Latest / Brian Thomas / Money Monday with Brian James -- 11/24/25

Transcript

Money Monday with Brian James -- 11/24/25 · Brian Thomas

0:02
Speaker 1: Kyo fik you about karsened De talk Station. Happy Monday,
0:07
Speaker 1: Christopher Smithman and the Smithvent if you have Karse dot
0:10
Speaker 1: com on the podcast page, and welcome back to the
0:13
Speaker 1: fifty five Krose Morning Show. Monday Monday's Brian James. Thanks
0:16
Speaker 1: to All Word Financial Loan and you out every Monday.
0:17
Speaker 1: It's good to have you on the show.
0:19
Speaker 2: Happy Thanksgiving week to you, mister Thomas.
0:21
Speaker 3: And let's not start this week by talking about stuff
0:24
Speaker 3: that happened at Peycourse Stadium unless we're.
0:26
Speaker 2: Gonna talk about the Instant.
0:27
Speaker 3: Classic, not yesterday but Friday night between Santax and Older.
0:31
Speaker 2: What an awesome game.
0:34
Speaker 3: I love my sant X Bombers, but the pit is
0:36
Speaker 3: one of the awesomest places to go see a game,
0:38
Speaker 3: only left out by the fact that the clearview no
0:41
Speaker 3: longer exists, so you can get a fish log and
0:43
Speaker 3: a plastic picture of hoodie any clearview tamer and we
0:46
Speaker 3: used to go there after Little league baseball games.
0:47
Speaker 1: They buy us a picture, a cooker, coal and a
0:49
Speaker 1: and a and a bowl of pretzels and chips, and
0:52
Speaker 1: the and the dads would sit around the table and
0:54
Speaker 1: chug down pictures of beer.
0:56
Speaker 2: So fond memories, plastic pictures.
0:57
Speaker 3: Absolutely, that's a great place and you could order some
1:00
Speaker 3: gastro and testina regret for the next day. Yes, I
1:02
Speaker 3: ended up missing it unfortunately though, because we could. We
1:04
Speaker 3: were going to go to the game, but the weather
1:06
Speaker 3: screwed up traffic and all that, so we ended up
1:07
Speaker 3: up at Liberty Collective up in Liberty Township. That's another
1:10
Speaker 3: great place to watch a game on the big screen.
1:12
Speaker 3: They've been putting high school games on there all seasoned long.
1:15
Speaker 3: So if you get a chance, come up here to
1:16
Speaker 3: La Coota East High School and give it a watch.
1:18
Speaker 2: Oh, starting off on a positive note and happy things.
1:20
Speaker 1: I don't want to talk about the Bengals, I know,
1:22
Speaker 1: I know, I know, although I did. The defense did
1:24
Speaker 1: show up for a while there during the game, Yeah
1:26
Speaker 1: they did.
1:27
Speaker 2: I was impressed.
1:28
Speaker 1: Man, they held them at the line a couple of
1:30
Speaker 1: different times, and I keep think of, what's a foregone conclusion,
1:33
Speaker 1: We've got another touchdown coming our way. But now so anyway,
1:35
Speaker 1: there was some positive light in that game, but obviously
1:38
Speaker 1: a said overall outcome, So we're just gonna have to
1:40
Speaker 1: live with it, and we're gonna have to live with
1:42
Speaker 1: inflation too. I don't know where you want to start.
1:44
Speaker 1: I know where you got the FED. Maybe maybe not
1:47
Speaker 1: cutting the interest rate this fall, we've got middle class
1:50
Speaker 1: buckling under persistent inflation. Maybe we should start with that one,
1:53
Speaker 1: then segue over to whether we're using our money the
1:55
Speaker 1: right or wrong way. But yeah, we have persistent inflation.
1:58
Speaker 1: It's going on for years now. Everything's more defensive. And
2:00
Speaker 1: Brian James, how likely is it that prices are going
2:03
Speaker 1: to be rolled back to, say, nineteen ninety nine at
2:05
Speaker 1: any time in the future.
2:07
Speaker 3: Well, I wouldn't be holding our breath on that particular topic,
2:10
Speaker 3: mister Thomas.
2:11
Speaker 2: I don't think that's the way it works.
2:12
Speaker 3: But yeah, So what we're seeing now is we're really
2:15
Speaker 3: starting to see the strain of inflation. So after five
2:17
Speaker 3: years of being the way it is, lots of middle
2:20
Speaker 3: class households are really showing some concern about it. Headline
2:25
Speaker 3: inflation has fallen from twenty twenty two, so we're not
2:28
Speaker 3: at the nine percent crazy.
2:29
Speaker 2: Inflation that we used to be, but it's still up right.
2:32
Speaker 3: So the inflation doesn't generally go back to the way
2:35
Speaker 3: it was, It just stops increasing at the same rate.
2:38
Speaker 3: So where we did have nine percent inflation, we've dropped
2:40
Speaker 3: back to three. We would very much appreciate if we
2:43
Speaker 3: could get back to two percent, that would be nice,
2:45
Speaker 3: but that's probably not in the cars anytime soon. So
2:48
Speaker 3: households earning sixty six thousand to maybe two hundred thousand
2:51
Speaker 3: are part of this survey, and just lots of them
2:53
Speaker 3: claiming that they know their purchasing power has declined and
2:57
Speaker 3: really starting to see the numbers come through in their checking.
3:00
Speaker 1: Well, doesn't this serve as a moment of reflection to
3:04
Speaker 1: pause and really think about whether or not this is
3:06
Speaker 1: the way I've lived my life? Brian James? Do I
3:09
Speaker 1: really need it now? I occasionally bend the rule and
3:12
Speaker 1: give myself a little pat of the back or gift
3:14
Speaker 1: as a consequence of my hard work, But a lot
3:16
Speaker 1: of times, you know, I'll stand there it's like, no,
3:18
Speaker 1: don't need it. I don't really need to buy that.
3:20
Speaker 1: It's an impulse by If I wait five minutes, I'm
3:22
Speaker 1: it's going to clear my head. I'll move on with
3:23
Speaker 1: my wife, and I won't regret not buying whatever it
3:26
Speaker 1: is I'm contemplating. But it's been a real check on
3:29
Speaker 1: managing money over the years, with my wife and I
3:31
Speaker 1: I'm lucky enough to have married a very frugal woman
3:33
Speaker 1: who kind of goes through life the same way. Do
3:35
Speaker 1: I really need it? The answer is not really, Then
3:38
Speaker 1: you just do it out. It's like Starbucks coffee. Anytime
3:40
Speaker 1: I read an article about someone complaining about inflation then
3:42
Speaker 1: turns to their eight dollars a cup Starbucks, I'm sorry,
3:45
Speaker 1: I've got no love for that. You buy a count
3:48
Speaker 1: two pounds of coffee at Costco. Yes, it's now eighteen
3:50
Speaker 1: ninety nine for the two pounds, but you can make
3:53
Speaker 1: fat tons of coffee, pots pot's worth of coffee that
3:56
Speaker 1: are less money than the eight dollars one single cup
3:59
Speaker 1: at Starbucks is one of many things to get unto
4:01
Speaker 1: my skin, Brian. But then again, you choose what you
4:04
Speaker 1: want to spend money on. But there are ways that
4:06
Speaker 1: we can all trim. Don't we need to reflect on
4:08
Speaker 1: what's important?
4:09
Speaker 2: Brian James.
4:10
Speaker 3: Yeah, I think it's been a few decades really since
4:12
Speaker 3: we've had since the country as a whole has been
4:15
Speaker 3: really forced to choose this. But not that because we've
4:19
Speaker 3: been so successful economically that we've many people really just
4:22
Speaker 3: haven't been forced into that situation and like you just raised,
4:25
Speaker 3: you're not either, and neither am I, except that we
4:28
Speaker 3: notice it. So in the conversations I have with my clients,
4:31
Speaker 3: you know, there's really.
4:32
Speaker 2: Two worlds out there.
4:33
Speaker 3: There are people who are forced and have to cut
4:35
Speaker 3: back and it's just the way it is, and there
4:37
Speaker 3: are people who are just annoyed by it. It seems
4:40
Speaker 3: like everybody is in one of two groups. And unfortunately,
4:43
Speaker 3: we're just in a situation where the country has been
4:45
Speaker 3: so successful economically that we can afford to get away
4:48
Speaker 3: with it for now, and that hurts a lot of
4:50
Speaker 3: people that are on the lower end of the economic spectrum.
4:52
Speaker 3: Those are the ones that are getting hurt. The rest
4:54
Speaker 3: of us are just annoyed. So be thankful if you're
4:56
Speaker 3: in that latter group. Be thankful on Thursday that that's
4:59
Speaker 3: the case you. If you can choose not to do
5:01
Speaker 3: something because it annoys you that it's too expensive, that's
5:04
Speaker 3: one thing. If you have to do it and you
5:06
Speaker 3: have to sacrifice something else important, that is another thing.
5:09
Speaker 1: Entirely well, yeah, and your last word is the most
5:11
Speaker 1: important thing, an operative word in the sense if it's important.
5:15
Speaker 1: Very surely we are priorities about what is truly important.
5:18
Speaker 1: I think are kind of out of whack, and I
5:20
Speaker 1: agree with you completely for the reasons you stayed. We've
5:22
Speaker 1: just had it so wonderful in this country for so
5:25
Speaker 1: long you really pretty much have to go back to
5:28
Speaker 1: I don't know whether it was the tech bubble to burst,
5:31
Speaker 1: the housing bubble to burst, but I think more fundamentally,
5:33
Speaker 1: the entire decade that was the nineteen seventies to get
5:36
Speaker 1: to a point where things were really really crappy and
5:38
Speaker 1: everyone pretty much felt it, including the house I grew
5:41
Speaker 1: up in.
5:42
Speaker 3: Yeah, and I would say all of the different things
5:45
Speaker 3: that have happened, and I've mentioned this before, but over
5:47
Speaker 3: the last say fifty years, like you mentioned, the seventies
5:49
Speaker 3: touched everybody, not a lot of you know, you couldn't
5:52
Speaker 3: really find corners of the economy they were doing well
5:55
Speaker 3: Versus two thousand and two, twenty and eight, and twenty
5:58
Speaker 3: twenty two. All of those came along with crazy stock
6:00
Speaker 3: market and economic swings, but those each one, and each
6:03
Speaker 3: one of those became a catalyst.
6:05
Speaker 2: Right.
6:06
Speaker 3: So, so two thousand and two we had the tech
6:08
Speaker 3: bubble burst that cleaned up the tech industry, and then
6:10
Speaker 3: it went on to the Great Heights that we've seen now.
6:12
Speaker 3: Two thousand and eight, we saw the financial backbone of
6:15
Speaker 3: the country almost collapsed. Cleaned that up and went on
6:18
Speaker 3: to greater heights too. Twenty twenty two was the COVID pullback,
6:21
Speaker 3: and that ended up becoming a tech boom because everybody
6:23
Speaker 3: had to go get a second desktop worth of technology
6:26
Speaker 3: to bring it home. All those things drove the market higher,
6:29
Speaker 3: and I would say, I agree with you. In the seventies,
6:31
Speaker 3: that really wasn't the case. We had ten years of stagnancy.
6:34
Speaker 3: Even if you were doing okay, it meant you were
6:36
Speaker 3: treading water. The rest of the country was kind of
6:38
Speaker 3: occasionally bobbing up and down below the surface. So yeah,
6:42
Speaker 3: it's been a long time since we've had to sacrifice.
6:44
Speaker 3: And when I look back, I feel like the eighties
6:46
Speaker 3: and the nineties were the anomaly because really, nothing bad,
6:49
Speaker 3: nothing crazy, happened. We had twenty years worth of solid
6:53
Speaker 3: markets and there I think there's a whole generation to
6:55
Speaker 3: people who feel like that every pullback has been since
6:57
Speaker 3: then has been a mistake, something went wrong. But if
7:00
Speaker 3: you look back over history, that's not the case. It's
7:02
Speaker 3: the opposite. There's usually chaos. The eighties and the nineties
7:05
Speaker 3: were too quiet, and that led a whole generation plus
7:07
Speaker 3: of people to think that that was the norm. So
7:10
Speaker 3: that gave us kind of a bit of a mistaken
7:14
Speaker 3: underpinning of what we think the economy is supposed to be.
7:17
Speaker 3: But I believe over the last quarter century or so,
7:19
Speaker 3: we've been reminded that it don't work.
7:21
Speaker 2: That way all the time.
7:21
Speaker 1: Yeah, and you know, one of the points that was
7:23
Speaker 1: made in this American Happiness is that a record low
7:26
Speaker 1: are we just using money the wrong way? Article that's
7:28
Speaker 1: kind of served as the impetus for this discussion some degree. Anyway,
7:31
Speaker 1: And you know, back to my complaint about Starbucks coffee.
7:34
Speaker 1: I love this woman who's quoted in the article. You know,
7:37
Speaker 1: she cried every day after buying a five thousand square
7:39
Speaker 1: foot house in Brooklyn, and she's lamenting that, Oh, it
7:43
Speaker 1: was my dream to have, you know, grow up in
7:45
Speaker 1: a big house or you know, raised my family in
7:47
Speaker 1: a big house. Well maybe the dream was misplaced. I mean,
7:51
Speaker 1: I think about this. She recoonized, Okay, we had cleaning
7:53
Speaker 1: the house was a big, massive undertaking. Then her mom
7:56
Speaker 1: shows up and says, you don't have any window treatments.
7:57
Speaker 1: You need window treatment. So She's like, okay, I'm going
7:59
Speaker 1: to come to now. I spend my time doing window treatments.
8:02
Speaker 1: You know, furnishing a big home like that is expensive,
8:04
Speaker 1: cleaning it, heating it, you know, more a cooling of
8:07
Speaker 1: the summertime. What are you using it for? Is this
8:10
Speaker 1: keep up with the joneses? Are you a victim of
8:12
Speaker 1: so much marketing that you feel that unless you have
8:15
Speaker 1: something that is extraordinarily large, too large for your even
8:18
Speaker 1: your basic needs, that that's the right way to go.
8:21
Speaker 2: Do you need it? That's going back to my fundamental question,
8:24
Speaker 2: do you really need it? Right?
8:26
Speaker 3: And I think that's where we've convinced ourselves that we
8:28
Speaker 3: deserve certain things, and then certain things are just expected
8:30
Speaker 3: to be. As you said, it was always her dream
8:32
Speaker 3: to raise a family in her you know, in a
8:34
Speaker 3: large house. So I think back to the books that
8:36
Speaker 3: John Steinbeck wrote about the Great Depression.
8:39
Speaker 2: It was somebody's dream to raise a family in a house.
8:42
Speaker 3: I don't think anybody's going to be writing any classic
8:44
Speaker 3: American literature about not being able to get the window
8:47
Speaker 3: treatments you want.
8:48
Speaker 2: I know, that's exactly my point. Maybe we need to
8:52
Speaker 2: step back and just adjust a little bit.
8:54
Speaker 1: I know we have a consumer driven economy, but come on, really,
8:58
Speaker 1: you know.
8:59
Speaker 3: Great to do a little introspection and make sure that
9:02
Speaker 3: you're you're focused on the right things.
9:03
Speaker 2: And that goes for me too, rightmre.
9:06
Speaker 3: We're fortunate to not have you know, similar I know,
9:08
Speaker 3: I know I don't have too many concerns, but at
9:10
Speaker 3: the same time that also causes me to gripe about
9:12
Speaker 3: things that I really should be thankful about exactly.
9:15
Speaker 1: But you see, and you're right, I'll acknowledge my privilege.
9:19
Speaker 1: My wife and I worked very, very hard get to
9:21
Speaker 1: a point where, you know, we're comfortable and I don't
9:23
Speaker 1: see any envisioned any problems. But then again, I never
9:26
Speaker 1: was I went I never went down this road. I
9:28
Speaker 1: wouldn't be where I am today if I had been,
9:30
Speaker 1: you know, uh captivated by keeping up with the Joneses,
9:35
Speaker 1: or it's just maybe this is a good time to
9:38
Speaker 1: readjust maybe start reflecting on priorities, being thankful for what
9:42
Speaker 1: we have and maybe saying, you know what, I don't
9:45
Speaker 1: care what that guy on the street's got, what he's
9:47
Speaker 1: spending it on. In fact, I remember that my favorite
9:50
Speaker 1: commercial was the guy driving the lawnmower and he's in
9:52
Speaker 1: this front of this massive, gorgeous house, and you know,
9:54
Speaker 1: brand new Lahmer and he's driving. He's had this big
9:56
Speaker 1: grin on his face, and all he's thinking about is
9:58
Speaker 1: how underwater he is. For all the stuff that you
10:01
Speaker 1: had cut acquired.
10:02
Speaker 3: Probably can't fit that long more back in the garage
10:05
Speaker 3: because of all the other.
10:05
Speaker 2: Craft that's in there.
10:06
Speaker 1: Exactly your possessions will own you. Maybe we need to
10:09
Speaker 1: start thinking about that little bit.
10:11
Speaker 2: Brian.
10:12
Speaker 1: All right, let's be thankful for what we have and
10:15
Speaker 1: let's move on and find out what's the FED gonna
10:16
Speaker 1: do about it? If anything, Plus, is Thanksgiving going to
10:19
Speaker 1: be cheaper this year?
10:20
Speaker 2: More?
10:20
Speaker 1: With all were financials Brian James. After I mentioned Odor
10:23
Speaker 1: egsit od o r xit no e in the word
10:26
Speaker 1: Odor exit, that's the website too, Odo exit dot com.
10:29
Speaker 1: Products are manufactured right here in the Greater Cincinnati are
10:31
Speaker 1: and have been for more than twenty five years, and
10:33
Speaker 1: they work. First off, you don't last twenty five years.
10:36
Speaker 1: If your products don't work, that word does tend to
10:39
Speaker 1: get out. Then again, the products come with one hundred
10:42
Speaker 1: percent satisfaction guarantee. Whether you want to get rid of smoke,
10:45
Speaker 1: will mildew human odor pet Odors, skunk spray, that kind
10:48
Speaker 1: of nasty stuff. They have a product that will work
10:51
Speaker 1: one hundred percent satisfaction guaranteed. Use it as directed deal.
10:55
Speaker 1: Odor is gone or you get your money back. So
10:57
Speaker 1: take them up on the challenge. It's odor egsit dot com.
10:59
Speaker 1: Multiple products there. It's easy to figure out which ones
11:01
Speaker 1: you need. They'll mail it to you today. If you
11:04
Speaker 1: order early enough, it'll be on your porch tomorrow. But
11:06
Speaker 1: if you need it today, it's that bad. Buy it locally.
11:09
Speaker 1: There's a search engine on the website. On the website though,
11:12
Speaker 1: if you order it over twenty five bucks ship to
11:14
Speaker 1: you for free. Odor exit dot com works on everything
11:17
Speaker 1: except the stench of politics.
11:20
Speaker 2: Hey, twenty if fIF.
11:21
Speaker 1: You about Karose, you talk station Brian Thomas with all
11:23
Speaker 1: our financials, Brian James's doing what we call money Monday.
11:26
Speaker 1: Here's a rhetorical question for you there, Brian, as it
11:28
Speaker 1: was waiting for the commercial break to be over, would
11:32
Speaker 1: you turn down a proposal from your true love for want.
11:35
Speaker 2: Of the diamond that you had in mind that you wanted.
11:39
Speaker 3: Oh, and we'd be looking at lab diamonds all day
11:41
Speaker 3: every day. Because I'm a financial planner and she is
11:44
Speaker 3: extremely frugal too.
11:46
Speaker 2: See lab diamonds.
11:48
Speaker 1: There, they'll pick the frugal woman, that's what you need.
11:51
Speaker 1: Or frugal meat.
11:53
Speaker 3: Hey, just pick somebody who's yeah, who is doesn't have
11:56
Speaker 3: a wing it mentality?
11:58
Speaker 1: Right, You know you can always upgrade the road too
12:01
Speaker 1: when you get more money. If you're financially you're talking
12:03
Speaker 1: about the diamond or the spouse. No, the diamond, Yeah,
12:06
Speaker 1: I forgot you, well, because that's what I did. I
12:09
Speaker 1: bought the diamond on the day we just I decided
12:11
Speaker 1: I was going to ask her to be my wife,
12:13
Speaker 1: and went out and bought it. And I went to
12:14
Speaker 1: the you know, the jewelers row there in Chicago, and
12:17
Speaker 1: that's where I went, and I got what I could afford.
12:20
Speaker 2: But it was a plain simple you know.
12:22
Speaker 1: I think the setting where it was like one hundred
12:24
Speaker 1: dollars for the gold band, that's all. It was a
12:27
Speaker 1: diamond in a band. Well, several years later, you know,
12:30
Speaker 1: things had gotten a little better for us financially. I
12:31
Speaker 1: bought her a new setting and it's got diamonds in
12:34
Speaker 1: it and all this kind of stuff, so it acts
12:35
Speaker 1: censoring and she loves it. You know, didn't get it
12:38
Speaker 1: all at the first that waited a little bit.
12:40
Speaker 2: That's ironic.
12:40
Speaker 3: That's the exact same place that we did our kidding
12:43
Speaker 3: working up there at the time. And yeah, she she
12:45
Speaker 3: the only thing she gave me was she had there
12:46
Speaker 3: was she had a shape that she wanted. Nothing else mattered,
12:48
Speaker 3: and we talked about upgrading it down the road, but
12:50
Speaker 3: by the time we got there, the other things just
12:52
Speaker 3: had become more important that we were working on together.
12:54
Speaker 2: Family and house and all that other stuff. And so
12:56
Speaker 2: she still got the same one that she used to have.
12:58
Speaker 2: And you know what it has now sentimental value. There
13:01
Speaker 2: you got.
13:02
Speaker 1: I didn't get everything I wanted. But you know what,
13:04
Speaker 1: here we are today after all these years, and I
13:06
Speaker 1: have something to look at and reflect on and think,
13:09
Speaker 1: you know what, it isn't the ring that matters.
13:11
Speaker 2: Right, we are still here.
13:13
Speaker 1: Heymen, brother, over to the Federal Reserve. Now, one thing
13:16
Speaker 1: I have to observe. If the Federal Reserve cuts rates,
13:19
Speaker 1: that's fine. People may get a little giddy with excitement.
13:21
Speaker 1: It would be fine because presumably interest rates for home
13:25
Speaker 1: purchases would go down, But that does not alter the
13:28
Speaker 1: supply landscape, and it doesn't mean the price of homes
13:30
Speaker 1: mean is going to be more affordable. I would argue
13:32
Speaker 1: maybe less so since more people might be in the market.
13:35
Speaker 3: Yeah, and we've actually had some conversations on our with
13:38
Speaker 3: with other experts in the real estate space, basically saying
13:41
Speaker 3: that we could swing back into the seller's market a
13:45
Speaker 3: little bit with this because of that. Just yeah, I
13:48
Speaker 3: mean not a whole lot, just but it's just not
13:49
Speaker 3: the steady march you know, downward in terms of pricing
13:52
Speaker 3: and all that. Because of what you just said. There
13:53
Speaker 3: are people who have been sitting on the sidelines who
13:55
Speaker 3: don't have to buy a house, maybe would really really
13:58
Speaker 3: like to, but we're pausing waiting on inch. Well, we've
14:00
Speaker 3: had some interest rate cuts and that is bringing people
14:02
Speaker 3: back in the fold. If you've got a mortgage a
14:05
Speaker 3: few years ago, then you might be looking currently. We've
14:07
Speaker 3: had some upticks too, but over the last several weeks
14:09
Speaker 3: you might have been able to get in at it
14:10
Speaker 3: maybe a full one to one and a half percent
14:13
Speaker 3: a lower refinance rate to knock down that close to
14:16
Speaker 3: eight percent mortgage you were forced to get a few
14:18
Speaker 3: years ago. So we're still on that path, but it's
14:21
Speaker 3: not as likely than it was for another rate cut
14:25
Speaker 3: here in December. So we've got some of the comments
14:28
Speaker 3: that came out at the end of October from the
14:29
Speaker 3: various Fed governors basically are indicating a completely split opinion.
14:33
Speaker 3: There are those who want to go ahead and cut
14:36
Speaker 3: because of the labor situation, that's we want the lower rates,
14:40
Speaker 3: and the other half things that we need to remain
14:42
Speaker 3: at current levels because inflation is still a little higher
14:44
Speaker 3: than we want. Like we said earlier, we're way down
14:47
Speaker 3: off the nine percent peak, but we would very much
14:49
Speaker 3: prefer to be closer to two percent currently a little
14:51
Speaker 3: above three. So it depends on what camp you're in.
14:55
Speaker 3: We may or may not be looking at a rate
14:57
Speaker 3: cut here in December, but it's not as likely as
14:58
Speaker 3: it once appeared.
15:00
Speaker 1: Well, I know the labor report was pretty good, but
15:04
Speaker 1: what is this, this persistent inflation. It seems to me
15:07
Speaker 1: that at some point employers are going to have to start,
15:10
Speaker 1: you know, ratcheting up the salaries so people can afford
15:13
Speaker 1: to buy things, because again, as you pointed out, the
15:15
Speaker 1: prices are never going to come down. They're just going
15:17
Speaker 1: to either just increase by less if the if the
15:20
Speaker 1: rate of inflation drops.
15:21
Speaker 3: But well, I mean, I don't I don't know if
15:23
Speaker 3: you meant it this way or not, but you kind
15:24
Speaker 3: of said that. What you what I heard you say,
15:27
Speaker 3: was that employers will have to look at raising wages, well,
15:30
Speaker 3: not necessarily, as long as people keep showing up to work,
15:33
Speaker 3: and if they've got the option to start using AI
15:35
Speaker 3: to wipe things out. So I think over the long
15:36
Speaker 3: over the longer homes. Yeah, opposite, So it's going to
15:39
Speaker 3: be a little harder to hang on to that job
15:41
Speaker 3: for all those reasons. But at the end of the day,
15:43
Speaker 3: if they can make the same profit, or heaven forbid,
15:45
Speaker 3: actually raise it a little bit and hide the profit
15:47
Speaker 3: margin under the blame of inflation, then they're absolutely going
15:50
Speaker 3: to do that because we are the United States a
15:52
Speaker 3: profit margin.
15:53
Speaker 1: We are, indeed, And another reason you just chimed in there,
15:56
Speaker 1: artificial intelligence versus maybe a career in the t which
16:00
Speaker 1: I don't see artificial intelligence replacing any time soon, Brian.
16:04
Speaker 2: Nod I would absolutely agree with that.
16:06
Speaker 3: And that's that kind of work and working with people healthcare,
16:11
Speaker 3: you know, in home care, those kinds of things, dealing
16:13
Speaker 3: helping people aging, those kinds of things. I think where
16:16
Speaker 3: you are truly have a personal connection that is absolutely
16:19
Speaker 3: there's great opportunities there and that should not be overlooked.
16:21
Speaker 3: Maybe you had a dream of something larger, but be
16:23
Speaker 3: real careful and understand what artificial intelligence is going to
16:26
Speaker 3: be doing to a lot of different industries. Doesn't mean
16:28
Speaker 3: don't pursue it, but go in eyes wide open, Turkey
16:31
Speaker 3: dinner as an indicator of inflation, among other things. They're
16:34
Speaker 3: going to have one more segment here with money, mondays
16:35
Speaker 3: Brian James, Brian, hang on, get right back with you.
16:38
Speaker 2: Just a minute. Fifty five KRC service to America.
16:43
Speaker 1: Just I have a thirty fifty five KRCD talk station.
16:46
Speaker 1: That's the love for the veterans coming your way. In
16:48
Speaker 1: the next segment, carsee cares and it does. Chris Cluffe
16:50
Speaker 1: the since ANYVA got a couple of new outpatient clinics,
16:53
Speaker 1: a new eye center, and we'll find out about those locations,
16:55
Speaker 1: what they're offering, and other things that the VA can
16:57
Speaker 1: do and will do for the American veteran. God bless
16:59
Speaker 1: you every one of them. Brian James. Flipping over to
17:02
Speaker 1: Thanksgiving dinner, Donald Trump said it is gonna be twenty
17:04
Speaker 1: It's gonna be twenty five percent less this year. Some
17:09
Speaker 1: raising a John Desci of skepticism, Where are you on
17:12
Speaker 1: the realities of Thanksgiving? At least it doesn't usually involve beef.
17:16
Speaker 2: This is true.
17:17
Speaker 3: We can not talk about beef, and eggs aren't the
17:19
Speaker 3: star of the show either this time around. So, yeah,
17:22
Speaker 3: it's the time of year where we talk about how
17:24
Speaker 3: much it costs to lay out a table for your
17:25
Speaker 3: loved ones for Thanksgiving. And the survey we normally talk
17:28
Speaker 3: about comes from the Farm Bureau, and to me, that's
17:31
Speaker 3: the one that counts. If you're gonna look at data,
17:33
Speaker 3: you know, over a long period of time, it really
17:34
Speaker 3: kind of has to be the same data or you're
17:35
Speaker 3: just kind of making stuff up. So the Farm Bureaus
17:39
Speaker 3: one is, this is forty years old now. In their
17:41
Speaker 3: estimate is that the Thanksgiving feast for ten will be
17:44
Speaker 3: about fifty five dollars and eighteen cents. For twenty twenty five, now,
17:47
Speaker 3: that is about five percent lower than twenty twenty four.
17:50
Speaker 3: So I think it's factual to say that, yes, costs
17:53
Speaker 3: have declined, and this is the third straight year of
17:55
Speaker 3: declines after previous record highs. Go figure, the Farm Bureau's
17:59
Speaker 3: survey peaked about three years ago, when we had crazy
18:02
Speaker 3: nine percent inflation.
18:03
Speaker 1: Well wait, didn't the bird flu have an impact on
18:06
Speaker 1: that as well, because all everything does.
18:07
Speaker 3: Yeah, the bird flu comes, comes and goes. You know,
18:09
Speaker 3: we hear about it every few years. So absolutely that
18:11
Speaker 3: was there, plus just a cost of hauling a cranberry
18:14
Speaker 3: goop across the you know, in a truck coop.
18:17
Speaker 2: Maybe being a little cynical, but it is what it is.
18:21
Speaker 3: So we're contrasting that, though with what you mentioned, which
18:24
Speaker 3: the White House wanted to latch onto a claim that
18:26
Speaker 3: the Thanksgiving dinner basket is going to be about twenty
18:28
Speaker 3: five percent less this year compared with last.
18:31
Speaker 2: Now that's not untrue. They're not making it up.
18:33
Speaker 3: But what they're looking at is the promotional basket from Walmart,
18:37
Speaker 3: which at that point of that's forty bucks for ten people.
18:41
Speaker 3: Last year was about fifty six dollars for eight people.
18:44
Speaker 3: But that itself is not apples to apples. The Walmart
18:47
Speaker 3: twenty twenty five basket only had fifteen things in it,
18:50
Speaker 3: where in twenty twenty four it had twice as many.
18:52
Speaker 3: So there's you can eat less for half the costs.
18:58
Speaker 2: Size basket it has got less stuff. Is look at
19:01
Speaker 2: the size of the basket. Everybody focus on that.
19:03
Speaker 3: So you know, again, it's not untrue that the costs
19:06
Speaker 3: have come down, but it is also not true that
19:09
Speaker 3: it came down twenty five percent.
19:11
Speaker 1: That's not a thing. Well, you know, you can't get
19:13
Speaker 1: things on sale. And here's a fun fact. It's a
19:15
Speaker 1: money tip for everybody who has a dog. Yams. Yams
19:19
Speaker 1: were like forty seven cents a pound, which is a
19:21
Speaker 1: significant drop from the normal price of yams, plain old
19:23
Speaker 1: uncooked yams in a back. I think they were even
19:26
Speaker 1: maybe less than that. My wife bought like twenty pounds.
19:28
Speaker 1: Why because if you slice them up thin and you
19:30
Speaker 1: dehydrate them, the dogs love them. It is the most
19:33
Speaker 1: inexpensive dog treat you can buy, and your dogs will
19:36
Speaker 1: be happier eating the dehydrated, crispy crunchy yams than they
19:39
Speaker 1: would anything you could buy from a manufacturer. Wholesome, nutritious,
19:44
Speaker 1: no preservatives, no additives. There's your money tip for the day.
19:47
Speaker 3: Brian James and up thirty seven percent according to the
19:50
Speaker 3: Farm Bureau. Sweet potatoes spiked last year, So you're you're
19:53
Speaker 3: gonna need to kind of sacrifice some things.
19:55
Speaker 2: You want to keep that tradition going.
19:59
Speaker 1: Hate to burch your sad me Thanksgiving eighteen dollars a
20:02
Speaker 1: bag dog treats from the manufacturer. No thank you, no
20:05
Speaker 1: thank you. This makes us a great tip. Oh and
20:08
Speaker 1: I passed along to the youthful Sean McMahon who's covering
20:11
Speaker 1: the show for Joe just tracker, and I wanted to
20:13
Speaker 1: ask you this because this is a point that came
20:14
Speaker 1: up back in the day. I basically thought, I'm the
20:16
Speaker 1: Mary Smart right. I mean, if you got a good spouse,
20:19
Speaker 1: your life will be more stable. You're on the same
20:21
Speaker 1: page in terms of finances. It's easy for two incomes
20:24
Speaker 1: to afford than one, obviously, so getting married to me
20:27
Speaker 1: has always been a valuable thing from a financial stability standpoint.
20:32
Speaker 1: But Nathan and Ed used to say, you know, if
20:34
Speaker 1: you want to, you know, get a nice nested egg
20:37
Speaker 1: and be comfortable and happy in life, then get married,
20:39
Speaker 1: but never ever get divorced, because that'll send you the
20:42
Speaker 1: exact opposite direction. So ultimately you're left with the choice
20:45
Speaker 1: of making sure you find the right person up front
20:48
Speaker 1: or never get married.
20:50
Speaker 2: Yeah, that is very much.
20:52
Speaker 3: You want to get that decision right to begin with,
20:54
Speaker 3: and it's a team sport from it. It start to end,
20:56
Speaker 3: and I would throw out the most awkward client situations
20:59
Speaker 3: I have, or maybe only one of the two will
21:01
Speaker 3: show up to a meeting where we review their finances.
21:04
Speaker 3: That means one person has absolutely no idea what's going on,
21:07
Speaker 3: and I just assume that there's little to no conversation.
21:09
Speaker 3: Those are the ones that I know I'm going to
21:11
Speaker 3: be coming back three, four or five years ago and
21:12
Speaker 3: we're going to be splitting.
21:13
Speaker 2: Up the assets.
21:14
Speaker 1: It's a shame to see that. Or alternatively, try to
21:16
Speaker 1: be a little positive in it. The other person trusts
21:19
Speaker 1: the spouse so completely that he or she is making
21:22
Speaker 1: the right financial decisions, there's no need for the other
21:25
Speaker 1: person to show up, particularly if they're not interested in it.
21:27
Speaker 1: Although trust me, I see the pitfalls associated with that.
21:31
Speaker 3: Yes, that is true, and the pitfalls you're referring to
21:33
Speaker 3: is we don't get to call all of our shots
21:34
Speaker 3: in life one day. If you are the spouse who's
21:36
Speaker 3: been trusting, then that's great, except you may need to
21:39
Speaker 3: make the decisions. You've got to have an idea roughly
21:41
Speaker 3: of where things are or who the advisor is that's
21:43
Speaker 3: going to help you through it. At least be able
21:45
Speaker 3: to pick them out of a crowd.
21:46
Speaker 1: And I would argue most people are not capable of
21:48
Speaker 1: going through that exercise, which is exactly why you need
21:50
Speaker 1: the help of a financial planner who has a fiduciary
21:53
Speaker 1: obligation to you. And that's what Brian does each and
21:56
Speaker 1: every day. And I appreciate you coming to the show
21:58
Speaker 1: every Monday and indulging me with my ramble links Brian James,
22:00
Speaker 1: but also passing along some great information. We'll do this
22:03
Speaker 1: again next Monday, and again Happy Thanksgiving to you and
22:05
Speaker 1: the family and everybody at all Worth.
22:07
Speaker 3: And I appreciate you tolerating my ramblings. Thank you for
22:09
Speaker 3: that opportunity, and we will talk to you next week.
22:11
Speaker 1: Mutual exchange of ideas, that's what it's all about. Here
22:13
Speaker 1: on the fifty five KRC Morning Show eight thirty five.
22:15
Speaker 1: Right now the veterans American Vetdom, we're going to help
22:18
Speaker 1: him out. KRS Care segment with Chris Kluk from the
22:20
Speaker 1: Cincinniva got some important information to pass along. I hope
22:23
Speaker 1: you can stick around.
22:25
Speaker 3: This is fifty five KARC, an iHeartRadio station.