July 9, 2026 • 19 mins
(July 09, 2026)
Graham Platner suspends campaign… who’s up next for Democrats? Should drivers be monitored for car insurance purposes? California faces a dire shortage of pediatric specialists. Workers keep leaving the U.S. labor force… experts can’t agree why.
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Speaker 1 (00:00):
You're listening to Bill Handle on demand from KFI AM
six forty KFI A M six forty Bill Handle.
Speaker 2 (00:10):
It is a Thursday morning, July the ninth, and big
news political news. Yesterday, Democratic Senator Graham Platner or now,
excuse me, candidate Graham Platner decided to bail his campaign.
He quote suspended his campaign, which means I'm bailing out,
(00:31):
I'm quitting it.
Speaker 1 (00:33):
And he is a Democrat, and he won the.
Speaker 2 (00:39):
Election, or he won the nomination, and he is going
up in the general election. Was going up in the
general election against Susan Collins, the other Democratic excuse me.
She's Republican and she's a main senator and she was
possibly going to lose because she's a pretty liberal senator
(01:03):
and not a big fan of the Republican Party and
so she doesn't have as much of support as other
Republicans do. And he is and this is the part
that is I find fascinating. He's not just a Democrat.
He is a left wing Democrat. And that's what's happening
with the party right now. It looks like the far
(01:27):
left is getting more and more attention and more and
more power. Looked at Mom'm donnie, look at other candidates
that are winning and what's going on.
Speaker 1 (01:37):
Well, Democrats have.
Speaker 2 (01:40):
Lost for the last few years, and the Senate and
the House, and you've got and in this case you
have the presidency, all right wing and the pendulum is swinging.
It's happened before when George McGovern was running for president. Man,
he was about as liberal as you can possibly get,
(02:02):
and he lost in a landslide. But what's happening now
is the left wing is rearing its head and saying, Okay,
this is where we want to move, This is where
the party is moving, This is where we want America
to move, all right. So Platner is one of those.
The problem is Platiner, even though he won the election
(02:26):
and run with the preliminary and he is now running
in the general to be the Senator, he is a
piece of work and the Democratic Party does not like him,
did not support him, wanted anybody else other than Platner.
Why because Well, accusations of being a racist, accu because
(02:51):
of this tattoo that he had on his chest, which
supposedly signifies has some Nazi connection, Does any but he
ever seen that tattoo?
Speaker 1 (03:01):
Amy? Have we ever seen pictures of that tattoo. Yes,
I haven't. And this he's covered it up.
Speaker 2 (03:06):
He's like, okay, it's skulling crossbones from what I understand.
Speaker 1 (03:12):
And something to that effect. That's a Nazi symbol.
Speaker 2 (03:15):
And by the way, the SS did use skulling crossbones.
The SS the most vicious part of Nazi Germany. I mean,
they were way out there killing squads. The Holocaust was
for the most part perpetrated by the SS, and so
that was the tattoo. And also the allegations of sexual conduct.
At first, it was texts that he sent to various women,
(03:38):
I mean right after he got married, and he admitted
those and said I was in a different place. I
was a drunkard at the time.
Speaker 1 (03:45):
And then the.
Speaker 2 (03:45):
Allegations of rape have now come up, two of them
so far, where women have come to the table and said, yep,
he raped me. Whoo, And so all of a sudden,
whatever support he had, and he had substantial support, that's gone.
Even Bernie Sanders, who was the biggest proponent of Platner
(04:09):
that was out there, gave up the ghost and said
you're done. And he kept on saying nope, nope. Well,
under under pressure in the fact that he was clearly
going to lose in a big, big way simply because
of his moral positions.
Speaker 1 (04:27):
Because the guy's a sleezball. It's that simple. I don't
know why anybody would run for the Senate.
Speaker 2 (04:34):
And when with all those those allegations, these sexual conduct allegations,
misconduct allegations, well that's exactly what happened.
Speaker 1 (04:43):
So he announces that he is leaving.
Speaker 2 (04:46):
And he only had into what thirteenth a week to
withdraw his name, and if he had not withdrawn his name,
and we didn't know that he was going to or not,
because he hadn't said he was going to. And he
the establishment quote the Democratic establishment so much because they
were against him, and they still are against him even
(05:08):
more now, and so he doesn't have the support. He
railed against the establishment, screaming and just fighting him like
crazy and saying there's a conspiracy against me. Well, that
probably is. And so he finally bailed out, and so
he is gone. And now we go to the next chapter.
(05:30):
And what is the next chapter? Well, who is going
to replace him? And the Democratic Party has only two weeks,
so there can't be there can't be another election. There's
not time there can't be a special election, so they
have a couple of weeks to come up with a
new candidate. And how do they do this? Well, there's
(05:52):
the state party, but that's one hundred people. Are they
going to decide who is going to run for the it?
And it's not a democratic decision, it's straight politics. They
don't really know where to go on this. I mean,
this is a mess. This is a gift Susan Collins
(06:14):
and the biggest way you can possibly imagine, and it's
a guy who was and is as progressive as you
can possibly get.
Speaker 1 (06:24):
Of course, he's a communist.
Speaker 2 (06:26):
The president is calling anybody who is left wing or
a socialist and they call themselves democratic socialists. They are communists,
they're not socialists. Obviously Trump has not read the definition
of communists. So what's going to happen? I think Susan
Collins has it?
Speaker 1 (06:45):
Hey Bill? Yeah.
Speaker 3 (06:47):
The skull and crossbones that he had was one that
was originally worn by SS concentration campguards and the third
SS Panzer Division called a totin komf It means death's head.
And I saw a picture of it before it was
covered over with a wolf or something.
Speaker 1 (07:04):
Yeah, yeah, Actually, dead image.
Speaker 2 (07:06):
Yeah, I actually did say that that it was done
by the worst of the SS, the Nazis who did
kill when they were responsible the physical responsibility of the Holocaust,
they actually perpetrated the Holocaust. They're the ones that killed,
ran the concentration camps, the death camps, ran the gas chambers. Yeah,
(07:31):
it's pretty miserable.
Speaker 1 (07:32):
To say the least. Okay, so he's gone.
Speaker 2 (07:35):
Ran Platner is gone, and we'll see what the next
step is a story that's going to affect all of us,
and this is a question of should drivers be monitored
for car insurance purposes? And what does that mean there? Well,
there's a bill AB three to eleven. It's been introduced
(07:56):
and it would change California insurance law by allowing to
me the driver's choice to opt in to being tracked
through something called telematics, which transmits data directly to insurance companies.
So this allows the insurance company to monitor your behavior.
(08:17):
And why would you let the insurance company monitor your
behavior in driving? Well to prove to them that you're
a great driver, the premiums should go down. And this
changes the state's insurance law completely and is drawing a
big opposition from the state insurance department as well as
(08:39):
consumer and privacy advocates, and it would let the insurance
company use telematics as technology installed in cars that transmits
information location, speed breaking, force swerving. Effectively, it's a black
box like the airline to have the modern airplanes, a
big commercial planes that track everything speed, where the plane
(09:07):
goes down, where it's turned. Well, the same thing as this.
This tells the insurance companies everything about how you drive.
Speaker 1 (09:16):
We are the only.
Speaker 2 (09:17):
State in the country that doesn't allow insurers.
Speaker 1 (09:22):
To use telematic.
Speaker 2 (09:23):
It's telematics and setting rates, and that's because of state
law which requires insurers to prioritize safety records that's it,
and miles driven and driver experience that's it. That's what
they base the rates on. And of course where you live,
well they're not supposed to, but where you live is
pretty important. And telematics tells the insurance companies a whole
(09:48):
lot more. It's collected either by smartphone and app that
because everybody carries a smartphone of course in their car,
on their person, or systems embedded in to the technolo
in the car. And the supporters are saying this is
going to make streets and highways far safer encourage better driving. Opponents,
(10:09):
of course, worry about privacy. I mean that's always a given,
lack of transpiracy, possible bias, Yes, it's there's bias. You're
a good driver, you're going to do better with the insurance.
If you're a bad driver, you're not. And it's not
just what you've been tagged for. If you haven't gotten
any tickets, even though you've blown through stop signs, you
(10:30):
are going one hundred miles an hour and there's no
cop around, so you're not going to get a speeding ticket. Well,
the telematics are going to tell the insurance company, Yeah,
you drive one hundred miles an hour, and here's when
you did it, and here's where you did it. And
when you break, this is how hard you press on
the pedal because you're breaking too late. And the author
(10:54):
Assembly Member Tina mckinner, she's a Democrat from Inglewood. She
lost three friends in car accidents in the past several years,
and she says, this is a tool to make streets safer.
It's just that simple incentivizes us to just have safer,
good driving behavior. And this makes sense when you think
(11:16):
about it, and it's California low going to change out.
I think the more information that goes out there, I
don't have a problem with the insurance companies with the
information that how good a driver I am, if it's
going to save me money, versus, how do we keep this.
Speaker 3 (11:35):
Bill from going to other insurance like health insurance because.
Speaker 2 (11:38):
The law doesn't allowed it. There has to be a
firewall there. But that's that's always the case. That's always
the case. For example, let's say you're switching insurance companies,
which I'm about to do, and medical insurance, Well, guess what,
all my entire file is going to go to the
new medical carrier, and if I switch again, my entire
(12:00):
higher file is going to go.
Speaker 3 (12:03):
So there is much privacy. But you have a good point.
That's one of the arguments. How do you stop leaving Kaiser?
Speaker 1 (12:09):
Yeah?
Speaker 2 (12:09):
I think so, Bill, I know, been there since I'm
been five years old.
Speaker 1 (12:14):
Say it isn't so, yeah, I know it is.
Speaker 2 (12:16):
So it's I can't stand eight hours wait in the
emergency room or the or the urgent care just won't
do it anymore. You go to urgent care, well, Jim
will tell you, Jim Keeney and he always gives the advice,
what's the best advice to deal with the emergency room
(12:38):
if you really need it. Stay out of emergency rooms,
is the advice he gives. Just stay out of them.
And so it's actually there's an urgent care hogue right
down the street from where I live, and I had
a couple of urgent care issues. I waited two minutes,
two minutes in the waiting room, so I paid for
(13:00):
a couple of procedures out of pocket because I was
not going to spend six hours waiting. Well, so much
for me doing commercials for Kaiser, Right, And I joke
that you go into the hospital, there's a fifty to
fifty chance I'm going to kill you. And I don't
(13:21):
know how much of a joke that is. I really
don't all right coming out p D. It's a joke.
It's a joke, and okay, because that's dropping under the
Trump administration, a lot of money is being yanked and
it's it's horrible, and so what are we going to
(13:41):
do about it? Got to change the whole system, you know,
I don't want to. I wish there were answers, and
I'm you know, it's easy to say no no, No.
Speaker 1 (13:51):
It's horrible. It's horrible. It's horrible. I mean, that's simple.
Speaker 2 (13:54):
It's a lot harder to say, Okay, here's what we
can do to fix it, because that is really complicated stuff.
I mean, you're looking, how do you change the cost
of student loans, how do you change the cost of living,
how do you change the fact that doctors make less
money as general practitioners pediatric practitioners. It's it's tough. Okay,
(14:17):
so much for that. I want to talk about the
labor force. I've talked about this before. That is kind
of weird the way we determine how the labor force
is measured. And here is the latest couple of surveys
have just come out that a million workers in this
(14:37):
past year, a million workers have left the labor force
in the United States. In June, just June, seven hundred
and twenty thousand people left the workforce, and the participation
rate and that is people that are working between sixteen
and older who are either working or looking for work,
fell to six point one point five in June. That's
(14:58):
the lowest reading since March of twenty twenty one, and
that was as a result of COVID IF you eliminate
COVID from that equation. This is the lowest rate in
five decades. So why are so many people leaving the workforce?
I mean, prices have gone crazy, a lot of people
(15:20):
need second jobs. Well, here's one reason, and this is
I think kind of dumb. Older employees who've benefit from
the booming stock market are retiring because their four oh
one K plans have exploded because the vast majority of
the money in four to one ks are in stocks,
(15:43):
as I tell you when I do commercials for lier capital.
But that doesn't explain the rate for people twenty five
to fifty five that's fallen two. Now, another reason is
companies are imposing return to office mandates. And here's what
happened with a lot of women, particularly is stay at home,
(16:06):
work from home.
Speaker 1 (16:07):
Not only is.
Speaker 2 (16:08):
It convenient for everybody in terms of those that work
at home, but also the cost of childcare is so
high that the numbers don't pan out.
Speaker 1 (16:21):
It is cheaper to not work and make no money.
Speaker 2 (16:26):
And pay for childcare than it is to pay for
childcare and go to work. And this sustained decline is
leading to slowing down the US economic growth.
Speaker 1 (16:37):
It's that simple.
Speaker 2 (16:39):
The other thing, if you're at stay at home, it's
hard to get a job back. Let's say you've been
unemployed for a year or two years and you're now
looking for work. Hey, where have you been the last year? Well,
I've been at home? Look yet, really, so you haven't
been working. That counts as you haven't been working, and
(17:05):
employers do not want to hear that. And one of
the things that you haven't developed the skills, you haven't
been on management track whatever. And there was a point
a couple of years ago where it was really really
hard to get a job, easier today than it was then,
so even trying to get back to work was tough.
(17:29):
And the problem with these stats when you talk about
unemployment stats, they're only talking about people that are not working,
who used to be working and are not. But those
that have given up looking for work, they fall off
the other end of the table. They just fall off
the edge. They're not counted, they're not counted as unemployed.
(17:53):
So let's say you've been unemployed for a year and
your four to one k K plan is doing pretty well.
Speaker 1 (18:02):
And you're no longer working.
Speaker 2 (18:03):
You're not in the formula, you're not unemployed. You just
aren't measured. And the other point I want to make
is if you if the majority of your retirement is
in a four to oh one K plan or an
era and principally stock what happens when the stock market
(18:27):
drops and all of a sudden, let's see there's a
ten percent correction. Let's say it goes down twenty five percent,
which it has certainly many times in my lifetime. You
have twenty five percent less assets. Oops, which is why, God,
(18:47):
this is basically a commercial for Leeyer Capital that you
want to even out your risk. Okay, so much for
the labor force. You're you're probably leaving the labor force,
a lot of you are. And the reasons today are, well,
they're pretty good versus a few years ago. All Right,
(19:09):
coming up, less interaction with people now, I think that's great.
I have no problem saying that that's a good thing.
But it's kind of sad. And this next segment is
titled A sad kind of Convenience. And I'll explaining Lucy
(19:30):
when we come back. KFI AM six point forty.
Speaker 1 (19:33):
You've been listening to the Bill Handle show.
Speaker 2 (19:35):
Catch my show Monday through Friday six am to nine
am and anytime on demand on the iHeartRadio app,
You're listening to Bill Handle on demand from KFI AM
six forty KFI A M six forty Bill Handle.
Speaker 2 (00:10):
It is a Thursday morning, July the ninth, and big
news political news. Yesterday, Democratic Senator Graham Platner or now,
excuse me, candidate Graham Platner decided to bail his campaign.
He quote suspended his campaign, which means I'm bailing out,
(00:31):
I'm quitting it.
Speaker 1 (00:33):
And he is a Democrat, and he won the.
Speaker 2 (00:39):
Election, or he won the nomination, and he is going
up in the general election. Was going up in the
general election against Susan Collins, the other Democratic excuse me.
She's Republican and she's a main senator and she was
possibly going to lose because she's a pretty liberal senator
(01:03):
and not a big fan of the Republican Party and
so she doesn't have as much of support as other
Republicans do. And he is and this is the part
that is I find fascinating. He's not just a Democrat.
He is a left wing Democrat. And that's what's happening
with the party right now. It looks like the far
(01:27):
left is getting more and more attention and more and
more power. Looked at Mom'm donnie, look at other candidates
that are winning and what's going on.
Speaker 1 (01:37):
Well, Democrats have.
Speaker 2 (01:40):
Lost for the last few years, and the Senate and
the House, and you've got and in this case you
have the presidency, all right wing and the pendulum is swinging.
It's happened before when George McGovern was running for president. Man,
he was about as liberal as you can possibly get,
(02:02):
and he lost in a landslide. But what's happening now
is the left wing is rearing its head and saying, Okay,
this is where we want to move, This is where
the party is moving, This is where we want America
to move, all right. So Platner is one of those.
The problem is Platiner, even though he won the election
(02:26):
and run with the preliminary and he is now running
in the general to be the Senator, he is a
piece of work and the Democratic Party does not like him,
did not support him, wanted anybody else other than Platner.
Why because Well, accusations of being a racist, accu because
(02:51):
of this tattoo that he had on his chest, which
supposedly signifies has some Nazi connection, Does any but he
ever seen that tattoo?
Speaker 1 (03:01):
Amy? Have we ever seen pictures of that tattoo. Yes,
I haven't. And this he's covered it up.
Speaker 2 (03:06):
He's like, okay, it's skulling crossbones from what I understand.
Speaker 1 (03:12):
And something to that effect. That's a Nazi symbol.
Speaker 2 (03:15):
And by the way, the SS did use skulling crossbones.
The SS the most vicious part of Nazi Germany. I mean,
they were way out there killing squads. The Holocaust was
for the most part perpetrated by the SS, and so
that was the tattoo. And also the allegations of sexual conduct.
At first, it was texts that he sent to various women,
(03:38):
I mean right after he got married, and he admitted
those and said I was in a different place. I
was a drunkard at the time.
Speaker 1 (03:45):
And then the.
Speaker 2 (03:45):
Allegations of rape have now come up, two of them
so far, where women have come to the table and said, yep,
he raped me. Whoo, And so all of a sudden,
whatever support he had, and he had substantial support, that's gone.
Even Bernie Sanders, who was the biggest proponent of Platner
(04:09):
that was out there, gave up the ghost and said
you're done. And he kept on saying nope, nope. Well,
under under pressure in the fact that he was clearly
going to lose in a big, big way simply because
of his moral positions.
Speaker 1 (04:27):
Because the guy's a sleezball. It's that simple. I don't
know why anybody would run for the Senate.
Speaker 2 (04:34):
And when with all those those allegations, these sexual conduct allegations,
misconduct allegations, well that's exactly what happened.
Speaker 1 (04:43):
So he announces that he is leaving.
Speaker 2 (04:46):
And he only had into what thirteenth a week to
withdraw his name, and if he had not withdrawn his name,
and we didn't know that he was going to or not,
because he hadn't said he was going to. And he
the establishment quote the Democratic establishment so much because they
were against him, and they still are against him even
(05:08):
more now, and so he doesn't have the support. He
railed against the establishment, screaming and just fighting him like
crazy and saying there's a conspiracy against me. Well, that
probably is. And so he finally bailed out, and so
he is gone. And now we go to the next chapter.
(05:30):
And what is the next chapter? Well, who is going
to replace him? And the Democratic Party has only two weeks,
so there can't be there can't be another election. There's
not time there can't be a special election, so they
have a couple of weeks to come up with a
new candidate. And how do they do this? Well, there's
(05:52):
the state party, but that's one hundred people. Are they
going to decide who is going to run for the it?
And it's not a democratic decision, it's straight politics. They
don't really know where to go on this. I mean,
this is a mess. This is a gift Susan Collins
(06:14):
and the biggest way you can possibly imagine, and it's
a guy who was and is as progressive as you
can possibly get.
Speaker 1 (06:24):
Of course, he's a communist.
Speaker 2 (06:26):
The president is calling anybody who is left wing or
a socialist and they call themselves democratic socialists. They are communists,
they're not socialists. Obviously Trump has not read the definition
of communists. So what's going to happen? I think Susan
Collins has it?
Speaker 1 (06:45):
Hey Bill? Yeah.
Speaker 3 (06:47):
The skull and crossbones that he had was one that
was originally worn by SS concentration campguards and the third
SS Panzer Division called a totin komf It means death's head.
And I saw a picture of it before it was
covered over with a wolf or something.
Speaker 1 (07:04):
Yeah, yeah, Actually, dead image.
Speaker 2 (07:06):
Yeah, I actually did say that that it was done
by the worst of the SS, the Nazis who did
kill when they were responsible the physical responsibility of the Holocaust,
they actually perpetrated the Holocaust. They're the ones that killed,
ran the concentration camps, the death camps, ran the gas chambers. Yeah,
(07:31):
it's pretty miserable.
Speaker 1 (07:32):
To say the least. Okay, so he's gone.
Speaker 2 (07:35):
Ran Platner is gone, and we'll see what the next
step is a story that's going to affect all of us,
and this is a question of should drivers be monitored
for car insurance purposes? And what does that mean there? Well,
there's a bill AB three to eleven. It's been introduced
(07:56):
and it would change California insurance law by allowing to
me the driver's choice to opt in to being tracked
through something called telematics, which transmits data directly to insurance companies.
So this allows the insurance company to monitor your behavior.
(08:17):
And why would you let the insurance company monitor your
behavior in driving? Well to prove to them that you're
a great driver, the premiums should go down. And this
changes the state's insurance law completely and is drawing a
big opposition from the state insurance department as well as
(08:39):
consumer and privacy advocates, and it would let the insurance
company use telematics as technology installed in cars that transmits
information location, speed breaking, force swerving. Effectively, it's a black
box like the airline to have the modern airplanes, a
big commercial planes that track everything speed, where the plane
(09:07):
goes down, where it's turned. Well, the same thing as this.
This tells the insurance companies everything about how you drive.
Speaker 1 (09:16):
We are the only.
Speaker 2 (09:17):
State in the country that doesn't allow insurers.
Speaker 1 (09:22):
To use telematic.
Speaker 2 (09:23):
It's telematics and setting rates, and that's because of state
law which requires insurers to prioritize safety records that's it,
and miles driven and driver experience that's it. That's what
they base the rates on. And of course where you live,
well they're not supposed to, but where you live is
pretty important. And telematics tells the insurance companies a whole
(09:48):
lot more. It's collected either by smartphone and app that
because everybody carries a smartphone of course in their car,
on their person, or systems embedded in to the technolo
in the car. And the supporters are saying this is
going to make streets and highways far safer encourage better driving. Opponents,
(10:09):
of course, worry about privacy. I mean that's always a given,
lack of transpiracy, possible bias, Yes, it's there's bias. You're
a good driver, you're going to do better with the insurance.
If you're a bad driver, you're not. And it's not
just what you've been tagged for. If you haven't gotten
any tickets, even though you've blown through stop signs, you
(10:30):
are going one hundred miles an hour and there's no
cop around, so you're not going to get a speeding ticket. Well,
the telematics are going to tell the insurance company, Yeah,
you drive one hundred miles an hour, and here's when
you did it, and here's where you did it. And
when you break, this is how hard you press on
the pedal because you're breaking too late. And the author
(10:54):
Assembly Member Tina mckinner, she's a Democrat from Inglewood. She
lost three friends in car accidents in the past several years,
and she says, this is a tool to make streets safer.
It's just that simple incentivizes us to just have safer,
good driving behavior. And this makes sense when you think
(11:16):
about it, and it's California low going to change out.
I think the more information that goes out there, I
don't have a problem with the insurance companies with the
information that how good a driver I am, if it's
going to save me money, versus, how do we keep this.
Speaker 3 (11:35):
Bill from going to other insurance like health insurance because.
Speaker 2 (11:38):
The law doesn't allowed it. There has to be a
firewall there. But that's that's always the case. That's always
the case. For example, let's say you're switching insurance companies,
which I'm about to do, and medical insurance, Well, guess what,
all my entire file is going to go to the
new medical carrier, and if I switch again, my entire
(12:00):
higher file is going to go.
Speaker 3 (12:03):
So there is much privacy. But you have a good point.
That's one of the arguments. How do you stop leaving Kaiser?
Speaker 1 (12:09):
Yeah?
Speaker 2 (12:09):
I think so, Bill, I know, been there since I'm
been five years old.
Speaker 1 (12:14):
Say it isn't so, yeah, I know it is.
Speaker 2 (12:16):
So it's I can't stand eight hours wait in the
emergency room or the or the urgent care just won't
do it anymore. You go to urgent care, well, Jim
will tell you, Jim Keeney and he always gives the advice,
what's the best advice to deal with the emergency room
(12:38):
if you really need it. Stay out of emergency rooms,
is the advice he gives. Just stay out of them.
And so it's actually there's an urgent care hogue right
down the street from where I live, and I had
a couple of urgent care issues. I waited two minutes,
two minutes in the waiting room, so I paid for
(13:00):
a couple of procedures out of pocket because I was
not going to spend six hours waiting. Well, so much
for me doing commercials for Kaiser, Right, And I joke
that you go into the hospital, there's a fifty to
fifty chance I'm going to kill you. And I don't
(13:21):
know how much of a joke that is. I really
don't all right coming out p D. It's a joke.
It's a joke, and okay, because that's dropping under the
Trump administration, a lot of money is being yanked and
it's it's horrible, and so what are we going to
(13:41):
do about it? Got to change the whole system, you know,
I don't want to. I wish there were answers, and
I'm you know, it's easy to say no no, No.
Speaker 1 (13:51):
It's horrible. It's horrible. It's horrible. I mean, that's simple.
Speaker 2 (13:54):
It's a lot harder to say, Okay, here's what we
can do to fix it, because that is really complicated stuff.
I mean, you're looking, how do you change the cost
of student loans, how do you change the cost of living,
how do you change the fact that doctors make less
money as general practitioners pediatric practitioners. It's it's tough. Okay,
(14:17):
so much for that. I want to talk about the
labor force. I've talked about this before. That is kind
of weird the way we determine how the labor force
is measured. And here is the latest couple of surveys
have just come out that a million workers in this
(14:37):
past year, a million workers have left the labor force
in the United States. In June, just June, seven hundred
and twenty thousand people left the workforce, and the participation
rate and that is people that are working between sixteen
and older who are either working or looking for work,
fell to six point one point five in June. That's
(14:58):
the lowest reading since March of twenty twenty one, and
that was as a result of COVID IF you eliminate
COVID from that equation. This is the lowest rate in
five decades. So why are so many people leaving the workforce?
I mean, prices have gone crazy, a lot of people
(15:20):
need second jobs. Well, here's one reason, and this is
I think kind of dumb. Older employees who've benefit from
the booming stock market are retiring because their four oh
one K plans have exploded because the vast majority of
the money in four to one ks are in stocks,
(15:43):
as I tell you when I do commercials for lier capital.
But that doesn't explain the rate for people twenty five
to fifty five that's fallen two. Now, another reason is
companies are imposing return to office mandates. And here's what
happened with a lot of women, particularly is stay at home,
(16:06):
work from home.
Speaker 1 (16:07):
Not only is.
Speaker 2 (16:08):
It convenient for everybody in terms of those that work
at home, but also the cost of childcare is so
high that the numbers don't pan out.
Speaker 1 (16:21):
It is cheaper to not work and make no money.
Speaker 2 (16:26):
And pay for childcare than it is to pay for
childcare and go to work. And this sustained decline is
leading to slowing down the US economic growth.
Speaker 1 (16:37):
It's that simple.
Speaker 2 (16:39):
The other thing, if you're at stay at home, it's
hard to get a job back. Let's say you've been
unemployed for a year or two years and you're now
looking for work. Hey, where have you been the last year? Well,
I've been at home? Look yet, really, so you haven't
been working. That counts as you haven't been working, and
(17:05):
employers do not want to hear that. And one of
the things that you haven't developed the skills, you haven't
been on management track whatever. And there was a point
a couple of years ago where it was really really
hard to get a job, easier today than it was then,
so even trying to get back to work was tough.
(17:29):
And the problem with these stats when you talk about
unemployment stats, they're only talking about people that are not working,
who used to be working and are not. But those
that have given up looking for work, they fall off
the other end of the table. They just fall off
the edge. They're not counted, they're not counted as unemployed.
(17:53):
So let's say you've been unemployed for a year and
your four to one k K plan is doing pretty well.
Speaker 1 (18:02):
And you're no longer working.
Speaker 2 (18:03):
You're not in the formula, you're not unemployed. You just
aren't measured. And the other point I want to make
is if you if the majority of your retirement is
in a four to oh one K plan or an
era and principally stock what happens when the stock market
(18:27):
drops and all of a sudden, let's see there's a
ten percent correction. Let's say it goes down twenty five percent,
which it has certainly many times in my lifetime. You
have twenty five percent less assets. Oops, which is why, God,
(18:47):
this is basically a commercial for Leeyer Capital that you
want to even out your risk. Okay, so much for
the labor force. You're you're probably leaving the labor force,
a lot of you are. And the reasons today are, well,
they're pretty good versus a few years ago. All Right,
(19:09):
coming up, less interaction with people now, I think that's great.
I have no problem saying that that's a good thing.
But it's kind of sad. And this next segment is
titled A sad kind of Convenience. And I'll explaining Lucy
(19:30):
when we come back. KFI AM six point forty.
Speaker 1 (19:33):
You've been listening to the Bill Handle show.
Speaker 2 (19:35):
Catch my show Monday through Friday six am to nine
am and anytime on demand on the iHeartRadio app,
The Bill Handel Show News
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