October 29, 2025 • 45 mins
Kevin covers the following stories: an update on Hurricane Melissa; are tariffs to blame for higher coffee prices?; the National Association of Realtors reported September existing home sales; President Trump offers a plan to lower beef prices; cattlemen look for a long-term solution for beef supply; U.S., and China trade deal is drawing closer; U.S. - Canada trade deal talks terminated "Reagan ad", sighted as one of the reasons; Kevin has the details, digs into the data, puts the information into historical perspective, offers his insights and opinions.
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Speaker 1 (00:05):
This is America's Trucking Network with Kevin Gordon.
Speaker 2 (00:10):
Ware.
Speaker 3 (00:11):
Thanks for tuning in on this Wednesday morning.
Speaker 4 (00:13):
Got to start off with a update on Hurricane Melissa.
If the eye has approached and is on Jamaica and
it's a slow moving storm, and our hearts and prayers
go out to the folks of Jamaica because this is
a Category five hurricane, one of the strongest ones on record.
(00:34):
And I, you know, I guess my geography is off,
and I'm not all that aware or familiar with Jamaica.
You know, you think in terms of all these commercials
you see for those resort areas, and all they ever
do is focus on the beaches and so on, and
you just think, okay, that's pretty much it. But the
the pictures and the stuff that I was seeing in
(00:57):
terms of how Jamaica is built, there's an awful lot
of hills there. And the one guy was talking about that,
and I don't know if it's continuing to go on,
but they said that Jamaica is basically a confluence of
all these I guess plates in terms of the you know,
(01:18):
the shifting of the of the land, and that these
plates are pushing together and pushing the island actually higher
out of the ocean, and a lot of these buildings
are built on these hillsides, and with these steep hillsides,
with the mount of rain that they're going to be getting,
(01:38):
the amount of flow, I mean, you not only have
the surge of the of the hurricane coming in off
the water, but then you've got the foot of rain,
two feet of rain, et cetera, hitting these mountains and
then coming down and flowing into the cities, and it
is just going to be an absolute mess. So again,
our hearts and prayers are going out to those people.
(02:00):
I was not aware of how high and how hilly
that area of Jamaica is. All I've ever seen is
pictures of the beaches and so on. Now, of course,
once the hurricane Melissa is finished with them, moves on
to Dominican Republic and then across the way and then
goes into hopefully going to just hit the southeastern portion
(02:24):
of Cuba, but that is the area where Quantanamo Bay is,
and then they're talking about where it moves on from
there on to the Bahamas. But again, the trajectory of
this storm looks like it's going to be heading northeast
away from this area, and depending upon how it turns
and what it turns and where it turns, hopefully it'll
(02:45):
miss part of the Bahamas and hopefully maybe just nick
the ends of Cuba. But of course we'll keep our
eye on that particular storm. It is just they were
telling you about that this hurricane season. Now, we have
not seen a direct landfall in the United States. This
hurricane season began June first and ends November thirtieth, knock
(03:08):
on wood that we won't have a direct hit. But
we have had some storm surges as a result of
some of these passing storms hitting the outer banks there
around Cape Hatteras and whatever, North Carolina, and I think
there were about twelve houses that are on stilts and
whatever because of the storm surge actually got destroyed. But
(03:29):
for the most part we have escaped. But they said
that this is one of the most active. The record
number of five category five hurricanes that have been in
the Atlantic Ocean the record this is going to be
the well so far going to be the second highest
at three hurricanes that are category five.
Speaker 3 (03:49):
Now the other two pretty much stayed out.
Speaker 4 (03:52):
In the middle of the ocean and then veered off,
so you know, I don't care how many Category five
hurricanes there are out in the ocean that never make landfall.
I mean, they're going to have ten out there for
all I care, just as long as it doesn't hit
the land. But apparently back in two thousand and five
there were actually four storms that got up to a
category five, so they still got about a little about
(04:14):
a month and a half left, a little over a
month and a couple of weeks anyway till the end
of the hurricane season, and hopefully we won't have any
more category five hurricanes, or if we're going to have them,
stay the hell off the you know, out in the ocean,
and so on. We talked yesterday about food prices and
talked about inflation, and the thing that kept catching my
(04:35):
eye just I am not downplaying the fact that there
is some inflation. Okay, when you're looking at hot prices
going up about two percent two and a half percent
on a yearly basis, that adds up over time. But
when you look at the way the spoon fed regurgitators
in the mainstream media are characterizing this, this is the
(04:55):
kind of talk, This is the kind of expectations I
would have seen from the spoon fed regurgitators. Back in
twenty twenty one and twenty twenty two, when we were
having four and a half five and a half percent,
we had one month where there was nine and a
half percent increase in inflation in the month of June
of twenty twenty two. We saw gas prices in twenty
(05:19):
twenty two getting as high as a national average across
the board. Now in California it was a lot higher, obviously,
but across the board, the average gas price in the
United States was at five dollars a gallon. The average
price now is around three h three to three h four.
I think what's the number three? Yeah, three oh four,
(05:39):
And so prices have come down considerably from there, and
yet everybody wants to talk about, oh, fuel prices were
up four point one percent, whereas I'm looking at numbers
from last month and gas prices a month ago, we're
at three thirteen and we're down nine cents almost ten
cents a gallon from that. So where they're coming up
with these numbers and every time they do one of
(06:01):
these analysis, I think the Wall Street Journal, or was
that the New York Times did an analysis a couple
of couple of months ago, and they were saying, well,
just take a focus on in New York at the
Walmart center there, and there are some prices that have
gone up fifty two percent. And pulling out that numbers,
(06:24):
digging through the details and stuff, what we found or
what I just looked at in terms of that was
that this was a item imported from China. It was
a pot and pan set from Drew Barrymore called Beautiful
or whatever it was. That it went from ninety nine
(06:45):
dollars up to one hundred and forty nine dollars. And
this was an item imported from China. This isn't the
best cookware available. There aren't other alternatives, not like there's
not other alternatives out there. And if they want want
to raise those prices, if the Chinese labor there, and
we talked about at the time, how.
Speaker 3 (07:06):
The labor over there is so cheap that.
Speaker 4 (07:08):
They're only paying something along the lines of between five
dollars and seven dollars an hour, whereas in the United
States we're paying thirty six thirty seven dollars an hour
and including benefits and so on. But that five dollars
and seven dollars over in China includes no benefits, no
vacation time, no workers, got none of this stuff. And
(07:28):
yet our employers over here are paying thirty seven dollars
on average for employees in terms of benefits and everything else.
Speaker 3 (07:36):
Now that's across the board.
Speaker 4 (07:38):
And so with that kind of a margin, the Chinese
companies that are manufacturing these items, they could absorb some
of these tariffs the importer. The exporter could absorb some
of it the import. And we've gone through this scenario.
So it was a basically the bottom line is a
BS argument. BS article that was just trying to stir
(07:59):
the pot. And I keep saying that if I keep
looking at these stories from the spoon feder regurgitators in
the mainstream media, and it appears as though that they
are trying to talk down the economy, talk down what's
going on as far as economic policy is concerned, and
they are trying to manufacture recession, and they are failing
miserably because things are humming along. We see that as
(08:22):
far as the unemployment rate, we see that as numbers
of the jobs created, although it's flat, there aren't very
many layoffs, and we see the unemployment numbers where those
aren't increasing dramatically, and when you see two percent increase
in prices and stuff like that across the board, it's
pretty much on average of what they were talking about before.
(08:43):
And we'll get into a lot of this because we
want to talk a little bit more about it. But
the one thing that popped out it seems like when
they're talking about food prices, all they were, you know,
at the beginning of the year, all it was was eggs, eggs, eggs,
eggs are up forty two percent. Fit Trump's not bringing
those is down. Well, now that those prices are down
compared to last year, all of a sudden, well they've
(09:05):
got to shift categories and talk about coffee and beef.
Speaker 3 (09:08):
We'll pick this up.
Speaker 4 (09:09):
I'm Kevin Gordon, America's Trucking Network, seven hundred WLW.
Speaker 5 (09:14):
I do.
Speaker 1 (09:14):
This is the briefing repord on America's Trucking Network on
seven hundred WLW.
Speaker 6 (09:20):
NASCAR holds its Championship weekend in Phoenix. The Truck Champ
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Speaker 7 (09:41):
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I'm Kevin Gordon, America's Trucking Network seven hundred WLW. We're
talking about inflation numbers and when they put out these
items and they say, okay, we've got the inflation number,
and then we've got the core inflation number and the
core inflation number. What that does is it pulls out
the more volatile items in the inflation category or the
(12:12):
stuff that is bought on.
Speaker 3 (12:13):
A regular basis.
Speaker 4 (12:15):
And generally the two big categories there are food and
energy because depending upon the year, depending you know, the
time of the year, you've gotten the springtime, certain fruits, vegetables,
et cetera that are readily available in the fall, and
so on, so those prices will fluctuate. Energy itself fluctuates
depending upon geopolitical issues, what's going on in terms of
(12:36):
the sector, whether there's different refineries that are closing down
or shutting down for maintenance, imports, storms on the seat,
so all that's volatile. So they pull that out and
say okay, put those off to the side, and then
look at the other core items in the as far
as inflation is concerned.
Speaker 3 (12:54):
When you add that back and they're talking.
Speaker 4 (12:56):
About the biggest driver of inflation this past was in
the food area, and they concentrate on two items. They
concentrated on coffee and beef. Well, it's almost like you
have to pull those items off to the side as
well to get a full idea or you know, because
of the volatility in those areas, to see what the
(13:19):
actual food prices are.
Speaker 3 (13:20):
And I just got curious.
Speaker 4 (13:21):
I thought, well, you know, they keep talking about tariffs
adding to coffee prices. They keep talking about this, Well,
what else is adding to the coffee prices? So I
dug into it a little bit. We here in the
United States, between Hawaii and uh, what was it, Puerto Rico,
we only generate about one percent of the amount of
coffee that is consumed in the United States.
Speaker 3 (13:43):
The rest of it has to be imported.
Speaker 4 (13:45):
So already we've got a situation where that stuff has
to travel. But where you have a situation down in
Brazil and Columbia, and you have these southern South American
countries that produce the majority of the coffee. Now there's
somehow that comes out of Vietnam and the southeast and
so on. But the majority of the stuff that we
(14:07):
drink here in the United States is from South America,
and when you have a drought situation down there, that
means their crops aren't producing as much, so there's not
as much supply. And when you know, obviously, you know
that when there's smaller supply and the demand is the same,
the prices are going to go up. And yes, the
(14:27):
tariffs have added to that to a certain percentage. But
when you take into consideration the costs we've documented here
on the program. We had the contracts that were signed
by the West Coast and East Coast dock workers bringing
those goods in, that's going to add to the product.
(14:48):
Plus you have fuel prices and stuff being transported. Plus
you have the drought down there in South America in
these coffee bean areas, and that's adding to it. So
break picking those out the amount of tariffs that are
added to this. Now they keep saying that coffee prices
are up. Okay, they're saying coffee prices are up from
(15:08):
last year by nineteen percent. Now they're saying also that
the tariffs on these on coffee is somewhere in the
neighborhood on certain countries about forty percent. So if coffee
prices are going up only nineteen percent. One of the
things is is that I've talked about, and we've talked
about on this program a number of times that because
(15:29):
of the production costs, because of the availability, the big
margins in some of these areas, some of these people
are some of these companies are actually absorbing these increases.
As far as tariffs, now, there's been some movement because
there is a program that if you've got rare things
that are not actually available in the United States and
(15:49):
they have to be imported, they can be exempted from
any tariffs on that particular country and those can be eliminated.
There's a push now to eliminate the tariffs on coffee,
which would be good. But in the story that I read,
they talk about this. Nicky Bravo, the cow co owner
of Momentum Coffee in Chicago, raised her prices by fifteen
(16:12):
percent recently as to her coffee prices, and she talks
about how, you know, she's paying fifteen percent more for
the coffee coming into the country and coming into her business,
but she's also roasting some of her own beans to
try to offset that then you've got the added increase
(16:33):
in terms of the sleeves, the cups, and all the
different supplies that's got to be added into it. Plus
the fact that she has her operation of her stores
in Chicago and Chicago back in twenty twenty put forth
a new minimum wage law where the minimum wage in
(16:55):
twenty twenty was thirteen dollars an hour and has now
jumped up to sixteen dollars and sixty cents an hour.
In July the first part of July, that price of
the minimum wage for their stores or for those companies
that have employees went up two and a half percent. Now,
(17:18):
when we have inflation at two and a half percent
and we've got wages going up by two and a
half percent, doesn't it stand a reason that some of
the focus on this, and my point is what we
need to do is we need to start not you know,
the spoon fed regurgitators in the mainstream media. Well, have
you believe that all these price increases are a result
(17:40):
of tariffs, Whereas.
Speaker 3 (17:41):
When you look at what is pushing.
Speaker 4 (17:43):
The prices here of tariffs, it's very low compared to
the other things. In terms of what we have here
increase in minimum wage two and a half percent for
these producers, the increase in terms of the paper supplies
and so on. So there are other facts in here
that are adding to these prices, and to blame it
(18:03):
all on tariffs, or to try to blame it on
teriffs is misleading at the least and probably intentional on
the part of the spoon, federalgirdstairs and mainstream media. Again,
it's not like we don't know that prices are going up,
but you know when there are other things that are
causing that, whether it be drought, whether it be the
(18:26):
wages that are being paid, Let's be truthful about that
and talk about that as opposed to trying to pass
it off as far as tariffs are concerned. But I
thought it was interesting. I mean, back in twenty twenty,
the effective rate was the minimum wage back then was
ten dollars an hour, and then they immediately in twenty
(18:47):
twenty one raise that to fifteen dollars an hour, and
then from that point on two and a half percent,
depending upon inflation, was raised every year since then, so
they jumped from fifteen dollars and eighty cents an hour
up to sixteen dollars and twenty cents an hour as
of July the first. So when they talk about the
(19:10):
price of coffee and stuff, I mean they're talking about that,
you know, these restaurants they're saying is September, the cost
the average price for a cup of coffee was three
dollars and fifty four cents compared to three dollars and
forty five cents last year. Well, that's up two point
six percent. So again, even with the increased terrace as
far as coffee, the drought and so on, a two
(19:32):
point six percent increase. But where were these people, Where
were these people whining about inflation? Back in twenty one
twenty two, we had gas prices go up a full
dollar a gallon from the beginning of well from January
of twenty twenty to the January of twenty twenty one,
and then when Russia invaded Ukraine it went up another
(19:54):
dollar twenty five.
Speaker 3 (19:55):
Where was the outrage? Then?
Speaker 4 (19:57):
All we heard was, Oh, it's transitory, it's going to go,
it's only temporary. We don't have to worry about it. Well, now,
all of a sudden, when prices are coming, you don't
hear anything about eggs anymore. Do you eggs have come
down considerably because of eradicating the bird flew and then
some of these I mean, you know, if you have
to if you have to kill an tire flock of
(20:19):
birds and you don't have chickens, you're not going to
have very many eggs. So there are reasons behind this,
and not just because of an economy that's going to
hell in a handbasket. I'm Kevin Gordon, America's Truck and
Network seven hundred WLW.
Speaker 2 (20:35):
News, Traffic and Weather. News Radio seven hundred wl W, Cincinnati.
Speaker 9 (20:43):
Republican infighting spills out into the open on day twenty
eight of the shutdown. It's your twelve thirty report. I'm
Travis Lair breaking now. Georgia Congresswoman Marjorie Taylor Green, known
for backing the Speaker of the House, now taking aim him.
She says she confronted Mike Johnson over the GOP's lack
(21:04):
of a healthcare plan, even calling out healthy House leaders
on a private call. Here's ABC's j O'Brien in a
break with her party. Congresswoman Marjorie Taylor Green acknowledging she
lashed out on a Republican call, accusing the gop of
not having a plan to tackle healthcare costs. Green writing today,
she confronted Speaker Johnson, saying, I have no respect for
(21:26):
the House not being in session, and I demand to
know from Speaker Johnson what the Republican plan for healthcare is.
Forty million Americans now days away from losing food benefits
as the standoff continues if Congress does not act now.
Speaker 2 (21:41):
The latest forecast from the Train Heating and Cooling Weather
Center on news radio seven hundred WLW.
Speaker 10 (21:49):
S heading for daybreak on Wednesday, A few showers develop
and that will continue into the morning. Rush a seven
am temperature of forty five now for the rest of
our Wednesday, heavy rain toward the afternoon and evening. On
the ride home, Gustie wins An, I have fifty two
at night, more heavy rain and a low of forty
four from your severe weather station, I'm nine first warning,
(22:11):
Chief Meteorologist Steve Rawley, News Radio seven hundred WLW.
Speaker 3 (22:17):
Right now fifty two degrees.
Speaker 9 (22:19):
In Cincinnati, Ohio, schools are urging voters to approve local
levees this November as new state funding restrictions take hold.
More than one hundred districts have measures on the ballot,
warning that failure could mean larger class sizes, layoffs, and
program cuts. Education advocates say recent laws limiting property tax
revenue and eliminating some levee options have left schools with
(22:41):
few alternatives. State leaders argue the changes will deliver tax
relief to homeowners, but districts say it comes as at
the expense of students and staff across Ohio. Now, Lee Mallen,
let's talk about some sports.
Speaker 2 (22:54):
Man seven one hundred WLW sports.
Speaker 12 (22:58):
The Bengals on Tuesday least defensive tackle Mike Penal and
play center Matt Lee and linebacker Shaka Hayward on the
injured list, leaving Cincinnati with three open spots on their
fifty three man roster. The Bengals host the Bear Sunday
afternoon at one o'clock. Covington Catholic Boys soccer defeats South
Otam in penalties to events to the KHSAA State Championship Game.
(23:21):
The Colonels will battle the Louisville Saint Xavier Tigers for
the title Saturday afternoon at four from the Lexington Sporting Club.
Speaker 9 (23:28):
Thank you as always Lee now and you will hear
from Lee and our next update. At one o'clock, breaking
news anytime. I'm Travis Lairs News Radio seven hundred WLW.
Speaker 2 (23:37):
Hey Cincinnati is former Bengal and Pro Football Hall of
Famer Anthony Munos. In two thousand and two, I started
the Anthony Munhos Foundation to provide Trittate youth with the
same help I received throughout my upbringing.
Speaker 13 (23:47):
The Try State and the rest of the country. In
the Tri State overnight mostly claudy, the low down to
forty four, mostly claudy Wednesday, with rain likely especially by
late afternoon. I hi A fifty two rain continuing Wednesday night.
Then rain continues for the first part of Thursday, any
by the early afternoon AHI fifty one. Nationally Overnight and
into Wednesday, light snow will be seen over parts of
(24:08):
the Northern Cascades and the Northern Rockies.
Speaker 4 (24:15):
Seven hundred WLW. I'm Kevin Gordon. This is America Struck
a network. You know, last week we had the story
talking about refinancing, that refinancing jumped up. Was it eighty
one percent higher than it was this time last year
thanks to falling mortgage rates? And we went to the
whole scenario of these different refinancing how many people were
(24:37):
refinancing their homes and so on.
Speaker 3 (24:39):
At the end of last week.
Speaker 4 (24:40):
We haven't had a chance to get to it, but
lower mortgage rates push home sales.
Speaker 3 (24:44):
Higher in September.
Speaker 4 (24:46):
Now, one of the things you know, if you've listened
to this program often enough, you'll know that one of
the things I've been harping on from for the longest
time is that Lion Jerry Powell and the Federal Reserve,
who by the way, met yesterday was the first part
of their meeting, and then later on today they will
(25:06):
have the results of their meeting, and they will be
making around two o'clock in the afternoon today they will
be making the announcement in terms of what they're going
to do on interest rates, whether they're going to lower
them keep them the same. Now the thinking is that
they're going to lower the interest rates by a quarter
percentage point.
Speaker 3 (25:26):
Which would be good, but it should be.
Speaker 4 (25:28):
Closer to half a percentage point again to stimulate the economy.
Every time they talk about stimulating the economy, every time,
people look at what interest rates do when it affects
your credit cards, when it affects your home loans, when
it affects your your financing as far as if you're
trying to buy a new truck, or fleets trying to
expand their fleet, or if you're trying to expand your
(25:51):
business by buying additional equipment or expanding the buildings you operate,
and all these things require financing, and if financing is high,
it may put you on the sideline to the point
where you're not going to make that investment at that
particular point in time. But lower mortgage rates are pushing
home sales. One of the downsides of that, though, is
(26:12):
that when interest rates come down, some of these people
get it in their head that well, people are getting
a break on their mortgage and they're going to be
paying less, so maybe I can get a little bit
more from my house now. There is that thinking. But
part of what's driving that though, is that when interest
(26:35):
rates come down, the affordability of homes are there and
more people jump in. When more people jump in, you
have a bigger demand. And if there's tighter supply, then
those prices are going to go up because as we
pointed out the other day, that some of the inventory
of available homes is less than what it normally is.
Speaker 3 (26:58):
So let's just go through the numbers here.
Speaker 4 (27:00):
Sales previously on homes rose one and a half percent
in September from August to a seasonally adjusted annualized rate
of four point zero six million units. According to National
Association Realtors, sales were four point one percent higher compared
with September of last year. Now that you think would
(27:22):
be celebrated and people were talking about that, I didn't
hear a whole lot of conversation about that over the
weekend and even up to this point. Again, apparently, if
there's good news, then our friends, the spoon fed regurgitators
in the mainstream media aren't going to cover it. All
they want to cover is the doom and gloom. Now,
(27:44):
when you look at some of these the numbers, the
count is based on closing, so people signing contracts, likely
in July and August when mortgage rates were coming down,
but we're not as low as they are now.
Speaker 3 (27:57):
The average rate on.
Speaker 4 (27:58):
A thirty year fixed fixed grade started in July, it's
six point sixty seven. It's now down to six point
one seven and even lower. Because this is as of
the other day so or actually towards the end of September,
So that's a full half a percentage point. And remember
we had a story a couple of months ago that
(28:19):
talked about if interest rates come down at half a
percentage point, something like one hundred and fifty thousand more
people that are living in apartments jump into the housing market.
And so when you have an influx there of one
hundred and fifty thousand people jumping into the housing market,
they are then well, they're going to be spending money.
(28:41):
They're going to be going into a home. They're probably
going to have a bigger home than the size of
their apartment, which means that they're going to be buying
more furniture, They're going to be doing some renovations. They're
going to possibly be buying some carpet paint, maybe new
appliances and stuff, which are good for the overall economy.
And if the economy is good, that means that more
(29:03):
stuff is going to have to be shipped, and you
guys are going to be a lot busier out there
hauling more and more freight because of this. And if
you're talking about a half a percentage point that draws
one hundred and fifty thousand people into the market, imagine
when those prices come down even further. We're talking about,
and we've gone through the numbers several times on this show,
(29:23):
the difference between the type of house you can you know,
what your price would be at certain interest rates, and
what your monthly mortgage payment would be at lower interest rates.
And we've seen that, and we've talked about what it
would be if the affordability wise on a monthly payment,
how much larger house you can afford, and the numbers
(29:47):
are astronomical, and you know, I can post something about that,
or I may talk about that later on, but I've
talked about it three or four times now, and I'm
sure a lot of people have heard it. But when
these interest rates come down, the affordability comes down and
more people can jump into the market. And the fact
that Federal reserve their interest rates that they talk about,
(30:10):
which is the borrowing rate that banks do when they
need money and they you know, for cashing checks or
whatever their cash needs for that day, they have to
borrow from other banks, and the bank rate is that
four percent four point two five percent. But as a
result of that, that also affects the interest rates on
credit cards, mortgages and everything that's financed. So when that
(30:33):
rate starts coming down. That's when you start seeing a
lowering of interest rates. And just with that quarter percentage
point that the Federal Reserve lowered interest rates last month,
we see a half a percentage point in mortgages coming down.
Speaker 3 (30:46):
That's a good sign.
Speaker 4 (30:48):
So again, if lion Jerry Powell is sitting around smoking
a cigar and drinking whiskey right now, pay attention to
this and tomorrow or later on today, go ahead and
lower those interest rates down another quarter percent or a
half a percentage point, because that is good for the economy.
And so you know, I've been talking all along the
(31:09):
thing that is holding this economy back, and I keep
making the analysis that it reminds me of these movies
I used to you'd see from the Oklahoma land rush,
where on a given day the territory was opened up
for people to go in and claim their stake. They
could get sixteen acres or whatever the number was, and
(31:31):
they all had to do was put a stake down
and then have it logged in and you know, just
register it and it was their land. And at that
date everybody was lined up on the border. All these
wagons and all these horses and everything were all lined up,
and that it is. You know, the gun was fired
off and everybody rushed in. That's how I see this economy.
(31:52):
With lower interest rates, our economy will absolutely explode for
the good. And I've been talking about all along. You
see what we've seen as far as the just with
things as they are, they were predicting that our gross
domestic product would only be around one point eight percent.
We already saw the effect of the resilience of the
(32:12):
American people, the resilience of the American consumer, that that
gross domestic product is up to three point eight percent.
And I've said that if these interest rates come down
and the way this economy is not even if the
interest rates come down, with the way this economy is going,
with the trade deals that are being cut, and we
just had a bunch of trade deals with Trump being
(32:34):
over in Asia, with Japan, and hopefully there's some signs
that there's going to be something done as far as China.
They're getting moved more closer and closer to making a deal.
Those teriff rates will come down and we will have
a lot more prosperity and a lot more free flow
of goods. Fair trade. Fair trade as opposed to just
(32:56):
free trade, and so if this economy, I still I
am still maintaining the fact that by the end of
this year, Okay, we've only got what two more months,
basically at the end of this month, the end of
twenty twenty five, we will see that the gross domestic
product will be somewhere between four point five and five percent,
(33:17):
and I do seriously believe that inflation will be down
around that two percentage point range. I'm maintaining that, and
what we need is a little bit of cooperation from
Lyon and Jerry Powell and the FED. I'm Kevin Gordon,
America's truck and Network seven hundred WLW.
Speaker 3 (33:35):
Run a business and not thinking about.
Speaker 4 (33:38):
This is America's truck in Network seven hundred WLW IM
Kevin Gordon. One of the things I talked about in
the first segment, we were talking about inflation and where
some of these inflation rates are coming from. We talked
about coffee, we talked about some of the food items.
The one thing about this administration, and no matter what
the criticism from the main stream media, this administration is
(34:03):
extremely flexible in terms of nothing, well nothing but certain
things are not cast in concrete. On liberation, day, he
put out and said that as of a date, certain
these tariffs were going to go into effect as reciprocal
teriffs if the other countries don't reduce their terraffs. And
(34:25):
he had the different charts where it showed what they
charge our goods going into their country versus what we charge,
and we were going to reciprocate those terraffts. That was
a negotiating tool to get them to the table to
start negotiating and bring these tariffs down on our goods
and opening up their markets to our goods, which would
(34:46):
lead to more jobs, more exports, more volume, more freight,
et cetera. Good for our country here and the people
working that is been going forward very rapidly. They're now
in the final stages trying to pull together a deal
with China which should bring some of those prices down
as well. But where there is an area that needs
(35:07):
to be tweaked, you put on a fifty percent terra
for something, then you look at some of those items
within those exports coming into this country, what would penalize
some of our people. He's done Exemptions one of the
things they're working on. I talked about this in one
of the previous segments talking about with the coffee prices,
possibly putting in an exemption to that to bring the
(35:28):
price of coffee down even though there's been droughts down
there and so on.
Speaker 3 (35:32):
One of the.
Speaker 4 (35:33):
Other areas that we've seen where prices have gone up
considerably is in meat prices. And when we've talked about
how there are droughts out west this I think I
saw a number where something like thirty percent of the
area where cattle graze is are under drought conditions, and
(35:54):
the feed costs are up. So when there's droughts, the
cattle cannot grays on the open land. They have to
be fed, and so with grain prices up, it becomes
very expensive to produce cattle, and so a lot of
people have thinned their herds to the point where we
are at the level in terms of the herds that
(36:16):
are in the United States are at levels we haven't
seen since we're at the levels where they were back
in nineteen fifty one. So we're talking about a seventy five,
seventy seventy two, seventy four years low. So of course
that's going you're going to have a dwindling supply. So
a lot of the beef that we have been importing
(36:38):
from other countries has been offsetting that to keep the
prices a little bit low, last lower than what they
would normally be. Trump suggested last week or last week
suggests that the US will be buying more beef from
Argentina and with that coming in should affect the prices
a little bit. But there were the cattlemen were not
(37:01):
too happy with that because they said that that would
artificially push down the prices and that they wouldn't be
making as much. And the way the story was written,
it said why cattlemen say Trump talk of Argentine beef
imports is no solution. Again, the headline didn't match the story.
It talked about some of the stuff that they have
(37:22):
to do and some of the things that they need
to do, and well as far as one of the
things in there talking about the drought conditions. The cattle
ranchers in Texas and around the country are concerned about
the screw worm, which is a parasitic fly that was
once eradicated in the United States, is threatening a comeback
(37:43):
on the Mexican border. They had an infestation of the
infestation of that down in the southern parts of Mexico
and it has already moved up almost halfway through the
country and getting close to the border.
Speaker 3 (37:57):
Now. I won't go into.
Speaker 4 (37:58):
The details of this because it is pretty gross what
this fly does and how it infects. But they have
seen it's not normally passed along to humans, but it
was passed on to a human And I thought it
was interesting because they talked about the Centers for the
Disease Control and Prevention identified a case of a flesh
(38:21):
eating parasite and a person in Maryland who returned to
the US after traveling to Al Salvador. H not where
the Maryland dad was from and could it possibly be No,
it's not Chris van Holland that went to his senator
from Maryland. Remember he went down there and had Margarita's
with kilmar Abrego Garcia. No, but it was apparently somebody
(38:43):
else who traveled down to El Salvador and got this
flesh eating disease. But what they've tried to do is
put these sterile flies to go down there and breed,
so it basically kills off. But these parasites if it
was eradicated in the United States and been eradicated for
Center for decades. Why can't that technology be put forth
(39:06):
and eradicate those diseases down in Mexico. I don't I
don't understand that. But again, that's one of the things
that the Trump administration is trying to do. They're trying
to be flexible in terms of importing beef or allowing
beef to be imported from different areas of the world,
to pull our prices down and get them back more reasonable. Now,
(39:27):
with these trade negotiations going on with China them moving
closer and closer to a deal, it's throwing closer one
of the areas that I thought was a done deal.
And I'm surprised that this is weird. Its ugly head
is Canada. Canada? All of a sudden, well Trump is
you know, we had they had that meeting with Mark
Carney in the in the Oval office, what was it
(39:50):
a week and a half ago, and they were chuckling
it up. They were seemed like they were fast friends.
It looks like they were, you know, really on the
same page and talking about things. Well, all of a sudden,
I don't know if he was getting some pressure from
the folks back home that hey, you're cozying up to
this guy.
Speaker 3 (40:08):
He's not.
Speaker 4 (40:09):
We are being it's a fair deal for the United States,
but it's hurting us up here. And I'm going to
go on a side note here. When I see some
of these people in the media when there is a
trade deal that is negotiated and it has accomplished, why
do they have to It's not like the people in
Canada can't watch our TV shows. And if our reporters
(40:33):
and Fox News is guilty of this, I've seen this
on a couple of occasions where they said, oh, you know,
Trump went in there and he just beat them to death.
They are now sucking up to him, and they are
just they we are eating their lunch.
Speaker 5 (40:48):
Now.
Speaker 3 (40:49):
You know, this is not.
Speaker 4 (40:50):
The type of thing you do in a If you've
ever been involved in athletics, and apparently some of these
hosts aren't, have never been involved in athletics and never
been involved in competition, you do not, absolutely do not
gloat over your opponent. If you beat that opponent, even
if you beat them badly, you always hear the coach
(41:13):
talking about, well, they put up a really good fight,
they had a really good defense. We just had a
really good day to Day, etc. You don't want to
give them ammunition. But apparently there's been something that ruffled
some feathers somewhere along the lines. Hope it's not been
the broadcast talking about this, but there's been some trade
negotiations between the two countries which has suddenly fallen apart,
(41:35):
and Trump has suspended trade negotiations with Canada. Now that's
happened once before and then eventually they got back to
the table. Was probably a negotiating tool. But I don't
know if you've seen this ad where I guess it's
Ontario that is running this ad talking about Ronald Reagan
(41:56):
where he was giving a speech talking about tariffs, and
if you just look at that commercial on the surface,
it looks pretty interesting from the standpoint of where he's saying,
the terrorists may feel good, it may bring in more
revenue and so on, but eventually the others are going
(42:18):
to retaliate and it's going to be bad for American
jobs and so on. They have spliced that speech out
because I read I've pulled up the speech from the
Reagan Foundation, and apparently the Reagan Foundation is suing the
government of Ontario for falsely portraying Ronald Reagan as opposing
(42:39):
all terrorists. And as a matter of fact, what Reagan
was actually talking about in that speech was, and this
was back in nineteen eighty seven, where he was talking
about implementing certain terrorifts to balance the playing field. And
if you listen to that speech and what he's saying,
he said that it may feel good on the part
(43:02):
and as he talked about as the United States feeling
good about raising terroriffs, but other people raised, uh than
raised their terrorists.
Speaker 3 (43:10):
We'll put the flip.
Speaker 4 (43:11):
Side on that and that that that that argument still
holds true, but doesn't hold true in this situation. The
other countries have already had their terrorifts on American goods.
They have closed their markets on our goods coming in. So,
in other words, and in terms of leveling the playing field,
(43:33):
we have increased our terroriffs on their goods to make
them more fair and free. And what they're trying to say,
or trying to hint through this commercial is that because
we are raising our terrorists, it's bad for the overall
economy between the two countries. They forget that they have
(43:56):
had outrageous terrafts on our products. Just in Pholtry, just
in dairy products a two hundred and ninety nine percent
tariff on our goods going into their country. Of course,
we're not going to be selling anything going in there.
Those markets are based in effect close to us, so
the argument that they're trying to make should be flipped
(44:18):
around on them. You guys have put these tariffs on.
You may feel good about having these terriffs. You may
be feeling good about collecting this money from the United States,
but at some point in time, we're going to raise
ours and level the playing field, which would be a
more fair and more true way of looking at that.
(44:40):
But I got to tell you, and that has upset
the trade negotiations. That one commercial has been one of
the areas that have been talked about of why the
trade negotiations between the two companies and countries have fallen apart.
Then you take into consideration that the Reagan Foundation looked
at that compared to what the speed each actually was
(45:01):
and said, this misrepresents what his speech was all about.
So just if you see that commercial, know that it's
a crock of crap and don't pay any attention to it. Well, folks,
we're up against clock here. Stay tuned for ati radios.
At the top of the hour, I'm Kevin Gordon, America's
Trucking Network seven hundred WLW.
Speaker 2 (45:20):
News, Traffic and Weather. News Radio seven hundred WLW Cincinnati.
Speaker 12 (45:28):
Could internal struggles be the key to the chiefs administrative leave?
Speaker 3 (45:33):
Well the top of the hour report I'm le
This is America's Trucking Network with Kevin Gordon.
Speaker 2 (00:10):
Ware.
Speaker 3 (00:11):
Thanks for tuning in on this Wednesday morning.
Speaker 4 (00:13):
Got to start off with a update on Hurricane Melissa.
If the eye has approached and is on Jamaica and
it's a slow moving storm, and our hearts and prayers
go out to the folks of Jamaica because this is
a Category five hurricane, one of the strongest ones on record.
(00:34):
And I, you know, I guess my geography is off,
and I'm not all that aware or familiar with Jamaica.
You know, you think in terms of all these commercials
you see for those resort areas, and all they ever
do is focus on the beaches and so on, and
you just think, okay, that's pretty much it. But the
the pictures and the stuff that I was seeing in
(00:57):
terms of how Jamaica is built, there's an awful lot
of hills there. And the one guy was talking about that,
and I don't know if it's continuing to go on,
but they said that Jamaica is basically a confluence of
all these I guess plates in terms of the you know,
(01:18):
the shifting of the of the land, and that these
plates are pushing together and pushing the island actually higher
out of the ocean, and a lot of these buildings
are built on these hillsides, and with these steep hillsides,
with the mount of rain that they're going to be getting,
(01:38):
the amount of flow, I mean, you not only have
the surge of the of the hurricane coming in off
the water, but then you've got the foot of rain,
two feet of rain, et cetera, hitting these mountains and
then coming down and flowing into the cities, and it
is just going to be an absolute mess. So again,
our hearts and prayers are going out to those people.
(02:00):
I was not aware of how high and how hilly
that area of Jamaica is. All I've ever seen is
pictures of the beaches and so on. Now, of course,
once the hurricane Melissa is finished with them, moves on
to Dominican Republic and then across the way and then
goes into hopefully going to just hit the southeastern portion
(02:24):
of Cuba, but that is the area where Quantanamo Bay is,
and then they're talking about where it moves on from
there on to the Bahamas. But again, the trajectory of
this storm looks like it's going to be heading northeast
away from this area, and depending upon how it turns
and what it turns and where it turns, hopefully it'll
(02:45):
miss part of the Bahamas and hopefully maybe just nick
the ends of Cuba. But of course we'll keep our
eye on that particular storm. It is just they were
telling you about that this hurricane season. Now, we have
not seen a direct landfall in the United States. This
hurricane season began June first and ends November thirtieth, knock
(03:08):
on wood that we won't have a direct hit. But
we have had some storm surges as a result of
some of these passing storms hitting the outer banks there
around Cape Hatteras and whatever, North Carolina, and I think
there were about twelve houses that are on stilts and
whatever because of the storm surge actually got destroyed. But
(03:29):
for the most part we have escaped. But they said
that this is one of the most active. The record
number of five category five hurricanes that have been in
the Atlantic Ocean the record this is going to be
the well so far going to be the second highest
at three hurricanes that are category five.
Speaker 3 (03:49):
Now the other two pretty much stayed out.
Speaker 4 (03:52):
In the middle of the ocean and then veered off,
so you know, I don't care how many Category five
hurricanes there are out in the ocean that never make landfall.
I mean, they're going to have ten out there for
all I care, just as long as it doesn't hit
the land. But apparently back in two thousand and five
there were actually four storms that got up to a
category five, so they still got about a little about
(04:14):
a month and a half left, a little over a
month and a couple of weeks anyway till the end
of the hurricane season, and hopefully we won't have any
more category five hurricanes, or if we're going to have them,
stay the hell off the you know, out in the ocean,
and so on. We talked yesterday about food prices and
talked about inflation, and the thing that kept catching my
(04:35):
eye just I am not downplaying the fact that there
is some inflation. Okay, when you're looking at hot prices
going up about two percent two and a half percent
on a yearly basis, that adds up over time. But
when you look at the way the spoon fed regurgitators
in the mainstream media are characterizing this, this is the
(04:55):
kind of talk, This is the kind of expectations I
would have seen from the spoon fed regurgitators. Back in
twenty twenty one and twenty twenty two, when we were
having four and a half five and a half percent,
we had one month where there was nine and a
half percent increase in inflation in the month of June
of twenty twenty two. We saw gas prices in twenty
(05:19):
twenty two getting as high as a national average across
the board. Now in California it was a lot higher, obviously,
but across the board, the average gas price in the
United States was at five dollars a gallon. The average
price now is around three h three to three h four.
I think what's the number three? Yeah, three oh four,
(05:39):
And so prices have come down considerably from there, and
yet everybody wants to talk about, oh, fuel prices were
up four point one percent, whereas I'm looking at numbers
from last month and gas prices a month ago, we're
at three thirteen and we're down nine cents almost ten
cents a gallon from that. So where they're coming up
with these numbers and every time they do one of
(06:01):
these analysis, I think the Wall Street Journal, or was
that the New York Times did an analysis a couple
of couple of months ago, and they were saying, well,
just take a focus on in New York at the
Walmart center there, and there are some prices that have
gone up fifty two percent. And pulling out that numbers,
(06:24):
digging through the details and stuff, what we found or
what I just looked at in terms of that was
that this was a item imported from China. It was
a pot and pan set from Drew Barrymore called Beautiful
or whatever it was. That it went from ninety nine
(06:45):
dollars up to one hundred and forty nine dollars. And
this was an item imported from China. This isn't the
best cookware available. There aren't other alternatives, not like there's
not other alternatives out there. And if they want want
to raise those prices, if the Chinese labor there, and
we talked about at the time, how.
Speaker 3 (07:06):
The labor over there is so cheap that.
Speaker 4 (07:08):
They're only paying something along the lines of between five
dollars and seven dollars an hour, whereas in the United
States we're paying thirty six thirty seven dollars an hour
and including benefits and so on. But that five dollars
and seven dollars over in China includes no benefits, no
vacation time, no workers, got none of this stuff. And
(07:28):
yet our employers over here are paying thirty seven dollars
on average for employees in terms of benefits and everything else.
Speaker 3 (07:36):
Now that's across the board.
Speaker 4 (07:38):
And so with that kind of a margin, the Chinese
companies that are manufacturing these items, they could absorb some
of these tariffs the importer. The exporter could absorb some
of it the import. And we've gone through this scenario.
So it was a basically the bottom line is a
BS argument. BS article that was just trying to stir
(07:59):
the pot. And I keep saying that if I keep
looking at these stories from the spoon feder regurgitators in
the mainstream media, and it appears as though that they
are trying to talk down the economy, talk down what's
going on as far as economic policy is concerned, and
they are trying to manufacture recession, and they are failing
miserably because things are humming along. We see that as
(08:22):
far as the unemployment rate, we see that as numbers
of the jobs created, although it's flat, there aren't very
many layoffs, and we see the unemployment numbers where those
aren't increasing dramatically, and when you see two percent increase
in prices and stuff like that across the board, it's
pretty much on average of what they were talking about before.
(08:43):
And we'll get into a lot of this because we
want to talk a little bit more about it. But
the one thing that popped out it seems like when
they're talking about food prices, all they were, you know,
at the beginning of the year, all it was was eggs, eggs, eggs,
eggs are up forty two percent. Fit Trump's not bringing
those is down. Well, now that those prices are down
compared to last year, all of a sudden, well they've
(09:05):
got to shift categories and talk about coffee and beef.
Speaker 3 (09:08):
We'll pick this up.
Speaker 4 (09:09):
I'm Kevin Gordon, America's Trucking Network, seven hundred WLW.
Speaker 5 (09:14):
I do.
Speaker 1 (09:14):
This is the briefing repord on America's Trucking Network on
seven hundred WLW.
Speaker 6 (09:20):
NASCAR holds its Championship weekend in Phoenix. The Truck Champ
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Cup Champ on Sunday. Who will win the Cup Series
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Petty Podcast, Will it be Denny Hamlin, Chase Briscoe, Kyle
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Speaker 7 (09:41):
Right now, it's the tasip and there's no way to
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that's a tough question. The way the twenty four run. Yes,
you would say the twenty four, But racing probably owes
Denny Hamlin as long as he's been running and good
(10:02):
as he's run, and he's certainly a champion without winning
a championship. And maybe I ain't gonna say one of
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I'm Kevin Gordon, America's Trucking Network seven hundred WLW. We're
talking about inflation numbers and when they put out these
items and they say, okay, we've got the inflation number,
and then we've got the core inflation number and the
core inflation number. What that does is it pulls out
the more volatile items in the inflation category or the
(12:12):
stuff that is bought on.
Speaker 3 (12:13):
A regular basis.
Speaker 4 (12:15):
And generally the two big categories there are food and
energy because depending upon the year, depending you know, the
time of the year, you've gotten the springtime, certain fruits, vegetables,
et cetera that are readily available in the fall, and
so on, so those prices will fluctuate. Energy itself fluctuates
depending upon geopolitical issues, what's going on in terms of
(12:36):
the sector, whether there's different refineries that are closing down
or shutting down for maintenance, imports, storms on the seat,
so all that's volatile. So they pull that out and
say okay, put those off to the side, and then
look at the other core items in the as far
as inflation is concerned.
Speaker 3 (12:54):
When you add that back and they're talking.
Speaker 4 (12:56):
About the biggest driver of inflation this past was in
the food area, and they concentrate on two items. They
concentrated on coffee and beef. Well, it's almost like you
have to pull those items off to the side as
well to get a full idea or you know, because
of the volatility in those areas, to see what the
(13:19):
actual food prices are.
Speaker 3 (13:20):
And I just got curious.
Speaker 4 (13:21):
I thought, well, you know, they keep talking about tariffs
adding to coffee prices. They keep talking about this, Well,
what else is adding to the coffee prices? So I
dug into it a little bit. We here in the
United States, between Hawaii and uh, what was it, Puerto Rico,
we only generate about one percent of the amount of
coffee that is consumed in the United States.
Speaker 3 (13:43):
The rest of it has to be imported.
Speaker 4 (13:45):
So already we've got a situation where that stuff has
to travel. But where you have a situation down in
Brazil and Columbia, and you have these southern South American
countries that produce the majority of the coffee. Now there's
somehow that comes out of Vietnam and the southeast and
so on. But the majority of the stuff that we
(14:07):
drink here in the United States is from South America,
and when you have a drought situation down there, that
means their crops aren't producing as much, so there's not
as much supply. And when you know, obviously, you know
that when there's smaller supply and the demand is the same,
the prices are going to go up. And yes, the
(14:27):
tariffs have added to that to a certain percentage. But
when you take into consideration the costs we've documented here
on the program. We had the contracts that were signed
by the West Coast and East Coast dock workers bringing
those goods in, that's going to add to the product.
(14:48):
Plus you have fuel prices and stuff being transported. Plus
you have the drought down there in South America in
these coffee bean areas, and that's adding to it. So
break picking those out the amount of tariffs that are
added to this. Now they keep saying that coffee prices
are up. Okay, they're saying coffee prices are up from
(15:08):
last year by nineteen percent. Now they're saying also that
the tariffs on these on coffee is somewhere in the
neighborhood on certain countries about forty percent. So if coffee
prices are going up only nineteen percent. One of the
things is is that I've talked about, and we've talked
about on this program a number of times that because
(15:29):
of the production costs, because of the availability, the big
margins in some of these areas, some of these people
are some of these companies are actually absorbing these increases.
As far as tariffs, now, there's been some movement because
there is a program that if you've got rare things
that are not actually available in the United States and
(15:49):
they have to be imported, they can be exempted from
any tariffs on that particular country and those can be eliminated.
There's a push now to eliminate the tariffs on coffee,
which would be good. But in the story that I read,
they talk about this. Nicky Bravo, the cow co owner
of Momentum Coffee in Chicago, raised her prices by fifteen
(16:12):
percent recently as to her coffee prices, and she talks
about how, you know, she's paying fifteen percent more for
the coffee coming into the country and coming into her business,
but she's also roasting some of her own beans to
try to offset that then you've got the added increase
(16:33):
in terms of the sleeves, the cups, and all the
different supplies that's got to be added into it. Plus
the fact that she has her operation of her stores
in Chicago and Chicago back in twenty twenty put forth
a new minimum wage law where the minimum wage in
(16:55):
twenty twenty was thirteen dollars an hour and has now
jumped up to sixteen dollars and sixty cents an hour.
In July the first part of July, that price of
the minimum wage for their stores or for those companies
that have employees went up two and a half percent. Now,
(17:18):
when we have inflation at two and a half percent
and we've got wages going up by two and a
half percent, doesn't it stand a reason that some of
the focus on this, and my point is what we
need to do is we need to start not you know,
the spoon fed regurgitators in the mainstream media. Well, have
you believe that all these price increases are a result
(17:40):
of tariffs, Whereas.
Speaker 3 (17:41):
When you look at what is pushing.
Speaker 4 (17:43):
The prices here of tariffs, it's very low compared to
the other things. In terms of what we have here
increase in minimum wage two and a half percent for
these producers, the increase in terms of the paper supplies
and so on. So there are other facts in here
that are adding to these prices, and to blame it
(18:03):
all on tariffs, or to try to blame it on
teriffs is misleading at the least and probably intentional on
the part of the spoon, federalgirdstairs and mainstream media. Again,
it's not like we don't know that prices are going up,
but you know when there are other things that are
causing that, whether it be drought, whether it be the
(18:26):
wages that are being paid, Let's be truthful about that
and talk about that as opposed to trying to pass
it off as far as tariffs are concerned. But I
thought it was interesting. I mean, back in twenty twenty,
the effective rate was the minimum wage back then was
ten dollars an hour, and then they immediately in twenty
(18:47):
twenty one raise that to fifteen dollars an hour, and
then from that point on two and a half percent,
depending upon inflation, was raised every year since then, so
they jumped from fifteen dollars and eighty cents an hour
up to sixteen dollars and twenty cents an hour as
of July the first. So when they talk about the
(19:10):
price of coffee and stuff, I mean they're talking about that,
you know, these restaurants they're saying is September, the cost
the average price for a cup of coffee was three
dollars and fifty four cents compared to three dollars and
forty five cents last year. Well, that's up two point
six percent. So again, even with the increased terrace as
far as coffee, the drought and so on, a two
(19:32):
point six percent increase. But where were these people, Where
were these people whining about inflation? Back in twenty one
twenty two, we had gas prices go up a full
dollar a gallon from the beginning of well from January
of twenty twenty to the January of twenty twenty one,
and then when Russia invaded Ukraine it went up another
(19:54):
dollar twenty five.
Speaker 3 (19:55):
Where was the outrage? Then?
Speaker 4 (19:57):
All we heard was, Oh, it's transitory, it's going to go,
it's only temporary. We don't have to worry about it. Well, now,
all of a sudden, when prices are coming, you don't
hear anything about eggs anymore. Do you eggs have come
down considerably because of eradicating the bird flew and then
some of these I mean, you know, if you have
to if you have to kill an tire flock of
(20:19):
birds and you don't have chickens, you're not going to
have very many eggs. So there are reasons behind this,
and not just because of an economy that's going to
hell in a handbasket. I'm Kevin Gordon, America's Truck and
Network seven hundred WLW.
Speaker 2 (20:35):
News, Traffic and Weather. News Radio seven hundred wl W, Cincinnati.
Speaker 9 (20:43):
Republican infighting spills out into the open on day twenty
eight of the shutdown. It's your twelve thirty report. I'm
Travis Lair breaking now. Georgia Congresswoman Marjorie Taylor Green, known
for backing the Speaker of the House, now taking aim him.
She says she confronted Mike Johnson over the GOP's lack
(21:04):
of a healthcare plan, even calling out healthy House leaders
on a private call. Here's ABC's j O'Brien in a
break with her party. Congresswoman Marjorie Taylor Green acknowledging she
lashed out on a Republican call, accusing the gop of
not having a plan to tackle healthcare costs. Green writing today,
she confronted Speaker Johnson, saying, I have no respect for
(21:26):
the House not being in session, and I demand to
know from Speaker Johnson what the Republican plan for healthcare is.
Forty million Americans now days away from losing food benefits
as the standoff continues if Congress does not act now.
Speaker 2 (21:41):
The latest forecast from the Train Heating and Cooling Weather
Center on news radio seven hundred WLW.
Speaker 10 (21:49):
S heading for daybreak on Wednesday, A few showers develop
and that will continue into the morning. Rush a seven
am temperature of forty five now for the rest of
our Wednesday, heavy rain toward the afternoon and evening. On
the ride home, Gustie wins An, I have fifty two
at night, more heavy rain and a low of forty
four from your severe weather station, I'm nine first warning,
(22:11):
Chief Meteorologist Steve Rawley, News Radio seven hundred WLW.
Speaker 3 (22:17):
Right now fifty two degrees.
Speaker 9 (22:19):
In Cincinnati, Ohio, schools are urging voters to approve local
levees this November as new state funding restrictions take hold.
More than one hundred districts have measures on the ballot,
warning that failure could mean larger class sizes, layoffs, and
program cuts. Education advocates say recent laws limiting property tax
revenue and eliminating some levee options have left schools with
(22:41):
few alternatives. State leaders argue the changes will deliver tax
relief to homeowners, but districts say it comes as at
the expense of students and staff across Ohio. Now, Lee Mallen,
let's talk about some sports.
Speaker 2 (22:54):
Man seven one hundred WLW sports.
Speaker 12 (22:58):
The Bengals on Tuesday least defensive tackle Mike Penal and
play center Matt Lee and linebacker Shaka Hayward on the
injured list, leaving Cincinnati with three open spots on their
fifty three man roster. The Bengals host the Bear Sunday
afternoon at one o'clock. Covington Catholic Boys soccer defeats South
Otam in penalties to events to the KHSAA State Championship Game.
(23:21):
The Colonels will battle the Louisville Saint Xavier Tigers for
the title Saturday afternoon at four from the Lexington Sporting Club.
Speaker 9 (23:28):
Thank you as always Lee now and you will hear
from Lee and our next update. At one o'clock, breaking
news anytime. I'm Travis Lairs News Radio seven hundred WLW.
Speaker 2 (23:37):
Hey Cincinnati is former Bengal and Pro Football Hall of
Famer Anthony Munos. In two thousand and two, I started
the Anthony Munhos Foundation to provide Trittate youth with the
same help I received throughout my upbringing.
Speaker 13 (23:47):
The Try State and the rest of the country. In
the Tri State overnight mostly claudy, the low down to
forty four, mostly claudy Wednesday, with rain likely especially by
late afternoon. I hi A fifty two rain continuing Wednesday night.
Then rain continues for the first part of Thursday, any
by the early afternoon AHI fifty one. Nationally Overnight and
into Wednesday, light snow will be seen over parts of
(24:08):
the Northern Cascades and the Northern Rockies.
Speaker 4 (24:15):
Seven hundred WLW. I'm Kevin Gordon. This is America Struck
a network. You know, last week we had the story
talking about refinancing, that refinancing jumped up. Was it eighty
one percent higher than it was this time last year
thanks to falling mortgage rates? And we went to the
whole scenario of these different refinancing how many people were
(24:37):
refinancing their homes and so on.
Speaker 3 (24:39):
At the end of last week.
Speaker 4 (24:40):
We haven't had a chance to get to it, but
lower mortgage rates push home sales.
Speaker 3 (24:44):
Higher in September.
Speaker 4 (24:46):
Now, one of the things you know, if you've listened
to this program often enough, you'll know that one of
the things I've been harping on from for the longest
time is that Lion Jerry Powell and the Federal Reserve,
who by the way, met yesterday was the first part
of their meeting, and then later on today they will
(25:06):
have the results of their meeting, and they will be
making around two o'clock in the afternoon today they will
be making the announcement in terms of what they're going
to do on interest rates, whether they're going to lower
them keep them the same. Now the thinking is that
they're going to lower the interest rates by a quarter
percentage point.
Speaker 3 (25:26):
Which would be good, but it should be.
Speaker 4 (25:28):
Closer to half a percentage point again to stimulate the economy.
Every time they talk about stimulating the economy, every time,
people look at what interest rates do when it affects
your credit cards, when it affects your home loans, when
it affects your your financing as far as if you're
trying to buy a new truck, or fleets trying to
expand their fleet, or if you're trying to expand your
(25:51):
business by buying additional equipment or expanding the buildings you operate,
and all these things require financing, and if financing is high,
it may put you on the sideline to the point
where you're not going to make that investment at that
particular point in time. But lower mortgage rates are pushing
home sales. One of the downsides of that, though, is
(26:12):
that when interest rates come down, some of these people
get it in their head that well, people are getting
a break on their mortgage and they're going to be
paying less, so maybe I can get a little bit
more from my house now. There is that thinking. But
part of what's driving that though, is that when interest
(26:35):
rates come down, the affordability of homes are there and
more people jump in. When more people jump in, you
have a bigger demand. And if there's tighter supply, then
those prices are going to go up because as we
pointed out the other day, that some of the inventory
of available homes is less than what it normally is.
Speaker 3 (26:58):
So let's just go through the numbers here.
Speaker 4 (27:00):
Sales previously on homes rose one and a half percent
in September from August to a seasonally adjusted annualized rate
of four point zero six million units. According to National
Association Realtors, sales were four point one percent higher compared
with September of last year. Now that you think would
(27:22):
be celebrated and people were talking about that, I didn't
hear a whole lot of conversation about that over the
weekend and even up to this point. Again, apparently, if
there's good news, then our friends, the spoon fed regurgitators
in the mainstream media aren't going to cover it. All
they want to cover is the doom and gloom. Now,
(27:44):
when you look at some of these the numbers, the
count is based on closing, so people signing contracts, likely
in July and August when mortgage rates were coming down,
but we're not as low as they are now.
Speaker 3 (27:57):
The average rate on.
Speaker 4 (27:58):
A thirty year fixed fixed grade started in July, it's
six point sixty seven. It's now down to six point
one seven and even lower. Because this is as of
the other day so or actually towards the end of September,
So that's a full half a percentage point. And remember
we had a story a couple of months ago that
(28:19):
talked about if interest rates come down at half a
percentage point, something like one hundred and fifty thousand more
people that are living in apartments jump into the housing market.
And so when you have an influx there of one
hundred and fifty thousand people jumping into the housing market,
they are then well, they're going to be spending money.
(28:41):
They're going to be going into a home. They're probably
going to have a bigger home than the size of
their apartment, which means that they're going to be buying
more furniture, They're going to be doing some renovations. They're
going to possibly be buying some carpet paint, maybe new
appliances and stuff, which are good for the overall economy.
And if the economy is good, that means that more
(29:03):
stuff is going to have to be shipped, and you
guys are going to be a lot busier out there
hauling more and more freight because of this. And if
you're talking about a half a percentage point that draws
one hundred and fifty thousand people into the market, imagine
when those prices come down even further. We're talking about,
and we've gone through the numbers several times on this show,
(29:23):
the difference between the type of house you can you know,
what your price would be at certain interest rates, and
what your monthly mortgage payment would be at lower interest rates.
And we've seen that, and we've talked about what it
would be if the affordability wise on a monthly payment,
how much larger house you can afford, and the numbers
(29:47):
are astronomical, and you know, I can post something about that,
or I may talk about that later on, but I've
talked about it three or four times now, and I'm
sure a lot of people have heard it. But when
these interest rates come down, the affordability comes down and
more people can jump into the market. And the fact
that Federal reserve their interest rates that they talk about,
(30:10):
which is the borrowing rate that banks do when they
need money and they you know, for cashing checks or
whatever their cash needs for that day, they have to
borrow from other banks, and the bank rate is that
four percent four point two five percent. But as a
result of that, that also affects the interest rates on
credit cards, mortgages and everything that's financed. So when that
(30:33):
rate starts coming down. That's when you start seeing a
lowering of interest rates. And just with that quarter percentage
point that the Federal Reserve lowered interest rates last month,
we see a half a percentage point in mortgages coming down.
Speaker 3 (30:46):
That's a good sign.
Speaker 4 (30:48):
So again, if lion Jerry Powell is sitting around smoking
a cigar and drinking whiskey right now, pay attention to
this and tomorrow or later on today, go ahead and
lower those interest rates down another quarter percent or a
half a percentage point, because that is good for the economy.
And so you know, I've been talking all along the
(31:09):
thing that is holding this economy back, and I keep
making the analysis that it reminds me of these movies
I used to you'd see from the Oklahoma land rush,
where on a given day the territory was opened up
for people to go in and claim their stake. They
could get sixteen acres or whatever the number was, and
(31:31):
they all had to do was put a stake down
and then have it logged in and you know, just
register it and it was their land. And at that
date everybody was lined up on the border. All these
wagons and all these horses and everything were all lined up,
and that it is. You know, the gun was fired
off and everybody rushed in. That's how I see this economy.
(31:52):
With lower interest rates, our economy will absolutely explode for
the good. And I've been talking about all along. You
see what we've seen as far as the just with
things as they are, they were predicting that our gross
domestic product would only be around one point eight percent.
We already saw the effect of the resilience of the
(32:12):
American people, the resilience of the American consumer, that that
gross domestic product is up to three point eight percent.
And I've said that if these interest rates come down
and the way this economy is not even if the
interest rates come down, with the way this economy is going,
with the trade deals that are being cut, and we
just had a bunch of trade deals with Trump being
(32:34):
over in Asia, with Japan, and hopefully there's some signs
that there's going to be something done as far as China.
They're getting moved more closer and closer to making a deal.
Those teriff rates will come down and we will have
a lot more prosperity and a lot more free flow
of goods. Fair trade. Fair trade as opposed to just
(32:56):
free trade, and so if this economy, I still I
am still maintaining the fact that by the end of
this year, Okay, we've only got what two more months,
basically at the end of this month, the end of
twenty twenty five, we will see that the gross domestic
product will be somewhere between four point five and five percent,
(33:17):
and I do seriously believe that inflation will be down
around that two percentage point range. I'm maintaining that, and
what we need is a little bit of cooperation from
Lyon and Jerry Powell and the FED. I'm Kevin Gordon,
America's truck and Network seven hundred WLW.
Speaker 3 (33:35):
Run a business and not thinking about.
Speaker 4 (33:38):
This is America's truck in Network seven hundred WLW IM
Kevin Gordon. One of the things I talked about in
the first segment, we were talking about inflation and where
some of these inflation rates are coming from. We talked
about coffee, we talked about some of the food items.
The one thing about this administration, and no matter what
the criticism from the main stream media, this administration is
(34:03):
extremely flexible in terms of nothing, well nothing but certain
things are not cast in concrete. On liberation, day, he
put out and said that as of a date, certain
these tariffs were going to go into effect as reciprocal
teriffs if the other countries don't reduce their terraffs. And
(34:25):
he had the different charts where it showed what they
charge our goods going into their country versus what we charge,
and we were going to reciprocate those terraffts. That was
a negotiating tool to get them to the table to
start negotiating and bring these tariffs down on our goods
and opening up their markets to our goods, which would
(34:46):
lead to more jobs, more exports, more volume, more freight,
et cetera. Good for our country here and the people
working that is been going forward very rapidly. They're now
in the final stages trying to pull together a deal
with China which should bring some of those prices down
as well. But where there is an area that needs
(35:07):
to be tweaked, you put on a fifty percent terra
for something, then you look at some of those items
within those exports coming into this country, what would penalize
some of our people. He's done Exemptions one of the
things they're working on. I talked about this in one
of the previous segments talking about with the coffee prices,
possibly putting in an exemption to that to bring the
(35:28):
price of coffee down even though there's been droughts down
there and so on.
Speaker 3 (35:32):
One of the.
Speaker 4 (35:33):
Other areas that we've seen where prices have gone up
considerably is in meat prices. And when we've talked about
how there are droughts out west this I think I
saw a number where something like thirty percent of the
area where cattle graze is are under drought conditions, and
(35:54):
the feed costs are up. So when there's droughts, the
cattle cannot grays on the open land. They have to
be fed, and so with grain prices up, it becomes
very expensive to produce cattle, and so a lot of
people have thinned their herds to the point where we
are at the level in terms of the herds that
(36:16):
are in the United States are at levels we haven't
seen since we're at the levels where they were back
in nineteen fifty one. So we're talking about a seventy five,
seventy seventy two, seventy four years low. So of course
that's going you're going to have a dwindling supply. So
a lot of the beef that we have been importing
(36:38):
from other countries has been offsetting that to keep the
prices a little bit low, last lower than what they
would normally be. Trump suggested last week or last week
suggests that the US will be buying more beef from
Argentina and with that coming in should affect the prices
a little bit. But there were the cattlemen were not
(37:01):
too happy with that because they said that that would
artificially push down the prices and that they wouldn't be
making as much. And the way the story was written,
it said why cattlemen say Trump talk of Argentine beef
imports is no solution. Again, the headline didn't match the story.
It talked about some of the stuff that they have
(37:22):
to do and some of the things that they need
to do, and well as far as one of the
things in there talking about the drought conditions. The cattle
ranchers in Texas and around the country are concerned about
the screw worm, which is a parasitic fly that was
once eradicated in the United States, is threatening a comeback
(37:43):
on the Mexican border. They had an infestation of the
infestation of that down in the southern parts of Mexico
and it has already moved up almost halfway through the
country and getting close to the border.
Speaker 3 (37:57):
Now. I won't go into.
Speaker 4 (37:58):
The details of this because it is pretty gross what
this fly does and how it infects. But they have
seen it's not normally passed along to humans, but it
was passed on to a human And I thought it
was interesting because they talked about the Centers for the
Disease Control and Prevention identified a case of a flesh
(38:21):
eating parasite and a person in Maryland who returned to
the US after traveling to Al Salvador. H not where
the Maryland dad was from and could it possibly be No,
it's not Chris van Holland that went to his senator
from Maryland. Remember he went down there and had Margarita's
with kilmar Abrego Garcia. No, but it was apparently somebody
(38:43):
else who traveled down to El Salvador and got this
flesh eating disease. But what they've tried to do is
put these sterile flies to go down there and breed,
so it basically kills off. But these parasites if it
was eradicated in the United States and been eradicated for
Center for decades. Why can't that technology be put forth
(39:06):
and eradicate those diseases down in Mexico. I don't I
don't understand that. But again, that's one of the things
that the Trump administration is trying to do. They're trying
to be flexible in terms of importing beef or allowing
beef to be imported from different areas of the world,
to pull our prices down and get them back more reasonable. Now,
(39:27):
with these trade negotiations going on with China them moving
closer and closer to a deal, it's throwing closer one
of the areas that I thought was a done deal.
And I'm surprised that this is weird. Its ugly head
is Canada. Canada? All of a sudden, well Trump is
you know, we had they had that meeting with Mark
Carney in the in the Oval office, what was it
(39:50):
a week and a half ago, and they were chuckling
it up. They were seemed like they were fast friends.
It looks like they were, you know, really on the
same page and talking about things. Well, all of a sudden,
I don't know if he was getting some pressure from
the folks back home that hey, you're cozying up to
this guy.
Speaker 3 (40:08):
He's not.
Speaker 4 (40:09):
We are being it's a fair deal for the United States,
but it's hurting us up here. And I'm going to
go on a side note here. When I see some
of these people in the media when there is a
trade deal that is negotiated and it has accomplished, why
do they have to It's not like the people in
Canada can't watch our TV shows. And if our reporters
(40:33):
and Fox News is guilty of this, I've seen this
on a couple of occasions where they said, oh, you know,
Trump went in there and he just beat them to death.
They are now sucking up to him, and they are
just they we are eating their lunch.
Speaker 5 (40:48):
Now.
Speaker 3 (40:49):
You know, this is not.
Speaker 4 (40:50):
The type of thing you do in a If you've
ever been involved in athletics, and apparently some of these
hosts aren't, have never been involved in athletics and never
been involved in competition, you do not, absolutely do not
gloat over your opponent. If you beat that opponent, even
if you beat them badly, you always hear the coach
(41:13):
talking about, well, they put up a really good fight,
they had a really good defense. We just had a
really good day to Day, etc. You don't want to
give them ammunition. But apparently there's been something that ruffled
some feathers somewhere along the lines. Hope it's not been
the broadcast talking about this, but there's been some trade
negotiations between the two countries which has suddenly fallen apart,
(41:35):
and Trump has suspended trade negotiations with Canada. Now that's
happened once before and then eventually they got back to
the table. Was probably a negotiating tool. But I don't
know if you've seen this ad where I guess it's
Ontario that is running this ad talking about Ronald Reagan
(41:56):
where he was giving a speech talking about tariffs, and
if you just look at that commercial on the surface,
it looks pretty interesting from the standpoint of where he's saying,
the terrorists may feel good, it may bring in more
revenue and so on, but eventually the others are going
(42:18):
to retaliate and it's going to be bad for American
jobs and so on. They have spliced that speech out
because I read I've pulled up the speech from the
Reagan Foundation, and apparently the Reagan Foundation is suing the
government of Ontario for falsely portraying Ronald Reagan as opposing
(42:39):
all terrorists. And as a matter of fact, what Reagan
was actually talking about in that speech was, and this
was back in nineteen eighty seven, where he was talking
about implementing certain terrorifts to balance the playing field. And
if you listen to that speech and what he's saying,
he said that it may feel good on the part
(43:02):
and as he talked about as the United States feeling
good about raising terroriffs, but other people raised, uh than
raised their terrorists.
Speaker 3 (43:10):
We'll put the flip.
Speaker 4 (43:11):
Side on that and that that that that argument still
holds true, but doesn't hold true in this situation. The
other countries have already had their terrorifts on American goods.
They have closed their markets on our goods coming in. So,
in other words, and in terms of leveling the playing field,
(43:33):
we have increased our terroriffs on their goods to make
them more fair and free. And what they're trying to say,
or trying to hint through this commercial is that because
we are raising our terrorists, it's bad for the overall
economy between the two countries. They forget that they have
(43:56):
had outrageous terrafts on our products. Just in Pholtry, just
in dairy products a two hundred and ninety nine percent
tariff on our goods going into their country. Of course,
we're not going to be selling anything going in there.
Those markets are based in effect close to us, so
the argument that they're trying to make should be flipped
(44:18):
around on them. You guys have put these tariffs on.
You may feel good about having these terriffs. You may
be feeling good about collecting this money from the United States,
but at some point in time, we're going to raise
ours and level the playing field, which would be a
more fair and more true way of looking at that.
(44:40):
But I got to tell you, and that has upset
the trade negotiations. That one commercial has been one of
the areas that have been talked about of why the
trade negotiations between the two companies and countries have fallen apart.
Then you take into consideration that the Reagan Foundation looked
at that compared to what the speed each actually was
(45:01):
and said, this misrepresents what his speech was all about.
So just if you see that commercial, know that it's
a crock of crap and don't pay any attention to it. Well, folks,
we're up against clock here. Stay tuned for ati radios.
At the top of the hour, I'm Kevin Gordon, America's
Trucking Network seven hundred WLW.
Speaker 2 (45:20):
News, Traffic and Weather. News Radio seven hundred WLW Cincinnati.
Speaker 12 (45:28):
Could internal struggles be the key to the chiefs administrative leave?
Speaker 3 (45:33):
Well the top of the hour report I'm le
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