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Full Show 6-23-16

Jun 23, 2016|

Full Show 6-23-16 by The Financial Exchange

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This is the financial exchange with the very Armstrong and shut sun out. Tour exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks. Have friends that vote is occurring as we speak and chuck it would appear to be that somebody knows something because globally. Stocks are on the rise stocks around the world up around 1%. Yeah you are you've seen especially over in Europe needed CA a bump in all of the major indices up around 1%. This as you know it still is expected I think to be a pretty close vote based on her out of the hole there. But again we don't know you know we saw this with Scotland last year where it was expected to be a close vote turned out not really be as close people thought and you wonder if you can see something similar. Well I I don't know I I don't know I know whether is a factor I saw a report that the if torrential rains occurring in England surprised and but I hit Victor the point where they're suggesting. That the referendum voting might be disrupted I don't know if that's true or not we won't know until probably Monday or Tuesday we'll get numbers in terms of how many people voted in about 46046. Million people that are eligible to vote. Do you think the government supporters had anything to do with the weather I think it probably did yep I think he would then added that it's very likely. It's very likely to rate jobless claims came out this morning around 8:30 eastern time Mike how to handle on that of 259000. Yet 259004. Weekly jobless claims here. That number is eight decline from the previous week. And when you look at this in terms of the four week moving average which. I tend to look at that four week average is because it tends to be a little bit more stable. We continue to be. Really and in a pretty good spot there 260 to 7000 jobs on average that's the number of claims per week down about 4500 from the previous week so you're moving in the right direction there in terms of jobless claims. This may just be case where what you don't have a ton of people going on unemployment. But Jonas or they have a a set of skills that match up with the jobs that are out there and we may see higher remain weak because of that even though not as many people. As previous they'll lose their jobs. You know it's funny that we're gonna get that next unemployment report the week of July 4 July 4 we have horses on a Monday or is that Friday that Friday. Is when we're gonna pick up that report. That's that's going to be very closely watched report truck because that's gonna have influence over the Federal Reserve. It's expected that I don't think anybody's expecting a July rate hike as one in ten chance. Yeah I think the that the July reporter rather that the report we get in July for the month of June. Probably the most important one that we've gotten in about eighteen months now. I would I would put it I don't at that level of importance just because. We have so you're seeing this negative trend develop over the last three to four months now and you need to see something I'm curious what happens. If we receive resumed growth in construction like we have seen previously. Our report yesterday though they really perplexed me Janet Yellen giving a second day of tennis testimony in front of congress this week. And she said yesterday. That she thinks the labor participation rate will continue to decline. Yes she had that didn't have this on curious TO was she was looking at the the overall participation which I think will just because you do continue to have more people retire and you look at. You'll get the baby boomers right now I'm more right in the middle of that retirements. And you are going to have more people dropping out of the labor force simply because they are retiring at the the number I want to watch in the number that I think we should watch. Is that age 25 to 54 participation rate because if baby boomers are retiring right that's a good thing actually like that that that is not a bad thing if you have a million people age 66 A you know what I'm saying now that that's a good thing for the economy so. I think from my perspective I wanna watch with that middle age bracket does that that's the key you watch that more than anything else. Yeah because the rest of the can be skewed by by demographic trends that. That is largely something that's impervious but you know we even talked about how there. And educated males. Unfortunately have not been participating in that demographic the same way they had previously and that's something that I do want to see. If we can figure out a way to address because that is a major props for his. Macy's announcing that they've got a new CEO coming in. The stock is up about four point 6%. Macy's chief executive Terry Lundgren. Will set stepped down from that role next year as the company struggles to adapt to changing consumer demands why that's a polite way of putting. Yeah he's been the CEO since 2003 who's been there for thirteen years. Taking a look at Macy's stock price since then in 2003 when he came on board the stock was trading. It depending on I don't know the exact date he came on board but there was anywhere between about 25. And 49 dollars a share over the course of the year. It's a thirty or so effectively you've seen no growth in thirteen years February Meeks he shareholder. I think there are some very real questions about the future of this company I think they need to makes a pretty quick pivot in order to stay relevant today. What happens to all these old companies he would like you look at games such as Macy's we can't pay you you look at Neiman Marcus you look at. JC Penney you look at Wal-Mart you look at all these old traditional thinning of the heard it really is but it's it's. Do you day. Somehow merged together in an effort to fight Amazon I tell you the Amazon invasion is just becoming an overwhelming for. What's interesting is I do think that as. If you will see a couple of these companies go out of business I don't know exactly which ones are going to because. Even you look at Macy's they are still profitable right now the just nowhere near as profitable as they should be and they're not growing or shrinking shrinking. But I do think at a certain point you get to a vacuum where there's still going to be some demand for. Brick and mortar retailers ever gonna go away completely you know I know that. And the question that I have is who comes into. Feel that because when the big problems that these big legacy companies have they've got a ton of debt on their books from expansion that now has not paid off there. And they are going to be new companies that spring up in the next couple years that don't have that level of debt. That may be are able to take a more measured approach to growing and I think are able to fill that niche but I don't know what what cup. He's those are. It's the retail space. In with the exception of of restaurants. Is just a terrible place to be right and even what the restaurant in street not an easy business either to begin with and that's a tough business but my. My knee of observation is that people still enjoyed it dining experience yes people you know even though you can get it delivered right there's a number of different applications that lie you have dinner delivered to your home. People like to go out to social thing to do it if there's an experienced leadoff to cleanup the kitchen you have to wash the dishes you have to do anything just go out and yeah we'd. And I'll tell you what the big delivery experience I wanna talk a little bit about that though because it is something that I've noticed that I probably spend more money now that those are available simply because. If I look at the way that. I used to go that figure had dinner and so forth he's been during the week look I don't necessarily wanna go out there in the weeks have got work the next day in this and that so we'll stay home and cook something. Now if you can have you know food from a legitimate restaurant not just you know up a pizza from dominoes delivered. You sit there and say okay. I you know those restaurants are able to tap into more people during the week and I think it probably moves out there cash flow a little bit on a weekly basis yes they're good at it you know it's not as heavy on its probably as heavy on Friday and Saturday that maybe you pick up a little bit more during the week. Because of them that there's some restaurants that lend themselves to delivery rate Chinese has always been a delivery type food pizzas stories being delivery tight end. But hamburgers and the delivery food up to look I get at this point it's who should do now. You know it that's a good reboot that's a great food to deliver three years ago I'm not sure hamburger fry I was telling them that I agree delivered I mean it's you know I have it in it's because I'm a weekday sometimes they get home and mostly. I would give state delivered though would you guess Tucker would you. We are seeing on and a nice folate anything with a red meat market delivered to I think it's saudis I think are serving burgers you could do. Now me if I'm gonna do burger I wanna. I either especially Fries I wanted frankly can't thank you through Saudi Verizon can't do right now for a prize or a real problem and take eat candy to burger without Fries. Per there's well a ruling that. And arterial. Up next you guys know anybody that's been impacted by Harrell India I mean it's rampant throughout the week that was the on the tape yes that he you're a New Hampshire Connecticut I mean heroin deaths. Are rampant in the big problem is. Fentanyl and I I don't fully understand all of this. The crisis that is going on. But near we're going to be joined in the next segment by Jeanne Whalen from the Wall Street Journal he wrote just a fantastic article. About the Chinese connection fueling America's fentanyl crisis CIA of for the longest time job. I had been under the impression that this was all coming from Mexico. Turns out we may have the story wrong where to try to straighten it out in the next segment with gene you Ellen. From the Wall Street Journal from our insurer match dot com studios. How all the upcoming election affect your finances and your business playing no right here it's the financial exchange on the financial exchange radio network. If you're casual observer of the stock market we have an interest in net diversified portfolio please pay close attention to the following message understanding how to build a well rounded investment portfolio is one of the keys to being able to withstand market fluctuations that means you need an advisor who can create a global investment strategy that includes the international markets Japan is one of the world's most developed nations and it's a leading manufacturer of highly visible products that are top performers in the air industry if you're advisor hasn't spoken to you about the value of international investing then called the Armstrong advisory group at 803934001. And ask for our free guide on investing in the international sector that's 8039340012. If you're looking for a great deal on a new counter program you should check out the -- rewards program to leader bank is now offering it's and checking account along with the companion savings account and as long as you qualify you'll receive free benefits first you get a savings rate of two point 05% annual percentage yield up to your first fifty -- all of your ATM fees from use in other banks will be reimbursed and you'll get 1% cash back by using your debit card and visa credit purchases just sign up for the statement with the account direct deposit at least 1000 dollars per month and do a debit transactions per month cult leader bank right now at 8776917900. To learn more about the -- rewards program that's 8776917908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards will learn zero point 10% annual percentage yield on savings balance member FDIC. Barry Armstrong here and I'm joined by Todd what's key from the law firm Cushing and dole and we're talking about Medicaid income trust Todd if somebody has done their trust planning what is the biggest red flag that they should be looking for in the drafting of their legal documents you know you need to do to really take a look at your documents and look for certain paragraphs that must be in there. In certain paragraphs that should not be in there for example it's OK if it's as you have the right to the income. That's perfectly okay but you want to make sure there is actually a paragraph in there that prohibits you to get the principal directly. He can get them directly but not directly and if you don't see it say you're looking for your document you say well I see that I have the right to the income. But it just doesn't say anything about my ability to get principle in other words it's silent as to principle that is probably the single biggest red flag you can have because. If you don't spell it now the State's gonna come back and say hey because you didn't deny the rights to principal in the state you're probably can get. The states are doing this because they're under tremendous financial pressure I'm sure there. And I think because there are also learning that a lot of lawyers have been practicing in this field for a very short time and are drafting these things incorrectly in the winning. And they're playing their winning went when they're drafted incorrectly but the positive front is there's been a lot of cases lately saying it's been winning. For the for the people. Todd what's he's making available a brand new guide it's designing the perfect in come only durable global trust that's a mouthful. But if you'd like to get a copy of this guide call toll free 8668485699. There are operators standing by right now. To process your request. 866. 84 rate. 5699. That's legal exchange showed dot com if you wanna download the article or call poll free. And get your copy of this brand new guide. On durable global trust 8668485699. Securities are securities America ink member in SIPC advisory services are securities America advisors. Are represented our advisory group and securities America companies that we. Only this there at the charts graphs and numbers all day and just listen to us it's the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio network. I. This segment of the financial exchanges brought to you in part by liter bank it's not too late to get a great rate on hold mortgage. Leader bank has some of the most competitive rates around. Call 8776917. B 900 or visit leader bank dot com. For more information our guest is Jeanne Whalen from the Wall Street Journal. She joins us to talk about the fentanyl crisis in the United States hygiene hurry. So first of all could you explain to us spread the news many of us aren't familiar with heroin and fentanyl what is fentanyl. I know is a need for it it's very similar care that has same euphoric effects. But it made entirely from chemicals that kind of repeal the poppy. There are all all of these drugs fentanyl heroin and prescription pain don't are all very similar to opium. And they're they're for called calculate. Does it. Does it look the same as heroin do you inject terror like how do you. Yet you can't injected capital from time old as the white powder and heroin and also current powdered form that they bacon looks similar and that way. And yes you can intact at many people do or hurt increasingly now it's being made. In two. Counterfeit pills they get polled on the street and and get past stopped as. Painkillers like prescription painkillers which are oxy code out that they but the pill actually contain capital. Now I've heard from law enforcement that the drug addicts that are using these can't tell the dip lately out don't understand the strength and that's what's leading a lot of overdoses. That's great yeah a lot of times. Sentinel is XP into heroin as you know powdered powdered heroin and to give it a bit of a boost and also because cheaper than heroin itself to pretty. And people in that. Taking it and not realizing that there is and go in there which were. More powerful and early and they can be that way and think good credit and kill some people think they're trying. OxyContin. Street you know when it contains fentanyl sentinel much stronger than oxy and it can kill people. Now where is fentanyl made. Almost all of this supply comes from China according to use the US official it's made in. Very factory to repair. Could be legitimate factory and it could be. Illegal factory kind of clandestine factories. Exact. Origin is still a little bit unclear. But definitely it's coming from China it's being shipped. Either directly to the US we're being shipped to Mexico where cartels smuggle it into the it's an opening shipped directly Canada well Canada the big problem. How do we don't read about it Chinese crisis with fentanyl. No it externally itself apparently has not taken hold within China in China have gathered around. Drug addiction problems including math but at sentinel for whatever reason have not taken hold. And and US officials that app that's part of the reason that Chinese have been slow to crack down on this is not experienced in the same problem now. Is it cheaper than heroin. It is it's well it's certainly cheaper to make it because they get hit it and turn it chemicals you don't have to say control plot of land and grow poppy harvest them. And on the street re can be cheaper than heroin addict has to be work and that is well because it's more potent. Sort of depends on who's doing the marketing. I have the a a client who treats people who are chemically. Addictive drug addicts and he said that after one use of this you're hooked it is is it. Isn't that addictive. It that can often be the case and that that's true heroine is well in a lecture in any Opie were a drug there are extremely powerful and extremely addictive and people referred cute chasing the dragon and you get this incredible high paid the first time take it if we don't start for it and people are we she's sick at mean incredible first time high again which becomes harder to achieve the war cost in your body get. Two deterrent. Knew you'd detailed in your article today how this is getting into the country. You know the not only the drug but also that what you were described as a bill press right. That's great editor a lot big chemical and that drug that well occurring from China and also that compresses that traffickers used depressed. The powder pills such. LB still this state OxyContin or sick or crow on the street. It is China have no regulation of cold presses so. The company's airship come out really. The US does regulate and sped off and they're rising US port mislabeled as other good. One in Los Angeles arrived at the LA airport labeled as big hole puncher he's trying to act at least 235. Kilograms. So lots of lots of scheming going on to try to get expresses than to be that. We read about the deaths appear in New England you know Connecticut has a problem with this not use its New Hampshire. Is this a national problem or is it just know the northeast. No no it's it's totally nestled in the northeast has been very hard hit but still had appellation parts that west southwest. Ayers being increase in over devastated after the decoded. Florida it's it's everywhere now really it is very bad crisis. And and how is it being combat it or is it. Well it'd be Obama administration has me a lot of effort I think to step up. Treatment. Days and congress has been trying to pass legislation to fund more treatment at state level. Certainly state themselves are doing war but it. That is a lot of communities say that they are still isn't creek accepted treatment clinics. That the treatment is not well funded by insurance Herbert Medicaid. Airing it then can we difficult addiction to kick so people don't need very long term. Treatment including office in the use of medications like. You print or Sheen or that the error which help addicts kick their addiction. Give any stats on the death rate among addicts to. I I commuted I think last year there were 47 or 48000. Overdose that's in the US firm. Drug and most of those were caused by OP. What's the average age of that individual Diane from. I don't I don't have an average the average age I have heard into the state that ball of gas are. Between it twenties in late forties and clean debate don't quote me on that. Let them you know 47000 overdose passed last year was higher than the number of traffic death. That's traffic accident that we are now dying more often from drug overdoses and car crash. Is it still accelerating or is it leveled off. It is certainly was accelerating last year I would won't know disappears rate until the end of the year that. I don't have a happy about but certainly at the plaster that accelerating. Or get Jeanne thank you very much for your time we appreciate it. You know eat if you talk be it comic timing I spent talking to law enforcement officials guys that are cops. They'll tell you this is the number one problem because it's not only they're dealing with the accident the V addicts are committing terrible. Crime what's the crime that you you partaking in order to either get money or to actually get pills that most of the crimes committed in their own fame right it's a lot of countries stealing money here vehicles from your family or things like that I mean it's. It's it's really terrible now and it's it is absolutely an epidemic at this point if you know I would I think most people would be hard pressed to say they don't know someone who's been affected by that may not be them directly it may not be a direct family member on any cuts across. All social boundaries that gives you see this with I mean you know how you know high income white collar Arturs you you see it across pretty much every spectrum here you know well educated people across you know poor wealthy it pretty much pretty recent dollars and youth from it it seems like we've been reporting on it for what three or four years tops. It's it's really exploded in the last three to four years there are couple different theories as to why that is one being continued over prescription of painkillers it's cheap another one being the fact that you did see a lot of people lose their jobs during you know the last 67 years and they turned. Two I think cheaper alternatives to actually you know prescriptions that they might have been on that's why eighteen people go to heroin and other analysts. It's up next we're gonna learn what 812 Leo it is that's next from our insurer match dot com studio. Making your Smartphone even smarter. Dell Motorola mobile labs like searching financial exchange joke in nineteen Jordan who. Who played stores this is the financial exchange radio network. Understanding how to build a well rounded investment portfolio is one of the keys to being able to withstand market fluctuations that means you need an advisor who can create a global investment strategy that includes the international markets many products made in Japan and across Europe are extremely popular in the United States particularly those from the auto and electronics industry it may also be beneficial to consider a foreign nations diversified low cost index fund wore one of its exchange traded funds if you're advisor hasn't discussed the value that exists within the international markets been called the Armstrong advisory group at 803934001. And asked for our free guide on investing in international sectors that 803934001. Security suffers securities America incorporated member and SIPC and advisory services officer securities America companies incorporated Armstrong advisory group in the securities America companies are not affiliated and investor cannot invest directly in an index past performance is no guarantee of future results. If you've been thinking about starting obviously cleaning process think about this what would you do if you spend money working with an attorney to put -- stay clean and place only to find out that when it comes time to go into the nursing home or trust wasn't designed properly that takes five years to protect your assets from the nursing home and you need to make sure that you are wasting your time and your money on legal documents that don't work Todd lets you from the law firm of Cushing in Dolan has written a brand new article called designing the perfect income only irrevocable trust that contains language that must be included in your trust and the language that absolutely must not be there coma now for your free copy and give your own trust and check up at 8668485699. Cushion in Dolan has been helping families protect their assets for more than thirty years let their experts help your family 8668485699. That's 8668485699. Or download the guide on our website had legally change -- dot com that's legal exchange showed dot com. If you're looking for a great deal on a new counter program you should check out the -- rewards program to leader bank is now offering it's and checking account along with the companion savings account and as long as you qualify you'll receive three benefit first you'll get a savings rate of two point 05% annual percentage yield up to your first fifty K all of your ATM fees from you -- other banks will be reimbursed and you'll get 1% cash back by using your debit card and visa credit purchases just sign up for the statement with the account direct deposit at least 1000 dollars per month and do a debit transactions per month cult leader bank right now at 8776917900. To learn more about consumer rewards program that's 8776917908776917900. Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards will learn zero point 10% annual percentage human savings valid member FDIC. I am very Armstrong from the financial exchange and I told you about leader bank many times I've taken advantage of some of their super offers and I'm here to tell you about another one there are offering a tremendous deal for small business loan this offer is only good for a limited time so if you own a small business and you're looking to make improvements this is a deal that you should really pay attention to you can secure a four year loan at fixed rate of three point 99% with absolutely no closing cost alone can be up to 50000 dollars and leader bank promises a two week turnaround in under ready for decision that's a four year loan at a fixed rate of three point 99% this is a tremendous offer but it's only available for a limited time caller right now 8776917900. That's 8776917. B 900 and you can lock in to this great offer 8776917900. Or visit them online at -- bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Hi this is Marc bureau CEO of insure a match and proud sponsor of the financial exchange with Barry Armstrong like Barry we know that to build a solid family plan that includes financial stability and legal flexibility unique to have all your ducks in a row that's why at the insurer matching agency our goal is to provide you with multiple quotes from the top rated insurance carriers will help you pieced together the most comprehensive and affordable plan to protect your family calls today 844 and 99 match that's 84499. Match and let us review your current auto and home insurance policies to help you decide if there's something better out there for you. Cold right now and also receive our spring insurance guide for free guide includes checklists for both your car in your home to help you determine if adjustments are necessary to close any gaps in your coverage who let your match today 84499. Match to make sure you're prepared for the road ahead that number again is 84499. And AT CH or visit us online and ensure match dot com. It's a financial exchange at your fingertips as well. Thanks 686. AB it's the financial exchange on the financial exchange radio network. Tucker still relatively little wants to know right up to speed on your name for you. I should be and did you know your back and I got it have a huge influence Batman or talk in the comic to the movies. The whole thing all the gotta yeah I don't know at all to me some not as strong interest is that so many and I've not rate nearly enough the movies that and to be presented with. I'm not a comic guy either truck. Mary about here's your first runner up to you out with. I'll give you that loses 11 I'd give you an easy Batman Truby a connection to pull off the game. What is the name of bat man's secret identity. Call 86 days as a joke. Yeah I'd told gonna make if. Firstly easy the second one you really really lucky with the type rated become. 68680. Is let's see that legally you may have just insulted our audience. What is the I want my hoping our audience they're gonna get it right. Question matters. With the name of that man's secret identity 68680. Text number. What is equally. I just know they went publicly raised the whole bunch of money more much more than expected. Yet Toyo went public pricing and at about fifteen dollars a share they raised a 150 million dollars in early trading today they rallied as high as 24 dollars a share. Twit Leo what they are they are effectively. A communications platform. That allows developers. To developers of one. What you mean. Bill allows develop real estate developers and open computer software to tell alls to build out platforms for people to compete communicate on. Usually the biggest applications typically through voice they can also detects an on line from communication as well video chatting and and so forth. They are used by number of fortune 500 companies odds are. If you have called customer service and a lot of big fortune 500 companies you've probably been using twelve Leo products and you never know. Well. They have it's a pretty significant heat policy airline. Great news exact going to be Toledo. Let me I'm gonna try to figure things that you call I'm -- bank list I'm gonna pull big list stock topical use Twilley at a run a lot of their back end for their customers service member uses them Opentable Nordstrom. EMC's. And guest in true it. It if you're talking big companies year. That use them here before you know a portion of their customer service in a lot of cases to facilitate that communication. Between their reps and what you're trying to accomplish has been a lean year for IPOs right. It's been fairly and I'm trying to think of where even in double digits and I've really don't know it's it's it has been a very lean year. As far as you know the number of companies that have IPO here. I'm trying to pull up some of the other customers that twelve Leo has just is they've got Hulu air B&B. Dell. But you know you're talking about some pretty significant companies you know at the top and that was that you know most people are pretty familiar with that but a lot of folks are viewed. We have breaking news coming out of Volkswagen do you own a Volkswagen. If you do fuel one of the affected vehicles your beginning check for 7000. Dollars that just broke big number. It's that is more than me we projected five hadn't. We projected somewhere in that ballpark I don't think we we. Quite knew what it was going to be my brother in law has won it and it's going to be 7000. 27000 who's reporting right now Bloomberg. I and yet I mean that's it's a big number and you figure that the number of vehicles there. I think what do we find in the US was about 400000 vehicles somewhere in that ballpark. Remember it was right around 400000 vehicles so it point eight bill if you do the math that I'm gonna check is does that one makes are not missing a decimal point here. Let's see so we've got 33. Yet two point eight billion dollars when it's all said and done. And that's just in payments to customers. That doesn't include any potential fines and litigation coming down the road. Doesn't include any settlements viewers who may Iran ban by this regulars at port dealers. But Demi you wished they got screwed worse. Yeah it's you know there's still going to be a bit when it's all said and on and I know it was Credit Suisse had put out a report back in the fall about the potential lots eyes this could be. They're based case scenario there at their best case for Volkswagen was somewhere in the fifteen to twenty billion dollar range when it was all said and on to this is only deal with the US customers also not deal with anyone internationally. I think you know you could very easily see this into the tens of billions of dollars when you account for all the different cost. I don't forget you can call Armstrong advisory group and receive a free report on investing in Europe. I make investments in Europe and I'll tell you they have sure been volatile during the last couple months leading up to this Brecht had vote. I think European investments have done pretty well during last week anyway if you like get a copy of this free report compliments of Armstrong advisory group how to invest in Europe. 803934001. That's 800. 393400. What if you lot are advisors to take a look at your investment portfolio at the same phone number you call 800. 3934001. Securities offered through securities America incorporated member finreg SIPC and advisory services are for through securities America companies incorporated Armstrong advisory group in the securities American companies are not affiliated an investor cannot invest directly in an index past performance is no guarantee of future results. We had in an IPO this week in New England select the shares are trading up. After a seventy million dollar IPO that's actually pretty. Small IPOs and yet they've as IPOs golly it would say IPO we're talking about initial public offering twelve Leoville and would they raise a billion. No toil raised 150 million. Ought photos more upset this is a pretty verve for companies to mine until the last couple years this used to be a pretty normal size IPO it's only in recent years that we've gotten and are we wanna raise 510 billion dollars is to be raised when Amazon IPO and I think they raised somewhere around. I'm trying to remember where I was reading yesterday I'll pull the number after the break but. It was not it was less than 200 million and I think it might have been significantly less than that when they IPO. But us selected is a Massachusetts Biotech company they're based out of Watertown. They are trying to develop pot treatments to. Use the body's own immune system to help. Treat certain diseases there you know mostly sound. Think that cancer treatment commemorate when we talked about. Where where they had the they were gonna use. It is basically the drug was going to be based on your own body chemistry. Yeah it's. I don't know the specifics I do not have nearly the medical qualifications to be able to tell you anything. In depth about the but he is another Biotech it is pre revenue they don't have any products out there right now they're using this to which is not unusual in this sector about it's it's pretty standard when you are early stage companies try to keep yourself afloat using you know things like this. And I think that it's you know company that's probably 57 years away from having revenue this kind of another step on their road. But raising seventy million dollars here to continue funding operation. And then more news that a Google they'd just body high speed Internet company to help wire the US. This can't happen fast enough you know eat everybody thinks I got Wi-Fi it's all the same it's not. You you if you major. Your speed on your Internet service you might be shocked to learn how much you're paying it for how little speed you're obtaining. We have an office up in Woburn chuck and I checked the Internet service. Terrible terrible excellent and you pay a lot of money for it. Google comes in the daily fiber week and you get. Lightning fast speed. Yet it is significantly faster speed there and in particular one of the big things that I think Americans don't realize is that our Internet speed. Is very much in the middle of the pack compared to other developed countries if you go to and I'm looking right now Hong Kong the average speed is a hundred megabytes per second South Korea it's 86. US 57. You know kind of right in the middle of the pack right in line with countries like Spain Ireland the Czech Republic. You know you're you're not up there with the Japan's of the world which is it you know 78 megabytes per second but if you get Google fiber all the sudden in your. Typically at least they have it's a one Gigabit per second roll out that they are doing it think that what their system is using. And they bought a company called web pass that's going to help them ramp up their installations I believe now they are I was anywhere you. They would if they came to you right and they said hey we will increase your your Internet speed tenfold would you pay for it would pay premium for now. I would and I'd already have a hundred megabyte speed for a fifteen bucks mine is terrible and and I Verizon it's not great it's not it's. If it's. Fairly slow even here in the office right yeah I look at our Internet service in the office and he is as yet so many users but it's still I don't know enough about. What it is I I tested a you'd get at if you want to test your Internet service at home. You can download an application on your Smartphone. Called speed test. And that way no matter where you are you can check the Internet service and why do you wanna do that. Lot of times you'll pay for service you think they'll play out we're gonna give you 25 up and down. Then you you've tested in your not getting what you paid for so. Get that application and put it on your phone it's called speed test dot net in you can measure your the speed of your Internet service. Up next will be joined by David Peltier from thestreet.com he has to stocks including an auto maker that we're going to be talking about in the next segment. From our insurer match dot com studio. Every time the candidates speak they could affect your bottom line here how elections when we sixteen is already affecting you right here on the financial exchange this is the financial exchange radio network. Hi this is Marc bureau CEO of ensure match and proud sponsor of the financial exchange with Barry Armstrong like Barry we know that to build a solid family plan that includes financial stability and legal flexibility unique to have all your ducks in a row that's why at the insurer matching agency our goal is to provide you with multiple quotes from the top rated insurance carriers will help you pieced together the most comprehensive and affordable plan to protect your family calls today 844 and 99 match that's 84499. Match and let us review your current auto and home insurance policies to help you decide if there's something better out there for you cold right now and also receive our spring insurance guide for free guide includes checklists for both your car in your home to help you determine if adjustments are necessary to close any gaps in your coverage -- -- your match today at 84499. Match to make sure you're prepared for the road ahead that number again is 84499. NA TCH or visit us online at insure a match dot com. Understanding how to build a well rounded investment portfolio was one of the keys to being able to withstand market fluctuations. That means you need an advisor who can create a global investment strategy that includes the international markets many products made in Japan and across Europe are extremely popular in the US particularly those from the auto industry in the electronics industry it may also be beneficial to consider a foreign nations diversified low cost index fund or one of its exchange traded funds if your advisor hasn't discussed the value that exists within the international markets Colby Armstrong advisory group at 803934001. And ask for our free guide on investing in the international sector that's 803934001. Securities are printer securities America incorporated member finreg SIPC and advisory services offered through securities America companies incorporated Armstrong advisory group in the securities America companies are non affiliated and investor cannot invest directly in an index past performance is no guarantee of future results. Hi everybody very Armstrong here from the financial exchange and I'm joined by. And leader bank has an exclusive. Program for those of you who are landlords here Cora collecting rent from one tended to 401 tenants. He ran it might be something that you want to look into Jake talked to us about your how long has it been around. We've been offerings he ran for almost two years now two years and his have been successful it's been extremely successful we've. Offered his product to really target are lame doors were still collecting checks in paper form in this day and age. 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Many people who answered that quite a few people at the end there Tim from Newport New Hampshire had the answer before anyone else it takes on the teacher today and it is now time for a little bit of stock talk here and we are joined by David Peltier from the street. David thanks for joining us. Men are better. David let's start first with the companies that I probably most of our listeners if not all of them have heard of at some point their lives and that's Ford the car company based out of Detroit. Forge a company that you know has seen some volatility over the last twelve months it's got a 52 week range that goes. You know for about ten dollars to almost sixteen dollars a share right in the middle of that right now are you bullish on this right now or bearish. I am vote on corporate you're getting a dividend yield of about four point five per cent almost three times what what. US ten year treasuries paying. And if anything I think the stock may be a little ball they beat it about another round of Europe but this record book coming out. I think that he's been selling in stocks especially companies are electric speaker but I do any near term as a buying up for. One of the big concerns with auto makers historically has been how they perform. During downturns I know that a number of them tend to struggle when you see a slowdown in sales because margins are so thin to begin with. How is Ford set up to deal with this issue at this point. Short circuit position pretty well pricing has been very strong. That are being in the sport have been 50% 200% more than what is staying the industry. And you're really being a lower gas prices a shift toward. Throughout he even ban which carried much higher margin than the traditional automobiles there. What is Ford doing NO one of the major places for investment right now Lott is in electric vehicles and alternative fuels what is Ford doing what kind of projects they have coming down the road the next couple years on that front. That hasn't really been a major push it forward I'm I think I think hybrid is overweight the oh especially in the US. 00 ball there's been a lot of cliffs. The Sudan in the outcry. But a lot of work toward electric. One those rebate than what was packed richter and it is not really being the last thing that and I think forward look we need you prosper without our hamburger. But not so much great like that. In terms of driver was vehicles I know Ford has announced a couple partnerships in this area Choo continued development. What who are they working with and what are they trying to do on this front. Yeah I mean realistically that and a fifteen years down the road by putting her putting your foot in the water right now with that are. I think it very well could be the future I think what are you got more than it is a truck. As far as that he. And if that is the well there and we will be immoral. On the cart. Let's turn out to look at a medical company and this is Abby incorporated which previously I think probably about. What four years now maybe three or four years ago was spun off from Abbott labs what does Abby do what their main focus. Written that are big that are in my era it. But it'd actually be the largest selling drug. In the in the entire world right now somewhere between ten and fifteen billion dollars and but again. Very diverse pipeline and a lot of these pharmaceutical. And again that the company that has European voters there could be all of 13% of they'll. In continental Europe and another 3% that in the Kayla. And in this company in terms of where their growth potential is what types of new products to they have in the pipeline is there anything in particular that we should be focused on that investors should look at. If they're lured her get into this. Sure what the company recently made some acquisitions and at that Pasco conference which was earlier this month which the Arabs are our current. The company or released the new clinical data for one of the new drug. I think this is area of growth or abbey and for biotechnology and pharmaceutical company. Are they more or less aggressive than not a lot of their peers in terms of acquisitions in the that Biotech area. Well they're they're not aggressive and acquisitions in the way that comfort that there about whether. They're buying drugs. Just raised the prices. The fact is that these large pharmaceuticals for the abbey buys or wherever. While they're generating new drug in Alice. So the way to build your pipeline really is the by a small cap and mid cap Biotech stock. Seven on that that. Very good David thank you for joining us. Thank you David Peltier from the street kickers on those two companies Ford as the ticker F Abbie has the ticker ABB. V. It does seem like for its trade in that range for as long as I can remember yeah it's it's probably being they've been in that range probably for about five years. You know somewhere right around there. You know autos is a whole it's a tough industry to invest in. It's you know you you certainly can have some upside if you buy the right time. But you know even if you go back into the ninety's in fort it was a trading in this range somewhere backing in 9596. Spiked up in the late ninety's with the SUV boom. But since then it's come back down and you know really hasn't moved on good earnings and you know and on it in a very yes that's right in the market for a half percent. Then I'd be deployed GM is similar to that right GM has a similar dividend Jim's a little bit higher their five point one right now they're getting you a little bit more yield there GM's a little bit more exposed to China there one of the biggest manufacturers over there with a cup partnerships that they have but GM does have that higher dividend right now trading pretty cheaply also while only about four and a half times earnings but the big reasons that margins in that industry are still being an if you do see a slowdown. Yeah those those car companies tend to be affected an outsized way. GM making a big play in electric cars but I'm not sure that's an advantage to nurture their and make money on those for quite awhile now it's I still think it means you talk about the number of vehicles in the US that are electric vehicles. You know it is it is a fraction of a percent at this point I think it's somewhere around four to 500000 vehicles at 290 million that are out there you're talking about you know effectively. You know not even a another 11% of that the National League. A lot of these auto makers are using the electric cars just because they have the fleet requirements meaning that they have to have a we have sort of mileage. Estimates hit was that by 20/20 five they have to be of the hit certain target for their whole fleet. In those targets are coming down you know they keep getting more and more stringent. As time goes by. Ari who sued a sweet guy you know I saw the story about mover and how much money they're drivers they uses this study done by buzz feed. And it sounds like it's too little that there are they're saying her driver's name is saying that after expenses. That Bloomberg drivers in Denver early make it thirteen dollars an hour they'll buy that I. I don't know if I really trust a study from buzz feed which is probably that. One of the worst journalism outlets out there I'd probably would need to see a lot more data on this because. They have not really proven to be a neo. You know bastion of data science validity. So are some questions about the numbers that they've been able to sit together. Merry well thanks for tuning in to this hour of the financial exchange featuring chuck is not a Tucker Silva and very Armstrong. From our insurer match dot com studio. If you're casual observer of the stock market we have an interest in net diversified portfolio please pay close attention to the following message understanding how to build a well rounded investment portfolio is one of the keys to being able to withstand market fluctuations that means you need an advisor who can create a global investment strategy that includes the international markets Japan is one of the world's most developed nations and it's a leading manufacturer of highly visible products that are top performers in the air industry if you're advisor hasn't spoken to you about the value of international investing than Colby Armstrong advisory group at 803934001. And ask for our free guide on investing in the international sector that's 803934001. Dirty suffered through securities America incorporated member finreg SIPC and advisory services suffer through securities American companies incorporated Armstrong advisory group in the securities American companies are not affiliated and investor cannot invest directly in an index past performance is no guarantee of future results. Find your favorite news photos and sports updates on your phone when HP mobile from the Associated Press AP mobile where the news gets its news hi I am very Armstrong from the financial exchange and I told you about leader bank many times I've taken advantage of some of their super offers and I'm here to tell you about another one there are offering a Trammell. 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What is the biggest red flag that they should be looking for in the drafting of their legal documents you know you need to do to really take a look at your documents and look for certain paragraphs that must be in there. And certain paragraphs that should not be in there for example it's okay if it says you have the right to the income. That's perfectly okay what you want to make sure there is actually a paragraph in there that prohibits you to get the principal directly. He can get indirectly but not directly and if you don't see it say you're looking for your document you say well I see that I have the right to the income. But it just doesn't say anything about my ability to get principle in other words it's silent as to principal Scott is probably the single biggest red flag you can have because. If you don't spell it out. Now the State's gonna come back and say hey because you didn't deny the rights to principal in the state you're probably can get. The states are doing this because they're under treatment this financial pressure. I'm sure they. And I think because there are also learning that a lot of lawyers have been practicing in this field for a very short time and are drafting these things incorrectly in the winning. And that later winning went when they're drafted in correctly but the positive front is there's been a lot of cases lately saying it's been winning. For this for the people. Todd what's key is making available a brand new guide it's designing the perfect in come only durable global trust that's a mouthful. But if you'd like to get a copy of this guide call toll free 8668485699. Or operators standing by right now. To process your request. 866. 848 5699. That's legal exchange showed dot com if you wanna download the article. Or call poll free and get your copy of this brand new guide on irrevocable trusts 8668485699. 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This is the financial exchange with the Barry Armstrong and chunks of tour exclusive look at business and financial news affecting your day you simply. Your world stay informed and today about economic and market trends plus breaking business news. And the image exchange with Barry Armstrong and she so. 46 million people have the opportunity to go to the polls today. And place their vote as to whether or not they want to read mean. Part of the European Union or not and we don't know what the answer is going to be the lead the latest polling we had was very tall one way or the other one was. Leave had an ahead by 2% and another poll I looked at was that we meaner ones who have on leave it. 7% but. Nonetheless the polling is very close. The stock market however chuck is indicating to us that Great Britain will remain in the European Union. Gallup a 161 points. Yes stock market is up pretty much ripping hired today and this follows. A mixed day yesterday where you had you seen initially some rally. And then a slide in the last four hours trading I wouldn't be surprised if you see something similar today now you know I I think to be able to hold on to this I think you know people would have to be pretty confident heading into tomorrow and I just don't know if anyone is able to speak on the you know how that vote can turn out with any certainty right. By the rumor sell the news though could be. You know it is an old saying on Wall Street view you know YouTube by. You know weaker to it in advance of an event like this is. You make some money he probably did make some money if you made this trade last week here you're at the markets are up markedly over the last seven very trading days. You look at your returns in that period time years you may see. Quite unexpectedly wouldn't be unusual to see the market sell off a little bit tomorrow if they vote to stay in. Well and in here's something that I don't necessarily understand. About this market right now is the market is rallied in the last week or so. Based on the expectation that you're not in the sea of Rex. Well it's rallied higher than we sawed back and last October November and I think that you can pretty much across the board make the argument. The world economic pictures deteriorated. Since you know it's things don't look quite as rosy. As they did back in November when the US economy is still a good job growth and so forth so. You know I look at this market and it. Seems to me if if I were trying to evaluate it you know you may be poised for a little bit of a pull back anyways just I don't know these valuations necessarily. Are in line announcing that you're gonna see something huge but you shouldn't you know I wouldn't be surprised if you see any 10% pullback at some point just because. You know I I think this market has rallied on the kind of a narrow focus I think what's pulls back to how water picture of a wonder if it's going to. Be able to be a kind of stay at this level how long have we been arrangement. In this can to 10% level here. You go back to you to. The last time you saw the Dow below 18100. Was back in the beginning of our city ever S&P U rather. S&P was back in the beginning of 2014 to two and a half years now we've been about a 15%. Range. Then longtime Lanka atop its down. In only it could break the cycle you would think that the markets would be hesitant to rise especially given the political climate here in the United States gold is down gold trading at 1266 announce that's another giveaway about the Euro. And then the ten year treasury note is trading at 171 interest rates still very little unity ten year treasury yields still exceedingly low. The NHL announced last night that they are in fact. As we had suggested last week expanding into Las Vegas love this move we do not know the name of the team. We don't know the name of the team yet we do know the the owner who is going to own that team to man by the name of bill Foley his ownership group was of awarded. That franchise in Vegas after paying that 500 million dollar expansion fee which is a pretty pricey art. Pretty pricey for you know that league especially when you talk about the revenues. That you have there. Foley just to give you a little bit of information about my one night did a little bit of digging just I was curious who was I I wasn't familiar with the where did you know anything about him in turn either financial services that. Yes he's a financial services guy he's you know been on forbes' billionaire list for a little bit of for a little while now worth. I think Alf to pull up I think he's worth the bell. Two billion dollars and get somewhere in that ballpark. He had being now without fidelity national financial for awhile. At this point yet number 353. Not the list of billionaires out there. And generally you seems to be pretty pretty wealthy guy by all accounts are still don't know a ton about him. But I think this Vegas team is going to. Be an absolute blockbuster for the city I think it's I think you're going to like I would travel to see the Bruins played there. They already have an NHL arena. They've accepted more than 141000. Season ticket deposits and they sold out all 44 suites. In the in the 171500. Seat ranked. It was built by MGM resorts. I would thing and tensions entertainment group I would think that you would do seem pretty good attendance because. You'll get a lot of out of town already towners think about people from Edmonton. Hate you they're gonna come down. Lot of Canadians get it out I will I will go to Vegas for game I would love to go to a game in Vegas think think about national parties from all these different cities. You know let's go watch the Bruins in Las Vegas I met for about Cooper let's go. Watch the Edmonton or dealers for our national party in Las Vegas you're gonna see a ton of it's going to be a rowdy crowd. Yet tonight not to be subdued convexity did not get a team and I was not surprised by the skate in the the Canadian franchises are playing it tremendous handicap they beat the Canadian dollars looney. Is trading at about seventy cents on the dollar may have a tough time supporting franchises the ones that are really tough to support in Canada. Our Winnipeg. Calgary the caller's pretty good sized city Edmonton is not a huge city Vancouver's a big city. But even Toronto Montreal and Vancouver the really big market cities had a candidate they have a tough time attracting talent because I'm. People Canadians don't want plane dropped legally get paid Canadian dollars and eight Canadian tax rates up and keep the pressure of playing in Montreal. Or Toronto to makeovers not as bad but the pressure plate but if you pick up the sports section. Of the Toronto star of the globe and mail in July. The trying to fire the coach every year the number one story is not the blue jays right it's not the basketball team it's always hockey. Hockey is first and foremost in Montreal which Ronald. 52 weeks a year and if I just think it's it's a tough place to play Canadian kids to play. Lead because of the pressure or in and out of Quebec city's big enough to support team they're not you know it's. Absolutely you look at the full metro area it's only 800000 people is the beer absolutely not Witten. Take a look it would pay if you think the backs small winning regularly 300008. Take take a look at it is the Winnipeg is very small and in and they're gonna have a tough time in the long term remember Winnipeg franchise that would apparently is to 71. And Andy of twenty years ago they moved to Phoenix that's where the Phoenix Coyotes came from went over to go to Atlanta. Now as news Atlanta Thrashers. Atlanta thrasher ugly trash in a way to win it out I gotcha that's what it was the the first Winnipeg team failed. Yeah news the Winnipeg jets and they failed and they moved to Phoenix so I I don't know. Be the future hockey Kennedys is pretty tough they have to go and selfless young thing that this move will do. Is it'll inspire. More rivalry right you'll have you know Vegas vs LA Vegas or is Anaheim day's worth vs. The Phoenix team. And hopefully they're Smart enough. To build an American League team in Reno or somewhere else outlet that Alec the Bruins right you've got the baby Bruins out of Providence in the at the major bruins' boss. I get get everyone involved there and I do think we talked about last week how wac you know needing to add another team to balance the conference is out there Seattle I think is right for a team also if if they can get the stadium finance and yet. Wealthy it's a very wealthy community Seattle little snooty now. All right up next we're being joined by Kurt czar now ski from he used to work for the department of Social Security Social Security in fact. We have new details relating to the financial status of Social Security the F questioned by the way for Kurt. Text and in 68680. Is our text number. We're talking about the financial deficits being faced by Social Security. And Medicare and disability. We'll also tell you how much of an increase those who are on Social Security will be receiving in the retirement benefits on January 1 of 2017. Lots of news coming up next on the Social Security from our insurer match dot com studios. It's watched the holes. We need to watch the marches find out how one can impact the other throughout all of election 2016. Right here it's a financial exchange on the financial exchange. Radio network. If you're a casual observer of the stock market but every interest and a diversified portfolio please pay close attention to the following message understanding how to build a well rounded investment portfolio is one of the keys to being able to withstand the market fluctuations. That means you need advisor who can create a global investment strategy that includes the international markets Japan is one of the world's most developed nations and is a leading manufacturer of highly visible products that are top performers in the industry. If your advisor hasn't spoken to you about the value of international investing Colby Armstrong advisory group at 803934001. And ask for our free guide don't investing in the international sector that's 803934001. Securities offered through securities America incorporated member finreg SIPC and advisory services offered through securities American companies incorporated Armstrong advisory group in the securities America companies are not affiliated with an investor cannot invest directly in an index past performance is no guarantee of future results. 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Or download the guide on our website had legal exchange showed dot com that's legal exchange -- -- Hi this is more bureau CEO of insure a match and proud sponsor of the financial exchange with Barry Armstrong you more likely used one of the major travels likes to book hotel rooms rental cars or airline tickets they're great one stop shopping sites that are convenient and helpful. Well and share matching the same thing except we provide you with multiple insurance quotes from the top rated insurance carriers to help you shop in one place for all your insurance needs call us today at 84499. Match that's 84499. Match let us review your current auto or home insurance policy and see if we can find you a better deal. Even if you're comfortable with the policies you have it's always a good idea to get a second opinion you may be surprised with what you find all right now and we'll send you our spring insurance guide for free. Complete with checklists for your home and cars. 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Member FDIC equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards will -- zero point 10% annual percentage yield on savings balance member FDIC. Business news financial news. And what it means to do its own right here on the financial exchange with Barry Armstrong and chuck saga on the financial exchange radio network. And every year a report is issued on solvency. Of Social Security. And we go to Kurtz are now ski from these are now ski consulting used to work for department of Social Security he's been a guest on the show in the past. And he helps us interpret. What was learned yesterday from this report I Kurt welcome to the shell. It very great to be back on what you and chuck a white. Terrific terrific so if you would. My understanding the picture for Social Security in terms of its solvency is not getting any better. Yeah but it's also not getting any worse I mean it did. My view on all of this is look massage or let loose some are short par. Or things changed the more they stay the same each year of the Social Security trust these. Through the eyes of the Social Security actuaries attempt to project into the future. Detailing what they view it belongs rain solvency of the program and each and every year at the report is pretty close to about the same. Talking about some period of time. During which Social Security's projected from all of its sources of income to have enough money to a 100% of the benefits that have been promised. And then at some point down the road. The Social Security in come at that point will solely be payroll tax is collected from. You me employers employees and whatever and the projection is that that income source. Left to its own devices won't be enough to cover all the benefits that would be enough to cover some percentage of the benefits so the issue confronting congress this. How to be a close not a 100%. Funding gap but. Latest report in for a couple years now what's that. That shortfall beginning in the year 2035. It's about 21%. That the income. Projected to be coming in from payroll tax dollars that time is thought to be enough to cover. About 79% of all the benefits and problems that you know you look back at history and this into solvency date has moved around a little bit but it's basically been in the same range and the issue is. He cheers that report yet. That doubt to the public people talk about congress needing to do something sooner rather than later so people can plan. And yet another year has come and gone without congress doing. Blah and the logic is the longer you wait to address it right it's been 2034. For what ten years now. Then and I remember it pretty short 635. Whatever. And and incur one of the things that I look at and look out on someone who went whenever I don't talk to someone I tell them I have no expectations of getting anything from Social Security even though I know I might get. Something here. But is it true that even at this point where we're you know less than twenty years away. From where benefits would be reduced. Is I mean you look at the numbers that would need to be moved in order to adjusted and if you did a combination of bumping up the tax on it by one and a half percent. And cutting benefits by 5% you pretty much get there. Oh absolutely and it's pretty easy and not rocket science spoke Social Security it's basically money coming in. It's money going out. And so the issue confronting congress and American public about this excess Social Security is not altogether different from somebody don't situation at home. It at the end of the month you don't have enough money to meet all of your obligations. Yeah they've got to bring more money yen. What payless money out or here's an idea. In some of each. Because if you think about it if you try to close at 21%. Gap. By simply raising revenue. Increasing the tax rate if you will where you're impacting what younger folks employed you're. You close that point 1% gap simply by cutting benefits or you're impacting well old folks like me I think the have to be a situation where congress comes up and there are a number of different. Suggestions out there are ways you can close that gap but I think in the end it's gonna need to be. A reasonable increase on the income side. A slowdown on the outflows sides of the nobody feels they've been singled out for disparate treatment but I think the most important point. Particularly for younger oh. He is you Harrell has talked about Social Security going bust going bankrupt which leads people to mistakenly think. That at some point Social Security is not gonna have any money whatsoever. Absolutely complete and total collapse to the United States economy bumping like mad Max beyond thunder don't situation. There's always going to be your revenue stream from payroll taxes being collected tissue is. Looking down the road is that revenue stream from payroll taxes spot to be enough to cover. A 100% of the benefits have been promised them this point it hasn't so something needs to be done but is never going to be at the point where there's no money coming in. And I think we learned yesterday that there's going to be virtually no increase in Social Security retirement benefits on January 1 does that. What McClellan but that's what the trustees' report projects. As we talked about on the show before buried the Social Security increases based on the Consumer Price Index. Urban wage earners the POW the measurement period is the third quarter of one calendar year. For the third quarter of the following calendar year and be official announcement won't come until sometime in mid October. When that. Measuring period will it closed at the end of September but based on. Information and facts out there today and it sure looks like they'll be a very small. Cost of living increase for folks with the public that it it is that it means inflation has remained under control. Late 1970s. Social Security is passing out cold around fourteen point 9% one year. No 9% the next widget that terrible situations of this good news is bad news nothing official though that won't come until. Middle October when the measuring period as officially closed. But the trust these are the guys that Social Security actuaries are projecting something in the neighborhood but. A small. Went to that 2% may be somewhat. Right any ideas on how that will impact Medicare premiums Kurt. Well and that is another. Thorny issue that remains to be seen because. We saw a lot of this last year when there was no call a the law provides that people who have their monthly Medicare premiums deducted from their Social Security track. Cannot see a reduction. In their monthly Social Security benefit amount yet. The part B premium increase. Per particular year it feed them. What they have received in terms of its Social Security cost of living increase. But with no he can't lose money if the part B premium has gone up higher than whatever the cola has been so we're still sort of waiting don't know yet what that. Actual part B premium is going to be for 2017. In the press these are still run those numbers could basically we talked about that before. Part B premium rate. Is that because by law it's supposed to cover about 25%. Of the program cost of the part B program and quite 5% premium the other 55%. Or so but again with this low cost of living increase on Social Security. Depending on how high the part B premium is scheduled to increase. Army could see a number of people who were again held harmless. And will continue to see their Social Security benefit amounts remain at the same level they have for the past couple of the year. And Lester are higher earner right they if you have. This narrative of some exceptions to that absolutely appear higher earner subject at that all income related Medicare adjustments. Then yes indeed you are exempt it from that hold harmless clause and you will be. Required to pay the full rate. Regardless of the amount of the cola but again official announcement of part B. That's not gonna come until probably October so well and then we'll know how that all plays out. In 2070. Very good Kurt thank you very much for joining us we appreciate it Eric Berry creek check figure out Kurds are now ski from the czar now ski consulting group joining us today on the financial exchanges like share stat with you that I found pretty fascinating. There were two point eight covered workers for each beneficiary last year right so last year two point eight people. Workers for every beneficiary of Social Security that's down from 3.2. In 2008. And the ratio is set to slide. To 2.2. Over the next two decades so. You know used to be there for five workers for everybody who's collecting Social Security up and numbers just flipped. But you know the the story the first woman who collect Social Security. Yeah I was back in the thirty she'd paid very little money into. It was Ida may Fuller she collected her first check on January 31 1940. She paid 24 dollars and 75 cents into the system. And you received 20944. Dollars and 42 cents. This year effectively paid in for you know up a few months here and there but she ended up collecting checks for 35 years when it was all said and done. Remarkable investment remarkable. The Dow Jones industrial averages up a 177. Points as we speak gold trailing off just had it to 1266. And surprisingly good goal oil trading at 4941. I thought we would seem a little bit of a pullback in oil prices but we have not. Ten year treasury note is trading at 172. And you are listening to the financial exchange from our. Insurer match dot com studios. You gun barrier and stronger stuff financial exchange on the plane and she'll exchange radio network. 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Member FDIC's equal housing lender zero point 20% annual percentage yield earned on portion of daily balance greater than 50000 dollars those who do not qualify presume rewards will learn zero point 10% annual percentage yield on savings balance member FDIC. Hi everybody very Armstrong here from the financial exchange and I'm joined by Jake too who's a senior vice president. At leader bank. SBA loans. Boy they've been around for awhile but not everybody takes advantage of them and very few people know how they work. They spare yes we we to a lot of small business lending its leader bank. Where preferred SBA lender which really means we can maker decisions in house you can quickly within a couple weeks. So we've been very active because a lot of small businesses have been growing in this economy so for example we have a special right now. Which is small business loans up to 50000 dollars were offering a fixed rate of three point 99%. Fixed for four years and no closing cost. 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Three point 99% to pay it back over four years. 8776917900. Porphyry. 8776917900. Or check them out online at leader bank dot com. Understanding how to build a well rounded investment portfolio is one of the keys to being able to withstand market fluctuations that means you need an advisor who can create a global investment strategy that includes the international market many products made in Japan and across Europe are extremely popular in the United States particularly those from the auto and electronics industry it may also be beneficial to consider foreign nations diversified low cost index fund wore one of its exchange traded funds if your advisor hasn't discussed the value that exists within the international markets and called the Armstrong advisory group at 803934001. And ask for free guide on investing in international sectors that's 803934001. Security effort to securities America incorporated member finreg SIPC and advisory services suffer through securities America companies incorporated Armstrong advisory group in the securities American companies are not affiliated with an investor cannot invest directly in an index past performance is no guarantee of future results. Hi this is more bureau CEO of insure a match and proud sponsor of the financial exchange with Barry Armstrong you more likely used one of the major travel slights to book hotel rooms rental cars or airline tickets they're great one stop shopping sites that are convenient and helpful. Well insure a match the same thing except we provide you with multiple insurance quotes from the top rated insurance carriers to help you shop in one place for all your insurance needs all of us today at 84499. Match that's 84499. Match let us review your current order or home insurance policy and see if we can find you a better deal. 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Called my friends drawn or Bryant. At 7817906462. Or visit and eat firearms dot com for more information. All right here's a tougher trivia question yes for complaining that I made the first one to Nokia now let's say. In which year. Was the very first Batman movie released this Demetric everybody. Good question this is a very difficult question 68680. Is our text number. In which year was the very first. Batman movie released I'd be very surprised if anybody gets the correct answer to about one. I will tell you we got a number of questions regarding Social Security I think we should just revisit quickly. One news. When will Social Security run out of money well it's not gonna go we just learned it's not gonna go completely bankrupt meaning. You're not gonna in the year 2034. You're not gonna go to zero benefit. But if congress does not act and bought by and they will let you know as usual the weight the last minute. If they didn't act your benefits are enough to pay about 76%. In the year 2034 which is not that far away. Now that's only what eighteen years away now. Doubt that's our it's it's close so it's again it's it's never going to go down to zero for people there at least based on the information that we have today in and look at it again the only way that you get. Nothing personal securities if the entire thing falls apartment doesn't matter anyway. Taxes are gonna go up to your point you have to have taxes probably go up somewhere at this point in order to to balance in line. You know with some potential benefit reductions you're talking about bumping taxes by about 121 and a half percent. And reducing benefits probably five to 7% something like that gets in line and balances effectively for the next 75 years. Right now they tax on the first 1181000. Dollars for an. In the speculation news Hillary he Donald Trump percent to don't touch it it's fine it's going to be five. Hillary Clinton has said she wants to raise the limit from 118 to a much higher and yet Hillary's the platform that doesn't make sense because the reason it's capped right now is is that also caps your benefits even. No matter if you make a million dollars a year you can get Social Security benefits but it's based on that 1181000. Effectively. If all of a sudden you start saying look if you make more than a 118 were in a taxi on that whole thing. Are you gonna raise benefits for those people don't you're not so I think that you know I am personally. I don't think it raising the amount that's taxable makes cents analysts are raising benefits which doesn't really do me any good anyways. So you're looking at increased taxes. You're looking at changing the retirement age. And you're looking at reducing the benefits. Those are the three lovers those that I really react and identify. And I would not be in favor of bumping up the retirement. Does that I think I think you really start to. Creates them perverse incentives for people to end up remaining in the workforce and as opposed clearing out for the next generation which rookie you need to have that site eternal true if you know you bump it up and say OK can't retire to the seventy. I mean you're talking about very real effect on what you walk. You know what you do to people. Well there you have those of the fact that we know as a relates to Social Security's. Americans are getting sick of birders and it's terrifying news for five guys smash burger and shake she. I don't know but I agree with the other headline on this I don't know if I agree either I think there's certainly they like them as much as they used to but I think that the growth is probably significantly slow him. I eighty part of the problem news. Cholesterol tests. And went to my doctor yesterday that he didn't even the ninety day warning had to hold no you don't that is united is the lower. And edited or ninety days to me or lower my overall a or. You're going on Zocor. Which isn't just I think it generic brand from the department so what if to do just the flight leaves or something like a lot of salads laws NL Salomon action device and you did that in the summer to its prime barbecues. My two weaknesses are I love states. I love ribs and I and I love cheese he said Perry she's doesn't probably. He said. A lot of people fire and ice cream I love ice cream too but I don't need them to speak about my good men and chocolates. I have a lot of that. I have to exercise anyway that's. The hate gay people are cutting back is that the idea. Well that the thought isn't it pretty much what you're seeing you're just not seeing the same type of same store sales growth for your five guys match burgers and shakes acts of the world. But I think it's just because the growth was so rapid you can't sustain that for every you're not seeing. A decline in terms of burger sales or anything like that but you're not seeing anywhere near the growth that he did not think it's because he can only so many. You know there's a there's only so many people to go out and eat different burgers and eventually run into the point we're OK people are gonna have a burrito every now and then to polling gets the benefit instead of five. Let me ask you this one's life and you guys have had like five guys are Sheikh Jack burger human McDonald's burger the months ago. Spent a few months for me to me if I. The island of what I learned and I've got to coalesce it lets you have a ninety day award at a ethical and I've got the cholesterol test to prove it. And what does Tennessee leaving your car aria you know you know what Allen in the glove department and Emanuel is just violent according lightly scratched up did you look it's only sixty. He has nasty about it anyway quick announcement on behalf of of. 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If you're casual observer of the stock market we have an interest in net diversified portfolio please pay close attention to the following message understanding how to build a well rounded investment portfolio is one of the keys to being able to withstand market fluctuations that means you need an advisor who can create a global investment strategy that includes the international markets Japan is one of the world's most developed nations and it's a leading manufacturer of highly visible products that are top performers in the air industry if you're advisor hasn't spoken to you about the value of international investing then called the Armstrong advisory group at 803934001. And ask for our free guide on investing in the international sector that's 803934001. Securities offered through securities America incorporated member of camera SIPC and advisory services offered through securities America companies incorporated Armstrong advisory group in the securities American companies are not affiliated and investor cannot invest directly in an index past performance is no guarantee of future results. Securities are securities America ink member in a PC advisory services are securities America advisors. Are represented Armstrong advisory group in the securities America companies that. Battery and shut by Alex. Okay. I told you that was a tough trivia question the first Batman movie was released in the year 1943. By Columbia Pictures. The film's stars Lewis Wilson. As that I had no idea. No I would I would've said I'd edit realized they had once before the Tim Burton won and 89 but that is in fact the right answer in 1943. Richard from Chicopee had the right answer he takes on the teacher to. JD power. In my opinion is the most credible resource that you can access as early it's too automotive quality. And we are joined by irony Steve's she's a vice president at JD power. In G joins us to share the results of the most recent ranking that JD power did. Of various brands of automobiles irony Dario. I'm Corey and I let it be here repeat so. If you would how many different brands of automobiles is JD power rank each year. Yeah when we look at the ranking it's really. Complete look at the market this year we had 33 brands that we ranked in the study. 245. Models and a 164 assembly plant. What are the criteria that you use to to rank a brand because the brand can have. You know twenty different models. Now exactly what we will we look at it's a study where we elect at the problems. Notice act and Toomer talked about in the first ninety days of ownership. And it could be a design issue could be a what we call ID act now on ten. I'm that it that it's essentially on the comments that we that we hear in the problems they had are consumers. Raised on their vehicle. OK so this is a consumer based C or not you're not bringing every model. Into the shop and and testing yourself you're doing it based on consumer service. Exactly they are eighty bell over 80000 consumer debt with that our survey it has 233. Different questions have very extent of the in act and consumers at variance in the earth and eight days with their vehicle clinic. Covered a number different categories from there Berrian with director their interior there. HCA the year in their intertechnology. Debt their vehicles that while there engines and and it. LA cover a host pat them on their experience with there with their new car track. The difficulty hair would be of course. That it's a short window only ninety days you're not a value anyhow that car performed over five year period. Now we actually have another study that vehicle dependability study where we look at after three years so. Doing really matter a number of different camps back we measure early on Meehan measure it and there early experience. You know what how had to be. Feel about their vehicle and what I'm concerned. Have they noticed really early on. And then we also attract. Up over three years and ask them again talking now. What have you experienced in what have you noticed and we have a the last three years now. We we have several different touch points on. As well as their dealer experience well look at dad after 12345. Years and asked them all along the way Al. So we retract it and and really Allah that consumers in a number of different studies. Along that there their journey. I have to confess I was quite surprised to see that Kia. Was the top performing brand. Yet NN ever and the real banner year for the industry there is really a great level of improvement across a number of fronts and it's. Com wanna comment we look at the brand ranking in the here on here ranked highest among our brand that was the first time. In 27 years and non premium brand has ranked number one. And yet but I'm a great journey to look over the last ten years really moving up the I upped the brand rankings. And having you were in your problems go on the with relief. A great year to be on Nokia come to the top. Porsche has continued to do about it while they they ranked pac and on the short outbreak last year and then they're ranked we have. Hyundai and force them to pay out up now against the very strong performance and market. Renee what happened to us marked the company that makes the the the little cars that look like little golf carts they were the worst ranked company that yet had here. And it wasn't particularly close what types of vision to people tend to have with them. I'm had to let us talk about any particular companies but let me get you know they in general. When we elect to act that companies that moved quite a bit in the rankings maybe the wrong way. I would say one common theme was it was a new launch vehicle in down an arrangement with mark it was beat you know that's sport to that was new. And down. You know many times companies are still working through Wednesday have been vehicles that are launching. More issues and they hand and the carrier per vehicle. I'm now that stolen and used to challenge we're seeing some companies. Yet are getting beyond Actuant starting to launch vehicles. With the pain or better quality is the vehicle replacing about it it's still an end each count. Are there any classifications of vehicles that ten choose score higher in terms of quality in other words sedans verses suvs or pickup trucks has won ten to stand out. As being a better builders at scattered depending on the brand steel. Yet I could depend on the brand and the vehicle all he's been comparing apples but a couple of the interesting try and speak out this year are dead domestic brand. In in historically it domestic brands at school word higher and problems and they import brand. I'm an only at one point in time and thirty year history of this study cap domestic brand scored batter and impart brands. I'm but this year we opted domestics actually can't perform better and the import brands and they improved significantly improved 10% you're every year vs incorporated improved that pat piper that. And one of their other. And gratifying aspect of that that we stopped play at all read domestic means you actor. Posted a gain and very good group and now. It would really again good to the development positive movement or consumers. On their and it's happening in the market. Thank you very much Rene and I appreciate the the research that you folks have done and I appreciate your time joining us today in the show. That's Renee Stephens vice president of US automotive quality at JD power. No we should probably do chuck is walk through the rankings. By brand and the way to do it is the best performing auto variance calculated by complaints. Per 100 vehicles. Yeah and us starting at the top Kia. Porsche Hyundai Toyota and BMW your top five there and the range there is 83 denying before you continue down the list you go to use Chevy. Buick Lexus Lincoln Nissan. Ford GMC infineon Volkswagen all of those in that 95 to a 104 range still above the industry average lives a 105. Then you continue down the list you go to Audi. Mercedes-Benz. Cadillac Jeep rammed Chrysler Mitsubishi. These are all below average in terms of their initial reliability. Dodge Subaru Honda provide hooks Subaru and Honda are that far down the list I was gonna say new model the new model years as she said. You've you've got up you know a lot of new models after both of those both those companies and those tend to have greater level of defects because there's still figuring out the manufacturing. Yeah I ever buy a car in the first year I know I've been told by many dealers to never buy a new launch model avoid it worked out the bugs exactly. Exactly. Continuing down the list Acura science and jaguar Mazda maybe you Land Rover Volvo. Fiat and Smart. Now the interesting study they do a good job JD power of historically. I've relied on more so than say consumer reports. And consumer reports like eggs they had used used them back. Like in the eighty's and ninety's they they had more than 80000 responses to other surveys in order to put this list together that's like big days they're going to the consumers directly. And letting them you know respond 233. Questions are. Now who's kinda you know this this is not a you know we have survey monkey eight take five minutes and do this this is something that takes you know probably an hour to actually go through penalty car afterwards trees. Yeah donate thirty questions they pastor you like crazy. Well and do it and I when I bought my car in March they've been pestering me to take this series don't have the time now. Yet that their top three models per segment. You they've got an interesting interest in things you're not operated city car was the Chevy spark new small car the Hyundai Accent small premium car Lexus CT. Compact car the Toyota Corolla. Compact sporty car that Buick cached data and cyan TC. Compact premium car Lincoln and Khazei and compact premium sporty car Audi TT. Thanks for tuning into the financial exchange on the day where the Dow was up a 179. Points I think it's fair to say that the stock market globally. Is anticipating that Great Britain will vote to remain in the European Union will talk about that. During tomorrow's program of course. From our insurer match dot com studio.