Latest / The Bill Handel Show / Oh SNAP! | Dodgers Back-to-Back Champions

Transcript

Oh SNAP! | Dodgers Back-to-Back Champions · The Bill Handel Show

0:00
Speaker 1: You're listening to Bill Handle on demand from kf I
0:04
Speaker 1: AM six forty. Let's go, we go it please Tale
0:10
Speaker 1: you can do it out guy, KI am six forty
0:14
Speaker 1: Bill Handle.
0:14
Speaker 2: It is a Monday morning, November third lot going on today.
0:19
Speaker 1: To say the least, what do we do have going on? Well?
0:23
Speaker 2: Saturday is thanksgrilling Neil and I are broadcasting his show
0:28
Speaker 2: from the Wild Fork Food Store and Lagoon and Miguel,
0:31
Speaker 2: So let's check that out and don't forget on a Friday,
0:35
Speaker 2: it's ask Handle anything and boy, there is some fun
0:38
Speaker 2: questions there. So if you want to ask Handle, let's
0:41
Speaker 2: be anything that's anything, go to the iHeartRadio app during
0:45
Speaker 2: the show and click on the Bill Handle show up
0:48
Speaker 2: right hand corner microphone and record your question, which I.
0:52
Speaker 1: Theoretically answer every Friday. I actually I do.
0:56
Speaker 2: Hey, today is a big day because today the Trump
0:59
Speaker 2: Administry is facing that deadline to report to the federal
1:04
Speaker 2: judges snap food stamp order. It's at noon today and
1:10
Speaker 2: it's requiring the administration to update the federal judge who
1:14
Speaker 2: last week ordered the Agriculture Department to disperse the SNAP
1:19
Speaker 2: funds Supplemental Nutrition Assistance Program funds food stamps. Tens of
1:25
Speaker 2: millions of Americans are without their November SNAP benefits. Over
1:29
Speaker 2: forty million Americans need governmental help to eat. They are
1:34
Speaker 2: food insecure. The shame of it is this country, one
1:37
Speaker 2: of the wealthiest countries on the planet, is not feeding
1:41
Speaker 2: its own people. We have a system where people just
1:44
Speaker 2: don't eat, which I find insane. And what's happening. A
1:48
Speaker 2: story that came out of NBC News Texas, California stadium
1:52
Speaker 2: parking lots were jammed mass distribution sites where people were
1:56
Speaker 2: picking up the food bank stores. Food banks are out.
2:02
Speaker 2: If you look at the video, it's insane. So SNAP
2:07
Speaker 2: expected to run dry.
2:08
Speaker 1: It has.
2:10
Speaker 2: A lot of state governments are trying to fill in,
2:14
Speaker 2: but the president said any state that tries to fill
2:19
Speaker 2: in taking the place of SNAP, he will cut their money.
2:25
Speaker 1: I don't get that. One. Explain that to me.
2:27
Speaker 2: I mean, for those of you that are pro Donald Trump,
2:31
Speaker 2: and I understand there's lots of you, and you have
2:33
Speaker 2: good reasons to be that way. I mean, I understand
2:36
Speaker 2: your philosophy versus the other side, But explain the philosophy
2:40
Speaker 2: when states come in and spend their own money to
2:42
Speaker 2: feed people, the government says, then we're not going to
2:46
Speaker 2: give you money. We're not going to either reimburse which
2:50
Speaker 2: there are governmental programs, or we're going to make sure
2:52
Speaker 2: that it's miserable for you. And what it is, as
2:54
Speaker 2: Neil pointed out correctly, I think and handle on the news,
2:59
Speaker 2: is that these people are.
3:01
Speaker 1: Pawns of the government. And the argument is on both sides.
3:07
Speaker 2: You can say, of Democrats, it's more important for you
3:10
Speaker 2: to deal with the Obamacare, the extension of Obamacare versus
3:17
Speaker 2: feeding people.
3:18
Speaker 1: How dare you do that?
3:19
Speaker 2: Republicans are saying exactly the opposite. I mean, it is
3:23
Speaker 2: a political football that's going back and forth, ping pong ball. Actually,
3:29
Speaker 2: and so the judge of lawsuits were filed twenty five
3:33
Speaker 2: states filed lawsuits, I might add, saying that these funds
3:37
Speaker 2: have to be dispersed, and they have to be dispersed.
3:40
Speaker 1: Now. Now the government says, we don't have that money.
3:44
Speaker 2: It's eight billion dollars a year a month than all
3:47
Speaker 2: we have is five billion. And so the judge says,
3:49
Speaker 2: then release that five billion dollars. At least that's something.
3:55
Speaker 2: And interestingly enough, the Trump administration, this is what Donald
3:59
Speaker 2: Trump said, I think it was yesterday or Saturday. We
4:01
Speaker 2: have to wait until the courts figure this out before
4:04
Speaker 2: we release the money. Well, the problem is there's money
4:08
Speaker 2: in that account for emergencies for exactly this sort of thing,
4:14
Speaker 2: except the Trump administration is arguing legally that money is
4:20
Speaker 2: supposed to be reserved only for situations like natural disasters.
4:26
Speaker 2: Running out of STAP money is not a natural disaster.
4:30
Speaker 1: You could argue that.
4:33
Speaker 2: Now, on the other hand, where the Armed services got
4:37
Speaker 2: their paycheck where reserve money didn't exist, the government argued
4:44
Speaker 2: that that was okay. And here is the bottom line.
4:47
Speaker 2: It is more important to pay the military, which by
4:52
Speaker 2: the way, I think is hugely important. Don't misunderstand. Not
4:55
Speaker 2: to pay the military is insane as far as I'm concerned.
4:59
Speaker 2: But they're okay with people not having enough money to eat,
5:02
Speaker 2: which actually floors me.
5:04
Speaker 1: I mean, I just don't get it. I don't get
5:06
Speaker 1: any of this.
5:07
Speaker 2: I am just stunned for the government to say, well,
5:10
Speaker 2: we don't know if legally we're allowed to do this.
5:12
Speaker 1: Are you kidding?
5:13
Speaker 2: You know, it's interesting that the president thinks he has
5:16
Speaker 2: ultimate insane power on anything else. Wakes up in the morning,
5:20
Speaker 2: I'm going to tariff, I'm going to change the tariff.
5:22
Speaker 1: I'm going to do all this over here, and you go,
5:24
Speaker 1: but but Congress doesn't let you. It's not the law.
5:26
Speaker 1: I don't care what the law says. I am going
5:28
Speaker 1: to do this, except when it comes to food stamps.
5:32
Speaker 2: Now I have to figure out the judges and the
5:34
Speaker 2: courts have to tell me whether I have the ability
5:37
Speaker 2: to do this. And all you do is point to
5:40
Speaker 2: that provision emergency funding. Well, we don't know what emergency
5:45
Speaker 2: really means. You know, it's natural disaster, it's not Is
5:49
Speaker 2: it an earthquake? Is that a hurricane? You know, we
5:53
Speaker 2: really don't know. Emergency. Well, i'll tell you right now.
5:57
Speaker 2: Forty million people not getting enough to eat, in my opinion,
6:00
Speaker 2: is true emergency. Having people having kids not have breakfast
6:06
Speaker 2: this morning or tomorrow morning, that's an emergency. And even
6:11
Speaker 2: with states scrambling to try to get money into the
6:16
Speaker 2: system so the kids can eat, President comes down and says,
6:20
Speaker 2: if the states get involved.
6:21
Speaker 1: In doing this, I'm going to nail the states. I
6:26
Speaker 1: mean that one. I have a very hard time with.
6:29
Speaker 1: I really, do you know.
6:31
Speaker 2: I get the President arguing in terms of ice and
6:36
Speaker 2: the power he has to arrest or not arrest people,
6:38
Speaker 2: and to go forward. I get the argument there, I
6:41
Speaker 2: truly do. I don't get this argument. I do not
6:46
Speaker 2: get this argument with holding money so people don't have
6:50
Speaker 2: enough to eat.
6:50
Speaker 1: Explain that one to me, please.
6:53
Speaker 2: And the White House was asked for comment and it
6:56
Speaker 2: deferred to the Office of Management and Budget, which gave
7:00
Speaker 2: no comment.
7:03
Speaker 1: Hopefully this thing ends very very quickly.
7:06
Speaker 2: Unfortunately, right now the Republicans the Democrats are at an impasse,
7:13
Speaker 2: all right, and we are waiting for Petros to join
7:16
Speaker 2: us because Petros, of course one of the sports casters, extraordinary,
7:21
Speaker 2: probably one of the well I love Petros and he's
7:24
Speaker 2: on a five seven LA sports. Is he there yet
7:27
Speaker 2: as we're working, or I'm going to have to pretend
7:29
Speaker 2: I know what I'm talking about?
7:30
Speaker 3: Is there?
7:31
Speaker 1: Oh? There you are, Petros? Good morning, God Bell, how
7:34
Speaker 1: are you. I'm good, Thanks for joining us. I know
7:37
Speaker 1: you're kind of busy this morning.
7:39
Speaker 2: I have one question I want to ask you that
7:41
Speaker 2: you know I'm not the maven of sports. You and I, well,
7:43
Speaker 2: you have made a lot of fun with me over
7:45
Speaker 2: the years about how I know so little about it.
7:47
Speaker 2: But correct me if I'm wrong on this one. First
7:50
Speaker 2: of all, the game Saturday's game was the first full
7:56
Speaker 2: baseball game that I've watched on TV in probably fifty years.
8:00
Speaker 2: I am not a baseball you know. That's a long time.
8:02
Speaker 2: I've seen bits and pieces, but this was the whole game.
8:05
Speaker 2: Correct me if I'm wrong on this one. The Blue
8:08
Speaker 2: Jays outplayed the Dodgers throughout the entire series. They were
8:13
Speaker 2: just a better team. And yet of course they lost.
8:17
Speaker 2: And I'm saying because lightning in a bottle in a
8:19
Speaker 2: few instances, would you respond to that?
8:22
Speaker 3: Well, that was some narrative from some of the bitter
8:25
Speaker 3: Canadian types from the Toronto side of it after the game,
8:32
Speaker 3: because the Dodgers just did hit well throughout, I mean
8:36
Speaker 3: ever since the second half of that extra innings game
8:40
Speaker 3: all the way through. They just did not have the
8:43
Speaker 3: offense that they normally have. And you could say that
8:46
Speaker 3: the Blue Jays were stingy. You can say that the
8:49
Speaker 3: Blue Jays were tough. You could say that the Blue
8:52
Speaker 3: Jays were very stubborn as far as letting the Dodgers
8:58
Speaker 3: have any kind of pausetive feelings or big innings. But
9:03
Speaker 3: I don't know if you can say that the better
9:04
Speaker 3: team because they have it's a seven game series. You
9:08
Speaker 3: have to win four games, as you know, to win
9:11
Speaker 3: the championship. Of course, Dodgers won four. I mean they
9:15
Speaker 3: won four games.
9:17
Speaker 2: But let me ask you this, if you have how
9:19
Speaker 2: much much would you say, is well go back to
9:22
Speaker 2: lightning in a bottle where if you're looking at it
9:24
Speaker 2: big picture.
9:25
Speaker 1: Maybe I'm wrong on this because Colono brought this up too.
9:28
Speaker 2: Hey, you win, you win, You can call it whatever
9:31
Speaker 2: you want, and you win, and that's the better team.
9:33
Speaker 2: But okay, yeah, that can be an argument, and certain
9:37
Speaker 2: less with the Jay say so in terms of magic moments,
9:40
Speaker 2: I've heard a game for the Ages series of the Ages.
9:44
Speaker 2: You want to comment on that, and do you buy that?
9:48
Speaker 3: Yeah? I think that As we've kind of watched this
9:52
Speaker 3: Dodger team over the years, our perspective has kind of
9:55
Speaker 3: been skewed because you see things, especially in the last
9:59
Speaker 3: couple of years, that you just don't see in baseball
10:02
Speaker 3: that no one's ever seen a guy like shohey Otani
10:06
Speaker 3: do what he's doing. And it's really hard to compare
10:10
Speaker 3: it to anything because it's not something that's really ever
10:12
Speaker 3: happened before. So that alone, that part of it alone
10:17
Speaker 3: is pretty astounding. And then the factor in what Yoshinobu
10:21
Speaker 3: Yamamoto did, which pitchers don't really do anymore, go on
10:25
Speaker 3: no rest and get out there and look ice cold
10:28
Speaker 3: even though they're in the toughest situation that you can
10:31
Speaker 3: imagine in sports. That's the kind of stuff that made
10:35
Speaker 3: it really special. And then an eighteen inning game, like
10:40
Speaker 3: you said, an extra innings game. I mean, I understand
10:44
Speaker 3: your perspective about the better team, but I work in
10:48
Speaker 3: football and deal with coaches after losses all the time,
10:51
Speaker 3: and everybody always says, well, if only this happened, if
10:54
Speaker 3: only this happened, But what about this this was? I mean,
10:58
Speaker 3: the margins are really, really, really said when you're trying
11:02
Speaker 3: for a championship, and we saw that very much throughout
11:05
Speaker 3: the series.
11:06
Speaker 2: When are they ever going to return to a player,
11:10
Speaker 2: a pitcher doing all nine innings. It's you know, when
11:14
Speaker 2: I started watching baseball. To give you an idea, the
11:17
Speaker 2: last time I actually watched the game, watched the game
11:20
Speaker 2: and went to a game and actually knew who the
11:22
Speaker 2: players were. It was Don Drysdale, Sandy Cofax. With the pitchers,
11:25
Speaker 2: Jim Gillian was first, Mary Wills was shortstop. Seriously, that's
11:30
Speaker 2: when I knew all the Dodgers. So it's been a
11:32
Speaker 2: couple of years, but Dodgers, but pitchers went went nine
11:36
Speaker 2: innings unless they were thrown out and just and just imploding.
11:40
Speaker 1: Why do they do that anymore?
11:42
Speaker 3: Well, this guy Yamamoto had a pension for doing it
11:46
Speaker 3: in Japan, and then all of a sudden he was
11:48
Speaker 3: able to do it this year. But it doesn't happen
11:52
Speaker 3: anymore because pitchers throw a lot harder all the time
11:58
Speaker 3: than they used to. They are always searching for something
12:03
Speaker 3: they call spin right now or velocity, and that leads
12:09
Speaker 3: to more tired arms. It leads to a lot more surgeries,
12:13
Speaker 3: Tommy John surgery. A lot of these guys have Tommy
12:16
Speaker 3: John surgery before their career even gets started, when they're young.
12:21
Speaker 3: And I think it's the pressure that we put on
12:24
Speaker 3: the arms of the pitcher playing year round that they
12:27
Speaker 3: play year round baseball, you know, in youth baseball now,
12:31
Speaker 3: and it tires them out, and everything's just become a
12:34
Speaker 3: lot more specialized. And the real answer, probably deep down,
12:40
Speaker 3: is that everybody's a lot softer than they used to be.
12:44
Speaker 2: Yeah, okay, I'll buy that. And you know, short of
12:47
Speaker 2: either a no hitter or a perfect game. You're just
12:49
Speaker 2: not going to see a pitcher go all the way.
12:51
Speaker 2: Is that correct?
12:53
Speaker 3: You just well you see it, but it just happens
12:55
Speaker 3: a lot less, probably seventy five percent less the time
13:00
Speaker 3: that's used to Although maybe with the way that Y'a
13:04
Speaker 3: Mamoto performed in this World Series, maybe you'll see a
13:08
Speaker 3: trend go back to that. I mean, we've had baseball
13:11
Speaker 3: for over one hundred years, and trends kind of change
13:16
Speaker 3: and things kind of move, and we end up going
13:19
Speaker 3: back to a lot of stuff. It happens in football too.
13:22
Speaker 1: All right.
13:23
Speaker 2: I know you're going to be really business warning covering
13:26
Speaker 2: what is happening. I just want to quickly remind you
13:28
Speaker 2: don't forget your can of gasoline and your matches, Okay,
13:30
Speaker 2: enjoy yourself.
13:32
Speaker 3: All right, Well I have that, and yeah I have that,
13:35
Speaker 3: and I also have my hairspray and my liners. So
13:37
Speaker 3: we're good.
13:38
Speaker 1: Yeah, we're all good. Petros. Thanks for taking the time.
13:40
Speaker 3: Take take care anytime. Bill. I'm here for you whatever
13:44
Speaker 3: you want.
13:45
Speaker 1: I know, I love it, love having you on. I
13:47
Speaker 1: don't know why we don't do enough.
13:48
Speaker 3: Of that that Bill I've to handle on the news.
13:52
Speaker 3: I'll come back.
13:53
Speaker 1: I love it. I love it when you do.
13:55
Speaker 2: All right, so Petro so well, they'll be all day
13:58
Speaker 2: coverage today on AM five to seven LAS Sports, and
14:01
Speaker 2: obviously LA is celebrating in a very big, big way.
14:05
Speaker 2: I'm not because you know, eh, but this is a
14:12
Speaker 2: big deal. Okay, I wanna yeah, don't a big.
14:15
Speaker 1: Deal, bill it is, but you know it's a big deal.
14:18
Speaker 1: When the Lakers win, it's a big deal. I'm just
14:21
Speaker 1: not in. I'm just not into that stuff. To be fair,
14:23
Speaker 1: the Lakers haven't won much in a while, so no, when.
14:25
Speaker 2: The Lakers did win, that was another one when they
14:27
Speaker 2: were the dynasty that absolutely dominated the NBA or the
14:33
Speaker 2: LFB or the s whatever. Okay, Now, guess who's coming
14:38
Speaker 2: to town for the Prop fifty vote, and that is
14:42
Speaker 2: going to be the federal overseers.
14:46
Speaker 1: Federal election monitors are coming.
14:48
Speaker 2: The Department of Justice deploying election monitors to five California
14:53
Speaker 2: counties on election day.
14:55
Speaker 1: This was announced on.
14:56
Speaker 2: Friday, and why it's to quote insure transparency, ballot security,
15:02
Speaker 2: and compliance with federal law. Now, while that seems outrageous,
15:07
Speaker 2: doesn't it. Oh my god, look what the feds are doing.
15:09
Speaker 2: They're going to oversee our election by the way, it
15:12
Speaker 2: happens a whole lot, believe me. And this one is
15:17
Speaker 2: because the Republicans, actually the California Republican Party actually requested
15:23
Speaker 2: election monitors and the Feds are going, yeah, that'll work.
15:28
Speaker 2: We're going to come in and oversee the Prop fifty elections. Now,
15:34
Speaker 2: keep in mind that this is not lightning in a bottle.
15:37
Speaker 2: This is not an outlier. It happens all the time
15:41
Speaker 2: when federal judges order it, sometimes state judges, when requests
15:46
Speaker 2: are made and Department of Justice goes forward.
15:49
Speaker 1: It happens.
15:50
Speaker 2: But now it's simply the political the political backlash. I'll
15:55
Speaker 2: tell you what I have not heard yet, and I
15:57
Speaker 2: don't know whether we're going to hear it. Maybe it's
15:59
Speaker 2: good news. I have not heard from any Republican for
16:04
Speaker 2: source at this point saying if Prop fifty wins, it's
16:09
Speaker 2: a rigged election. I have not heard that. I guess
16:14
Speaker 2: that's good news, isn't it that we're staying away from
16:17
Speaker 2: that point? Now, what are they going to do?
16:20
Speaker 1: Well?
16:21
Speaker 2: What does observing mean? Does that mean overseeing the counting?
16:25
Speaker 2: Does that mean only day of the election. Again, we
16:29
Speaker 2: don't know at this point, and there have been just
16:33
Speaker 2: it's been a long track record of civil rights violations
16:37
Speaker 2: that the Department of Justice has been monitoring.
16:39
Speaker 1: Now here, it's not a civil rights violation.
16:41
Speaker 2: I think anybody's arguing that it's just the numbers, And
16:44
Speaker 2: why is it such a big deal that the FEDS
16:46
Speaker 2: want to oversee and make sure that this election is
16:50
Speaker 2: I guess legitimate. Is because the whole concept of Prop.
16:55
Speaker 2: Fifty is in response to what Texas did in in
17:00
Speaker 2: terms of redistricting at the request of President Trump. Texas
17:06
Speaker 2: was not going to redistrict until President Trump said to Texas, redistrict,
17:11
Speaker 2: take this legislature, state legislature, which is Republican, changed.
17:17
Speaker 1: The rules or not.
17:18
Speaker 2: In the case of Texas, it wasn't a rule change,
17:20
Speaker 2: it was changed your procedure, your policy to redistrict to
17:24
Speaker 2: create more Republican seats. And California is fighting that directly
17:31
Speaker 2: with Prop fifty, saying that it's rules now, that it's
17:35
Speaker 2: procedure that's in law has to be changed to enable
17:40
Speaker 2: California to do exactly what Texas did. It is become
17:43
Speaker 2: a political football. Now has it become a political football
17:47
Speaker 2: in terms of a fair election? I have not heard that.
17:52
Speaker 2: I have not heard that I think to the credit
17:53
Speaker 2: of everybody. I think it's just a legitimate political fight
17:58
Speaker 2: where the Republicans are arguing, we keep our redistricting plan
18:03
Speaker 2: exactly the same it is in law, and the Democrats
18:07
Speaker 2: are saying, wait a minute, we have to fight fire
18:09
Speaker 2: with fire if the Republicans are doing that in Texas
18:13
Speaker 2: and other Southern states, and we've got to do the
18:14
Speaker 2: same thing.
18:15
Speaker 1: Otherwise we've lost. Otherwise, it's guaranteed.
18:20
Speaker 2: That there will virtually always be a Republican majority because
18:25
Speaker 2: the way the restricting redistriction works is so horrific. The
18:30
Speaker 2: California model makes all the sense in the world. California
18:33
Speaker 2: has an independent commission because of the the history of jerrymandering.
18:40
Speaker 2: You ever seen jerry mannering is you look at a
18:43
Speaker 2: map of a district and it makes no sense whatsoever.
18:47
Speaker 2: It goes in and out, and the little peninsulas and
18:49
Speaker 2: a little seems like islands, and just I mean, it's horrible,
18:53
Speaker 2: and that has been going on forever. Well, we in
18:58
Speaker 2: Californias the proposition that says we're going to take that
19:01
Speaker 2: away from the legislature. We're going to give the redistricting
19:04
Speaker 2: based on the census. Every ten years. We're going to
19:08
Speaker 2: give this independent commission. They're going to be the ones
19:11
Speaker 2: to redistrict and they have to be looking at it objectively.
19:15
Speaker 2: There'll be Republicans on an equal number of Democrats, and
19:17
Speaker 2: there'll be other leaders and they'll I don't even know
19:20
Speaker 2: the makeup of that commission, but it's not political. Where
19:24
Speaker 2: in Texas and other states they don't have that independent
19:27
Speaker 2: commission so they can change the rules day and night.
19:30
Speaker 2: That's what Prop fifty is about, is taking away the
19:33
Speaker 2: independent commission, bringing back to the legislature which can fight
19:38
Speaker 2: fire with fire. And that's what's happening in Prop fifty
19:41
Speaker 2: and the Feds, I mean obviously the Republican, the Republican,
19:46
Speaker 2: the administration which is Republican. At President Trump specifically, who
19:49
Speaker 2: asked the redistricting to happen, he is not a big fan.
19:54
Speaker 1: Of what California is about to do.
19:56
Speaker 2: By the Prop fifty is going to pass, overwhelming him, Amlichino.
19:59
Speaker 2: Right now, it is going to happen. Okay, here is say,
20:04
Speaker 2: maybe a sign of the times. Car repossessions are at
20:07
Speaker 2: a fifteen year high. Does that mean there's an economic recession?
20:11
Speaker 2: Because usually you know it makes sense car repos are
20:15
Speaker 2: going up, up, up, which means the recession has to
20:17
Speaker 2: be on top of us, not.
20:18
Speaker 1: Necessarily, not necessarily.
20:21
Speaker 2: Two point two million cars already repossessed this year, expecting
20:24
Speaker 2: to be passed three million by the end of the year.
20:28
Speaker 2: And so here are the debates. Economists are debating like crazy,
20:33
Speaker 2: does this number of car repossessions and the fact that
20:37
Speaker 2: they are growing, does that signal deeper trouble for the economy.
20:44
Speaker 2: Alan Jen who's an economics professor at the University of
20:46
Speaker 2: San Diego, really looks into this and he says, some
20:48
Speaker 2: people think that we're headed for a recession. Other people
20:52
Speaker 2: think that will remain positive. But we're growing only very slowly.
20:57
Speaker 2: And he says, and this is his position, and rising
21:01
Speaker 2: repossessions do not necessarily mean a recession is coming. But
21:06
Speaker 2: all it does show is the economy is slowing. That
21:10
Speaker 2: means it's still growing, but it is slowing. And the
21:17
Speaker 2: slowing part of it mainly is jobs and wages. If
21:23
Speaker 2: people aren't getting raises or new jobs, they could be
21:26
Speaker 2: impacted in terms of their ability to make payments, particularly
21:30
Speaker 2: with the cost of other products increasing.
21:32
Speaker 1: YEA a little complicated here.
21:34
Speaker 2: There are a lot of moving pieces on this one,
21:38
Speaker 2: and of course the pandemic is involved like crazy, as
21:41
Speaker 2: it does with everything.
21:44
Speaker 1: So here's what's going on.
21:45
Speaker 2: Inflation is continuing to drive up price of housing and food.
21:48
Speaker 2: It was to a point a couple of years ago
21:50
Speaker 2: where wages were increasing at a greater rate than inflation.
21:55
Speaker 2: It is turned around again where inflation is beating wages
22:01
Speaker 2: and households because of the cost of food and housing
22:06
Speaker 2: are simply pushing car payments lower on the list of priority.
22:12
Speaker 1: You got to live someplace and you have to eat.
22:16
Speaker 2: Now getting a car, keeping a car, how do you
22:18
Speaker 2: go to work, Well, you can figure out another way
22:21
Speaker 2: of going to work. You can take the bus, you
22:23
Speaker 2: can carpool, you can do whatever. You can't carpool with
22:27
Speaker 2: food or housing. And so Jin traces us back to
22:32
Speaker 2: the pandemic where we had extra savings and we're spending
22:39
Speaker 2: big ticket items and not really paying attention to prices
22:43
Speaker 2: or interest rates. Because when you have a pile of
22:46
Speaker 2: money that you're saving, guess what, You're not going to
22:50
Speaker 2: really pay attention to the cost of things or the
22:54
Speaker 2: interest rates. So a lot of car buyers ended up underwater.
22:57
Speaker 2: I get this call all the time on handle on
22:58
Speaker 2: the law. My car has been totaled. But they tell
23:02
Speaker 2: me I owe more money than the car is worth.
23:05
Speaker 2: You bet you do. A lot of car buyers ended
23:09
Speaker 2: up underwater. So what happens is what do people do,
23:14
Speaker 2: and they don't care about their credit. They walk away
23:16
Speaker 2: from the car. Just walk away because at the end
23:19
Speaker 2: of all, at the end of it all, if the
23:21
Speaker 2: car is worth less than is worth less than the
23:25
Speaker 2: amount you owe, but you might as well walk away.
23:30
Speaker 1: And a lot of people are doing that.
23:31
Speaker 3: Today.
23:32
Speaker 2: The average price of a new car in the US
23:34
Speaker 2: is over fifty thousand dollars for the first time ever.
23:36
Speaker 2: I can you imagine the average price of a car
23:39
Speaker 2: is over fifty thousand dollars? I mean, you know, I
23:43
Speaker 2: just look at that and I go, that's almost impossible. Now,
23:48
Speaker 2: Jin said, it's too soon to tell whether the repos
23:51
Speaker 2: will continue to climb or to start to level off.
23:55
Speaker 2: But here is the main issue here, and here's the
24:00
Speaker 2: equation we have to look at very very careful. When
24:03
Speaker 2: Americans can't make payments on something as essential as a car,
24:10
Speaker 2: which is the way they get to work, this is
24:13
Speaker 2: a sure sign of financial stress. Is housing too expensive? Well,
24:18
Speaker 2: particularly here in southern California where housing is ridiculous, the
24:23
Speaker 2: cost of food that's going up and people are noticing that.
24:27
Speaker 2: And that's the and this may cost the Republicans during
24:31
Speaker 2: the mid terms because they won on the inflation issue,
24:37
Speaker 2: they won on the cost we are going to bring
24:40
Speaker 2: the cost down and have not been.
24:42
Speaker 1: Able to keep their word on that one through their fault.
24:47
Speaker 2: You know, there's so many issues that any one group
24:50
Speaker 2: that says I'm going to do this, I'm going to
24:51
Speaker 2: bring the cost down, that's not true. Or any one
24:55
Speaker 2: group that's blamed for cost going up, that's not true either.
24:59
Speaker 1: It's a lot more complicated than that.
25:01
Speaker 2: Now, during the past downturns, spikes in the car repos
25:06
Speaker 2: have coincided with job losses. And if you add AI
25:12
Speaker 2: and the unemployment figures that are hitting across the country
25:15
Speaker 2: and me talking more.
25:16
Speaker 1: A little bit more about AI later on.
25:18
Speaker 2: Kind of a fun topic with AI death threats that
25:22
Speaker 2: I enjoy death threats as a topic.
25:24
Speaker 1: It's just something that's fun.
25:26
Speaker 2: The point is is are we looking at an economy
25:29
Speaker 2: that is going down? I think we are, but the
25:33
Speaker 2: jury is out. KFI AM six forty.
25:37
Speaker 1: You've been listening to the Bill handle show.
25:39
Speaker 2: Catch my Show Monday through Friday six am to nine am,
25:42
Speaker 2: and anytime on demand on the iHeartRadio app