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The Meyers Report 5-2-2025 Fast 15
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00:00didn't have to be a genius or a scientist to know this was going to happen this is total stupidity
00:12good morning everyone welcome to the meyers report friday fast 15. it is believe it or not
00:19may 2nd 2025 the year is moving fast okay one of the interesting things that have happened is that
00:30in uh in iberia which would be the iberian peninsula which would be spain and portugal they had an
00:39amazing power outage by the way spain and portugal represent about 80 of the size of texas so it is
00:47very real don day our favorite meteorologist and climatologist what happened was it nature was it
00:56climate policy what was going on well all of the above um this is a satellite photo um of spain
01:05sunday night into monday morning wait a second that looks really dark where is it looks like north
01:12korea yeah well that's a good point bob because that's exactly was my remark when i saw this like
01:20north korea at night so you can see france up there to the north and east but this this should have been
01:25more in the news than it was i mean this was uh bad um you know people are getting stuck in elevators
01:32a nationwide blackout of really very very large proportions and i i went and checked the weather
01:39because initially everybody was saying no it wasn't uh there's no way that it could have been
01:44because of uh all the renewables and last summer spain announced that they were almost 100 renewables
01:52in their grid so keep that in mind nearly 100 what does that mean by the way you'll find out here in a
01:59second uh because that played a really big role three percent only three percent of the power going
02:07into spain and portugal is is from traditional methods and that's important in why this happened
02:13but if we just look at temperatures across spain when this happened uh you know nothing remarkable it was
02:21actually a little bit cool um and this is important you know we talk about wind power
02:27wherever you see white here across europe and spain that means winds are less than six miles an hour
02:34so we not only had very little or no wind generation but obviously at night you're not
02:41going to have much solar and what this graph here is i'm showing a second you're not going to have much
02:46i would think you'd have no solar oh no somebody will claim there's some trust me
02:53moonshine uh but yeah so so if you have a lack of wind and obviously a lack of solar and 97 of your
03:02grid is renewables you can create basically a black swan event in your grid uh where everything comes
03:11together and this is exactly what happened what this graph is showing is the huge dip
03:16uh from solar input and wind input at the same time uh that this happened late sunday and into monday
03:24morning and when you have renewable electric grids and i hate that by the way i hate that word
03:31renewable well i know it's such a misnomer all right but but when you have all of these green energy inputs
03:40you you you have multiple you have solar you would have uh the wind power you know you've got some
03:48hydro in there but since they left their traditional natural gas coal or nuclear backbone when you have
03:59these fluctuations uh a good way to describe it is is that you know it's it's like being a one-armed paper
04:07hanger you've got to you've got to be able to make moves very quickly to adjust to the fact that solar
04:14and wind are going to fluctuate if you have a steady electrical input okay it's not a problem
04:20but these big fluctuations cause frequency problems or oscillations in the grid and that caused the whole
04:26thing to go down and what's really important this is what's called inertia which is being able to keep
04:34the electricity flow going without interruptions or fluctuations this graph this bar graph here shows
04:41that nuclear natural gas coal and hydro and geothermal at the very end here provide a steady amount of power
04:52to be able to overcome fluctuations in solar and wind notice solar and wind produce no inertia they don't
05:00produce a consistent feed of energy into the system so when the solar and wind went down and we didn't
05:09see a backbone of of nuclear only three percent of their power is from nuclear in spain and that comes from
05:17france so they lost their inertia that caused the cascading effect this is going to happen again in
05:25countries that are going to go to totally green grids this is again something that was predicted by
05:31engineers and a lot of other people and the the response was well let's just wait and see what
05:38happens and here you go but well it would say it didn't have to be a genius or a scientist to know
05:45this was going to happen this is total stupidity yes and everybody saw it coming for 30 40 years
05:53right so the the the moral of the story here is is if you don't have a large amount of inertia
06:00from traditional sources of power in your green energy grid you're going to be risking something
06:08that just happened in spain and portugal like i said it's going to happen again and it's going to
06:12happen again in countries that have gone off of these traditional power sources and there's videos all
06:19over the internet of spain blowing up uh nuclear plants just like they did in germany blowing them
06:27up yeah you're getting rid of them keep in mind germany decommissioned all their nuclear power plants
06:33so did spain i mean you can't fix stupid i don't know what to tell you how many people died because of
06:40this i don't know and you'll probably not know but you could assume that the power outage was long
06:48enough that it i mean you saw the satellite photo how long did it last uh it it went through most of
06:55the day monday it really wasn't until tuesday that power got back online it was substantial how much power
07:03got back are they back up a hundred percent my understanding is they're back to a hundred percent
07:08or near it you're right there's no fixing stupid isaac speaking of no fixing stupid you just got back
07:20from washington dc visiting congress i sure did and what did you see uh we saw what did you hear yeah
07:29well we we heard and saw a lot of people that had no idea about the concerns that we have in the
07:34truck industry so i went with the illinois trucking association we did our annual walk on washington
07:40and that's exactly what we did a lot of steps i think i got about 20 000 steps in we had a we had a
07:45great time got in front of a lot of members in congress got the opportunity to speak to them about
07:49some of the pressing issues in our industry like truck parking a couple fun facts i don't want to bore you
07:57all but one there's 3.2 million trucks on the road only about 350 000 legal truck parking spots here in
08:05the country so you know we we need our members of congress to help us out with more funding
08:11for uh truck parking across the country yeah again we've talked about some of the issues truck parking
08:15being one electric vehicles electric uh electric mandate for our vehicles being two we're just not
08:21prepared for them yet the grid's not prepared for me at their unrealistic goals and again well we got a lot
08:26of a lot of a lot of our congressmen and congresswomen a lot from the left obviously being from illinois
08:32and uh shared shared what we were facing in the industry do they have a realistic view of anything
08:38uh not much they're i'll put it this way uh the best i'll say is uh they were very you know there's
08:43definitely a bipartisan uh welcoming to the uh truck parking issue but electric uh mandate and our push
08:50against that wasn't received very well as i'm sure you can imagine here in illinois so going back to
08:56what don was just talking about the congress people that with whom you you met they didn't
09:04understand that this whole thing doesn't work absolutely not i think that was the most shocking
09:08thing of it all gary and team you know you you know you get in front of these uh leaders of our
09:13country and you expect them to know a little bit more than what they do know which is again it's shocking
09:19well question is it that they didn't know or were they basically following the party line which is
09:24another way of saying were they lying to your face yeah i would say the latter for certain
09:29they were lying to your face so they knew better yep i would definitely say the latter for certain
09:34unfortunately
09:38okay bob it is a pretty quiet week economically at least in terms of news uh how'd the markets go and
09:46how are things looking well the markets were up again uh this past week it's come back
09:51really quite a quite a way uh our short-term momentum model now has been on a 50 reading for
10:00for three days that basically takes it back up into neutral territory which means
10:06you know there's really no momentum one way or the other that's really strong uh the short-term
10:12momentum for a couple of days is back to neutral but the uh the markets are still trying to figure this
10:18whole thing out and we've got a number of new economic data on april and fascinating thing to
10:26me is that uh it looks like the economy as a whole is still going along pretty well now most of the
10:34activities in the service sector but the uh the surveys that are coming out uh suggest that even the
10:41manufacturing sector is not collapsing from all the uh kerfuffle over the of the um of the tariffs
10:49and this morning's report on jobs showed a hundred and twenty nine thousand added in the private
10:57productive sector uh to me that's very important uh it's like you said private productive sector
11:03does that mean non-service jobs or does that mean no that's combination as a matter of fact almost
11:09all of those private jobs were in the service sector of the economy which is the dominant sector
11:14of the economy and that's basically what drives the economy service sector is something like 60 percent
11:20of the total uh gdp so um the service sector appears uh not to be uh a hundred twenty nine thousand
11:29that's like a two percent annual rate of increase in jobs that's pretty healthy for an april when some
11:37people were uh you know assuming the economy was just going to collapse what this does is it one
11:43second but what about inflation it seems to me that's under control yeah well the latest figures for
11:50march uh show that inflation was under control that there was absolutely no inflation no increase in
11:58prices in march and i just checked this morning for april we don't have consumer data but we have some
12:04um raw material prices some commodity price data and those have leveled off in march and april we're
12:13not seeing any significant move up or down what all of this tells me is trump at the moment is in a much
12:20more powerful position than he was uh we've got some data out of uh china shows that that economy has
12:28really been hit hard because of trump's tariffs which were significant now some of that's going to
12:35come back and hit us but at least in april we see the effects on uh china we see the negative effects
12:42on canada their their manufacturing sector just collapsed uh big sharp drop in april and the us our
12:51manufacturing sector is weak but since our services are such a big part of the economy and since they're
12:57growing at least in the labor market at two percent uh that has offset an awful lot of the weakness
13:04bottom line gary this puts trump in a much stronger position because all these countries are seeing real
13:11problems with respect to the tariffs and those problems at least so far have not reverberated
13:18to the u.s to the point that we're really suffering so the uh uh isaac uh what's what are you hearing
13:26about uh exports coming out of china and their ports i'm understanding that things are quiet yeah
13:32very very quiet that's what i was gonna you know getting to say to bob so yeah we haven't felt it
13:36just yet if anything the trucking industries you know it's it's only helped us you know in the short
13:41term with volumes coming in at an at a at a big rate but that's coming to a screeching halt we're
13:46expecting it to come to a screeching halt here in the next two to three four weeks um again you know i
13:52i spoke about this two weeks ago some of the headlines that we're reading you know are carnage
13:57on the way you know the bookings are down 64 percent um from from china to the united states global
14:05bookings across the planet in general are down 62 percent right now so it's it's definitely something
14:11that we're concerned about uh in a very very very big way right now okay uh so the normal go run
14:18around question uh but like don what anything on the horizon in terms of weather for the next week
14:25that's interesting uh yeah we'll need to watch the center part of the country for the return of severe
14:30weather uh this will be especially true for most of next week and some more flooding concerns in parts
14:37of the south like oklahoma and texas how about michigan yeah icy wet cool weather there's an upper low
14:44that's going to come up out of kentucky and come right into michigan so i'm going back to
14:49it's going to be a muddy buddy take me with you very very muddy track for the kentucky derby this
14:55weekend and uh cool wet weather for the great lakes next week so this is going to be a wet track a slow
15:02track for the kentucky derby yeah whatever horse can run good in the mud is where i put my money
15:06okay uh so our final question isaac going forward are you optimistic about the country and where we're
15:15going listen i'm still optimistic i believe in the president um i think he's going to succeed and then
15:20you know i was thinking about this the last couple days anytime there's disruption in our industry
15:23anytime there's any type of stoppage of freight there's definitely a temporary short-term pain but
15:29when that freight comes back and it comes back roaring prices skyrocket so um we definitely see
15:38some inflation in the uh in the long term here a little bit uh but again i think the trucking
15:43industry overall is going to benefit in a very big way don are you optimistic or pessimistic no yes no i
15:51remain i remain optimistic and you know to some of bob's points we just kind of have to wait and see
15:56how things play out and i think things are playing out in our favor bob janetsky prior to you saying
16:03but i don't be your my asking you are you optimistic or pessimistic uh since trump got the blame for
16:10inflation during his first week in office do you think he'll get the credit for what happened since
16:15then no he won't now well it depends on who you talk to his supporters will give him credit no one else
16:21well i'm very optimistic gary uh especially with how well the economy has held up amid some very very
16:29dramatic and potentially disruptive changes so uh this this is really so far good news
16:35okay i am equally optimistic with that i wish everyone have a nice weekend
16:42talk to you next week be well and god bless america
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