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What are voters biggest economic concerns? · The Financial Exchange Show

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Speaker 2: Second hour kicking off here on the Financial Exchange, Chuck,
1:16
Mike and Tucker with you. We've got markets not really
1:19
moving much in advance of tomorrow's election at this point.
1:23
The Dow is off one hundred and fifty six points,
1:26
SMP's up four, NASDA up thirty eight, so just kind
1:29
of chopping around, not too much movement in either direction.
1:32
Tenure Treasury reversing Friday's sell off, down six basis points
1:36
to four point three percent. We've got oil today up
1:39
another dollar forty one barrel to seventy dollars and ninety cents,
1:44
so regaining a little bit of ground in the seventies.
1:47
There TRIPAA national average four. Gas prices down another two
1:52
tenths of ascent to three ten and one tenths of ascent,
1:55
So continuing the downward move that we've seen for the
1:59
last few months year.
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Speaker 3: And we was after Iran came out with some I
2:04
don't know, escalating language over the weekend.
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Speaker 4: I believe it was to respond to Israels.
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Speaker 2: Yeah, they've been chatting for the last week and a half.
2:11
Or so, and we've got gold completely flat at the
2:15
moment at twenty seven, forty nine and twenty cent. So
2:18
just not a whole lot of excitement out there. Sure
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you can find individual equities that might be moving a
2:23
little bit. You know, you've got energy stocks ex On
2:26
Mobile up three percent, as I noted on you know,
2:28
the higher prices that you're seeing from in oil. You've
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got Berkshire Hathway off a couple percent. Some utilities that
2:37
are moving around because of some kind of interesting nuclear
2:41
news that we could touch on today, But overall, pretty
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quiet market at this point, Tuck, I know you've got
2:49
a couple things that you want.
2:49
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Speaker 2: Mike, We've got the third Boeing Machinist Union vote happening today.
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First two were defeated by vote percentages. I think the
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first one lost by like ninety in the ninety people
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vote against it. The LA one was sixty five. This one,
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which now includes a thirty eight percent raise over four years,
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some additional four to one k benefits a larger signing bonus.
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This one, I would say, reading the tea leaves on this,
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I would be shocked now if it doesn't pass. This
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is a quote from the union leadership at the International
4:19
Association of Machines and Aerospace Workers District seven to fifty one.
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Speaker 4: Quote.
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Speaker 2: Every negotiation and strike, there is a point where we
4:28
have extracted everything that we can in bargaining and by
4:30
withholding our labor. We are at that point now and
4:33
risk a regressive or lesser offer in the future. This
4:36
is in direct contrast to the last offer they got.
4:38
They basically they literally said, hey, here's the offer, whatever
4:42
you think.
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Speaker 6: Is fine with us.
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Speaker 3: Yeah, I mean, and the first offer, I don't even
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remember what they said during the first.
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Speaker 6: One, but it was we didn't even get anything on it.
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Speaker 4: Yeah.
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Speaker 3: Yeah, So this is a very distinct change in language
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from union leadership. Hasn't always worked. We've seen cases where
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union leadership has given strong advice to their workers who
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have gone in the other direction.
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Speaker 4: But it certainly would seem based on.
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Speaker 3: The trend here where you had one vote in the
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nineties against, one vote in the sixties against, and now
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a very big change in tone from the leadership saying, hey,
5:15
vote this went in because we're not sure to be
5:17
able to extract anything else out of the company. That's
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a pretty big shift, and I suspect you're right, Chuck,
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that this does end up passing.
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Speaker 2: So the good news is for all those who've been anxious,
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we are going to have some election results tomorrow. Yeah,
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it'll be for the Boeing election. Yeah, you know, we're
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not sure about how the presidential election and all the
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Senate and House races are going to go, but we're
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gonna know what's going on with Bowe and tomorrow because
5:41
they do count these votes up pretty quickly.
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Speaker 6: Yeah, so that's that's a plus.
5:46
Speaker 2: Do we want to touch a little bit on oil prices, Sure,
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they're up.
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Speaker 3: I guess the best thing you can say about them
5:56
is that they've been amazingly resilient to some of the
5:58
worst tensions in the Middle East we see in.
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Speaker 4: The last several decades.
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Speaker 1: It's been wild.
6:03
Speaker 3: I think a lot of that does have to do
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with the United States role in all of this, not
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the role they're in the Middle East, but that just
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the mere fact that the United States produces how much.
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Speaker 4: More oil than Saudi Arabia at this state.
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Speaker 3: So it's not that the Middle East does not matter
6:17
for oil prices, but realistically, the United States in terms
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of its total production, competes with OPEC plus in a
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way that hasn't been seen.
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Speaker 2: Ever and it is kind of broken Opek. Yeah, which
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is amazing to hear.
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Speaker 3: After I mean, how much did we talk about you know,
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Opek really sticking it to US shale producers and the
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twenty tens, and and well, no, that that has reversed
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pretty significantly. The power that that organization has, while still
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vastly significant and creating enormous amounts of wealth throughout the
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Middle East, is not flexing in the same way that
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they previously could.
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Speaker 2: OPEC's afraid to raise production, and normally that would be
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the move if OPEC said, Okay, we want to, you know,
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get rid of some US product auction that's out there,
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they'd say, fine, we can stomach lower prices better than
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you can pump more and raise prices in lower prices.
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I'm sorry, they're just they're not moving in that direction.
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Speaker 3: And whether it's because they fear the US can withstand that,
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whether it's because they fear political and just stability issues
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in the Middle East, I don't know. And quite frankly,
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I'm not sure it's relevant, because in either case, it
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seems to be a larger cyclical change that might last
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a little while based on where US production has come.
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Speaker 6: Just take a quick break here.
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Speaker 2: When we come back, we're gonna be joined by Grady
7:36
Trimble from Fox Business. We're talking about voters' biggest economic concerns.
7:41
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Speaker 2: As promised, we are now joined by Grady Trimble from
9:42
Fox Business here to talk a little bit about the
9:44
biggest economic concerns from voters. Grady, how are you today?
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Speaker 7: I'm great, Chuck. I am driving a Grand Rapids Michigan
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right now for the final Trump rally of the campaign cycle.
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Speaker 6: When what are you expected to be there?
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Speaker 7: About fifteen minutes?
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Speaker 2: There you go, fantastic, Grady. What have we been seeing
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in terms of the big concerns from voters on this economy?
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Is it all inflation? Or are there other ones that
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have been popping up as well.
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Speaker 7: I would say it's largely inflation driven. Whether we're talking
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about high prices at the grocery store, fuel prices maybe
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not right now, they're relatively low compared to a couple
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of years ago. And then also housing costs have come
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up a lot when I've been talking to voters at
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early voting places over the last couple of days. But yeah,
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everything seems to relate to higher prices because, as you know,
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when you look at the numbers, if you set aside
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the most recent jobs report last week, which was obviously abysmal,
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the economy is okay. GDP's growing, you know, the rates,
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interest rates have been cut, but people still remember how
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high prices are compared to four years ago. And so
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that's what I'm hearing a lot from voters. But what's
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interesting is when you ask them, Okay, so the economy
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is the top issue for you, whether it's one number
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one issue, number two issue, number three issue, it usually
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falls somewhere in the top three. When you ask them
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which candidate they support, I've heard mixed answers to that question.
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A lot of voters say, well, life was better when
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former President Trump was in office, and so that's why
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I'm voting for him. Other voters that I've talked to,
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wo lean more democratics say that they like a lot
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of Vice President Harris's policies. I talked to, for example,
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a first time home someone who's looking to buy a
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house for the first time and grow their family, and
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he was really drawn to Harris's twenty five k for
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a down payment for first time home buyers. So it's
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kind of mixed, and it's really hard to say which
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way this particular state is going to go gretty.
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Speaker 2: When listening to you talk there, it sounds like the
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main thing that most people still are upset about is
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it's not necessarily the rate of inflation right now, but
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more the price level. Hey, this stuff costs way more
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than four to five years ago. Is it a fair
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statement that there is no way for us to go
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back to the prices that we were seeing four years
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ago absent economic calamity?
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Speaker 7: I mean, I guess that's the case, you know, because
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the target inflation rate that the FED looks for, obviously,
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as you know, is two percent. We're not that far
12:26
off from two percent. But when you look at the
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you know, inflation compared to when the current administration took office,
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overall prices are up about twenty percent right now. I
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don't think the expectation is necessarily that prices will get
12:42
back down, will drop twenty percent, because who knows what
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the heck that could look like. But I think what
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voters that I'm talking to, especially the ones that lean Republican,
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are saying, is when former President Trump was in office,
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this whole conversation around inflation wasn't an issue. And I think,
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you know, the reason they think that's the case is
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because there was a push for especially here in Michigan,
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an important issue is you know, gas powered cars versus
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electric cars. And you know, the message from the Trump
13:15
from form President Trump himself and the Trump campaign of
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drill baby drill really resonates with them because when they
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hear that, they say, they hear, Okay, we're not, you know,
13:23
gonna have only electric vehicles or majority electric vehicles in
13:28
the next five ten years. And you know, when you
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look at the supply chain issues from twenty twenty one
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twenty twenty two, those were largely driven by fuel costs,
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and when fuel went up, the cost of everything else
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went up. So that message really resonates with both. Even
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though this isn't, you know, an oil and gas producing
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state like Pennsylvania, for example, it's still a message that
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resonates because not only do you have the auto industry
13:55
issue that's important in Michigan, but you also have just
13:58
the overall view that if you have more production of
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oil and gas, it generally leads to lower prices for
14:05
everything across the board.
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Speaker 2: Great, what about when we look at the labor market?
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Are you hearing any concerns about what's going on there
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simply because we have again, I know, there's been some
14:16
weird data the last few months where was looking a
14:18
little bit stronger and then this last month was kind
14:22
of a disaster though washed out by you know, a
14:24
couple of hurricanes. Is there any concern about the overall
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trend in the last year in the labor market from
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voters saying, Hey, it's become harder to find a job,
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and that's something that I'm really concerned about.
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Speaker 7: That's not something that I've really heard from the folks
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that I've talked to, I think, but so fascinating about
14:43
kind of the economic conversation, especially over the last year,
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because remember when when Trump announced that he was running,
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it was the week after the midterms in twenty twenty two.
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Back then, prices were really high and the rate of
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inflation was still really high month over month, and obviously
15:01
here over year and now I think the conversation with
15:06
voters isn't so much you know, looking at jobs data,
15:09
or you know, I'm having a hard time finding a job.
15:12
It's more, you know, how I'm feeling about the economy
15:16
and how these higher prices have sort of made people
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who have relatively high income feel that they don't have
15:23
the purchasing power that they used to or the disposable
15:26
income that they used to. I will say, though, sort
15:29
of a unique issue here in Michigan is like I
15:32
mentioned the transition to electric vehicles that the Biden Harris
15:36
administration has pushed for, and obviously Harris has the endorsement
15:41
of the United Auto Workers union. But when you talk
15:44
to a lot of rank and file members of the union,
15:47
many of them say, we're concerned about that. And to
15:49
go back to your question about jobs, that's where the
15:52
job's conversation comes into play. It's the concern that electric
15:56
vehicles take fewer workers to assemble, and so they are
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worried that if we do kind of force this transition
16:03
to electric vehicles, especially when maybe mass adoption of them
16:07
hasn't taken place yet, that could affect the economy. Not
16:11
just of those UAW members and auto workers specifically, but
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Michigan's entire economy is largely based on the auto industry,
16:18
and so the concern over jobs is more like a future,
16:21
a forward looking concern than a present concern.
16:26
Speaker 2: I know you mentioned one potential first time home buyer
16:29
that you chatted with, but clearly the price of housing
16:32
has risen dramatically, especially when you you know we'll get
16:35
it in terms of monthly payment on actual you know,
16:38
the prices that you have to pay. What kind of
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sense do you get up there? As far as how
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big of a concern housing costs are for people, I
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think it's.
16:46
Speaker 7: A huge concern. I talked to another person who said,
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I'm having to choose do I pay my mortgage this month,
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do I buy the groceries that I would typically buy,
16:56
do I pay my utility bills? So it's it's the
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combination of everything, all all of the expenses that every
17:07
single American has that they're they're looking at and that's
17:11
you know, the concern. It's not it's not necessarily housing
17:15
costs only. It's housing costs are high, food prices are high,
17:19
Electricity bills are higher, especially in a you know, in
17:22
a state that gets cold, and the same in your
17:25
neck of the woods. So it's sort of a combination
17:30
of all of these factors that's just making life feel
17:34
so much more expensive than it used to be. And
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like I said, we're not talking about, you know, people
17:40
lower on the income scale. These are people who have
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jobs where they feel like they should be able to
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you know, have you know, disposable income, and they don't
17:49
necessarily feel that way.
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Speaker 6: Very good, Graaty, appreciate you joining us today.
17:54
Speaker 2: Enjoy the rest of the day. Hope you get where
17:56
you're going safely and we will catch up with you soon.
18:00
Speaker 7: Sounds good. Shock we're falling off the highway and now
18:02
have a good one.
18:02
Speaker 6: There you go.
18:03
Speaker 2: That's Grady Tremble from Fox Business talking about voters biggest
18:06
economic concerns. Taking a look at markets as we had
18:08
towards the bottom of the hour, still just kind of
18:11
chopping around a little bit. The doas off one hundred
18:13
and ninety six points, but the S ANDP is flat,
18:15
the Nasdaq is up twenty five, so no clear movement
18:18
in either direction at the moment. Quick break, We've got
18:22
the trivia answer, and then we're talking about traders getting
18:27
ready for tomorrow's election night.
18:35
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Speaker 2: Mike Tomorrow Night. Are you going to be engaged in
19:09
lots of trading as a result of the election?
19:13
Speaker 3: No?
19:14
Speaker 6: No, there's some people that do specifically both.
19:17
Speaker 2: You know professional Wall Street traders and you know amateurs
19:20
who like to go on prediction markets and trade those
19:22
things as well.
19:24
Speaker 3: And there's bets on the dollar, there's bets on bonds,
19:27
there's bets on equities, there's bets on correct all different things.
19:31
Speaker 2: And so if you're trading any of these after hours markets,
19:34
futures markets, things like that, there's all kinds of activity,
19:37
and it can be one of either the most or
19:40
least profitable nights of your year. Uh and either way,
19:44
probably one of the more stressful ones because of the
19:46
potential swings that you can see. I still remember back
19:49
in twenty sixteen, just the absolutely wild stuff that we
19:54
saw was around ten thirty Eastern and it was clear
19:57
that Donald Trump was going to win the twenty six election,
20:01
and I remember like CNBC alerts were being sent to
20:03
my phone every five minutes, like Dow futures down six
20:07
hundred points, Dow futures down seven hundred, eight hundred, nine hundred.
20:09
Speaker 6: I think we got to like.
20:10
Speaker 2: Down a thousand at one point, and I finally was
20:14
just like, okay, look like let's deal with in the morning.
20:16
Like I can't do anything right now, We'll see what
20:18
happens in the morning. I wake up and Dow futures
20:21
are up like five hundred points at that point, I think,
20:24
and I'm like, oh, like this is kind of wild.
20:26
Everyone finally realized that you're going to get, you know,
20:29
tax reform as a result of what happened last night,
20:32
and so you can just see these these monster swings
20:35
and it's it's also evidence where hey, even if you
20:39
have exactly right what you think is going to happen
20:42
in the election, you might get the market behaving completely
20:46
differently from how you think it's actually going to play
20:50
out in the event that you get what you think
20:51
you're gonna get election wise, Yeah, I would.
20:54
Speaker 3: Just you know, if you're thinking about we never tell
20:57
you do or don't invest on a certain promise or idea.
21:01
And there are probably people that have an idea of
21:02
how to make money on the election, but specifically, ask yourself,
21:06
what is my thesis here and what's my play? What
21:09
advantage do I have? And this is not specifically about elections.
21:12
This is the same story that we were just trying
21:14
to make with the Warren Buffett story.
21:16
Speaker 6: What's your edge?
21:17
Speaker 4: What is your edge here?
21:18
Speaker 3: To say, oh, yeah, I've got this theory where if
21:21
the election goes this certain way, then I think this
21:24
specific area of this specific market is going to out
21:27
or underperform if you have that. If you can't and
21:31
you can explain it to a child, if you can't
21:34
explain it.
21:34
Speaker 2: To a thirteen year old in thirty seconds, you don't
21:37
have an edge. Yeah, that's the general rule of thumb
21:40
that I have on and anything related to investing. Yeah,
21:43
because or if you explain it to a thirteen year
21:46
old and they say that's dumb, that's also not edge like.
21:50
You don't get to say to your thirteen year old, Hey,
21:52
I read in Barons that this is gonna happen. Okay,
21:56
so did everyone else. That's not edge like. It also
21:58
has to make sense and not everyone has to have
22:01
that view, and it can't be publicly known that way.
22:04
Speaker 3: Fortunately, I have to raise my hand here and say
22:07
that I don't think that this is a very common
22:10
investing mistake that I see amongst most people. I don't
22:14
see a lot of people gambling away their lives on
22:18
short term trading theories that they haven't parsed out very well.
22:20
Speaker 2: No, but here's what I will tell you is the
22:23
last two elections twenty sixteen, I have had people call
22:26
me the day after saying, hey, I don't like Trump,
22:32
I don't like that he won. I don't think I
22:35
want to own equities going forward. And I had the
22:38
exact opposite, and I had the same thing in twenty
22:41
twenty from people who didn't like Biden. Yep, and in
22:45
both cases, doing anything there was just a huge mistake.
22:50
It's not to say that like stocks always go up
22:53
after an election.
22:54
Speaker 6: They don't.
22:54
Speaker 2: Like there are plenty of times where hey, for a
22:57
couple of years, like look at two thousand.
23:00
Speaker 6: It is an example.
23:01
Speaker 2: You had an election in November, markets didn't bottom from
23:03
the financial crisis until was it March of nine? I
23:06
think yes. And so it's not I'm not saying, hey,
23:10
like stocks always go up after an election. What I
23:13
am saying is just because you might not personally like
23:17
the result in either direction. That's a that's a bad
23:23
reason to do something. I've said it before and I'll
23:24
say it again. Emotional investing is bad investing, right and
23:29
and this is just a different form of emotional No.
23:31
Speaker 3: Guarant no guarantee we're going to know specific results immediately either.
23:35
How long did it take for us to get the
23:36
makeup of the Senate after the twenty twenty election?
23:39
Speaker 4: A week?
23:39
Speaker 1: No?
23:40
Speaker 6: Three months? We had those Georgia specials in January.
23:44
Speaker 3: So like the entire idea that you can build a
23:47
full investment thesis on an election I find suspicious, I
23:53
guess is my point here. And it's not that I
23:55
haven't heard good ones, but I very I've rarely have
23:58
ever heard a successful one. And that's where I just
24:01
ask people to check their emotions at the door and
24:04
really genuinely ask.
24:05
Speaker 4: Themselves, do I have an edge here?
24:08
Speaker 2: The people I know that are actually good at this.
24:10
I do know some that are really good at this.
24:15
They've spent the last year formulating what they're going to do.
24:19
They've quite literally spent a thousand hours not reading CNBC
24:26
and stuff like that, but making their plans for how
24:28
they're going to go about this. If you haven't done that,
24:34
that's what you're competing against. Like, it's not that you're
24:37
going to win or lose. I have no idea. Like
24:39
everyone gets lucky. Sometimes they're unlucky, but you generally have
24:44
more luck the better prepared you are. And you're going
24:46
against people that have spent thousands of hours getting ready
24:50
for this.
24:51
Speaker 3: If you are finding yourself as by the way, so
24:54
many people that I have talked to have found themselves
24:57
in this election uncertainty, malaise, just unable to make decisions,
25:06
unable to decide what to do next with their careers,
25:09
with their investment portfolio, with their retirement, just saying I've
25:13
gotta wait till this thing is over with before I
25:16
make some sort of big decision, I guess my first
25:19
thing would be I think that's a mistake. But if
25:21
you're falling into that category, the worst thing you can
25:24
do is then see the election outcome, not like it,
25:27
and put your head in the sand for another few
25:29
years as you wait that out. If you're finding yourself
25:33
in that category of putting off decisions and waiting on
25:36
things that really don't deserve to be put off, please
25:39
call the folks at Armstrong Advisory Group for a review
25:42
of your investment and financial plan. It's always really, really important,
25:47
and I do understand why people put it off, but
25:49
I'm here to tell you that sticking your head in
25:51
the sand and waiting, especially in moments like this where
25:54
the economy is at a bit of a pivot point,
25:57
we have seen a slow down. We have a FED
25:59
meeting come up Thursday that's going to acknowledge some of
26:01
those points. Give us a call, let us sit down
26:04
with you and at least explain our process. The phone
26:07
number for a free consultation anywhere in New England is
26:10
eight hundred three nine three four zero zero one, almost anywhere,
26:14
just about everywhere in New England again. We offer free
26:17
consultations with the Armstrong Advisory Group and the phone number
26:21
is eight hundred three nine three four zero zero one.
26:24
Speaker 1: The proceeding was paid for by Armstrong Advisory Group, a
26:27
registered investment advisor. Nothing in the ad or in any
26:29
Armstrong guide a specific financial, legal or tax advice. Consult
26:32
your own financial tax into state planning advisors before making
26:35
any investment decisions. Armstrong may contact you to offer investment
26:38
advisory services.
26:40
Speaker 2: On Friday, the IRS announced new contribution limits for four
26:45
to one K accounts in twenty twenty five. You're going
26:49
to be able to contribute up to twenty three thousand,
26:51
five hundred or four oh one K plan. That's up
26:53
from twenty three thousand this year. That also applies to
26:56
four h three B four p fifty seven and the
26:58
Government's thrift Saving Plan iras You're screwed again staying at
27:03
seven thousand. No bump there, and the ketchup contribution limit
27:08
stays the thousand for IRAS.
27:10
Speaker 6: For four to one k's.
27:11
Speaker 2: The ketchup contribution remains at seventy five hundred, So twenty
27:14
three five plus seventy five hundred equals thirty one thousand.
27:18
So that's what you're gonna be able to contribute if
27:20
you are over the age of fifty. But if you
27:22
are in the uh the super boost.
27:26
Speaker 4: God that twenty twenty five or is that twenty twenty six, No.
27:30
Speaker 6: It's it starts next year.
27:32
Speaker 2: It's not required to be wroth until the year after,
27:35
but that that super Ketchup group for four from age
27:42
sixty to sixty three can have the Ketchup contribution at
27:45
eleven two hundred and fifty dollars.
27:50
Speaker 3: Once again, Irs and Congress, thank you so much for
27:54
all the job security you provide to accountants, lawyers, and
27:58
financial advisors, because that's the only thing I can see
28:01
that you've meaningfully done with all of this. Yes, so
28:04
that's what I genuinely don't think that any of these
28:06
change boost retirement security.
28:07
Speaker 4: I just thrown out my hand.
28:09
Speaker 3: I think the one thing you can definitively say about
28:12
that is that boost job security for those rules.
28:15
Speaker 6: Yeah, I think that's fair. So that's what we're seeing.
28:17
Four contributional limits for next year. Quick break here. When
28:20
we come back stack root, let's.
28:23
Speaker 1: Text us six one seven, three, six two thirteen eighty
28:26
five with your comments and questions about today's show and
28:30
let us know what you think about the stories we
28:32
are covering. This is the Financial Exchange Radio Network. If
28:37
you missed any of today's show, catch up whenever you
28:39
want on our YouTube page. Find daily show segments and
28:42
full shows. Just go to YouTube dot com and search
28:45
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28:48
business and financial news. This is the Financial Exchange Radio Network.
28:55
Speaker 5: This segment of the Financial Exchange is brought to you
28:57
in part by the US Virgin Islands to I'm going
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29:31
Speaker 6: Mike, what do you got for me?
29:32
Speaker 3: I want to talk about food because it's eleven fifty
29:34
and I'm hungry. The mysterious fees that are inflating your
29:38
grocery bill is the piece from the Wall Street Journal
29:40
talking specifically about some food distribution networks that have been
29:45
adding fees and you know, getting questions from people. But
29:48
the overall piece here is about general confusion as to
29:51
why food prices are up so much, And according to
29:53
the BLS, I think it's about twenty five percent since
29:56
twenty nineteen of total inflation in the food at home
29:59
CA category, which is about in line with overall inflation
30:03
generally speaking.
30:04
Speaker 4: So I was curious.
30:05
Speaker 3: Unfortunately, not many of these food distributors are publicly traded,
30:08
so I couldn't get data on them, but one of
30:10
them is United National, Sorry, United Natural Foods. I pulled
30:15
their earnings before ibit does so earning before interest, taxes, appreciation,
30:21
or amortization, and I just looked at their margins from
30:24
the average. The longest date I could get was since nine,
30:27
so from twenty nine through twenty nineteen, this company had
30:30
an average margin of about three and a third percent.
30:33
Average for twenty twenty three twenty twenty four one and
30:36
a quarter so I don't know if they're doing it,
30:39
but clearly it's not going to their margin. This is not,
30:42
you know, across the board. But when I looked at
30:44
the major grocers as well, Kroger, Walmart, profit margins in
30:49
Kroger's case about the same as they were pre COVID.
30:52
Walmart's lower five and a quarter in twenty twenty three
30:55
and twenty twenty four compared to seven percent pre COVID.
30:58
PEPSI we're margins twenty twenty three, twenty twenty four compared
31:02
to pre COVID, there are very few. Proctor Gamble actually
31:06
did see growth in margins over the last few years
31:10
compared to pre COVID, so I'll put them in the category.
31:13
But I went through a number of these to try
31:15
and see if I could find a glaring story here
31:18
of oh yeah, this company is bringing home much fatter
31:22
margins on their business since COVID, and I got to
31:25
tell you, in the grocery space, at least, I didn't
31:27
find much evidence of it.
31:29
Speaker 2: Yeah, I think that's fair, Mike. I'm gonna let you
31:32
pick what I'm going to talk about now. It's kind
31:35
of a lazy stack through lapps.
31:39
Speaker 4: Oh you're gonna be choices.
31:40
Speaker 2: Yes, are we going to talk about daylight savings time ending,
31:44
or are we going to talk about TGI Friday's filing
31:46
for bankruptcy.
31:47
Speaker 6: Let's go daylight.
31:48
Speaker 4: Savings, because I think we're going to disagree on it.
31:50
Speaker 6: We cover this every year.
31:53
Speaker 2: This day we turn the clocks back, everyone freaks out.
31:58
Speaker 5: We cut off with it one time, like three or
32:00
four years ago.
32:01
Speaker 1: Remember that.
32:02
Speaker 6: Oh yeah, yeah, it's we're leading off with this. Damn it.
32:05
Speaker 2: Everyone freaks out when we turn the clocks back, and
32:11
we get the pieces that are written that are like, hey,
32:14
most people don't want to do this anymore, we should
32:16
just keep things the same the whole time. And then
32:19
we get people, you know, naturally right in the responses, Well,
32:22
you can't keep it the way it is in the
32:23
summer because it's too dark in the morning when the
32:25
kids are going to school. Well you can't keep it
32:27
the way it is in the winter because then it
32:28
would be light so early.
32:30
Speaker 6: In the summer.
32:32
Speaker 2: Ultimately, what is the actual inconvenience of changing things by
32:38
an hour each time?
32:42
Speaker 5: You know, each time we do this setting my oven
32:45
clock back?
32:46
Speaker 3: Yeah, that radio, so the car radio pretty easy. The
32:50
oven clock my god.
32:51
Speaker 1: The microwave.
32:53
Speaker 6: Okay, so it costs you like thirty seconds, maybe twenty seven.
32:57
Speaker 3: So the biggest inconvenience to me is not the short
32:59
term I For me, it's just the genuine dislike of
33:03
how long I'm awake during the dark. And that's just
33:06
a me thing.
33:08
Speaker 4: I'm not a morning person.
33:10
Speaker 6: What does that mean.
33:11
Speaker 4: I'm not a morning person.
33:12
Speaker 6: I'm not playing Aaron Rodgers. I was born in the dark.
33:18
Speaker 3: I did not take away whatever that drug is before
33:21
the show. No aluasca, Yeah that one, Yeah, we should
33:24
do that.
33:25
Speaker 2: The show all in darkness on ayahuasca.
33:28
Speaker 4: Well, could go wrong.
33:29
Speaker 3: I uh yeah, just my genuine dislike for the sun
33:34
setting at four o'clock, that's all.
33:35
Speaker 6: So, which do you dislike more? Being this?
33:38
Speaker 1: This?
33:38
Speaker 6: Talking about it?
33:40
Speaker 3: I disliked I dislike being this time. Yeah, this period
33:47
of time. I dislike the period of time eleven four. Yeah,
33:54
the time where I'm locked in the.
33:56
Speaker 6: Trying to say she doesn't like the dark.
33:58
Speaker 4: I don't like the dark.
33:59
Speaker 1: Dark.
33:59
Speaker 4: Then you got to be in the afternoon.
34:00
Speaker 2: You've got to move south dark in the after can't
34:02
live in New England if you don't like it that way.
34:04
Speaker 5: Yeah, yeah, just want to remind everybody in case you
34:07
missed it, the Ultimate Boston Sports Auction is now officially open.
34:12
It's to benefit the Disabled American Veterans Department of Massachusetts.
34:16
And again we have four incredible items to bid on,
34:19
and again all to benefit the Disabled American Veterans Department
34:23
of Massachusetts. The high bidder between now and Friday at
34:26
eleven forty five will take home all four of the
34:30
following items. It's a pair of tickets to see the
34:32
Patriots play the Rams on November seventeenth, including a pregame
34:36
visit to the field that Drake May autograph Team Jersey
34:39
and a Ben Coates autograph Team Jersey. A pair of
34:42
tickets to see the Celtics play the Cavaliers on November nineteenth,
34:46
in addition to an autograph basketball from Chris STAPs porzingis
34:51
a pair of tickets to see the Bruins play the
34:53
Edmonton Oilers Very Good Team on January seventh, and a
34:56
Brandon Carlow autograph picture. And finally, four tickets to a
35:01
twenty twenty five Red Sox home game, as well as
35:03
a visit to the WEI broadcast booth and a Pedro
35:08
Martinez autograph baseball. Now, the current bid is twenty five
35:12
hundred dollars, and if you'd like to increase that amount
35:16
and take home all four of these incredible auction items,
35:19
call the bidline right now.
35:21
Speaker 6: It's eight eight eight.
35:22
Speaker 5: Two zero five two two sixty three. That's eight eight
35:25
eight two zero five two to two sixty three. And
35:28
again it's all to proceed to benefit the Disabled American
35:32
Veterans Department of Massachusetts.
35:35
Speaker 6: So if we're changing the cocks in the future, no.
35:37
Speaker 4: Now, keep them, keep them steady, just keep them, stop changing.
35:41
Speaker 3: I've even come around that if New York wants to
35:43
do their own thing, I'll still change them.
35:45
Speaker 6: What do you mean? What do you mean New York here?
35:47
Speaker 3: If we have to be on different time zones for
35:49
a period of time, I'm okay, I'm okay with that.
35:51
Speaker 2: I think that the obvious solution here is we need
35:53
more time zones, state minutes. Yes, the United States should
35:58
have sixteen different time zone just like India.
36:02
Speaker 6: Forget.
36:02
Speaker 2: I mean, yeah, India's wild, Like it's you go to
36:05
like a different city and it's like, oh, like I
36:07
was right, No, no, no, it's we have our own
36:09
time here.
36:09
Speaker 5: Ye.
36:10
Speaker 6: Oh okay, we're gonna take a.
36:13
Speaker 2: Quick break for the rest of the day, back at
36:14
it tomorrow, and we'll have uh everything you need to
36:17
get ready for election night tomorrow.
36:19
Speaker 6: On the Financial Exchange