okay uh welcome everybody it’s uh mayday mayday the markets are falling oh good it’s not looking good brett’s tick-tocking over here that’s fine well i have to do something positive in this yeah because it is shitty out there yeah everybody when they say it’s raining like theirs everything you bought we bought on saturday and friday is not worth money today you know but that’s uh but i will pay up on my bed oh there we go i was really wishing i wouldn’t win this well that’s the thing so i figured out how to if we would have been doing that four dollar copper and i might stitch yeah we should do a hundred dollar bet every month god damn i don’t know if i should be betting anything right now i’m uh you’re the only person i can beat you may not have bet man um well as i said copper’s down 20 cents i saw it this morning i haven’t even had time to really read any articles on why i assume it’s got something related to china yeah if i had to explain anything well i think that basically like
gdp missed like you know some of the manufacturing ism was like lower than anticipated jobs were slower but inflation was higher so i think that’s part of it it’s like a dollar inflation dollar still dollars a 20-year high you know so that’s a big part of it currencies and so it’s you wouldn’t think that the dollar as much as many dollars as we’ve printed in the last you know two years um would be as strong as it is but it’s still like the cleanest turd in a cesspool of turds right so it’s like i think that’s is that a good sign for the overall economy or a bad sign i don’t know i’m not really an economist i just kind of just you know like we play the cards we’re dealt and we’re trying to read the tea leaves a little bit and you know but more short-term stuff you know on the day-to-day and then long-term stuff like where do you want to position yourself but you know i don’t know i mean i feel like i feel like this market still has legs but you know china
locking everything down and on creating supply and logistics issues i was reading an article this weekend and they were talking about for every week that like your main shipping ports in china are shut down it creates like two it’s like six weeks or two months of basically shipping issues at other ports in the world so it’s like for every week they’re closed it’s just creating this like situation that’s going to start really domino yeah like months and months down the road so i know logistics is is going to be you know a conversation that’s not going to go away um anytime soon so well talking to jake bronstein from indiana like he’s having a hell of a time getting trucks to get in and out of there in a timely fashion yeah he hasn’t been able to justify letting his truck sit there for six hours yeah you know so like even just getting in and out of a like a male or shredder or a shredder and then people don’t people aren’t even people are canceling these contracts and that’s happening nationwide yeah i know um i think it gets stickier before it
gets better so then you kind of got to pick and choose your spots right um i’m not i’m not such a pessimist i think this is like the end where this everything comes tumbling down because i feel like you know at some point the pessimism you know goes away and there’s some optimistic opportunities like there’s something that you know that to look forward to and i feel like i mean china isn’t going to leave their economy just shut down forever i mean why is it shut down kovid is what they’re saying you know like that’s the narrative i mean i’m a believer that sometimes the narrative isn’t exactly always what the truth is but it feels like you know for now that it’s a covet issue and they they lock down they get open if things like it feels like things should run again but that’s cool i feel like yeah they’ll probably stimulate their economy i mean they’ve they’ve already came out and said they’re gonna support their economy but right now it’s like anything right it’s it’s all bad news and the fed’s about to raise rates this this week which nobody
likes to see and they you know people anticipate you know a half a percent and if you know i don’t i don’t think they’re going to come out and shock the market and go like you know three quarters or you know i feel like they’re going to kind of stick with the plan of a half percent and if that’s the case then and people are still trying to digest that and last week on the stock end was they had a couple good days you know had some rough days to begin the week and yeah bounce back a little bit but on the commodities commodities is where our focus is and it you know it could soften up we’ve had a hell of a run so you know time will tell it’s been a great ferris is going to be rough this month i mean i haven’t got any firm numbers yet but it’s looking right yeah depending on the grade you know depends on what you have to ship i mean primes are gonna get you know whacked but then again like primes were up big money last month and the month before so
it’s are they just taken back what what was like a month or two you know like even us we get caught up in the short term in like a three month scale you know where like uh like that mark that price sucks you know copper down 20 cents is shitty but then you look at it another like oh 420 copper is something we would have been dreaming about like not that long ago here’s this is how i look at it right and it’s still but your money’s made on your buy and you know and not as necessarily as much on the sale but it’s like uh somebody that makes 15 an hour and then all of a sudden they get paid 20 an hour so all of a sudden you’re like okay i’m making 20 an hour to come to work today right and then and then the next month you get paid 15 an hour again right it’s kind of how the scrap market the commodity is gets you know gets looked at if you’re looking at it from the short term you’re like well just a month ago i was i was
kind of happy making 15. so i got to make 20 for one month but now that i go back to making 15 it this sucks you know well and i in all reality like you just you just got a month you just got a month or two that you got you got paid 20 and and so it felt good you know and so and i feel like on scrap and commodities and it’s treated similarly so sometimes you have to remember six months ago or a year ago and be like well i was still feel pretty good about you know 450 dollar iron or 500 iron or 600 or whatever right like 420 copper i mean you can get all caught up in it and say this is terrible we’re off 20 cents or you can be like hey it is what it is like that’s life like you you can buck up and take the 420 and move forward or sit around and lick your wounds yeah we’ve done it before i mean with any yard that’s been open for a while it’s been through these big turns i guess we might have to
get used to enjoying fifteen dollars an hour again which i can yeah yeah it all comes back down to how you where you know where you at where you put your lifestyle you know at the end of the day it’s just it’s the same thing like if you get super super leveraged you know then you got to figure that out you know when everyone’s talking about inflation i would tell you guys everyone a quick story of how i saw inflation be extremely true i bought a bike for myself in 2020 and i bought it was it was expensive for me to spend how much it was like six hundred dollars that’s what i was willing to spend for a good mountain bike i could take it up to bogus base and stuff like that yeah my wife doesn’t have a good bike so i kind of wanted to get her on some trails so i’ve been looking for a bike so i went and looked at that same bike because they have a smaller one and she would work perfect for her yeah that bike costs a thousand dollars today it’s in two years
inflation sucks i mean i see the gas prices and all that but like i really saw it with the price of that damn bike same exact model yeah two years later so you’re gonna buy a bike hey we don’t know much about scrap but if you’re gonna buy a bike it’s gonna be expensive wait for the sale have a great day thanks guys