WEBVTT 1 00:00:00.520 --> 00:00:04.000 You're listening to KFI AM six forty wake Up Call 2 00:00:04.120 --> 00:00:08.560 with me Amy King on demand on the iHeartRadio. 3 00:00:07.799 --> 00:00:21.679 App KFI and kost HT two Los Angeles and Orange County. 4 00:00:21.000 --> 00:00:25.559 And aged Amy. 5 00:00:25.719 --> 00:00:36.920 Okay, it's five o'clock, straight up, good morning. This is 6 00:00:36.960 --> 00:00:41.479 your wake up call for Thursday, August fifteenth. I'm Amy King. 7 00:00:41.960 --> 00:00:47.640 We're live everywhere on the iHeartRadio app. We're halfway through August. 8 00:00:48.640 --> 00:00:51.759 It's the fifteenth. Do you know what that means? Four 9 00:00:51.759 --> 00:00:56.079 months and ten days until Christmas. Don't want to freak 10 00:00:56.119 --> 00:01:00.600 out or anything. Also very excited today Emily in Paris. 11 00:01:00.640 --> 00:01:04.359 The new season is out, except Netflix is doing what 12 00:01:04.439 --> 00:01:09.000 Netflix does. They released half of the season, so apparently 13 00:01:09.000 --> 00:01:10.920 the next half comes out in a little bit. They 14 00:01:10.959 --> 00:01:13.480 did the same thing with Cobra Kai. The first half 15 00:01:13.480 --> 00:01:15.920 of Cobra Kai is out. I binged it and I went, wait, 16 00:01:15.959 --> 00:01:18.159 this season's not over yet, and then I googled it 17 00:01:18.200 --> 00:01:20.879 and said, the second half of the season comes out later. 18 00:01:23.040 --> 00:01:25.920 Still excited. I feel a binge coming on with Emily 19 00:01:25.959 --> 00:01:28.319 in Paris. Such a cute show. Here's what's ahead on 20 00:01:28.400 --> 00:01:31.560 wake Up Call. The La City Council is voted unanimously 21 00:01:31.599 --> 00:01:34.840 to move forward with a plan to identify areas where 22 00:01:35.000 --> 00:01:37.799 r vs would be banned in a move to address 23 00:01:37.840 --> 00:01:41.760 the proliferation of people using them as housing across the city. 24 00:01:42.079 --> 00:01:44.359 The council also voted in favor of a motion that 25 00:01:44.400 --> 00:01:47.680 calls for a citywide program to prohibit RV parking in 26 00:01:47.760 --> 00:01:52.159 residential areas, commercial corridors, and other areas. Israel has sent 27 00:01:52.200 --> 00:01:55.120 a delegation to Qatar for ceasefire talks in the Israel 28 00:01:55.159 --> 00:01:58.519 Hamas war in Gaza. Hamas said it will speak to 29 00:01:58.599 --> 00:02:02.319 mediators after the talks if there are serious developments. The 30 00:02:02.359 --> 00:02:05.760 potential for an attack by Iran comes after the country 31 00:02:05.920 --> 00:02:08.960 vowed to avenge the deaths of Hesbolah and Hamas leaders. 32 00:02:09.520 --> 00:02:13.800 Drivers in California could soon be paying double for car insurance. 33 00:02:14.360 --> 00:02:18.000 The company Insurifies, predicting that insurance rates will soore fifty 34 00:02:18.039 --> 00:02:22.120 four percent before December. They blame damage from severe storms 35 00:02:22.159 --> 00:02:25.759 and wildfires. Maryland drivers are currently paying the most for 36 00:02:25.840 --> 00:02:29.479 full coverage car insurance, averaging thirty four hundred dollars a year. 37 00:02:30.199 --> 00:02:33.080 The Dodgers are in Milwaukee to take on the Brewers, 38 00:02:33.240 --> 00:02:36.680 but Mookie Betts is not staying with the team because 39 00:02:36.680 --> 00:02:37.599 he's a scaredy cat. 40 00:02:37.680 --> 00:02:38.439 You're going to love this. 41 00:02:38.879 --> 00:02:41.080 It's coming up before the bottom of the hour, and 42 00:02:41.120 --> 00:02:43.280 then right after the bottom of the hour, wake up 43 00:02:43.280 --> 00:02:45.919 call is going out and about to Long Beach for 44 00:02:45.960 --> 00:02:49.080 a little walking, a little learning, and some really great food. 45 00:02:49.080 --> 00:02:50.080 You're not going to want to miss that. 46 00:02:50.159 --> 00:02:52.800 At six oh five, it's handle on the news. Months 47 00:02:52.800 --> 00:02:56.199 after protesters took over the campus of Columbia University in 48 00:02:56.280 --> 00:03:00.680 New York, the president has called it quits. Let's get 49 00:03:00.680 --> 00:03:02.159 started with some of the stories coming out of the 50 00:03:02.240 --> 00:03:03.840 KFI twenty four hour newsroom. 51 00:03:04.000 --> 00:03:04.159 R V. 52 00:03:04.319 --> 00:03:07.000 Homeless camps in Los Angeles could soon be banned from 53 00:03:07.039 --> 00:03:07.960 certain parts of the city. 54 00:03:08.039 --> 00:03:10.039 The city Council was voted to have city staff create 55 00:03:10.080 --> 00:03:12.199 a new policy if that would keep our vs away 56 00:03:12.199 --> 00:03:16.360 from residential areas, business districts, schools, libraries, and parks. Councilman 57 00:03:16.439 --> 00:03:18.879 Tracy Park shot down a suggestion that the council should 58 00:03:18.919 --> 00:03:20.759 slow down and study the issue instead. 59 00:03:20.879 --> 00:03:24.520 The last thing we need is another committee, another commission, 60 00:03:24.800 --> 00:03:29.199 or another task force over multiple years to tell us 61 00:03:29.520 --> 00:03:30.719 what we already know. 62 00:03:30.919 --> 00:03:31.400 Park says. 63 00:03:31.400 --> 00:03:34.039 With the Supreme Court ruling allowing homeless camps to be moved, 64 00:03:34.159 --> 00:03:36.719 LA needs to be ready for other cities, possibly sending 65 00:03:36.719 --> 00:03:38.599 their homeless here in downtown La. 66 00:03:38.719 --> 00:03:40.360 Michael Monks KFI News. 67 00:03:40.520 --> 00:03:43.319 An eight point five million dollar project to repair a 68 00:03:43.400 --> 00:03:47.080 one hundred foot long sinkhole that split a condo complex 69 00:03:47.080 --> 00:03:50.280 in Lahabra can finally start after five years. 70 00:03:50.400 --> 00:03:52.400 A greenbelt that should not have been built over a 71 00:03:52.439 --> 00:03:55.840 storm drain that cuts under Coyote Village complex collapsed under 72 00:03:55.840 --> 00:03:58.840 heavy rains in twenty nineteen, then grew even bigger during 73 00:03:58.879 --> 00:04:00.000 record rainfall last year. 74 00:04:00.120 --> 00:04:00.280 Year. 75 00:04:00.479 --> 00:04:03.360 State Senator Josh Newman says the state funding he secured 76 00:04:03.400 --> 00:04:06.400 for repairs has been stuck in litigation since twenty twenty two. 77 00:04:06.479 --> 00:04:09.520 The city was very wary of taking on a liability 78 00:04:09.919 --> 00:04:13.120 and the hallowners Association couldn't figure out why if the 79 00:04:13.159 --> 00:04:15.000 state had the money, what was taking so long, so 80 00:04:15.479 --> 00:04:17.199 lawyers got involved in At the end of the day, 81 00:04:17.199 --> 00:04:18.360 the lawyer's finally figured it out. 82 00:04:18.439 --> 00:04:21.720 He says. Repairs will start today in Lahabra, core beIN Carson, 83 00:04:21.800 --> 00:04:22.439 k if I News. 84 00:04:22.560 --> 00:04:25.680 Biden administration says it has reached an agreement with pharmaceutical 85 00:04:25.720 --> 00:04:29.480 companies to lower the prices of the ten most expensive 86 00:04:29.519 --> 00:04:34.079 medications covered under Medicare. The meds include heart and diabetes drugs. 87 00:04:34.199 --> 00:04:36.800 The prices are expected to drop starting in twenty twenty six. 88 00:04:37.279 --> 00:04:40.800 President Biden says the latest inflation rate is proof his 89 00:04:40.920 --> 00:04:44.279 policies are working. Inflation has fallen below three percent for 90 00:04:44.319 --> 00:04:45.920 the first time in three years. It dropped to two 91 00:04:45.959 --> 00:04:49.480 point nine percent for July. Biden was asked about it 92 00:04:49.560 --> 00:04:52.759 yesterday during a Creator Economy conference at the White House. 93 00:04:52.879 --> 00:04:54.560 I told you're going to have a soft landing. We're 94 00:04:54.560 --> 00:04:56.680 going to have a soft landing. My policies are work 95 00:04:56.720 --> 00:04:58.160 and start writing that way. Okay. 96 00:04:58.639 --> 00:05:01.839 The cost of used cars, trucks, medical care, and airfares 97 00:05:01.879 --> 00:05:03.519 were all down last month. 98 00:05:03.959 --> 00:05:04.639 I don't know about that. 99 00:05:04.680 --> 00:05:07.079 Every time I check airfares they seem sky high, but 100 00:05:07.160 --> 00:05:09.839 people keep telling us they're going down, So maybe I'm 101 00:05:09.879 --> 00:05:11.079 just going to the wrong places. 102 00:05:11.600 --> 00:05:13.160 NASA says a decision. 103 00:05:12.839 --> 00:05:14.480 Will be made by the end of the month on 104 00:05:14.639 --> 00:05:18.079 how and when the astronauts stuck in space will come home. 105 00:05:18.879 --> 00:05:22.480 Butch Wilmore and Sunita Williams have been on the International 106 00:05:22.560 --> 00:05:25.079 Space Station since June sixth. It was supposed to be 107 00:05:25.120 --> 00:05:28.199 a one week trip, but problems with the Boeing Starliner 108 00:05:28.279 --> 00:05:31.759 have delayed their returns. If the Starliner can't bring them home. 109 00:05:32.959 --> 00:05:35.040 SpaceX Rocket will have to go get them, but that 110 00:05:35.079 --> 00:05:38.639 wouldn't happen until February. Right now, let's say good morning 111 00:05:38.680 --> 00:05:43.439 to the editor in chief of Investopedia ABC's Caleb Silver. 112 00:05:43.519 --> 00:05:46.040 Good morning, Caleb, good to be with you. 113 00:05:46.639 --> 00:05:49.120 Year over year, inflation was up, but it was the 114 00:05:49.160 --> 00:05:50.959 lowest rise in three years. 115 00:05:51.120 --> 00:05:54.279 So my question is are we there yet. 116 00:05:55.240 --> 00:05:58.279 We're getting closer and closer to this two percent target, 117 00:05:58.279 --> 00:05:59.759 but I don't know if we'll ever get there because 118 00:05:59.759 --> 00:06:02.439 we see price increases over the last four to five 119 00:06:02.519 --> 00:06:04.720 years in the areas where it's just hard to see 120 00:06:04.720 --> 00:06:07.279 them ever coming down. Think about car insurance, think about 121 00:06:07.279 --> 00:06:09.920 food cost shelter costs. These are the big contributors to 122 00:06:10.040 --> 00:06:12.399 inflation over the last several years. And yes, we've come down, 123 00:06:12.439 --> 00:06:14.439 we've come way down from those highs of eight percent 124 00:06:14.720 --> 00:06:17.199 a couple of years ago, but it's been a slog 125 00:06:17.439 --> 00:06:20.079 through very high interest rates. Good news though interest rates 126 00:06:20.120 --> 00:06:22.680 should be coming down in September. The question is now 127 00:06:22.720 --> 00:06:25.279 how much? And that should you know, relieve some pressure 128 00:06:25.319 --> 00:06:27.879 on people who are borrowing or thinking about borrowing to 129 00:06:27.879 --> 00:06:29.079 buy a house or a car something. 130 00:06:29.399 --> 00:06:31.160 Okay, and you mentioned car insurance. 131 00:06:31.160 --> 00:06:34.199 I just did a story that they're expecting insurance rates 132 00:06:34.199 --> 00:06:36.000 to go up, like car insurance rates to go up 133 00:06:36.079 --> 00:06:38.879 fifty four percent by December in California. 134 00:06:39.439 --> 00:06:40.319 I mean, it's just crazy. 135 00:06:40.399 --> 00:06:42.720 It's brutal, and they're already pretty high. They're already more 136 00:06:42.759 --> 00:06:45.319 than thirty percent in some areas around the country, California 137 00:06:45.360 --> 00:06:45.959 being one of them. 138 00:06:45.959 --> 00:06:47.800 And that's just one of those costs we can avoid. Right. 139 00:06:47.879 --> 00:06:50.480 Those are the needs, not the wants, and that's putting 140 00:06:50.480 --> 00:06:52.439 a lot of pressure on household budgets. 141 00:06:52.639 --> 00:06:56.199 Yeah, so the FED said that its target to lower 142 00:06:56.240 --> 00:06:57.600 interest rates was two percent. 143 00:06:57.639 --> 00:06:59.319 It really wants to get to two percent. We're not 144 00:06:59.360 --> 00:07:00.839 there yet. We're two point nine percent. 145 00:07:01.279 --> 00:07:05.319 Is is that enough you think though, to say, okay, 146 00:07:05.600 --> 00:07:07.079 we can start cutting. 147 00:07:08.160 --> 00:07:09.439 Yeah, it's all about timing. 148 00:07:09.480 --> 00:07:12.480 So the Fed pretty much got the inflation narrative under 149 00:07:12.519 --> 00:07:15.800 control by keeping interest rates high. But they I think 150 00:07:16.079 --> 00:07:18.720 that's okay for right now. They're now focused on the 151 00:07:18.759 --> 00:07:19.360 labor market. 152 00:07:19.439 --> 00:07:21.879 Right. The Fed has two mandates, keep. 153 00:07:21.720 --> 00:07:23.839 Inflation in that two percent target and also keep the 154 00:07:23.920 --> 00:07:25.800 nation at full employment, which is between three and a 155 00:07:25.839 --> 00:07:28.800 half and four percent unemployment. Well, we're at four point 156 00:07:28.839 --> 00:07:31.360 three as of the last reading and it's been creeping higher. 157 00:07:31.480 --> 00:07:33.519 So the Fed is now trying to gauge how weak 158 00:07:33.560 --> 00:07:36.319 the job market is becoming, because that might cause it 159 00:07:36.800 --> 00:07:39.600 to cut interest rates even deeper when it meets in September. 160 00:07:39.920 --> 00:07:42.079 Ah, so instead of like a quarter point, we might 161 00:07:42.120 --> 00:07:43.279 see a half point or more. 162 00:07:44.480 --> 00:07:46.720 Well, there is a growing drug feed for a half 163 00:07:46.759 --> 00:07:49.000 point cut, but not probably not more than that. Though 164 00:07:49.199 --> 00:07:51.879 that said, the Fed has been super transparent this entire 165 00:07:51.959 --> 00:07:54.319 time that Jerome Palell has been shared about what it's 166 00:07:54.360 --> 00:07:56.319 going to do, and it has pretty much signaled that 167 00:07:56.399 --> 00:07:58.480 quarter point cut in September. A deeper cut would be 168 00:07:58.480 --> 00:08:00.720 a surprise, but it would also be an indication that 169 00:08:00.800 --> 00:08:02.879 the Fed sis weakness in the economy. And make no 170 00:08:02.959 --> 00:08:05.279 mistake about it, the economy is slowing a little bit. 171 00:08:05.279 --> 00:08:07.439 Arise in unemployment is one sign of it, but also 172 00:08:07.720 --> 00:08:12.000 in manufacturing. Also in consumer spending. Even though we're continued 173 00:08:12.040 --> 00:08:14.920 to spend in places like Walmart, which is reported blowout 174 00:08:15.000 --> 00:08:18.040 or really strong earnings, we're getting tapped out. Credit Card 175 00:08:18.040 --> 00:08:19.800 debt is at a record high, and that's put pressure 176 00:08:19.800 --> 00:08:21.399 on households as well. 177 00:08:21.560 --> 00:08:25.879 Yeah, so as people have the inflationary costs, so we 178 00:08:25.879 --> 00:08:27.720 were talking about this, and it's like I make a 179 00:08:27.720 --> 00:08:30.120 certain amount of money, but because of inflation, it's just 180 00:08:30.160 --> 00:08:32.519 like I make twenty percent less. And so I think 181 00:08:32.840 --> 00:08:34.960 more people are like, well, I'm not. I don't have 182 00:08:35.039 --> 00:08:37.120 the money. I got to tap into my credit cards 183 00:08:37.159 --> 00:08:38.840 to make some of the to make some of my 184 00:08:38.960 --> 00:08:41.519 regular payments, right. 185 00:08:41.440 --> 00:08:44.080 And that's the cycle we continue to get in and 186 00:08:44.159 --> 00:08:46.080 folks are getting a little tapped out on that. You 187 00:08:46.120 --> 00:08:48.639 were speaking about airline fares, Well, they are cheaper if 188 00:08:48.639 --> 00:08:50.480 you're traveling the next two months, because who is, But 189 00:08:50.519 --> 00:08:52.720 if you're trying to buy them out into the holidays, 190 00:08:53.799 --> 00:08:55.600 going to get much more expensive. But not just that, 191 00:08:55.679 --> 00:08:57.799 it's everything else that we're paying for. The good news 192 00:08:57.840 --> 00:09:00.600 is gas prices have been pretty level, and that is 193 00:09:00.600 --> 00:09:03.120 the thing that really gives us sticker shock as consumers. 194 00:09:03.120 --> 00:09:04.720 That really makes us cut back on things. 195 00:09:04.840 --> 00:09:08.120 So we continue to spend on some experiences and discretionary things. 196 00:09:08.159 --> 00:09:09.480 But talk to some of the restaurants, some of the 197 00:09:09.519 --> 00:09:12.720 restaurants that are closing spending this weakening as consumers are 198 00:09:12.720 --> 00:09:13.279 tightening up. 199 00:09:13.480 --> 00:09:16.120 Yeah, okay, And then for housing, Caleb, I'm curious if 200 00:09:16.679 --> 00:09:19.399 the FED decides to drop the interest rates would there 201 00:09:19.480 --> 00:09:23.159 be an immediate drop for like housing, for mortgage rates. 202 00:09:24.000 --> 00:09:25.120 Oh, that's already happened. 203 00:09:25.559 --> 00:09:28.480 The thirty year mortgages dropped from seven percent just about 204 00:09:28.519 --> 00:09:30.840 a month ago to about six point three percent at 205 00:09:30.919 --> 00:09:31.440 last check. 206 00:09:32.440 --> 00:09:34.039 And that's if you have very good credit. 207 00:09:34.080 --> 00:09:36.879 But also make you've seen a slow down in the 208 00:09:36.960 --> 00:09:39.240 rise in housing prices too, so you're going to see 209 00:09:39.360 --> 00:09:42.120 the housing market open up. Mortgage rates are super sensitive 210 00:09:42.360 --> 00:09:44.600 to the yield on the ten year US Treasury, while 211 00:09:44.639 --> 00:09:47.279 the Fed set's interest rates immediately affects the ten year treasury. 212 00:09:47.519 --> 00:09:50.039 That you've already seen that drop, would probably see mortgage 213 00:09:50.080 --> 00:09:50.919 rates drop even further. 214 00:09:50.960 --> 00:09:53.399 We've seen a spike and refinancings just in the last 215 00:09:53.399 --> 00:09:55.679 week off a very low base, but you're starting to 216 00:09:55.720 --> 00:09:57.399 see that heat up again, and that's good news for 217 00:09:57.399 --> 00:09:58.080 the housing market. 218 00:09:58.200 --> 00:10:00.360 I love to end on good news. Thank you so much, 219 00:10:00.399 --> 00:10:04.159 Caleb Silver, appreciate your information. If you want to follow Caleb, 220 00:10:04.240 --> 00:10:05.480 it's at Caleb's Silver. 221 00:10:05.559 --> 00:10:06.159 Thanks so much. 222 00:10:07.360 --> 00:10:07.720 Thank you. 223 00:10:07.799 --> 00:10:09.399 All right, let's get back to some of the stories 224 00:10:09.399 --> 00:10:12.360 coming out of the KFI twenty four hour newsroom. California 225 00:10:12.360 --> 00:10:14.799 has been ranked thirtieth on a list of the best 226 00:10:14.840 --> 00:10:17.960 and worst states to have a baby. The personal finance 227 00:10:18.000 --> 00:10:21.080 website wallet hub compared thirty one key metrics in all 228 00:10:21.120 --> 00:10:26.279 fifty states, including healthcare accessibility, average annual cost of early childcare, 229 00:10:26.639 --> 00:10:30.360 and the number of pediatricians per capita. Analyst Chip Lupo 230 00:10:30.440 --> 00:10:33.039 says childcare is expensive in California, which is why the 231 00:10:33.039 --> 00:10:33.960 state didn't rank. 232 00:10:33.840 --> 00:10:36.480 Higher, so it's very important that you do have make 233 00:10:36.480 --> 00:10:39.600 sure you have adequate health insurance set aside to money 234 00:10:39.600 --> 00:10:42.840 in the savings account for emergency your unplanned expenses. 235 00:10:43.159 --> 00:10:43.480 He says. 236 00:10:43.480 --> 00:10:47.200 California did better than neighboring states, with Arizona ranking thirty 237 00:10:47.240 --> 00:10:51.039 fifth and Nevada forty six. The state has approved an 238 00:10:51.080 --> 00:10:54.000 audit of the City of Anaheim's leases with the Angels 239 00:10:54.039 --> 00:10:57.200 for the baseball team's stadium. An audit was called for 240 00:10:57.279 --> 00:10:59.639 when the proposed sale of the stadium fell through in 241 00:10:59.679 --> 00:11:04.799 twenty over allegations that former Mary Mayor Harry Sidhu was 242 00:11:04.960 --> 00:11:09.000 giving inside information to the Anaheim Chamber of Commerce CEO 243 00:11:09.240 --> 00:11:14.519 Todd Amont and an Angels consultant. Current Mayor Ashley Aitken 244 00:11:14.639 --> 00:11:18.679 says the city welcomes the audit. The stadium's been estimated 245 00:11:18.679 --> 00:11:21.919 to be worth about five hundred million dollars. The president 246 00:11:21.960 --> 00:11:26.000 of Columbia University has stepped down. ABC's Lindsay Davis says 247 00:11:26.120 --> 00:11:30.320 Manushafiq will move on to a role in international development 248 00:11:30.360 --> 00:11:30.799 in the UK. 249 00:11:31.000 --> 00:11:33.159 She i face sharp criticism in her handling of campus 250 00:11:33.159 --> 00:11:35.720 wide protests of the Israel Hamas War that became a 251 00:11:35.840 --> 00:11:38.919 national symbol, including allegations that she didn't do it enough 252 00:11:38.960 --> 00:11:41.039 to protect Jewish students on campus. 253 00:11:41.080 --> 00:11:44.240 The presidents of Harvard University and the University of Pennsylvania 254 00:11:44.240 --> 00:11:48.039 also resigned following pro Palestinian protests on their campuses. A 255 00:11:48.120 --> 00:11:52.000 Russian court has sentenced a US Russian ballerina to twelve 256 00:11:52.080 --> 00:11:55.480 years in a penal colony for high treason after she 257 00:11:55.519 --> 00:11:59.360 allegedly transferred funds to a Ukrainian charity in February of 258 00:11:59.399 --> 00:12:02.840 twenty twenty two, that's when Russia launched its full scale 259 00:12:02.879 --> 00:12:08.240 invasion of Ukraine. Hurricane Ernesto has been gaining strength as 260 00:12:08.320 --> 00:12:11.080 it moves up the Atlantic and heads toward Bermuda. The 261 00:12:11.120 --> 00:12:14.639 storm could become a Category three hurricane tomorrow, and it's 262 00:12:14.679 --> 00:12:19.000 expected to pass near Bermuda on Saturday. It left behind 263 00:12:19.000 --> 00:12:22.240 a trail of destruction and flooding in Puerto Rico. Nat 264 00:12:22.720 --> 00:12:25.799 Natalia Brito says she and her family lost power Tuesday 265 00:12:25.879 --> 00:12:28.480 night and are standing with relatives who have a generator. 266 00:12:28.720 --> 00:12:32.639 I'm hoping the energy will come back soon, so that's. 267 00:12:32.480 --> 00:12:33.440 My only hope. 268 00:12:34.879 --> 00:12:38.559 The hurricane is expected to trigger rip currents and winds 269 00:12:38.679 --> 00:12:42.919 all along the East coast. Police are looking for fake 270 00:12:43.240 --> 00:12:46.120 repo men who have been taking cars in the San 271 00:12:46.159 --> 00:12:50.679 Fernando Valley. A person in Silmar says two guys recently 272 00:12:50.720 --> 00:12:52.759 showed up at his house, took photos of his car, 273 00:12:53.279 --> 00:12:55.720 filled out some paperwork, and towed the car away, even 274 00:12:55.720 --> 00:12:58.320 though the car was paid for. The laped says there's 275 00:12:58.360 --> 00:13:01.200 been a nearly forty percent increase in car thefs in 276 00:13:01.399 --> 00:13:05.679 North Hollywood alone in the last year. The Lamolinda, Sydney 277 00:13:05.960 --> 00:13:08.679 City Council has voted three to two to lift a 278 00:13:08.720 --> 00:13:12.320 twenty fourteen ban on new drives through restaurants. The ban 279 00:13:12.519 --> 00:13:15.279 was initially put in place to promote healthier living in 280 00:13:15.320 --> 00:13:17.879 the city, which is known as one of the world's 281 00:13:17.919 --> 00:13:22.399 five Blue Zones for longevity. Opponents argued the restriction had 282 00:13:22.480 --> 00:13:26.600 led to lost business opportunities and said the ban isn't 283 00:13:26.639 --> 00:13:30.360 needed because there are healthier food options available now. North 284 00:13:30.440 --> 00:13:33.039 Korea is planning to welcome tourists by the end of 285 00:13:33.080 --> 00:13:35.519 the year. This announcement comes as South Korea and the 286 00:13:35.600 --> 00:13:38.399 US garret for joint military exercises next week in a 287 00:13:38.440 --> 00:13:41.600 show of force as North Korea ramps up its nuclear threats. 288 00:13:41.600 --> 00:13:45.399 Most American passports are not valid to travel to North Korea, 289 00:13:45.840 --> 00:13:48.919 and the US classifies North Korean travel as a Level 290 00:13:49.039 --> 00:13:51.120 four risk that means do not travel. 291 00:13:52.360 --> 00:13:53.039 At six oh five. 292 00:13:53.039 --> 00:13:57.120 It's handle on the news, Minnesota's Governor Tim Walls says 293 00:13:57.159 --> 00:13:59.799 he is all in for a vice presidential debate with 294 00:14:00.440 --> 00:14:03.960 JD Vance on October first. Right now, let's say good 295 00:14:03.960 --> 00:14:08.279 morning to ABC's crime and Terror analyst Brad Garrett. So, Brad, 296 00:14:08.360 --> 00:14:13.320 catalytic converters are a hot commodity. They even caught an 297 00:14:13.320 --> 00:14:17.759 actor on General Hospital, Johnny or cost actor Johnny Wackter 298 00:14:18.279 --> 00:14:21.279 is life in Downtown LA recently. So what makes them 299 00:14:21.320 --> 00:14:22.919 such a hot commodity. 300 00:14:23.440 --> 00:14:28.120 Because of three precious metals in the inside the converter, 301 00:14:29.759 --> 00:14:33.399 which are platinum, palladium, in roodium. 302 00:14:35.399 --> 00:14:37.720 Their mind either. 303 00:14:37.519 --> 00:14:41.600 Come out of Africa or Russia. And if you have 304 00:14:42.240 --> 00:14:46.519 someone who can actually extract those three precious metals from 305 00:14:46.960 --> 00:14:51.440 the stolen converter. You're in dependual potentially a lot of money, 306 00:14:52.120 --> 00:14:55.840 in particular, if you're working in volume. If you look 307 00:14:55.879 --> 00:15:02.639 at the surveillance video of Johnny's, that looks organized to me, 308 00:15:02.840 --> 00:15:08.639 it's three guys that got hoods up masts on. The 309 00:15:08.840 --> 00:15:10.679 estimate is, if you know what you're doing, you can 310 00:15:10.720 --> 00:15:14.960 steal a converter in ninety seconds, and they tend to 311 00:15:15.000 --> 00:15:17.600 work off by them. Now, these guys obviously were armed. 312 00:15:17.840 --> 00:15:20.519 I think LAPD has said they think they're gang connected 313 00:15:20.600 --> 00:15:24.399 some way, and it makes complete sense because if you can, 314 00:15:24.720 --> 00:15:27.559 if you can steal them in volume, then you can 315 00:15:27.639 --> 00:15:30.200 sell them to a middleman for whatever you can get 316 00:15:30.240 --> 00:15:35.200 per converter, who will then sell them to a metals 317 00:15:35.279 --> 00:15:41.159 processing facility that actually extracts these precious metals from the converter, 318 00:15:41.759 --> 00:15:44.120 and that's where the money is. I mean, I think 319 00:15:44.159 --> 00:15:47.039 in the write up I sent you a family in 320 00:15:47.159 --> 00:15:50.480 Sacramento a couple of years ago were prosecuted. They had 321 00:15:50.519 --> 00:15:55.279 sent six hundred million dollars worth of converters to a 322 00:15:55.320 --> 00:15:58.720 processing facility in New Jersey before they got caught. I mean, 323 00:15:58.759 --> 00:16:03.159 there's there's big money in this if in fact, you 324 00:16:03.200 --> 00:16:07.000 know you're so inclined to climb underneath people's vehicles. 325 00:16:07.960 --> 00:16:08.840 Okay, so. 326 00:16:11.200 --> 00:16:15.360 How if there's six hundred million dollars worth Like when 327 00:16:15.399 --> 00:16:19.399 you take the precious metals from the catalytic converters, how 328 00:16:19.480 --> 00:16:20.240 much is that worth. 329 00:16:21.679 --> 00:16:25.960 Well, it's hard to say that rhodium I have read 330 00:16:26.799 --> 00:16:28.559 it could be worth excuse me. 331 00:16:28.440 --> 00:16:30.639 As much as twenty eight thousand dollars an ounce. 332 00:16:31.600 --> 00:16:36.559 So if you again translate into that into volume, these 333 00:16:36.600 --> 00:16:40.120 three medals alone would be worth a fair amount of money. 334 00:16:40.200 --> 00:16:42.320 Now you'd have to pull it from a number of 335 00:16:42.399 --> 00:16:44.279 converters I think to make it worthwhile. 336 00:16:45.120 --> 00:16:46.879 But if you're in the. 337 00:16:46.759 --> 00:16:51.159 Business of doing this in volume, then you could make 338 00:16:51.200 --> 00:16:54.720 some money because then the precious metal basically can go 339 00:16:54.840 --> 00:16:59.200 back into the open market as to whatever you can get. 340 00:16:59.279 --> 00:17:02.039 For them of you know, paraphs or whatever it might be. 341 00:17:02.919 --> 00:17:07.559 So so then my question is how much of these 342 00:17:07.599 --> 00:17:11.079 precious metals is actually in a catalytic converter because we're 343 00:17:11.119 --> 00:17:13.799 not putting we're not spending twenty eight thousand dollars to 344 00:17:13.839 --> 00:17:16.799 put a catalytic converter on a car, so it's not even. 345 00:17:16.599 --> 00:17:19.920 An adult, right, I don't think a lot. 346 00:17:20.720 --> 00:17:23.240 But like I said, if you have a lot of 347 00:17:23.279 --> 00:17:26.279 converters you've stolen, you could come up with a fair 348 00:17:26.279 --> 00:17:29.839 amount of these three precious metals. So you know, strictly 349 00:17:29.880 --> 00:17:32.839 from the gang standpoint, you know they're not going to 350 00:17:32.920 --> 00:17:35.319 deal with any of this. This is just strictly theft 351 00:17:35.599 --> 00:17:38.200 right passing it to a middle person. It could be 352 00:17:38.240 --> 00:17:41.799 a body shop, it could be something connected to the 353 00:17:41.839 --> 00:17:45.039 automotive industry, let's say of Los Angeles or someplace else, 354 00:17:45.720 --> 00:17:47.119 who then moves them on. 355 00:17:48.079 --> 00:17:51.799 So it's got to be worthwhile. 356 00:17:51.839 --> 00:17:55.000 I mean, the police in California say there's at least 357 00:17:55.039 --> 00:17:58.839 sixteen hundred of them a week that are reported stolen. 358 00:18:00.160 --> 00:18:00.960 Or around the states. 359 00:18:02.319 --> 00:18:05.920 So if that gives you an idea, and you know, 360 00:18:06.000 --> 00:18:08.240 if you think about is there anything you can do, 361 00:18:09.599 --> 00:18:11.240 and maybe there's a few things you can do that 362 00:18:11.279 --> 00:18:14.039 The cars amy that seem to be the most targeted 363 00:18:14.079 --> 00:18:19.160 are preuses, SUVs, and pickup trucks. Now I'm going to 364 00:18:19.160 --> 00:18:21.599 add a fourth one, and that's fleet vehicles. And the 365 00:18:21.640 --> 00:18:24.920 reason why is they tend to be alone at night 366 00:18:25.839 --> 00:18:28.960 in you know, either a parking garage or even parked 367 00:18:29.000 --> 00:18:31.920 outside someplace, and so these can go in and steal 368 00:18:31.920 --> 00:18:35.519 the converters off of all the trucks in a given night. 369 00:18:36.000 --> 00:18:37.960 So the point being what do you do about that. 370 00:18:38.039 --> 00:18:40.759 You can paint your converters to make them less attractive 371 00:18:40.759 --> 00:18:44.680 to sell. You can put your your ven number or 372 00:18:45.319 --> 00:18:48.960 tag number on the converter. You can have either you 373 00:18:48.960 --> 00:18:51.400 can either purchase or have made a metal plate to 374 00:18:51.440 --> 00:18:55.119 go over your converters, so the bad guys can immediately 375 00:18:55.160 --> 00:18:58.440 get to the converter to steal it. And you have 376 00:18:58.480 --> 00:19:00.480 to think about where you park it and is it 377 00:19:00.559 --> 00:19:03.720 going to be isolated. Now, granted, some people just don't 378 00:19:03.720 --> 00:19:06.039 have any choice where they park their vehicle, but the 379 00:19:06.079 --> 00:19:10.279 point being if it's something that's easily accessible to bad guys, 380 00:19:11.200 --> 00:19:14.799 then it makes it more susceptible. Now I'll tell you 381 00:19:14.839 --> 00:19:18.759 the problem. I mean, if you look at at Johnny's tape, 382 00:19:18.880 --> 00:19:21.359 the surveillance tape when he was killed, I mean, it's 383 00:19:21.359 --> 00:19:23.599 three o'clock in the morning, but as you well know 384 00:19:23.640 --> 00:19:25.720 in La on a busy street, it's busy at three 385 00:19:25.759 --> 00:19:27.599 o'clock in the morning. I mean there were people out, 386 00:19:27.599 --> 00:19:29.400 there were scars parking in front of him and back 387 00:19:29.440 --> 00:19:32.559 of him, so they're really bold in what they're doing. 388 00:19:34.240 --> 00:19:37.759 So you can take these precautions, but they're not going 389 00:19:37.799 --> 00:19:38.720 to be perfect. 390 00:19:38.920 --> 00:19:42.400 Okay, And the ven number one sounds like a decent idea. 391 00:19:42.440 --> 00:19:46.920 But if somebody is coming in and stealing these catalytic 392 00:19:47.039 --> 00:19:49.839 converters in mass are they checking for an number? 393 00:19:49.839 --> 00:19:51.279 Aren't they just cutting them off and going? 394 00:19:52.480 --> 00:19:54.359 Well, I think they're probably cutting them off and going 395 00:19:55.440 --> 00:19:58.720 and they may not care because you know, in an hour, 396 00:19:58.839 --> 00:20:02.559 two hours, five hour, they're not going to have it anymore. 397 00:20:02.880 --> 00:20:04.920 They're going to pass it on to whoever they're selling 398 00:20:04.960 --> 00:20:07.799 it to, and you know, once it gets in that 399 00:20:08.039 --> 00:20:11.559 internal system, you know it's not going to do you 400 00:20:11.640 --> 00:20:13.799 much good. I think the whole idea of doing that 401 00:20:13.960 --> 00:20:16.599