00:19good morning welcome to the myers report fast 15 it is friday july 31st 2026
00:27while most expert climatologists are reluctant to make tomorrow's forecast because they are more
00:34comfortable predicting the year 2100 when nobody will be alive uh well that's not the way our our
00:41own guy don day is i have never heard him forecast 2100 but he does forecast tomorrow next week and
00:50even next winter he is specific relevant and almost always dead on the money our logistics guy
00:58isaac isa is still traveling we hope he's back next week bob janetsky our economist with one point of
01:05view as opposed to on the other hand will riff on the wafting strains of strange economic notes that
01:12are in the air these days don is the weather in the lower 48 as boring as it seems well
01:19it's just
01:20typical summer we've got a little bit of this and a little bit of that but we're going to go
01:24into the
01:24first days of august with no tropical activity in the gulf or along the southeastern united states as
01:31august you know we're getting into the time of year now we're we're getting into the beginnings
01:36where hurricane activity does pick up but no signs of that here anytime soon uh we are getting
01:43some welcome rains coming into the western and northern areas of the corn belt and a little bit
01:49of a break from the heat in some areas will be developing next week so really just kind of going
01:55through the motions with typical weather for this time of year um so there really isn't much in terms
02:01of hurricane activity is anything happening in terms of storms anywhere in the world
02:06well in the pacific and we expect that during an el nino during an el nino which we're certainly
02:12in a strong one developing right now the atlantic activity drops the pacific activity goes up
02:18we had a typhoon affect parts of taiwan and southern japan here uh right now as we speak and
02:25into the weekend uh but at least from north america standpoint so far we've been dodging most of
02:32the bullets so far okay uh now spain and france are having the wildfires that we saw here and in
02:40canada yeah in fact if you look at a map of europe here over the last 90 days this shows
02:49the
02:49precipitation anomaly and you see all that red and brown over france the uk and spain so they've had a
02:58very very dry summer they've also had a very hot summer and you can see the bullseye of the heat
03:05uh has been centered over france and spain so they've had a hot dry summer and now they've uh
03:12here in the past week or so have had a lot of wildfires especially in northeast spain and into
03:19southwest areas and southern areas of france now these areas are susceptible to wildfire
03:25um and certainly the heat and the dryness has exacerbated it well aside from lightning strikes
03:31which we know can can spark a fire uh can spontaneous combustion create a spark of doom
03:40no in fact you know i looked up some statistics and you know in the united states it's estimated that
03:4687 percent of wildfires are human caused in france it's 95 percent uh 95 percent 95 carelessness is that
03:57arson yes to both um and and also i found this out that 430 people have been arrested in europe
04:06this
04:06summer for arson uh 162 in france portugal and spain 134 greece 122 so not all of these wildfires are
04:18arson
04:18but they're part of it and that's part of the equation let me ask you are these people uh
04:25climate change people that are trying to uh prove a point proactively i can't prove that my i i have
04:33a
04:33very strong suspicion that during these heat waves in these dry periods that fires are started
04:39intentionally to to raise awareness of of climate change and of course if you watch how the press
04:48reports it it falls right into their hands so if they are doing it and i expect some are they're
04:54being
04:54wildly successful you know i have yet to hear anywhere in the press the words arson and you virtually never
05:02uh hear anything today about smoky the bears only you can prevent forest fires that seems to be gone
05:12dr bob janetsky even though sir even though uh yesterday's oil prices closed at 83 a barrel and now
05:22they're up to 85 but as of yesterday that's 26 percent lower than their april peak of two of 112
05:29bucks
05:30interestingly enough despite the recent increases the july average uh for west texas intermediate
05:37is 77 dollars and 50 cents which is down five percent from last month how is this going to how
05:45is
05:45this going to show up in next month's uh inflation reports well it should should show up as a positive
05:50number but i don't think it's going to be very positive you mean beneficial you don't mean
05:55a lower number that is yeah it's going to come out as low inflation but it it isn't going to
06:01fool
06:01anyone people know what the prices are when they go to fill up their uh their cars uh they know
06:07what
06:08the current oil prices are and they'll know that even though we get one month's reprieve that the
06:14following month is not going to be good news but you were right oh excuse me despite all this how
06:21despite uh what's going on in iran how are the stock markets doing stock market has essentially gone
06:29nowhere for quite a while the most recent trend is downward slightly i have a short-term stock market
06:38model and i've talked about that from time to time that has turned neutral uh we we've actually had
06:46um if if the market is down today and it's down as we're speaking we will have had seven days
06:53consecutively where there is a slight bearish reading on the market now when i say slight anywhere
07:00between minus one and plus one it's all neutral territory neutral meaning that the odds are basically
07:08pretty even as to what we can expect in the next two weeks and those odds are going to depend
07:14on what
07:15what happens with the war in iraq and what happens if there's any dramatic change you noted in the
07:20economy or in oil prices so again we're at that position where there is no clear bias one way or
07:28the
07:28other in terms of where the market is going near term longer term we are optimistic you are optimistic
07:36and i am as well we expect things will end up in a very positive direction and incidentally the markets
07:43are also saying that if we look at the futures markets for oil they're suggesting that it's going
07:49to remain roughly 85 a barrel through september and then as we go toward the end of the year it's
07:56going
07:56to drop back to the mid 70s so the markets are assuming that things are going to get better but
08:02not
08:02immediately bob you were right on your call that the fed was going to hold interest rates steady
08:09how are the interest rates markets how the interest rate markets doing in response to this
08:14well the interesting thing uh the idea of the fed holding the interest target for short-term interest
08:23rates in one place i believe is actually a negative for the economy it's a negative that they want to
08:31control these markets now the fed chairman has recently said that he wants the markets
08:36to feed back the best information as possible on where short-term rates should be and i agree that
08:45that should that should is what the fed should do however if the fed's going to do that they shouldn't
08:50be
08:51buying and selling securities to keep the interest rates artificially at where they want them in other
08:58words they are really distorting the market signal there they are the fed seems to be buying a little
09:04some small interestingly enough in the past month the fed has only purchased uh seven billion dollars
09:12of securities now that compares with an average of anywhere from 20 to 50 billion in previous months
09:20so they're coming close to doing what i would suggest and that is don't get in there distorting the
09:26market let the market tell you what the signals should be if the short-term rates are under upward
09:33pressure let the market tell you that don't try and buy and sell to force the market to do something
09:39other than what it would otherwise do that would be sort of like don trying to force and change the
09:46weather yes yes our question for the week the big news of the week was dr fauci and his 111
09:56uses of
09:57the fifth amendment before congress uh don what is your take on where public opinion will go from here
10:05and does he have any credibility left on the advice of my counsel i respectively decline
10:14just kidding so no i i think i mean there's no credibility left i mean there's still going to be
10:20some people hanging on but the whole trust the science crowd uh taking one on the chin here
10:26no kidding uh uh bob what is your take on this yeah well i very early on uh i ended
10:36up
10:38exposing uh dr fauci during the height of the covet crisis and i did it not because i knew anything
10:45but because i listened to a number of videos from people who were experts in hold it a second i'm
10:52going to interrupt you you did a lot more than that you were tracking statistics up the wazoo from
10:59all over the country tracking what the cdc was reporting you were doing your economic statistician
11:06bit to the max and the bottom line of the that i reached in the conclusion of watching all these
11:12other
11:12people who knew what they were doing is that theoretically fauci did not know what he was
11:18doing he could not explain the whole infectious disease process in the sort of detail that we were
11:25seeing with people who are actually experts so he was at a total loss just kind of making things up
11:33and it was it was very disappointing very discouraging and an awful lot of people got hurt as a result
11:40of
11:40that well the only thing i would take issue with you on what you just said is i think that
11:48fauci isn't
11:49is evil because he his what he did was self-aggrandizing and cost people's businesses uh he prevented
11:58businesses failed because they couldn't get people to show up to work and worse than that a lot of people
12:05died that did not there was a lot of damage early on there was no evidence that the vaccine was
12:13successful at doing anything except causing major side effects and problems for people
12:19as a matter of fact my granddaughter ended up being forced to take the vaccine and ended up with a
12:27heart
12:27problem as a result of that and that was just one of the many side effects that you could get
12:32so we had a vaccine that had not been proven to be effective that was that everyone was told was
12:40effective oh they listened to this fellow and he had no basis for what he was saying it was an
12:46absolute
12:46tragedy but it's over and done with i think the only justification is that a lot of people a lot
12:53more
12:53people today know that he was not the expert that he was pretending to be how old is your granddaughter
13:00and how's she doing oh she's she's she's doing fine she plays professional hockey but she still has
13:07professional hockey yes she doesn't she doesn't quit okay don do you think that fauci has any
13:17credibility left no i don't you know and the other thing it's just not fauci fauci wouldn't have been
13:23uh so prominent if he didn't have a whole bunch of enablers which he did uh in the media across
13:32the
13:32media spectrum the pharmaceutical companies they were they they were running cover for him the whole
13:38time and i think they should be they should be put in front of congress as well this is really
13:44very
13:44similar to uh the the false climate change crowd there there there there there's a lot of if you
13:52look at some of the big vocal people they're in the same group with the same funding and the same
13:59objectives yeah all right on that happy note are you optimistic about the future bob oh yeah i am i
14:08i think
14:08things are going to work out really well i see a lot of encouraging developments in ukraine uh recent
14:15reports of russia's forces moving back and of course all the pounding they've been taking from
14:21the iranian drones and missiles um i think that war is going to end it's just a question of time
14:28and we
14:29all hope it's sooner rather than later i think it's going to end and i see the same thing happening
14:32in
14:32iran from what we understand it should end after september after the russian september duma elections
14:40it couldn't come soon enough okay don are you optimistic going out going for the future
14:46yes yes i am okay i still am too i hope we're all not nuts with that have a good
14:53weekend be well
14:54stay safe and god bless america
15:01you
15:02you
15:08you
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