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00:11welcome to the myers report fast 15 it is friday april 24th 2026 amid the fog of war the situation
00:21with iran is unclear the only thing we do know is that the irg generals appear to be running the
00:28show meanwhile the s p keeps on hitting record highs and despite uh the high price of oil and
00:36higher inflation pressures key interest rates are remarkably stable and in some of them particularly
00:43in the home mortgage rates fell slightly this week our take is that the markets believe that
00:48the trump train is going to roll over iran if it already hasn't done it okay with us are our
00:56certified as our certified weather maven don day it don uh do i do i am i going to need
01:04a sweater
01:04this week or are we heading for a break oh it's april the cruelest month of the year so you
01:10need
01:11you need you have your shorts and your hawaiian shirts handy as well as your sweater because
01:15you're going to see pretty much a lot of up and down over the next week or two okay isaac
01:21our
01:21transportation and logistics guru just got back from washington dc visiting the lawmakers by the
01:28way isaac is it more what was more painful the high fuel prices or meeting in the capital you know
01:34i'll tell you one thing i i enjoy the capital so i i've still doubled down the high fuel prices
01:38we're
01:38almost at six dollars a gallon here in chicago fuel fuel fuel for sure okay and of course robert
01:45janetsky our chief economist who explains why things are happening even when they are somewhat
01:50inscrutable okay don uh we hear there are some droughts in georgia and florida how bad is it
01:57it's pretty dry down there and it's getting worse uh we've had a lot of wildfire activity in florida
02:03and parts of the southeastern united states even though they had a cold winter and several episodes of
02:09snow you know one thing we did not have last year in the southeast united states was a landfalling
02:14tropical storm or hurricane so they're in a moisture deficit and the spring so far down there has been
02:20dry and warm uh now the the long term is good in terms of rain chances coming back in but
02:27the
02:27carolinas georgia alabama and florida have some pretty bad drought conditions right now well i don't
02:35understand something i thought that climate change was supposed to be bringing on severe weather
02:40where is it oh i could find severe weather for you since the dawn of since the dawn of time
02:47there's
02:47been droughts floods hurricanes and tornadoes it just depends on who to pick on and right now the
02:53drought is picking on the southeastern united states but we've got parts of the the midwest and parts of
02:59the corn belt that are awash in moisture so it's not covering everybody so it's looking good for a
03:06growing season is what you're saying certainly certainly is okay and there are some fires i'm
03:10hearing down in georgia yeah and florida how i take it they're not like california forest they're not
03:17like no but but they can be extremely stubborn uh to to completely get put out a lot of it
03:22has to do
03:23with the undergrowth and what's uh underneath the trees and the type of pine trees that are burning
03:28down there they just uh burn hot and they'll burn long so they do need a change in the weather
03:33okay and how's it looking going forward for the next couple weeks up and down we're going to have
03:38a typical april weather which means still some snow in the northern areas in the rockies
03:43uh big warm-up in parts of the southwest and south central united states and just a lot of
03:49variation in the weather uh we're going to have severe weather too at times um especially in the
03:54south central united states isaac can you give us a quick recap of the issues and the progress if any
04:01that you found in uh the capital yeah good morning front and center definitely the conversation was
04:07the delilah law legislation that's focused on making our roads safer by removing the illegals the illegal
04:13truckers who are not properly trained and by eliminating electronic logbook device providers
04:20that create loopholes that allow drivers to exceed their hours of service their driving time
04:25are we going to get rid of those are those electronic logbooks actually going to go away
04:30oh they already are there's a um earlier this year beginning of the year there was 1000 close to 1050
04:37elb providers in the nation um there's been a 30 percent reduction eob meaning electronic logbook
04:44electronic logbook devices correct so they're already hitting them very very hard very aggressively
04:49and the industry's applauding it 60 minutes just recently aired a special on there's not not just two
04:54weeks ago bringing national attention to the issue and i've been saying this the epicenter is right
05:01here in chicago the entire special was focused around a carrier called super ego that's been
05:08named in several class acting lawsuits right here in our backyard chicago now there's many critics of
05:14this legislation arguing that it's going to reduce driver pool driver capacity and drive up
05:19transportation costs our message is crystal clear as a nation our message should be crystal clear as a nation
05:25we can't compromise safety there's no shortage of qualified safe drivers in this country
05:31they'll try to make you believe there are but there is no shortage of qualified safe drivers in this
05:36country many of them throughout this four-year-long freight recession have been pushed out
05:41primarily by bad actors operating outside the rules and only bringing more pain throughout these
05:47four years the legislation is about restoring fairness accountability and above all else safety across
05:53our country is there anything else that you covered truck parking was a big one it remains a large issue
06:00throughout the industry on average there's only one available truck a parking stall for every 11 trucks
06:07very relevant um as a result drivers spend 53 minutes per day searching for a parking spot
06:15in many cases we see this in the company weekly in many cases drivers are forced to enter that end
06:21their day two to three hours early just to secure a spot rather than running the risk of not finding
06:28one later now this inefficiency costs both the driver as well as our broader economy real money
06:34um so you know we talk about the lila law and and the risk of capacity there's a lot of
06:41other
06:41levers we can do here to maximize safe capacity okay thank you isaac dr bob janetsky stocks yes
06:54what what's up
06:58stocks keep on hitting new highs and interest rates are stable why is this happening when oil prices moved up
07:06and the iranian confusion continues well investors can be a little fickle from time to time focusing on
07:14one thing or another when the markets were going down they were focusing on the iran war and all the
07:20uncertainties of how that was going to get resolved but now all of a sudden the earnings reports are coming
07:26in and the earnings were already supposed to be pretty good uh and they're coming in much better
07:31than people had anticipated by one measure it was 88 of the companies reporting had reported earnings
07:40in excess of what the analysts were expecting so the earnings have been spectacular uh they were
07:46spectacular in the fourth quarter uh they were running at that point about 40 above their longer term
07:53trend line uh it looks like they're going to be running maybe 45 50 above in the first quarter
08:01so uh we have spectacular earnings and that is one reason why the stock market continues to go up
08:08and people continue to be optimistic
08:11wonderful how's uh how are the economic indicators looking and how did jobs do and retail sales
08:17well we had a good jobs report from a company called adp they actually measure all of their own
08:25uh processing uh processing of payrolls and they've got a large number it's a huge number of people that
08:32they process across the country and their numbers have been showing something like job growth in the
08:38vicinity of 50 000 a month somewhere in that vicinity 50 000 a month or a week
08:4550 000 a month now okay they just came out with the last most weekly four weeks which is the
08:53four weeks
08:54ending april 4th and the number ended up being like 56 000 a week uh 56 000 a week
09:03times four you're a 200 000 jobs now the one big problem with their numbers is they include both
09:11full and part-time workers and so a lot of the job discrepancy between their numbers and some of
09:18the numbers from the government is that there may be a lot of part-time jobs and we don't know
09:24that
09:24from the numbers but putting that aside the main thing is we've got a big bunch of numbers that have
09:32increased for march according to the adp numbers and they're pretty good numbers sometimes they're better
09:38than the government numbers so we might be seeing a very nice surprise when the government numbers come
09:44out um in about a week or two where do you see the economy heading over the next few months
09:50the next few months i think are going to be rough uh we already have some pretty good data pretty
09:56comprehensive data on the first quarter and unfortunately it looks like the economy only grew
10:02in real terms at a rate of about one percent now i know i i've been saying uh we should
10:09see three
10:10percent growth or more and i think we would have seen that except for the fact that we've run into
10:15these bumps in the road one of the latest bumps is the iran war and so we've uh bob when
10:22you say
10:22one percent one percent annualized to one percent for the month or quarter one percent annualized from
10:27the fourth quarter into the first quarter okay and that's what the numbers are showing i'm and we
10:34would have loved to have seen higher growth but the we've got some pretty good numbers right through
10:39february this week we'll get them through march and uh those numbers are all showing that spending
10:44has slowed down to about a five percent rate or maybe even a four percent rate and real growth and
10:51with the high inflation that leaves only about one percent for real growth so there has been a slowdown
10:57what about the second quarter where we're at now or the next couple of months which is what you just
11:01asked about um because of the high oil prices because inflation is going to stick up in the three to
11:09four
11:09percent range uh there's just not that much room for real growth in the next couple of months
11:14but again it's related to a one-time factor mainly the war as soon as that is resolved and hopefully
11:21it's going to be resolved pretty soon uh we're going to see the economy take off and we'll see
11:26the three percent growth that we should have gotten had it not been for this bump in the road
11:33uh i got it that looks that sounds promising okay our question for the day our question for the week
11:39is what will be the big news over the next week isaac what do you think it'll be i'll tell
11:45you one
11:46thing it'll be fuel related that's what we're betting on whether it's going to go up or down gary
11:49it will be fuel related don what do you think the next big issue for the week is going to
11:55be
11:56oh i think it's still going to be the iran war uh and and where we're going with it and
12:00how long is
12:01this going to drag out and bob what do you think if we're looking only one week out i think
12:07it's going
12:08to be the iran war uh that war is going to come to an end pretty quickly uh president has
12:14already said
12:15that hey they they offered to open the straight he said there's a problem with opening the straight
12:20right now it's free shipping he says they're going to make half a billion dollars a day in profits and
12:27there's no way i'm going to see them get half a billion dollars a day in profits he says so
12:32we're
12:32going to have to make sure we negotiate a good settlement here uh it's going to take longer after
12:38another two weeks people estimate that they're going to run out of storage capacity and iran will have
12:44to start shutting down their oil production once they shut it down it's not easy to bring it back
12:50up and in some cases can't be brought back up at all so iran is under a great deal of
12:56pressure of
12:56losing revenue not just for the next couple of weeks but for a long time to come so i think
13:02within the
13:02next two to three weeks we are going to see some sort of a settlement very interesting i sort of
13:10agree
13:10with you guys i think that iran is certainly going to be in the news but i think an outlier
13:15is going
13:16to be the elections particularly those that were held in virginia this past week which the which a
13:22local judge overturned this issue is going to go to the virginia supreme court which has which is three
13:31to two conservative and they i'm expecting that they will maintain the overturning of that election
13:39because of the irregularities of how it was structured and then to the u.s supreme court so
13:44there'll be more to come with that i want to say thank you everybody be well stay safe have a
13:50good
13:50weekend and god bless america
13:58you
13:59you
14:03you
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