Honey money, Money Now a financial dispatch from a season economic professional. This is the Bloomberg Money Minute on seven hundred WLW.
Alrighty, we say good morning once more to Denise Pelagreni from the Bloomberg newsroom in New York City. A very good news for tens of millions of Americans. Mortgage rates drop.
Yeah, this is really igniting a new buying spree. Here's what we know. Mortgage applications for home purchases jumped last week to the hydas since January of twenty twenty three. So that's more than three years, right, according to the Mortgage Bankers Association, and the reason, as you mentioned, contract rate on a thirty year fixed rate mortgage slip two basis points, putting it closer and closer, though not quite under six percent. The rate this past week six point
one six percent. We've seen all these surveys showing if rates were to actually drop under six percent, that could ignite a just a huge wave by but we're all starting to see maybe that happening.
Yeah.
Meanwhile, speaking of home buyers, President Trump is expected to unveil plans the deal with the fact that so many people can't afford to buy a home right he's.
In Switzerland, he's touched down. Finally, he's expected to deliver a major address in the coming hours. Housing affordability and plans to ease the affordability crisis as something he has said that he will include as part of his comments during his travels in Switzerland this week. The President also intends to expand his domestic travel ahead of November's midterm elections. He'll be touting his economic agenda all over the place.
According to AIDS, housing is expected to be a big part of this, and the AIDS say the President will be traveling every week. Cabinet members will focus on domestic stops,
making fewer international trips. We've seen a lot of things floated as part of this housing affordability plan, whether it comes to mortgage rates, new building, you know, maybe curbing investors' ability to buy single family homes themselves, maybe being able to take some money out of your four oh one K with new rules surrounding that to use as a
down payment. Just a lot going on. No one is sure exactly what he's going to say about housing, but that is just being watched very very closely and should be especially among consumers. Hoping to buy.
Home absolutely without all that in mind. What about the futures this morning, Yeah.
They flipped negative after the president touchdown. There's just a lot of tension about Greenland, right, and also the President is threatening what eight European nations with new tariffs because of their views opposing his view on green On. So Doubt futures down one on one, s and P futures down one, NASDA futures down twenty one. And this is all after just that huge route we had yesterday for a stocks. The big winner today is gold hitting a
new record high this morning from Bloomberg. I'm Denise Pelgriny News Radio seven hundred WLW.
Always enjoy getting together with our business insider. You can follow Greg Stebben on Bluesky at Greg g r e gg Steben s t e b as in boy b as in boy e n.
And today we're going to break this down.
We're going to dumb this down a little bit today because we've been talking so much Greg about AI. You know, what is it? How exactly does it work? I mean, is it some giant computer that knows everything about everything that's ever been on the Internet or in the world, or in the news or anything else. Let's break it down to this very simple question, what is a I? And a follow up, how exactly does AI work?
Well, I'm glad you started with what I think most people think it is and how it works, which is this giant computer system that has read everything on the Internet and the minute you ask a question can access it all, order it, make sense of it, and write a solution for you or an answer for you. That's part of how A work. There's another part, which may be news to you, and that is there are companies like one called Mercore, and let's just single Mercore out
here for a minute. Mercore has hired tens of thousands of people who are teaching the Internet what they know. We're talking astronomers, psychologists, industrial engineers, filmmakers, comedians, lawyers, doctors, poets. They're paying people. If you were a dermatologist, for instance, you might get two hundred and fifty dollars an hour to teach AI about dermatology. If you were a poet, you might make one hundred and fifty dollars an hour
teaching AI how to be poetic. I don't know about you, but if this thing could read all the information in the world and spew it out in a brilliant, artificially intelligent Why does it need humans to tell it what to do? To me? It's beginning to sound like the Wizard of Oz.
Well, that's where I was going. It's funny you said Wizard of Oz, because I mean does that I mean, at the end of the day, is AI really that smart or as smart as we are told? Or like the Wizard of Oz with a human and a brain hiding nearby, somewhere behind the proverbial curtain.
Well, so let's ask your question in a different way. Why would AI companies want us to believe it's the smartest thing ever and soon it will be smarter than us, when perhaps it's really more like the Wizard of Oz.
Can we think of a business reason for that? I can, And the business reason for that is, Oh, if we if we five companies build up this illusion of brilliance and we sell everybody on it, and by I mean mostly businesses, and then we as individuals follow in the governments, and then everybody, governments, businesses and individuals begin using this
instead of the old way of getting information like Google. Well, we've killed our competition and we now own how people do things before they figured out that what we sold them was actually an illusion, and they may hate us for selling them on something that's an illusion, but they can't go back to the old thing because that whole system, and maybe even some of those companies that make it possible, is gone. I mean, we've seen this in the tech
business over and over again. You kill your competition. This is how Microsoft became Microsoft. You kill your competition, or you buy your competition and you run them out of business. And then if people discover later that what you were actually selling was inferior, doesn't really matter because there's no old way to go back to, you know.
Before I shift this in a different direction, which I want to get to in a second, when you were using the example of a poet or an astronomer or any walk of life, these people come into All of us come into a situation like that where we might be teaching it something, but then our personal sort of slant comes into it. Has that become an issue at all? From what you've been able to tell or hear in the AI world, have you heard.
Any issues with AI getting people incorrect accurate?
You and I were talking tragically about you know, teens that have basically been talked into and given ways to go about committing suicide.
Well, I think that might be a case where more into human intervention would have been better, because I don't think there's a lot of people that would have coached.
AI to do that.
I mean, I think there are places where human intervention is going to be necessary, but not tens of thousands of people teaching it to be poetic, not teaching it about astronomy. You would think that just like you and I read a textbook to read things, or now we go to YouTube. But you know, just like if it had greater than human intelligence or equal to human intelligence, that it could learn the same way we do, which
is by watching a YouTube video or reading something. But apparently that's not good enough because it then needs us as coaches as well.
Okay, I want to go in a little bit different direction, if you don't mind on the premise here that we know if it takes tens of thousands of people every day to teach AI how to do things, and maybe I have lost my job to AI, or think I might lose my job to AI, should I be considering going to work for one of these companies as you alluded to a minute ago. And then I'm the one who teaches people every day and teaches Ai how to do things.
Well, that's a tough question, right, I mean I'm listening to you, and I'm thinking it's kind of like answering an ad in the paper. Let's say a chef and you get a job or to go live with and cook for Hannibal lector Okay, right, it's gonna in the end, You're going to finish your job and then it's going to eat you. So it may be that you don't have a choice. I mean the people that are interviewed in this article I read in the Wall Street Journal,
I mean some of them like the work. You know, there's one guy who is who wrote about cars as a journalist for his entire career. Well, I can tell you as a journalist that's not a great career to be in anymore. So now he's teaching Ai how to write and evaluating pieces of journalism that Ai is writing. I think he'd rather be a journalist, but he also wants to put food on the table and make his car payment or his mortgage, So I think stepping into
that is tricky. It is. If you need the money and you can get the job, you may do it. But just remember, Hannibal Lecture's coming for you too.
Well that's a hasn't thought to end on for crying out loud, Greg, We always love the time getting together with you, my friend. I hope you have a great rest of your weekend weekend, and we'll look forward to catching up again next week.
Thank you, sir, you bet.
It's great to be here, all.
Right, Greg, Great to have you with us. Love have an guy on every single week. He is just a fascinating dude, smart beyond belief speaking, a smart good chance. You me made a New Years resolution about improving our health well this year and you hear us talk all
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been evaluated nor approved by the FDA. Provider Prescription required. See website for details. All right, let's check the roadways out there, Chuck, how we rolling along this morning?
Not too terribly bad. I mean, things could be a
whole lot worse. The further south you go, you start to get into some weather issues, and it could be a while before a person gets here if you're expecting them from Louisvara, Lexington because of that snow and ice that's moving through here southbound seventy five that continues to run a bit slow through Westchester and through Lochland, and crews continue to work with a wreck on southbound seventy one below fields Irdle that's on the left hand side.
This all from the UC Help Traffic Center. U See Cancer Center offers advanced surgical options for complex liver and pancreas cancers and clinical trials you won't find anywhere else. Get a second opinion now called five one three, five eight five u SECC. The latest accident is westbound on seventy four. They're on the right hand side, just after you get passed. Harris and Ryebolt Chuck Ingram News Radio seven hundred walw our.
WCPO nine, first twenty four cast presented by Jennifer ketch Mark. We're gonna start seeing some snow here in the Try State. Maybe some in our listening area already getting some snow. As Chuck just mentioned, we're looking at roughly an inch some areas a little more. Some a little bit less and that will go until about one o'clock today. So you know, the temperatures being what they are, there could be some slick roads or some slick spots possible out there.
Tonight we're dried down to twenty seven. Tomorrow, mix of sun and clouds up to thirty four, but with a wind chill it won't be above freezing. Then tomorrow night we're down to fifteen, wind chill in the single digits.
And the big, big question is where is the try state in relation to this massive storm that is moving west to east across America and to hit areas that rarely, if ever gets no and now they're staring down the barrel at anywhere from four to twelve to eighteen inches in place like Texas, Oklahoma, Tennessee, Kentucky, Georgia, North Carolina, South Carolina, Virginia. Eight twenty three, we got the news around the corner on seven hundred WL, and we've got the news coming up in forty five seconds.
Coming up at eight thirty eight.
Our visit with Pastor Chad Joven and our four week series continues the me I want to be We've talked about, you know, are you really too busy or are you really not making certain things a priority. We talked about making a to B list rather than a to do list. Today we're going to talk about making a hierarchy of needs, where my needs where I need to be on multiple fronts, not just mentally, physically and spiritually. But what about as a father? What about is a husband? What about as
a worker? That's coming up next on the Nation station seven UNDREWLW Cincinnati, Money become.
A financial Ninja. Your next is about to begin.
This is the Bloomberg Money Minute on seven hundred WLW.
Good Morning. Investors this morning. Are keeping a very close eye on President Trump and what he says in Davos about Greenland, also about trade with the European Union, and also about the US housing market and the problem of affordability. Meantime, gold glittering this morning, hitting new record highs as the US threatens tariffs on European nations that oppose the President's
plans to take over Greenland. Natural gas futures surging as people across the East and the South duck and cover ahead of a big storm coming this weekend that could not only dump a lot of snow on some areas. Could also hurt Texas, where a lot of the natural gas is processed and remembered. Natgas is also used to generate electricity, so any snarls in net guest delivery can also mean potential problems with electric supply. Netflix shares plunging
this morning. It plans to boost program spending this year that could hurt profits, and United Airlines trading higher in the early going after coming out with better than expected quarterly results. The airline also adding by flat seats, startling internet service, and spending one hundred and fifty million dollars to improve in flight catering. From Bluebirg, I'm Denise Pelygrinnian News Radio, seven hundred wlw AH.
Yes when you hear it, don't stop believing. That means it's time for our weekly get together with Pastor Chad Hovin from the Horizon Community Church right there in Newtown, Ohio, right along the bank to the Little Miami River.
Beautiful setting over there lake right out the back of the church. All right.
We decided three weeks ago, and Chad came up with the title of our four part series. A lot of people like to make New Year's resolutions and so maybe different than your say, physical health or whatever it might be. He calls this series the me I Want to be Today is part three, but Chad, for those that may have missed parts one and two, let's start with number one if you can just you know, sort of prioritize or summarize more accurately. Number one, I'm not too busy. It's just not a priority.
Yeah, say that phrase to yourself is really helpful because it helps you remember that when you choose not to do something, it's because you're choosing not to do something, the kind of false belief that we're too busy, we're going to fill our life with things that are important to us, and so if you're not prioritizing something, it's because you're not prioritizing something.
So phrase is really helpful.
In aligning what it is you're really choosing to do and choosing not to do.
Okay, So the.
First week and the second week we talked about to B list should be what drive your to do list, which is who do you want to be, who you're becoming, who you're forming yourself into. Then how do you make sure that what you're choosing to prioritize or engage in, or when life kind of comes at you and you can't choose it, how do I use this to become a more generous person, to become a less worryful person,
How do I become more courageous person? And that can really bring meaning and purpose even when you're underdress.
You know, I loved as part of that second part of our series about where you talked about making a list of character qualities that you saw in those that you have respect for. It could be a loved one in your case, it was a grandfather for some others, it could be somebody you work with. It could be a friend, It could be one of your children. Something you look at them and you're like, man, I wish I were more like that in that way, right.
Without a doubt.
Yeah, in fact, and I think it actually infused it with meaning because you're like, it's not just a theoretical idea. I've seen this lived out. I've seen this personalized in someone, and this is what a life well lived can look like. And obviously no one is perfect. That you might say, Hey, that particular quality of that person, I like, yeah, I want to leave the other things behind on that person. This other person I want to pick up what their strengths are. So it really gives you a vision for
what living in a profoundly human way looks like. And you start seeing that there's almost intangible, immaterial, almost supernatural qualities behind that, and you're like, man, I want to partner with that.
We call it plain glass, stained glass. We do it every Wednesday with Pastor Chadholven from the Horizon Community Church. Okay, now we get to part three in our series of the me I want to be make a hierarchy of needs?
What does that need?
Yeah, well you mean remember from psychology class If not, there is a gun named Maslov who create a hierarchy of neats and thinking it like the food pyramid. At the bottom, he said, our foundational need is a biological neats, food and water. Then on top of that is the next most important thing safety. Then the third thing is love and belonging. The way towards the top of the pyramid is esteem. And then lastly at the very top, if you really have time for or self actualization, spiritual.
Values, etc.
I'd like to propose that you should actually turn those values upside down and inside out, which is what if you know a lot of people have their physical needs mets and their safety needs met, and yet they're discouraged, they're depressed, they're not happy. And it's not to say the food and water and safety is important. But what if the focus is to turn that upside down. I'm always focusing on my externals, not focused on my internals. I need to turn inside out, which is what's really
going on inside of me. There's an old French philosopher, Pierre I can't Rember's last name, but he says man is not primarily a human being having a spiritual experience. Mankind is primarily a spiritual being having a human experience. You think of it this way, like every human being you feel it, I feel it everyone you know? Humans are obsessed with finding.
Meaning and purpose.
Like why would that be except that we are created from a meaningful I mean, if the whole world was created in a random, meaningless way, it would not create creatures that are obsessed with meaning. So in saying that, say, then okay, then what are my self actualization one of my core values? What are the things I really need to focus on that hierarchy of needs? And when you know that, you start realizing you come to decisions. I know what to say yes to and what to say
no to. For many of us, we focus on staying busy, being productive, and I love staying busy, and I love being productive. What if instead, you said, while I'm doing that, the real hierarchy is I need to go deep. I need to pay attention to my body. My body is telling me right now, I'm discouraged. My body's telling me right now, I am stressed. My mind is racing. What if I was focused on I need to prioritize that, Yes, I want to work hard.
Yes, I want to be the best employee I can.
Yes, I want to provide for my financial needs. For my goodness, I've been ignoring my body.
I've been ignoring my mind racing.
I've been ignoring that, whether it's depression, or whether it's anxiety, or whether it's worry or maybe I saw on my parents, man, they were so fearful their whole life. I've now inherited some of that. I need to go deep. I need to get to the bottom of this. I need to what I'm doing, why I'm doing it, how I do it, why I think that's going to force you to keep being good at what you do, but not ignore the symptoms all around you that you said, Ah, that's the
top of the pyramid. What a luxury to think about that kind of stuff versus that might be your body and mind really crying out to you about what really matters.
You know, I'm kind of curious. It's sparked the question I've often wondered. And you talked to so many people on so many different levels of things they're going through. It could be a breakup of a marriage, it could be the loss of a loved one, grief, etc. All kinds of deal issues with a child who perhaps has gone astray. One thing that made me wonder when you were just talking about something there about for us to
go deep. Okay, do you think and based on your experience, do you think that a person, if they really want to go deep, that they have to resolve some issues of maybe some things in their past that they've never dealt with. And I'm not talking here now about serious trauma. I'm not talking about someone who is physically or sexually of you. It's a whole different level and there's no doubt about the answer to that question. But I'm talking you know, maybe your parents had a terrible divorce, maybe
you and your sister, whatever it could be. Is it important for you to go deep as you just made reference to, do you have to be able to put some of those other things to bed that may have happened five years ago, forty years ago before you can go deep.
Well, yeah, I think it might be the very definition of going deep as a deal with those things. It's how did I become who I am? And what part of that is me reacting to the past. What part of that is me repeating the past? And how do I move to a place where I'm responding to the past. What's the difference responding is I know what happened, I know what part of it I'm choosing to leave behind.
I know what part of it is I have healed from.
There's a there's a psychology called love attachment theory, and it says that the problems in your marriage didn't begin in your marriage. And you think, if only my spouseuld blah blah blah, But really you've picked up patterns from the past. You're still caring wounds or wounded miss and you know this.
We all know this. No matter how wonderful your life is.
And here in America I'm living in twenty twenty six. You know, we all are very, very blessed. However, life is brutal, and it is hostile often and the things we endured, the difficulties, and sometimes that's expectations to for many of us. Often you can't enjoy the life you could have until you.
Have to grieve the life you should have.
And many of us had expectations, my life should be like this. I'm now forty years old, I'm now sixty years old. I should be X, Y and Z. And because of some brutal part of your life, something that happened, it was beyond your control or you know, we all make bone headed decisions too. We go, then we beat ourselves up over if only I hadn't done that, said that been there across that line. So a lot of times it's grieving, and I don't think a lot of
us know how to grieve. And grieving is saying, man, I know what happened, I know what I wanted to happen.
I did my darkness.
I mean there's times like I remember my book came out, I did my darkness to.
Kind of.
Check every dot, every eye across every tee to make sure I had done my part to make it successful. And it was moderately successful, but not at the level I hoped for, and you know, I had to grieve that. You know, I thought that would be you know, A B and C. And it was, you know, maybe better than others. Other times it's more deeper stuff. You're looking at past and saying, my goodness, I'm still carrying the wounds of you know, needing to be a mediator between.
My mom and my dad, you might think.
Or growing up, you might say, I had a very volatile childhood and because of that, it just bread a lot of worry or anxiety in me. And if I don't consciously deal with that, I probably already bread some of that into my kids. You might say, Man, I want to show them, even as an adult, now that they're in the twenties or thirties, that data is still growing. And there's a tendency I think in all of us to think chronological time is going to magically heal the
stuff inside you. Yet we all know that you can be chronologically getting older, and you can be developmentally getting more and more immature, or more and more grumpy, or more and more self focused. So if you're not intentional about it, the current of life, the current of your own trajectory, is to often take you towards more self centeredness,
more miism, and those sestering wounds. In last week of church, I talked about Mount Saint Helen's and what made Mount Saint Helens so devastating is when the explosion went off of that cryptodoom dome off the side of the mountain a thousand years earlier. All these sulphuric gases underneath the mountain and basically create a teflon plate. So about third
of the mountain is just ready to slide off. So that explosion triggered a slide that went back to one thousand years older, and many geologists called it a sick mountain. It looked beautiful on the outside, but inside there was just some sickness.
There was some there was.
Unresolved sulfuric acid that had basically created a slide plane that created devastation later. So it often it says, I need to drill down, figure out what smells the matter. I'm here, I got the superior acid.
Yeah smell yeah.
Some area of my life I need to stop ignoring that thing.
Yeah, give me an example before I let you go. We're talking about making a hierarchy of needs, and you made the comment, look, something is going to be quote unquote cheated right when your time, your energy, maybe your money is limited.
And how important.
I've often said, the most powerful or one of the most powerful words in the English language is two simple letters.
No.
You just said the ability sometimes to say no. Give us an example of something that if you're making a hierarchy of needs, that you might find yourself having to say no to where you weren't before.
Well.
I think sometimes as hobbies during this particular season, I love this hobby, but it's not as important as whatever my health. It's as important as my marriage's not important to my times with my kids. It might be, Man, I've been really good at managing controlling things.
Man, it has.
Really caused all kinds of anxiety and pressure because I've deluded myself into thinking I can control people in circumstances, and I need to start prioritizing surrender, letting go, reallying I can't control things. It also could be as simple as do you know I was talking to an executive about four months ago, and she was saying to me that I only take certain requests for speaking engagements and for priorities, things that are related to these topics. And
she's very well known, she's very sought after. What she says, of the hundred things I can could do, I say no to things that are not this passion point related to specific coaching for companies and related to this specific thing relate to marriages, because my husband and I went.
To a difficult thing.
We wrote a book about it, and we want to help other marriages do what we did. So that person knew their mission, they were qualified to do a thousand things. What they said, I only say yes to speak engagements relate to A or B. I talked to a church recently who they say yes to everything. The whole staff has overwhelmed, all the organizations overwhelmed because I say yes to everything, and I say, listen, you don't really have a mission statement for your company or for yourself if
you don't know what you say no to. Because when you know what you're good at, what you're focused on. And even as a person like for me, I could do a lot of things. I'm a generalist very much so, and I enjoy that. But I'm trying to organize my business life around what are the things only I can do for the company. One of the things I uniquely can do to advances forward? Then how do I delegate the things that I could do but other people are better at? So do you know what you uniquely can do?
And say I want to prioritize what I uniquely can do for my family, for my company, for my kids. No one else could be my kid's dad but me, no one else can may be maybe the strategic thinker. You've got to be putting more and more time into the strategic thinking and get out of the bureaucracy you're doing. I'm a creative teacher. I need to spend lots of
time creating and focusing on that. So I got to say no to a lot of meetings I might want to be part of, might want to be important, but it's not going to help me do what I uniquely can do for the sake.
Of my company.
Great stuff, Pastor, Chad Hobn, thank you so much, as always for your time. We'll get to part four in our series. Than me I want to be next week. Hope you have a great rest of your day and a great weekend, my friend, you too, all right, Chad Hoven kind enough to join us plain glass, stained glass each and every Wednesday right here on the Morning show. That's great stuff, I mean great stuff. You don't have to be some you know, Jesus believer, you don't have
to be some fuck. These are very very simple sorts of things that we can do to be the me I want to be. All right, let's see what's happening out on the roadways, Chuck Ingram. What is the very latest, my friend, is the snow gets closer and closer allegedly.
Well, I think we're going to dodge the bullet there. As far as the snow, I'm not seeing any weather issues inside the two seventy five loop. Now you go a little bit further south, they're having all kinds of trouble at Louisville and also in Lexington, Frankfurt, those sort of areas. Yeah, there's plenty of slick conditions there. But
here it's southbound seventy one that continues to struggle. This from the UC held Traffic Center, you see cancer center offers advanced surgical options for complex liver and pancreas cancers and clinical trials you won't find anywhere else. Get a second opinion now called five one three five eighty five. U sec SE crews continue to work with an accident just after you get past Fieldszerto. It's in the clean up stages, but right now the left lane is still block.
Traffic is backing up to Western Row. Southbound seventy five continues slow in and out of Lockland. Northbound seventy five just about clear out of Erlinger into downtown. There's a wreck on Tylersville at Butler Warren Chuck Ingram News Radio seven hundred WLW all right our.
WCPO nine first Warning forecast, presented by Jennifer ketch Mark. We are expecting that snow that Chuck was talking about. Apparently he must be moving a little slower than perhaps anticipated very early this morning. But we're looking at between now and one o'clock roughly, and it could vary a little more a little less roughly about an inch of snow and it will stick, which could create some slick
spots in the road. So, especially on your way home today as our temperatures begin to drop getting into close to night time, be careful please Tonight down to twenty seven were dry tomorrow, mix of sun and clouds thirty four, but wind chill in the twenties Tomorrow night low of fifteen, when chill in the single digits. And the big question we're all asking, where are we as far as this massive storm that is making its way across Middle America
as we get closer and closer to the weekend. Hey, look, if you're thinking about a little more love in your house, maybe a little more exercise, get you outside, go adopt a shelter pet today. I promise you you'll be healthier, you'll be happier, and more love in your household. Eight fifty six Sloan. He's coming up next on the Big One seven hundred WLW