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Speaker 1: This is America's Trucking Network with Kevin Gordon one of

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Speaker 1: them boards.

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Speaker 2: Thanks for tuning in on this Friday morning. Well, we've

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Speaker 2: got tensions in the Middle East. Things are ramping up

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Speaker 2: as far as Iran is concerned. We'll talk about that

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Speaker 2: the effect on gas prices and oil prices coming up.

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Speaker 2: But we've got some strong economic news on the home

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Speaker 2: front because of our building and stronger economy, despite despite

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Speaker 2: the spoon fed rec urgitators in the mainstream media trying

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Speaker 2: to talk it down. Initial jobless claims came in yesterday.

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Speaker 2: Looking at some of the headlines, Actually the headlines were

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Speaker 2: pretty decent. It's almost like the news media is starting

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Speaker 2: to just say, you know what, we're getting pounded because

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Speaker 2: our headlines are not what the story is and people

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Speaker 2: are kind of calling us out on it. Hopefully this

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Speaker 2: little show is doing a little bit for you know,

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Speaker 2: our part on that, because I bring it up every

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Speaker 2: chance I get, and talking to some of the other

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Speaker 2: talk show hosts in the company, and you know, just

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Speaker 2: pointing out the different things that I'm seeing in terms

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Speaker 2: of how stories are being displayed versus and what is

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Speaker 2: in those stories versus what is in the actual headline.

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Speaker 2: But looking at the headlines investing dot COM's initial job

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Speaker 2: as claims fall, beating expectations and bolstering the US dollar

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Speaker 2: seeking Alpha weekly job as claims fall the most since November.

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Speaker 2: Good headline, trading view US initial job is claims fall sharply,

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Speaker 2: and breaking the news. US initial jobs claims down by

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Speaker 2: twenty three thousand to two hundred and six thousand.

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Speaker 1: Now the story from.

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Speaker 2: Reuter's actually, you know, writers kind of surprising me over

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Speaker 2: the last few weeks. I mean, it seems like their

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Speaker 2: headlines are starting to match their stories a little bit more.

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Speaker 1: But then again, once in a while we have to

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Speaker 1: catch them on that.

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Speaker 2: In this headline, pretty good, US weekly job has claims

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Speaker 2: fall more than expected amid labor market stability.

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Speaker 1: Now, let's go back to Liberation.

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Speaker 2: Day April twenty twenty five, when Trump announced the reciprocal

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Speaker 2: tariffs on the countries that have been taking advantage of US.

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Speaker 1: For a number of years.

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Speaker 2: Well, all of a sudden, we started hearing that, well,

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Speaker 2: unemployment was going to go up, we were going to

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Speaker 2: go into recession, inflation was going to be out of control,

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Speaker 2: and all this, none of which happened. And now all

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Speaker 2: of a sudden and during the year, we started hearing

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Speaker 2: comments from lion Jerry Powell at the FED that, well,

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Speaker 2: we're concerned about the job market. The job market appears

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Speaker 2: to be weak. We don't know what's you know, we

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Speaker 2: think that might not be as strong as we would

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Speaker 2: like it to be, and so we need to hold

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Speaker 2: off in terms of interest rate cuts, et cetera. So

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Speaker 2: again with this indicating us that expected amid labor market stability.

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Speaker 1: Even the Federal Reserve.

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Speaker 2: In their minutes that were released the other day, talked

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Speaker 2: about that, and I believe that's in this particularly this

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Speaker 2: is at the bottom of the story here, So we'll

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Speaker 2: talk about that coming up. Number of Americans filing new

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Speaker 2: applications for unemployment benefits fell more than more than expected

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Speaker 2: last week, consistent with a stabilizing labor market. Consistent with

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Speaker 2: a stabilizing labor market. Kind of getting away from this, oh,

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Speaker 2: we're not so sure a soft job market. We're not

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Speaker 2: sure about the stability of the job market. With a

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Speaker 2: stabilizing labor market, initial claims for state unemployment benefits dropped

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Speaker 2: twenty three thousand to a seasonally adjusted two hundred and

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Speaker 2: six thousand for the week ended February the fourteenth, the

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Speaker 2: Labor Department set on Thursday. Economists polled by Reuters had

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Speaker 2: forecast two hundred and twenty five thousand claims in the

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Speaker 2: same week. They were off by only They were only

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Speaker 2: off by eight and a half percent, which is good

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Speaker 2: because it's eight and a half percent to the good side.

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Speaker 1: Claims in the last week.

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Speaker 2: Last week market dropped a significant decline and claims since

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Speaker 2: the jumped to two hundred and thirty two thousand at

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Speaker 2: the end of January, so that has come down from

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Speaker 2: two hundred and thirty two thousand down to two hundred

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Speaker 2: and six thousand. Yes, so come down by roughly about

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Speaker 2: ten percent less than the prior week, which is very

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Speaker 2: good sign. Minutes from the Federal Reserves January twenty seven

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Speaker 2: to twenty eighth policy meeting published on Wednesday showed quote,

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Speaker 2: the vast majority of participants judged that the labor market

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Speaker 2: conditions have been showing some signs of stabilization. Still concerns

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Speaker 2: over downs high risk of the labor market remain. Of course,

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Speaker 2: they're going to because lion Jerry Powell isn't going to

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Speaker 2: admit when things are going well, He's going to try

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Speaker 2: to control the Federal Reserve and kind of downplay the

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Speaker 2: economy more than what it should. Not very consistent in

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Speaker 2: terms of what the numbers are saying.

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Speaker 1: He's always got to do a little bit of a

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Speaker 1: jab here and there. So again, I'm not jent lyne.

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Speaker 2: He can't leave the federal Reserve soon enough, and hopefully

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Speaker 2: May will come.

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Speaker 1: Well May, it's just around the corner.

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Speaker 2: And it's also none of some policymakers quote pointed to

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Speaker 2: a possibility that further fall in labor demand could push

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Speaker 2: the unemployment rate sharply higher in low hiring environment, or

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Speaker 2: that the concentration of jobs in few less cyclical sensitive

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Speaker 2: sectors was potentially signaling heightened vulnerability in the overall labor market.

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Speaker 2: Now that sentence, I had to read that thing four

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Speaker 2: or five six times to try to wrap my head

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Speaker 2: around it. Okay, if you have a stabilizing job market,

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Speaker 2: why would you unless you're a naysayer and somebody that

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Speaker 2: isn't reading the tea leaves properly, why would you say,

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Speaker 2: pointing to the possibility of further fault in labor demand

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Speaker 2: could push unemployment higher. Well, of course, if labor demand

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Speaker 2: comes off, people will be unemployed. But if the economy

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Speaker 2: continues to be strong, if lower rates are lower, interest

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Speaker 2: rates are done, and people can go out and invest,

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Speaker 2: buy new equipment, expand their business, hire new employees, the

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Speaker 2: economy will be strong. But holding that back because of

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Speaker 2: interest rates. Again, let's not forget what the Federal Reserve

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Speaker 2: did back in twenty twenty two when inflation was out

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Speaker 2: of control. In June of twenty twenty two, inflation got

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Speaker 2: up to nine point one percent. In February of twenty

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Speaker 2: twenty two, Russia invaded Ukraine. We saw gas spike up

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Speaker 2: to the point where in June of that year, let's

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Speaker 2: not forget June of twenty twenty two, when gas prices

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Speaker 2: nationwide average average.

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Speaker 1: Across the board was over five dollars a gallon.

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Speaker 2: And so when you look at the scenario at that point,

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Speaker 2: and then the Federal Reserve decided we need to slow

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Speaker 2: the economy down by raising interest rates.

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Speaker 1: They wanted to slow the economy down.

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Speaker 2: They wanted companies to lay people off, they wanted people

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Speaker 2: to stop spending, so they raised interest rates. Now, if

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Speaker 2: you're trying to stimulate the economy and you want people

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Speaker 2: to go out and spend money, you lower those interest rates,

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Speaker 2: because then businesses will hire more employees. I don't get

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Speaker 2: these comments in here where they're saying that pointed to

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Speaker 2: it possibly a further fall in labor demand could push unemployment.

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Speaker 1: Well, of course, if labor.

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Speaker 2: Demand goes up, unemployment will go up. And the way

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Speaker 2: to stop that is lower interest rates in stimulate the economy. Again,

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Speaker 2: you can't have it both ways. If you're raising interest

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Speaker 2: rates to slow the economy down, then you If you're

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Speaker 2: raising interest rate to slow the economy down, then you

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Speaker 2: lower interest rates to speed the economy up. You just

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Speaker 2: can't say that, well, we're going to keep things the

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Speaker 2: way they are because we hope the economy goes up.

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Speaker 1: It's just nuts. And then this idea that.

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Speaker 2: If the concentration of jobs in a few less cyclical

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Speaker 2: sensitive areas will show a vulnerability in the labor market.

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Speaker 1: I don't understand that comment.

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Speaker 2: Because if you're looking at businesses, if you're looking at

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Speaker 2: well whatever cyclical, if you're looking at the retail business

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Speaker 2: where they hire people during going into Christmas season or

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Speaker 2: to holiday seasons where they increase their employees, or you

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Speaker 2: have a garden store, something that's cyclical in terms of

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Speaker 2: selling plants and having seed and grass and all this

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Speaker 2: sort of stuff, the flowers and all this sort of

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Speaker 2: thing that you see at these home and garden centers

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Speaker 2: or these different nurseries. In the winter months, they are cyclical.

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Speaker 2: They're not hiring as many employees. They lay their people off,

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Speaker 2: and then during the spring they hire the people back.

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Speaker 2: In the farm community when it's the planning season, people

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Speaker 2: are very busy, et cetera. And also in the harvest season,

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Speaker 2: but throughout the period of time between planting and harvesting,

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Speaker 2: you're not hiring a bunch of employees. So those are

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Speaker 2: seasonal jobs, and then that will fluctuate the unemployment rate. Well,

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Speaker 2: if you are having job increases and less sensitive and

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Speaker 2: less seasonal positions, then those are going to be more

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Speaker 2: permanent jobs and the less likelihood of those people being

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Speaker 2: laid off. And if they're not being laid off, then

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Speaker 2: they're not going to increase the unemployment number. So I

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Speaker 2: don't understand this comment in there, And like I said,

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Speaker 2: I had to read that three or four times just

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Speaker 2: to wrap my head around it, because it just quite

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Speaker 2: honestly doesn't make sense, and it still doesn't make any sense.

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Speaker 2: Coming up will cont continue this conversation on the unemployment rate.

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Speaker 2: I'm Kevin Gordon, Americastructing Network seven hundred WLW. I'm Kevin Gordon,

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Speaker 2: Americastructing Network seven one hundred WLW ken continuing this story

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Speaker 2: or continuing the conversation about US jobless claims Initial job

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Speaker 2: as claims for the week again the claims covered the

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Speaker 2: week during which the government surveyed employment. Well, we talked about,

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Speaker 2: you know, the actual numbers, that the numbers came in

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Speaker 2: at two hundred and six thousand, down from two hundred

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Speaker 2: and thirty two thousand the previous week. So again two

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Speaker 2: hundred and six from two hundred and thirty two. They're

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Speaker 2: down by what is that twenty six thousand from the

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Speaker 2: previous week, plus the guesstimate from the so called experts

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Speaker 2: they thought unemployment was going to come in around two

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Speaker 2: hundred and twenty five thousand, So at two hundred and

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Speaker 2: six thousand, they were off by eight and a half percent.

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Speaker 2: So again good news there. Claims data covered the week

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Speaker 2: during which the government surveyed employers for the non farm

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Speaker 2: payroll portion of February's employment report. Job growth accelerated in January,

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Speaker 2: though nearly all the employment gains came from the healthcare

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Speaker 2: and social assistance secret section sector, and we talked about

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Speaker 2: that when the job's numbers came out last week, and

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Speaker 2: we talked about that a little bit of a high

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Speaker 2: concentration in those areas. I'd like to see more concentration

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Speaker 2: in increases in manufacturing, transportation, and some of the other

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Speaker 2: areas that are more of a boost to the economy

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Speaker 2: rather than healthcare and social assistance, because those aren't really well,

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Speaker 2: they're not producing a product. Let's just face it, they're

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Speaker 2: not manufacturing anything. Yes, they're providing a service, they're providing

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Speaker 2: healthcare and whatever. But quite honestly, the friends that I

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Speaker 2: have and the people that I'm talking about that go

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Speaker 2: on to see these healthcare people, we keep seeing that

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Speaker 2: they're hiring more and more people, but trying to get

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Speaker 2: an appointment to get in.

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Speaker 1: To see some of these doctors.

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Speaker 2: I was talking to somebody the other day, actually, I

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Speaker 2: was shopping around for a dermatologist, and the one person

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Speaker 2: that I talked to, or the one hospital that I

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Speaker 2: talked to, we got, you know, several that we can

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Speaker 2: use around here. One said, well, we're we're scheduling people

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Speaker 2: out to November.

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Speaker 1: November. I mean, what if somebody has.

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Speaker 2: An emergency type of thing or something that can't wait.

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Speaker 2: I mean, what if somebody's you know, got some sort

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Speaker 2: of a you know, a cancerous thing on their face

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Speaker 2: or leg or whatever that you got to wait eight

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Speaker 2: months to go see a doctor. But I think that

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Speaker 2: particular group because they have been having problems, that particular

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Speaker 2: hospital has been having problems keeping people in the dermatology

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Speaker 2: department because a lot of the ones that have been

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Speaker 2: there have moved on to at practices that are just

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Speaker 2: strictly dermatology and not part of the hospital network. Because

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Speaker 2: then I checked with a couple of other doctors, Heck,

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Speaker 2: I could have gotten in to see a doctor, or

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Speaker 2: I can get in to see a doctor almost the

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Speaker 2: next day. So again, depending upon where you go, and

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Speaker 2: don't just think and probably this is kind of a

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Speaker 2: rule of thumb here. If you are told by your

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Speaker 2: healthcare provider or if you're told by the whoever you

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Speaker 2: usually use, that you can't see an appointment for they

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Speaker 2: have to put these appointments eight months out.

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Speaker 1: Again, it's almost time.

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Speaker 2: To start shopping around and see what else is available

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Speaker 2: out there, because if they're hiring more of these healthcare people,

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Speaker 2: then there should be more appointments available and not this

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Speaker 2: business of having to string out these appointments over an

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Speaker 2: extended period of time. You should be able to get

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Speaker 2: in within a reasonable period of time two to three weeks.

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Speaker 2: In my opinion, tops polishmakers and economists say immigration policies

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Speaker 2: are constraining job growth, lingering uncertainties from import terraff forming

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Speaker 2: a drag on hiring, while artificial intelligence was also adding

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Speaker 2: another layer of caution. According to the commun communists and

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Speaker 2: the economists, same old, same old stuff that they keep

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Speaker 2: putting in there all the way since Liberation Day back

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Speaker 2: on April the second. Talking about all this cautionary thing,

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Speaker 2: it's going to be immigration policies, it's going to be

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Speaker 2: constraining job growth. People are going to be laid off,

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Speaker 2: there's going to be more unemployment. Lingering certainly about import tariffs. Well,

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Speaker 2: you know, after almost a year of that, you would

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Speaker 2: think they'd get the clue that, hey, what we predicted isn't.

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Speaker 1: Going to happen.

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Speaker 2: But then again, you know, being liberal means never having

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Speaker 2: to say you're sorry. The number of people receiving unemployment

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Speaker 2: benefits for the initial week aid of aid a proxy

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Speaker 2: for hiring increase seventeen thousand to a seasonally adjusted one

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Speaker 2: point eighty six y nine million during the week ending

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Speaker 2: February the seventh. The Claims Report showed so called Now

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Speaker 2: I love this. Okay, whenever you see somebody on television,

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Speaker 2: you see some of the talk show hosts, you see

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Speaker 2: some of the more liberal commentators on these programs, and

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Speaker 2: even the Democrats now are starting to use these phrases.

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Speaker 2: And I saw a montage of things of where they

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Speaker 2: started using this, And God bless Rush Limbaugh because back

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Speaker 2: in the day he used to do that. He said,

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Speaker 2: he would say that, you know, there's certain talking points

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Speaker 2: that apparently the Democrats are using, and then he'd go

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Speaker 2: through a montage of you know, Nancy Pelosi, Chuck Schumer,

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Speaker 2: or whoever was in the House and Senate saying the

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Speaker 2: same phrase over and over and over and over again.

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Speaker 2: And it's just absolutely ridiculous. But the phrase I'm seeing

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Speaker 2: more and more now, even the Democrats talking about Department

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Speaker 2: of Homeland Security. Okay, Department of Homeland Security is the

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Speaker 2: Department of Homeland Security.

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Speaker 1: I start seeing all.

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Speaker 2: These people talking about the so called Department of Homeland Security.

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Speaker 2: What is it the Well, then you must be a

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Speaker 2: so called senator or a so called congressman, because in

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Speaker 2: here it says the so called continuing claims. Well, continuing

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Speaker 2: claims is a phrase that is used as part of

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Speaker 2: the unemployment rate, of the unemployment numbers and the initial

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Speaker 2: jobless claims. They track that on a weekly basis in

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Speaker 2: terms of how many people are filing for unemployment past

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Speaker 2: the first week, which means that maybe they found a job,

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Speaker 2: not finding a job, they're you know, they're off work

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Speaker 2: for an extended period of time. So the continuing claims

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Speaker 2: come in and that is a number certain. So it's

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Speaker 2: not so called. It is what it is.

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Speaker 1: You know.

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Speaker 2: It's like again, are they so called senators, so called congressman,

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Speaker 2: so called government.

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Speaker 1: It's just.

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Speaker 2: Some of these writers. It's just unbelievable. They may be

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Speaker 2: oration of unemployment is nearly four year high. Well maybe

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Speaker 2: we should call so called four year high. The lack

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Speaker 2: of hiring has significantly impacted recent college graduates who because

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Speaker 2: of no or limited work history, cannot find and cannot

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Speaker 2: file for unemployment benefits and are not captured in the

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Speaker 2: claims data. Well, that would turn into people in terms

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Speaker 2: of what they talk in terms of the underemployed people,

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Speaker 2: and that's a number that should be tracked and tracked

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Speaker 2: along with when they come out with what the unemployment

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Speaker 2: rate is. There's always that factor of people who have

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Speaker 2: stopped or looking for work, or are standing on the

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Speaker 2: sidelines and not back into the job market yet, or

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Speaker 2: their benefits have run out. So rather than throwing that

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Speaker 2: phrase in here, maybe they should wait and throw that

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Speaker 2: in there when they're talking about the and also when

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Speaker 2: they're talking about the labor participation rate, that would move that.

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Speaker 1: Now, the moving.

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Speaker 2: Average for unemployment rate the initial job as claims is

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Speaker 2: moving is currently two hundred nineteen thousand. And let's not

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Speaker 2: forget the fact that over the last several years, the

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Speaker 2: sweet spot in terms of initial jobless claims on a

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Speaker 2: weekly basis has been somewhere between two hundred and ten

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Speaker 2: thousand and two hundred and fifty thousand. So with this

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Speaker 2: moving average over a four week period of time being

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Speaker 2: a two hundred nineteen thousand, talks in terms of a

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Speaker 2: stable labor market, a no no fire policy, what we've

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Speaker 2: been experiencing and none of this continuing major increase in unemployment.

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Speaker 2: Now I saw this story and they it's now if

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Speaker 2: you don't, I don't know how many of these articles

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Speaker 2: you actually read, or if you're looking at the headlines

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Speaker 2: or get your news from great sources like america'struck A network.

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Speaker 2: I'm seeing more and more of these explanations, either at

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Speaker 2: the beginning of the story or towards the end of

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Speaker 2: the story where they talk about AI has assisted in

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Speaker 2: writing this story.

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Speaker 1: Of course.

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Speaker 2: This one particularly says this article was generated with the

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Speaker 2: support of AI and reviewed by an editor for more

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Speaker 2: information CR I guess whatever their policy is terms and conditions.

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Speaker 2: I think about that because it says TNC. So it's

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Speaker 2: kind of interesting how the generic phrases kind of keep

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Speaker 2: popping up.

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Speaker 1: I'll give you a couple of examples.

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Speaker 2: Here they're talking about the initial job as claims fall,

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Speaker 2: beating expectations, and bolstering the US dollar. They talk in

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Speaker 2: terms about the rate that we just talked about two

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Speaker 2: hundred and six thousand versus the two hundred and twenty

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Speaker 2: five thousand that they expected. This particular story said the

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Speaker 2: experts were calling for two hundred and twenty three. Not

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Speaker 2: a big difference. But then again, when you look at

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Speaker 2: the amount of people that are filing for unemployment this

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Speaker 2: week versus the previous week that's down about ten percent

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Speaker 2: in the case, lowering expectation number of jobless claims likely

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Speaker 2: to boost the US dollars, which it did. While this

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Speaker 2: data is encouraging, it is important to note that job

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Speaker 2: thless claims can be volatile and are influenced by a

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Speaker 2: variety of factors.

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Speaker 1: Now, this is where it.

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Speaker 2: Gets into this AI thing, where if you've seen these

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Speaker 2: things as far as AI, it goes into these explanations

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Speaker 2: as to what it is rather than putting the thing

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Speaker 2: out there, and you can tell by this paragraph. While

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Speaker 2: the data is encouraging, it's important to note that jobless

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Speaker 2: claims can be volatile and are influenced by a variety

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Speaker 2: of factors, including economic policy global economic conditions. Therefore, while

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Speaker 2: the week's data is positive, it does not guarantee a

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Speaker 2: continued downward trend in jobless claims. In conclusion, the latest

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Speaker 2: initial jobless claims data is a positive sign for the

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Speaker 2: US economy and the US dollar, but it remains crucial

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Speaker 2: to monitor these figures closely in the coming weeks to

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Speaker 2: understand the broader economic trends.

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Speaker 1: Those are two paragraphs that are totally.

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Speaker 2: Useless and shouldn't even be in this if it was

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Speaker 2: written by a human being. This is something that is

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Speaker 2: we're seeing as far as AI. These pan generic type

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Speaker 2: of thing put in there, and just basically it waste

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Speaker 2: time to read it. But I thought you'd be k

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Speaker 2: I hope you got to kick out of it, because

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Speaker 2: when I read that, I just kind of laughed a

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Speaker 2: little bit, because it really is a useless couple of paragraphs.

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Speaker 2: I'm Kevin Gordon, America's truck a Network. Seven hundred WLW

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Speaker 2: England seven hundred w l w IM Kevin Gordon is

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Speaker 2: America's truck a Network. We did get some goodie, some

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Speaker 2: additional good news in addition to the initial job as

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Speaker 2: claims that we talked about and some of the stuff

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Speaker 2: going on in the economy. Leading economic indicators. Now this

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Speaker 2: is kind of interesting because even though they I see

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Speaker 2: these headlines and it says, oh, leading economic indicators fall

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Speaker 2: for the fifth straight month. Okay, Now that would be

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Speaker 2: significant if it weren't for the fact that the falling

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Speaker 2: is less than a percentage point over that five week

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Speaker 2: or five month period of time, Okay, which is of

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Speaker 2: course they don't point that out. But again, talking about

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Speaker 2: leading economic indicators for you so that you know what

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Speaker 2: we're talking about here. And these are important because leading

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Speaker 2: economic indicators are statistics that change before the overall economy changes.

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Speaker 2: Acting is a predictive signals for future economic activity.

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Speaker 1: Generally, these leading.

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Speaker 2: Economic indicators are an indication of what's going to happen

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Speaker 2: seven months ahead of the business cycle. So that's why

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Speaker 2: it's important when you hear these things, you kind of

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Speaker 2: get an indication. As we talked about yesterday when we

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Speaker 2: talked about how building permits and housing starts, how that

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Speaker 2: is an indication of what you're going to see in

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Speaker 2: terms of the completion of these homes, the construction, all

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Speaker 2: the materials that go into that over that seven month

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Speaker 2: period of time six months however long it takes to

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Speaker 2: construct that home, and then of course all of the

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Speaker 2: stuff that goes into there and the finishes as far

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Speaker 2: as appliance is, carpeting, paint, light fixtures, and all that

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Speaker 2: towards the end before people move in, and of course

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Speaker 2: the people are moving into a new home, generally a

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Speaker 2: lot of times they'll buy new furniture. So all those

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Speaker 2: components when you see building permits, housing starts, you see

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Speaker 2: that you know that over a seven month period of time,

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Speaker 2: all these other factors are going to come into play,

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Speaker 2: and that's why these leading economic indicators are important. But

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Speaker 2: one of the problems with this is is that part

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Speaker 2: of the components there's different. There's about ten ten components

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Speaker 2: of these leading economic indicators, and one of the big

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Speaker 2: factors in there is consumer confidence.

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Speaker 1: And again when they.

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Speaker 2: Talk about here and they describe it, consumer confidence and

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Speaker 2: expectations predicts future consumer spending, which drives a significant portion

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Speaker 2: of GDP. So if you have spoon fed regards tators

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Speaker 2: out in the mainstream media trying to keep talking down

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Speaker 2: the economy and it puts a bad taste in people's mouth,

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Speaker 2: then they kind of tend to pull back because they're saying, well,

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Speaker 2: you know, well, really, my economy is okay, my kitchen

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Speaker 2: tape budget is doing fine, but I'm worried about because

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Speaker 2: I'm hearing all this other news out there as far

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Speaker 2: as the economy is concerned, and so maybe I need

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Speaker 2: to pull back a little bit. And when you have

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Speaker 2: that factor coming into play, that's when you start seeing

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Speaker 2: things kind of heading downhill. But again, when they talk

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Speaker 2: about these things and that's a weight on the consumer well,

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Speaker 2: consumer confidence is a weight on the economy, and again

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Speaker 2: getting accurate news from the spoon federal regurgistators in the

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Speaker 2: mainstream media would be nice in order to boost people's

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Speaker 2: confidence on this. Building permits are one of the things.

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Speaker 2: Talking about the yield curve, that's the difference between the

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Speaker 2: ten year Treasury bill and then what that overnight rate

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Speaker 2: from the Federal Reserve. The bigger that gets that affects

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Speaker 2: the economy. And they talk about new orders for manufacturing.

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Speaker 2: When they see new orders from manufacturing, again, you have

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Speaker 2: to buy the raw materials for that. That all has

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Speaker 2: to be trucked to the manufacturing facility, all the raw materials.

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Speaker 2: Then all those raw materials have to be manufactured and

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Speaker 2: then completed. And then at the end of that, then

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Speaker 2: you're not going to take those orders or the orders

439
00:25:09,440 --> 00:25:11,119
Speaker 2: aren't going to be there if there's not going to

440
00:25:11,119 --> 00:25:13,760
Speaker 2: be a sale at the end of that. Once the

441
00:25:13,800 --> 00:25:17,080
Speaker 2: component is completed, then it's gets truck to the location.

442
00:25:17,400 --> 00:25:20,480
Speaker 2: And so again looking at these numbers, you know, as

443
00:25:20,480 --> 00:25:23,280
Speaker 2: far as the trucking industry, whether or not the economy

444
00:25:23,359 --> 00:25:25,280
Speaker 2: is strong, and you're going to be seeing you know,

445
00:25:25,359 --> 00:25:27,520
Speaker 2: a lot of volume over the period of weeks. US

446
00:25:27,600 --> 00:25:31,440
Speaker 2: economy faces slow twenty to twenty six start as leading

447
00:25:31,480 --> 00:25:37,080
Speaker 2: economics fall point two percent, okay, two tenths of one percent.

448
00:25:37,520 --> 00:25:40,880
Speaker 2: Now in here they talk about that the leading economic

449
00:25:40,920 --> 00:25:45,880
Speaker 2: indicators have fallen over the last five months. But each

450
00:25:45,960 --> 00:25:49,720
Speaker 2: month it's it was down point two percent, it was

451
00:25:49,800 --> 00:25:53,680
Speaker 2: down point three percent, the previous month was down point

452
00:25:53,800 --> 00:25:57,920
Speaker 2: one percent. So over that five month period of time,

453
00:25:58,280 --> 00:26:03,600
Speaker 2: the leading economic indicators came down less than one full

454
00:26:03,720 --> 00:26:04,879
Speaker 2: percentage point.

455
00:26:05,160 --> 00:26:08,240
Speaker 1: So again to see the.

456
00:26:08,119 --> 00:26:13,399
Speaker 2: Headline and say that leading economic indicators fall for the

457
00:26:14,119 --> 00:26:17,919
Speaker 2: fifth month in a row, well, again that concerns people.

458
00:26:18,000 --> 00:26:19,800
Speaker 2: People would look at that and say, gee, we have

459
00:26:19,880 --> 00:26:22,239
Speaker 2: a real problem out here. But when you look at

460
00:26:22,240 --> 00:26:24,920
Speaker 2: the numbers the way we do here in americastruck A network,

461
00:26:25,160 --> 00:26:28,040
Speaker 2: you see that it's kind of eh, no big deal. Again,

462
00:26:28,280 --> 00:26:31,359
Speaker 2: when you talk about something that is significant in the

463
00:26:31,400 --> 00:26:36,080
Speaker 2: accounting profession from my previous being covering accountant, when we

464
00:26:36,240 --> 00:26:38,639
Speaker 2: look at financial statements and we try to determine a

465
00:26:38,680 --> 00:26:43,359
Speaker 2: trend until something got to be like a five percent discrepancy.

466
00:26:44,200 --> 00:26:45,520
Speaker 1: Was what it would get your attention.

467
00:26:45,960 --> 00:26:48,320
Speaker 2: If you look at a at a company's books or

468
00:26:48,359 --> 00:26:50,760
Speaker 2: something along those lines and you're trying to render an

469
00:26:50,760 --> 00:26:54,199
Speaker 2: opinion as to whether the financial statements fairly represent that

470
00:26:54,240 --> 00:26:57,760
Speaker 2: particular company. If the numbers are off five percent, that

471
00:26:57,920 --> 00:27:01,719
Speaker 2: is significant enough to number in order to address that.

472
00:27:02,040 --> 00:27:05,639
Speaker 2: So if you're looking at the leading Economic indicators that

473
00:27:05,720 --> 00:27:08,800
Speaker 2: over the last five months haven't decreased even a one

474
00:27:08,960 --> 00:27:12,280
Speaker 2: full percentage point, that is relatively insignificant.

475
00:27:12,359 --> 00:27:14,320
Speaker 1: So again we need to keep that in mind.

476
00:27:15,280 --> 00:27:17,600
Speaker 2: Again, the US economy is still expected to make a

477
00:27:17,640 --> 00:27:22,320
Speaker 2: slow start in twenty twenty six. According to this Justina

478
00:27:22,840 --> 00:27:27,720
Speaker 2: Zabinski La Monica of the Conference Board, the US Leading

479
00:27:27,760 --> 00:27:32,080
Speaker 2: Economic Indicators l EI registered its fifth consecutive monthly the

480
00:27:32,160 --> 00:27:36,119
Speaker 2: kind in December, indicating continuing softness in the economy in

481
00:27:36,200 --> 00:27:40,040
Speaker 2: early twenty twenty six. A one percent decline in leading

482
00:27:40,080 --> 00:27:44,320
Speaker 2: economic indicators is not a softness in the economy, and

483
00:27:44,359 --> 00:27:45,639
Speaker 2: we have seen that in the numbers.

484
00:27:45,800 --> 00:27:47,080
Speaker 1: And of course later on.

485
00:27:47,119 --> 00:27:50,280
Speaker 2: Today we will see or you will hear about, and

486
00:27:50,320 --> 00:27:53,680
Speaker 2: we will be talking about it next week. The gross

487
00:27:53,720 --> 00:27:57,359
Speaker 2: domestic product, and I'm telling you right now, I am

488
00:27:57,440 --> 00:28:02,000
Speaker 2: predicting that that gross domestic will be coming in very

489
00:28:02,000 --> 00:28:05,879
Speaker 2: close to five percent. And then whatever that number is,

490
00:28:06,000 --> 00:28:09,520
Speaker 2: whatever it comes in at Let's not forget that the

491
00:28:09,560 --> 00:28:12,840
Speaker 2: Schumer shut down, the forty three day period of time

492
00:28:12,840 --> 00:28:15,480
Speaker 2: where the government was shut down from October the first

493
00:28:15,560 --> 00:28:20,720
Speaker 2: until November twelfth, that took out from the federal workers

494
00:28:21,119 --> 00:28:25,080
Speaker 2: almost one point four million federal workers either not getting

495
00:28:25,080 --> 00:28:29,360
Speaker 2: a paycheck or were laid off, about fourteen billion dollars

496
00:28:29,400 --> 00:28:32,680
Speaker 2: in terms of their spending ability during that period of time,

497
00:28:33,000 --> 00:28:36,760
Speaker 2: the crucial fourth quarter, getting ready for your Thanksgiving feast,

498
00:28:37,000 --> 00:28:39,760
Speaker 2: getting ready for your Christmas holidays, all the stuff that

499
00:28:39,800 --> 00:28:42,840
Speaker 2: you do towards the tail end during the holiday season.

500
00:28:43,200 --> 00:28:47,160
Speaker 2: Fourteen billion dollars plucked out of the economy because of

501
00:28:47,600 --> 00:28:51,920
Speaker 2: Chuck Schumer's hissy fit over whether or not a temporary

502
00:28:52,240 --> 00:28:57,200
Speaker 2: subsidy should be continued for another three years when it

503
00:28:57,280 --> 00:29:01,200
Speaker 2: was supposed to expire after two So we're already two

504
00:29:01,320 --> 00:29:04,479
Speaker 2: years past when that subsidy should have been dropped. It

505
00:29:04,560 --> 00:29:07,960
Speaker 2: was extended now they wanted then back then, they wanted

506
00:29:07,960 --> 00:29:10,480
Speaker 2: it extended for another three month or three years. They

507
00:29:10,480 --> 00:29:13,880
Speaker 2: didn't get it. They eventually signed onto the bill and

508
00:29:14,280 --> 00:29:17,640
Speaker 2: sent it forward. And so basically a waste of time

509
00:29:17,800 --> 00:29:21,080
Speaker 2: as far as pulling fourteen billion dollars out of the

510
00:29:21,120 --> 00:29:25,520
Speaker 2: economy because they wanted to do something, Chuck Schumer decided

511
00:29:25,520 --> 00:29:27,680
Speaker 2: that he was going to throw a hissy fit. So anyway,

512
00:29:27,760 --> 00:29:30,240
Speaker 2: that's kind of what's going on as far as the consumer.

513
00:29:30,480 --> 00:29:33,880
Speaker 2: As far as these numbers are concerned. Leading economic indicators

514
00:29:34,040 --> 00:29:38,040
Speaker 2: still we consumer expectations indicate new orders, weight on the market.

515
00:29:38,360 --> 00:29:41,560
Speaker 2: The orders are up, though we were seeing those reports yesterday.

516
00:29:42,320 --> 00:29:47,120
Speaker 2: Factory efficiency, factory capacity, all those were up. Building permits

517
00:29:47,120 --> 00:29:49,960
Speaker 2: were up, well down a little bit from the previous month,

518
00:29:50,000 --> 00:29:53,200
Speaker 2: but on a positive side. And we saw the housing

519
00:29:53,240 --> 00:29:57,880
Speaker 2: starts up yesterday. So again, these leading economic indicators that

520
00:29:57,920 --> 00:30:00,880
Speaker 2: they're talking about there seemed to be a little bit off,

521
00:30:00,920 --> 00:30:03,760
Speaker 2: but again, if they're only down point one percent, that's

522
00:30:03,840 --> 00:30:06,640
Speaker 2: nothing to write home about. Coming up, we're gonna be

523
00:30:06,640 --> 00:30:09,640
Speaker 2: talking about something that I've been talking about for a

524
00:30:09,640 --> 00:30:12,840
Speaker 2: long period of time here that you know, this whole

525
00:30:12,880 --> 00:30:16,640
Speaker 2: business of the inflation rate and some of this inflation

526
00:30:17,040 --> 00:30:20,120
Speaker 2: having to do with tariffs is a bunch of bs.

527
00:30:20,680 --> 00:30:24,080
Speaker 2: And the Wall Street Journal has an interesting article on

528
00:30:24,120 --> 00:30:28,160
Speaker 2: that the break is over. Companies are jacking up prices again.

529
00:30:28,560 --> 00:30:31,720
Speaker 2: I'm Kevin Gordon, America's Truck and Network seven hundred W

530
00:30:32,240 --> 00:30:38,040
Speaker 2: l W. This is America's truck in Networks seven hundred

531
00:30:38,160 --> 00:30:42,400
Speaker 2: w l W. I'm Kevin Gordon. We're talking about unemployment

532
00:30:42,440 --> 00:30:44,960
Speaker 2: the weekly Joba's Claims, and then we talked a little

533
00:30:44,960 --> 00:30:48,720
Speaker 2: bit about leading economic indicators, and you know, a bunch

534
00:30:48,760 --> 00:30:51,440
Speaker 2: of what we see there is not necessarily you know,

535
00:30:51,520 --> 00:30:54,720
Speaker 2: again digging into the numbers as we as it pointed out,

536
00:30:55,000 --> 00:30:58,040
Speaker 2: when you hear a headline that says something fell, some

537
00:30:58,200 --> 00:31:01,880
Speaker 2: indicator fell five months in a row, you think, gee whiz,

538
00:31:01,880 --> 00:31:04,080
Speaker 2: that's kind of a big deal. But when you look

539
00:31:04,080 --> 00:31:06,760
Speaker 2: at that and it fell by point one percent, two

540
00:31:06,880 --> 00:31:10,400
Speaker 2: point two percent, point three percent over that period of time,

541
00:31:10,960 --> 00:31:14,320
Speaker 2: less than one percent, not a big deal and not

542
00:31:14,560 --> 00:31:19,680
Speaker 2: a blaring headline where something falls by five to five

543
00:31:19,760 --> 00:31:22,800
Speaker 2: months in a row, that's kind of a well, at best,

544
00:31:22,840 --> 00:31:27,080
Speaker 2: a misleading headline, so to speak. Again, if you miss

545
00:31:27,160 --> 00:31:30,800
Speaker 2: any part of that program or those segments, or any

546
00:31:30,840 --> 00:31:33,040
Speaker 2: of our says, make sure you hit up that iHeartRadio

547
00:31:33,040 --> 00:31:35,680
Speaker 2: app brought to you by our friends at Rush Truck Centers.

548
00:31:36,080 --> 00:31:39,080
Speaker 2: Now I mentioned this before the break. The break is over,

549
00:31:40,800 --> 00:31:41,680
Speaker 2: no pun intended.

550
00:31:41,680 --> 00:31:41,920
Speaker 1: There.

551
00:31:42,360 --> 00:31:47,160
Speaker 2: Companies are jacking up prices again. Companies from Levi Strauss

552
00:31:47,560 --> 00:31:53,000
Speaker 2: to McCormick, among others, say they are raising prices early

553
00:31:53,120 --> 00:31:55,960
Speaker 2: this year on items from blue jeans and spices to

554
00:31:56,080 --> 00:31:57,960
Speaker 2: housewares and industrial products.

555
00:31:58,600 --> 00:31:59,840
Speaker 1: After holding the.

556
00:31:59,720 --> 00:32:03,719
Speaker 2: Line on prices for several months, companies big and small

557
00:32:04,080 --> 00:32:07,080
Speaker 2: had begun a new round of increases, in some cases

558
00:32:07,320 --> 00:32:12,720
Speaker 2: by high single digit percentage points. Companies had raised prices

559
00:32:12,800 --> 00:32:18,640
Speaker 2: last year after tariff's boosted hoisted costs, yet starting in

560
00:32:18,080 --> 00:32:22,200
Speaker 2: the fall, many firms held off increasing and sometimes offered

561
00:32:22,280 --> 00:32:26,920
Speaker 2: discounts to capture holiday shoppers. Now as even lying, Jerry

562
00:32:27,000 --> 00:32:32,160
Speaker 2: Powell pointed out, if a tariff is levied on a particular.

563
00:32:31,640 --> 00:32:34,520
Speaker 1: Product, that price goes up.

564
00:32:34,680 --> 00:32:38,000
Speaker 2: At that point, that same item is going to be

565
00:32:38,040 --> 00:32:41,160
Speaker 2: sold for the same price or imported at the same

566
00:32:41,240 --> 00:32:44,520
Speaker 2: price the month after that, the month after that, and

567
00:32:44,640 --> 00:32:48,880
Speaker 2: the month after that. So once that one off tariff

568
00:32:49,000 --> 00:32:53,800
Speaker 2: price increase comes in, that's factored into that inflation rate

569
00:32:54,040 --> 00:32:57,640
Speaker 2: for that period. Then from that point forward that number

570
00:32:57,680 --> 00:33:01,320
Speaker 2: doesn't go up. So this business them saying that they're

571
00:33:01,360 --> 00:33:07,840
Speaker 2: going to be raising costs due to tariffs is a

572
00:33:07,840 --> 00:33:08,840
Speaker 2: bunch of bs.

573
00:33:09,560 --> 00:33:10,840
Speaker 1: If it's up five.

574
00:33:10,680 --> 00:33:14,520
Speaker 2: Percent last year and that price is still the same

575
00:33:14,840 --> 00:33:17,440
Speaker 2: the following month, the following month and the following month.

576
00:33:17,800 --> 00:33:20,600
Speaker 2: Where do tariffs come into the pro the the.

577
00:33:22,240 --> 00:33:22,880
Speaker 1: Come into the.

578
00:33:22,840 --> 00:33:27,880
Speaker 2: Equation there in terms of pushing prices up. It's already

579
00:33:27,920 --> 00:33:30,400
Speaker 2: factored in there. So let's dig into this a little

580
00:33:30,440 --> 00:33:34,600
Speaker 2: bit more. Uh. Let me see, companies had raised prices

581
00:33:34,680 --> 00:33:37,160
Speaker 2: last year as tariffs, and then we talked about that

582
00:33:37,960 --> 00:33:42,920
Speaker 2: the pricing break is over. Many companies typically raise prices

583
00:33:43,000 --> 00:33:46,760
Speaker 2: at the start of the new year. All Right, companies

584
00:33:47,000 --> 00:33:50,280
Speaker 2: typically raise prices at the start of the new year.

585
00:33:50,680 --> 00:33:53,120
Speaker 1: Why, I guess because they can.

586
00:33:54,640 --> 00:33:58,440
Speaker 2: Yet increasing increases appear to be stronger than normal for

587
00:33:58,560 --> 00:34:02,960
Speaker 2: January for electronic appliances and other durable goods. According to

588
00:34:03,080 --> 00:34:09,840
Speaker 2: ubes economists Alan Debtmeister, all right, again, if that computer,

589
00:34:10,040 --> 00:34:13,759
Speaker 2: if that appliance or whatever had a five percent, ten

590
00:34:13,840 --> 00:34:18,879
Speaker 2: percent or whatever increase, then that is the same month

591
00:34:18,920 --> 00:34:21,759
Speaker 2: after month after month. And where are they deciding that

592
00:34:21,800 --> 00:34:25,040
Speaker 2: they're going to increase these prices again? Again, if they

593
00:34:25,040 --> 00:34:29,440
Speaker 2: want to blame tariffs, it's basically a false comment and

594
00:34:29,480 --> 00:34:33,960
Speaker 2: there's another reason behind it, possibly greed or some other

595
00:34:34,080 --> 00:34:37,240
Speaker 2: costs that are flying in there. Some companies have pointed

596
00:34:37,239 --> 00:34:40,720
Speaker 2: a finger at tariffs for their increases, while others, especially

597
00:34:40,760 --> 00:34:43,640
Speaker 2: small businesses also blame.

598
00:34:45,040 --> 00:34:45,719
Speaker 1: Stop me if.

599
00:34:45,600 --> 00:34:50,440
Speaker 2: You've heard this higher wages and hefty health insurance costs

600
00:34:50,719 --> 00:34:54,600
Speaker 2: that firms said they can't absorb and share with their suppliers.

601
00:34:55,000 --> 00:34:58,839
Speaker 2: Prices on most affordable import goods are up by two

602
00:34:58,880 --> 00:35:02,640
Speaker 2: point three percent since dipping at the end of November,

603
00:35:03,000 --> 00:35:07,239
Speaker 2: according to the data through February. The second collective by

604
00:35:07,600 --> 00:35:12,800
Speaker 2: Alberto Cavello with the Harvard Business School professor who tracks

605
00:35:12,880 --> 00:35:17,240
Speaker 2: daily online prices at major US retailers, the Adobe Digital

606
00:35:17,280 --> 00:35:21,800
Speaker 2: Price Index, found that online prices posted their largest monthly

607
00:35:21,920 --> 00:35:24,880
Speaker 2: increase in a dozen years in January, driven by higher

608
00:35:24,880 --> 00:35:30,000
Speaker 2: prices for electronics, computers, appliances, and furniture, and betting basically,

609
00:35:30,520 --> 00:35:34,160
Speaker 2: if the price isn't justified, stop buying it, and those

610
00:35:34,200 --> 00:35:39,960
Speaker 2: prices will come down, let's seem. Columbia Sportswear said it

611
00:35:40,000 --> 00:35:43,200
Speaker 2: is upping prices of the spring and fall merchandise buy

612
00:35:43,239 --> 00:35:47,920
Speaker 2: an average of high single digit percent, after mostly avoiding

613
00:35:47,960 --> 00:35:51,319
Speaker 2: increases for fall and winter goods. The company said it's

614
00:35:51,360 --> 00:35:55,680
Speaker 2: also renegotiating prices with its factories and taken other steps

615
00:35:55,719 --> 00:35:59,120
Speaker 2: to reduce costs. Well, if you're renegotiating your prices with

616
00:35:59,160 --> 00:36:02,040
Speaker 2: your factories, then your raw goods and the materials you're

617
00:36:02,040 --> 00:36:04,560
Speaker 2: getting from them are down. And if you're taking steps

618
00:36:04,600 --> 00:36:07,319
Speaker 2: to reduce costs, then your costs aren't up. So why

619
00:36:07,360 --> 00:36:09,960
Speaker 2: are you raising prices? I guess maybe because you think

620
00:36:10,000 --> 00:36:13,160
Speaker 2: you can. Chief executive Tim Boyle said in an earnings

621
00:36:13,160 --> 00:36:15,680
Speaker 2: call early in the month, When combined with our other

622
00:36:15,800 --> 00:36:19,000
Speaker 2: mitigation factors, our goal in twenty twenty six is to

623
00:36:19,080 --> 00:36:23,520
Speaker 2: offset the dollar impact of high tariffs. High tariffs were there.

624
00:36:23,840 --> 00:36:26,360
Speaker 2: You pass those through earlier. Now all of a sudden,

625
00:36:26,400 --> 00:36:29,040
Speaker 2: you're going to be passing them through again. Such new

626
00:36:29,040 --> 00:36:33,400
Speaker 2: price increases followed last year's wave of tariff driven high

627
00:36:33,440 --> 00:36:34,200
Speaker 2: price hikes.

628
00:36:34,320 --> 00:36:36,960
Speaker 1: Again, that's a one off. Even lying Jerry.

629
00:36:36,760 --> 00:36:40,960
Speaker 2: Powell talks about that retail prices starting falling beginning in October,

630
00:36:41,120 --> 00:36:43,520
Speaker 2: with the biggest drops before Black Friday.

631
00:36:43,680 --> 00:36:44,960
Speaker 1: According to again this.

632
00:36:47,000 --> 00:36:52,120
Speaker 2: Harvard study, Levi Streiss Levi Strauss rather raised prices last

633
00:36:52,120 --> 00:36:55,640
Speaker 2: month in response to tariffs. Again, we haven't seen any

634
00:36:56,520 --> 00:36:59,640
Speaker 2: we haven't seen any reductions and Levi's over the last

635
00:36:59,680 --> 00:37:02,839
Speaker 2: couple years. In fact, we keep seeing those prices go up.

636
00:37:03,120 --> 00:37:05,640
Speaker 2: So those tariffs are already been factored in. Now they're

637
00:37:05,640 --> 00:37:07,600
Speaker 2: trying to full. You know, fool us again on this

638
00:37:08,000 --> 00:37:11,920
Speaker 2: all right. Among the items now costing more, rib cage

639
00:37:12,160 --> 00:37:16,200
Speaker 2: straight ankled women's jeans priced ten dollars more at one

640
00:37:16,280 --> 00:37:19,719
Speaker 2: hundred and eight, and the original fit men's jeans that

641
00:37:19,760 --> 00:37:24,360
Speaker 2: are five dollars more at eighty four fifty. So my

642
00:37:24,640 --> 00:37:28,400
Speaker 2: thing is stop buying them, you know, as a matter

643
00:37:28,400 --> 00:37:31,680
Speaker 2: of fact, Quite honestly, Levi's are not what.

644
00:37:31,680 --> 00:37:32,640
Speaker 1: Levi's used to be.

645
00:37:32,960 --> 00:37:35,200
Speaker 2: Used to buy a pair of Levis and they would last,

646
00:37:35,320 --> 00:37:38,320
Speaker 2: they would wear like iron and last for a number

647
00:37:38,320 --> 00:37:41,080
Speaker 2: of years. And for some reason, I've noticed over the

648
00:37:41,160 --> 00:37:44,279
Speaker 2: last couple of years that these jeans aren't holding up

649
00:37:44,360 --> 00:37:46,839
Speaker 2: quite as long. The rivets, some of the pockets are

650
00:37:47,000 --> 00:37:49,239
Speaker 2: you know, the stitching isn't quite what it should be.

651
00:37:49,480 --> 00:37:53,279
Speaker 2: There's kind of you know, holes developing, and they're not

652
00:37:53,440 --> 00:37:56,880
Speaker 2: wearing very well. It's, you know, maybe they've got a

653
00:37:57,000 --> 00:37:59,799
Speaker 2: quality control issue there. The apparel company said it is

654
00:38:00,200 --> 00:38:03,520
Speaker 2: more opportunity to make okay. The apparel company said it

655
00:38:03,600 --> 00:38:08,640
Speaker 2: has more opportunity to raise prices on newer and higher

656
00:38:08,880 --> 00:38:13,520
Speaker 2: end products, and is increasing prices by more modest amounts

657
00:38:13,560 --> 00:38:19,160
Speaker 2: on lower priced entry level items. They have more opportunity

658
00:38:19,239 --> 00:38:24,960
Speaker 2: to raise prices, so again, stop buying SSRG a typically

659
00:38:25,320 --> 00:38:30,200
Speaker 2: see Structural Systems Repair Group, a Cincinnati based construction company,

660
00:38:30,560 --> 00:38:33,840
Speaker 2: is taking a ten percent to fifteen percent increase in

661
00:38:33,960 --> 00:38:37,600
Speaker 2: prices that will show in new contracts this year. SSRG

662
00:38:38,040 --> 00:38:43,120
Speaker 2: typically absorbs increases, according to Brian Ericson, the company's president,

663
00:38:43,520 --> 00:38:47,439
Speaker 2: they normally absorb prices if the materials cost totaling five

664
00:38:47,560 --> 00:38:51,200
Speaker 2: percent or less. But terriffs push steel prices up by

665
00:38:51,239 --> 00:38:54,600
Speaker 2: ten percent last year. Now we haven't had a chance

666
00:38:54,640 --> 00:38:56,400
Speaker 2: to talk about it, but it's been in the news

667
00:38:56,680 --> 00:39:00,560
Speaker 2: that tariffs on aluminum and steel are coming down. I'll

668
00:39:00,560 --> 00:39:03,560
Speaker 2: be very curious in the future if we see a

669
00:39:03,680 --> 00:39:08,280
Speaker 2: price decrease from SSRG because these tariffs have come down

670
00:39:08,520 --> 00:39:10,920
Speaker 2: when the tariffs come down, because we have seen some

671
00:39:11,000 --> 00:39:13,440
Speaker 2: of the tariffs go from twenty five percent down to

672
00:39:13,480 --> 00:39:16,879
Speaker 2: fifteen percent or ten percent, are we going to see

673
00:39:16,920 --> 00:39:19,399
Speaker 2: a reduction in those prices or are they just going

674
00:39:19,440 --> 00:39:23,359
Speaker 2: to increase their margins and make more profit. It's not

675
00:39:23,440 --> 00:39:26,160
Speaker 2: sustainable for us to tolerate that kind of an increase

676
00:39:26,560 --> 00:39:31,240
Speaker 2: by raising companies price. By raising prices, companies risk turning

677
00:39:31,280 --> 00:39:36,160
Speaker 2: off buyers, which I suggest we do in this indication. Here,

678
00:39:36,200 --> 00:39:40,000
Speaker 2: there's this company that they feature, Virginia Sin. She is

679
00:39:41,239 --> 00:39:45,040
Speaker 2: the Sin manufacturing whatever they do. Let me see Sin,

680
00:39:45,320 --> 00:39:48,919
Speaker 2: a company that makes housewares and lighting in Brooklyn, New York,

681
00:39:49,360 --> 00:39:52,359
Speaker 2: is archiving certain items because they don't think they can

682
00:39:52,400 --> 00:39:56,080
Speaker 2: pass those increases on tariff increase And let me see

683
00:39:56,080 --> 00:39:59,479
Speaker 2: many businesses have tried to offset terraffs. But when she's

684
00:39:59,520 --> 00:40:05,000
Speaker 2: talking about what's happening in her company, she's talking about wages, shipping,

685
00:40:05,080 --> 00:40:06,080
Speaker 2: and other expenses.

686
00:40:06,160 --> 00:40:07,760
Speaker 1: Those have nothing to do with terraffs.

687
00:40:08,160 --> 00:40:12,800
Speaker 2: Starting, wages for new employees in training rose twenty percent

688
00:40:13,200 --> 00:40:16,680
Speaker 2: between twenty twenty two and twenty twenty five. I keep

689
00:40:16,800 --> 00:40:20,160
Speaker 2: mentioning this over and over again. I'm not opposed to

690
00:40:20,280 --> 00:40:23,719
Speaker 2: increases in salaries and wages because people have to make

691
00:40:23,800 --> 00:40:27,000
Speaker 2: up for all of the increase in inflation over the

692
00:40:27,040 --> 00:40:30,640
Speaker 2: Biden years. But when you raise prices because of wages,

693
00:40:31,040 --> 00:40:34,160
Speaker 2: admit it. Don't blame it on the terraffs. Well, folks,

694
00:40:34,200 --> 00:40:36,399
Speaker 2: we're up against clock here. Stay tuned for RETI Radio

695
00:40:36,520 --> 00:40:39,640
Speaker 2: Top of the Hour. I'm Kevin Gordon, America's Trucking Network

696
00:40:39,840 --> 00:40:41,560
Speaker 2: seven hundred WLW