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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Episode Transcript
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Speaker 1 (00:05):
This is America's Trucking Network with Kevin Gordon.
Speaker 2 (00:10):
Lolcabre.
Speaker 3 (00:11):
Thanks for tuning in on this Wednesday morning. 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. And I,
(00:35):
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
(00:55):
stuff that I was seeing in 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, the shifting
(01:19):
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, the
amount of flow, I mean, you not only have the
(01:41):
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. And I
was not aware of how high and how hilly that
(02:04):
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 of Cuba,
(02:25):
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 north east
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 a direct landfall in the United States. This hurricane
season began June first and ends November thirtieth, knock on
(03:08):
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 for
(03:29):
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. Now the other two
(03:51):
pretty much stayed out 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
(04:13):
got about a little about 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
(04:34):
the thing that kept catching my 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 kind of talk, This
(04:57):
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.
(05:17):
We saw gas prices in twenty 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
(05:37):
the number three? Yeah, three oh four, 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
(06:00):
and every time they do one of 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, digging through the
(06:25):
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 dollars up to one
(06:46):
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 to raise those prices, if the
Chinese labor there, and we talked about at the time,
how the labor over there is so cheap that they're
(07:09):
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 yet our
(07:29):
employers over here are paying thirty seven dollars on average
for employees in terms of benefits and everything else.
Speaker 4 (07:36):
Now that's across the board.
Speaker 3 (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 prices 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 4 (09:08):
We'll pick this up.
Speaker 3 (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
will be crowned on Friday, Xfinity Champion Saturday, then the
Cup Champ on Sunday. Who will win the Cup Series
twenty twenty five title. The King Richard Petty and his
longtime crew chief Dale Endment on their picks on the
Petty Podcast. Will it be Denny Hamlin, Chase Briscoe, Kyle
Larson or William Byron?
Speaker 4 (09:41):
Right now? It's the tasip and there's no way to
predict it or anything. It'll wind it being the guy
that wins it as the one that's supposed to. You know,
that's a tough question. The way the twenty four run.
Speaker 7 (09:54):
Yes, you would say the twenty four, But racing probably
owes Denny Hamle as long as he's been running and
good as he's run, and he's certainly a champion without
winning a championship. And maybe I ain't gonna say one
of the four wheel I love.
Speaker 1 (10:12):
This is the Racing Report on America's Drugging Network on
seven hundred WLWI sang Dennis for a t.
Speaker 8 (10:20):
And on the podcast Health Stuff, we are tackling all
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Speaker 11 (11:11):
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I'm Kevin Board in America's Trucking Network seven hundred WLW.
Speaker 4 (11:53):
We're talking about inflation numbers.
Speaker 3 (11:55):
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 stuff that is bought on
a regular basis. And generally the two big categories there
(12:17):
are food and energy because depending upon the year, depending
you know, at the time of the year, you've gotten
the springtime, certain fruits.
Speaker 4 (12:25):
Vegetables, et cetera that are readily available.
Speaker 3 (12:27):
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 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,
(12:50):
and then look at the other core items in the
as far as inflation is concerned. When you add that
back and they're talking about the biggest driver of inflation
this past month 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
(13:11):
to the side as well to get a full idea
or you know, because of the volatility in those areas,
to see what the actual food prices are.
Speaker 4 (13:20):
And I just got curious.
Speaker 3 (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?
Speaker 4 (13:30):
So I dug into it a little bit.
Speaker 3 (13:32):
We here in the United States, between Hawaii and uh,
what was it to Puerto Rico, we only generate about
one percent of the amount of coffee that is consumed
in the United States. The rest of it has to
be imported. So already we've got a situation where that
stuff has to travel. But where you have a situation
(13:52):
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 drink here in the United States is from
South America. And when you have a drought situation down there,
(14:13):
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 tariffs have added to that to a certain percentage.
But when you take into consideration the costs we've documented
(14:36):
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.
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. Breaking
(15:00):
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 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
(15:22):
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 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 that
are actually absorbing these increases. As far as tariffs, now,
there's been some movement because there is a program that
(15:44):
if you've got rare things that are not actually available
in the United States and 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.
Speaker 4 (16:01):
But in the.
Speaker 3 (16:02):
Story that I read, they talk about this. Nicky Bravo,
the co owner co owner of Momentum Coffee in Chicago,
raised her prices by fifteen 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
(16:23):
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 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
(16:48):
in twenty twenty put forth a new minimum wage law
where the minimum wage in 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
(17:11):
stores or for those companies that have employees went up
two and a half percent. Now, 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
(17:34):
regurgitators in the mainstream media will have you believe that
all these price increases are a result of tariff, Whereas
when you look at what is pushing 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
(17:55):
increase in terms of the paper supplies and so on.
So there are others in here that are adding to
these prices, and to blame it 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,
federalgurdstairs and mainstream media. Again, it's not like we don't
(18:17):
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 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.
Speaker 4 (18:35):
But I thought it was interesting.
Speaker 3 (18:37):
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 twenty one raise that
to fifteen dollars an hour, and then from that point
on two and a half percent, depending upon inflation, was
(18:57):
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 price of coffee and stuff,
I mean they're talking about that. You know, these restaurants
are saying is September, the cost the average price for
(19:18):
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 point six percent increase. But where
were these people? Where were these people whining about inflation?
(19:39):
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 dollar twenty five.
Speaker 4 (19:55):
Where was the outrage?
Speaker 2 (19:57):
Then?
Speaker 4 (19:57):
All we heard was, Oh.
Speaker 3 (19:58):
It's transitory, it's going to go, it's only temporary.
Speaker 4 (20:02):
We don't have to worry about it.
Speaker 3 (20:03):
Well, now, all of a sudden, when prices are coming,
you don't hear anything about eggs anymore.
Speaker 9 (20:07):
Do you.
Speaker 3 (20:08):
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 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,
(20:31):
America's Truck and Network seven hundred WLW.
Speaker 12 (20:36):
News Traffic and Weather. News Radio seven hundred WLW, Cincinnati.
Speaker 2 (20:44):
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 at him.
She says she confronted Mike Johnson over the GOP's lack
(21:04):
of a healthcare plan, even calling out health 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
(21:26):
for 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 12 (21:41):
The ladies forecast from the Train Heating and Cooling Weather
Center on news radio seven hundred WLW.
Speaker 5 (21:49):
Stating 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, Chief Meteorologist Steve Rawley,
(22:14):
News Radio seven hundred WLW.
Speaker 4 (22:17):
Right now fifty two degrees.
Speaker 2 (22:19):
In Cincinnati, Ohio, schools are urging voters to approve local
levies 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, Man.
Speaker 12 (22:55):
Seven one hundred WLW sports.
Speaker 10 (22:58):
The Bengals on Tuesday released defensive tackle Mike Penal and
play center Matt Lee and linebacker Shaka Hayward on the
injured list, leaving Cincinnati with three open spots under 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 2 (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 4 (23:38):
Hey Cincinnati hat, former Bengal and Pro Football Hall of
Famer Anthony Munos. In two thousand and two, I started
the Anthony Munho Foundation.
Speaker 12 (23:44):
To provide Tystate 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 cloudy Wednesday, with rain likely especially by
late afternoon. O hi A fifty two rain continuing Wednesday night,
then rain continues the first part of Thursday. Any by
the early afternoon AHIO fifty one. Nationally, Overnight and into Wednesday,
light snow will be seen over parts of the Northern
(24:08):
Cascades and the Northern Rockies.
Speaker 3 (24:16):
Seven hundred WLW. I'm Kevin Gordon. This is America's 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 at the end of
last week. We haven't had a chance to get to it,
but lower mortgage rates push home sales.
Speaker 4 (24:44):
Higher in September.
Speaker 3 (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
(25:07):
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 4 (25:27):
Which would be good, but it should be closer.
Speaker 3 (25:29):
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 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 business
(25:51):
by buying additional equipment or expanding the buildings you operate in.
All these things require financing, and if financing is high,
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 that when
(26:14):
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 rates come down,
(26:37):
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 4 (26:58):
So let's just go through the numbers.
Speaker 3 (27:00):
Sales were 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.
Speaker 4 (27:12):
According to National Association and Realtors.
Speaker 3 (27:14):
Sales were four point one percent higher compared with September
of last year. Now, that would you think would 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
(27:38):
the mainstream media aren't going to cover it. All they
want to cover is the doom and gloom. Now, 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. The average
rate on a thirty year fixed fixed grade started in July,
(28:02):
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 months ago
that talked about if interest rates come down at half
a percentage point, something like one hundred and fifty thousand
(28:26):
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. They're going to be going into a home.
They're probably going to have a bigger home than the
(28:46):
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 account.
And if the economy is good, that means that more
stuff is going to have to be shipped, and you
guys are going to be a lot busier out there
(29:07):
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,
the difference between the type of house you can you know,
what your price would be at certain interest rates, and
(29:30):
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
are astronomical, and you know, I can post something about that,
(29:51):
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 affordable comes down and
more people can jump into the market. And the fact
that Federal reserve their interest rates that they talk about,
which is the borrowing rate that banks do when they
(30:13):
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
rate starts coming down. That's when you start seeing a
(30:36):
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.
That's a good sign. 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,
(30:58):
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 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
(31:18):
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 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.
(31:39):
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. With lower interest rates, our economy
will absolutely explode for the good. And I've been talking
about all along. You see, we've what we've seen as
(32:01):
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 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
(32:22):
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 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
(32:44):
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 free trade. And so
if this economy I still I am. I'm still maintaining
the fact that by the end of this year, Okay,
we've only got what two more months, basically at the
(33:07):
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, 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
(33:28):
Jerry Powell and the FED. I'm Kevin Gordon. America's truck
and Network seven hundred WLW.
Speaker 4 (33:35):
Run a business and not thinking about.
Speaker 3 (33:38):
This is America's truck in Network seven hundred WLW.
Speaker 4 (33:42):
I'm Kevin Gordon.
Speaker 3 (33:43):
One of the things I talked about in the first segment,
we're 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 extremely flexible in terms
(34:06):
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 terrafts if the other
countries don't reduce their terrafs. And he had the different
(34:26):
charts where it showed what they charge our goods going
into their country versus what we charge, and we were
going to reciprocate those terraffs. 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 lead to more jobs,
(34:48):
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
of 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 to be tweaked,
(35:08):
you put on a fifty percent terra for something, then
you look at some of those items within those exports
coming into this country 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 price of coffee down
(35:30):
even though there's been droughts down there and so on.
Speaker 4 (35:33):
One of the.
Speaker 3 (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.
Speaker 4 (36:57):
Affect the prices a little bit.
Speaker 3 (36:59):
But there were or the cattlemen were not 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
(37:21):
of the stuff that they have 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. On the Mexican border,
(37:44):
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 4 (37:57):
Now.
Speaker 3 (37:57):
I won't go into 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
(38:20):
a flesh 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 margaritas with kilmar Abrego Garcia. No, but it
(38:43):
was apparently somebody 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
(39:05):
put forth 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 with these trade negotiations going on
(39:29):
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,
(39:49):
what was it a week and a half ago, and
they were chuckling it up. They were seemed like there
were fast friends. It looks like they were, you know,
really on the same page and talk 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 4 (40:08):
He's not.
Speaker 3 (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 4 (40:48):
Now. You know, this is not.
Speaker 3 (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 athletes 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. It 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
(41:56):
Reagan where he was giving a speech talking about terror
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 terroiffts 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 then
raised their terrorists.
Speaker 4 (43:10):
We'll put the flip.
Speaker 3 (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 terrorists 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 terrorifts 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 terroriffts on our products, just poultry, 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 around
(44:19):
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 speech actually was and said,
(45:01):
this misrepresents what his speech was all about. So just
if you see that commercial, know that it's a Crocker
crap and don't pay any attention to it. Well, folks,
we're up against clock here. Stay tuned for ATI Radio
At the top of the eer, I'm Kevin Gordon, America's
Trucking Network. Seven hundred WLW.
Speaker 12 (45:20):
News Traffic and Weather News Radio, seven hundred WLW Cincinnati.
Speaker 10 (45:28):
Could internal struggles be the key to the chiefs administrative leave?
Speaker 4 (45:33):
Well the top of the hour report I'm leave
This is America's Trucking Network with Kevin Gordon.
Speaker 2 (00:10):
Lolcabre.
Speaker 3 (00:11):
Thanks for tuning in on this Wednesday morning. 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. And I,
(00:35):
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
(00:55):
stuff that I was seeing in 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, the shifting
(01:19):
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, the
amount of flow, I mean, you not only have the
(01:41):
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. And I
was not aware of how high and how hilly that
(02:04):
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 of Cuba,
(02:25):
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 north east
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 a direct landfall in the United States. This hurricane
season began June first and ends November thirtieth, knock on
(03:08):
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 for
(03:29):
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. Now the other two
(03:51):
pretty much stayed out 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
(04:13):
got about a little about 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
(04:34):
the thing that kept catching my 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 kind of talk, This
(04:57):
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.
(05:17):
We saw gas prices in twenty 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
(05:37):
the number three? Yeah, three oh four, 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
(06:00):
and every time they do one of 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, digging through the
(06:25):
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 dollars up to one
(06:46):
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 to raise those prices, if the
Chinese labor there, and we talked about at the time,
how the labor over there is so cheap that they're
(07:09):
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 yet our
(07:29):
employers over here are paying thirty seven dollars on average
for employees in terms of benefits and everything else.
Speaker 4 (07:36):
Now that's across the board.
Speaker 3 (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 prices 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 4 (09:08):
We'll pick this up.
Speaker 3 (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
will be crowned on Friday, Xfinity Champion Saturday, then the
Cup Champ on Sunday. Who will win the Cup Series
twenty twenty five title. The King Richard Petty and his
longtime crew chief Dale Endment on their picks on the
Petty Podcast. Will it be Denny Hamlin, Chase Briscoe, Kyle
Larson or William Byron?
Speaker 4 (09:41):
Right now? It's the tasip and there's no way to
predict it or anything. It'll wind it being the guy
that wins it as the one that's supposed to. You know,
that's a tough question. The way the twenty four run.
Speaker 7 (09:54):
Yes, you would say the twenty four, But racing probably
owes Denny Hamle as long as he's been running and
good as he's run, and he's certainly a champion without
winning a championship. And maybe I ain't gonna say one
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This is the Racing Report on America's Drugging Network on
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I'm Kevin Board in America's Trucking Network seven hundred WLW.
Speaker 4 (11:53):
We're talking about inflation numbers.
Speaker 3 (11:55):
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 stuff that is bought on
a regular basis. And generally the two big categories there
(12:17):
are food and energy because depending upon the year, depending
you know, at the time of the year, you've gotten
the springtime, certain fruits.
Speaker 4 (12:25):
Vegetables, et cetera that are readily available.
Speaker 3 (12:27):
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 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,
(12:50):
and then look at the other core items in the
as far as inflation is concerned. When you add that
back and they're talking about the biggest driver of inflation
this past month 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
(13:11):
to the side as well to get a full idea
or you know, because of the volatility in those areas,
to see what the actual food prices are.
Speaker 4 (13:20):
And I just got curious.
Speaker 3 (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?
Speaker 4 (13:30):
So I dug into it a little bit.
Speaker 3 (13:32):
We here in the United States, between Hawaii and uh,
what was it to Puerto Rico, we only generate about
one percent of the amount of coffee that is consumed
in the United States. The rest of it has to
be imported. So already we've got a situation where that
stuff has to travel. But where you have a situation
(13:52):
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 drink here in the United States is from
South America. And when you have a drought situation down there,
(14:13):
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 tariffs have added to that to a certain percentage.
But when you take into consideration the costs we've documented
(14:36):
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.
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. Breaking
(15:00):
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 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
(15:22):
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 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 that
are actually absorbing these increases. As far as tariffs, now,
there's been some movement because there is a program that
(15:44):
if you've got rare things that are not actually available
in the United States and 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.
Speaker 4 (16:01):
But in the.
Speaker 3 (16:02):
Story that I read, they talk about this. Nicky Bravo,
the co owner co owner of Momentum Coffee in Chicago,
raised her prices by fifteen 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
(16:23):
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 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
(16:48):
in twenty twenty put forth a new minimum wage law
where the minimum wage in 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
(17:11):
stores or for those companies that have employees went up
two and a half percent. Now, 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
(17:34):
regurgitators in the mainstream media will have you believe that
all these price increases are a result of tariff, Whereas
when you look at what is pushing 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
(17:55):
increase in terms of the paper supplies and so on.
So there are others in here that are adding to
these prices, and to blame it 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,
federalgurdstairs and mainstream media. Again, it's not like we don't
(18:17):
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 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.
Speaker 4 (18:35):
But I thought it was interesting.
Speaker 3 (18:37):
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 twenty one raise that
to fifteen dollars an hour, and then from that point
on two and a half percent, depending upon inflation, was
(18:57):
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 price of coffee and stuff,
I mean they're talking about that. You know, these restaurants
are saying is September, the cost the average price for
(19:18):
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 point six percent increase. But where
were these people? Where were these people whining about inflation?
(19:39):
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 dollar twenty five.
Speaker 4 (19:55):
Where was the outrage?
Speaker 2 (19:57):
Then?
Speaker 4 (19:57):
All we heard was, Oh.
Speaker 3 (19:58):
It's transitory, it's going to go, it's only temporary.
Speaker 4 (20:02):
We don't have to worry about it.
Speaker 3 (20:03):
Well, now, all of a sudden, when prices are coming,
you don't hear anything about eggs anymore.
Speaker 9 (20:07):
Do you.
Speaker 3 (20:08):
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 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,
(20:31):
America's Truck and Network seven hundred WLW.
Speaker 12 (20:36):
News Traffic and Weather. News Radio seven hundred WLW, Cincinnati.
Speaker 2 (20:44):
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 at him.
She says she confronted Mike Johnson over the GOP's lack
(21:04):
of a healthcare plan, even calling out health 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
(21:26):
for 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 12 (21:41):
The ladies forecast from the Train Heating and Cooling Weather
Center on news radio seven hundred WLW.
Speaker 5 (21:49):
Stating 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, Chief Meteorologist Steve Rawley,
(22:14):
News Radio seven hundred WLW.
Speaker 4 (22:17):
Right now fifty two degrees.
Speaker 2 (22:19):
In Cincinnati, Ohio, schools are urging voters to approve local
levies 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, Man.
Speaker 12 (22:55):
Seven one hundred WLW sports.
Speaker 10 (22:58):
The Bengals on Tuesday released defensive tackle Mike Penal and
play center Matt Lee and linebacker Shaka Hayward on the
injured list, leaving Cincinnati with three open spots under 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 2 (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 4 (23:38):
Hey Cincinnati hat, former Bengal and Pro Football Hall of
Famer Anthony Munos. In two thousand and two, I started
the Anthony Munho Foundation.
Speaker 12 (23:44):
To provide Tystate 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 cloudy Wednesday, with rain likely especially by
late afternoon. O hi A fifty two rain continuing Wednesday night,
then rain continues the first part of Thursday. Any by
the early afternoon AHIO fifty one. Nationally, Overnight and into Wednesday,
light snow will be seen over parts of the Northern
(24:08):
Cascades and the Northern Rockies.
Speaker 3 (24:16):
Seven hundred WLW. I'm Kevin Gordon. This is America's 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 at the end of
last week. We haven't had a chance to get to it,
but lower mortgage rates push home sales.
Speaker 4 (24:44):
Higher in September.
Speaker 3 (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
(25:07):
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 4 (25:27):
Which would be good, but it should be closer.
Speaker 3 (25:29):
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 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 business
(25:51):
by buying additional equipment or expanding the buildings you operate in.
All these things require financing, and if financing is high,
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 that when
(26:14):
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 rates come down,
(26:37):
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 4 (26:58):
So let's just go through the numbers.
Speaker 3 (27:00):
Sales were 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.
Speaker 4 (27:12):
According to National Association and Realtors.
Speaker 3 (27:14):
Sales were four point one percent higher compared with September
of last year. Now, that would you think would 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
(27:38):
the mainstream media aren't going to cover it. All they
want to cover is the doom and gloom. Now, 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. The average
rate on a thirty year fixed fixed grade started in July,
(28:02):
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 months ago
that talked about if interest rates come down at half
a percentage point, something like one hundred and fifty thousand
(28:26):
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. They're going to be going into a home.
They're probably going to have a bigger home than the
(28:46):
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 account.
And if the economy is good, that means that more
stuff is going to have to be shipped, and you
guys are going to be a lot busier out there
(29:07):
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,
the difference between the type of house you can you know,
what your price would be at certain interest rates, and
(29:30):
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
are astronomical, and you know, I can post something about that,
(29:51):
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 affordable comes down and
more people can jump into the market. And the fact
that Federal reserve their interest rates that they talk about,
which is the borrowing rate that banks do when they
(30:13):
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
rate starts coming down. That's when you start seeing a
(30:36):
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.
That's a good sign. 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,
(30:58):
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 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
(31:18):
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 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.
(31:39):
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. With lower interest rates, our economy
will absolutely explode for the good. And I've been talking
about all along. You see, we've what we've seen as
(32:01):
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 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
(32:22):
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 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
(32:44):
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 free trade. And so
if this economy I still I am. I'm still maintaining
the fact that by the end of this year, Okay,
we've only got what two more months, basically at the
(33:07):
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, 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
(33:28):
Jerry Powell and the FED. I'm Kevin Gordon. America's truck
and Network seven hundred WLW.
Speaker 4 (33:35):
Run a business and not thinking about.
Speaker 3 (33:38):
This is America's truck in Network seven hundred WLW.
Speaker 4 (33:42):
I'm Kevin Gordon.
Speaker 3 (33:43):
One of the things I talked about in the first segment,
we're 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 extremely flexible in terms
(34:06):
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 terrafts if the other
countries don't reduce their terrafs. And he had the different
(34:26):
charts where it showed what they charge our goods going
into their country versus what we charge, and we were
going to reciprocate those terraffs. 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 lead to more jobs,
(34:48):
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
of 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 to be tweaked,
(35:08):
you put on a fifty percent terra for something, then
you look at some of those items within those exports
coming into this country 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 price of coffee down
(35:30):
even though there's been droughts down there and so on.
Speaker 4 (35:33):
One of the.
Speaker 3 (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.
Speaker 4 (36:57):
Affect the prices a little bit.
Speaker 3 (36:59):
But there were or the cattlemen were not 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
(37:21):
of the stuff that they have 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. On the Mexican border,
(37:44):
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 4 (37:57):
Now.
Speaker 3 (37:57):
I won't go into 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
(38:20):
a flesh 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 margaritas with kilmar Abrego Garcia. No, but it
(38:43):
was apparently somebody 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
(39:05):
put forth 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 with these trade negotiations going on
(39:29):
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,
(39:49):
what was it a week and a half ago, and
they were chuckling it up. They were seemed like there
were fast friends. It looks like they were, you know,
really on the same page and talk 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 4 (40:08):
He's not.
Speaker 3 (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 4 (40:48):
Now. You know, this is not.
Speaker 3 (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 athletes 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. It 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
(41:56):
Reagan where he was giving a speech talking about terror
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 terroiffts 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 then
raised their terrorists.
Speaker 4 (43:10):
We'll put the flip.
Speaker 3 (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 terrorists 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 terrorifts 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 terroriffts on our products, just poultry, 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 around
(44:19):
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 speech actually was and said,
(45:01):
this misrepresents what his speech was all about. So just
if you see that commercial, know that it's a Crocker
crap and don't pay any attention to it. Well, folks,
we're up against clock here. Stay tuned for ATI Radio
At the top of the eer, I'm Kevin Gordon, America's
Trucking Network. Seven hundred WLW.
Speaker 12 (45:20):
News Traffic and Weather News Radio, seven hundred WLW Cincinnati.
Speaker 10 (45:28):
Could internal struggles be the key to the chiefs administrative leave?
Speaker 4 (45:33):
Well the top of the hour report I'm leave
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