October 30, 2025 • 46 mins
Kevin covers the following stories: update on Hurricane Melissa's path; the Federal Reserve announced its decision on interest rate cuts; the Conference Board released their Consumer Confidence Index; the difference between what is being reported vs what the people are concerned about; Kevin has the details, sifts through the data, puts the information into historical perspective, offers his insights and opinions.
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Speaker 1 (00:03):
This is America's Truncking Network with Kevin Gordon.
Speaker 2 (00:08):
Welcome aboard, thanks for tuning in on this Thursday morning.
Who says nothing good happens after midnight. Apparently people that
aren't listening to America's struck a network that I can
tell you. Hurricane Melissa is still turning away in the Atlantic.
Speaker 3 (00:26):
And what is.
Speaker 2 (00:26):
Interesting is that as it hit Jamaica, which the devastation
there is incredible, and again hearts and prayers go out
to the folks there. Once it crossed over Jamaica, it
was going about nine miles per hour and it has
gone it has increased in speed about five times. It's
now up around forty five to fifty miles per hour
(00:50):
moving towards actually went through Haiti, went through the southeastern yes,
the southeastern portion of Cuba, Guantana Obey, and it's barreling
its way up to the Bahamas, which will hit probably
later on today into tonight. So this is a fast
moving storm. But the trajectory of this is still where
(01:12):
it's veering off away from the coast of the United States,
so we're not going to get a direct hit there,
but it's going to be veering off to the northeast
from that point. But what we've been seeing in our
outlying storm surges, and especially along the North Carolina coast.
You remember a couple of weeks ago we had what
was it about twelve structures that fell because of the
(01:36):
storm surges. They're out there on the you know, they're
out there on the beaches, basically on stilts. Supposed to
take into consideration that when the storm surges come in,
that they're high enough to withstand that. But apparently the
amount of water and the amount of the waves hitting
those structures hit, those stilts broke and those houses collapsed,
(01:59):
about twelve of them. There's been an additional four that
were lost just this past well overnight. It was there
around I think it was a Hatteras Island, Derek County, Buxton,
North Carolina. The four structures that came down were actually
in Buxton, North Carolina. So again we're not getting direct hits.
(02:21):
Up to this point, we've lost what sixteen structures compared
to what would have had what has happened in the
hurricane seasons over the last few years. That is remarkable
and hopefully our good luck will continue.
Speaker 3 (02:35):
The Federal Reserve Lion Jerry Powell and.
Speaker 2 (02:39):
The fellas, ladies and gentlemen, I should say, lowered interest
rates by a quarter percentage point. Now, I was waiting
for the report at noon or at two o'clock generally
they do their meeting and they come out at two
o'clock and Lion Jerry Powell steps up to the microphone
and gives his spiel as to why they did or
(02:59):
did not cut interest rates or what they're doing and
their explanation behind that. He actually ran a little bit
late yesterday, didn't come out until about ten after two,
which is kind of unusual. And what was interesting is well,
actually it was interesting some of the things that were
said but not said as well. And it's funny. You
(03:22):
know where I've stood on this for the entire year.
I think interest rates should be down at least by
a full percentage point at this point. That started the
year off at round five percent. For four and a
half to five percent, I think it should still. I
should think it should be down at four percent or
below already, and then another quarter percentage point reduced this time,
(03:46):
because that is the thing, in my opinion, that's holding
back the economy. From day one, we kept hearing from
the Federal Reserve that they're reluctant to lower interest rates
because they won the inflation rate down around two percent.
We pointed out on the program that when they talk
about the Social Security increases, that cost a living allowance
(04:07):
that comes through every year, that's based on what the
inflation rate is that year. That has averaged since two
thousand two point six percent, So around over the last
twenty five years, the average inflation rate has been two
point six percent. Why the Federal Reserve has suddenly targeted
two percent and said that the inflation rate should be
(04:30):
around two percent when history says it's around two point
six percent has always puzzled me. Plus the fact that
when you take into consideration when we look at the
different contracts that have gone through. I've spelled that out
on this program, and numerous times we've had major contracts
signed by the UAW, major contracts signed by the railroad workers,
(04:52):
major contracts by both the East Coast and the West
Coast dock workers, and then we've had railroad and UPS, Yes,
UPS signed a big contract. So you've got these wages
that have gone up tremendously. As a matter of fact,
they talked about that the wage increase, as far as
UAW is concerned, would increase the price of a car
(05:13):
by nine hundred dollars.
Speaker 3 (05:15):
We started seeing the other day. It was a couple
of weeks ago.
Speaker 2 (05:19):
We were talking about the inflation having to do with cars,
and they were saying, well, because of terraffs in this
blah blah blah blah blah, that the price of a
car has gone up, averaged up nine hundred dollars. And
I said, WHOA, pull the reins back on that, folks.
Let's go back to the story that was talked about
when that contract was signed, that it would add about
(05:40):
nine hundred.
Speaker 3 (05:41):
Dollars to the cost of the vehicle.
Speaker 2 (05:42):
So all this a lot of times, what we're seeing
is that people are blaming cost increases on tariffs as
opposed to cost increases based on salaries and wages. Wage
increases we talked about just yesterday, we had talking about
a story out of Chicago talking about this person who
(06:03):
owns these coffee shops and the price of coffee and
having to raise her prices by fifteen percent, and she's
talking about terrorists and all this. Yet when you look
at the minimum wage in Chicago, it has gone from
ten dollars an hour in twenty twenty up to sixteen
dollars and sixty cents now, and it just went up
(06:24):
in July. So everybody seems to be forgeting about it.
And again I'm not talking I'm not saying that people
don't deserve pay increases, but pay increases are increases.
Speaker 3 (06:37):
And if the products that you're selling.
Speaker 2 (06:40):
The products that you are providing are the cost of that.
Built into that are salaries and wages. If wages go up,
your cost go up. If your cost go up, you're
going to pass those costs along to your customers. And
so be be honest about it and quit this business.
This is almost like going back to right after the pandemic.
(07:03):
Remember all the stuff talking about supply chains. Now there
were different supply chain issues. Because you can't stop an economy.
You can't shut down every manufacturing facility in the country,
you can't close up every business that's around, shut down
every restaurant, and then gear up and snap your fingers
and everything goes back to normal. There is a gearing up.
(07:25):
You're going to have to build supplies. You're going to
have to go into these factories and start from scratch,
put the raw materials together, process that and get it available.
So there were supply chain issues being able to supply
what people were wanting, the whole thing in different service areas.
I've talked about that on this program numerous times. The
(07:46):
fact that we may recall when you went into the
stores there were hardly in employees in there, and it
was tough to find somebody or find some help to
find anything. Customer service was at a premium because had
been laid off, they were slow to well, they couldn't
rehire some of the people. And because of the stimulus
checks that were being made available and then the state
(08:10):
unemployment payments that were going out, people were saying, I
can't afford to go back to work. I'm making too
much staying at home getting stimulus checks and unemployment from
the state. So that should have been backed off a
little bit quicker so that people got back into the workforce.
Speaker 3 (08:28):
So we had supply chain issues.
Speaker 2 (08:30):
We had problems with employees being hired and being able
to service, but everybody blamed it on supply chain issues,
when in fact it was just a matter of the
system gearing up and the employees being available. Same thing
with these tariffs, all we keep all we've been hearing
since Liberation Day on April second, that inflation was going
(08:51):
to go out of control. People were predicting recession. People
were talking about inflation was going to be in the
high single digits. And inflation has been below three percent
since then. And every time the inflation rate comes out
and they say, well, it's below three percent, it's gone up.
It's crept up from two point six to two point
seven or maybe two point seven to two point whatever
(09:13):
it's been, it's been below three percent. And every time
they talk about this inflation rate, they say, well, but
the effect of tariffs will be coming on later on. Well,
you're now talking about from from basically April, May, June, July, August, September, October.
You know, you keep saying that this is gonna happen,
gonna happen, gonna happen, and it hasn't happened, and yet
(09:35):
people keep saying, well, it's gonna happen.
Speaker 3 (09:38):
We'll pick this up.
Speaker 2 (09:38):
I got some of the comments that Lion Jerry Powell
said about during his press conference. I'm Kevin Gordon, America's
struck a network seven hundred WLW.
Speaker 1 (09:50):
I love this is the briefing report on America's drug
A Network on seven hundred WLW.
Speaker 4 (09:57):
The Infinity Series Champion will be crowded Saturday night and
Phoenix Connors, Zilich, Carson Gwaffle, Also, Justin Olgeyer and Jesse
Love are in the Exfinity Final four. Danny Hamlin, who
will run for the Cup Series twenty twenty five titles
Sunday on Dirty Will Media, on his pick for the
Exfinity champ.
Speaker 5 (10:14):
The seven car last year was very, very dominant. You
gotta think he's going to be pretty tough again, but
you also got the eighty eight. I think it's still
going to be a close one. Justin's experience at Phoenix
will counter whatever success the eighty eight has had throughout
the season, and so I think that's going to be
a one A, one B type of race, and then
Jesse will be right there near them, and then Carson
(10:37):
is going to need to find some speed. Who's your pick?
Then I'll give the nod to Justin. His car is
going to be just as prepared as the eighty eight.
He's not going to get beat on equipment.
Speaker 3 (10:45):
Remember last year, all the mistakes he had and to
still come back and Yeah, they're lightning fast. Justin's my pick.
Speaker 4 (10:50):
Sam Meyer has been suspended by NASCAR from Saturday's Exfinity
Series race in Phoenix after wrecking Jeb Burton on the
cool down lap last weekend at Martinsville. Alig Racing will
pause its Exfinity Series program for the twenty twenty six season.
Since debuting in the series full time in twenty sixteen,
Colleague has won twenty seven races and ten seasons, including
(11:12):
a pair of regular season championships from aj Allmendinger in
twenty twenty one and twenty twenty two.
Speaker 1 (11:19):
This is the racing report on America's drugging network on
seven hundred WLW.
Speaker 4 (11:25):
Sake Dennis for reporting for a t N.
Speaker 2 (11:30):
Progressive Commercial Insurance protects truck owners with specialized coverages for
heavy drugs.
Speaker 3 (11:35):
Insure commercial vehicles from pickup trucks.
Speaker 2 (11:38):
Vance Trek was basically from the New York Times. Federal
Reserve cut interest rates for the second time this year
on Wednesday, despite officials having only a partial view of
how the economy is faring because of the shutdown. The
Central Bank voted the lower barring caused by a quarter
percentage point down to three point seven three point to
(12:00):
four percent. Wednesday's decision, which brought interest rates below four
percent for the first time since late twenty twenty two,
was a divisive one. Two officials descended for different reasons.
Speaker 3 (12:12):
Stephen I.
Speaker 2 (12:14):
Marin the newest member of the FED. He's also part
of the Trump administration. He was appointed a FED. He
wanted to see a half a percentage point decrease, which
basically is agreeing with Kevin Gordon from americastruck a network.
I think the interest rate should have been down at
least a half a percentage point. Let me see was
(12:35):
calling for a half percent interest rate reduction like he
did in September.
Speaker 3 (12:39):
Jeffrey R.
Speaker 2 (12:40):
Schmid, president of the Federal Reserve Bank of Kansas City,
one of the Federal Reserve, instead to hold interest rate
steady at the previous level of four percent to four
point twenty five percent. Is this guy smoking crack or something?
Doesn't he Every time we talk about every time we
hear about stuff.
Speaker 3 (13:01):
I mean, we've had stories. Over the last couple of weeks.
Speaker 2 (13:04):
We had what was the number eighty one The number
of people refinancing their homes went up eighty one percent
in the month of September because of the interest rates
on home loans coming down. We just had the story
the other day talking about that the number of houses
that were sold went up one point five percent, that
(13:28):
they're on track to sell over four million homes existing homes,
and what's going on there because of interest rates coming
down a half a percentage point. This is the thing
that spurs the economy. Anybody talking about adding a piece
of equipment, Anybody talking about adding a new truck, fleets
(13:49):
expanding their number of trucks that they are interested in.
Somebody wanting to buy a piece of equipment, somebody wanting
to jump into the new home market. It is all
based on interest rates and what your cost of doing
that would be. Now, again, I will stress that you
need to sit down between now and the end of
the year with your accountant, your tax attorney, or whoever
(14:12):
you get your tax advice. And if you don't, if
you're not getting tax advice from somebody, pay the couple
one hundred dollars or so to get the proper advice.
Speaker 3 (14:21):
Because there is.
Speaker 2 (14:22):
That Section one seventy nine deduction that is available for
new equipment. You can deduct in a single year up
to one million, two hundred and fifty thousand dollars in
purchases off of your income, lower your your prop Basically
on paper, it's a paper number, it's not cash, but
(14:45):
it shows a negative a loss for the year. You
would actually not be paying taxes on that. So look
at you know it's a it's a straight deduction off
your tax return. And if you're getting this one point
two five million dollars, now you know if you're buy
a piece of equipment for two hundred and forty five
thousand or one hundred and eight whatever that equipment is,
(15:07):
that is fully deductible in the first year. Now you
have to weigh that off. And again you need to
sit down with attorney or somebody that prepares taxes and
somebody knows what the hell they're talking about for your
individual situation. I can't tell you what to do for
your individual situation other than go talk to somebody about
what you have, how you do things. So you need
(15:28):
to weigh the possibility of purchasing a new truck or
a new piece of equipment based on what your maintenance
costs are up to this point, because if your truck
is off the road, you're not earning any income, So
you got to factor that into it. Plus you also
have to factor in what your maintenance costs are going
to be, and then you have to balance that off
(15:49):
what the interest rate on a new truck would be
if you're borrowing that, But then what that would do
to your year's income in terms of taking that as
a deduction off your taxes and what you would be
saying saying as far as taxes.
Speaker 3 (16:01):
But again you need to sit down with your.
Speaker 2 (16:03):
Tax accountant, with somebody that knows what they're doing as
far as your individual situation and make that decision. So again,
interest rates are an important factor out there, and that
is what's holding a lot of people back from neither
jumping into the housing market, jumping into buying a new truck,
buying a new car, or anything along those lines, any
of the major purchases. But again getting back to the
(16:25):
line Jerry Powell and his statement. In his policy statement,
the Fed seemed to adopt a rosier view of the
economic activity, but stressed that the labor market remained vulnerable.
He has been downplaying the economy all year long, even
though the information on a regular basis when they do
(16:46):
retail sales, when they talk about a earlier in the
year when they were talking about the number of jobs created,
the number of jobs lost, or any of that sort
of stuff.
Speaker 3 (16:57):
Every how many times do.
Speaker 2 (16:58):
We hear that retail sales beat expectations, new car sales
beat expectations, and the economy has been turning along again
because of the resilience of the American public and because
of the American consumer. Some of these things are going
on despite what the people in Washington and some of
(17:20):
the pressure that they've put on us, and especially the
overburden of interest rates that the Federal Reserve has created.
We are resilient people, and we have bounced back, and
we are doing everything we can to spur this economy along.
And it's remarkable that he says, well, the economy was
expanding at a moderate pace and that the unemployment rate
(17:40):
was still low. It's stressed that the downside risk to
employment rose in recent months. Typically, the FED ques off
the incoming official data to help justify its interest rate decision,
while also citing alternate measures and surveys related to economic activity.
But the shutdown has effectedctively created a data blackout for
(18:02):
the FED, at least from the government sources. Bureau of
Labor Statistics released the Consumer Price Index report for September
over a week late, back this past Friday, in order
to meet the deadline for Social Security costs of living adjustments,
but that is likely to be the last major data
release by the agency for a while. And again I
(18:24):
have stressed even though during the government shutdown, the Goldman, Sachs, JP,
Morgan and now all of a sudden city group and
what is it nationwide have been able to gather the
unemployment the initial jobless claims that have been filed at
the individual state levels. They've been able to tap into that,
find out what that is, and produce their own report,
(18:46):
so they're not waiting on the government for those reports.
The Federal Reserve has I'm going to stress this again,
the Federal Reserve has twenty three thousand employees. Twenty three
thousand employees. My question is is we keep hearing that? Okay,
(19:06):
when Trump was talking about wanting to replace lion Jerry Powell,
and people were saying, well, if he does that, that
will change the dynamic and it will make the Federal
Reserve no longer an independent agency, which is a load
of crap, because.
Speaker 3 (19:24):
Every member of the Board.
Speaker 2 (19:26):
Every member of the Federal Reserve has been appointed by
a president, and so whether it's appointed by Biden, whether
it was appointed by Trump in his first term or
now in his second term, these people are people that
are leaning more towards whoever is in office.
Speaker 3 (19:44):
At that particular point in time.
Speaker 2 (19:46):
And apparently a lot of these people that were appointed
during the Biden administration seem to be not very with
it in terms of the economic data. And so what
we're seeing is that supposedly they're supposed to be independent,
but if they're being appointed by the administration that's in office,
it's by.
Speaker 3 (20:05):
Nature going to be political.
Speaker 2 (20:07):
You're not going to put somebody in there that is
going to wreck or to put a throw a monkey
wrench into the cogs of the wheel that you're.
Speaker 3 (20:17):
Trying to do to build the economy.
Speaker 2 (20:19):
So of course they're going to be leaning one way
or the other, and to pretend that they're not is insane.
But the fact is they got twenty three thousand employees.
Speaker 3 (20:29):
These employees could be.
Speaker 2 (20:30):
Looking at some of this economic data and coming up
with these numbers, and if in fact they are independent,
wouldn't they be more likely to have the proper data
than bureaucrats in Washington who are far removed.
Speaker 3 (20:44):
Because let's remember, you.
Speaker 2 (20:46):
Got the Federal Reserve that has twelve different agencies or
twelve different locations throughout the country, and you have Washington
that is one location, and they being out in the market,
in Atlanta, in Denver, in Cincinnati, and a bunch of
other cities Chicago, they are closer to the people. They
(21:07):
are closer. They got members there that are aware of
what's going on in those particular territories and would be
able to better report what's going on in those regions
to come up with a good idea in terms of
what's going on as far as the economy. That's just
my opinion, and you know I have an opinion, and
I'm not afraid to use it. I'm Kevin Gordon, America
struck In Network seven hundred WLW.
Speaker 6 (21:30):
News Traffic and Weather News Radio seven hundred WLW, Cincinnati.
Speaker 7 (21:38):
Friendly Words in Bussan Trump and She talk trade and
fantastic relations with your twelve thirty report. I'm Travis Laird
breaking now. The two presidents met in South Korea to
talk tariff's security and what both called a crucial partnership.
Speaker 3 (21:54):
We will be having some discussions. I think we've already
agreed to a lot of things. We'll agree to some
more right now.
Speaker 4 (22:03):
But President she is a great leader of a great country.
I think we're gonna have a fantastic relationship for a
long period of time.
Speaker 7 (22:12):
The White House says the meeting was warm, but the
real test comes when trade talks resume.
Speaker 6 (22:18):
Now the ladies forecast from a train heating and Cooling
weather center on news radio seven hundred WLW.
Speaker 8 (22:25):
As we head for our Thursday morning, we'll continue to
see rain heavy at times right into the morning rush.
I have a seven am temperature of forty five. Now
for the rest of our Thursday, a few showers tapering
off though, and gusty wins a high of fifty one
at night, gradual clearing a low down to thirty nine.
(22:46):
Looks good for trick or treat. From your severe weather station,
I'm nine first Warning Chief Meteorologist Steve Rawley, News Radio
seven hundred WLW.
Speaker 7 (22:56):
Right now, forty seven degrees in Cincinnati and rain in
just about every direction. Meals on Wheels is expanding its
reach in the tri State, breaking ground on a new
headquarters in Columbia Township that will triple services for local seniors.
The thirty million dollar facility will combine two existing locations
and expand capacity from ten thousand to thirty thousand older
(23:17):
adults each year. Leaders say it will feature a bigger,
safer kitchen and a covered area for drivers to load meals,
boosting output to three million annually. The nonprofit has already
raised more than twenty four million dollars for the project.
And now, Lee Mawen, let's talk about sports. Buddy seven
one hundred WLW sports.
Speaker 9 (23:38):
Bengals quarterback Joe Flacco dealing with an ac joint sprain
in his throwing shoulder and is fifty to fifty to
play Sunday along with Flacko, Trey Hendrickson, Logan Wilson, Marco Wilson,
and Dalton Reisner did not practice Wednesday. Bengals host the
Bears Sunday afternoon one the number seventeen you see, Bearcats
will be without running back Evan Pryor for the aim
(24:00):
at number twenty four.
Speaker 3 (24:01):
Utah.
Speaker 9 (24:02):
Kick off is at ten fifteen Saturday night. Red's have
outright and relief pitcher Ian Jabou at Triple A Louisville.
He had a four point six two era and twenty
five appearances last season.
Speaker 7 (24:12):
Thank you as always, Lee Mallen. You'll hear from Lee
again at one o'clock. Breaking news anytime. I'm Travis Laird.
News Radio seven hundred wl W.
Speaker 5 (24:21):
As a party and you backing the free iHeartRadio app
live radio playlists for everything in the most podcasts.
Speaker 10 (24:34):
Here's your trucking forecast for the Try State and the
rest of the country. In the Try State, overnight rain
the low down to forty six rain continues Thursday, which
will come to an end during the early afternoon hours.
A high fifty one Friday, mostly sunny as we dry out,
A high fifty six, partly sunny Saturday. Highs again top
out in the upper fifties. Nationally, rain is moving from
the mid Atlantic and Ohio Valley into the northeast. In
(24:56):
the northwest, late rain will move in Friday seven.
Speaker 3 (25:02):
Under w l W. I'm Kevin Gordon. This is America
Struck a network.
Speaker 2 (25:06):
I'm going through this policy statement from Lion Jerry Powell
and the Federal Reserve. Jerome Powell, the Federal Reserve Chairman,
has acknowledged that this is a risky strategy that could
result in the central Bank either inadvertently fueling inflation or
causing undue harm to the labor market. And better back
up and talk about the previous paragraph. Federal Reserve decision
(25:26):
to lower interest rates again on Wednesday reflects the central
banks belief that it can afford to focus on the
risk confronting the labor market and take steps to shore
it up, even though inflation is moving away from the
two percent target. That's where it, said Jerome Powell, saying
this is risky. Before the shutdown, monthly jobs growth had
slowed sharply and the unemployment rate had edged up. Some
(25:48):
companies like Amazon have announced big layoffs, and the concern
that more will follow the government shutdown and self represents
a new risk to the economy so far consumed, Now
get this. So far consumers have continued to spend helping
to alleviate the concerns that the economy is on the
verge of a significant downturn. That resilience has persisted even
(26:13):
as the President's tariffs have written. Now again, mind you,
this is an article that's written by the New York Times,
So there's going to be a little a bubble or
two left of center in terms of their reporting that
resilience has persisted even though the President's tariffs has raised
prices for a range of goods, even though that's not
reflected in the consumer price index, but you know, they
(26:37):
have to throw that in there because that's what they've
been told to write. The overall impact has so far
been more muted than expected, however, bolstering a widely held
view within the FED that inflationary pressures tied to those
levees will fade over time. What has concerned some policymakers, however,
is that the services inflation, which tracks prices for things
(26:59):
like aircuts, car insurance, has stayed sticky. If that persists,
it will take longer for the FED to wrestle inflation
back down services section, who has been talking about inflation
in the services sector for the last two months, digging
into the inflation numbers the way I have, I have
(27:21):
looked at that and said, okay, we've seen the bulk
of this inflation for the consumer price index in the
services area. It first popped up a couple of months
ago because we had a resurgence in the stock market.
Remember after Liberation Day on April to second, the stock
market took a dramatic downturn. The Pannikins as they were
(27:44):
calling them at the time, were getting out of the
stock market, and the smart people were saying, this is
the time to buy, this is the time to get
back into the market. Just since the first of the
year of the stock market the other day I heard
is up just since the beginning of the year. This
is the beginning, not taking into consideration the downturn in April,
(28:06):
so anybody that would have jumped in back then would
have done even better. But just since the first of
the year, the stock market is up thirty six percent.
Let that sink in for a moment. Thirty six percent.
And the fact that when you look at the every time,
like day after day, they are hitting record highs. And
(28:27):
we're not talking about record highs for the week, month, year,
We're talking about overall for the history of the stock market,
they are hitting record highs. And so that and anybody
that's got a four h one K, anybody that's got
some sort of an IRA or anything invested in the
(28:49):
stock market through mutual funds or whatever, you're benefiting by this.
Your pensions are tied to that if you are part
of a pension, And so the fact that that's doing
well means that things going well as far as your
portfolio is concerned. But what was going on at the
time two months ago is that service inflation was way
up about five percent for that particular and what happened
(29:12):
was they looked well. According to the data digging into it,
is that the rise happened to be from the fees
charged by stockbrokers and in the investment community. And that's
not a matter of them raising their prices. It's a
matter of the volume going in. Their prices are the same.
They've just got more people coming in and wanting to
(29:34):
get part of the jumping into the stock market and
being able to benefit from the increases in the stock market.
So they've got a larger volume of people coming in,
so there's more fees. So if you look at the
fees one month versus the other, and you got a
ton of people jumping in with the same fee, but
you're doubling and tripling the number of people that are
(29:55):
being charged that fee, that number shoots up tremendously. And
when you compare that for one month or the other,
that's where you were getting that discrepancy. And in here
again I talked about this last month. I talked about
this the last time we had the consumer Price Index,
and now suddenly the Federal Reserve is talking about this,
and the New York Times is recognizing that, which, by
(30:16):
the way, I should remind you that if you listen
to Federal, if you listen to the American Truck and Network,
you're going to be so far ahead of the curve
they're not even going to see your tail lights. Because
now finally they're talking about being concerned about prices increases
in the service sector for haircuts.
Speaker 3 (30:34):
Car insurance have stayed sticky.
Speaker 2 (30:36):
Now the last time I checked, the barber up the
street is not being affected by terraffs. The car insurance
is not being affected by terraffs. I don't think you
have to import car insurance from another country and pay
a tariff on that that is based on what they're
charging now that may be up as a result of
when you see some of these car prices and the
(30:58):
replacement parts on them going up, and the insurance company
is raising premium because the repairs are so much higher.
And plus the fact that you've got all these COVID
crazies out there that are causing more accidents out there
and the number of accidents are increasing because somewhere along
the line, people forgot how to drive and they're getting
a little bit more crazy. But again, these things are
(31:21):
not being affected by terrafs. And if you're talking about
the service sector, if you're talking about you know, a barber,
or you're talking about anybody in the service sector, it's
going to be very tough for those prices to come down.
You can't just say, oh, all right, I am charging
you know, twenty dollars for thirty dollars for whatever you're charging,
(31:42):
and then all of a sudden say I'm going to
be backing that off by five bucks because you know
I can afford to. You know, those are the type
of things they're going to be difficult to bring down.
Also wednesday, FED said it would stop shrinking in size
of the the They have bought a bunch of treasuries,
so they hold a lot of bonds in order to
prop up the bond market and make sure that our
(32:04):
credit rating is high. But I thought it was very
interesting that some of the things that they are finally
recognizing in here the resilience of the American public, the
fact that we haven't backed off as far as spending.
The fact that service sector is now one of the
stickiest areas as far as trying to control inflation, and
(32:24):
maybe that's something that they're just going to have to
back off from and say, you know, people are charging
more for their services. They're having to there, you know,
they're having to pay their employees more in order to work,
so that bumps up their costs and then that has
to be passed along to their customers.
Speaker 3 (32:42):
We've got to report the other day, and this was.
Speaker 2 (32:45):
Being talked about a lot by a bunch of people,
the consumer confidence and what is we have there?
Speaker 3 (32:52):
Are we are hearing more and.
Speaker 2 (32:54):
More in the economic numbers and what people are talking about.
This up about a couple of weeks ago when they
were talking about the amount of spending that's being done,
and they talked about how it appears as though that
the upper income people and when they talk about upper
(33:16):
income people, the top one percent or two I think
ten percent is what the number was anybody making you know,
as a as a household making more than one hundred
and seventy five thousand dollars a year. Those are the
people in those areas that are doing a lot of
the spending, and the part the point of the article
(33:38):
was that this may be an artificial boost to sales
and what the spending is doing because the people on
the lower end, the lower end of the economy are
not spending on a lot of things. However, the lower
ends of the economy are still having you know, even
(33:59):
though they're working paycheck to paycheck, struggling to make ends. Mean,
they're still buying groceries, they're still buying clothing, They're still
buying the various necessities. Where this comes into play is
that with discretionary income for luxury items, for certain other
things that are not necessarily necessities but are things that
(34:20):
people may want to have, and that started being talked
about a couple of days, a couple of weeks ago.
Now you're seeing a lot of people talk about the
divergence between the upper income and the lower income, but
what they're failing to talk about is some of the
other things. And we'll be bringing that up coming up.
I'm Kevin Gordon, America's truck in Network seven hundred WLW.
Speaker 6 (34:46):
Rising downtown violence and political pressure have catalyzed the chaos
regarding the Cincinnati Police chief. While the interim chief steadies
the ship. Will community leaders turned who had tried and
true veteran to become police chief permanently? Or will a
fresh face rise from within the ranks to restore calm
(35:07):
and credibility. As speculation is swirling, keep it here for
the latest on seven hundred l Jowutu.
Speaker 1 (35:15):
The thought of my sons growing up without me inspired
me to quit smoking. I talked to my doctors and
then I threw away all my cigarettes, ashtros and lighters.
Speaker 6 (35:24):
I started exercising instead of smoking.
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Staying away from alcohol when I was first quitting was key.
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I kept on trying learn something each time, do whatever
it takes, no matter how many times it takes.
Speaker 7 (35:36):
We did it.
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So can you for free help call one eight hundred
Quit Now A message from the US Department of Health
and Human Services and CDC or.
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Twenty twenty five I.
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Heart This is America Struck in Network seven hundred WLWM
Kevin Gordon. If you missed any part of our previous
segments ornam our shows hit up that iHeartRadio app and
of course that's brought to you by our friends at
Rush Struck Centers. Now talking about the two stages of
the economy, I mentioned before that people were talking about, well,
you've got the upper income people, the one hundred and
(36:07):
seventy five thousand or above household that are spending a
lot of money, and the people below cutting back on
their spending or looking for more bargains and so on.
But the other part of the economy that I believe
that people are not paying attention to is what I've
got a story on this coming up that the perception
(36:28):
or what the spoon fed regurgitators in the means mainstream
media are talking about versus what's actually happening. Is the
thing that is surprising talking about consumer confidence report that
came out and the title here is consumer confidence slips
to a six month low, worries over job availability rising,
(36:49):
Americans grow and then another story, Americans grow more uneasy
about job market and the economy, and they talk about
what's going on there now digging into.
Speaker 3 (36:59):
This, well, let's just dig into it.
Speaker 2 (37:01):
Us consumer confidence eased to a six month low in
October amid worries about the availability of jobs and near
term offering more ammunition for the federal reserve rate cut.
And of course this was a story that was written
two days ago. Conference Board survey on Tuesday also confirmed
that economists described as a case shaped economy, with confidence
(37:22):
declining among consumers making an annual income of less than
seventy five thousand, but consumers earning more than two hundred
thousand a year are more upbeat. Economists argue that high
income households are keeping the economy afloat through robust consumer spending,
which is not necessarily true because the lower ends still
(37:43):
have to buy food, clothing, and so on. Lower income
households are struggling to make ends meet aid a higher prices,
including from President Donald Trump's broad tariffs on import Even
though they can't find inflation as a result of the tariffs,
they still have to throw that in there. This is
a guy that I keep seeing and he just infuriates
(38:03):
me every time I see quotes by him. Christopher Rupke,
chief economists at Forward Bonds. Consumers are weary, and for
good reason. The stock market records are not helping them
get jobs or put food on the table, and with
store bought goods inflation still rising, many Americans are being
left behind. In Trump two point zero, well, you know,
(38:26):
if people are investing in the stock market, which are
companies and the companies are doing well and they're going
to have to sell to somebody. So as they increase
and they start selling things, they are producing more jobs.
And more jobs mean more people have stuff to spend.
(38:46):
So you can't downplay the fact that the stock market
is going up and say that that's not going to
affect the economy. And when you take into consideration the
high percentage of people either through four on case or
through their own private investment, that are invested in the
stock market in some way or fashion somewhere along the line,
(39:09):
and so for them to look at this and to
come to these conclusions, conference boards said it's consumer confidence
fell to ninety four point six this month, the lowest
reading since April. Now that would have been true had
they not paid attention to the previous month. And what
is interesting is that they are talking about that that
(39:33):
number was revised from to ninety five point six in
the previous month, which is interesting because the initial reading
came out at ninety four point two percent.
Speaker 3 (39:46):
So if they.
Speaker 2 (39:47):
Look at that and say, well, all right, we're down
the lowest it's been at ninety four from something around
ninety seven the previous month, and then all of a
sudden they get more details in. As I've been stressing,
with these surveys that are out there, there is not
a date certain where they have to turn this information in,
and because it's delayed, they whoever is getting the survey
(40:12):
numbers together and bringing that up, that there's a delay
in that. That's why there's an adjustment the following month.
So even though you're getting this consumer confidence number, now,
this may not be the right consumer confidence because again
it was at ninety four point two percent, was revised
up a full percentage point, and then the initial reading
(40:36):
this time was below that revised number. So we're not
getting accurate detail. But what they're doing is jumping the
conclusions in terms of where this consumer confidence number is
based on, in my opinion, faulty information. And when you're
doing surveys of people. Again, when you're looking at these things,
(40:57):
whether it's that Michigan Consumer Sentiment report that comes out
or this consumer confidence report that comes out by the
Conference Board US Government, you you don't know what the
cross section of people that they're what they're surveying. We
don't know the percentage of independence, we don't know the
percentage of Republicans, We don't know the percentage of Democrats,
(41:18):
So depending upon what pool of people they are relying on,
that gives an indication in terms of where they're getting
their numbers. And I tripped upon this. It was, you know,
I do a lot of reading, I do a lot
of research. I look at a different bunch of different things.
But I came across upon this thing, and it was,
(41:38):
if this doesn't explain the as I said, we've got
two economies. We got the economy that not only they're
talking about the economy that affects the rich and the poor.
Speaker 3 (41:48):
We've always had that. There's always been a different economy.
You know.
Speaker 2 (41:51):
Obviously people that have more money, they're got more things
to spend in terms of vacation and the luxury items
that they can buy versus the people that are in middle,
middle class or lower class. So anyway, you've always had
that going on in the economy. But we've got now
is a perception between what the government and some of
these officials are telling us and what the actual people
(42:13):
are experiencing. And the case in point, I don't know
if you've seen this guy from I don't know if
you've seen him, but he's one of these statisticians from CNN,
and he's really over exuber I mean, he's just he's
a character.
Speaker 3 (42:28):
I got to tell you. He's kind of entertaining.
Speaker 2 (42:31):
He's really you know, he's arms are flailing and he's
you know, he's talking about when something goes down. He's
standing there and he crouches down and goes these numbers
are way down, and then his voice goes up and
all the sorts of guys by the name of Harry Enton.
And what was interesting is that he was talking. And
what's interesting, Well, back up a little bit. What's been
(42:52):
interesting is some of the polling numbers that he's come
up with, where you know, CNN MSNBC have been downplaying
the economy or downplaying President Trump and the opinion. When
he does his polling and he shows that all those
numbers are up where CNN is trying to pull it down.
(43:13):
The sour faces on the host of these shows you
can see them, and they get them off camera real
quick because you can see their faces, like, you know,
where are you coming up with these? I can't believe
these numbers? But this was interesting. He was there the
other day and he was showing about the top problem
facing the US as far as economic is concerned, economic concerns.
(43:38):
October of twenty twenty four, the top concern among people
economic the economy was the concern of forty three percent
of the American people. As of October twenty twenty five,
the top concern among people it was twenty four percent.
So the worries about the economy has come down twenty percent.
Speaker 3 (44:02):
Despite what they've tried to do as far.
Speaker 2 (44:04):
As talking the economy down, also talking about the average
around the mid terms, because we've got the midterms coming
up next year, the top one of the top of
the concern of people, the average concern on the midterm
elections as far as the economy is concerned, history throughout
(44:24):
the history of the midterms has been around thirty five
percent concern over the economy. This time twenty four percent,
a full eleven percentage points below. So people, we're being
told by the experts that people are concerned about the economy,
but when they're polled here and he takes a cross
average across section, a good cross section Democrats, Republicans, and
(44:48):
independence because he talks about how each are being affected
in these So the average midterms economy being a concern
of thirty five percent of the people, is only twenty
four percent of the people now then talking about the
government shutdown, how much this is going to harm the economy.
(45:09):
Back in twenty thirteen, when the economy was or the
government was shut down, the worries about an effect on
the economy was sixty five percent as far as the
people were concerned. Today it is forty eight percent. So
less than half of the people are concerned about how
(45:30):
the government shut down is going to affect the economy.
And this you talk about, and he mentioned in here
what a contrarian report this is. And quite honestly, with
the information that we keep hearing from the spoon fed
regurgitators in the mainstream media, this is telling that the
stuff that they're telling us is not what the people
(45:50):
are feeling out there. Well, folks, we're up against clock.
Stay tuned forver REDAI Radio Top of the Hour. I'm
Kevin Gordon, America's Trucking Network seven hundred wl HO.
Speaker 1 (46:00):
You
This is America's Truncking Network with Kevin Gordon.
Speaker 2 (00:08):
Welcome aboard, thanks for tuning in on this Thursday morning.
Who says nothing good happens after midnight. Apparently people that
aren't listening to America's struck a network that I can
tell you. Hurricane Melissa is still turning away in the Atlantic.
Speaker 3 (00:26):
And what is.
Speaker 2 (00:26):
Interesting is that as it hit Jamaica, which the devastation
there is incredible, and again hearts and prayers go out
to the folks there. Once it crossed over Jamaica, it
was going about nine miles per hour and it has
gone it has increased in speed about five times. It's
now up around forty five to fifty miles per hour
(00:50):
moving towards actually went through Haiti, went through the southeastern yes,
the southeastern portion of Cuba, Guantana Obey, and it's barreling
its way up to the Bahamas, which will hit probably
later on today into tonight. So this is a fast
moving storm. But the trajectory of this is still where
(01:12):
it's veering off away from the coast of the United States,
so we're not going to get a direct hit there,
but it's going to be veering off to the northeast
from that point. But what we've been seeing in our
outlying storm surges, and especially along the North Carolina coast.
You remember a couple of weeks ago we had what
was it about twelve structures that fell because of the
(01:36):
storm surges. They're out there on the you know, they're
out there on the beaches, basically on stilts. Supposed to
take into consideration that when the storm surges come in,
that they're high enough to withstand that. But apparently the
amount of water and the amount of the waves hitting
those structures hit, those stilts broke and those houses collapsed,
(01:59):
about twelve of them. There's been an additional four that
were lost just this past well overnight. It was there
around I think it was a Hatteras Island, Derek County, Buxton,
North Carolina. The four structures that came down were actually
in Buxton, North Carolina. So again we're not getting direct hits.
(02:21):
Up to this point, we've lost what sixteen structures compared
to what would have had what has happened in the
hurricane seasons over the last few years. That is remarkable
and hopefully our good luck will continue.
Speaker 3 (02:35):
The Federal Reserve Lion Jerry Powell and.
Speaker 2 (02:39):
The fellas, ladies and gentlemen, I should say, lowered interest
rates by a quarter percentage point. Now, I was waiting
for the report at noon or at two o'clock generally
they do their meeting and they come out at two
o'clock and Lion Jerry Powell steps up to the microphone
and gives his spiel as to why they did or
(02:59):
did not cut interest rates or what they're doing and
their explanation behind that. He actually ran a little bit
late yesterday, didn't come out until about ten after two,
which is kind of unusual. And what was interesting is well,
actually it was interesting some of the things that were
said but not said as well. And it's funny. You
(03:22):
know where I've stood on this for the entire year.
I think interest rates should be down at least by
a full percentage point at this point. That started the
year off at round five percent. For four and a
half to five percent, I think it should still. I
should think it should be down at four percent or
below already, and then another quarter percentage point reduced this time,
(03:46):
because that is the thing, in my opinion, that's holding
back the economy. From day one, we kept hearing from
the Federal Reserve that they're reluctant to lower interest rates
because they won the inflation rate down around two percent.
We pointed out on the program that when they talk
about the Social Security increases, that cost a living allowance
(04:07):
that comes through every year, that's based on what the
inflation rate is that year. That has averaged since two
thousand two point six percent, So around over the last
twenty five years, the average inflation rate has been two
point six percent. Why the Federal Reserve has suddenly targeted
two percent and said that the inflation rate should be
(04:30):
around two percent when history says it's around two point
six percent has always puzzled me. Plus the fact that
when you take into consideration when we look at the
different contracts that have gone through. I've spelled that out
on this program, and numerous times we've had major contracts
signed by the UAW, major contracts signed by the railroad workers,
(04:52):
major contracts by both the East Coast and the West
Coast dock workers, and then we've had railroad and UPS, Yes,
UPS signed a big contract. So you've got these wages
that have gone up tremendously. As a matter of fact,
they talked about that the wage increase, as far as
UAW is concerned, would increase the price of a car
(05:13):
by nine hundred dollars.
Speaker 3 (05:15):
We started seeing the other day. It was a couple
of weeks ago.
Speaker 2 (05:19):
We were talking about the inflation having to do with cars,
and they were saying, well, because of terraffs in this
blah blah blah blah blah, that the price of a
car has gone up, averaged up nine hundred dollars. And
I said, WHOA, pull the reins back on that, folks.
Let's go back to the story that was talked about
when that contract was signed, that it would add about
(05:40):
nine hundred.
Speaker 3 (05:41):
Dollars to the cost of the vehicle.
Speaker 2 (05:42):
So all this a lot of times, what we're seeing
is that people are blaming cost increases on tariffs as
opposed to cost increases based on salaries and wages. Wage
increases we talked about just yesterday, we had talking about
a story out of Chicago talking about this person who
(06:03):
owns these coffee shops and the price of coffee and
having to raise her prices by fifteen percent, and she's
talking about terrorists and all this. Yet when you look
at the minimum wage in Chicago, it has gone from
ten dollars an hour in twenty twenty up to sixteen
dollars and sixty cents now, and it just went up
(06:24):
in July. So everybody seems to be forgeting about it.
And again I'm not talking I'm not saying that people
don't deserve pay increases, but pay increases are increases.
Speaker 3 (06:37):
And if the products that you're selling.
Speaker 2 (06:40):
The products that you are providing are the cost of that.
Built into that are salaries and wages. If wages go up,
your cost go up. If your cost go up, you're
going to pass those costs along to your customers. And
so be be honest about it and quit this business.
This is almost like going back to right after the pandemic.
(07:03):
Remember all the stuff talking about supply chains. Now there
were different supply chain issues. Because you can't stop an economy.
You can't shut down every manufacturing facility in the country,
you can't close up every business that's around, shut down
every restaurant, and then gear up and snap your fingers
and everything goes back to normal. There is a gearing up.
(07:25):
You're going to have to build supplies. You're going to
have to go into these factories and start from scratch,
put the raw materials together, process that and get it available.
So there were supply chain issues being able to supply
what people were wanting, the whole thing in different service areas.
I've talked about that on this program numerous times. The
(07:46):
fact that we may recall when you went into the
stores there were hardly in employees in there, and it
was tough to find somebody or find some help to
find anything. Customer service was at a premium because had
been laid off, they were slow to well, they couldn't
rehire some of the people. And because of the stimulus
checks that were being made available and then the state
(08:10):
unemployment payments that were going out, people were saying, I
can't afford to go back to work. I'm making too
much staying at home getting stimulus checks and unemployment from
the state. So that should have been backed off a
little bit quicker so that people got back into the workforce.
Speaker 3 (08:28):
So we had supply chain issues.
Speaker 2 (08:30):
We had problems with employees being hired and being able
to service, but everybody blamed it on supply chain issues,
when in fact it was just a matter of the
system gearing up and the employees being available. Same thing
with these tariffs, all we keep all we've been hearing
since Liberation Day on April second, that inflation was going
(08:51):
to go out of control. People were predicting recession. People
were talking about inflation was going to be in the
high single digits. And inflation has been below three percent
since then. And every time the inflation rate comes out
and they say, well, it's below three percent, it's gone up.
It's crept up from two point six to two point
seven or maybe two point seven to two point whatever
(09:13):
it's been, it's been below three percent. And every time
they talk about this inflation rate, they say, well, but
the effect of tariffs will be coming on later on. Well,
you're now talking about from from basically April, May, June, July, August, September, October.
You know, you keep saying that this is gonna happen,
gonna happen, gonna happen, and it hasn't happened, and yet
(09:35):
people keep saying, well, it's gonna happen.
Speaker 3 (09:38):
We'll pick this up.
Speaker 2 (09:38):
I got some of the comments that Lion Jerry Powell
said about during his press conference. I'm Kevin Gordon, America's
struck a network seven hundred WLW.
Speaker 1 (09:50):
I love this is the briefing report on America's drug
A Network on seven hundred WLW.
Speaker 4 (09:57):
The Infinity Series Champion will be crowded Saturday night and
Phoenix Connors, Zilich, Carson Gwaffle, Also, Justin Olgeyer and Jesse
Love are in the Exfinity Final four. Danny Hamlin, who
will run for the Cup Series twenty twenty five titles
Sunday on Dirty Will Media, on his pick for the
Exfinity champ.
Speaker 5 (10:14):
The seven car last year was very, very dominant. You
gotta think he's going to be pretty tough again, but
you also got the eighty eight. I think it's still
going to be a close one. Justin's experience at Phoenix
will counter whatever success the eighty eight has had throughout
the season, and so I think that's going to be
a one A, one B type of race, and then
Jesse will be right there near them, and then Carson
(10:37):
is going to need to find some speed. Who's your pick?
Then I'll give the nod to Justin. His car is
going to be just as prepared as the eighty eight.
He's not going to get beat on equipment.
Speaker 3 (10:45):
Remember last year, all the mistakes he had and to
still come back and Yeah, they're lightning fast. Justin's my pick.
Speaker 4 (10:50):
Sam Meyer has been suspended by NASCAR from Saturday's Exfinity
Series race in Phoenix after wrecking Jeb Burton on the
cool down lap last weekend at Martinsville. Alig Racing will
pause its Exfinity Series program for the twenty twenty six season.
Since debuting in the series full time in twenty sixteen,
Colleague has won twenty seven races and ten seasons, including
(11:12):
a pair of regular season championships from aj Allmendinger in
twenty twenty one and twenty twenty two.
Speaker 1 (11:19):
This is the racing report on America's drugging network on
seven hundred WLW.
Speaker 4 (11:25):
Sake Dennis for reporting for a t N.
Speaker 2 (11:30):
Progressive Commercial Insurance protects truck owners with specialized coverages for
heavy drugs.
Speaker 3 (11:35):
Insure commercial vehicles from pickup trucks.
Speaker 2 (11:38):
Vance Trek was basically from the New York Times. Federal
Reserve cut interest rates for the second time this year
on Wednesday, despite officials having only a partial view of
how the economy is faring because of the shutdown. The
Central Bank voted the lower barring caused by a quarter
percentage point down to three point seven three point to
(12:00):
four percent. Wednesday's decision, which brought interest rates below four
percent for the first time since late twenty twenty two,
was a divisive one. Two officials descended for different reasons.
Speaker 3 (12:12):
Stephen I.
Speaker 2 (12:14):
Marin the newest member of the FED. He's also part
of the Trump administration. He was appointed a FED. He
wanted to see a half a percentage point decrease, which
basically is agreeing with Kevin Gordon from americastruck a network.
I think the interest rate should have been down at
least a half a percentage point. Let me see was
(12:35):
calling for a half percent interest rate reduction like he
did in September.
Speaker 3 (12:39):
Jeffrey R.
Speaker 2 (12:40):
Schmid, president of the Federal Reserve Bank of Kansas City,
one of the Federal Reserve, instead to hold interest rate
steady at the previous level of four percent to four
point twenty five percent. Is this guy smoking crack or something?
Doesn't he Every time we talk about every time we
hear about stuff.
Speaker 3 (13:01):
I mean, we've had stories. Over the last couple of weeks.
Speaker 2 (13:04):
We had what was the number eighty one The number
of people refinancing their homes went up eighty one percent
in the month of September because of the interest rates
on home loans coming down. We just had the story
the other day talking about that the number of houses
that were sold went up one point five percent, that
(13:28):
they're on track to sell over four million homes existing homes,
and what's going on there because of interest rates coming
down a half a percentage point. This is the thing
that spurs the economy. Anybody talking about adding a piece
of equipment, Anybody talking about adding a new truck, fleets
(13:49):
expanding their number of trucks that they are interested in.
Somebody wanting to buy a piece of equipment, somebody wanting
to jump into the new home market. It is all
based on interest rates and what your cost of doing
that would be. Now, again, I will stress that you
need to sit down between now and the end of
the year with your accountant, your tax attorney, or whoever
(14:12):
you get your tax advice. And if you don't, if
you're not getting tax advice from somebody, pay the couple
one hundred dollars or so to get the proper advice.
Speaker 3 (14:21):
Because there is.
Speaker 2 (14:22):
That Section one seventy nine deduction that is available for
new equipment. You can deduct in a single year up
to one million, two hundred and fifty thousand dollars in
purchases off of your income, lower your your prop Basically
on paper, it's a paper number, it's not cash, but
(14:45):
it shows a negative a loss for the year. You
would actually not be paying taxes on that. So look
at you know it's a it's a straight deduction off
your tax return. And if you're getting this one point
two five million dollars, now you know if you're buy
a piece of equipment for two hundred and forty five
thousand or one hundred and eight whatever that equipment is,
(15:07):
that is fully deductible in the first year. Now you
have to weigh that off. And again you need to
sit down with attorney or somebody that prepares taxes and
somebody knows what the hell they're talking about for your
individual situation. I can't tell you what to do for
your individual situation other than go talk to somebody about
what you have, how you do things. So you need
(15:28):
to weigh the possibility of purchasing a new truck or
a new piece of equipment based on what your maintenance
costs are up to this point, because if your truck
is off the road, you're not earning any income, So
you got to factor that into it. Plus you also
have to factor in what your maintenance costs are going
to be, and then you have to balance that off
(15:49):
what the interest rate on a new truck would be
if you're borrowing that, But then what that would do
to your year's income in terms of taking that as
a deduction off your taxes and what you would be
saying saying as far as taxes.
Speaker 3 (16:01):
But again you need to sit down with your.
Speaker 2 (16:03):
Tax accountant, with somebody that knows what they're doing as
far as your individual situation and make that decision. So again,
interest rates are an important factor out there, and that
is what's holding a lot of people back from neither
jumping into the housing market, jumping into buying a new truck,
buying a new car, or anything along those lines, any
of the major purchases. But again getting back to the
(16:25):
line Jerry Powell and his statement. In his policy statement,
the Fed seemed to adopt a rosier view of the
economic activity, but stressed that the labor market remained vulnerable.
He has been downplaying the economy all year long, even
though the information on a regular basis when they do
(16:46):
retail sales, when they talk about a earlier in the
year when they were talking about the number of jobs created,
the number of jobs lost, or any of that sort
of stuff.
Speaker 3 (16:57):
Every how many times do.
Speaker 2 (16:58):
We hear that retail sales beat expectations, new car sales
beat expectations, and the economy has been turning along again
because of the resilience of the American public and because
of the American consumer. Some of these things are going
on despite what the people in Washington and some of
(17:20):
the pressure that they've put on us, and especially the
overburden of interest rates that the Federal Reserve has created.
We are resilient people, and we have bounced back, and
we are doing everything we can to spur this economy along.
And it's remarkable that he says, well, the economy was
expanding at a moderate pace and that the unemployment rate
(17:40):
was still low. It's stressed that the downside risk to
employment rose in recent months. Typically, the FED ques off
the incoming official data to help justify its interest rate decision,
while also citing alternate measures and surveys related to economic activity.
But the shutdown has effectedctively created a data blackout for
(18:02):
the FED, at least from the government sources. Bureau of
Labor Statistics released the Consumer Price Index report for September
over a week late, back this past Friday, in order
to meet the deadline for Social Security costs of living adjustments,
but that is likely to be the last major data
release by the agency for a while. And again I
(18:24):
have stressed even though during the government shutdown, the Goldman, Sachs, JP,
Morgan and now all of a sudden city group and
what is it nationwide have been able to gather the
unemployment the initial jobless claims that have been filed at
the individual state levels. They've been able to tap into that,
find out what that is, and produce their own report,
(18:46):
so they're not waiting on the government for those reports.
The Federal Reserve has I'm going to stress this again,
the Federal Reserve has twenty three thousand employees. Twenty three
thousand employees. My question is is we keep hearing that? Okay,
(19:06):
when Trump was talking about wanting to replace lion Jerry Powell,
and people were saying, well, if he does that, that
will change the dynamic and it will make the Federal
Reserve no longer an independent agency, which is a load
of crap, because.
Speaker 3 (19:24):
Every member of the Board.
Speaker 2 (19:26):
Every member of the Federal Reserve has been appointed by
a president, and so whether it's appointed by Biden, whether
it was appointed by Trump in his first term or
now in his second term, these people are people that
are leaning more towards whoever is in office.
Speaker 3 (19:44):
At that particular point in time.
Speaker 2 (19:46):
And apparently a lot of these people that were appointed
during the Biden administration seem to be not very with
it in terms of the economic data. And so what
we're seeing is that supposedly they're supposed to be independent,
but if they're being appointed by the administration that's in office,
it's by.
Speaker 3 (20:05):
Nature going to be political.
Speaker 2 (20:07):
You're not going to put somebody in there that is
going to wreck or to put a throw a monkey
wrench into the cogs of the wheel that you're.
Speaker 3 (20:17):
Trying to do to build the economy.
Speaker 2 (20:19):
So of course they're going to be leaning one way
or the other, and to pretend that they're not is insane.
But the fact is they got twenty three thousand employees.
Speaker 3 (20:29):
These employees could be.
Speaker 2 (20:30):
Looking at some of this economic data and coming up
with these numbers, and if in fact they are independent,
wouldn't they be more likely to have the proper data
than bureaucrats in Washington who are far removed.
Speaker 3 (20:44):
Because let's remember, you.
Speaker 2 (20:46):
Got the Federal Reserve that has twelve different agencies or
twelve different locations throughout the country, and you have Washington
that is one location, and they being out in the market,
in Atlanta, in Denver, in Cincinnati, and a bunch of
other cities Chicago, they are closer to the people. They
(21:07):
are closer. They got members there that are aware of
what's going on in those particular territories and would be
able to better report what's going on in those regions
to come up with a good idea in terms of
what's going on as far as the economy. That's just
my opinion, and you know I have an opinion, and
I'm not afraid to use it. I'm Kevin Gordon, America
struck In Network seven hundred WLW.
Speaker 6 (21:30):
News Traffic and Weather News Radio seven hundred WLW, Cincinnati.
Speaker 7 (21:38):
Friendly Words in Bussan Trump and She talk trade and
fantastic relations with your twelve thirty report. I'm Travis Laird
breaking now. The two presidents met in South Korea to
talk tariff's security and what both called a crucial partnership.
Speaker 3 (21:54):
We will be having some discussions. I think we've already
agreed to a lot of things. We'll agree to some
more right now.
Speaker 4 (22:03):
But President she is a great leader of a great country.
I think we're gonna have a fantastic relationship for a
long period of time.
Speaker 7 (22:12):
The White House says the meeting was warm, but the
real test comes when trade talks resume.
Speaker 6 (22:18):
Now the ladies forecast from a train heating and Cooling
weather center on news radio seven hundred WLW.
Speaker 8 (22:25):
As we head for our Thursday morning, we'll continue to
see rain heavy at times right into the morning rush.
I have a seven am temperature of forty five. Now
for the rest of our Thursday, a few showers tapering
off though, and gusty wins a high of fifty one
at night, gradual clearing a low down to thirty nine.
(22:46):
Looks good for trick or treat. From your severe weather station,
I'm nine first Warning Chief Meteorologist Steve Rawley, News Radio
seven hundred WLW.
Speaker 7 (22:56):
Right now, forty seven degrees in Cincinnati and rain in
just about every direction. Meals on Wheels is expanding its
reach in the tri State, breaking ground on a new
headquarters in Columbia Township that will triple services for local seniors.
The thirty million dollar facility will combine two existing locations
and expand capacity from ten thousand to thirty thousand older
(23:17):
adults each year. Leaders say it will feature a bigger,
safer kitchen and a covered area for drivers to load meals,
boosting output to three million annually. The nonprofit has already
raised more than twenty four million dollars for the project.
And now, Lee Mawen, let's talk about sports. Buddy seven
one hundred WLW sports.
Speaker 9 (23:38):
Bengals quarterback Joe Flacco dealing with an ac joint sprain
in his throwing shoulder and is fifty to fifty to
play Sunday along with Flacko, Trey Hendrickson, Logan Wilson, Marco Wilson,
and Dalton Reisner did not practice Wednesday. Bengals host the
Bears Sunday afternoon one the number seventeen you see, Bearcats
will be without running back Evan Pryor for the aim
(24:00):
at number twenty four.
Speaker 3 (24:01):
Utah.
Speaker 9 (24:02):
Kick off is at ten fifteen Saturday night. Red's have
outright and relief pitcher Ian Jabou at Triple A Louisville.
He had a four point six two era and twenty
five appearances last season.
Speaker 7 (24:12):
Thank you as always, Lee Mallen. You'll hear from Lee
again at one o'clock. Breaking news anytime. I'm Travis Laird.
News Radio seven hundred wl W.
Speaker 5 (24:21):
As a party and you backing the free iHeartRadio app
live radio playlists for everything in the most podcasts.
Speaker 10 (24:34):
Here's your trucking forecast for the Try State and the
rest of the country. In the Try State, overnight rain
the low down to forty six rain continues Thursday, which
will come to an end during the early afternoon hours.
A high fifty one Friday, mostly sunny as we dry out,
A high fifty six, partly sunny Saturday. Highs again top
out in the upper fifties. Nationally, rain is moving from
the mid Atlantic and Ohio Valley into the northeast. In
(24:56):
the northwest, late rain will move in Friday seven.
Speaker 3 (25:02):
Under w l W. I'm Kevin Gordon. This is America
Struck a network.
Speaker 2 (25:06):
I'm going through this policy statement from Lion Jerry Powell
and the Federal Reserve. Jerome Powell, the Federal Reserve Chairman,
has acknowledged that this is a risky strategy that could
result in the central Bank either inadvertently fueling inflation or
causing undue harm to the labor market. And better back
up and talk about the previous paragraph. Federal Reserve decision
(25:26):
to lower interest rates again on Wednesday reflects the central
banks belief that it can afford to focus on the
risk confronting the labor market and take steps to shore
it up, even though inflation is moving away from the
two percent target. That's where it, said Jerome Powell, saying
this is risky. Before the shutdown, monthly jobs growth had
slowed sharply and the unemployment rate had edged up. Some
(25:48):
companies like Amazon have announced big layoffs, and the concern
that more will follow the government shutdown and self represents
a new risk to the economy so far consumed, Now
get this. So far consumers have continued to spend helping
to alleviate the concerns that the economy is on the
verge of a significant downturn. That resilience has persisted even
(26:13):
as the President's tariffs have written. Now again, mind you,
this is an article that's written by the New York Times,
So there's going to be a little a bubble or
two left of center in terms of their reporting that
resilience has persisted even though the President's tariffs has raised
prices for a range of goods, even though that's not
reflected in the consumer price index, but you know, they
(26:37):
have to throw that in there because that's what they've
been told to write. The overall impact has so far
been more muted than expected, however, bolstering a widely held
view within the FED that inflationary pressures tied to those
levees will fade over time. What has concerned some policymakers, however,
is that the services inflation, which tracks prices for things
(26:59):
like aircuts, car insurance, has stayed sticky. If that persists,
it will take longer for the FED to wrestle inflation
back down services section, who has been talking about inflation
in the services sector for the last two months, digging
into the inflation numbers the way I have, I have
(27:21):
looked at that and said, okay, we've seen the bulk
of this inflation for the consumer price index in the
services area. It first popped up a couple of months
ago because we had a resurgence in the stock market.
Remember after Liberation Day on April to second, the stock
market took a dramatic downturn. The Pannikins as they were
(27:44):
calling them at the time, were getting out of the
stock market, and the smart people were saying, this is
the time to buy, this is the time to get
back into the market. Just since the first of the
year of the stock market the other day I heard
is up just since the beginning of the year. This
is the beginning, not taking into consideration the downturn in April,
(28:06):
so anybody that would have jumped in back then would
have done even better. But just since the first of
the year, the stock market is up thirty six percent.
Let that sink in for a moment. Thirty six percent.
And the fact that when you look at the every time,
like day after day, they are hitting record highs. And
(28:27):
we're not talking about record highs for the week, month, year,
We're talking about overall for the history of the stock market,
they are hitting record highs. And so that and anybody
that's got a four h one K, anybody that's got
some sort of an IRA or anything invested in the
(28:49):
stock market through mutual funds or whatever, you're benefiting by this.
Your pensions are tied to that if you are part
of a pension, And so the fact that that's doing
well means that things going well as far as your
portfolio is concerned. But what was going on at the
time two months ago is that service inflation was way
up about five percent for that particular and what happened
(29:12):
was they looked well. According to the data digging into it,
is that the rise happened to be from the fees
charged by stockbrokers and in the investment community. And that's
not a matter of them raising their prices. It's a
matter of the volume going in. Their prices are the same.
They've just got more people coming in and wanting to
(29:34):
get part of the jumping into the stock market and
being able to benefit from the increases in the stock market.
So they've got a larger volume of people coming in,
so there's more fees. So if you look at the
fees one month versus the other, and you got a
ton of people jumping in with the same fee, but
you're doubling and tripling the number of people that are
(29:55):
being charged that fee, that number shoots up tremendously. And
when you compare that for one month or the other,
that's where you were getting that discrepancy. And in here
again I talked about this last month. I talked about
this the last time we had the consumer Price Index,
and now suddenly the Federal Reserve is talking about this,
and the New York Times is recognizing that, which, by
(30:16):
the way, I should remind you that if you listen
to Federal, if you listen to the American Truck and Network,
you're going to be so far ahead of the curve
they're not even going to see your tail lights. Because
now finally they're talking about being concerned about prices increases
in the service sector for haircuts.
Speaker 3 (30:34):
Car insurance have stayed sticky.
Speaker 2 (30:36):
Now the last time I checked, the barber up the
street is not being affected by terraffs. The car insurance
is not being affected by terraffs. I don't think you
have to import car insurance from another country and pay
a tariff on that that is based on what they're
charging now that may be up as a result of
when you see some of these car prices and the
(30:58):
replacement parts on them going up, and the insurance company
is raising premium because the repairs are so much higher.
And plus the fact that you've got all these COVID
crazies out there that are causing more accidents out there
and the number of accidents are increasing because somewhere along
the line, people forgot how to drive and they're getting
a little bit more crazy. But again, these things are
(31:21):
not being affected by terrafs. And if you're talking about
the service sector, if you're talking about you know, a barber,
or you're talking about anybody in the service sector, it's
going to be very tough for those prices to come down.
You can't just say, oh, all right, I am charging
you know, twenty dollars for thirty dollars for whatever you're charging,
(31:42):
and then all of a sudden say I'm going to
be backing that off by five bucks because you know
I can afford to. You know, those are the type
of things they're going to be difficult to bring down.
Also wednesday, FED said it would stop shrinking in size
of the the They have bought a bunch of treasuries,
so they hold a lot of bonds in order to
prop up the bond market and make sure that our
(32:04):
credit rating is high. But I thought it was very
interesting that some of the things that they are finally
recognizing in here the resilience of the American public, the
fact that we haven't backed off as far as spending.
The fact that service sector is now one of the
stickiest areas as far as trying to control inflation, and
(32:24):
maybe that's something that they're just going to have to
back off from and say, you know, people are charging
more for their services. They're having to there, you know,
they're having to pay their employees more in order to work,
so that bumps up their costs and then that has
to be passed along to their customers.
Speaker 3 (32:42):
We've got to report the other day, and this was.
Speaker 2 (32:45):
Being talked about a lot by a bunch of people,
the consumer confidence and what is we have there?
Speaker 3 (32:52):
Are we are hearing more and.
Speaker 2 (32:54):
More in the economic numbers and what people are talking about.
This up about a couple of weeks ago when they
were talking about the amount of spending that's being done,
and they talked about how it appears as though that
the upper income people and when they talk about upper
(33:16):
income people, the top one percent or two I think
ten percent is what the number was anybody making you know,
as a as a household making more than one hundred
and seventy five thousand dollars a year. Those are the
people in those areas that are doing a lot of
the spending, and the part the point of the article
(33:38):
was that this may be an artificial boost to sales
and what the spending is doing because the people on
the lower end, the lower end of the economy are
not spending on a lot of things. However, the lower
ends of the economy are still having you know, even
(33:59):
though they're working paycheck to paycheck, struggling to make ends. Mean,
they're still buying groceries, they're still buying clothing, They're still
buying the various necessities. Where this comes into play is
that with discretionary income for luxury items, for certain other
things that are not necessarily necessities but are things that
(34:20):
people may want to have, and that started being talked
about a couple of days, a couple of weeks ago.
Now you're seeing a lot of people talk about the
divergence between the upper income and the lower income, but
what they're failing to talk about is some of the
other things. And we'll be bringing that up coming up.
I'm Kevin Gordon, America's truck in Network seven hundred WLW.
Speaker 6 (34:46):
Rising downtown violence and political pressure have catalyzed the chaos
regarding the Cincinnati Police chief. While the interim chief steadies
the ship. Will community leaders turned who had tried and
true veteran to become police chief permanently? Or will a
fresh face rise from within the ranks to restore calm
(35:07):
and credibility. As speculation is swirling, keep it here for
the latest on seven hundred l Jowutu.
Speaker 1 (35:15):
The thought of my sons growing up without me inspired
me to quit smoking. I talked to my doctors and
then I threw away all my cigarettes, ashtros and lighters.
Speaker 6 (35:24):
I started exercising instead of smoking.
Speaker 8 (35:26):
Staying away from alcohol when I was first quitting was key.
Speaker 5 (35:30):
I kept on trying learn something each time, do whatever
it takes, no matter how many times it takes.
Speaker 7 (35:36):
We did it.
Speaker 6 (35:37):
So can you for free help call one eight hundred
Quit Now A message from the US Department of Health
and Human Services and CDC or.
Speaker 5 (35:45):
Twenty twenty five I.
Speaker 2 (35:46):
Heart This is America Struck in Network seven hundred WLWM
Kevin Gordon. If you missed any part of our previous
segments ornam our shows hit up that iHeartRadio app and
of course that's brought to you by our friends at
Rush Struck Centers. Now talking about the two stages of
the economy, I mentioned before that people were talking about, well,
you've got the upper income people, the one hundred and
(36:07):
seventy five thousand or above household that are spending a
lot of money, and the people below cutting back on
their spending or looking for more bargains and so on.
But the other part of the economy that I believe
that people are not paying attention to is what I've
got a story on this coming up that the perception
(36:28):
or what the spoon fed regurgitators in the means mainstream
media are talking about versus what's actually happening. Is the
thing that is surprising talking about consumer confidence report that
came out and the title here is consumer confidence slips
to a six month low, worries over job availability rising,
(36:49):
Americans grow and then another story, Americans grow more uneasy
about job market and the economy, and they talk about
what's going on there now digging into.
Speaker 3 (36:59):
This, well, let's just dig into it.
Speaker 2 (37:01):
Us consumer confidence eased to a six month low in
October amid worries about the availability of jobs and near
term offering more ammunition for the federal reserve rate cut.
And of course this was a story that was written
two days ago. Conference Board survey on Tuesday also confirmed
that economists described as a case shaped economy, with confidence
(37:22):
declining among consumers making an annual income of less than
seventy five thousand, but consumers earning more than two hundred
thousand a year are more upbeat. Economists argue that high
income households are keeping the economy afloat through robust consumer spending,
which is not necessarily true because the lower ends still
(37:43):
have to buy food, clothing, and so on. Lower income
households are struggling to make ends meet aid a higher prices,
including from President Donald Trump's broad tariffs on import Even
though they can't find inflation as a result of the tariffs,
they still have to throw that in there. This is
a guy that I keep seeing and he just infuriates
(38:03):
me every time I see quotes by him. Christopher Rupke,
chief economists at Forward Bonds. Consumers are weary, and for
good reason. The stock market records are not helping them
get jobs or put food on the table, and with
store bought goods inflation still rising, many Americans are being
left behind. In Trump two point zero, well, you know,
(38:26):
if people are investing in the stock market, which are
companies and the companies are doing well and they're going
to have to sell to somebody. So as they increase
and they start selling things, they are producing more jobs.
And more jobs mean more people have stuff to spend.
(38:46):
So you can't downplay the fact that the stock market
is going up and say that that's not going to
affect the economy. And when you take into consideration the
high percentage of people either through four on case or
through their own private investment, that are invested in the
stock market in some way or fashion somewhere along the line,
(39:09):
and so for them to look at this and to
come to these conclusions, conference boards said it's consumer confidence
fell to ninety four point six this month, the lowest
reading since April. Now that would have been true had
they not paid attention to the previous month. And what
is interesting is that they are talking about that that
(39:33):
number was revised from to ninety five point six in
the previous month, which is interesting because the initial reading
came out at ninety four point two percent.
Speaker 3 (39:46):
So if they.
Speaker 2 (39:47):
Look at that and say, well, all right, we're down
the lowest it's been at ninety four from something around
ninety seven the previous month, and then all of a
sudden they get more details in. As I've been stressing,
with these surveys that are out there, there is not
a date certain where they have to turn this information in,
and because it's delayed, they whoever is getting the survey
(40:12):
numbers together and bringing that up, that there's a delay
in that. That's why there's an adjustment the following month.
So even though you're getting this consumer confidence number, now,
this may not be the right consumer confidence because again
it was at ninety four point two percent, was revised
up a full percentage point, and then the initial reading
(40:36):
this time was below that revised number. So we're not
getting accurate detail. But what they're doing is jumping the
conclusions in terms of where this consumer confidence number is
based on, in my opinion, faulty information. And when you're
doing surveys of people. Again, when you're looking at these things,
(40:57):
whether it's that Michigan Consumer Sentiment report that comes out
or this consumer confidence report that comes out by the
Conference Board US Government, you you don't know what the
cross section of people that they're what they're surveying. We
don't know the percentage of independence, we don't know the
percentage of Republicans, We don't know the percentage of Democrats,
(41:18):
So depending upon what pool of people they are relying on,
that gives an indication in terms of where they're getting
their numbers. And I tripped upon this. It was, you know,
I do a lot of reading, I do a lot
of research. I look at a different bunch of different things.
But I came across upon this thing, and it was,
(41:38):
if this doesn't explain the as I said, we've got
two economies. We got the economy that not only they're
talking about the economy that affects the rich and the poor.
Speaker 3 (41:48):
We've always had that. There's always been a different economy.
You know.
Speaker 2 (41:51):
Obviously people that have more money, they're got more things
to spend in terms of vacation and the luxury items
that they can buy versus the people that are in middle,
middle class or lower class. So anyway, you've always had
that going on in the economy. But we've got now
is a perception between what the government and some of
these officials are telling us and what the actual people
(42:13):
are experiencing. And the case in point, I don't know
if you've seen this guy from I don't know if
you've seen him, but he's one of these statisticians from CNN,
and he's really over exuber I mean, he's just he's
a character.
Speaker 3 (42:28):
I got to tell you. He's kind of entertaining.
Speaker 2 (42:31):
He's really you know, he's arms are flailing and he's
you know, he's talking about when something goes down. He's
standing there and he crouches down and goes these numbers
are way down, and then his voice goes up and
all the sorts of guys by the name of Harry Enton.
And what was interesting is that he was talking. And
what's interesting, Well, back up a little bit. What's been
(42:52):
interesting is some of the polling numbers that he's come
up with, where you know, CNN MSNBC have been downplaying
the economy or downplaying President Trump and the opinion. When
he does his polling and he shows that all those
numbers are up where CNN is trying to pull it down.
(43:13):
The sour faces on the host of these shows you
can see them, and they get them off camera real
quick because you can see their faces, like, you know,
where are you coming up with these? I can't believe
these numbers? But this was interesting. He was there the
other day and he was showing about the top problem
facing the US as far as economic is concerned, economic concerns.
(43:38):
October of twenty twenty four, the top concern among people
economic the economy was the concern of forty three percent
of the American people. As of October twenty twenty five,
the top concern among people it was twenty four percent.
So the worries about the economy has come down twenty percent.
Speaker 3 (44:02):
Despite what they've tried to do as far.
Speaker 2 (44:04):
As talking the economy down, also talking about the average
around the mid terms, because we've got the midterms coming
up next year, the top one of the top of
the concern of people, the average concern on the midterm
elections as far as the economy is concerned, history throughout
(44:24):
the history of the midterms has been around thirty five
percent concern over the economy. This time twenty four percent,
a full eleven percentage points below. So people, we're being
told by the experts that people are concerned about the economy,
but when they're polled here and he takes a cross
average across section, a good cross section Democrats, Republicans, and
(44:48):
independence because he talks about how each are being affected
in these So the average midterms economy being a concern
of thirty five percent of the people, is only twenty
four percent of the people now then talking about the
government shutdown, how much this is going to harm the economy.
(45:09):
Back in twenty thirteen, when the economy was or the
government was shut down, the worries about an effect on
the economy was sixty five percent as far as the
people were concerned. Today it is forty eight percent. So
less than half of the people are concerned about how
(45:30):
the government shut down is going to affect the economy.
And this you talk about, and he mentioned in here
what a contrarian report this is. And quite honestly, with
the information that we keep hearing from the spoon fed
regurgitators in the mainstream media, this is telling that the
stuff that they're telling us is not what the people
(45:50):
are feeling out there. Well, folks, we're up against clock.
Stay tuned forver REDAI Radio Top of the Hour. I'm
Kevin Gordon, America's Trucking Network seven hundred wl HO.
Speaker 1 (46:00):
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