Alabama's Morning News with JT
Jay Ratliff loves stocks and planes
Jay Radlow from daytradefund.com is joining us now to talk a little bit more about what's happening with the economy here and whether or not the inflation numbers are going to start to come down a little bit with the feds up to. Jay, welcome in. Thank you so much for being here. Hey, pleasant, pleasant, good morning. Well, I got to tell you the inflation to me in my own home still feels like it's a problem here and we've got prices everywhere through the roof and people's credit cards are getting further and further in debt, digging into savings and, you know, we've talked about it before. There's others on the sidelines going, "Nah, we're looking good. We're moving in the right direction. Employment numbers are pretty good." So we're expecting a report coming up Friday, I guess, could make the feds decision a little easier on, you know, the future rate cuts or not. True. In fact, it's the core personal consumption expenditure price index. It's the PCE and this is a report that Jerome Powell, the Fed Chair and others look at as they're kind of their preferred inflation gauge, if you will, kind of narrows things down. And they're expecting that core to rise a little bit month over month and year over year. But they're thinking that the increase is going to be slower than what it's been in the past, which means that we are slowing down on inflation and they're going to look at that as good news. And of course, I think tomorrow we've got estimates with regards to the estimates for the first quarter of the GDP, the gross domestic product growth for the country. And all this information is going to be used by the Fed as they decide when are we going to consider cutting interest rates. And of course, we came into this year with a lot of analysts and you and I made fun of them saying that this year was going to be the year that we were going to see five or six massive rate cuts and we're thinking, the Fed's hoping for three, where are they going? And now we're at a point where we're hoping for one and they're thinking maybe September, but a lot of this inflationary data that's going to be released this week is going to be part of the process of what the Fed's going to be looking at to make that determination as far as when the next interest rate cut, if you will, may finally take place. Well, there's a lot of finger pointing going on, some people are actually blaming the Fed for higher inflation over the failure to act and do more. This is the same group of toddlers that didn't get their way because of not getting the massive rate cuts and JT, they're jumping up and down and they're screaming that, okay, the reason that the inflation is not going down is because the Fed's not doing their job. Excuse me, the reason we don't have runaway inflation right now is because the Fed is doing their job. They're very deliberate, they've learned from the mistakes of the past, even though they will say there's no real comparison between now in the 70s, I'm sorry there is, as far as I'm concerned, and the Fed's made it clear that their goal is to stay ahead of inflation. And you think this is bad, you and I know from history how it has been way worse in decades past and once you get behind inflation, JT you simply can't get in front of it. So I think the Fed's doing a very, very good job and I think that the evidence certainly supports that. So when they say they're going to remain patient and continue following the proven game plan that they've had, then I am totally in agreement with that and I'll certainly acknowledge a job well done. Yeah, well I'm sure that you and Sherry, just like Judy and I will be watching the debate tomorrow night and the economy one of the biggest important issues with the voters this year and every year it seems, and Joe Biden will certainly tell the fact that, oh, we've got the economy moving in the right direction again. And yeah, and then here comes Donald Trump with the reality of all of this. How do you think that's going to fly and which one will have the greater points that can be made? Well, I mean, obviously, I think President Trump will just based on what he did in office compared to what's happened under Joe Biden. I just wish that an audience would be allowed in there because I would love to hear the moans and the groans from some of these individuals even though it's going to be moderated by the people that are more pro-Biden than pro-Trump. But I think that when you have two presidents, one former, one current debating, I think it's going to be fascinating from a historical standpoint. And I think if each, you know, stays point on, I think there's no way that Joe Biden has anything to stand on as far as what we've been able to accomplish because they've done nothing other than things going down. And, you know, I think one of the interesting things will probably be Biden talking about how he's becoming more and more border focused now where he's doing more, which is obvious just, well, I've got to do it because I've got to do something to talk about. So I'll do it. It's just a joke. And for people that are worried about the border security, they're worried about inflation, they're worried about a lot of things that have to do with the security of this country, we're not happy with what's going on right now. And I just hope that we can, Donald Trump sometimes can be theatrical in a lot of things that he does. And I just hope that he is spot on with points and makes his point shut up. And let's watch Biden because grab your popcorn. Who knows what's going to happen? Yeah, I would say if it wasn't so dang hot, everybody pull, you know, raise your window so we can hear the reaction of American people because a lot of people are going to be watching this debate. You're going to have a fun show on Friday, my friend. Oh, my gosh. I know that for a year. Feel free to call in. I may even call you anyway. Just for your thoughts on that. Hey, before I let you go, a couple of crazy airline stories. First of all, I don't know if you saw this, this flight to Korean air 189, which was a Boeing 737 max eight, all of a sudden, here we go, dropping out of the sky and 20,000 feet. What? Like roughly, you know, what, how many different times, eight minutes, you know, dropped numerous times. Well, it had to because they had a problem. They were they were into the flight. I think they were 50 minutes into their flight. And they had a pressurization system warning that that reported and it triggered the alarm. So when you're at altitude, then you've got to get that aircraft to 10,000 feet or under because from a pressurization standpoint, if you're going to lose pressurization, you've got to get that aircraft down to where it's not going to be a problem. So you have to go from cruising altitude, which could be 35,000 feet or more and have it drop a lot to get under that. Now this aircraft actually dropped to 27,000 feet over 15 minutes, injured 17 people in the process with that. Now it wasn't plummeting straight down, obviously, but as they were doing, they had all kinds of problems with, again, if it's pressurization, you have people with their ears and other types of things that could be reporting problems. They're trying to find out now through the investigation what the cause of this pressurization malfunction was. And yes, since it was a Boeing MAX aircraft, it's going to get even more attention, but we'll see what happens. Some of this is a mechanical situation. Some of this in the past have been tied to pilot air. Now you'd have to really do a lot of things wrong for that to be the case, so I'll be interested to see what the report indicates to happen. All right, quickly talking about pilots. I saw one was fired for flying with two airlines at the same time. That's a no-no. Right. I'm not allowed to do that, but this was a pilot that was flying at the time, she was flying with Malta Airlines and also flying with Virgin Atlantic. Now Malta was her main carrier, and during her days off, she just went and worked for another carrier. You're not allowed to do that because you're only allowed to fly so many hours a month. So when she would max out, she'd simply go to another airline and fly more. It's like the Department of Transportation has rules on how many hours a truck driver can drive. It's the same sort of thing around the world with pilots, and you can't pick up hours on another airline. She was fired from Virgin Atlantic when they found out. Malta found out and said, "Well, we're just going to discipline her. We'll put a note in her file and she can keep flying for us." But yeah, first time I've heard of a pilot trying to, you know, moonlight is another pilot on another airline. Trying to make ends meet and pay for those groceries. I mean, it's cool. Yeah, I guess it's biting in, biting economics reaches all the way over there on the globe. Right. I appreciate you, Jay, and we'll talk soon.