November 25, 2025 • 22 mins
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Speaker 1 (00:02):
Kyo fik you about karsened De talk Station. Happy Monday,
Christopher Smithman and the Smithvent if you have Karse dot
com on the podcast page, and welcome back to the
fifty five Krose Morning Show. Monday Monday's Brian James. Thanks
to All Word Financial Loan and you out every Monday.
It's good to have you on the show.
Speaker 2 (00:19):
Happy Thanksgiving week to you, mister Thomas.
Speaker 3 (00:21):
And let's not start this week by talking about stuff
that happened at Peycourse Stadium unless we're.
Speaker 2 (00:26):
Gonna talk about the Instant.
Speaker 3 (00:27):
Classic, not yesterday but Friday night between Santax and Older.
Speaker 2 (00:31):
What an awesome game.
Speaker 3 (00:34):
I love my sant X Bombers, but the pit is
one of the awesomest places to go see a game,
only left out by the fact that the clearview no
longer exists, so you can get a fish log and
a plastic picture of hoodie any clearview tamer and we
used to go there after Little league baseball games.
Speaker 1 (00:47):
They buy us a picture, a cooker, coal and a
and a and a bowl of pretzels and chips, and
the and the dads would sit around the table and
chug down pictures of beer.
Speaker 2 (00:56):
So fond memories, plastic pictures.
Speaker 3 (00:57):
Absolutely, that's a great place and you could order some
gastro and testina regret for the next day. Yes, I
ended up missing it unfortunately though, because we could. We
were going to go to the game, but the weather
screwed up traffic and all that, so we ended up
up at Liberty Collective up in Liberty Township. That's another
great place to watch a game on the big screen.
They've been putting high school games on there all seasoned long.
So if you get a chance, come up here to
La Coota East High School and give it a watch.
Speaker 2 (01:18):
Oh, starting off on a positive note and happy things.
Speaker 1 (01:20):
I don't want to talk about the Bengals, I know,
I know, I know, although I did. The defense did
show up for a while there during the game, Yeah
they did.
Speaker 2 (01:27):
I was impressed.
Speaker 1 (01:28):
Man, they held them at the line a couple of
different times, and I keep think of, what's a foregone conclusion,
We've got another touchdown coming our way. But now so anyway,
there was some positive light in that game, but obviously
a said overall outcome, So we're just gonna have to
live with it, and we're gonna have to live with
inflation too. I don't know where you want to start.
I know where you got the FED. Maybe maybe not
cutting the interest rate this fall, we've got middle class
(01:50):
buckling under persistent inflation. Maybe we should start with that one,
then segue over to whether we're using our money the
right or wrong way. But yeah, we have persistent inflation.
It's going on for years now. Everything's more defensive. And
Brian James, how likely is it that prices are going
to be rolled back to, say, nineteen ninety nine at
any time in the future.
Speaker 3 (02:07):
Well, I wouldn't be holding our breath on that particular topic,
mister Thomas.
Speaker 2 (02:11):
I don't think that's the way it works.
Speaker 3 (02:12):
But yeah, So what we're seeing now is we're really
starting to see the strain of inflation. So after five
years of being the way it is, lots of middle
class households are really showing some concern about it. Headline
inflation has fallen from twenty twenty two, so we're not
at the nine percent crazy.
Speaker 2 (02:29):
Inflation that we used to be, but it's still up right.
Speaker 3 (02:32):
So the inflation doesn't generally go back to the way
it was, It just stops increasing at the same rate.
So where we did have nine percent inflation, we've dropped
back to three. We would very much appreciate if we
could get back to two percent, that would be nice,
but that's probably not in the cars anytime soon. So
households earning sixty six thousand to maybe two hundred thousand
are part of this survey, and just lots of them
(02:53):
claiming that they know their purchasing power has declined and
really starting to see the numbers come through in their checking.
Speaker 1 (03:00):
Well, doesn't this serve as a moment of reflection to
pause and really think about whether or not this is
the way I've lived my life? Brian James? Do I
really need it now? I occasionally bend the rule and
give myself a little pat of the back or gift
as a consequence of my hard work, But a lot
of times, you know, I'll stand there it's like, no,
don't need it. I don't really need to buy that.
It's an impulse by If I wait five minutes, I'm
(03:22):
it's going to clear my head. I'll move on with
my wife, and I won't regret not buying whatever it
is I'm contemplating. But it's been a real check on
managing money over the years, with my wife and I
I'm lucky enough to have married a very frugal woman
who kind of goes through life the same way. Do
I really need it? The answer is not really, Then
you just do it out. It's like Starbucks coffee. Anytime
I read an article about someone complaining about inflation then
(03:42):
turns to their eight dollars a cup Starbucks, I'm sorry,
I've got no love for that. You buy a count
two pounds of coffee at Costco. Yes, it's now eighteen
ninety nine for the two pounds, but you can make
fat tons of coffee, pots pot's worth of coffee that
are less money than the eight dollars one single cup
at Starbucks is one of many things to get unto
my skin, Brian. But then again, you choose what you
(04:04):
want to spend money on. But there are ways that
we can all trim. Don't we need to reflect on
what's important?
Speaker 2 (04:09):
Brian James.
Speaker 3 (04:10):
Yeah, I think it's been a few decades really since
we've had since the country as a whole has been
really forced to choose this. But not that because we've
been so successful economically that we've many people really just
haven't been forced into that situation and like you just raised,
you're not either, and neither am I, except that we
notice it. So in the conversations I have with my clients,
(04:31):
you know, there's really.
Speaker 2 (04:32):
Two worlds out there.
Speaker 3 (04:33):
There are people who are forced and have to cut
back and it's just the way it is, and there
are people who are just annoyed by it. It seems
like everybody is in one of two groups. And unfortunately,
we're just in a situation where the country has been
so successful economically that we can afford to get away
with it for now, and that hurts a lot of
people that are on the lower end of the economic spectrum.
Those are the ones that are getting hurt. The rest
(04:54):
of us are just annoyed. So be thankful if you're
in that latter group. Be thankful on Thursday that that's
the case you. If you can choose not to do
something because it annoys you that it's too expensive, that's
one thing. If you have to do it and you
have to sacrifice something else important, that is another thing.
Speaker 1 (05:09):
Entirely well, yeah, and your last word is the most
important thing, an operative word in the sense if it's important.
Very surely we are priorities about what is truly important.
I think are kind of out of whack, and I
agree with you completely for the reasons you stayed. We've
just had it so wonderful in this country for so
long you really pretty much have to go back to
I don't know whether it was the tech bubble to burst,
(05:31):
the housing bubble to burst, but I think more fundamentally,
the entire decade that was the nineteen seventies to get
to a point where things were really really crappy and
everyone pretty much felt it, including the house I grew
up in.
Speaker 3 (05:42):
Yeah, and I would say all of the different things
that have happened, and I've mentioned this before, but over
the last say fifty years, like you mentioned, the seventies
touched everybody, not a lot of you know, you couldn't
really find corners of the economy they were doing well
Versus two thousand and two, twenty and eight, and twenty
twenty two. All of those came along with crazy stock
market and economic swings, but those each one, and each
(06:03):
one of those became a catalyst.
Speaker 2 (06:05):
Right.
Speaker 3 (06:06):
So, so two thousand and two we had the tech
bubble burst that cleaned up the tech industry, and then
it went on to the Great Heights that we've seen now.
Two thousand and eight, we saw the financial backbone of
the country almost collapsed. Cleaned that up and went on
to greater heights too. Twenty twenty two was the COVID pullback,
and that ended up becoming a tech boom because everybody
had to go get a second desktop worth of technology
(06:26):
to bring it home. All those things drove the market higher,
and I would say, I agree with you. In the seventies,
that really wasn't the case. We had ten years of stagnancy.
Even if you were doing okay, it meant you were
treading water. The rest of the country was kind of
occasionally bobbing up and down below the surface. So yeah,
it's been a long time since we've had to sacrifice.
And when I look back, I feel like the eighties
(06:46):
and the nineties were the anomaly because really, nothing bad,
nothing crazy, happened. We had twenty years worth of solid
markets and there I think there's a whole generation to
people who feel like that every pullback has been since
then has been a mistake, something went wrong. But if
you look back over history, that's not the case. It's
the opposite. There's usually chaos. The eighties and the nineties
were too quiet, and that led a whole generation plus
(07:07):
of people to think that that was the norm. So
that gave us kind of a bit of a mistaken
underpinning of what we think the economy is supposed to be.
But I believe over the last quarter century or so,
we've been reminded that it don't work.
Speaker 2 (07:21):
That way all the time.
Speaker 1 (07:21):
Yeah, and you know, one of the points that was
made in this American Happiness is that a record low
are we just using money the wrong way? Article that's
kind of served as the impetus for this discussion some degree. Anyway,
And you know, back to my complaint about Starbucks coffee.
I love this woman who's quoted in the article. You know,
she cried every day after buying a five thousand square
foot house in Brooklyn, and she's lamenting that, Oh, it
(07:43):
was my dream to have, you know, grow up in
a big house or you know, raised my family in
a big house. Well maybe the dream was misplaced. I mean,
I think about this. She recoonized, Okay, we had cleaning
the house was a big, massive undertaking. Then her mom
shows up and says, you don't have any window treatments.
You need window treatment. So She's like, okay, I'm going
to come to now. I spend my time doing window treatments.
You know, furnishing a big home like that is expensive,
(08:04):
cleaning it, heating it, you know, more a cooling of
the summertime. What are you using it for? Is this
keep up with the joneses? Are you a victim of
so much marketing that you feel that unless you have
something that is extraordinarily large, too large for your even
your basic needs, that that's the right way to go.
Speaker 2 (08:21):
Do you need it? That's going back to my fundamental question,
do you really need it? Right?
Speaker 3 (08:26):
And I think that's where we've convinced ourselves that we
deserve certain things, and then certain things are just expected
to be. As you said, it was always her dream
to raise a family in her you know, in a
large house. So I think back to the books that
John Steinbeck wrote about the Great Depression.
Speaker 2 (08:39):
It was somebody's dream to raise a family in a house.
Speaker 3 (08:42):
I don't think anybody's going to be writing any classic
American literature about not being able to get the window
treatments you want.
Speaker 2 (08:48):
I know, that's exactly my point. Maybe we need to
step back and just adjust a little bit.
Speaker 1 (08:54):
I know we have a consumer driven economy, but come on, really,
you know.
Speaker 3 (08:59):
Great to do a little introspection and make sure that
you're you're focused on the right things.
Speaker 2 (09:03):
And that goes for me too, rightmre.
Speaker 3 (09:06):
We're fortunate to not have you know, similar I know,
I know I don't have too many concerns, but at
the same time that also causes me to gripe about
things that I really should be thankful about exactly.
Speaker 1 (09:15):
But you see, and you're right, I'll acknowledge my privilege.
My wife and I worked very, very hard get to
a point where, you know, we're comfortable and I don't
see any envisioned any problems. But then again, I never
was I went I never went down this road. I
wouldn't be where I am today if I had been,
you know, uh captivated by keeping up with the Joneses,
or it's just maybe this is a good time to
(09:38):
readjust maybe start reflecting on priorities, being thankful for what
we have and maybe saying, you know what, I don't
care what that guy on the street's got, what he's
spending it on. In fact, I remember that my favorite
commercial was the guy driving the lawnmower and he's in
this front of this massive, gorgeous house, and you know,
brand new Lahmer and he's driving. He's had this big
grin on his face, and all he's thinking about is
(09:58):
how underwater he is. For all the stuff that you
had cut acquired.
Speaker 3 (10:02):
Probably can't fit that long more back in the garage
because of all the other.
Speaker 2 (10:05):
Craft that's in there.
Speaker 1 (10:06):
Exactly your possessions will own you. Maybe we need to
start thinking about that little bit.
Speaker 2 (10:11):
Brian.
Speaker 1 (10:12):
All right, let's be thankful for what we have and
let's move on and find out what's the FED gonna
do about it? If anything, Plus, is Thanksgiving going to
be cheaper this year?
Speaker 2 (10:20):
More?
Speaker 1 (10:20):
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Speaker 2 (11:20):
Hey, twenty if fIF.
Speaker 1 (11:21):
You about Karose, you talk station Brian Thomas with all
our financials, Brian James's doing what we call money Monday.
Here's a rhetorical question for you there, Brian, as it
was waiting for the commercial break to be over, would
you turn down a proposal from your true love for want.
Speaker 2 (11:35):
Of the diamond that you had in mind that you wanted.
Speaker 3 (11:39):
Oh, and we'd be looking at lab diamonds all day
every day. Because I'm a financial planner and she is
extremely frugal too.
Speaker 2 (11:46):
See lab diamonds.
Speaker 1 (11:48):
There, they'll pick the frugal woman, that's what you need.
Or frugal meat.
Speaker 3 (11:53):
Hey, just pick somebody who's yeah, who is doesn't have
a wing it mentality?
Speaker 1 (11:58):
Right, You know you can always upgrade the road too
when you get more money. If you're financially you're talking
about the diamond or the spouse. No, the diamond, Yeah,
I forgot you, well, because that's what I did. I
bought the diamond on the day we just I decided
I was going to ask her to be my wife,
and went out and bought it. And I went to
the you know, the jewelers row there in Chicago, and
that's where I went, and I got what I could afford.
Speaker 2 (12:20):
But it was a plain simple you know.
Speaker 1 (12:22):
I think the setting where it was like one hundred
dollars for the gold band, that's all. It was a
diamond in a band. Well, several years later, you know,
things had gotten a little better for us financially. I
bought her a new setting and it's got diamonds in
it and all this kind of stuff, so it acts
censoring and she loves it. You know, didn't get it
all at the first that waited a little bit.
Speaker 2 (12:40):
That's ironic.
Speaker 3 (12:40):
That's the exact same place that we did our kidding
working up there at the time. And yeah, she she
the only thing she gave me was she had there
was she had a shape that she wanted. Nothing else mattered,
and we talked about upgrading it down the road, but
by the time we got there, the other things just
had become more important that we were working on together.
Speaker 2 (12:54):
Family and house and all that other stuff. And so
she still got the same one that she used to have.
And you know what it has now sentimental value. There
you got.
Speaker 1 (13:02):
I didn't get everything I wanted. But you know what,
here we are today after all these years, and I
have something to look at and reflect on and think,
you know what, it isn't the ring that matters.
Speaker 2 (13:11):
Right, we are still here.
Speaker 1 (13:13):
Heymen, brother, over to the Federal Reserve. Now, one thing
I have to observe. If the Federal Reserve cuts rates,
that's fine. People may get a little giddy with excitement.
It would be fine because presumably interest rates for home
purchases would go down, But that does not alter the
supply landscape, and it doesn't mean the price of homes
mean is going to be more affordable. I would argue
maybe less so since more people might be in the market.
Speaker 3 (13:35):
Yeah, and we've actually had some conversations on our with
with other experts in the real estate space, basically saying
that we could swing back into the seller's market a
little bit with this because of that. Just yeah, I
mean not a whole lot, just but it's just not
the steady march you know, downward in terms of pricing
and all that. Because of what you just said. There
are people who have been sitting on the sidelines who
(13:55):
don't have to buy a house, maybe would really really
like to, but we're pausing waiting on inch. Well, we've
had some interest rate cuts and that is bringing people
back in the fold. If you've got a mortgage a
few years ago, then you might be looking currently. We've
had some upticks too, but over the last several weeks
you might have been able to get in at it
maybe a full one to one and a half percent
a lower refinance rate to knock down that close to
(14:16):
eight percent mortgage you were forced to get a few
years ago. So we're still on that path, but it's
not as likely than it was for another rate cut
here in December. So we've got some of the comments
that came out at the end of October from the
various Fed governors basically are indicating a completely split opinion.
There are those who want to go ahead and cut
(14:36):
because of the labor situation, that's we want the lower rates,
and the other half things that we need to remain
at current levels because inflation is still a little higher
than we want. Like we said earlier, we're way down
off the nine percent peak, but we would very much
prefer to be closer to two percent currently a little
above three. So it depends on what camp you're in.
We may or may not be looking at a rate
(14:57):
cut here in December, but it's not as likely as
it once appeared.
Speaker 1 (15:00):
Well, I know the labor report was pretty good, but
what is this, this persistent inflation. It seems to me
that at some point employers are going to have to start,
you know, ratcheting up the salaries so people can afford
to buy things, because again, as you pointed out, the
prices are never going to come down. They're just going
to either just increase by less if the if the
(15:20):
rate of inflation drops.
Speaker 3 (15:21):
But well, I mean, I don't I don't know if
you meant it this way or not, but you kind
of said that. What you what I heard you say,
was that employers will have to look at raising wages, well,
not necessarily, as long as people keep showing up to work,
and if they've got the option to start using AI
to wipe things out. So I think over the long
over the longer homes. Yeah, opposite, So it's going to
be a little harder to hang on to that job
for all those reasons. But at the end of the day,
(15:43):
if they can make the same profit, or heaven forbid,
actually raise it a little bit and hide the profit
margin under the blame of inflation, then they're absolutely going
to do that because we are the United States a
profit margin.
Speaker 1 (15:53):
We are, indeed, And another reason you just chimed in there,
artificial intelligence versus maybe a career in the t which
I don't see artificial intelligence replacing any time soon, Brian.
Speaker 2 (16:04):
Nod I would absolutely agree with that.
Speaker 3 (16:06):
And that's that kind of work and working with people healthcare,
you know, in home care, those kinds of things, dealing
helping people aging, those kinds of things. I think where
you are truly have a personal connection that is absolutely
there's great opportunities there and that should not be overlooked.
Maybe you had a dream of something larger, but be
real careful and understand what artificial intelligence is going to
(16:26):
be doing to a lot of different industries. Doesn't mean
don't pursue it, but go in eyes wide open, Turkey
dinner as an indicator of inflation, among other things. They're
going to have one more segment here with money, mondays
Brian James, Brian, hang on, get right back with you.
Speaker 2 (16:38):
Just a minute. Fifty five KRC service to America.
Speaker 1 (16:43):
Just I have a thirty fifty five KRCD talk station.
That's the love for the veterans coming your way. In
the next segment, carsee cares and it does. Chris Cluffe
the since ANYVA got a couple of new outpatient clinics,
a new eye center, and we'll find out about those locations,
what they're offering, and other things that the VA can
do and will do for the American veteran. God bless
you every one of them. Brian James. Flipping over to
Thanksgiving dinner, Donald Trump said it is gonna be twenty
(17:04):
It's gonna be twenty five percent less this year. Some
raising a John Desci of skepticism, Where are you on
the realities of Thanksgiving? At least it doesn't usually involve beef.
Speaker 2 (17:16):
This is true.
Speaker 3 (17:17):
We can not talk about beef, and eggs aren't the
star of the show either this time around. So, yeah,
it's the time of year where we talk about how
much it costs to lay out a table for your
loved ones for Thanksgiving. And the survey we normally talk
about comes from the Farm Bureau, and to me, that's
the one that counts. If you're gonna look at data,
you know, over a long period of time, it really
kind of has to be the same data or you're
just kind of making stuff up. So the Farm Bureaus
(17:39):
one is, this is forty years old now. In their
estimate is that the Thanksgiving feast for ten will be
about fifty five dollars and eighteen cents. For twenty twenty five, now,
that is about five percent lower than twenty twenty four.
So I think it's factual to say that, yes, costs
have declined, and this is the third straight year of
declines after previous record highs. Go figure, the Farm Bureau's
(17:59):
survey peaked about three years ago, when we had crazy
nine percent inflation.
Speaker 1 (18:03):
Well wait, didn't the bird flu have an impact on
that as well, because all everything does.
Speaker 3 (18:07):
Yeah, the bird flu comes, comes and goes. You know,
we hear about it every few years. So absolutely that
was there, plus just a cost of hauling a cranberry
goop across the you know, in a truck coop.
Speaker 2 (18:17):
Maybe being a little cynical, but it is what it is.
Speaker 3 (18:21):
So we're contrasting that, though with what you mentioned, which
the White House wanted to latch onto a claim that
the Thanksgiving dinner basket is going to be about twenty
five percent less this year compared with last.
Speaker 2 (18:31):
Now that's not untrue. They're not making it up.
Speaker 3 (18:33):
But what they're looking at is the promotional basket from Walmart,
which at that point of that's forty bucks for ten people.
Last year was about fifty six dollars for eight people.
But that itself is not apples to apples. The Walmart
twenty twenty five basket only had fifteen things in it,
where in twenty twenty four it had twice as many.
So there's you can eat less for half the costs.
Speaker 2 (18:58):
Size basket it has got less stuff. Is look at
the size of the basket. Everybody focus on that.
Speaker 3 (19:03):
So you know, again, it's not untrue that the costs
have come down, but it is also not true that
it came down twenty five percent.
Speaker 1 (19:11):
That's not a thing. Well, you know, you can't get
things on sale. And here's a fun fact. It's a
money tip for everybody who has a dog. Yams. Yams
were like forty seven cents a pound, which is a
significant drop from the normal price of yams, plain old
uncooked yams in a back. I think they were even
maybe less than that. My wife bought like twenty pounds.
Why because if you slice them up thin and you
dehydrate them, the dogs love them. It is the most
(19:33):
inexpensive dog treat you can buy, and your dogs will
be happier eating the dehydrated, crispy crunchy yams than they
would anything you could buy from a manufacturer. Wholesome, nutritious,
no preservatives, no additives. There's your money tip for the day.
Speaker 3 (19:47):
Brian James and up thirty seven percent according to the
Farm Bureau. Sweet potatoes spiked last year, So you're you're
gonna need to kind of sacrifice some things.
Speaker 2 (19:55):
You want to keep that tradition going.
Speaker 1 (19:59):
Hate to burch your sad me Thanksgiving eighteen dollars a
bag dog treats from the manufacturer. No thank you, no
thank you. This makes us a great tip. Oh and
I passed along to the youthful Sean McMahon who's covering
the show for Joe just tracker, and I wanted to
ask you this because this is a point that came
up back in the day. I basically thought, I'm the
Mary Smart right. I mean, if you got a good spouse,
(20:19):
your life will be more stable. You're on the same
page in terms of finances. It's easy for two incomes
to afford than one, obviously, so getting married to me
has always been a valuable thing from a financial stability standpoint.
But Nathan and Ed used to say, you know, if
you want to, you know, get a nice nested egg
and be comfortable and happy in life, then get married,
(20:39):
but never ever get divorced, because that'll send you the
exact opposite direction. So ultimately you're left with the choice
of making sure you find the right person up front
or never get married.
Speaker 2 (20:50):
Yeah, that is very much.
Speaker 3 (20:52):
You want to get that decision right to begin with,
and it's a team sport from it. It start to end,
and I would throw out the most awkward client situations
I have, or maybe only one of the two will
show up to a meeting where we review their finances.
That means one person has absolutely no idea what's going on,
and I just assume that there's little to no conversation.
Those are the ones that I know I'm going to
be coming back three, four or five years ago and
(21:12):
we're going to be splitting.
Speaker 2 (21:13):
Up the assets.
Speaker 1 (21:14):
It's a shame to see that. Or alternatively, try to
be a little positive in it. The other person trusts
the spouse so completely that he or she is making
the right financial decisions, there's no need for the other
person to show up, particularly if they're not interested in it.
Although trust me, I see the pitfalls associated with that.
Speaker 3 (21:31):
Yes, that is true, and the pitfalls you're referring to
is we don't get to call all of our shots
in life one day. If you are the spouse who's
been trusting, then that's great, except you may need to
make the decisions. You've got to have an idea roughly
of where things are or who the advisor is that's
going to help you through it. At least be able
to pick them out of a crowd.
Speaker 1 (21:46):
And I would argue most people are not capable of
going through that exercise, which is exactly why you need
the help of a financial planner who has a fiduciary
obligation to you. And that's what Brian does each and
every day. And I appreciate you coming to the show
every Monday and indulging me with my ramble links Brian James,
but also passing along some great information. We'll do this
again next Monday, and again Happy Thanksgiving to you and
the family and everybody at all Worth.
Speaker 3 (22:07):
And I appreciate you tolerating my ramblings. Thank you for
that opportunity, and we will talk to you next week.
Speaker 1 (22:11):
Mutual exchange of ideas, that's what it's all about. Here
on the fifty five KRC Morning Show eight thirty five.
Right now the veterans American Vetdom, we're going to help
him out. KRS Care segment with Chris Kluk from the
Cincinniva got some important information to pass along. I hope
you can stick around.
Speaker 3 (22:25):
This is fifty five KARC, an iHeartRadio station.
Kyo fik you about karsened De talk Station. Happy Monday,
Christopher Smithman and the Smithvent if you have Karse dot
com on the podcast page, and welcome back to the
fifty five Krose Morning Show. Monday Monday's Brian James. Thanks
to All Word Financial Loan and you out every Monday.
It's good to have you on the show.
Speaker 2 (00:19):
Happy Thanksgiving week to you, mister Thomas.
Speaker 3 (00:21):
And let's not start this week by talking about stuff
that happened at Peycourse Stadium unless we're.
Speaker 2 (00:26):
Gonna talk about the Instant.
Speaker 3 (00:27):
Classic, not yesterday but Friday night between Santax and Older.
Speaker 2 (00:31):
What an awesome game.
Speaker 3 (00:34):
I love my sant X Bombers, but the pit is
one of the awesomest places to go see a game,
only left out by the fact that the clearview no
longer exists, so you can get a fish log and
a plastic picture of hoodie any clearview tamer and we
used to go there after Little league baseball games.
Speaker 1 (00:47):
They buy us a picture, a cooker, coal and a
and a and a bowl of pretzels and chips, and
the and the dads would sit around the table and
chug down pictures of beer.
Speaker 2 (00:56):
So fond memories, plastic pictures.
Speaker 3 (00:57):
Absolutely, that's a great place and you could order some
gastro and testina regret for the next day. Yes, I
ended up missing it unfortunately though, because we could. We
were going to go to the game, but the weather
screwed up traffic and all that, so we ended up
up at Liberty Collective up in Liberty Township. That's another
great place to watch a game on the big screen.
They've been putting high school games on there all seasoned long.
So if you get a chance, come up here to
La Coota East High School and give it a watch.
Speaker 2 (01:18):
Oh, starting off on a positive note and happy things.
Speaker 1 (01:20):
I don't want to talk about the Bengals, I know,
I know, I know, although I did. The defense did
show up for a while there during the game, Yeah
they did.
Speaker 2 (01:27):
I was impressed.
Speaker 1 (01:28):
Man, they held them at the line a couple of
different times, and I keep think of, what's a foregone conclusion,
We've got another touchdown coming our way. But now so anyway,
there was some positive light in that game, but obviously
a said overall outcome, So we're just gonna have to
live with it, and we're gonna have to live with
inflation too. I don't know where you want to start.
I know where you got the FED. Maybe maybe not
cutting the interest rate this fall, we've got middle class
(01:50):
buckling under persistent inflation. Maybe we should start with that one,
then segue over to whether we're using our money the
right or wrong way. But yeah, we have persistent inflation.
It's going on for years now. Everything's more defensive. And
Brian James, how likely is it that prices are going
to be rolled back to, say, nineteen ninety nine at
any time in the future.
Speaker 3 (02:07):
Well, I wouldn't be holding our breath on that particular topic,
mister Thomas.
Speaker 2 (02:11):
I don't think that's the way it works.
Speaker 3 (02:12):
But yeah, So what we're seeing now is we're really
starting to see the strain of inflation. So after five
years of being the way it is, lots of middle
class households are really showing some concern about it. Headline
inflation has fallen from twenty twenty two, so we're not
at the nine percent crazy.
Speaker 2 (02:29):
Inflation that we used to be, but it's still up right.
Speaker 3 (02:32):
So the inflation doesn't generally go back to the way
it was, It just stops increasing at the same rate.
So where we did have nine percent inflation, we've dropped
back to three. We would very much appreciate if we
could get back to two percent, that would be nice,
but that's probably not in the cars anytime soon. So
households earning sixty six thousand to maybe two hundred thousand
are part of this survey, and just lots of them
(02:53):
claiming that they know their purchasing power has declined and
really starting to see the numbers come through in their checking.
Speaker 1 (03:00):
Well, doesn't this serve as a moment of reflection to
pause and really think about whether or not this is
the way I've lived my life? Brian James? Do I
really need it now? I occasionally bend the rule and
give myself a little pat of the back or gift
as a consequence of my hard work, But a lot
of times, you know, I'll stand there it's like, no,
don't need it. I don't really need to buy that.
It's an impulse by If I wait five minutes, I'm
(03:22):
it's going to clear my head. I'll move on with
my wife, and I won't regret not buying whatever it
is I'm contemplating. But it's been a real check on
managing money over the years, with my wife and I
I'm lucky enough to have married a very frugal woman
who kind of goes through life the same way. Do
I really need it? The answer is not really, Then
you just do it out. It's like Starbucks coffee. Anytime
I read an article about someone complaining about inflation then
(03:42):
turns to their eight dollars a cup Starbucks, I'm sorry,
I've got no love for that. You buy a count
two pounds of coffee at Costco. Yes, it's now eighteen
ninety nine for the two pounds, but you can make
fat tons of coffee, pots pot's worth of coffee that
are less money than the eight dollars one single cup
at Starbucks is one of many things to get unto
my skin, Brian. But then again, you choose what you
(04:04):
want to spend money on. But there are ways that
we can all trim. Don't we need to reflect on
what's important?
Speaker 2 (04:09):
Brian James.
Speaker 3 (04:10):
Yeah, I think it's been a few decades really since
we've had since the country as a whole has been
really forced to choose this. But not that because we've
been so successful economically that we've many people really just
haven't been forced into that situation and like you just raised,
you're not either, and neither am I, except that we
notice it. So in the conversations I have with my clients,
(04:31):
you know, there's really.
Speaker 2 (04:32):
Two worlds out there.
Speaker 3 (04:33):
There are people who are forced and have to cut
back and it's just the way it is, and there
are people who are just annoyed by it. It seems
like everybody is in one of two groups. And unfortunately,
we're just in a situation where the country has been
so successful economically that we can afford to get away
with it for now, and that hurts a lot of
people that are on the lower end of the economic spectrum.
Those are the ones that are getting hurt. The rest
(04:54):
of us are just annoyed. So be thankful if you're
in that latter group. Be thankful on Thursday that that's
the case you. If you can choose not to do
something because it annoys you that it's too expensive, that's
one thing. If you have to do it and you
have to sacrifice something else important, that is another thing.
Speaker 1 (05:09):
Entirely well, yeah, and your last word is the most
important thing, an operative word in the sense if it's important.
Very surely we are priorities about what is truly important.
I think are kind of out of whack, and I
agree with you completely for the reasons you stayed. We've
just had it so wonderful in this country for so
long you really pretty much have to go back to
I don't know whether it was the tech bubble to burst,
(05:31):
the housing bubble to burst, but I think more fundamentally,
the entire decade that was the nineteen seventies to get
to a point where things were really really crappy and
everyone pretty much felt it, including the house I grew
up in.
Speaker 3 (05:42):
Yeah, and I would say all of the different things
that have happened, and I've mentioned this before, but over
the last say fifty years, like you mentioned, the seventies
touched everybody, not a lot of you know, you couldn't
really find corners of the economy they were doing well
Versus two thousand and two, twenty and eight, and twenty
twenty two. All of those came along with crazy stock
market and economic swings, but those each one, and each
(06:03):
one of those became a catalyst.
Speaker 2 (06:05):
Right.
Speaker 3 (06:06):
So, so two thousand and two we had the tech
bubble burst that cleaned up the tech industry, and then
it went on to the Great Heights that we've seen now.
Two thousand and eight, we saw the financial backbone of
the country almost collapsed. Cleaned that up and went on
to greater heights too. Twenty twenty two was the COVID pullback,
and that ended up becoming a tech boom because everybody
had to go get a second desktop worth of technology
(06:26):
to bring it home. All those things drove the market higher,
and I would say, I agree with you. In the seventies,
that really wasn't the case. We had ten years of stagnancy.
Even if you were doing okay, it meant you were
treading water. The rest of the country was kind of
occasionally bobbing up and down below the surface. So yeah,
it's been a long time since we've had to sacrifice.
And when I look back, I feel like the eighties
(06:46):
and the nineties were the anomaly because really, nothing bad,
nothing crazy, happened. We had twenty years worth of solid
markets and there I think there's a whole generation to
people who feel like that every pullback has been since
then has been a mistake, something went wrong. But if
you look back over history, that's not the case. It's
the opposite. There's usually chaos. The eighties and the nineties
were too quiet, and that led a whole generation plus
(07:07):
of people to think that that was the norm. So
that gave us kind of a bit of a mistaken
underpinning of what we think the economy is supposed to be.
But I believe over the last quarter century or so,
we've been reminded that it don't work.
Speaker 2 (07:21):
That way all the time.
Speaker 1 (07:21):
Yeah, and you know, one of the points that was
made in this American Happiness is that a record low
are we just using money the wrong way? Article that's
kind of served as the impetus for this discussion some degree. Anyway,
And you know, back to my complaint about Starbucks coffee.
I love this woman who's quoted in the article. You know,
she cried every day after buying a five thousand square
foot house in Brooklyn, and she's lamenting that, Oh, it
(07:43):
was my dream to have, you know, grow up in
a big house or you know, raised my family in
a big house. Well maybe the dream was misplaced. I mean,
I think about this. She recoonized, Okay, we had cleaning
the house was a big, massive undertaking. Then her mom
shows up and says, you don't have any window treatments.
You need window treatment. So She's like, okay, I'm going
to come to now. I spend my time doing window treatments.
You know, furnishing a big home like that is expensive,
(08:04):
cleaning it, heating it, you know, more a cooling of
the summertime. What are you using it for? Is this
keep up with the joneses? Are you a victim of
so much marketing that you feel that unless you have
something that is extraordinarily large, too large for your even
your basic needs, that that's the right way to go.
Speaker 2 (08:21):
Do you need it? That's going back to my fundamental question,
do you really need it? Right?
Speaker 3 (08:26):
And I think that's where we've convinced ourselves that we
deserve certain things, and then certain things are just expected
to be. As you said, it was always her dream
to raise a family in her you know, in a
large house. So I think back to the books that
John Steinbeck wrote about the Great Depression.
Speaker 2 (08:39):
It was somebody's dream to raise a family in a house.
Speaker 3 (08:42):
I don't think anybody's going to be writing any classic
American literature about not being able to get the window
treatments you want.
Speaker 2 (08:48):
I know, that's exactly my point. Maybe we need to
step back and just adjust a little bit.
Speaker 1 (08:54):
I know we have a consumer driven economy, but come on, really,
you know.
Speaker 3 (08:59):
Great to do a little introspection and make sure that
you're you're focused on the right things.
Speaker 2 (09:03):
And that goes for me too, rightmre.
Speaker 3 (09:06):
We're fortunate to not have you know, similar I know,
I know I don't have too many concerns, but at
the same time that also causes me to gripe about
things that I really should be thankful about exactly.
Speaker 1 (09:15):
But you see, and you're right, I'll acknowledge my privilege.
My wife and I worked very, very hard get to
a point where, you know, we're comfortable and I don't
see any envisioned any problems. But then again, I never
was I went I never went down this road. I
wouldn't be where I am today if I had been,
you know, uh captivated by keeping up with the Joneses,
or it's just maybe this is a good time to
(09:38):
readjust maybe start reflecting on priorities, being thankful for what
we have and maybe saying, you know what, I don't
care what that guy on the street's got, what he's
spending it on. In fact, I remember that my favorite
commercial was the guy driving the lawnmower and he's in
this front of this massive, gorgeous house, and you know,
brand new Lahmer and he's driving. He's had this big
grin on his face, and all he's thinking about is
(09:58):
how underwater he is. For all the stuff that you
had cut acquired.
Speaker 3 (10:02):
Probably can't fit that long more back in the garage
because of all the other.
Speaker 2 (10:05):
Craft that's in there.
Speaker 1 (10:06):
Exactly your possessions will own you. Maybe we need to
start thinking about that little bit.
Speaker 2 (10:11):
Brian.
Speaker 1 (10:12):
All right, let's be thankful for what we have and
let's move on and find out what's the FED gonna
do about it? If anything, Plus, is Thanksgiving going to
be cheaper this year?
Speaker 2 (10:20):
More?
Speaker 1 (10:20):
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(11:04):
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Speaker 2 (11:20):
Hey, twenty if fIF.
Speaker 1 (11:21):
You about Karose, you talk station Brian Thomas with all
our financials, Brian James's doing what we call money Monday.
Here's a rhetorical question for you there, Brian, as it
was waiting for the commercial break to be over, would
you turn down a proposal from your true love for want.
Speaker 2 (11:35):
Of the diamond that you had in mind that you wanted.
Speaker 3 (11:39):
Oh, and we'd be looking at lab diamonds all day
every day. Because I'm a financial planner and she is
extremely frugal too.
Speaker 2 (11:46):
See lab diamonds.
Speaker 1 (11:48):
There, they'll pick the frugal woman, that's what you need.
Or frugal meat.
Speaker 3 (11:53):
Hey, just pick somebody who's yeah, who is doesn't have
a wing it mentality?
Speaker 1 (11:58):
Right, You know you can always upgrade the road too
when you get more money. If you're financially you're talking
about the diamond or the spouse. No, the diamond, Yeah,
I forgot you, well, because that's what I did. I
bought the diamond on the day we just I decided
I was going to ask her to be my wife,
and went out and bought it. And I went to
the you know, the jewelers row there in Chicago, and
that's where I went, and I got what I could afford.
Speaker 2 (12:20):
But it was a plain simple you know.
Speaker 1 (12:22):
I think the setting where it was like one hundred
dollars for the gold band, that's all. It was a
diamond in a band. Well, several years later, you know,
things had gotten a little better for us financially. I
bought her a new setting and it's got diamonds in
it and all this kind of stuff, so it acts
censoring and she loves it. You know, didn't get it
all at the first that waited a little bit.
Speaker 2 (12:40):
That's ironic.
Speaker 3 (12:40):
That's the exact same place that we did our kidding
working up there at the time. And yeah, she she
the only thing she gave me was she had there
was she had a shape that she wanted. Nothing else mattered,
and we talked about upgrading it down the road, but
by the time we got there, the other things just
had become more important that we were working on together.
Speaker 2 (12:54):
Family and house and all that other stuff. And so
she still got the same one that she used to have.
And you know what it has now sentimental value. There
you got.
Speaker 1 (13:02):
I didn't get everything I wanted. But you know what,
here we are today after all these years, and I
have something to look at and reflect on and think,
you know what, it isn't the ring that matters.
Speaker 2 (13:11):
Right, we are still here.
Speaker 1 (13:13):
Heymen, brother, over to the Federal Reserve. Now, one thing
I have to observe. If the Federal Reserve cuts rates,
that's fine. People may get a little giddy with excitement.
It would be fine because presumably interest rates for home
purchases would go down, But that does not alter the
supply landscape, and it doesn't mean the price of homes
mean is going to be more affordable. I would argue
maybe less so since more people might be in the market.
Speaker 3 (13:35):
Yeah, and we've actually had some conversations on our with
with other experts in the real estate space, basically saying
that we could swing back into the seller's market a
little bit with this because of that. Just yeah, I
mean not a whole lot, just but it's just not
the steady march you know, downward in terms of pricing
and all that. Because of what you just said. There
are people who have been sitting on the sidelines who
(13:55):
don't have to buy a house, maybe would really really
like to, but we're pausing waiting on inch. Well, we've
had some interest rate cuts and that is bringing people
back in the fold. If you've got a mortgage a
few years ago, then you might be looking currently. We've
had some upticks too, but over the last several weeks
you might have been able to get in at it
maybe a full one to one and a half percent
a lower refinance rate to knock down that close to
(14:16):
eight percent mortgage you were forced to get a few
years ago. So we're still on that path, but it's
not as likely than it was for another rate cut
here in December. So we've got some of the comments
that came out at the end of October from the
various Fed governors basically are indicating a completely split opinion.
There are those who want to go ahead and cut
(14:36):
because of the labor situation, that's we want the lower rates,
and the other half things that we need to remain
at current levels because inflation is still a little higher
than we want. Like we said earlier, we're way down
off the nine percent peak, but we would very much
prefer to be closer to two percent currently a little
above three. So it depends on what camp you're in.
We may or may not be looking at a rate
(14:57):
cut here in December, but it's not as likely as
it once appeared.
Speaker 1 (15:00):
Well, I know the labor report was pretty good, but
what is this, this persistent inflation. It seems to me
that at some point employers are going to have to start,
you know, ratcheting up the salaries so people can afford
to buy things, because again, as you pointed out, the
prices are never going to come down. They're just going
to either just increase by less if the if the
(15:20):
rate of inflation drops.
Speaker 3 (15:21):
But well, I mean, I don't I don't know if
you meant it this way or not, but you kind
of said that. What you what I heard you say,
was that employers will have to look at raising wages, well,
not necessarily, as long as people keep showing up to work,
and if they've got the option to start using AI
to wipe things out. So I think over the long
over the longer homes. Yeah, opposite, So it's going to
be a little harder to hang on to that job
for all those reasons. But at the end of the day,
(15:43):
if they can make the same profit, or heaven forbid,
actually raise it a little bit and hide the profit
margin under the blame of inflation, then they're absolutely going
to do that because we are the United States a
profit margin.
Speaker 1 (15:53):
We are, indeed, And another reason you just chimed in there,
artificial intelligence versus maybe a career in the t which
I don't see artificial intelligence replacing any time soon, Brian.
Speaker 2 (16:04):
Nod I would absolutely agree with that.
Speaker 3 (16:06):
And that's that kind of work and working with people healthcare,
you know, in home care, those kinds of things, dealing
helping people aging, those kinds of things. I think where
you are truly have a personal connection that is absolutely
there's great opportunities there and that should not be overlooked.
Maybe you had a dream of something larger, but be
real careful and understand what artificial intelligence is going to
(16:26):
be doing to a lot of different industries. Doesn't mean
don't pursue it, but go in eyes wide open, Turkey
dinner as an indicator of inflation, among other things. They're
going to have one more segment here with money, mondays
Brian James, Brian, hang on, get right back with you.
Speaker 2 (16:38):
Just a minute. Fifty five KRC service to America.
Speaker 1 (16:43):
Just I have a thirty fifty five KRCD talk station.
That's the love for the veterans coming your way. In
the next segment, carsee cares and it does. Chris Cluffe
the since ANYVA got a couple of new outpatient clinics,
a new eye center, and we'll find out about those locations,
what they're offering, and other things that the VA can
do and will do for the American veteran. God bless
you every one of them. Brian James. Flipping over to
Thanksgiving dinner, Donald Trump said it is gonna be twenty
(17:04):
It's gonna be twenty five percent less this year. Some
raising a John Desci of skepticism, Where are you on
the realities of Thanksgiving? At least it doesn't usually involve beef.
Speaker 2 (17:16):
This is true.
Speaker 3 (17:17):
We can not talk about beef, and eggs aren't the
star of the show either this time around. So, yeah,
it's the time of year where we talk about how
much it costs to lay out a table for your
loved ones for Thanksgiving. And the survey we normally talk
about comes from the Farm Bureau, and to me, that's
the one that counts. If you're gonna look at data,
you know, over a long period of time, it really
kind of has to be the same data or you're
just kind of making stuff up. So the Farm Bureaus
(17:39):
one is, this is forty years old now. In their
estimate is that the Thanksgiving feast for ten will be
about fifty five dollars and eighteen cents. For twenty twenty five, now,
that is about five percent lower than twenty twenty four.
So I think it's factual to say that, yes, costs
have declined, and this is the third straight year of
declines after previous record highs. Go figure, the Farm Bureau's
(17:59):
survey peaked about three years ago, when we had crazy
nine percent inflation.
Speaker 1 (18:03):
Well wait, didn't the bird flu have an impact on
that as well, because all everything does.
Speaker 3 (18:07):
Yeah, the bird flu comes, comes and goes. You know,
we hear about it every few years. So absolutely that
was there, plus just a cost of hauling a cranberry
goop across the you know, in a truck coop.
Speaker 2 (18:17):
Maybe being a little cynical, but it is what it is.
Speaker 3 (18:21):
So we're contrasting that, though with what you mentioned, which
the White House wanted to latch onto a claim that
the Thanksgiving dinner basket is going to be about twenty
five percent less this year compared with last.
Speaker 2 (18:31):
Now that's not untrue. They're not making it up.
Speaker 3 (18:33):
But what they're looking at is the promotional basket from Walmart,
which at that point of that's forty bucks for ten people.
Last year was about fifty six dollars for eight people.
But that itself is not apples to apples. The Walmart
twenty twenty five basket only had fifteen things in it,
where in twenty twenty four it had twice as many.
So there's you can eat less for half the costs.
Speaker 2 (18:58):
Size basket it has got less stuff. Is look at
the size of the basket. Everybody focus on that.
Speaker 3 (19:03):
So you know, again, it's not untrue that the costs
have come down, but it is also not true that
it came down twenty five percent.
Speaker 1 (19:11):
That's not a thing. Well, you know, you can't get
things on sale. And here's a fun fact. It's a
money tip for everybody who has a dog. Yams. Yams
were like forty seven cents a pound, which is a
significant drop from the normal price of yams, plain old
uncooked yams in a back. I think they were even
maybe less than that. My wife bought like twenty pounds.
Why because if you slice them up thin and you
dehydrate them, the dogs love them. It is the most
(19:33):
inexpensive dog treat you can buy, and your dogs will
be happier eating the dehydrated, crispy crunchy yams than they
would anything you could buy from a manufacturer. Wholesome, nutritious,
no preservatives, no additives. There's your money tip for the day.
Speaker 3 (19:47):
Brian James and up thirty seven percent according to the
Farm Bureau. Sweet potatoes spiked last year, So you're you're
gonna need to kind of sacrifice some things.
Speaker 2 (19:55):
You want to keep that tradition going.
Speaker 1 (19:59):
Hate to burch your sad me Thanksgiving eighteen dollars a
bag dog treats from the manufacturer. No thank you, no
thank you. This makes us a great tip. Oh and
I passed along to the youthful Sean McMahon who's covering
the show for Joe just tracker, and I wanted to
ask you this because this is a point that came
up back in the day. I basically thought, I'm the
Mary Smart right. I mean, if you got a good spouse,
(20:19):
your life will be more stable. You're on the same
page in terms of finances. It's easy for two incomes
to afford than one, obviously, so getting married to me
has always been a valuable thing from a financial stability standpoint.
But Nathan and Ed used to say, you know, if
you want to, you know, get a nice nested egg
and be comfortable and happy in life, then get married,
(20:39):
but never ever get divorced, because that'll send you the
exact opposite direction. So ultimately you're left with the choice
of making sure you find the right person up front
or never get married.
Speaker 2 (20:50):
Yeah, that is very much.
Speaker 3 (20:52):
You want to get that decision right to begin with,
and it's a team sport from it. It start to end,
and I would throw out the most awkward client situations
I have, or maybe only one of the two will
show up to a meeting where we review their finances.
That means one person has absolutely no idea what's going on,
and I just assume that there's little to no conversation.
Those are the ones that I know I'm going to
be coming back three, four or five years ago and
(21:12):
we're going to be splitting.
Speaker 2 (21:13):
Up the assets.
Speaker 1 (21:14):
It's a shame to see that. Or alternatively, try to
be a little positive in it. The other person trusts
the spouse so completely that he or she is making
the right financial decisions, there's no need for the other
person to show up, particularly if they're not interested in it.
Although trust me, I see the pitfalls associated with that.
Speaker 3 (21:31):
Yes, that is true, and the pitfalls you're referring to
is we don't get to call all of our shots
in life one day. If you are the spouse who's
been trusting, then that's great, except you may need to
make the decisions. You've got to have an idea roughly
of where things are or who the advisor is that's
going to help you through it. At least be able
to pick them out of a crowd.
Speaker 1 (21:46):
And I would argue most people are not capable of
going through that exercise, which is exactly why you need
the help of a financial planner who has a fiduciary
obligation to you. And that's what Brian does each and
every day. And I appreciate you coming to the show
every Monday and indulging me with my ramble links Brian James,
but also passing along some great information. We'll do this
again next Monday, and again Happy Thanksgiving to you and
the family and everybody at all Worth.
Speaker 3 (22:07):
And I appreciate you tolerating my ramblings. Thank you for
that opportunity, and we will talk to you next week.
Speaker 1 (22:11):
Mutual exchange of ideas, that's what it's all about. Here
on the fifty five KRC Morning Show eight thirty five.
Right now the veterans American Vetdom, we're going to help
him out. KRS Care segment with Chris Kluk from the
Cincinniva got some important information to pass along. I hope
you can stick around.
Speaker 3 (22:25):
This is fifty five KARC, an iHeartRadio station.
Brian Thomas News
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