:23:47,760 Speaker 2: the medium sized firms reported a drop of seven thousand. 379 00:23:48,200 --> 00:23:51,960 Speaker 2: So the fact that the largest sector of where most 380 00:23:52,000 --> 00:23:56,800 Speaker 2: employees work those that are actually with small businesses and 381 00:23:56,880 --> 00:24:00,320 Speaker 2: are closer to the ground, so to speak, closer to 382 00:24:00,400 --> 00:24:04,480 Speaker 2: the people, and the fact that those businesses recognize that 383 00:24:04,520 --> 00:24:08,360 Speaker 2: their business is expanding or they need have the need 384 00:24:08,440 --> 00:24:11,159 Speaker 2: to hire employees to take care of the business that 385 00:24:11,200 --> 00:24:16,320 Speaker 2: they're seeing is a good sign. The report comes with 386 00:24:16,440 --> 00:24:19,080 Speaker 2: questions over the state of the labor market, as well 387 00:24:19,080 --> 00:24:22,840 Speaker 2: as worries about stubbornly high inflation and what's going on 388 00:24:22,920 --> 00:24:27,720 Speaker 2: in the Middle East. Treasury Secretary Scott Besson said Wednesday 389 00:24:28,080 --> 00:24:32,240 Speaker 2: in a CNBC interview that the ongoing increase in construction 390 00:24:32,440 --> 00:24:36,520 Speaker 2: jobs as a result of the technology driven productivity boom 391 00:24:36,640 --> 00:24:40,200 Speaker 2: that they will have a broader ramifications for the economy. 392 00:24:40,480 --> 00:24:43,719 Speaker 2: He said, I am very, very bullish on the job market, 393 00:24:44,000 --> 00:24:47,040 Speaker 2: and quite honestly, I trust what that man has to say. 394 00:24:47,560 --> 00:24:51,680 Speaker 2: Recent statements from the Federal Reserve officials indicate somewhat higher 395 00:24:51,840 --> 00:24:56,080 Speaker 2: confidence that the job picture is stabilizing. At the same time, 396 00:24:56,200 --> 00:24:59,320 Speaker 2: worries are increasing that a bump in oil prices will 397 00:24:59,400 --> 00:25:02,760 Speaker 2: drive inflation, and hire traders are now indicating the next 398 00:25:02,760 --> 00:25:06,760 Speaker 2: FED interest rate cut won't come until July. Well, let's 399 00:25:06,760 --> 00:25:08,760 Speaker 2: not forget the fact that there's going to be a 400 00:25:08,840 --> 00:25:13,000 Speaker 2: new FED chairman come May. And if that person is 401 00:25:13,040 --> 00:25:17,359 Speaker 2: a supply side economists or bends in that direction, he 402 00:25:17,440 --> 00:25:21,439 Speaker 2: will certainly or she be interested in stimulating the economy. 403 00:25:21,760 --> 00:25:25,280 Speaker 2: And again, the way you stimulate the economy is make 404 00:25:25,400 --> 00:25:29,240 Speaker 2: money available at cheap rates, at cheaper rates, so that 405 00:25:29,359 --> 00:25:32,280 Speaker 2: business can expand. You can go out and buy a 406 00:25:32,320 --> 00:25:34,720 Speaker 2: truck and the interest rate that you're going to be 407 00:25:34,760 --> 00:25:37,760 Speaker 2: paying isn't so much. Fleets can go out and expand 408 00:25:37,800 --> 00:25:43,040 Speaker 2: their businesses, Manufacturing concerns can buy new equipment, expand their territory, 409 00:25:43,160 --> 00:25:47,520 Speaker 2: et cetera. And so every time we hear when we're 410 00:25:47,520 --> 00:25:51,359 Speaker 2: talking about oil prices and whatever they talk about interest rates, 411 00:25:51,440 --> 00:25:55,320 Speaker 2: that interest rates affect how much jobs and how much 412 00:25:56,160 --> 00:26:00,399 Speaker 2: business activity and growth will happen. Why they don't understand 413 00:26:00,440 --> 00:26:03,760 Speaker 2: Why line Jerry Powell at the Federal Reserve doesn't understand 414 00:26:03,760 --> 00:26:07,320 Speaker 2: that or get that. I don't know, but the guy 415 00:26:07,400 --> 00:26:10,879 Speaker 2: has been out of touch. He's in his little ivory tower, 416 00:26:10,960 --> 00:26:16,280 Speaker 2: and I'm not really sure that he understands how businesses operate. 417 00:26:17,560 --> 00:26:20,760 Speaker 2: The Doubt rallied this morning or yesterday morning, I should say, 418 00:26:21,080 --> 00:26:26,920 Speaker 2: after the ISSM Services Survey tops expectations. Stock Market rallied 419 00:26:27,040 --> 00:26:31,560 Speaker 2: Wednesday after the Institute for Supply Management service sector survey 420 00:26:31,920 --> 00:26:36,480 Speaker 2: topped economist expectations. Now again we talk about these economic 421 00:26:36,560 --> 00:26:40,520 Speaker 2: issues because whether it's the service sector or the manufacturing sector, 422 00:26:40,800 --> 00:26:43,280 Speaker 2: if those numbers are up, more things are going to 423 00:26:43,320 --> 00:26:46,360 Speaker 2: be produced. If those things more is going to be produced, 424 00:26:46,560 --> 00:26:49,080 Speaker 2: that means that you and the trucking industry are going 425 00:26:49,080 --> 00:26:52,520 Speaker 2: to have to be providing the raw material and stuff 426 00:26:52,720 --> 00:26:57,600 Speaker 2: to these manufacturing companies. And then once the stuff is manufactured, 427 00:26:57,840 --> 00:27:00,680 Speaker 2: they're not going to be manufacturing something for which there's 428 00:27:00,680 --> 00:27:03,119 Speaker 2: not a demand, which means that those items are then 429 00:27:03,200 --> 00:27:05,679 Speaker 2: going to have to be taken to a location to 430 00:27:05,720 --> 00:27:09,680 Speaker 2: be sold. And so as we see these numbers increasing, 431 00:27:09,960 --> 00:27:13,560 Speaker 2: that means that the trucking industry will be seeing more volume, 432 00:27:13,680 --> 00:27:17,120 Speaker 2: more tonnage, et cetera. And so it's good the fact 433 00:27:17,200 --> 00:27:21,560 Speaker 2: that more people are adp indicating the sixty three thousand 434 00:27:21,600 --> 00:27:24,879 Speaker 2: people of the jobs increased in the private sector. I 435 00:27:24,960 --> 00:27:27,800 Speaker 2: might add that those people are going to be spending money. 436 00:27:27,800 --> 00:27:30,680 Speaker 2: Those people are going to be out buying stuff, which 437 00:27:30,720 --> 00:27:33,120 Speaker 2: means that more things going to have to be transported 438 00:27:33,280 --> 00:27:36,800 Speaker 2: to the individual stores where they're buying this stuff, which 439 00:27:36,840 --> 00:27:39,960 Speaker 2: means that more volume, more tonnage in the trucking industry. 440 00:27:40,280 --> 00:27:43,679 Speaker 2: So good news there as well. 441 00:27:43,800 --> 00:27:44,080 Speaker 3: Rows. 442 00:27:44,960 --> 00:27:48,080 Speaker 2: Actually, the Dow went up over three hundred points at 443 00:27:48,080 --> 00:27:51,560 Speaker 2: the start of the day yesterday. The ISM Services which 444 00:27:51,600 --> 00:27:56,000 Speaker 2: again is Institute for Supply Management Services Purchasing Managers Index 445 00:27:56,119 --> 00:28:00,680 Speaker 2: rows to fifty six point one reading in February, which 446 00:28:00,760 --> 00:28:05,040 Speaker 2: was well ahead of expectations of fifty three point nine. 447 00:28:05,200 --> 00:28:08,320 Speaker 2: It was actually four points higher than that, which is 448 00:28:08,320 --> 00:28:12,560 Speaker 2: again is a very positive sign. An uptick from January 449 00:28:12,760 --> 00:28:15,760 Speaker 2: of fifty three point eight, again a four point three. 450 00:28:15,600 --> 00:28:16,920 Speaker 3: Percent increase there. 451 00:28:17,359 --> 00:28:22,280 Speaker 2: Peter Bukvar, a chief investment officer at one point BFG 452 00:28:22,520 --> 00:28:26,720 Speaker 2: Wealth Partners bottom line, the service sector continues to drive 453 00:28:26,880 --> 00:28:32,120 Speaker 2: US growth and this data points that definitely that data 454 00:28:32,160 --> 00:28:36,840 Speaker 2: point was definitely good. Some inventory building was a factor 455 00:28:36,920 --> 00:28:39,640 Speaker 2: and that came along with the big jump and backlogs. 456 00:28:39,920 --> 00:28:42,840 Speaker 2: Strong end demand will be needed to keep this going. 457 00:28:43,040 --> 00:28:45,160 Speaker 2: And again, if you got more, you know, if your 458 00:28:45,200 --> 00:28:48,800 Speaker 2: inventories are building up, people are being hired, there's more 459 00:28:48,800 --> 00:28:51,960 Speaker 2: people in the job market, wages are up, and it's 460 00:28:52,000 --> 00:28:54,680 Speaker 2: beating the inflation. People are going to have more money 461 00:28:54,880 --> 00:28:57,719 Speaker 2: and a job in order to buy stuff. Those inventories 462 00:28:57,760 --> 00:29:00,080 Speaker 2: will come down, and then of course those inventories is 463 00:29:00,120 --> 00:29:02,120 Speaker 2: going to have to be built up with new material 464 00:29:02,400 --> 00:29:05,400 Speaker 2: to be put out there. Though Wall Street was focused 465 00:29:05,440 --> 00:29:08,880 Speaker 2: on headlines in the Middle East their impact on oil prices, 466 00:29:09,120 --> 00:29:11,680 Speaker 2: the survey showed as a reminder of the US economy 467 00:29:11,720 --> 00:29:19,120 Speaker 2: has been chugging along despite tariff uncertainty. Is it uncertainty 468 00:29:19,600 --> 00:29:22,680 Speaker 2: or is it the fact that the uncertainty that has 469 00:29:22,760 --> 00:29:26,560 Speaker 2: been manufactured by the spoon fed regurgitators in the mainstream 470 00:29:26,600 --> 00:29:31,520 Speaker 2: media wasn't there to begin with. According to Steve Miller, 471 00:29:32,080 --> 00:29:36,440 Speaker 2: the Ism survey chair, said, although there were several comments 472 00:29:36,480 --> 00:29:40,320 Speaker 2: on tariff uncertainty regarding US Supreme Court decision, there was 473 00:29:40,400 --> 00:29:45,240 Speaker 2: no alarm regarding supply chain performance, suggesting that service companies 474 00:29:45,480 --> 00:29:52,640 Speaker 2: have developed capabilities to routinely address shifts in tariff policy. 475 00:29:53,120 --> 00:29:57,800 Speaker 2: So as these companies have adapted the way the American public, 476 00:29:57,880 --> 00:30:02,360 Speaker 2: with their resilience, have adapted and survived the Biden years, 477 00:30:02,560 --> 00:30:06,320 Speaker 2: these companies are surviving this and it was interesting to see. 478 00:30:06,320 --> 00:30:09,040 Speaker 2: And I want to jump to this story real quick. 479 00:30:10,040 --> 00:30:15,200 Speaker 2: The fact that the European Union, when the tariffs were levied, 480 00:30:15,320 --> 00:30:19,280 Speaker 2: and the negotiations between the Trump administration and the European 481 00:30:19,360 --> 00:30:23,160 Speaker 2: Union to level the playing field in order to get 482 00:30:23,200 --> 00:30:27,480 Speaker 2: to fair trade as opposed to free trade. The governing 483 00:30:27,520 --> 00:30:31,120 Speaker 2: bodies of the European Union were in the process of 484 00:30:31,200 --> 00:30:37,240 Speaker 2: passing legislation to conform with the negotiated tariffs that had 485 00:30:37,280 --> 00:30:41,240 Speaker 2: been placed on them by the Trump administration and then 486 00:30:41,520 --> 00:30:44,560 Speaker 2: them lowering their tariffs in order for US to be 487 00:30:44,960 --> 00:30:48,920 Speaker 2: on a fair trade basis. Now, with the Supreme Court's 488 00:30:48,960 --> 00:30:52,160 Speaker 2: stupid decision a few weeks ago, which threw that into 489 00:30:52,280 --> 00:30:56,040 Speaker 2: a tizzy, the European Union is holding firm with that. 490 00:30:56,560 --> 00:30:59,120 Speaker 2: As a matter of fact, will some of the things 491 00:30:59,160 --> 00:31:01,800 Speaker 2: in this this particular story, and I'm going to get 492 00:31:01,840 --> 00:31:05,800 Speaker 2: to it right now. EU keeps US trade deal frozen 493 00:31:06,080 --> 00:31:12,040 Speaker 2: over tariff uncertainty. Now they have stalled the legislation, but 494 00:31:12,120 --> 00:31:14,960 Speaker 2: what they're talking about is that they want to have 495 00:31:15,360 --> 00:31:19,640 Speaker 2: some assurance somehow. I'll just get into the story here. 496 00:31:19,840 --> 00:31:23,800 Speaker 2: European Union trade deal with US will stay frozen after 497 00:31:23,880 --> 00:31:28,600 Speaker 2: European Parliament decided to keep its ratification paused in the 498 00:31:28,600 --> 00:31:31,240 Speaker 2: wake of the court ruling from the Supreme Court top 499 00:31:31,320 --> 00:31:36,000 Speaker 2: EU lawmakers on the parliament Trade Committee made the choice 500 00:31:36,000 --> 00:31:40,000 Speaker 2: on March fourth, saying they wanted more information from Washington 501 00:31:40,240 --> 00:31:44,000 Speaker 2: about how it will preserve a fifteen percent ceiling on 502 00:31:44,160 --> 00:31:47,400 Speaker 2: most products. In other words, what they're saying is that 503 00:31:48,080 --> 00:31:53,560 Speaker 2: they want us to continue to agree to the tariffs 504 00:31:53,960 --> 00:31:58,720 Speaker 2: that were negotiated, which means that somehow they want us 505 00:31:58,800 --> 00:32:03,480 Speaker 2: to keep the fifteen percent tariffs on on their products 506 00:32:03,640 --> 00:32:06,280 Speaker 2: so that they can do the fifteen percent and they 507 00:32:06,320 --> 00:32:10,040 Speaker 2: want to assure that somehow we're going to continue that process. 508 00:32:10,400 --> 00:32:16,959 Speaker 2: So it's you know, it's amazing that the Supreme Court, 509 00:32:17,240 --> 00:32:21,200 Speaker 2: even though that this policy has been available to every 510 00:32:21,280 --> 00:32:25,520 Speaker 2: other president, suddenly because he's in office, they have to 511 00:32:25,600 --> 00:32:29,560 Speaker 2: change this a bit and instead of under the Emergency 512 00:32:29,600 --> 00:32:32,880 Speaker 2: Powers Act, they can do it a different way. Which 513 00:32:33,000 --> 00:32:35,600 Speaker 2: if it can be done a different way, then why 514 00:32:35,800 --> 00:32:38,040 Speaker 2: prevent it in the first place. I don't know, but 515 00:32:38,240 --> 00:32:41,880 Speaker 2: it's interesting that the European Union is still interested in 516 00:32:42,000 --> 00:32:46,080 Speaker 2: keeping this deal alive and going forward and want assurances 517 00:32:46,240 --> 00:32:50,640 Speaker 2: that we're going to reciprocate. I don't know how they 518 00:32:50,680 --> 00:32:53,520 Speaker 2: figure they can pull that off if Supreme Court says 519 00:32:53,640 --> 00:32:56,760 Speaker 2: that can't, well, actually there are other mechanisms that they 520 00:32:56,760 --> 00:32:59,280 Speaker 2: can use in order to do that. So that's the 521 00:32:59,280 --> 00:33:02,600 Speaker 2: avenue they're going to pursue. But again, European Union's fine 522 00:33:02,640 --> 00:33:05,280 Speaker 2: with this, but the Supreme Court isn't. I'm Kevin Gordon, 523 00:33:05,320 --> 00:33:09,520 Speaker 2: americastruck In Network seven hundred WLW. 524 00:33:10,120 --> 00:33:16,280 Speaker 1: News Radio seven hundred WLW and iHeartRadio Station Guarantee Human 525 00:33:16,720 --> 00:33:20,040 Speaker 1: seven hundred WLW, HI Hard Radio. 526 00:33:20,800 --> 00:33:23,800 Speaker 3: Hey, it's Eddie here for PJ. Fitzpatrick. You want to. 527 00:33:27,040 --> 00:33:30,840 Speaker 2: This is America struck In Network seven hundred WLW. IM 528 00:33:30,960 --> 00:33:34,560 Speaker 2: Kevin Gordon. We're talking about we did talk about in 529 00:33:34,560 --> 00:33:37,480 Speaker 2: the previous segment. We're talking about the European Union wanting 530 00:33:37,560 --> 00:33:42,360 Speaker 2: us to abide by the negotiated terms of these tariffs 531 00:33:42,400 --> 00:33:47,920 Speaker 2: that suddenly the Supreme Court said that it was done improperly. 532 00:33:48,040 --> 00:33:51,320 Speaker 2: So again there's a different mechanism, a different tool, or 533 00:33:51,360 --> 00:33:54,320 Speaker 2: a different law, a different reason that they can levy 534 00:33:54,880 --> 00:33:58,600 Speaker 2: these tariffs and they'll go through, which again is kind 535 00:33:58,640 --> 00:34:01,480 Speaker 2: of a misinterpretation of the law. It goes back to 536 00:34:02,280 --> 00:34:05,280 Speaker 2: I think it was in the seventies that a similar 537 00:34:05,400 --> 00:34:08,440 Speaker 2: Emergency Powers Act was done by the President at the 538 00:34:08,520 --> 00:34:11,920 Speaker 2: time and there was a ruling by the Supreme Court. 539 00:34:12,280 --> 00:34:15,800 Speaker 2: So the Supreme Court basically has overturned their own decision. 540 00:34:15,960 --> 00:34:20,840 Speaker 2: So again it baffles me as to why these people 541 00:34:20,880 --> 00:34:24,600 Speaker 2: would do that, and especially with this so called well 542 00:34:24,760 --> 00:34:27,800 Speaker 2: so called I hate that phrase, but because these people 543 00:34:27,800 --> 00:34:31,319 Speaker 2: are supposed to be conservative, that they would actually go 544 00:34:31,520 --> 00:34:34,960 Speaker 2: in a different way that is more liberal than conservative. 545 00:34:35,520 --> 00:34:39,240 Speaker 2: There was another survey that was done and although it 546 00:34:39,280 --> 00:34:44,040 Speaker 2: is similar in nature to the service sector, this is 547 00:34:44,160 --> 00:34:50,680 Speaker 2: the Purchasing Manager's Index in the manufacturing sector. That report 548 00:34:50,760 --> 00:34:53,640 Speaker 2: came out as well. Basically the headline there I just 549 00:34:53,640 --> 00:34:57,040 Speaker 2: want to talk about it briefly. The headline SMP Global 550 00:34:57,160 --> 00:35:05,000 Speaker 2: US Services Purchasing manag Business Activity Index fell in February. However, 551 00:35:05,200 --> 00:35:10,000 Speaker 2: new orders were growing and so there's a in each 552 00:35:10,080 --> 00:35:13,600 Speaker 2: one of these sectors, there is either the activity is 553 00:35:13,640 --> 00:35:17,800 Speaker 2: coming down in certain areas but up in other areas, 554 00:35:18,200 --> 00:35:21,480 Speaker 2: and so it's a review of the entire economy as 555 00:35:21,520 --> 00:35:23,640 Speaker 2: a whole. There are certain areas that are going to 556 00:35:23,719 --> 00:35:25,759 Speaker 2: be down, and there's going to be a certain number 557 00:35:25,800 --> 00:35:28,319 Speaker 2: of the areas that are going to be up, and 558 00:35:28,480 --> 00:35:32,120 Speaker 2: it's a matter of those balancing out so that we 559 00:35:32,280 --> 00:35:36,640 Speaker 2: have a even flow over the entire economy and not 560 00:35:36,800 --> 00:35:40,560 Speaker 2: one sector going way up and one sector coming way down. 561 00:35:40,920 --> 00:35:44,279 Speaker 2: So it's kind of an interesting numbers coming out of there. 562 00:35:44,680 --> 00:35:49,160 Speaker 2: The comments again, new order growth extended into a twenty 563 00:35:49,440 --> 00:35:53,799 Speaker 2: second successive month, and even with this previous index that 564 00:35:53,840 --> 00:35:59,160 Speaker 2: I've talked about, the business activity index fell. It was 565 00:35:59,320 --> 00:36:03,560 Speaker 2: the third seventh month in a row that it indicated 566 00:36:03,680 --> 00:36:06,920 Speaker 2: growth because it was still above the floor of the 567 00:36:07,040 --> 00:36:10,879 Speaker 2: number that would indicate the economy is expanding. So it's 568 00:36:10,920 --> 00:36:17,400 Speaker 2: not a huge increase, it's steady growth, it's not backtracking. 569 00:36:17,760 --> 00:36:21,040 Speaker 2: It's just not as fast as people would like. But 570 00:36:21,160 --> 00:36:24,400 Speaker 2: again it is still on the positive side over a 571 00:36:24,480 --> 00:36:30,239 Speaker 2: thirty seven thirty seven month activity and then as far 572 00:36:30,280 --> 00:36:35,399 Speaker 2: as order growth, that is on a twenty month consecutive 573 00:36:36,280 --> 00:36:42,640 Speaker 2: positive spin. So again, things are not booming yet, but 574 00:36:42,800 --> 00:36:48,080 Speaker 2: we will see that after the war with Iran comes 575 00:36:48,120 --> 00:36:51,239 Speaker 2: to a conclusion and it appears as though that rather 576 00:36:51,320 --> 00:36:54,920 Speaker 2: than weeks, that hopefully this can be wrapped up in days. 577 00:36:55,400 --> 00:36:59,640 Speaker 2: I'm holding hope for that. But you still have the people. There, 578 00:37:00,040 --> 00:37:03,960 Speaker 2: still have the number of people who are hardliners within 579 00:37:04,000 --> 00:37:07,560 Speaker 2: that government that want it to be continued a theocracy. 580 00:37:08,040 --> 00:37:10,240 Speaker 2: But I just don't know that they have the numbers 581 00:37:10,239 --> 00:37:15,280 Speaker 2: to uh uh maintain that power. And it'll be interesting 582 00:37:15,320 --> 00:37:18,000 Speaker 2: to see what happens. There's all kinds of activity, all 583 00:37:18,080 --> 00:37:21,000 Speaker 2: kinds of discussion of who's going to come out on 584 00:37:21,080 --> 00:37:25,040 Speaker 2: top and who's going to be being elected by the people, 585 00:37:25,480 --> 00:37:28,520 Speaker 2: But that remains to be seen. But again, uh, we 586 00:37:28,600 --> 00:37:31,560 Speaker 2: are folks. We are living in some historic times and 587 00:37:31,600 --> 00:37:36,319 Speaker 2: some things that had that dramatic changes from what has 588 00:37:36,400 --> 00:37:40,160 Speaker 2: been the norm. And the norm has been the possibility 589 00:37:40,200 --> 00:37:43,080 Speaker 2: of always having, you know, waiting for that other shoe 590 00:37:43,160 --> 00:37:46,400 Speaker 2: to drop, so to speak. Of if things are going well, 591 00:37:47,320 --> 00:37:51,920 Speaker 2: what can be disrupted by some terrorist organization in the 592 00:37:51,920 --> 00:37:54,880 Speaker 2: Middle East? Uh, do we have to worry about this 593 00:37:55,000 --> 00:37:59,399 Speaker 2: Terrorism Act here, this Terrorism Act here? Those if those 594 00:37:59,440 --> 00:38:04,160 Speaker 2: get a limited and are put to bed, then the economy, 595 00:38:04,239 --> 00:38:07,480 Speaker 2: the world economy can be at ease. And one of 596 00:38:07,560 --> 00:38:10,040 Speaker 2: the things that's been interesting. I should have mentioned this 597 00:38:10,160 --> 00:38:12,920 Speaker 2: during the other segment. And by the way, if you 598 00:38:12,960 --> 00:38:15,200 Speaker 2: miss any of our segments, miss any of our shows, 599 00:38:15,360 --> 00:38:17,759 Speaker 2: hit up that iHeartRadio app brought to you by our 600 00:38:17,760 --> 00:38:19,080 Speaker 2: friends at Rust Truck Centers. 601 00:38:19,680 --> 00:38:20,800 Speaker 3: But even China. 602 00:38:20,920 --> 00:38:23,960 Speaker 2: You noticed that China has been a big ally of 603 00:38:24,000 --> 00:38:27,640 Speaker 2: Iran and so his Russia. They have been very quiet 604 00:38:27,680 --> 00:38:30,680 Speaker 2: through this because again they are starting to get a 605 00:38:30,719 --> 00:38:35,200 Speaker 2: little irritated because if that black, if the Red Sea 606 00:38:35,360 --> 00:38:38,520 Speaker 2: is tied up the Straight of Hormuz, the oil that 607 00:38:38,640 --> 00:38:46,280 Speaker 2: flows to China from these other oil producing companies countries 608 00:38:46,400 --> 00:38:49,279 Speaker 2: rather aren't going to go there, and that's going to 609 00:38:49,400 --> 00:38:53,759 Speaker 2: slow their business activity. And so with them not being 610 00:38:53,800 --> 00:38:57,280 Speaker 2: happy with this, this could again change the dynamic because 611 00:38:57,560 --> 00:39:00,680 Speaker 2: Iran was getting very cozy with China. Now they're starting 612 00:39:00,680 --> 00:39:03,000 Speaker 2: to piss off China as well. So it's going to 613 00:39:03,080 --> 00:39:05,880 Speaker 2: be interesting again to see how this shakes out. I 614 00:39:05,920 --> 00:39:10,839 Speaker 2: saw these two headlines, which is interesting because we keep 615 00:39:10,880 --> 00:39:13,360 Speaker 2: hearing about the retail sector, that it's not as strong 616 00:39:13,400 --> 00:39:15,440 Speaker 2: as it should be, and that we need to you 617 00:39:15,480 --> 00:39:17,920 Speaker 2: know that the concerns and all this sort of stuff. 618 00:39:18,320 --> 00:39:20,600 Speaker 2: This was a headline back in the middle of February 619 00:39:20,640 --> 00:39:22,160 Speaker 2: that I never had a chance to get to, but 620 00:39:22,239 --> 00:39:26,400 Speaker 2: it was kind of in line with another retail organization, 621 00:39:27,440 --> 00:39:33,480 Speaker 2: Walmart delivers impressive sales but offers a muted outlook. Again, 622 00:39:34,360 --> 00:39:39,719 Speaker 2: Walmart delivering another standout quarter. Now, if tariffs are having 623 00:39:39,800 --> 00:39:43,480 Speaker 2: an effect, and if they're having to eat some of 624 00:39:43,520 --> 00:39:46,480 Speaker 2: these costs because we are not seeing I mean, if 625 00:39:46,520 --> 00:39:49,759 Speaker 2: you've got a fifteen percent tariff and inflation is only 626 00:39:49,800 --> 00:39:53,120 Speaker 2: going up two percent, somebody is eating that tariff along 627 00:39:53,160 --> 00:39:57,440 Speaker 2: the way. Walmart has been talking about the amount of 628 00:39:57,480 --> 00:40:00,560 Speaker 2: them holding down these prices. Well, if if they're having 629 00:40:00,600 --> 00:40:05,560 Speaker 2: a good quarter and they had delivered another standout quarter, 630 00:40:05,920 --> 00:40:09,640 Speaker 2: then they must have enough cushion there as far as 631 00:40:09,680 --> 00:40:12,680 Speaker 2: what they're charging to absorb some of these terroriffs, and 632 00:40:12,840 --> 00:40:15,640 Speaker 2: maybe they should absorb it a little bit more on 633 00:40:15,719 --> 00:40:18,839 Speaker 2: behalf of the American public. But again, promise the lower 634 00:40:18,880 --> 00:40:23,319 Speaker 2: prices and speedy delivers drew a broader spectrum of Americans 635 00:40:23,520 --> 00:40:26,759 Speaker 2: during the critical holiday season. So they had a very 636 00:40:26,800 --> 00:40:30,279 Speaker 2: good quarter and they're kind of a muted outlook in 637 00:40:30,360 --> 00:40:33,400 Speaker 2: terms of what they expect going forward, but based on 638 00:40:33,680 --> 00:40:37,239 Speaker 2: the resilience of the American public, get past this war 639 00:40:37,320 --> 00:40:41,040 Speaker 2: with Iran, get the inflation numbered down a little bit, 640 00:40:41,520 --> 00:40:45,080 Speaker 2: get those interest rates down, and of course, once the 641 00:40:45,120 --> 00:40:48,879 Speaker 2: people start getting their tax refunds as a result of 642 00:40:48,920 --> 00:40:52,239 Speaker 2: the One Big Beautiful Bill, they will have more money 643 00:40:52,280 --> 00:40:55,520 Speaker 2: in their pockets to spend money. So them having a 644 00:40:57,160 --> 00:41:01,600 Speaker 2: muted outlook I think is maybe a little bit unjustified 645 00:41:01,840 --> 00:41:05,080 Speaker 2: or maybe a little short sided on their part. Target 646 00:41:05,160 --> 00:41:08,799 Speaker 2: raises outlook now. That's interesting because we just hear that 647 00:41:08,840 --> 00:41:12,880 Speaker 2: Walmart is not is thinking that their results aren't going 648 00:41:12,920 --> 00:41:14,840 Speaker 2: to be as good as they were in the fourth quarter. 649 00:41:15,160 --> 00:41:18,920 Speaker 2: But Target now is raising their outlook. And quite honestly, 650 00:41:18,960 --> 00:41:21,399 Speaker 2: when you look at the two companies, which one has 651 00:41:21,440 --> 00:41:24,160 Speaker 2: been a little bit more adept at moving and dealing 652 00:41:24,200 --> 00:41:28,279 Speaker 2: with a different changes in the economy and catering more 653 00:41:28,320 --> 00:41:31,799 Speaker 2: to a customer base and being more in tune with 654 00:41:31,880 --> 00:41:35,839 Speaker 2: their customers, Walmart generally appears to be a little bit 655 00:41:35,880 --> 00:41:39,680 Speaker 2: more adept at that. And if Target is now saying 656 00:41:39,920 --> 00:41:43,840 Speaker 2: that their outlook is looking good, that appears as though that, 657 00:41:44,160 --> 00:41:44,520 Speaker 2: you know, we. 658 00:41:44,520 --> 00:41:46,600 Speaker 3: Got basically a tail of two cities here. 659 00:41:47,200 --> 00:41:48,960 Speaker 2: You got one that's saying that, well, we don't think 660 00:41:49,239 --> 00:41:52,400 Speaker 2: things are going to be as good as expected. But again, 661 00:41:52,719 --> 00:41:56,600 Speaker 2: that could be them downplaying those expectations so that when 662 00:41:56,600 --> 00:42:00,960 Speaker 2: they come back with a big number and increase sales 663 00:42:01,160 --> 00:42:06,520 Speaker 2: and a more profitability, then that will draw people to 664 00:42:06,600 --> 00:42:09,680 Speaker 2: their stock. So, you know, as we've seen and as 665 00:42:09,680 --> 00:42:14,360 Speaker 2: we've talked about, with some of these major layoff notices 666 00:42:14,680 --> 00:42:18,920 Speaker 2: that haven't shown up yet because they're not happening, they 667 00:42:18,960 --> 00:42:21,799 Speaker 2: make these announcements so that they get a boost in 668 00:42:21,840 --> 00:42:26,000 Speaker 2: their stock prices because the stockholders are saying, Wow, these 669 00:42:26,000 --> 00:42:29,080 Speaker 2: guys are being good stewards of our money. And yet 670 00:42:29,239 --> 00:42:31,960 Speaker 2: they either shift these people to a different department, but 671 00:42:32,080 --> 00:42:36,080 Speaker 2: the massive layoffs that they announce never materialize. This could 672 00:42:36,160 --> 00:42:40,359 Speaker 2: be a ruse on the part of Walmart to say that, well, 673 00:42:40,360 --> 00:42:43,800 Speaker 2: we don't expect the first quarter to be very good, 674 00:42:44,200 --> 00:42:47,200 Speaker 2: when in fact they're anticipating it to be good. Because 675 00:42:47,200 --> 00:42:50,440 Speaker 2: if Target is seeing the outlook and improving their outlook, 676 00:42:50,760 --> 00:42:54,320 Speaker 2: you would think that Walmart, in a similar vein would 677 00:42:54,320 --> 00:42:57,719 Speaker 2: be thinking that, so hopefully they are under well, I'm 678 00:42:57,719 --> 00:43:01,160 Speaker 2: guessing that they're underplaying what they're perfer performance is so 679 00:43:01,200 --> 00:43:03,839 Speaker 2: that when they do have a good performance, they can 680 00:43:03,840 --> 00:43:07,839 Speaker 2: look like heroes, which kind of an interesting tactic. Now, folks, 681 00:43:07,840 --> 00:43:10,400 Speaker 2: we're up against clock here. Stay tuned for ATI Radio 682 00:43:10,480 --> 00:43:13,120 Speaker 2: Top of the Hour. I'm Kevin Gordon. America has struck 683 00:43:13,160 --> 00:43:16,280 Speaker 2: a network seven hundred WLW