Join us for an action-packed episode as we navigate the twists and turns of driving laws, auto industry insights, and safety tips. Host John Rush dives into the legal gray areas surrounding mobile device use, firearm storage in vehicles, and other road-related regulations. Special guest Kurt Hopkins joins to discuss the shifting landscape of the auto industry and upcoming innovations. Plus, spirited debates with listeners about registration laws, impounded cars, and the impact of new legislation on everyday drivers. Tune in for a thought-provoking, informative, and engaging ride!
SPEAKER 17 :
All right, and we are back. As you can tell, no, you’re not going to be able to listen to the rest of Bob’s commentary, which, you know, I never have asked you, Charlie, if people want to listen to Bob’s commentary again after they’ve heard it at 5 o’clock, can they do that inside of our network? You know what? We will find out. Charlie said he doesn’t know, and I don’t know either. I don’t know if we post those things under the Crawford Broadcasting umbrella, and we may very well. So for those of you listening, if you like Bob’s commentary, which I… enjoy i typically take a little bathroom break at five o’clock come back in and listen to the rest of of bob’s commentary we’ve got some computer upgrades we have done and so as you guys all know when those things happen sometimes there’s a little glitch here or there and so we just had one of those a moment ago so i’m on a little earlier than what we would normally plan for and i don’t have my guest actually booked until about five after but kurt hopkins is going to join us here And just a little bit, we’re going to talk a little bit about the auto industry and some of what we might expect to see coming down the pike. I know I talk a lot about that because being the car guy that I am, and then we should be able to talk to Scott Garlis also at the 530 mark as well. And Neil, again, in the last hour, thank you for that. I did not get an opportunity to actually look at that particular car. I did not read the Senate bill. And if you are correct, which you probably are, because, again, I have not read this to determine whether that’s a primary or secondary offense. I will say I’m reading it right now. I’m reading the bill. So I’m reading the bill that became law. It is not a violation of the act to use a mobile electronic device in a motor vehicle that is at rest in a shoulder or lawfully parked. To cite an individual for a violation of the act, a law enforcement officer must see the individual using a mobile electronic device in a manner that caused the individual to drive in a careless or imprudent manner. The penalties for the violations are blah, blah, blah. So I believe, Neil, what you’re saying is correct, although if you’re on the phone and you’re driving below the speed limit, above the speed limit, you’re not paying attention, you’re making a turn that you shouldn’t be or you’re weaving or whatever, you’re going to get pulled over. And if they see that device in hand, you’re going to get pulled over. So that may very well be the secondary offense, but they’re going to pull you over anyways. Now, to Neil’s point and basically what this is saying as well, if you’re driving normally, I guess even if an officer sees you on the phone, probably not a lot they can do. But what I will tell you is this. And I’ve talked to a lot of officers over the years when it comes to different things on the vehicle and so on. If you have a taillight that’s out, a license plate that’s out, you didn’t signal properly, you know where I’m going with this. If they can see any other reason to pull you over and you’re on the cell phone at the same time, similar to the seatbelt law, you’re going to get pulled over and they’re going to write you a ticket. So my advice is, and yes, Neil, I know where you’re coming from on the secondary offense, and it is a feel-good law. But here’s my advice, period. This is just common sense. It has nothing to do with the law. Put the phone down. If you can use the hands-free mechanism of it and so on and make the calls and do whatever’s needed, fine. More power to you. But otherwise, put the phone down and drive like you’re supposed to, and everything else and those people around you will be much safer. So, again, we’ll do our best to get our next guest joining us here in just a few minutes. We’re at that point now where we can do that. So Kurt Hopkins should be joining us here momentarily. And, yeah, there’s going to be a lot of changes coming down the pike when it comes to the auto industry. We’ll get Kurt on and talk about that here in just a few minutes. But, again, going back to some of those laws, I’ve got a few more that I can actually talk about that will be going into effect. And, again, you can look these up for yourselves. I’ll put the article up, and you can look at actually some of the laws that are out there on the book, some of the things that even passed this last go-around when it came to the – election cycle but update to child safety seats so those of you that have kids that are still riding around in car seats there’s been some changes along those lines so make sure that you’re up to date on that as well and i’ve made fun in the past i don’t think i’m too far off that kids love to stay in a car seat till they grow a beard i don’t think i’m too far off in saying that and yes i’m being facetious but i don’t think i’m that far off because anymore you’ve got the kid in the car seat all the way up until they start driving Eggs, starting January 1, eggs must be cage-free. We talked about that a lot at the beginning of this past year. So all eggs sold in the state of Colorado will have to be from cage-free environments. That was a law that was passed in 2020. It’s been implemented in two stages. We will now be into the full stage of that starting January 1. In most stores, you’re already starting to see that. There is a gun storage requirement. We’ve talked about that as well in the past. That one goes into effect as well. And you have got to have your gun in a locked container inside of the vehicle. So locked inside of the trunk, for example. It can be inside of a locked container in the vehicle. But you cannot just leave a handgun in an unattended vehicle unless it is first secured properly. inside of said vehicle it has to be in a container placed out of view that was one of the things that was passed by this last legislative session that we complained about by the way as a program and yet it still passed. There was a lot of lobbying that went against that, and that’s one, though, that is still on the books at this point in time. So gun storage requirements in vehicles, yes, that does go into effect. Violators, if caught, again, going back to Neil’s point, if you’re caught and if they find this, and the way that would be found, by the way, is if all of a sudden your car is broken into and you report your gun stolen. You could have a $500 fine in that particular case. Now, this is one of those laws which, by the way, I think is really stupid because what’s going to happen is if, in fact, what I just explained happens, nobody’s going to report it. And some would say, well, they’ll trace it back to you. Yeah, fat chance. No, they won’t. So really, all this is going to do, in my opinion, this particular bill, House Bill 24-1348, is that instance of what I just explained a moment ago, those won’t get reported anymore. If you get broken into and your gun ends up missing, are you going to say anything? Not unless you’re a knucklehead. You’re just going to let it roll, not worry about it. Pay for it yourself. You won’t be able to turn it into your insurance company. So if you’re worried about that, you might want to go ahead and get a locked container just to have that because of what I said a moment ago. But this bill, by the way, when it’s all said and done, is going to do nothing but this law, I should say, will do nothing but discourage people from telling an officer what exactly happened in the break-in they had on their particular vehicle. That’s my opinion as to what actually will happen. Let’s do this, Charlize. Can we take a break? Let’s take a break real quick. We’ll get things dialed back in. Flesh Laws coming up next. 303-806-8886. Whether it’s civil or criminal, give Kevin a call today. Again, 303-806-8886.
SPEAKER 13 :
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SPEAKER 17 :
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SPEAKER 13 :
This is Rush to Reason on KLZ 560.
SPEAKER 17 :
All right, we are back. Dennis, what’s going on, sir?
SPEAKER 06 :
Hey, John, you might want to rethink not reporting your weapon being stolen because you didn’t store it right. Because if I remember correctly, you’ve got 48 hours to report a stolen or lost weapon, in addition to the improper storage. And I’ll bet these Democrats would make an example out of you.
SPEAKER 17 :
How would they know?
SPEAKER 06 :
When they find your gun and it comes back to you?
SPEAKER 17 :
Yeah, but again, I’m asking, how would they know? Because we don’t do registration. And I’m just being devil’s advocate. How is it coming back to you?
SPEAKER 06 :
I would assume through your background check.
SPEAKER 17 :
Because they have to record… And that may be true on one that you bought in the last several years, but Dennis, if you’re guys like you and I and you’ve owned one for decades, yeah, fat chance.
SPEAKER 06 :
True, and two of mine…
SPEAKER 17 :
were pre-owned weapons. Yeah, I’ve got some of those as well. And again, I’m just being devil’s advocate. I’m like, okay, just thinking out loud, if you didn’t report, and I get where you’re going with this, if you don’t report it, then you’re in trouble for not reporting. On the same token, if you report it, you’re going to get a $500 fine because you didn’t lock it in the car properly. So at the end of the day, most of us are probably not going to report that. I mean, I guess if it’s something you bought recently that you feel might be able to be tied back to you, that might be a different situation. But otherwise, Dennis, it becomes your word against the thief’s word.
SPEAKER 06 :
Well, and now you’ve violated two separate laws. True. You didn’t report your weapon being stolen, and you had it improperly stored. And again, I think they’d make an example out of you if they find your weapon.
SPEAKER 17 :
Yeah, and to your point, I think if it could be tied back to you, you probably have to really rethink some of what we’re talking about. I will say, though, Dennis, I think for a lot of individuals, especially if they know it’s a weapon that just doesn’t have a chance of coming back to them, I guarantee you most are not going to report it. They’re going to get the opposite effect out of this, is my point.
SPEAKER 06 :
And, you know, have you ever heard of On Patrol Live, the TV show?
SPEAKER 17 :
No, I haven’t. No.
SPEAKER 06 :
So what they do is they’re riding with eight or nine different police jurisdictions around the country. Okay. And it’s like cops, except it’s live in real time.
SPEAKER 17 :
Okay.
SPEAKER 06 :
And every gun they come across, they go to their computer and check the NCIC and… They know who owns that weapon and whether the person possessing it can have a weapon or not. So that’s part of where I’m coming from.
SPEAKER 17 :
And again, I’m not disagreeing with you, but how are they doing that on, for example, you and I, who I have weapons that have been acquired long before we had background checks and things along those lines. I mean, Dennis, it used to be a website even, sort of like a Craigslist for guns, where if you wanted to go meet somebody and buy a gun, sell a gun, whatever, it was called Gun Trader. It wasn’t a big deal. to do it was a really easy thing to make happen you know long before we have all of the nonsense laws we have right now you could acquire a gun at that point in time legally through meeting somebody in the target parking lot if you wanted to so how are they tracing those is my question again i don’t know if you have any law enforcement sources that might be a topic for your show Yeah, because, again, I don’t know. In the case of this particular TV show, I mean, I would think with different states, different type of registration and so on, yeah, New York City, some of what Joe was talking about even earlier in regards to how some of the East Coast states work, I could see what you’re saying happening. States like Colorado, where other than the last five, six years, how would they know?
SPEAKER 06 :
I’m not sure if that’s a law enforcement question.
SPEAKER 17 :
Okay. And it’s a great question because, honestly, Dennis, you bring up a great point, and I don’t know the answers to some of these. So I’ll let you go, though. You bring up a great point. Thank you for that very much. Joe, you’re next. Go ahead.
SPEAKER 04 :
John, there’s a few states like California where they do have gun registration, but in most states when they find a gun in a crime scene, what they do is they go back to the manufacturer and they say, which dealer did you ship this gun to? Then they go to the dealer. Maybe he’s closed. Anyway. And then the dealers have to keep their records for like 15 years. So assuming the gun dealer you bought it from is still in business. Around, but they’ll go to him and say, you sold this gun. You know, this gun was shipped to you by, you know, Smith & Wesson on this date in 2009, whatever. Right, right. You know, who did you sell it to? And he’ll go through his records, and he’ll supposedly, you know, it took him while he sold it to, John Rush, and then they’ll go to John Rush and say, you bought this gun from this gun dealer on this date. You know, what happened to it? And you can say, either I lost it or I sold it to somebody else. And if you sold it to somebody else, they’re going to ask you, who’d you sell it to? But they can, now it’s not an instantaneous process like your previous caller said, unless it’s one of those states that has a gun registration law. So typically it takes several days because they have to go to the manufacturer, then to the dealer, and then he’s got to go through his records. So it’s a multi-day process. But unfortunately, I’m in New Jersey where they’ve had that law for several years now. And unfortunately, John, I have one of those little tiny gun safes, which I have a steel cable that wraps around the seat post of my front seat. Got it.
SPEAKER 18 :
Got it.
SPEAKER 04 :
And, you know, if I – and unfortunately in New Jersey there’s a bunch of places I can’t take my gun. So you’ve got to put it in there. So what I do is before I get out of the car – I’ll put it in that little, it’s a little flat. It’s only about two inches high. Yeah, I have one.
SPEAKER 17 :
I know what it is, yeah.
SPEAKER 04 :
And it’s on a steel cable, and I’ll put it in there, lock it, slide it under the driver’s seat out of sight because I don’t want to be in a situation, because unfortunately my pistol that I carry with me, I bought in New Jersey.
SPEAKER 19 :
So it’s trackable.
SPEAKER 04 :
It’s very, very trackable back to me.
SPEAKER 19 :
Gotcha.
SPEAKER 04 :
So if you’re in Colorado and you’re, going to carry a gun in your car that you bought in the last 10 years. Be very careful.
SPEAKER 18 :
Yeah.
SPEAKER 04 :
Be very, very careful. And if you do, you know, if your gun is stolen and it wasn’t in the box, then I would highly recommend you report it because not report, I think the crime, the penalty for not reporting a stolen gun is worse than the crime for not having it in the lockbox.
SPEAKER 17 :
I’d have to go look that one up, but you’re probably correct.
SPEAKER 04 :
Yeah. So, but the other thing is to get, you know, get yourself a little, I think my little Hornady lockbox cost me like $49 and came with a steel cable. And you can either get the keyed version, or for $20 more, you get the one with the little four-key finger pad, you know, little four keys. You can put in 9,999 combinations in it.
SPEAKER 18 :
Got it.
SPEAKER 04 :
But, you know, unfortunately, that’s something I have to deal with. Again, if I go to a post office, John…
SPEAKER 17 :
I have to put my gun in the… So here’s really quick, and I know I’ve got other callers, so I’ll make this fast, but here’s the other caveat. So in Colorado, I just looked it up, you have five days to report that your gun was actually stolen, or you can have, it’s a civil infraction, $25 fine, and then a subsequent offense would be a misdemeanor punishable by a maximum of a $500 fine. fine uh so here’s just quick caveat car gets broken into you got five days to report it um when was it and where was it stolen joe well that’s yeah that’s good but at the same time if you don’t i mean did i leave it on the front step accidentally I mean, you know where I’m going with this? In other words, my point is all of these laws that the Democrats come up with that they fabricate really at the end of the day, there’s always a way around these stupid things, meaning they’re not doing anything in the first place.
SPEAKER 04 :
Right. Of course, if you go out into a parking lot like at the DIA and find your car window smashed— and you’re going to report that to your insurance company, then you might want to just… That might be different, yeah.
SPEAKER 17 :
In fact, if I were you, I’d just go get a window and not report it.
SPEAKER 04 :
That would be me. Yeah, particularly if you’re… Especially if you had a gun stolen. Yep, $1,000 deductible. Yeah. All right.
SPEAKER 17 :
No, good stuff, Joe. I appreciate it. Let me move on. Bill in Lakewood, go ahead.
SPEAKER 07 :
Hey, so if you got a concealed carry permit, does the gun still have to be locked up in the car?
SPEAKER 17 :
No. Well, if you’re leaving it in the car with you, not in the car, yes. If you’re just taking it with you because it’s concealed carry, no, it would not have to be. But if you parked and you went into the post office, for example, where you’re not allowed to have a gun, then yes, it would have to be locked up. Okay.
SPEAKER 07 :
Hey, I’ll have a report on you for your veteran’s window guy.
SPEAKER 17 :
Perfect. All right. Go ahead. Friday. Oh, perfect. On Friday. Okay, perfect. I’m looking forward to it, Bill. Great. Okay. Awesome, man. Appreciate you very much. Del, what’s going on, sir?
SPEAKER 05 :
how you doing guys good uh on mine most everything i’ve got one i don’t have i can’t buy a gun in colorado anyway because i don’t have a colorado id and i’m not going to pay their tax and have it shipped out of state gotcha you know so but everything i’ve got now my shotgun was bought Oh, remember days down on West Colfax? Yeah. Yeah, that was where it was bought, and they’ve been out of business for how many years now?
SPEAKER 17 :
A long time.
SPEAKER 05 :
Yeah, and my 357 was bought back in the 70s. Everything else I have has been bought from private owners.
SPEAKER 17 :
My whole point with this, Del, is just that, again, as always, the left is always trying to come up with ways that they think is going to protect the public when it’s all said and done, when at the end of the day it does nothing.
SPEAKER 05 :
Yeah, now what are they going to do about Averna? Or have you heard of it?
SPEAKER 18 :
A what?
SPEAKER 05 :
Averna, B-Y-N-E-R-A-N-A. It’s a non-lethal handgun that fires out CO2 and fires pure gas.
SPEAKER 17 :
It’s basically a chemical gun is what it is.
SPEAKER 05 :
Yeah.
SPEAKER 17 :
Yeah.
SPEAKER 05 :
And then there you go. You don’t even have to get a background check to get one of those.
SPEAKER 17 :
Yeah, because it’s not firing a projectile.
SPEAKER 05 :
Right.
SPEAKER 17 :
Interesting. Well, it is, but it’s a— Yeah, it’s not a lethal projectile, I guess you could say, right?
SPEAKER 05 :
Yeah, it’s kinetic energy with—you’ve got several different ones. You’ve got one that’s kinetic energy that’ll knock you on your rear end. Right. And then it has the pepper spray and tear gas.
SPEAKER 19 :
Interesting.
SPEAKER 17 :
Well, we will see how things go. Del, as always, I appreciate it very much. Before we go to the bottom of the hour, here is something that is happening as we speak. And this is, again, this is another one where I’m okay with this. I’ve talked about this enough on this show and Drive Radio on Saturdays, and that is all of these folks that are driving around that have either expired or non-registered vehicles. have no insurance, and yet they’re still driving around the same roads the rest of us are that pay properly to do that. Aurora, just Aurora right now, they have already now, because of the new law that passed in Aurora, they are impounding vehicles. In fact, they’ve impounded so far, the first 12 days of November, they impounded 52 cars. First 12 days. So what they do is they will impound the car if you have any of the things I just mentioned. So don’t have valid registration, insurance, or a driver’s license. They’re going to take the car. And I’m sorry, as much as that may hurt some individuals, I’m okay with that. The rest of us have to pay to drive correctly, and we are. So why should they not have to? And I still see on a regular basis vehicles with not just a few days expired. And I understand that part of it. You could be mailing in, you know, doing your registration online. Maybe the plates take a little longer to get there and so on. So I’m not talking, you know, a car that’s, you know, five to 10 days out. I’m talking cars that are 60, 90 a year out. And you guys see those all the time. And I’m talking not just on temp tags. I’m talking even the stickers on the plates. In Aurora, at least, they’re cracking down on that. And frankly, I think this should happen statewide. This is one of those areas that, yes, I am sick and tired of seeing cars that I drive around all the time that don’t pass muster in this area. Now, I don’t know if they have a driver’s license. I don’t know if they have insurance. But I do know the cars, you know, the tags are expired. Either temp tag hasn’t been, you know, handled correctly and it’s way overdue or the plates on the vehicle just period are expired. And it always cracks me up when I look at these and see it on vehicles that are very, very expensive in the first place. You know, I get the old clunker that’s out, okay? I can have a little more sympathy maybe in that area, although I don’t have much sympathy, period, because driving is a privilege, I believe. Not a right. It’s a privilege. Yes, movement in the country is a right. Movement by car is a privilege. And I know some of you sovereign citizen folks would argue with me on that one, but trust me, I’m right. You’re wrong. So in Aurora anyways, they already in the first 12 days of November impounded 52 cars to the point where they’re kind of starting to run out of room to place these. shows you how many of these are out running around. And I hate to say this, but I’m going to. A lot of this ties into the illegal immigration problem we have in Colorado right now. I’m just going to say it straight up. That’s exactly where some of this is coming from. They don’t have a license because they can’t get one. They’re here illegally. They can’t get insurance for whatever reason. And they may have had a temp tag to start with because when they bought the vehicle, they got it because none of this has to apply at that point in time. And then they just let the thing ride out. Those are the individuals, by the way, I have no sympathy for. I’m sorry. You came to this country. You know what goes on in this country. And I get it. You’re trying to irk things out and so on, but you didn’t do it legally. These are the consequences. And in this case, your car gets towed and gone and you’ll probably never get it back because some of these people won’t be able to afford to get it out of impound. I’m not losing any sleep or crying any tears over this one, folks. Most of you aren’t either. So. All right, I’ll leave it at that. Scott Garlis should be joining us here in just a few minutes. We’ll get an update on what’s going on with Wall Street and the markets after the Thanksgiving weekend. Hi-Fi Plumbing is next. Don’t forget they do electrical as well. 877-WE-HIGH-5.
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SPEAKER 16 :
Now, back to Rush to Reason, presented by High Five Plumbing, Heating, and Cooling, where every call ends with a high five.
SPEAKER 17 :
All right, we are back. Rush to Reason, Denver’s Afternoon Rush, KLZ 560. Scott Garlis joining us now. Scott, welcome. How are you, sir?
SPEAKER 08 :
Hey, John, I’m well. How are you today?
SPEAKER 17 :
Good. Always a joy to hear from you. Talk to us about Wall Street, the Fed. There was a little bit of information from Powell today. Give us an update.
SPEAKER 08 :
Yeah, yeah. Basically, Powell did a fireside chat. One of the things he talked about was he said, hey, look, job growth is holding up a little bit better, or economic growth is holding up a little bit better than we expected. Inflation is coming down. It’s just a bumpy path. And he said, but, you know, these things are good developments because they afford the Fed luxury jobs. to be the luxury of possibly being patient with what they’re going to do in terms of returning interest rates to neutral. But, you know, the more important part of that was he said interest rates are still headed lower. So there’s been a ton of speculation around whether or not the federal cut rates. And what Powell, and the way I hear these things is what he said was, even if we weren’t to cut rates in December, we’re still going to keep cutting rates going forward.
SPEAKER 18 :
Got it.
SPEAKER 08 :
So, Bottom line to me is that’s good for the domestic economy, and that’s good for stocks.
SPEAKER 17 :
Okay. And I, by the way, some of the things I’ve read, I would kind of read between the lines the same way that you are. I would anticipate no cut in December, but I would say as you head into 2025, you’ll see additional cuts. How often, how much, that I don’t have an answer to, but you’ll see that in my opinion.
SPEAKER 08 :
Yeah, you know, so I think they’re going to cut in December. One of the more hawkish governors was a board member, Chris Waller. He came out of the St. Louis Fed. He was the head of their economic research team. He just spoke the other day, and he was making the case for another rate cut in December. And I was a bit surprised by that. But the fact that he was saying that, that tells me they’re definitely leaning in that direction. But even the more hawkish people are still saying rates need to come back to neutral. The only person that has really made a case for what they think neutral is right now is Mary Daly in San Francisco. And she said that level was 3%. So if we think about where rates are right now, they’re about, uh, I want to say, is it 4.9%? Yeah. Yeah. So, I mean, that’s, that’s, let’s say 160 basis points or 1.6 percentage points were the downside. And if we’re cutting it, say, 25 basis points a meeting, that means we’re talking six or seven more meetings worth of rate cuts.
SPEAKER 17 :
Yeah, we’re a year and a half out at least to even get there.
SPEAKER 08 :
Yeah, so that’s before she thinks we’re going to hit neutral. Now, another person that recently spoke, gosh, was Austin Goolsbee. He’s the Chicago Fed president. He becomes a voting member of the FOMC next year because of the annual rotation that goes on. He’s saying we should cut 25 basis points in December and then another 100 basis points next year.
SPEAKER 18 :
Okay.
SPEAKER 08 :
So that would take rates down to like the 3.5-ish, 3.75%.
SPEAKER 17 :
By the way, I’m one, and you know my feelings on this, Scott. I think to get the housing market back, even get car sales where they need to be and so on, I feel like you need to get down into that. you know, three, three and a half percent range, because then you’re going to get some of those other rates, most likely down into the, you know, mid fives, if you would. Car loans can vary off of that lower or higher, depending upon the participation level of, you know, the funding institution, the dealer or whatever, trying to make the deal work. But at the end of the day, you start getting the housing, you’ll get mortgages, 30 year mortgages down in that five and a half range, and maybe even get a 15 year down into the high, you know, mid to high fours, you’ll start moving some houses.
SPEAKER 08 :
Yeah, you know, there’s a builder I really like. It’s funny you bring this up. Skyline Champion, SKY is their ticker symbol. And I think we’ve talked about this before, but they basically build pre-built homes, like modular almost. Right, right. And they’re really affordable for people. You know, their high-end houses are a really nicely built house. I think they charge like $150,000. But they basically, all they need is the foundation in place, and they can put it right on top of the foundation.
SPEAKER 17 :
Nice, nice.
SPEAKER 08 :
And yeah, I mean, so, you know, I don’t know where those communities are built per se in terms of vicinity like cities, but people in those communities, people can get in houses at a really reasonable price. So I think that companies, you know, what their product is going to become more and more attractive as people look for affordability and that stock’s going to keep going up. What is it again? SKY.
SPEAKER 17 :
SKY.
SPEAKER 08 :
Skyline. Yeah, Skyline Champion.
SPEAKER 17 :
Okay, perfect. In regards to just overall economy, you know, we’ll have an inauguration here in, well, it’s a little over a month away, roughly, what, 45 days or so from now we’ll have an inauguration. There’ll be a big regime change. We’re going to have different people appointed to a lot of the different three-letter agencies. How is Wall Street responding to a lot of that scuttlebutt that’s going on in regards to the heads of those agencies?
SPEAKER 08 :
Yeah, so some of the things, like they liked that Matt Gaetz withdrew his name because the way that Wall Street’s looking at that is, so coming into the election, I think we’ve talked about this too, that it was Committee for Responsible Budget. I think that’s what it’s called. It’s a bipartisan group. They said Kamala was going to create $3.5 trillion in deficit spending if she lives up to her promises, and Trump would create $7.5 trillion. But things like what’s going on with Gates, and then there was somebody else, I think they’re saying they had six people that said they wouldn’t vote for him. Wall Street’s looking at that and saying, okay, what that tells them is, that no matter what budget the president wants to put out there, it still has to go through congressional approval, and in particular, it has to go through the Senate. And the Senate may not be as willing to have crazy deficit spending because they’re already, I want to say there are like five to seven of them that have said, hey, look, there have to be offsets for the spending you want to do. So Wall Street’s looking at that and saying, okay, wait a second. You know, even though we have Republican control of the House, the Senate, and the White House, they’re seeing that and they’re saying, wait a second, there’s more fiscal responsibility that’s probably going to happen here. And so that’s going to start dropping bond yields. We’re already seeing it with the 10-year. Since the election, it has come back from, I want to say, like 4.5% back down to 4.2%. And that’s a big deal because the 10-year yield is used as a benchmark for for a lot of the lending that goes on in this country.
SPEAKER 19 :
Correct.
SPEAKER 08 :
And then so if we do see this fiscal responsibility, yields will come in even more. And then if we see rate cuts on top of that, that’ll drive borrowing costs even lower.
SPEAKER 19 :
Gotcha. Gotcha.
SPEAKER 08 :
So in Wall Street’s mind, that’s a really good thing for companies everywhere.
SPEAKER 17 :
When it comes to energy, and one of the things I was going to mention today with you coming on was I read an article today talking about how Saudi Arabia and a lot of those cartel countries, if you would, don’t have the foothold on the oil industry they once did. In fact, they’ve asked Saudi Arabia, are you guys going to produce more oil, flood the market, try to do what you did back in the 2020 era where you tried to crush American oil and so on? And they basically have said, yeah, no, we’re probably not going to go down that path again. I think what’s really happened, and Scott, you and I have talked about this multiple times in the past, reality is I think finally, The Saudis and others have realized that, oh, wait a minute, America is producing 13 million barrels a day and probably have the capacity to do 18 to 20 if they really get things rolling along. We probably ought to play our cards right or we’re liable to get shut out of this thing. You know, not completely, but we may not be selling any oil over there, period.
SPEAKER 08 :
Well, you know, I think that’s right. I think they realize like, hey, if we. Everybody plays nice in the sandbox. We stand a better chance of keeping prices up instead of getting completely devastated.
SPEAKER 17 :
Yeah, and point being, did we ever think in our lifetime we’d ever see the Saudis do that?
SPEAKER 08 :
No, never. Never. I mean, again, it’s like – and I get we buy oil from other countries in the world because – It helps maintain relationships and keeps money going to them.
SPEAKER 17 :
Yeah, and some of it’s our refinery capacity. We have sweet crude that not every refinery in the country can do. That’s part of our other problem we have, which that’s a whole other conversation.
SPEAKER 08 :
Yeah, yeah. But I think if the Saudis and the U.S. work better together on stuff like this, and I don’t think there would be price fixing, but just a better relationship, and that might help stabilize prices more. I think it would stabilize prices at a level lower than here. I think the Saudis have to have at least $50 a barrel is what they’re looking for to make things work for them.
SPEAKER 17 :
Yeah, and I think, again, I’ve said this before, the Saudi family is big. They like to live large. I mean, these are guys that don’t drive Toyota Corollas. They drive Lamborghinis and Ferraris. So the reality is they’re used to driving not a $25,000 car but a $250,000 car. And, no, I’m not exaggerating when I say that, and that might be on the cheaper scale of things. Scott. So point being is, you know, they want to see oil up in that, you know, 70, 75 dollar range. And it may not be that way forever. If we start pumping more, it could drop down into the 60 dollar range. But they like seeing it up there because they got a lot of mouths to feed.
SPEAKER 08 :
They do. Not only that, but the Saudi government gives a lot of money to its people to keep them pretty happy. That’s right. And so they do not want to see a collapse in oil prices.
SPEAKER 17 :
That’s right. So it’ll be interesting to see what happens. I didn’t check oil today. I guess I could do that relatively quick. 68.76. OK, so it’s under 70 today. So we’re now down into the sixes. And again, part of that also, and I want to talk to you about this as well, Scott, is, you know, the demand in China, you know, China just isn’t doing very well. In fact, when Donald Trump gets inaugurated and does some of the things he’s talking about with tariffs and so on, they’re liable to actually do worse, not better. I mean, they’ve got to be, for lack of better words, shaking in their boots because they do not like their future given, you know, given a Donald Trump presidency. Am I right or wrong?
SPEAKER 08 :
No, no, you’re exactly right on that. They don’t, and that’s why they’re trying to do everything they can with Russia and Iran now. But, yeah, it doesn’t, I mean, Chinese demand, it looks like it’s struggling, and I don’t see that getting better any time soon.
SPEAKER 17 :
No, I don’t either. I mean, they’ve got a real financial crisis. They’ve got a housing crisis. They’ve got a commercial property crisis. I mean, the reality is they have propped some of that stuff up for so long that, you know, literally, I’m not exaggerating when I say that, it’s crashing down right now.
SPEAKER 08 :
Yeah, you know, and I don’t think China can be excited. I think there was news out today that Trump said Peter Navarro is going to be his chief trade advisor. Now, that doesn’t mean he’s going to be the U.S. trade representative, but it sounds like he’s going to be back in the White House giving advice on what to do from a trade standpoint. And Navarro is definitely anti-China.
SPEAKER 17 :
Well, and I think we already know that a lot of the folks that Donald Trump is appointing to these three little agencies, not that they have a lot of effect upon what happens China-wise, but a lot of these folks are in that same camp. So what I think China’s really – I know I’m speaking for them, but I think what their biggest concern is is not only is the president of the United States against them and what’s been going on, the majority of the people that he will surround himself with and they’ll be in charge of a lot of these agencies are as well.
SPEAKER 08 :
Yeah, and so the other interesting part of that, too, to me is we’ve talked about this a bit, too, that Europe has really woken up to a lot of the stuff that’s going on there, too.
SPEAKER 17 :
Good point.
SPEAKER 08 :
And they’re getting tired of China. I was reading an article in The Wall Street Journal either yesterday or today about they’re getting fed up, a lot of other countries are, with China just producing all these cheap goods, trying to re-ramp their economy, and dumping them onto the other markets. And countries are starting to say no mas, and… You know, I think that’s a very direct, I don’t know if consequence is the right word, but it’s a very direct outcome of Trump’s first presidency. I think he woke everybody up to this eight years ago. And now I think we’re going to see the next stage of that that would have happened in the past four years. really accelerate in these next four years.
SPEAKER 17 :
I agree with you on that. And again, that’s why I would say that I think China is literally shaking in their boots. They did not want it. Well, frankly, Scott, and I’ve said this publicly, I think China did everything they possibly could to make sure that the other side won. They interfere in every election they possibly can. This one was no different. They did not want Donald Trump winning and being president a second term.
SPEAKER 08 :
Yeah, no, I think you’re right. I think that’s also why we’re really starting to see this separation gap between U.S. stock markets and the rest of the world. And I think that could keep going, because if you think about the numbers, and the estimates may not be there at the moment, but the revenue potential, if we see a lot more business come back to the U.S. because of all these policies, and because rates start going down and borrowing costs get cheaper for households and companies, you know, I would look to own small cap stocks in particular because 80% of their revenues come from the U.S. I would look at an ETF like the Vanguard Russell 2000 Index Fund. The ticker symbol is VTWO, and that copies or tries to mimic the Russell 2000 Index, which is a small cap index.
SPEAKER 17 :
Got it. Okay, good to know. Yeah, and okay, one last question before I let you go. Bitcoin, I mean, the crypto world is just on fire. I’m not a huge believer in it. You and I have had those conversations. Maybe it has its place. My biggest fear with it is it’s literally backed by nothing other than faith. I understand that that’s true with a lot of other investments and things that people put money into as well, but the whole crypto thing literally as an investor scares me to death, and I know there’s a lot of people out there that probably have made a lot of money doing it. I’m not one of them, but what are your thoughts on that?
SPEAKER 08 :
If you want to be involved in Bitcoin, to me, the other tokens get way too complicated for me. I think if you want to be involved in crypto, I would buy Bitcoin or Ethereum. And I personally wouldn’t let it be more than 5% of my portfolio when I invest. Now, if it grows into something more, that’s fine. But in terms of the money I would put to work, I wouldn’t put more than 5% because if it gets wiped out to zero, I can stomach losing that because I’m going to be doing all right.
SPEAKER 17 :
Good point.
SPEAKER 08 :
Good point. Great.
SPEAKER 17 :
Good point. All right, Scott, how do folks get a hold of you?
SPEAKER 08 :
Yeah, sure. Come follow me on Twitter or on LinkedIn. See Scott Garlis.
SPEAKER 17 :
Scott, always a joy talking to you, sir. Appreciate you. John, thanks so much for your time. You bet. Have a great night, sir. Affordable interest mortgage is next. Speaking of rates, where are things going? Kurt has a pretty good handle on this when it comes to the mortgage side. If you have any questions at all, please call him, 720-895-0500.
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SPEAKER 19 :
It’s time to leave your safe space.
SPEAKER 17 :
This is Rush to Reason on KLZ 560. All right, don’t have a lot of time here before we close things out, but let me end with people are dumb. Residents… This is down south, by the way, are voicing concerns about a second Buc-ee’s location here in Colorado. It’s already in the planning stages. It’s down around the Palmer Lake area, which, by the way, is kind of in the middle of nowhere. And they want to go ahead and put one in. Keep in mind, Buc-ee’s starting pay for most of the people that work there is $20 an hour. So they pay their people very well. It’s a very nicely run facility. If you go to any of them at all, you know exactly what I mean by that. They held a public comment meeting at Palmer Lake Elementary School last night. More than 300 residents attended, many to oppose the idea of the Buc-ee’s building in town, which, by the way, these are just flat out knucklehead residents. I mean, these are people that don’t understand basic economics as to how things work and who pays for what. So this particular property, by the way, that’s been zoned commercial since 1955, they intend to build on. And I get it. You still have to go through all the public nonsense and so on. But I’m a property rights owner advocate. If this property’s been zoned commercial since 1955 and Buc-ee’s wants to build on it, let them. And if you’re a resident of the area and you don’t like it, move. Yeah, I just said that. If you don’t like it, move. I get so tired of residents not understanding… what type of empty property around them is zoned in what way, and then they get mad when a commercial property starts to get developed, especially when it’s been that way since 1955. I have zero, zero sympathy. You should have checked all of that prior to moving in to wherever it is you move. So my feeling is if you don’t like it yourself, then move. Whoever the property owner is, and if they’ve got the ability to sell to Bucky so Bucky’s can build, they should have that ability to do so. So I’ll leave it with that, guys. Enjoy your evening. Stay safe out there. Rush to Reason, Denver’s Afternoon Rush, KLZ 560.
