September 16, 2024 • 9 mins
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Get up to $10,000 in free silver with qualified accounts from my new partners at Goldco!
Go to http://JustinLikesGold.com to get a free 2024 Gold Kit or call 855.512.GOLD (4653)
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Try Cue Streaming for just $2 / day and help support the good guys https://justinbarclay.com/cue
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Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey, justin good morning.
Speaker 2 (00:02):
Yeah, we talked a little bit about this over the
weekend before it became an even more eventful weekend. But
there's a reason why all of these things are happening.
None of us happens in a vacuum. We've seen this
failed policy, the electric vehicle mandates and everything else crushing
the industry in a number of different ways. And you know,
(00:25):
I know you've been up close and personal taking a
look at this.
Speaker 1 (00:31):
It's you know, it's interesting the news that royal the
auto industry this weekend. It was not just the information
coming out of Stillanis, which has been difficult. You and
I have talked about the slow down at Stalanis, at
their flagship Jeep brand in particular, there's been layoff notices
(00:59):
come in Toledo because of the slow down in Jeep sales.
But the other story that really caught the attention of
a lot of the industry was Jim Farley was over
in China and was stunned to see the progress of
(01:23):
the Chinese in electric vehicle production. The Chinese obviously are
mandating electric vehicles in their market. They've got dozens of
companies at the government funds over there, and what the
Chinese is doing, essentially is recognizing that the rest of
(01:45):
the world is going down this EV mandate as well.
The Chinese are doing what are in their national interest,
which is making evs because China controls about eighty percent
of the materials that go into batteries. I'm bad justin
I'm down here in Nashville, Tennessee this week, and gas
(02:08):
prices here are two thirty five a gallon. It's about
half of where it is in California. That's a good
chunk under about seventy five cents under where it is
up in Michigan. It reminds you that what's in the
(02:29):
United States interest is fossil fuels. We have underneath us,
and have had for centuries, one of the world's great
deposits of fossil fuels, whether it's coal, whether it's natural gas,
and of course whether it's petroleum, where we have the
world's greatest reserves now reserves even greater than the Middle East.
(02:53):
And it is in our national interest, obviously to mine
those fossil fuels, to pass our economy with them, to
power our automobiles with them. And yet our government has
decided that our national interest is China. It's that we
should be building evs with battery materials from China. It
(03:15):
really shows you how upside down industrial policy is in
this country.
Speaker 2 (03:23):
Yeah, and again it's hard to gloss over this and
miss it, but you know, again, we talk about this
and you're looking at this from like a thirty thousand
foot view, but deep on the ground, this impacts people
in major ways in our economy. You talk with even
the saying label the economy, it's kind of impersonal, but
(03:48):
it's loss of jobs. And the person that I got
this note from over the weekend, someone who listens to
the program, has a couple of family members working there
at that plan, and you know, that's that's kind of
the way things generations have gone here at these these autoplats,
And it's not just inside those companies, but everything that
(04:11):
impacts that industry that impacts everything else in the state.
And we're looking at massive what was the report last week,
thousands of jobs and I think that number was low.
Is what you said last week would be lost in
these mandates if we move forward.
Speaker 1 (04:33):
Yeah, there's there's no doubt that the electric vehicle requires
a lot fewer jobs to make than an internal combustion engine.
But you know, I mean, electric vehicles are are a
good drive train, so is diesel, so is gasoline. Gasoline
(04:56):
powered cars or ninety percent of the cars are sold
in the United States. I mean, you know, this is
what markets work out. Customers figure out what's best for them.
And that's that's really what's been the United States strength
is letting the consumer decide. And now you have this
industrial policy that's being imposed on the United States by
(05:16):
the US government, forcing these automakers uh toward electric vehicles,
and that's naturally having disruption. But the other the other
piece of this, justin you know, talking about looking this,
looking at this from a ground view, is is that
in order to in order to pay for those electric
(05:37):
vehicles which are not uh, which are not desired widely
by less consumers, are mostly designed desired by luxury buyers. Uh.
If you're going to make a parallel line of electric
vehicles along with your gas cards, which was what the
automakers are being asked to do by the government, you've
(05:57):
got to jack up the prices on your gasoline vehicles
in order to pay for these money losing electric vehicle lines.
And so to take stolanis As an example, Jeep has
really jacked up production of its high end vehicles, a
lot of Jeep Wagoneers, a lot of Jeep Grand Cherokees,
(06:18):
sixty seventy ninety thousand dollars vehicles that have big margin
so that they can make money on those vehicles in
order to feed this electric vehicle mandate. And that means
that customers at the other end of the spectrum, folks
who want say a twenty thousand dollars Renegade or a
thirty thousand dollars Jep Cherokee, they don't get those cars anymore.
(06:39):
Those cars have been canceled. You can't buy in this
country a new Jeep Renegator, a new Jeep Cherokee, and
that means that the average price of vehicles is going
up to about fifty thousand dollars. So it also affects
what customers can buy the affordability of vehicles, and so
(06:59):
it's really pinching not only workers on the assembly line,
but it's pinching the consumers out there trying to find
an affordable vehicle, especially as the economy has started to
slow down here recently.
Speaker 2 (07:12):
Very paying Detroit News, Detroit News Talk Superstation nine ten am.
And you're talking about the stories here that Henry apparently
they don't I don't think they get the coverage they deserve.
But look, we're not going to let it go anytime.
So what's on the horizon we're watching as lots of
things are happening this week? What do you have your
(07:33):
eye on?
Speaker 1 (07:37):
Well, you and I talked last week. My favorite quote
from the debate last week was Kamala Harris a continuing
insisted cars change weather. And I think a lot of
discussion of what Donald Trump said about the ABC moderator,
(08:00):
but the ABC moderators apparently agree with Kamala Harris that
cars change weather. And I think that that line is
is so absurd that that is as consumers continue to
continue to resist this idea of of climate change, that's
that's one more thing that they're going to look at,
uh this fall and say, you know, for the for
(08:22):
the things that really matter to us, you know, you,
you know, you really got to look at at the
products we buy, and you the government has already canceled
the light bulbs that they buy. You've got a lot
of local garments that are canceling natural gas ovens and stoves,
(08:42):
and I think, I really think ultimately that that's going
to affect people as you, as you start to crimp
the products that they want to buy.
Speaker 2 (08:54):
Choices are clear this year probably never been more clear.
What we're what we're up against, what we face. Henry
pay always a pleasure. Thank you for taking the time
to lay it on us and give us the truth.
We appreciate it.
Speaker 1 (09:05):
Justin great to be with you. I have a great day.
Hey, justin good morning.
Speaker 2 (00:02):
Yeah, we talked a little bit about this over the
weekend before it became an even more eventful weekend. But
there's a reason why all of these things are happening.
None of us happens in a vacuum. We've seen this
failed policy, the electric vehicle mandates and everything else crushing
the industry in a number of different ways. And you know,
(00:25):
I know you've been up close and personal taking a
look at this.
Speaker 1 (00:31):
It's you know, it's interesting the news that royal the
auto industry this weekend. It was not just the information
coming out of Stillanis, which has been difficult. You and
I have talked about the slow down at Stalanis, at
their flagship Jeep brand in particular, there's been layoff notices
(00:59):
come in Toledo because of the slow down in Jeep sales.
But the other story that really caught the attention of
a lot of the industry was Jim Farley was over
in China and was stunned to see the progress of
(01:23):
the Chinese in electric vehicle production. The Chinese obviously are
mandating electric vehicles in their market. They've got dozens of
companies at the government funds over there, and what the
Chinese is doing, essentially is recognizing that the rest of
(01:45):
the world is going down this EV mandate as well.
The Chinese are doing what are in their national interest,
which is making evs because China controls about eighty percent
of the materials that go into batteries. I'm bad justin
I'm down here in Nashville, Tennessee this week, and gas
(02:08):
prices here are two thirty five a gallon. It's about
half of where it is in California. That's a good
chunk under about seventy five cents under where it is
up in Michigan. It reminds you that what's in the
(02:29):
United States interest is fossil fuels. We have underneath us,
and have had for centuries, one of the world's great
deposits of fossil fuels, whether it's coal, whether it's natural gas,
and of course whether it's petroleum, where we have the
world's greatest reserves now reserves even greater than the Middle East.
(02:53):
And it is in our national interest, obviously to mine
those fossil fuels, to pass our economy with them, to
power our automobiles with them. And yet our government has
decided that our national interest is China. It's that we
should be building evs with battery materials from China. It
(03:15):
really shows you how upside down industrial policy is in
this country.
Speaker 2 (03:23):
Yeah, and again it's hard to gloss over this and
miss it, but you know, again, we talk about this
and you're looking at this from like a thirty thousand
foot view, but deep on the ground, this impacts people
in major ways in our economy. You talk with even
the saying label the economy, it's kind of impersonal, but
(03:48):
it's loss of jobs. And the person that I got
this note from over the weekend, someone who listens to
the program, has a couple of family members working there
at that plan, and you know, that's that's kind of
the way things generations have gone here at these these autoplats,
And it's not just inside those companies, but everything that
(04:11):
impacts that industry that impacts everything else in the state.
And we're looking at massive what was the report last week,
thousands of jobs and I think that number was low.
Is what you said last week would be lost in
these mandates if we move forward.
Speaker 1 (04:33):
Yeah, there's there's no doubt that the electric vehicle requires
a lot fewer jobs to make than an internal combustion engine.
But you know, I mean, electric vehicles are are a
good drive train, so is diesel, so is gasoline. Gasoline
(04:56):
powered cars or ninety percent of the cars are sold
in the United States. I mean, you know, this is
what markets work out. Customers figure out what's best for them.
And that's that's really what's been the United States strength
is letting the consumer decide. And now you have this
industrial policy that's being imposed on the United States by
(05:16):
the US government, forcing these automakers uh toward electric vehicles,
and that's naturally having disruption. But the other the other
piece of this, justin you know, talking about looking this,
looking at this from a ground view, is is that
in order to in order to pay for those electric
(05:37):
vehicles which are not uh, which are not desired widely
by less consumers, are mostly designed desired by luxury buyers. Uh.
If you're going to make a parallel line of electric
vehicles along with your gas cards, which was what the
automakers are being asked to do by the government, you've
(05:57):
got to jack up the prices on your gasoline vehicles
in order to pay for these money losing electric vehicle lines.
And so to take stolanis As an example, Jeep has
really jacked up production of its high end vehicles, a
lot of Jeep Wagoneers, a lot of Jeep Grand Cherokees,
(06:18):
sixty seventy ninety thousand dollars vehicles that have big margin
so that they can make money on those vehicles in
order to feed this electric vehicle mandate. And that means
that customers at the other end of the spectrum, folks
who want say a twenty thousand dollars Renegade or a
thirty thousand dollars Jep Cherokee, they don't get those cars anymore.
(06:39):
Those cars have been canceled. You can't buy in this
country a new Jeep Renegator, a new Jeep Cherokee, and
that means that the average price of vehicles is going
up to about fifty thousand dollars. So it also affects
what customers can buy the affordability of vehicles, and so
(06:59):
it's really pinching not only workers on the assembly line,
but it's pinching the consumers out there trying to find
an affordable vehicle, especially as the economy has started to
slow down here recently.
Speaker 2 (07:12):
Very paying Detroit News, Detroit News Talk Superstation nine ten am.
And you're talking about the stories here that Henry apparently
they don't I don't think they get the coverage they deserve.
But look, we're not going to let it go anytime.
So what's on the horizon we're watching as lots of
things are happening this week? What do you have your
(07:33):
eye on?
Speaker 1 (07:37):
Well, you and I talked last week. My favorite quote
from the debate last week was Kamala Harris a continuing
insisted cars change weather. And I think a lot of
discussion of what Donald Trump said about the ABC moderator,
(08:00):
but the ABC moderators apparently agree with Kamala Harris that
cars change weather. And I think that that line is
is so absurd that that is as consumers continue to
continue to resist this idea of of climate change, that's
that's one more thing that they're going to look at,
uh this fall and say, you know, for the for
(08:22):
the things that really matter to us, you know, you,
you know, you really got to look at at the
products we buy, and you the government has already canceled
the light bulbs that they buy. You've got a lot
of local garments that are canceling natural gas ovens and stoves,
(08:42):
and I think, I really think ultimately that that's going
to affect people as you, as you start to crimp
the products that they want to buy.
Speaker 2 (08:54):
Choices are clear this year probably never been more clear.
What we're what we're up against, what we face. Henry
pay always a pleasure. Thank you for taking the time
to lay it on us and give us the truth.
We appreciate it.
Speaker 1 (09:05):
Justin great to be with you. I have a great day.
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