1 00:00:00,640 --> 00:00:02,040 Speaker 1: Can'tf I am six forty. 2 00:00:02,120 --> 00:00:05,520 Speaker 2: You're listening to the John Coblt podcast on the iHeartRadio app. 3 00:00:06,360 --> 00:00:09,280 Speaker 3: It's the John Coblt Show. Lou Penrose sitting in for 4 00:00:09,320 --> 00:00:13,600 Speaker 3: John Coblt. This week, California State Senator Tony Strickland says 5 00:00:13,640 --> 00:00:16,239 Speaker 3: that maybe it's time to send the high speed rail 6 00:00:16,400 --> 00:00:19,960 Speaker 3: back to the voters now. The number is ninety billion dollars. 7 00:00:20,280 --> 00:00:22,919 Speaker 3: It will cost more than ninety billion dollars to build 8 00:00:22,920 --> 00:00:25,800 Speaker 3: a high speed rail from San Francisco to Palmdale, and. 9 00:00:25,760 --> 00:00:28,520 Speaker 1: Authority officials tell me today they are confident the state 10 00:00:28,560 --> 00:00:30,800 Speaker 1: will meet that goal, but critics say the state would 11 00:00:30,840 --> 00:00:33,440 Speaker 1: be better off spending that money in much more needed areas. 12 00:00:33,560 --> 00:00:36,360 Speaker 3: And one of those critics is California State Senator Tony Strickland, 13 00:00:36,360 --> 00:00:38,839 Speaker 3: who joins us on KFI. Senator, thanks so much for 14 00:00:38,880 --> 00:00:41,559 Speaker 3: coming on. I can't believe we're still talking about this. 15 00:00:42,880 --> 00:00:46,879 Speaker 4: No, it's amazing, Lou. My dad always taught me as 16 00:00:46,920 --> 00:00:48,720 Speaker 4: a kid, if you dig a hole for yourself, the 17 00:00:48,720 --> 00:00:50,000 Speaker 4: best way they get out of that hole is to 18 00:00:50,040 --> 00:00:54,640 Speaker 4: stop digging. And it is unbelievable. This is the most 19 00:00:54,680 --> 00:01:00,480 Speaker 4: egregious public project, probably in world history, and passed it. 20 00:01:00,640 --> 00:01:05,080 Speaker 4: It's remind all the listeners it was passed and they 21 00:01:05,120 --> 00:01:07,399 Speaker 4: sold it to the people of California as a thirty 22 00:01:07,400 --> 00:01:11,120 Speaker 4: three billion dollar project that'll be done by twenty twenty 23 00:01:11,240 --> 00:01:13,600 Speaker 4: and it would go from Los Angeles to San Francisco. 24 00:01:14,319 --> 00:01:16,800 Speaker 4: Now the overall cost they said ninety billion, that was 25 00:01:16,840 --> 00:01:19,399 Speaker 4: just for a segment of it. The overall cost is 26 00:01:19,440 --> 00:01:22,480 Speaker 4: now over one hundred and twenty eight billion dollars and 27 00:01:22,600 --> 00:01:25,360 Speaker 4: done by two thousand and thirty eight and climbing. And 28 00:01:25,440 --> 00:01:28,679 Speaker 4: so I think it's about time that we pulled the 29 00:01:28,680 --> 00:01:31,160 Speaker 4: plug on the high speed rail. And at the very least, 30 00:01:31,160 --> 00:01:32,920 Speaker 4: I think we should pull the plug, but at the 31 00:01:33,040 --> 00:01:34,959 Speaker 4: very least we should put it back to the voters 32 00:01:35,000 --> 00:01:38,759 Speaker 4: because it's nowhere near what they agreed to. They agreed 33 00:01:39,200 --> 00:01:42,360 Speaker 4: San Francisco Los Angeles for a thirty three billion, and 34 00:01:42,480 --> 00:01:45,880 Speaker 4: now it's we're said to Bakersfield and another segment, Gilroy 35 00:01:45,959 --> 00:01:48,480 Speaker 4: the Palmdell for one hundred and twenty eight billion. I 36 00:01:48,520 --> 00:01:51,160 Speaker 4: would venture to say most of the supporters and most 37 00:01:51,160 --> 00:01:53,800 Speaker 4: of California's would not vote for a project that it's 38 00:01:53,840 --> 00:01:57,120 Speaker 4: that expensive. And to put that in perspective, that's more 39 00:01:57,160 --> 00:01:59,920 Speaker 4: expensive than an entire state budget was ten years ago 40 00:02:00,600 --> 00:02:05,160 Speaker 4: by far, and so we're talking about one project more 41 00:02:05,240 --> 00:02:07,960 Speaker 4: expensive than the whole state budget was just less than 42 00:02:08,000 --> 00:02:10,080 Speaker 4: ten years ago. And I think it's about timely we 43 00:02:10,120 --> 00:02:11,320 Speaker 4: pulled the plug on this project. 44 00:02:11,840 --> 00:02:13,720 Speaker 1: Even you know, I was interested in these numbers. 45 00:02:13,760 --> 00:02:17,480 Speaker 3: I mean, even at thirty three billion dollars, how many 46 00:02:17,520 --> 00:02:21,200 Speaker 3: people need to go because not that everybody is going 47 00:02:21,280 --> 00:02:23,480 Speaker 3: to go high speed rail from LA to San Francisco. 48 00:02:23,680 --> 00:02:27,000 Speaker 3: People will still fly Southwest, will still be there, and 49 00:02:27,040 --> 00:02:28,320 Speaker 3: not everybody is only in. 50 00:02:28,320 --> 00:02:29,639 Speaker 1: Los Angeles and San Francisco. 51 00:02:29,720 --> 00:02:31,920 Speaker 3: Some people that live in Fresno will go to San 52 00:02:31,960 --> 00:02:33,200 Speaker 3: Francisco and not. 53 00:02:33,120 --> 00:02:33,679 Speaker 1: Take the rail. 54 00:02:33,919 --> 00:02:37,120 Speaker 3: So it never really penciled down to me as an 55 00:02:37,200 --> 00:02:38,519 Speaker 3: absolute necessity. 56 00:02:39,040 --> 00:02:41,960 Speaker 1: Yet everybody was so excited about or at least Democrats 57 00:02:42,000 --> 00:02:42,280 Speaker 1: were so. 58 00:02:42,240 --> 00:02:45,360 Speaker 3: Excited about it at the time, and it sounded flashy 59 00:02:45,560 --> 00:02:47,480 Speaker 3: and we're not even close and. 60 00:02:47,360 --> 00:02:50,360 Speaker 4: Now at that time, yeah, at that time. I was 61 00:02:50,400 --> 00:02:54,200 Speaker 4: in Sacramelo twelve years ago when it passed, and it 62 00:02:54,240 --> 00:02:57,160 Speaker 4: was the last vote I did when I left the Senate, 63 00:02:57,320 --> 00:03:00,000 Speaker 4: and I said, at the time, they couldn't tell you 64 00:03:00,160 --> 00:03:02,840 Speaker 4: how much a ticket it would costs. These are basic 65 00:03:02,960 --> 00:03:05,959 Speaker 4: questions that you ask if you do any building project, well, 66 00:03:05,960 --> 00:03:08,520 Speaker 4: how much will it cost? They don't know how long 67 00:03:08,600 --> 00:03:11,280 Speaker 4: will it take to get from San Francisco to Los Angeles, 68 00:03:11,480 --> 00:03:13,959 Speaker 4: for example, it can be very high speed rail or 69 00:03:14,080 --> 00:03:17,480 Speaker 4: high speed if you have eleven stops, and so they 70 00:03:17,520 --> 00:03:20,680 Speaker 4: can't answer the basic questions. At that time, I said, 71 00:03:21,000 --> 00:03:23,400 Speaker 4: you know, my boy was like three or four years old, 72 00:03:23,720 --> 00:03:26,200 Speaker 4: and I said, when he goes to college, they're going 73 00:03:26,280 --> 00:03:28,000 Speaker 4: to have the train from the middle of nowhere in 74 00:03:28,000 --> 00:03:30,160 Speaker 4: the Central Valley to another part of the middle of nowhere, 75 00:03:30,480 --> 00:03:33,720 Speaker 4: the Central Valley when I jump off to college. Fast forward. 76 00:03:33,720 --> 00:03:36,680 Speaker 4: He's going to college next year. And it's proficient that 77 00:03:36,760 --> 00:03:39,720 Speaker 4: I said that. But the problem is we suddenly laid 78 00:03:39,760 --> 00:03:41,920 Speaker 4: down one track. I thought we'd be further along than 79 00:03:41,960 --> 00:03:44,800 Speaker 4: we are. We spent all this money on consultants and 80 00:03:44,880 --> 00:03:49,240 Speaker 4: everything else. In fact, the House Oversight Committee has now 81 00:03:49,280 --> 00:03:52,960 Speaker 4: launched an investigation investigating the people who run the high 82 00:03:52,960 --> 00:03:57,640 Speaker 4: speed rail about costs and ridership estimates. That they were misrepresented, 83 00:03:58,040 --> 00:04:02,160 Speaker 4: and so the oversights there. Homer from Kentucky is now 84 00:04:02,240 --> 00:04:06,240 Speaker 4: leading hearings, and you're going to get more information out 85 00:04:06,560 --> 00:04:08,600 Speaker 4: on how they've waste the money. The only thing high 86 00:04:08,640 --> 00:04:11,240 Speaker 4: Speed about this is the way in the high speed 87 00:04:11,280 --> 00:04:12,640 Speaker 4: they waste our taxpayer money. 88 00:04:13,440 --> 00:04:16,320 Speaker 3: Is there anything that can be done with the segments 89 00:04:16,320 --> 00:04:17,440 Speaker 3: that are already built? 90 00:04:17,440 --> 00:04:20,360 Speaker 1: I mean, is there anything? How does the boat There's 91 00:04:20,360 --> 00:04:21,159 Speaker 1: a Valley feel about? 92 00:04:21,200 --> 00:04:24,360 Speaker 4: I mean, most of the segments have not been built, 93 00:04:24,640 --> 00:04:26,680 Speaker 4: and I would argue that it would be better to 94 00:04:26,760 --> 00:04:30,040 Speaker 4: defund this. They're dedicating a billion dollars a year out 95 00:04:30,040 --> 00:04:32,480 Speaker 4: of the Captain's Great Fund. It's a little slush fund 96 00:04:32,480 --> 00:04:35,640 Speaker 4: that they have, and they're still running about a ten 97 00:04:35,720 --> 00:04:39,800 Speaker 4: billion dollars to thirteen billion dollar deficit moving forward. What 98 00:04:39,839 --> 00:04:41,479 Speaker 4: I would rather do is to spend that money and 99 00:04:41,520 --> 00:04:44,520 Speaker 4: lower our gas tax. But even if it's not lowering 100 00:04:44,520 --> 00:04:46,440 Speaker 4: the gas tax for of everybody in California, which is 101 00:04:46,440 --> 00:04:49,520 Speaker 4: my proposal, we have a lost several ready projects throughout 102 00:04:49,520 --> 00:04:52,440 Speaker 4: the state of California, whether in Southern California to get 103 00:04:52,440 --> 00:04:55,520 Speaker 4: ready for the Olympics and also the World Cup, or 104 00:04:55,520 --> 00:04:58,280 Speaker 4: in Northern California or Central California. We have a lot 105 00:04:58,320 --> 00:05:01,800 Speaker 4: of important investments in and infrastructure that we can invest in 106 00:05:02,040 --> 00:05:04,400 Speaker 4: that'll be better for the people of California than this 107 00:05:04,520 --> 00:05:09,200 Speaker 4: one project. This one project is as proposed to the 108 00:05:09,200 --> 00:05:12,080 Speaker 4: people in California will never be built, and everybody in 109 00:05:12,120 --> 00:05:14,719 Speaker 4: Sacramento knows it will never be built. And that's why 110 00:05:14,720 --> 00:05:17,400 Speaker 4: I'm pushing really hard to try to get it defunded. 111 00:05:17,720 --> 00:05:20,000 Speaker 4: And I would encourage our listeners call your state center, 112 00:05:20,120 --> 00:05:23,200 Speaker 4: call your assembly member, and say enough enough, stop wasting 113 00:05:23,200 --> 00:05:27,560 Speaker 4: our money on this high speed rail and let's move 114 00:05:27,600 --> 00:05:29,680 Speaker 4: that money to things that are more important for the 115 00:05:29,680 --> 00:05:33,880 Speaker 4: people of California. And also call Governor Newsom's office and say, 116 00:05:33,880 --> 00:05:36,039 Speaker 4: please pull the plug on this high speed rail. My 117 00:05:36,120 --> 00:05:39,479 Speaker 4: guess is whoever the next governor is will pull the 118 00:05:39,520 --> 00:05:41,440 Speaker 4: plug on this project if not done before. 119 00:05:42,040 --> 00:05:44,839 Speaker 3: We're talking with California State Senator Tony Strickland Orange County 120 00:05:44,880 --> 00:05:49,280 Speaker 3: Coast of Orange County Ken is there any opportunity to 121 00:05:49,480 --> 00:05:52,920 Speaker 3: like auction off what it has been built and the 122 00:05:53,480 --> 00:05:56,960 Speaker 3: zoning rights for the easements, Maybe like a private company 123 00:05:57,000 --> 00:05:58,600 Speaker 3: can make some use out of. 124 00:05:58,560 --> 00:05:59,960 Speaker 1: It, turn it into a. 125 00:06:02,640 --> 00:06:05,720 Speaker 3: It's particulars, we should get something out of it. 126 00:06:06,920 --> 00:06:09,240 Speaker 4: Well, maybe you use materials, but you're assuming that those 127 00:06:09,279 --> 00:06:12,400 Speaker 4: billions of dollars that we've spent went to materials. A 128 00:06:12,400 --> 00:06:15,200 Speaker 4: lot of it went to consulting and studies. In fact, 129 00:06:15,200 --> 00:06:19,599 Speaker 4: the state just passed another study for seven hundred thousand dollars. 130 00:06:19,880 --> 00:06:21,640 Speaker 4: This has been the most steady thing in the world. 131 00:06:21,920 --> 00:06:24,360 Speaker 4: At some point, you got to take action and build it. 132 00:06:24,560 --> 00:06:27,120 Speaker 4: And the problem is they've been studying it to death. 133 00:06:27,440 --> 00:06:30,240 Speaker 4: They've been buying up the different parts of the property, 134 00:06:31,360 --> 00:06:34,039 Speaker 4: and they really haven't laid down the track. So again, 135 00:06:34,080 --> 00:06:37,120 Speaker 4: I believe there's other projects that you can use, you know, 136 00:06:37,240 --> 00:06:40,640 Speaker 4: water projects. Uh, there's other highway projects throughout the state 137 00:06:40,680 --> 00:06:42,680 Speaker 4: of California that are shovel ready. They will be better 138 00:06:42,680 --> 00:06:45,919 Speaker 4: for Californians than this one project. And again, the cost 139 00:06:45,960 --> 00:06:48,720 Speaker 4: of this one project is more than the entire state 140 00:06:48,760 --> 00:06:52,000 Speaker 4: budget was this lested ten years ago. And I'm telling 141 00:06:52,000 --> 00:06:54,520 Speaker 4: you right now, we have too many needs in California, 142 00:06:55,120 --> 00:06:59,960 Speaker 4: from energy needs and to public safety. We didn't find 143 00:07:00,040 --> 00:07:03,000 Speaker 4: Proposition thirty six that pass seventy percent of the vote 144 00:07:03,560 --> 00:07:07,040 Speaker 4: in all fifty eight counties to keep California safe. You know, 145 00:07:07,080 --> 00:07:09,200 Speaker 4: those are the better things to spend money on and 146 00:07:09,279 --> 00:07:11,640 Speaker 4: lower our gas tax. You know, we need to make 147 00:07:11,680 --> 00:07:15,480 Speaker 4: sure California is more affordable. And again, money can be 148 00:07:15,480 --> 00:07:17,240 Speaker 4: better spent on a lot of other things that are 149 00:07:17,240 --> 00:07:19,280 Speaker 4: better than this one project. And we need to pull 150 00:07:19,280 --> 00:07:20,320 Speaker 4: the plug on this project. 151 00:07:20,640 --> 00:07:23,040 Speaker 3: Senator Tony Strickland, thanks so much, always good to catch 152 00:07:23,120 --> 00:07:24,200 Speaker 3: up with you appreciate it. 153 00:07:24,720 --> 00:07:26,320 Speaker 1: Man, a boondoggle. 154 00:07:27,040 --> 00:07:30,040 Speaker 3: If this isn't a boondoggle, what is the definition of 155 00:07:30,040 --> 00:07:30,679 Speaker 3: a boon doggle. 156 00:07:30,760 --> 00:07:33,560 Speaker 4: Yeah. If your listeners want a way in, they could 157 00:07:33,560 --> 00:07:38,080 Speaker 4: go to my website. Just google Senator Tony Strickland District 158 00:07:38,080 --> 00:07:40,440 Speaker 4: thirty six and I would love to hear from I 159 00:07:40,440 --> 00:07:41,880 Speaker 4: would love to hear from your listeners. 160 00:07:42,920 --> 00:07:44,800 Speaker 1: I appreciate it. Center, Senator Tony Strickland. 161 00:07:44,840 --> 00:07:46,960 Speaker 3: All right, when we come back, we'll get into some 162 00:07:46,960 --> 00:07:49,800 Speaker 3: of the details of where this is and where it 163 00:07:49,880 --> 00:07:52,680 Speaker 3: could possibly go. And it really doesn't look like a 164 00:07:52,680 --> 00:07:54,520 Speaker 3: whole lot that can be done. I think the Senator 165 00:07:54,560 --> 00:07:56,400 Speaker 3: is quite correct. Most of the money was spent on 166 00:07:56,640 --> 00:08:00,720 Speaker 3: hearings and studies and consultants. Lou Penrod in for John 167 00:08:00,760 --> 00:08:04,360 Speaker 3: Coblt on the John Coblt Show on KFI AM six forty. 168 00:08:05,080 --> 00:08:09,440 Speaker 5: You're listening to John Cobelt on demand from KFI AM 169 00:08:09,440 --> 00:08:10,000 Speaker 5: six forty. 170 00:08:11,440 --> 00:08:15,280 Speaker 3: Loup Penrose in for John Coblt this week, So twenty 171 00:08:15,360 --> 00:08:19,200 Speaker 3: thirty nine, that's the new date, and ninety billion dollars 172 00:08:19,840 --> 00:08:24,560 Speaker 3: for the two stops or the two runs that are 173 00:08:24,760 --> 00:08:27,160 Speaker 3: already been established for the high speed rail. So the 174 00:08:27,240 --> 00:08:32,320 Speaker 3: dreams of being somewhere in downtown LA or somewhere in 175 00:08:32,360 --> 00:08:34,800 Speaker 3: an area of Los Angeles that's accessible to us all 176 00:08:35,320 --> 00:08:39,480 Speaker 3: and then taking getting on this fast, lightning, fast, silver, 177 00:08:39,640 --> 00:08:47,120 Speaker 3: shiny train and being all comfortable, no homeless people, no weirdos, 178 00:08:47,240 --> 00:08:51,160 Speaker 3: no maniacs, sitting down with a cup of coffee and bleep, 179 00:08:51,360 --> 00:08:53,760 Speaker 3: and just like that you wind up in San Francisco 180 00:08:54,160 --> 00:08:55,040 Speaker 3: in time for lunch. 181 00:08:55,800 --> 00:08:58,760 Speaker 1: That's the way it was sold. It always sounds more 182 00:08:58,800 --> 00:08:59,840 Speaker 1: magical than it ever is. 183 00:09:01,559 --> 00:09:03,880 Speaker 3: Then they were never able to make it happen, and 184 00:09:04,000 --> 00:09:06,600 Speaker 3: I knew that this was not going to be a 185 00:09:06,679 --> 00:09:09,920 Speaker 3: hit when as you heard Senator Tony Strickland just say, there, 186 00:09:10,040 --> 00:09:13,040 Speaker 3: they never were able to tell us what the ticket 187 00:09:13,040 --> 00:09:14,240 Speaker 3: would cost, which is. 188 00:09:14,200 --> 00:09:17,240 Speaker 1: The only thing I want to know now I get it. 189 00:09:17,880 --> 00:09:20,640 Speaker 3: A ticket to go on a high speed rail ride 190 00:09:20,800 --> 00:09:24,240 Speaker 3: from Los Angeles to San Francisco direct in twenty ten 191 00:09:24,360 --> 00:09:26,560 Speaker 3: is going to be different than twenty twenty, and it's 192 00:09:26,559 --> 00:09:29,040 Speaker 3: going to be different than twenty twenty five. But I 193 00:09:29,080 --> 00:09:34,320 Speaker 3: can adjust for inflation, like I can reasonably figure out 194 00:09:34,360 --> 00:09:35,520 Speaker 3: how much it's gonna cost me. 195 00:09:38,080 --> 00:09:40,559 Speaker 1: And compare it to a flight. 196 00:09:42,600 --> 00:09:45,400 Speaker 3: So I never figured out, like, if we don't know 197 00:09:45,440 --> 00:09:48,079 Speaker 3: how much it's going to cost for me to do it, 198 00:09:49,080 --> 00:09:52,040 Speaker 3: why would you want to build it. 199 00:09:54,600 --> 00:09:56,640 Speaker 1: So Strickland says, we need to pull the plug on 200 00:09:56,679 --> 00:09:57,160 Speaker 1: the whole thing. 201 00:09:57,200 --> 00:09:59,800 Speaker 6: We need to pull the plug on the high speed rail. 202 00:10:00,160 --> 00:10:02,599 Speaker 6: At the very least, let's send it back to the 203 00:10:02,679 --> 00:10:06,439 Speaker 6: voters and let them decide if they want to spend billions, 204 00:10:06,640 --> 00:10:08,920 Speaker 6: over one hundred billion dollars on. 205 00:10:09,880 --> 00:10:13,040 Speaker 3: It's interesting how much money we waste in infrastructure in 206 00:10:13,080 --> 00:10:17,320 Speaker 3: the state. And the dream is that people will want 207 00:10:17,360 --> 00:10:21,520 Speaker 3: to be using public transportation. And I have lived in 208 00:10:21,559 --> 00:10:26,240 Speaker 3: southern California since nineteen ninety and it's always been a 209 00:10:26,280 --> 00:10:26,959 Speaker 3: car culture. 210 00:10:27,240 --> 00:10:29,840 Speaker 1: People love to take their cars out, people love to 211 00:10:29,920 --> 00:10:33,280 Speaker 1: drive it. Just there's no way to subway underneath it. 212 00:10:33,320 --> 00:10:35,720 Speaker 1: There's no way to high speed rail over it. 213 00:10:35,920 --> 00:10:39,920 Speaker 3: Nobody ever wants to put a monorail in the median, 214 00:10:40,640 --> 00:10:43,320 Speaker 3: Nobody ever wants a double deck the highway. The tall 215 00:10:43,400 --> 00:10:47,000 Speaker 3: roads never work out. It's always too expensive. It's it's 216 00:10:47,120 --> 00:10:49,080 Speaker 3: always been the same story. 217 00:10:52,000 --> 00:10:53,280 Speaker 7: And it never goes anywhere. 218 00:10:54,120 --> 00:10:56,960 Speaker 3: And now but people so badly want it to be 219 00:10:57,240 --> 00:10:59,880 Speaker 3: a way that it will never be that. They're able 220 00:10:59,880 --> 00:11:03,080 Speaker 3: to events voters, and they were able to get money 221 00:11:03,120 --> 00:11:06,200 Speaker 3: and start the project and make it sound so supersonic. 222 00:11:08,600 --> 00:11:13,040 Speaker 3: The train high speed trained to Las Vegas had a 223 00:11:13,080 --> 00:11:16,400 Speaker 3: far higher likelihood of ever happening, and that was private. 224 00:11:16,480 --> 00:11:19,800 Speaker 3: This is a private idea even that hasn't happened yet. 225 00:11:20,960 --> 00:11:22,880 Speaker 3: I don't know when it's ever going to happen. I 226 00:11:22,880 --> 00:11:24,640 Speaker 3: don't know where I have to drive to to park 227 00:11:24,679 --> 00:11:26,480 Speaker 3: my car. I think I have to go all the 228 00:11:26,520 --> 00:11:29,160 Speaker 3: way to Palmdale Ranchabukumonga. I don't know, but like it's 229 00:11:29,200 --> 00:11:33,600 Speaker 3: far away to start the journey. And again, this is 230 00:11:33,600 --> 00:11:37,760 Speaker 3: a private idea, and it was all kinds of problems 231 00:11:38,640 --> 00:11:42,960 Speaker 3: to get the necessary permits and all the environmental impact 232 00:11:43,040 --> 00:11:46,520 Speaker 3: reports and whatever lizard you were driving over out in 233 00:11:46,559 --> 00:11:52,120 Speaker 3: the desert. It was studied literally since I started working 234 00:11:52,400 --> 00:11:55,640 Speaker 3: for Members of Congress in two thousand and Here we 235 00:11:55,679 --> 00:11:59,920 Speaker 3: are at twenty twenty five, and we're not a whole lot. 236 00:11:59,720 --> 00:12:01,280 Speaker 3: Don't think we're a whole lot closer to a high 237 00:12:01,280 --> 00:12:04,079 Speaker 3: speed rail. And that's to Las Vegas, where people go. 238 00:12:04,400 --> 00:12:07,600 Speaker 3: People want to go every weekend. Every time I've ever 239 00:12:07,640 --> 00:12:10,640 Speaker 3: gone to Vegas, it's a jam on Sunday, it's a 240 00:12:10,720 --> 00:12:13,240 Speaker 3: jam on Friday. I guarantee you we're going into a 241 00:12:13,280 --> 00:12:16,199 Speaker 3: holiday weekend. And everybody says nobody's going to Vegas anymore, 242 00:12:16,840 --> 00:12:20,920 Speaker 3: But go out there and take a look at the 243 00:12:20,960 --> 00:12:25,839 Speaker 3: fifteen on Monday afternoon, going out there on Thursday. They're 244 00:12:25,880 --> 00:12:30,360 Speaker 3: all going somewhere near Vegas, that's for sure, if they're 245 00:12:30,360 --> 00:12:34,000 Speaker 3: not going to Vegas itself. So that would make sense 246 00:12:34,120 --> 00:12:36,160 Speaker 3: to put all those people, because you really don't need 247 00:12:36,200 --> 00:12:39,840 Speaker 3: your car in Vegas anyway. So of all places, it 248 00:12:39,880 --> 00:12:42,080 Speaker 3: makes sense to have a high speed rail to Las Vegas. 249 00:12:42,120 --> 00:12:45,040 Speaker 7: And that's not built, and. 250 00:12:45,000 --> 00:12:47,640 Speaker 3: I don't know how much that's gonna cost, and I 251 00:12:47,679 --> 00:12:50,760 Speaker 3: wouldn't do it every time because sometimes you go to 252 00:12:50,800 --> 00:12:53,640 Speaker 3: Vegas and then you find yourself going down to Lake 253 00:12:53,640 --> 00:12:57,440 Speaker 3: Havasu or going somewhere up like we need to be mobile. 254 00:12:58,520 --> 00:13:04,240 Speaker 3: So this whole concept doesn't work and never works for California. 255 00:13:03,760 --> 00:13:05,600 Speaker 1: But people continue to try and try and try. 256 00:13:05,720 --> 00:13:06,600 Speaker 7: High speed rail. 257 00:13:06,800 --> 00:13:10,880 Speaker 8: Yes that the Chinese and the Japanese have, they use 258 00:13:10,960 --> 00:13:14,240 Speaker 8: it to move goods across their country. So a high 259 00:13:14,240 --> 00:13:18,200 Speaker 8: speed rail system that move goods would be better than 260 00:13:18,240 --> 00:13:22,160 Speaker 8: a high speed rail system that transported people. High speed 261 00:13:22,200 --> 00:13:25,800 Speaker 8: rail is a necessity to keep up with the Chinese. 262 00:13:25,920 --> 00:13:29,640 Speaker 3: Why do people always want to be like the Chinese? 263 00:13:29,760 --> 00:13:33,920 Speaker 3: Why do policymakers always want us to be like the 264 00:13:34,040 --> 00:13:36,200 Speaker 3: Japanese and the Chinese? Why do we have to model 265 00:13:36,240 --> 00:13:41,600 Speaker 3: our transportation society and transportation culture after what the Chinese do, 266 00:13:42,120 --> 00:13:46,360 Speaker 3: or frankly, what the Europeans do. I constantly hear this, 267 00:13:47,040 --> 00:13:49,200 Speaker 3: we should have high speed rail like they do in Japan. 268 00:13:50,960 --> 00:13:53,200 Speaker 3: Maybe the Japanese want to drive cars. Do you know 269 00:13:53,240 --> 00:13:57,079 Speaker 3: who really wants to not be like the Chinese? The Chinese. 270 00:13:58,920 --> 00:14:01,240 Speaker 3: You know what the Chinese people would rather do drive 271 00:14:01,280 --> 00:14:06,720 Speaker 3: a Buick, the hottest make of American car, The hottest 272 00:14:06,720 --> 00:14:09,800 Speaker 3: make of any car in China among the well to 273 00:14:09,840 --> 00:14:10,640 Speaker 3: do set. 274 00:14:12,480 --> 00:14:14,240 Speaker 1: Is an American Buick. Did you know that. 275 00:14:16,120 --> 00:14:19,680 Speaker 3: Some nostalgia about the time that Buick was a hot 276 00:14:19,680 --> 00:14:22,640 Speaker 3: car and what was going on in Chinese culture at 277 00:14:22,680 --> 00:14:26,000 Speaker 3: the time. But for whatever reason, that make is a 278 00:14:26,000 --> 00:14:28,160 Speaker 3: big deal. So the Chinese don't want to be on 279 00:14:28,200 --> 00:14:30,960 Speaker 3: high speed rails, They don't want mass transportation. 280 00:14:31,240 --> 00:14:33,440 Speaker 1: They all want want to be tooling around China and 281 00:14:33,480 --> 00:14:33,920 Speaker 1: a Buick. 282 00:14:36,360 --> 00:14:38,240 Speaker 3: And yet I'm constantly told how we need to be 283 00:14:38,360 --> 00:14:41,920 Speaker 3: like other countries. We need to model infrastructure like they 284 00:14:41,960 --> 00:14:46,920 Speaker 3: do in Europe. Why in Europe so many people want 285 00:14:46,960 --> 00:14:51,960 Speaker 3: to drive cars so badly that so much of the 286 00:14:52,040 --> 00:14:56,720 Speaker 3: economies of some of these Western European countries are funded 287 00:14:56,960 --> 00:15:00,200 Speaker 3: by the outrageous taxes that. 288 00:15:00,200 --> 00:15:02,880 Speaker 1: The government's place on automobile ownership. 289 00:15:04,520 --> 00:15:08,480 Speaker 3: Like it's it's actually it's a function of the of 290 00:15:08,560 --> 00:15:14,160 Speaker 3: the income to the treasuries of these countries. Because people 291 00:15:14,160 --> 00:15:17,120 Speaker 3: as soon as somebody actually starts making a good living 292 00:15:17,200 --> 00:15:18,680 Speaker 3: in Europe, the first thing they want to do is 293 00:15:18,680 --> 00:15:22,200 Speaker 3: buy themselves a car, because it's a huge luxury in 294 00:15:22,240 --> 00:15:26,800 Speaker 3: some of these Western European countries. So because the governments 295 00:15:26,800 --> 00:15:29,040 Speaker 3: there know that if you want to buy a car, 296 00:15:29,120 --> 00:15:32,080 Speaker 3: you must have some buckspal so they I mean, they 297 00:15:32,120 --> 00:15:34,280 Speaker 3: tax the hell out of you, and they tax the hell. 298 00:15:34,120 --> 00:15:36,600 Speaker 1: Out of you on insurance and automobile registration. 299 00:15:38,880 --> 00:15:42,400 Speaker 3: But the individuals in Western Europe, they really want to 300 00:15:42,400 --> 00:15:43,120 Speaker 3: be like Americans. 301 00:15:43,120 --> 00:15:44,080 Speaker 1: They want to drive a car. 302 00:15:44,360 --> 00:15:46,880 Speaker 3: People in Switzerland, Italy, France, they want to be like 303 00:15:46,920 --> 00:15:48,000 Speaker 3: people in California. 304 00:15:48,240 --> 00:15:49,280 Speaker 1: Hop in your car and go. 305 00:15:51,920 --> 00:15:55,960 Speaker 3: I think there's nothing that equals freedom more than the 306 00:15:56,000 --> 00:15:59,760 Speaker 3: ability to hop in your car and go and instead 307 00:15:59,800 --> 00:16:04,760 Speaker 3: of widening the freeways, building more freeways, making the freeways better, 308 00:16:06,880 --> 00:16:10,160 Speaker 3: more lit less, potholes, better maintained. 309 00:16:12,120 --> 00:16:14,560 Speaker 1: Right, if you want to do instead of doing an 310 00:16:14,640 --> 00:16:15,360 Speaker 1: ei R. 311 00:16:15,560 --> 00:16:20,680 Speaker 3: An environmental impact report on the high speed rail going 312 00:16:20,720 --> 00:16:24,880 Speaker 3: through the Central Valley, why don't you study a new 313 00:16:25,120 --> 00:16:32,960 Speaker 3: way to blacktop a freeway, right, or some new product 314 00:16:33,880 --> 00:16:36,800 Speaker 3: for the roads in downtown Los Angeles, Like that should 315 00:16:36,840 --> 00:16:40,680 Speaker 3: be the study. How do we make the motorist in 316 00:16:40,760 --> 00:16:43,720 Speaker 3: Los Angeles more comfortable? How do we make the motorists 317 00:16:43,720 --> 00:16:51,320 Speaker 3: in Los Angeles safer? How do we move cars more quickly? Again, 318 00:16:51,440 --> 00:16:54,320 Speaker 3: that's for the limited years. I believe that we will 319 00:16:54,320 --> 00:16:57,800 Speaker 3: be driving our cars. I really think that the big 320 00:16:57,840 --> 00:17:00,840 Speaker 3: thing that's going to come that will change everything. And 321 00:17:00,880 --> 00:17:04,360 Speaker 3: I mean this changes everything, and it will have negative 322 00:17:04,359 --> 00:17:07,720 Speaker 3: effects too. But I think the self driving car puts 323 00:17:07,800 --> 00:17:13,639 Speaker 3: to bed the high speed rail forever. It eliminates mass 324 00:17:13,640 --> 00:17:18,000 Speaker 3: transit buses, all that stuff, those little trolleys to go 325 00:17:18,119 --> 00:17:20,639 Speaker 3: from where you park your car to get into LAX. 326 00:17:20,720 --> 00:17:24,240 Speaker 3: Those things will probably still exist. That actually does make sense. 327 00:17:24,280 --> 00:17:26,080 Speaker 3: What they're doing down there at LAX, I think makes 328 00:17:26,080 --> 00:17:27,000 Speaker 3: a little bit more sense. 329 00:17:27,640 --> 00:17:29,560 Speaker 7: But they are going to have to figure. 330 00:17:29,280 --> 00:17:32,520 Speaker 3: Out a way to get self driving cars in and 331 00:17:32,520 --> 00:17:35,240 Speaker 3: out of there more efficiently, or let the self driving 332 00:17:35,240 --> 00:17:36,560 Speaker 3: cars design the roads for us. 333 00:17:37,040 --> 00:17:39,800 Speaker 7: They seem to know a lot more, all. 334 00:17:39,840 --> 00:17:42,320 Speaker 3: Right, when we come back speaking of cars, So, the 335 00:17:42,520 --> 00:17:48,240 Speaker 3: seven year car loan is now a thing. I remember 336 00:17:48,240 --> 00:17:52,520 Speaker 3: when most financial analysts and like personal finance consultants and 337 00:17:52,560 --> 00:17:56,199 Speaker 3: advisors on CNBC and on television telling you to pay 338 00:17:56,240 --> 00:17:58,560 Speaker 3: off your car within three years, don't buy a car 339 00:17:58,640 --> 00:18:00,720 Speaker 3: that you can't pay off in three years, and the 340 00:18:00,760 --> 00:18:04,119 Speaker 3: idea of a five year Carlan forty eight month Carlan, 341 00:18:04,640 --> 00:18:07,040 Speaker 3: they said, was devastating to your ability. 342 00:18:06,680 --> 00:18:08,080 Speaker 7: To save and get ahead. 343 00:18:08,280 --> 00:18:10,440 Speaker 1: Now the seven year car loans a thing. 344 00:18:10,600 --> 00:18:13,800 Speaker 3: The seven year car Loan country culture in car Country, 345 00:18:13,800 --> 00:18:14,359 Speaker 3: Los Angeles. 346 00:18:14,400 --> 00:18:15,280 Speaker 1: We'll talk about it next. 347 00:18:15,480 --> 00:18:19,080 Speaker 3: Lou Penrose in for John Cobelt on KFI AM six forty. 348 00:18:20,040 --> 00:18:24,399 Speaker 5: You're listening to John Cobelt on demand from KFI AM 349 00:18:24,400 --> 00:18:25,320 Speaker 5: six forty. 350 00:18:25,720 --> 00:18:28,920 Speaker 3: The John Cobelt Show. Loup Penrose in for John Cobelt. 351 00:18:28,960 --> 00:18:33,240 Speaker 3: All this week. The high speed rail project now the 352 00:18:33,320 --> 00:18:38,280 Speaker 3: updated date and numbers ninety billion dollars twenty thirty nine, 353 00:18:39,240 --> 00:18:42,919 Speaker 3: and it's not going from La to San Francisco not 354 00:18:43,000 --> 00:18:46,680 Speaker 3: even close now. To put it in perspective, when originally passed, 355 00:18:46,720 --> 00:18:50,040 Speaker 3: it was supposed to cost thirty three billion dollars and 356 00:18:50,080 --> 00:18:52,760 Speaker 3: it would be ready to go from LA to San 357 00:18:52,800 --> 00:18:56,200 Speaker 3: Francisco in twenty twenty five years ago. 358 00:18:57,000 --> 00:18:58,800 Speaker 1: So the prospect does not look good. 359 00:18:59,359 --> 00:19:01,200 Speaker 3: It doesn't look like you're taking the high speed rail 360 00:19:01,359 --> 00:19:02,760 Speaker 3: to San Francisco anytime soon. 361 00:19:03,200 --> 00:19:04,440 Speaker 1: You're gonna have to buy a car. 362 00:19:05,400 --> 00:19:12,320 Speaker 3: New numbers out from Blueberg Bloomberg shows that either cars 363 00:19:12,400 --> 00:19:17,199 Speaker 3: are becoming too expensive or people's salaries are not keeping 364 00:19:17,280 --> 00:19:22,240 Speaker 3: up with inflation. Either way, they are now offering seven 365 00:19:22,320 --> 00:19:24,680 Speaker 3: year loans on a car. 366 00:19:25,480 --> 00:19:27,480 Speaker 1: A seven year car loan. 367 00:19:28,320 --> 00:19:31,080 Speaker 3: Now, the advocate say, it makes monthly payments manageable, but 368 00:19:31,160 --> 00:19:33,560 Speaker 3: it adds thousands of dollars to the total cost of 369 00:19:33,560 --> 00:19:39,560 Speaker 3: your car. So out of I mean just out of 370 00:19:39,600 --> 00:19:42,480 Speaker 3: the gate, I don't recommend you take out a seven 371 00:19:42,560 --> 00:19:46,520 Speaker 3: year car loan. I really don't recommend you take out 372 00:19:46,520 --> 00:19:49,720 Speaker 3: a five year car loan. Your car loan is keeping 373 00:19:49,800 --> 00:19:53,639 Speaker 3: you broke. Your car loan is way too expensive. The 374 00:19:53,720 --> 00:20:00,400 Speaker 3: average car payment on a car loan in Los Angeles today, 375 00:20:01,160 --> 00:20:05,800 Speaker 3: according to the industry experts, is five hundred and twenty 376 00:20:05,840 --> 00:20:09,639 Speaker 3: dollars a month, five hundred and that's average five hundred 377 00:20:09,640 --> 00:20:16,000 Speaker 3: and twenty dollars a month for a five year car loan. 378 00:20:16,280 --> 00:20:20,840 Speaker 3: That's too expensive. That's way too expensive. I don't know 379 00:20:20,880 --> 00:20:25,439 Speaker 3: how much you make, but you can't afford that. I mean, 380 00:20:25,480 --> 00:20:26,040 Speaker 3: I'm not going to. 381 00:20:26,080 --> 00:20:32,320 Speaker 1: Go through the whole Susie Ormy. You know, rich dad, 382 00:20:32,400 --> 00:20:35,200 Speaker 1: poor dad, millionaire next door. 383 00:20:37,680 --> 00:20:37,880 Speaker 4: Right. 384 00:20:38,119 --> 00:20:42,080 Speaker 3: All these financial gurus out there who are all correct, 385 00:20:42,160 --> 00:20:45,800 Speaker 3: and you who don't follow them are wrong. But if 386 00:20:45,800 --> 00:20:50,720 Speaker 3: you had five hundred and twenty dollars a month extra 387 00:20:51,400 --> 00:20:54,160 Speaker 3: and you invested it over the years that you drove 388 00:20:54,200 --> 00:20:57,680 Speaker 3: a car to work, like from the ages of twenty 389 00:20:57,720 --> 00:21:01,919 Speaker 3: five to fifty five, you'd be looking at something along 390 00:21:01,960 --> 00:21:04,479 Speaker 3: the lines of you invested it in like an index 391 00:21:04,520 --> 00:21:09,639 Speaker 3: fund stock like stocks, you're looking at like four point 392 00:21:09,720 --> 00:21:15,280 Speaker 3: one million dollars. So you could if you could afford 393 00:21:16,040 --> 00:21:19,320 Speaker 3: a five hundred and twenty dollars a month average car payment, 394 00:21:20,520 --> 00:21:24,320 Speaker 3: then you could be a millionaire at the age of 395 00:21:24,320 --> 00:21:27,199 Speaker 3: fifty five in exchange. So I hope you like the 396 00:21:27,200 --> 00:21:29,840 Speaker 3: new car smell, but it just it doesn't make out 397 00:21:29,880 --> 00:21:34,520 Speaker 3: financial sense to finance a car over seven years. But 398 00:21:34,640 --> 00:21:37,359 Speaker 3: now more and more people are doing it, and they're 399 00:21:37,359 --> 00:21:41,119 Speaker 3: just factoring it in to their to their monthly life. 400 00:21:41,160 --> 00:21:44,840 Speaker 3: So a couple of things that's bad financial planning. You 401 00:21:44,880 --> 00:21:46,399 Speaker 3: can do that if you want. There's a lot of 402 00:21:46,400 --> 00:21:50,120 Speaker 3: bad financial planning that goes on out there. People finance boats, 403 00:21:51,359 --> 00:21:55,160 Speaker 3: they finance cars, they finance a lot of things. 404 00:21:55,160 --> 00:21:56,160 Speaker 1: You can do whatever you want. 405 00:21:56,600 --> 00:21:59,600 Speaker 3: There's plenty of resources out there to tell you what 406 00:21:59,600 --> 00:22:01,720 Speaker 3: you're doing is wrong and make the case for it, 407 00:22:01,760 --> 00:22:05,720 Speaker 3: and then you can choose to live a financially thoughtful 408 00:22:05,720 --> 00:22:08,080 Speaker 3: life or a financially foolish life. 409 00:22:08,400 --> 00:22:11,640 Speaker 1: But it's not just foolishness in finance. 410 00:22:13,040 --> 00:22:16,440 Speaker 3: There is an argument to be made that salaries have 411 00:22:16,560 --> 00:22:20,080 Speaker 3: just not kept up. I mean I see this all 412 00:22:20,119 --> 00:22:24,400 Speaker 3: the time in real estate in southern California. 413 00:22:25,800 --> 00:22:27,360 Speaker 1: And I'm not a real estate expert. 414 00:22:27,920 --> 00:22:31,480 Speaker 3: I did work for a lobbying firm that advocated on 415 00:22:31,560 --> 00:22:34,720 Speaker 3: behalf of multi family housing, so I know a thing 416 00:22:34,800 --> 00:22:37,760 Speaker 3: or two about the real estate market. And I mean, 417 00:22:37,800 --> 00:22:40,240 Speaker 3: you can't swing a dead cat in Los Angeles County 418 00:22:40,280 --> 00:22:41,280 Speaker 3: without hitting a realtor. 419 00:22:41,680 --> 00:22:44,680 Speaker 1: So I know a lot of people in that business 420 00:22:45,119 --> 00:22:46,199 Speaker 1: and just you. 421 00:22:46,200 --> 00:22:48,800 Speaker 3: Know, thoughtful conversation because people talk about the affordability of 422 00:22:48,840 --> 00:22:52,159 Speaker 3: Southern California all the time, and how expensive the housing 423 00:22:52,200 --> 00:22:54,960 Speaker 3: market is and how expensive it is. And I know 424 00:22:55,119 --> 00:22:58,679 Speaker 3: people that are young and they're looking for houses to 425 00:22:58,920 --> 00:23:04,160 Speaker 3: live in areas of San Diego, Oceanside, Orange County, areas 426 00:23:04,280 --> 00:23:09,080 Speaker 3: like to Leega in San Clemente, Mission Viejo and Orange County. 427 00:23:09,119 --> 00:23:11,560 Speaker 3: And then you get into like areas near your Belinda 428 00:23:11,560 --> 00:23:14,520 Speaker 3: and Diamond Bard. People trying to not have to drive 429 00:23:14,840 --> 00:23:18,679 Speaker 3: out to Corona every day of their lives to be 430 00:23:18,760 --> 00:23:22,760 Speaker 3: able to work in North Orange County, Buena Park, Anaheim, 431 00:23:24,080 --> 00:23:26,639 Speaker 3: and they just find themselves spending their lives on the 432 00:23:26,720 --> 00:23:33,600 Speaker 3: road in traffic because there's no rail, burning fuel in 433 00:23:33,640 --> 00:23:35,960 Speaker 3: a car that's costing them five hundred and twenty dollars 434 00:23:36,000 --> 00:23:40,920 Speaker 3: a month to drive. So the numbers on this are 435 00:23:41,080 --> 00:23:43,400 Speaker 3: pretty interesting and they're pretty striking. 436 00:23:44,119 --> 00:23:50,480 Speaker 1: Now follow me on this. In nineteen eighty, the average salary. 437 00:23:51,480 --> 00:23:54,840 Speaker 3: In Los Angeles was about twenty thousand dollars a year. 438 00:23:56,880 --> 00:24:00,840 Speaker 3: The average starter home in Los Angeles in nineteen eighty 439 00:24:01,680 --> 00:24:04,520 Speaker 3: about sixty thousand dollars a year. It's actually scot it's 440 00:24:04,600 --> 00:24:06,560 Speaker 3: more like seventy two. Its skewed up because of some 441 00:24:06,720 --> 00:24:10,720 Speaker 3: areas along the coast. But for the purposes of my math, 442 00:24:10,800 --> 00:24:13,679 Speaker 3: let's just do the twenty and sixty thing. So average 443 00:24:13,680 --> 00:24:17,000 Speaker 3: salary twenty thousand dollars a year, average first home, two 444 00:24:17,000 --> 00:24:21,160 Speaker 3: bedroom to bath, small yard, sixty thousand dollars a year. 445 00:24:21,960 --> 00:24:22,680 Speaker 1: Three times. 446 00:24:23,160 --> 00:24:26,720 Speaker 3: Now that's you know, hard to get a sixty thousand 447 00:24:26,720 --> 00:24:28,760 Speaker 3: dollars house on a twenty thousand dollars salary. 448 00:24:28,760 --> 00:24:31,160 Speaker 1: But you could do it. What do you mean could? 449 00:24:31,320 --> 00:24:34,479 Speaker 1: People did it? Our parents did it. People did it. 450 00:24:34,760 --> 00:24:35,240 Speaker 1: They saved. 451 00:24:35,320 --> 00:24:37,200 Speaker 3: There was a thing called saving for a house. There 452 00:24:37,200 --> 00:24:39,600 Speaker 3: are people who put off going on vacation because they 453 00:24:39,640 --> 00:24:41,520 Speaker 3: were saving for a house. Oh and so and so 454 00:24:41,640 --> 00:24:43,480 Speaker 3: going to be out the lake this this summer, and 455 00:24:43,480 --> 00:24:45,439 Speaker 3: no o, they're saving for a house. People used to 456 00:24:45,440 --> 00:24:48,439 Speaker 3: actually save for a house, and they would save a 457 00:24:48,480 --> 00:24:49,880 Speaker 3: down payment for a house. 458 00:24:49,640 --> 00:24:52,440 Speaker 1: Which you could do if you were really focused. 459 00:24:52,920 --> 00:24:55,200 Speaker 3: You could save a down payment on a sixty thousand 460 00:24:55,240 --> 00:24:58,600 Speaker 3: dollars house and calculate the house payments and if you 461 00:24:58,600 --> 00:25:00,520 Speaker 3: save a little more, the house payments will be less. 462 00:25:00,800 --> 00:25:03,040 Speaker 3: And the expectation is you weren't gonna be making twenty 463 00:25:03,040 --> 00:25:03,760 Speaker 3: thousand dollars. 464 00:25:03,600 --> 00:25:06,960 Speaker 1: Your whole life. Your salary would. 465 00:25:06,720 --> 00:25:11,000 Speaker 3: Go up, and people did it, and they did it 466 00:25:11,080 --> 00:25:15,399 Speaker 3: all across southern California. Now fast forward forty five years, 467 00:25:16,520 --> 00:25:20,720 Speaker 3: Like the average salary is sixty to seventy thousand dollars, 468 00:25:20,800 --> 00:25:22,760 Speaker 3: But let's stick with the sixty thousand dollars number just 469 00:25:22,760 --> 00:25:26,520 Speaker 3: for the purposes of my math. Sixty thousand dollars three 470 00:25:26,600 --> 00:25:33,560 Speaker 3: times as much the average starter home nine hundred thousand dollars. 471 00:25:36,000 --> 00:25:40,520 Speaker 3: There's no way, no chance you could save it. And 472 00:25:40,560 --> 00:25:43,520 Speaker 3: now they want twenty percent down. There's no way you're 473 00:25:43,520 --> 00:25:47,080 Speaker 3: gonna save a down payment on a nine hundred thousand 474 00:25:47,080 --> 00:25:50,360 Speaker 3: dollars house making sixty thousand dollars a year. I would argue, 475 00:25:50,400 --> 00:25:52,960 Speaker 3: if both you and your wife both made sixty thousand 476 00:25:52,960 --> 00:25:55,359 Speaker 3: dollars a year, you are you're not gonna save a 477 00:25:55,440 --> 00:25:56,040 Speaker 3: down payment. 478 00:25:56,080 --> 00:25:58,200 Speaker 1: Making bringing in one hundred and twenty thousand. 479 00:25:57,920 --> 00:25:58,480 Speaker 7: Dollars a year. 480 00:25:59,280 --> 00:26:04,760 Speaker 3: I don't n one hundred thousand dollars house. So yeah, 481 00:26:04,840 --> 00:26:06,800 Speaker 3: things have gone up in value. Everything is going to 482 00:26:06,960 --> 00:26:12,720 Speaker 3: except for our salaries. So that little factor, I think 483 00:26:13,320 --> 00:26:16,080 Speaker 3: is something that we if we're gonna have like a 484 00:26:16,119 --> 00:26:19,959 Speaker 3: political bitch, that is that's it's one that is a 485 00:26:20,000 --> 00:26:24,400 Speaker 3: nonpartisan that is that all Republicans, Democrats and independents can 486 00:26:24,440 --> 00:26:28,280 Speaker 3: agree upon. I think that our wages having kept up 487 00:26:28,359 --> 00:26:32,720 Speaker 3: with our life compared to the past. Lou Penrose info 488 00:26:32,760 --> 00:26:35,800 Speaker 3: John Cobelt on The John Cobelt Show on KFI AM 489 00:26:35,840 --> 00:26:36,399 Speaker 3: six forty. 490 00:26:37,240 --> 00:26:41,560 Speaker 5: You're listening to John Cobelt on demand from KFI AM 491 00:26:41,560 --> 00:26:42,399 Speaker 5: six forty. 492 00:26:42,920 --> 00:26:44,120 Speaker 1: The John Cobalt Show. 493 00:26:44,320 --> 00:26:48,360 Speaker 3: Lou Penrose Info John coblt This week coming up following 494 00:26:48,359 --> 00:26:50,720 Speaker 3: the News at three, doctor Wendy Walsh. 495 00:26:50,400 --> 00:26:51,160 Speaker 1: Will join us. 496 00:26:51,200 --> 00:26:56,840 Speaker 3: Because everybody is talking about the decision Travis Kelce to 497 00:26:56,840 --> 00:27:01,800 Speaker 3: propose to Taylor Swift and apparently she said yes, and 498 00:27:02,880 --> 00:27:07,480 Speaker 3: my goodness, everybody stopped talking. Everybody at the White House 499 00:27:07,520 --> 00:27:13,280 Speaker 3: stopped talking. The White House was having a press conference. 500 00:27:13,280 --> 00:27:15,119 Speaker 3: President Trump was talking about all kinds of things. They 501 00:27:15,119 --> 00:27:17,080 Speaker 3: had to interrupt him and say, hey, we got to 502 00:27:17,080 --> 00:27:19,440 Speaker 3: get your reaction to the really big story. 503 00:27:19,880 --> 00:27:21,120 Speaker 7: Well, I wish him a lot of love. 504 00:27:22,880 --> 00:27:26,640 Speaker 1: Yeah, I think it's I think he said a great player. 505 00:27:26,800 --> 00:27:29,199 Speaker 3: I think he's a great guy, and I think that 506 00:27:29,280 --> 00:27:30,520 Speaker 3: she's a terrific person. 507 00:27:30,600 --> 00:27:31,760 Speaker 7: So I wish him a lot of love. 508 00:27:32,800 --> 00:27:35,200 Speaker 3: The reaction on CNN, I think was my favorite. They 509 00:27:35,240 --> 00:27:39,320 Speaker 3: broke out into songs so colossal, breaking yours into CNN. 510 00:27:39,880 --> 00:27:41,520 Speaker 1: It's a love story. 511 00:27:41,160 --> 00:27:45,000 Speaker 3: And baby, she just said yes, pop. 512 00:27:44,720 --> 00:27:47,479 Speaker 2: Eye con Taylor Swift and her football star boyfriend Travis 513 00:27:47,520 --> 00:27:49,280 Speaker 2: Kelsey are engaged. 514 00:27:49,320 --> 00:27:52,080 Speaker 1: Oh my goodness. How about that? 515 00:27:52,480 --> 00:27:56,280 Speaker 3: Well two years after they started dating, so following the 516 00:27:56,359 --> 00:27:59,320 Speaker 3: rules there of close. 517 00:27:59,080 --> 00:28:01,119 Speaker 1: To eighteen months the need to be a ring and 518 00:28:01,160 --> 00:28:01,520 Speaker 1: a date. 519 00:28:01,600 --> 00:28:05,320 Speaker 3: Fox News broke briefly away from their continuing coverage of 520 00:28:05,400 --> 00:28:09,200 Speaker 3: the Trump Cabinet meeting to report that Taylor Swift was engaged. 521 00:28:09,440 --> 00:28:15,280 Speaker 1: Travis Kelsey's also engaged. It's interesting who leads usually. 522 00:28:17,160 --> 00:28:19,320 Speaker 7: Right, it's they're engaged. 523 00:28:22,000 --> 00:28:24,960 Speaker 3: I mean, I guess that tells you that they think 524 00:28:25,000 --> 00:28:31,760 Speaker 3: Taylor Swift is the bigger name. Eighteen carrot diamond set 525 00:28:31,920 --> 00:28:35,600 Speaker 3: in a yellow gold setting, kind of an emerald cut setting. 526 00:28:36,200 --> 00:28:38,880 Speaker 3: They estimate the value of the ring at five hundred 527 00:28:38,880 --> 00:28:43,280 Speaker 3: and fifty thousand dollars. The Ralph Lauren dress that she's 528 00:28:43,360 --> 00:28:48,719 Speaker 3: wearing in the Instagram photo retails for four hundred dollars 529 00:28:48,800 --> 00:28:53,800 Speaker 3: and is sold out. Everybody wants to have that dress. 530 00:28:54,880 --> 00:28:56,920 Speaker 3: I don't know where the photo was taken. A lot 531 00:28:56,920 --> 00:29:01,560 Speaker 3: of flowers, but everybody's excited about Travis Kelsey and Taylor Swift. Hey, look, 532 00:29:01,640 --> 00:29:04,840 Speaker 3: I think this is great. I think these two are 533 00:29:04,880 --> 00:29:07,400 Speaker 3: a fit. They look good together. I don't know them. 534 00:29:07,640 --> 00:29:11,160 Speaker 3: It's interesting that so many are so happy for them 535 00:29:11,560 --> 00:29:13,640 Speaker 3: and none of us know who they are. Well, we've 536 00:29:13,680 --> 00:29:19,040 Speaker 3: not heard from Donna kelce We've not heard from Jason Kelcey. 537 00:29:19,120 --> 00:29:21,240 Speaker 1: We've not heard from any of the Swift family. 538 00:29:21,280 --> 00:29:24,400 Speaker 3: You would think we would wait before we got excited 539 00:29:24,520 --> 00:29:27,720 Speaker 3: for them. We'd wait to find out if their families are. 540 00:29:27,640 --> 00:29:28,520 Speaker 7: Excited for them. 541 00:29:29,200 --> 00:29:33,920 Speaker 3: I suspect they are all very happy, but it The 542 00:29:34,000 --> 00:29:38,880 Speaker 3: reaction has been nothing short of spectacular in both the 543 00:29:38,880 --> 00:29:43,520 Speaker 3: world of pop culture and sports. I mean, they broke 544 00:29:43,560 --> 00:29:46,960 Speaker 3: in live on ESPN two, So this crosses a lot 545 00:29:47,200 --> 00:29:51,800 Speaker 3: of platforms. Big, big, big, big story, and I think 546 00:29:51,800 --> 00:29:52,720 Speaker 3: it's great. 547 00:29:52,960 --> 00:29:54,600 Speaker 1: The day. 548 00:29:56,600 --> 00:29:58,400 Speaker 7: Is the same day that a study. 549 00:29:58,080 --> 00:30:02,400 Speaker 3: Came out US Census Bureau reports that by the year 550 00:30:02,440 --> 00:30:06,640 Speaker 3: twenty thirty, half of US women between the ages of 551 00:30:06,680 --> 00:30:09,479 Speaker 3: twenty five and forty four will be single. 552 00:30:11,320 --> 00:30:12,560 Speaker 1: And that's a milestone. 553 00:30:14,000 --> 00:30:16,840 Speaker 3: And so that study came out earlier this morning, and 554 00:30:16,880 --> 00:30:21,600 Speaker 3: then sometime midday today, the announcement that Travis Kelcey and 555 00:30:21,640 --> 00:30:23,920 Speaker 3: Taylor Swift were engaged to be married. 556 00:30:24,160 --> 00:30:28,360 Speaker 1: Now they're both thirty five. She turns thirty six in December. 557 00:30:28,520 --> 00:30:32,040 Speaker 3: He turns thirty six in October, so they're very close 558 00:30:32,040 --> 00:30:39,400 Speaker 3: in age but both thirty five, and this could signal 559 00:30:39,600 --> 00:30:45,000 Speaker 3: a cultural change among young women to decide to actually 560 00:30:45,040 --> 00:30:48,800 Speaker 3: be more like Taylor and be married. So we'll talk 561 00:30:48,840 --> 00:30:51,440 Speaker 3: with doctor Wendy Walsh about that. I have so many 562 00:30:51,480 --> 00:30:53,520 Speaker 3: questions for doctor Wendy Walsh on this one. 563 00:30:53,920 --> 00:30:56,560 Speaker 1: Why this one is so big for us? 564 00:30:56,720 --> 00:30:57,040 Speaker 4: I get it. 565 00:30:57,160 --> 00:30:59,720 Speaker 1: Royal weddings are big because money is no object. 566 00:31:00,000 --> 00:31:01,720 Speaker 3: So you want to see what a money is no 567 00:31:01,800 --> 00:31:05,160 Speaker 3: object kind of wedding would look like, and royal weddings 568 00:31:05,360 --> 00:31:08,800 Speaker 3: fit that bill. I guess in America this is the 569 00:31:08,800 --> 00:31:12,640 Speaker 3: equivalent of a royal wedding, So we'll see. 570 00:31:12,800 --> 00:31:19,959 Speaker 1: I would argue you could sell pay per view and 571 00:31:20,080 --> 00:31:22,480 Speaker 1: watch this wedding and make more money than any single thing. 572 00:31:24,040 --> 00:31:28,840 Speaker 3: It's reportedly going to be Kelsey's last year for the 573 00:31:28,920 --> 00:31:31,960 Speaker 3: Kansas City Chiefs, so that would be let's see twelve seasons, 574 00:31:33,080 --> 00:31:36,520 Speaker 3: and this is her twelfth studio album, so they had 575 00:31:36,560 --> 00:31:39,920 Speaker 3: that going on. They look very happy. A lot of 576 00:31:39,920 --> 00:31:44,720 Speaker 3: people are panning the announcement. They say that it's it 577 00:31:45,840 --> 00:31:48,280 Speaker 3: wasn't as glamorous as it should be because they're just 578 00:31:48,360 --> 00:31:50,800 Speaker 3: in regular clothes. He's in white pants with a blue 579 00:31:50,840 --> 00:31:54,400 Speaker 3: golf shirt and she's in a four hundred dollar Ralph 580 00:31:54,440 --> 00:31:55,040 Speaker 3: Lauren dress. 581 00:31:55,200 --> 00:31:55,680 Speaker 4: Not so. 582 00:31:57,440 --> 00:31:59,960 Speaker 3: Casual, but I guess if your tailor swift, that's just 583 00:32:00,000 --> 00:32:04,520 Speaker 3: it's an ordinary day to dress up a big flower display. 584 00:32:05,520 --> 00:32:06,360 Speaker 7: But they both look. 585 00:32:06,200 --> 00:32:09,760 Speaker 3: Pretty happy, and this could mark a trend because they 586 00:32:09,760 --> 00:32:12,440 Speaker 3: all do what Taylor does. So if the Swifties all 587 00:32:12,480 --> 00:32:15,840 Speaker 3: want to do everything Taylor does now, maybe they'll reconsider marriage. 588 00:32:15,840 --> 00:32:19,000 Speaker 3: Since the trend was going in the opposite direction, young 589 00:32:19,040 --> 00:32:21,440 Speaker 3: women or women between the ages of twenty five and 590 00:32:21,480 --> 00:32:24,560 Speaker 3: forty four all leaning toward not the at least half 591 00:32:24,560 --> 00:32:28,280 Speaker 3: of them by twenty thirty would not be married and 592 00:32:28,320 --> 00:32:29,440 Speaker 3: not looking to get married. 593 00:32:29,840 --> 00:32:33,080 Speaker 7: So this could change course. And also it is. 594 00:32:33,200 --> 00:32:37,680 Speaker 3: Nice that now Taylor can write songs about being married 595 00:32:38,760 --> 00:32:39,760 Speaker 3: and have that. 596 00:32:39,760 --> 00:32:40,920 Speaker 1: That's been her whole thing. 597 00:32:41,160 --> 00:32:43,480 Speaker 3: The reason that she's so popular and the reason the 598 00:32:43,520 --> 00:32:47,040 Speaker 3: Aras tours were so good for her was because people 599 00:32:47,320 --> 00:32:48,080 Speaker 3: grew up. 600 00:32:47,920 --> 00:32:49,760 Speaker 7: With her songs. 601 00:32:50,520 --> 00:32:54,280 Speaker 3: And I mean, I'm not a Swiftie, but I understand 602 00:32:54,480 --> 00:33:00,280 Speaker 3: music being relatable. We've all had bands that write songs 603 00:33:00,280 --> 00:33:03,280 Speaker 3: where their lyrics lyrics fit our lives, and for so 604 00:33:03,400 --> 00:33:06,680 Speaker 3: many young people in America, men and women, these these 605 00:33:06,680 --> 00:33:07,760 Speaker 3: songs spoke to them. 606 00:33:07,800 --> 00:33:08,440 Speaker 1: So good for her. 607 00:33:09,720 --> 00:33:13,040 Speaker 3: And the aristour was a revisiting of those years, so 608 00:33:13,080 --> 00:33:15,960 Speaker 3: it was a bit nostalgic. And now she's into a 609 00:33:16,000 --> 00:33:19,600 Speaker 3: whole new chapter of her life, and I suspect she 610 00:33:19,680 --> 00:33:26,360 Speaker 3: will maintain that ability to communicate her thoughts and all 611 00:33:26,400 --> 00:33:28,560 Speaker 3: her experiences in song. 612 00:33:29,040 --> 00:33:30,320 Speaker 7: So that'll be interesting to see. 613 00:33:30,960 --> 00:33:32,720 Speaker 3: We'll know more about what's going on in that house 614 00:33:32,760 --> 00:33:34,760 Speaker 3: than we would if we if they did a podcast. 615 00:33:35,320 --> 00:33:37,920 Speaker 3: Lou Penrose if of John Coblt on The John Coblt 616 00:33:38,000 --> 00:33:41,280 Speaker 3: Show on KFI AM six forty live everywhere on the 617 00:33:41,280 --> 00:33:42,200 Speaker 3: iHeartRadio app. 618 00:33:42,240 --> 00:33:45,120 Speaker 2: Hey, you've been listening to the John Cobalt Show podcast. 619 00:33:45,200 --> 00:33:47,680 Speaker 2: You can always hear the show live on KFI AM 620 00:33:47,720 --> 00:33:50,719 Speaker 2: six forty from one to four pm every Monday through Friday, 621 00:33:50,720 --> 00:33:54,000 Speaker 2: and of course anytime on demand on the iHeartRadio app.