WRKO>Audio & Video on Demand>>Full Show 1-20-17

Full Show 1-20-17

Jan 20, 2017|

Full Show 1-20-17 by The Financial Exchange

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

I. This is the financial exchange with the Barry Armstrong and shuts other. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and chunks done. It's inauguration day and Donald Trump will become president of the United States in one hour and 54 minutes. The stock market is in positive territory first time about six cases that call. Very Armstrong trucks ought to with you on a historical day and I think what do we doubt sixties or truck on the depth. That sounds right I have been to I haven't on the map it sounds like somewhere in that ballpark. I mean just pull this up and take a quick hook yet been 12345. Days ago. Five days and well we're well I guess I guess six yeah six days the rules are. Coca-Cola six days down and were up today and it may be some pent up optimism I think you'll be a lot of people that are trading today saying hey I am by Donald Trump's president I'm buying in. Dow's up 93 points the S and p.'s up eleven I saw the ten year treasury. Giving up a little bit dangerously higher but I think I sought it would 249. That's a big jump that week. It it Williams is the last couple days I mean we were down in that 2.3. 2.3 two range for. Really a couple days there and it's it's being in the last that they could since Wednesday. Yes since Wednesday that we have moved up there are so you do have people selling out of treasuries a little bit over the last couple days here now. And we'll see you know maybe we do wind up getting back at that we got up to two point six. One point back in late December. We'll see if we get back. Aren't well I was reading an excerpt from Donald Trump's book and I don't know if you've read this or not it's called the America we deserve. A price be required reading at some point but. I want to read this paragraph two because I came across I think it's a worthy topic for our conversation today. The solution to the great Social Security crisis remember this was written seventeen years ago. The solution to the great Social Security crisis couldn't be more obvious. These are Donald Trump's words. Allow every American to dedicate some portion of their payroll taxes to personal security count. That they could own and invest in stocks and bonds. Federal guidelines would make sure that your money is diversified that it is invested in sound mutual funds or bonds in not in team ranges. The national savings rate with sore and billions of dollars would be cycled. From savings to productive assets to retirement money and unlike. The previous systems the assets in this retirement account. Could be left to ones Ayers used to start a business or anything else that one desires those are Donald Trump words. And they go back to the block V8 you wanna take a look at the book it's the America we deserved. Written in the year 2000. And how prophetic those words have turned out to be and your seventeen years later truck. Yeah Mayo equities Social Security it's it's a system that we have known has been broken for. A long time at this point. You know privatizing Social Security's been something that's been talked about for an awful long time as well I mean this is a debate that goes back. You know probably somewhere in the range of point 530 years when you start talking about you know the debate about doesn't make sense to privatize or not the privatized here. Does this again let me ask you because of pictures to hear your perspective and talkers perspective on this stuff. Is this generational it doesn't matter if I'm 57 years holes so. Anything he changed Social Security is it gonna impact somebody who's 57 or sixty or 75. This is going to impact people probably most likely to have a big impact on those of you who are under the age of forty and I got Alia. If somebody hits that to me when I was thirty years old paint would you like to be able to take your Social Security taxes and invest in the stock market. That would sit tell me it I'd be all over this as a young investor. Yet the so it sounds great in principle. But the problem is that the average investor tends to do a pretty bad job and actually investing their money we know this because of what we see from the average investor okay. The average investor typically does the exact wrong thing at the exact wrong time so yeah I would love to be able to do myself. But we know from history. That people tend to do things when they shouldn't either a you know you saw all the people piling and attacks doctorate before the tech bubble burst. You know how many people. Were holding shares and CNG I would should add the naming rights for the patriots new stadium. And two years later was out of business not worth a dime they're you know it's those the kinds of things that we saw. And you know it's it's one thing to say oh yeah will make sure that your money's invested and sound mutual funds or bottle how do you decide what sound you know you remember back in 2008 we had money markets that broke the balk. So how do you decide what sounded what's safe. Nothing is completely 100% safe. And yeah what I love to see people able to you know use this money as they see fitter invest this money as they see it sure Corso would. But most. Of our investing history over the last hundred years should the people don't make good decisions. You know he appointed former Dallas mayor guy named Tom leopard as his Social Security advisor. And he's one of these guys to tow truck that he's a he's a privatize Social Security guy. And I just wonder. If this is something where he could dean bipartisan support or defeat Witten sent to the Democrats. Look we've got a problem ever everybody knows you know I've talked about it if we're talking about it. They're talking about it in Washington DC. Social Security your checks are gonna belts in the year 2034 if you're retired now if you're fifty years old when you think and 2030 for a begin a Social Security check every month. You'll at least you'll be getting it checked that he'd been promised. There's about enough money in there to pay about 75 cents on the dollar relative to what you're promise if you think you're gonna get 2000 a month and unite here and get 15100 dollars a month. And lets you fix it. I just think you have a situation here now I don't know if you privatize it at a general who give us private accounts or not. But I think this may be the time even though he pledged not to touch Social Security. This may be something that he dresses during his first four years in office what better time to do. I mean look you. I say I'm an outspoken proponent of trying to do something to fix Social Security because as we know the fixes are relatively easy to do they're not complicated. It's just something that you have to be able to say look we're gonna bite the Bolden do this and none of us are gonna have a great time doing it but won't try to spread the pain. You know as equally as we can. Privatizing is completely changed the system and the question that I always come back to his OK let's say that someone makes bad decisions would bear investments in their Social Security account. What what do what do they do them there as silly little right total luck so do you really think that's what is going to happen though. I like that you really you really think that politicians say oh yeah you're completely I'd like. Is it really hey we just let people live on nothing than. There because the whole point of Social Security was to provide a consistent in guaranteed income stream so that elderly people didn't have to have. Not that well maybe he starts off with a conversation. And of course firstly speaking of mr. trump. We we he maybe he starts off with a conversation a privatization. In this dangerous moves towards the middle which is fix it right to raise the retirement eight reduce the benefit raise the tax I mean the there's only three levers we talked about it a million times struck. Maybe this is a movement towards some kind of a negotiated settlement ought to because the longer you wait remember. Reagan as the last president to deal with this back in 1983 yet the problem today chuck is three times as bad. As when Ronald Reagan dealt with it gets a lot worse today than it was in 1983. It is it and what are the other concerns this from 978. My concern of privatizing is how to elderly people who are losing it in a kind of deal with this you know what let's say the someone's losing their mental faculties and they're not able to make good decisions what what happens then so. It's it's a complicated did you say you want to privatize I think look reforming the current system and then we can you kind of talk about some alternatives. Yell it's let's cut let's got to get our ducks in a row first and then we can talk about what we wanna do from there. Our text number 68680. In our website addresses financial exchange showed dot com do you think Donald Trump. Will privatize Social Security 25% of you say yes he will privatize social security and 75%. Chiming in no I don't think so go to our website if you'd like to vote in our poll question of the day do you think Donald Trump and privatize. Social Security. Coming up next we will be joined by Christopher Mims from the Wall Street Journal. Talking about how electric. Vehicles not just cars how electric vehicles could end car ownership. As we know Christopher Mintz Wall Street Journal next from our insurer match dot com studios. Breaking business news daily only here. On the financial exchange radio network. It's not too late to get a great raid on a whole mortgage leader banks specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader back a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Milledge number 449250. Subject to credit approval leader bank a step ahead. According to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and the average cost is expected to increase to 169000. By the year 20/20 six how quickly would your assets being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection claim in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they have put together a brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer get your free guide today to learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our web site legal exchange showed dot com. Hi everybody very Armstrong here from the financial exchange Adam joined by Jake tool who's a senior vice president and leader bank. And leader bank has an exclusive. Program for those of you who are landlords if your corrupt collecting rent from one tenant for a 101 tenants. He rant might be something that you wanna look into Jake talk to us about zero at how long has it been around. We've been offerings he ran for almost two years now two years and his have been successful spent extremely successful we've. Offered this product to really target hardly in the hours were still collecting checks in paper form in this day and age. And the purpose of zero needs to really bring everything on the line between electronic but more importantly. How did he said it and forget it so what's Elaine more hazard tenants that up. I'm really there's nothing that needs to be done until the leases over. The rent is automatically drafted from the Tenet's account can you choose the date of the month is it always the first of the month there could be that if there that's a sign attendant on the fifteenth could be the fifteenth of every month yup absolutely so landlord sets the initial date. Whatever day of the month that is. It'll be the same date every month of the collective how much does it cost the landlord to set this all so it's absolutely free if the wayward banks with us OK so if you're a landlord knew if your bank account leader paying you get this is you rent service for you get for free. That's you have a bank account elsewhere will still provide a service for small monthly charge. And if you ever decide to move your bank relationship overweight defeats that. Pretty pretty simple it's pretty cheap. And it's a great product our landlord perhaps the only club. Love it all right it's called see rent and the website for his WWW does he rent dot net. Or you could call leader bank at 8776917900. To learn more 8776917900. Collect your rent electronically makes an awful lot of sense to me the phone number again 8776917900. Or visit. Zero rent dot net. Securities offered to securities America team members finreg SIPC and advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. Then on top of breaking financial news by becoming a member of the carries brigade. Plug on the financial exchange dot com and sign up today. And Wall Street Journal few days ago. The title of it how old electric vehicles could end car ownership as we know with the reporter on this story was Christopher Mims from the journal. And going to snow today on the financial exchange talkers for RU. Yeah yeah. So our weakness continue to see improvement in battery technology. And seniors. Yeah so agreement battered balance the under. Now to talk about it in a little bit better every year and what you're gonna act a bit different. But it you're looking at the outside. Years. Each occurrence. Because as I was talking to a friend in China. And use telling me he just come back from. Eating and sit electric scooter are very common where people are just riding around on cougar although with the city. Right why do we not see many of those in the United States. A unit eight you know we have the benefit. The world's oldest. Automobile mr. We are your car currently. Ian globe. Most countries out there a lot or that we are that much power per capita income. Talking about power or the other but it the world. Much worse problem. They're pretty desperate or. That are. Late. Proper. In the -- only way what about fifteen pounds. So did did they're lighted elect a leader at cart driver. He you have come. On. That would around that there are people out there are flat out he's. The airplane tutors that are that are more motor cycle and everything. All the right electric bike which are limited only by a lot about it miles per hour. And connect you mentioned something in your article called the arson moto SRK. Can you describe that vehicle forces to its looks like it come a cross between a motorcycle. And car. Yeah it looks like eight long cart the cart behind one apparently cockpit of Apache helicopter horror. It looks very cool. It is great stories on it got a lot of cars like that he can accelerate. Faster than. I got an all out in to work on. Electric motor bomb actually need organ. He comes up this morning. That day break at eleven about a hundred dollars. These. Are now and it is pity is that shortly for people do it. Otherwise it's second car's wheels caught by the motorcycle there it doesn't have to outside regulation as a regular oral car. So it'll be approved for high it would be rebuke to drive it on the highway hears it just going to be used on local streets. Yeah I'd say 88 you can do very deep problem but dollars. You could get. Okay what about buses they I think of the buses being too heavy to convert into an electric vehicle. Butler are remarkable eight square if he brought the economics. More and all other elected or this city are buying. Relatively numbers ABBA Billick I fraction of the week. But it it's going to be company now for buses proper error. It is those numbers but you know they were able to come they sold more than 200 electric buses. Last year. Dozer expanding rapidly ever year and the bottom line with the bus. City you're looking at a cost about were and it's yours he electric but at much lower fuel cost obviously. And I'm waited out more reliable. Obviously much much cleaner that big issue a huge declines like that just a derby. Area and it finally they've done a lot of work about a lot of it that are currently that the or out of out. Less than a typical but there are a lot composite there's less you know the crap out each sequence back. So where they are using these mostly in Asia because I don't recall seeing them in the United States. There are all cities believe it or not gone completely electric. And are trying to. Adult. Just put in a contract that any of these buses are new enough that there's a need in a lot of places. But you're gonna be repeated in York city etc. I mean you won't even know it ought to but he looks exactly like a regular about the past. But it but it into the side. Now some of them aren't apps look at. What but it'll just say electorate and he won't different. So are these like street cars it in try to remember street cars in San Francisco and in Toronto where there are wires running -- above them in order and charged that its same principle here these Indy running on independently on batteries. They're completely independent of you know battery technology is good enough. You know there's been a lot of other development about Carter's got a lot better. You know they've got all. Com though Betty have a league. But very large object or a lot of battery. But this battery developed at 300 I'll. Typical city not only telling. About half ever well. Though they have Wharton. And no electric vehicle also do great pop art. Condition and hybrid he could not cover all that and but is breaking. This help us with traffic at all in any of these. Dot com. I don't want in the electorate but there's lap. Traffic and traffic is. It's not it out the economic problem but what we on. The carpet at top of caught up. It that we will use them as much as we possibly. I think we border. Evil and mortar. People just kind. Or. That portrait. The only police traffic. They're very popular but but other country. Are actually charge people under city. Right. Well prefer thank you very much for joining us appreciate your time. Up. Crist fuhrman's Wall Street Journal lecter vehicles sounds like they're making more progress in other parts of the world then perhaps in the United States but they're coming. Donald Trump takes office in one hour and 33 minutes and truck against the big question is. What do you think on the first hundred days and news the the first hundred days for president are critically important. Or are you talking about what I'd like to see remember what I think is likely. Would you what would you like to see him do in the first hundred days with two Q what would be. The best thwart not necessarily the stock market but for the economy and force side. I think if you get corporate tax reform done by men again were talking first hundred days of by April 15 there's a by tax day you get corporate tax reform done. I consider that a success that's how does that help the American worker that's a big piece of legislation when you look at what it does how does it help the average American worker. How does it help that guy that's on his way to work right now he's on route ninety and and he makes twenty bucks an hour work and for somebody. How does he benefit from corporate taxes being reduced. So it doesn't necessarily benefit someone in their current job what it does is it allows companies to bring back. Other jobs that may have been off shore for tax reasons just because the way that you typically easy earnings measure a lot of times say you know earnings or after tax in a lot of cases and so. What you see is if you're able to lower taxes of the companies to move either headquarters or production facilities back into the US. It may not affect someone at their current job but it may allow someone who doesn't have a job to find one that's you know opens their skill set. Or it bail out someone who yeah I'm getting paid forty dollars an hour right now. Maybe a job comes back into the US it's paying 2223. So it's not gonna be a case wages won't double overnight you're not gonna see that. But it may be around the edges on the margins you better jobs coming back for people. The and and things along those lines that's really what I'd like to see and I think I think it's very feasible to get that done. In that first hundred days. Up next we'll have a trivia question for you based on past presidential inaugurations. That and more from our insurer match dot com student. Making your Smartphone even smaller here Dell Motorola mobile lab by surging financial exchange okay nice to Jordan who. Who played stores this is the financial extremes radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take Haslett Brent take we're zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW dogs he ran dot net to learn more would you rent your payments reach unit to receive regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dogs he -- dot net to learn more or call 7816418691. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan into an IRA how about changing your investments to an income focused portfolio you know win the optimal time to collect her Social Security is Titus is very Armstrong and there's so much to consider before you stop working my firm the Armstrong advisory group has put together a 2017 retirement guy that can help and it's yours by calling 803934001. You worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last call us right now at 803934001. That's 803934001. Or download a copy from our website at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of the professionals familiar with the laws in your state. The holidays -- over the new year is underway and now is a perfect time to reset your schedule and its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me was reviewing my insurance -- hi this is Jason -- of the financial exchange radio network if you're like me and needed to reset on your insurance policies I want you to call the insurer matching agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy in a brand new auto policy that included coverage of a third car from my older daughter because lord knows she didn't want to wait around -- -- to borrow mine call insure a match today at 844 -- 99 matched that 844 and 99 match and through their Massachusetts division and charter let them researching present you with information that is bound to help you I saved over -- thousand dollars a year -- minute deal and I know they'll try to do the same for you call today at 844 and 99 match that's a force for 99 matched or visit them online at insure a match dot com. Saying you're the best disease. Proving it. Well that's something else that it people mountain we're happy letting other people sing her praises like Stephen Agassi who once again bring this number one for our orange bubbles. The fact that earned 90% snowmaking coverage is number one in Vermont. But our best endorsements are made by the thousands of people who put their trust in us. But people mountain resort always amaze always snow and all recently put your trip with confidence that it chemo dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates and doing what a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Workers leader bank dot com member of. The SE equal housing lender and a well a number 449250. Subject credit approval leader back a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollar offers fixed or variable rates for both purchases refinances all originations are managed by your bank's local underwriting processing teams were additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Maverick DNC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and the average cost is expected to increase to 169000. By the year 20/20 six how quickly would your assets being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection claim in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing Homestake and you haven't done your planning before you write that check pick up the phone and call 8668485699. It's an expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they've put together brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer get your free guide today to learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange. Oh does come. It's our daily poll question had financial exchange showed Doug John. Vote your conscience there hard just vote go to financial exchange oh does come in castaway. Donald Trump we'll take office in one hour and 26 minutes. And we started off the show with a conversation. Regarding Social Security. And I asked do you think Donald Trump will privatize Social Security in the numbers are overwhelmingly saying no he will be gone 83% saying no he will not privatize or 60% of you thinking that he will. Perhaps some barking up the wrong tree truck maybe maybe what world are looking that is at least up a fix Social Security left and asked that question next week. Do you think Donald Trump will fix Social Security I don't. I don't think I don't I don't think anything happens here you don't. Well here's our look at is from a political perspective if you try to make changes to Social Security right now who owns that. Republicans there's there's no one else in power so you're you're it I find it hard to believe that you're going to do it then. Just because there's no one eakins they'll do you can't say Democrats forced you to do. Don't know I think you go when you get the Democrats the boat with plywood and I think you'd go to them and you say look we had a problem here what the incentives for them with so let's work on a bipartisan. Solution. To a major financial problem and let's not worry about anybody who's over 55 so take you take the 55 group. Out of the equation and you only should burden the younger people like Utah with the problem. And you say that upward change the deal and and you one would go well why would they go along with you. Somebody's got to somebody has to be the adult in the room and say look the system is broken and we're gonna fix it and I just. I wonder if he doesn't go to Chuck Schumer today what we do a deal here and do something that's in the best interest of the country for get a vote political scientist just doing the right thing you think the you don't think there's any possibility that. Have you seen the way our politicians work. Well marijuana is legal now Massachusetts and I'd started to partake in I've just you know hoping. You know that maybe this is an issue not I'm not talking about the first hundred days I'm thinking you know to hear from Reagan did it need three so he was. Well good two years into his administration and he worked with the Democrats on adopt escorted back in time and and I guess it made maybe it's time this guy. I do see is being a very very difficult to it's a tough putt there keep in mind when Reagan did it. And Democrats controlled house 272 seats in the ninetieth congress. All right I promised you trivia based fallen. In past presidential inaugurations in today's inauguration day. What was the name of the first woman. To ever inaugurate. An American president now our text number is 68680. In the first listener with the correct answer will Whitney 25 dollar gas card. What was the name of the first woman. To ever inaugurate. An American president 68680s. Or text number. Turks should we pay any attention to how the stock market performs during this next hundred days I was looking at a chart and he gave me you know. How Ronald Reagan did during his first hundred days in George H. W. Bush and Bill Clinton all the although it back to that Reagan. It is this relevant at all is it worthy of a of of looking at historical basis. Not really it it typically doesn't have any bearing on where things are going to go over the long term. If you look at the last five presidents you saw Ronald Reagan George H. W. Bush Bill Clinton and Barack Obama all actually had positive momentum in the S&P 500 over their first hundred days in office. Obama in the first bush having the strongest. Performances over that time period where's George W. Bush the only one who had a negative performance in the market. During his first hundred days there's so it doesn't necessarily reflect where things are going to go and oftentimes it can be impacted by short term. Fluctuations and things that are going on in the case of Barack Obama put the market already fallen. Just about it pretty close to where was bottoming out. And so there wasn't much further support to fall doesn't reflect anything that he did those first hundred days likewise you talk about George W. Bush. He's coming in raise the tech bubbles bursting its no fault of his own either so. It's it's often indicative of something that happened. Prior to those people coming into office. As we discussed that it was either yesterday or maybe the day before. I generally don't think the president owns the economy until somewhere around nine months in once they've had a chance to try to shape what's going. Well and boy I I'd give it more than nine months I think that if if that that's a trump gets his economic plan done. None of it kicks in until next year and these tax cuts that's gonna happen to lecture. Though won't it won't happen till next year but keep in mind the market will rally in anticipation of something gets passed. One thing I want to warn people about it and I just. You know lot of people are doing comparisons to Donald Trump and Ronald rate. I would think it in Turkey you studies history pretty extensively I think you may have more similarity. In this case between Donald Trump and Teddy Roosevelt then you do between Donald Trump and Ronald Reagan that's just my. My gut telling me that you know if you look at their personality types are both New Yorkers they both say if it's on the top of their head they stated out. I did I get more but Teddy Roosevelt field from mr. trump that I do Ronald Reagan Ronald Reagan was agreed order a gentleman. You know very coached in his words trumps anything but. What think you're gonna see similarities between both of them I think that I I do tend to agree that he does share some characteristics with Teddy Roosevelt in terms of his overall. Outward approach and how he tends to. You know that the the way that he speaks and so forth. But I do think that much like Reagan relied on his cabinet significantly I think trump is as well. Yeah he's a guy who you know if you believe the rumors to his vice presidential candidates and look you know a pretty much what you do you you can handle a lot of the big things up. And I think he's going do deferral largely. To a lot of the people around him which is this tomorrow to what you saw from Reagan Reagan tended to defer to a lot of the people around him in his in his administration. We will see. He don't forget Cushing and dole and making it guide available for the month of January it's called nursing home planning for the procrastinators who's a procrastinators well. If you're sixty years old and haven't done in a state plan I would label you as a procrastinators. Call Cushing and old people free at 8668485699. Yet the entire. Guide made available to its all about nursing home planning for the procrastinators. The phone number 8668485699. Its toll free 8668485699. Let's run through the end unemployment rates for three of the New England states that don't have New Hampshire Maine and Vermont but I do have. Massachusetts Rhode Island and Connecticut. Massachusetts ending the year truck with the lowest unemployment rate in sixteen years. Also in Massachusetts I think we created a net of 75000. Jobs. Yeah Massachusetts the state jobless rate is now down to two point 8% a full 2% below. The national average at this point in every continues to drop as you mentioned about 75000. More jobs available at this point. In the number of bomb masters residents participating in the labor force. Increased by a quarter of a percent as well over a year earlier so you do have more people coming back into the labor force. In Massachusetts well Rhode Island. Was 2000 jobs in December the unemployment rate there is at 5% right now pretty much. In line with the national average year. The State's labor force also shrank a little bit there as well in Rhode I don't believe in and not as only regained 91%. Of all the jobs lost. During the Great Recession since they are still not acted to kind of treading water there they still are down a significant number of jobs. From the op peak prior to 20082009. A Connecticut struggling as well Connecticut today as fewer jobs than a year ago. You know they can etiquette I've got to tell you the Connecticut needs in nickel. You you look at what's going on in Connecticut. You know fewer jobs today than they had a year ago. Yes the unemployment rate is going down. But people are leaving the workforce and they're leaving the state you know they're guessing and heck that we're getting out of here. And you've got a lot of high income people that are leaving because they have attacks Turkey's Connecticut has. And income tax. 9%. On anybody who makes more than a million dollars a year or so think about those guys in Westport Connecticut think about those guys in Stamford skeptic it. You've got SEC capital which is now point 72. And you've got that great Galley group imagine how many people and great values group at Bridgewater associates make well over a million bucks a year yet it. And the big thing is Connecticut effectively they've they've over promised and a lot of cases on what they're trying to do and as a result they keep having to raise taxes and the problem is it's getting into a cycle now where people keep leaving so they keep having to raise taxes more. It's it's it's not pretty and it's it's the exact opposite of what you're seeing. With a lot of states down in the southeast right now where you talk about. You know in North Carolina South Carolina Georgia that have been very business and personal income tax friendly. And what he's seeing is internal people moving there. You're seeing a ton of people a ton of businesses moving to those states because it's cheaper to do business and it's cheaper arsenal of and because of that you know you're continuing to see a migration south plus no one wants to deal with all the cold weather appear I mean. Really so yeah. You know it's not all peaches and China sunshine South Carolina community. I think pretty much all peaches and sunshine. That's what I hear. The I think the big reason that people relocating. Here housing cost you that you alluded to use you can live. In South Carolina 4550000. Bucks a year try living in. Especially. Southeastern southwestern. Connecticut on a good law that law you can't do now. So the cost of living but just the business environment in Connecticut has deteriorated. Herald in an effort sure it has yet. Hey up next Rick talked about that story that is gonna make your blood boil. The US army. Has awarded. Huge army hand and deal to me foreign. Company in and play I just don't think that's what happened under the trump administration will talk about it when we return. From our insurer match dot constant flow. The markets from start to finish and get Howard daily market recap every day at 5 PM on our new website financial exchange Joseph does come out this as the financial exchange radio network. Hi this is very Armstrong and if you're an active investor you. Probably know about the department of labor's fiduciary role as an independent investment advisor I follow. But not every registered represented is currently required to follow the deal well regulations. Earlier this year the US Department of Labor modify this law and effective April 10 when he seventeen all advisors will be required to practice fiduciary for their clients my staff and I have written a free guide to help you fully understand these changes. And how they may affect you. Calling get yourself a copy right now at 80393. 4001. That's 803934001. Or download the guide at our website financial exchange showed dot com. Dirty suffered a securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. The holidays -- over the new year is under way and now was a perfect time to reset your schedule and its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me it was reviewing my insurance -- hi this is Jason wolf for the financial exchange radio network if you're like me and needed to reset on your insurance policies I want you to call the insurer -- agency one call provided me with multiple quotes from several of the top insurance carriers I wind up with a revised homeowner's policy in a brand new auto policy that included coverage of a third car for my older daughter because lord knows she didn't want to wait around anymore to borrow mine call insure a match today at 844 or 99 match that's 844 and 99 match and through their Massachusetts division -- charter let them researching present you with information that is bound to help you I saved over -- thousand dollars a year in -- -- deal and I know they'll try to do the same for you call today at 844 and 99 match that's 84499. Matched or visit them online at insure -- -- dot com. Her are strong here and I'm joined by estate planning attorney Todd pluck from the legal exchange in Cushing in Dolan were talking about. Last minute planning techniques if you're procrastinators. This segment is for you. Todd we talked about married couples in the past and what can be done to protect healthy spouse in the event that somebody's going into a nursing home. What does somebody who's doing planning for single or widowed individual. View with what do how the circumstances different for a widow as a. Host to a married couple. Well you know I'm gonna focus on the home here because most of the time people have a home that if they have a home that's one of the biggest assets that they wanna protector preserver on currently. You know leading money that's children or family members is one thing but leave my place to live with no mortgage this is a home run. And so they don't want to lose their house in so even when your single. There's a way of saving a house last minute it's not the best. It vented advance planning is always better. But the whole value to when you get help applying for Medicaid to check a boxing I intend to return home even if you don't. So then at least make house non accountable then they'll put a lien on it. But it will be non accountable so that you can go on Medicaid which really means you instead of paying 141000 dollars a month. In losing the house you go and you pay 6000 dollars a month less your Social Security of say two or three. In the lean running up on the house is now only 3000 dollars a month. That's manageable. For the beneficiaries who got to keep the house. If you're procrastinators. This guide is for you it's called the last minute guide foreigners nursing home situations. Call 8668485699. It's exclusively available from Cushing and Dolan. What do you do as a last minute plan when you have a loved one entering a nursing home 8668485699. Told free. 8668485699. The markets are still volatile really kick or. Get our weekly market recap by becoming a member of berries brigades visit financial exchange showed Judd come and sign up today. Donald Trump takes office as president of the United States in one hour and ten minutes. US district judge Sarah Hughes became the first woman to ever inaugurate an American president when she administered the oath of office. To Lyndon Johnson. After the assassination of president John F. Kennedy on November 22. 1963. Tough question but we did get a winner. We certainly did in the first person with the right answer is Kerry from Concord and Kerry takes 0825. Dollar gas card to gulf. Finally don't forget about Armstrong advisory group's offer for a free portfolio review. That AG help you pursue your financial goals cultivate told free. 800 393. 4001. That's 800. 3934001. And set up your appointment today Armstrong advisory group in securities American companies are on a Philly. The Pentagon said Thursday. That six hour. Had one at 580. Million dollar contract to supply the US army with new handguns. Ending a long running contest that had attracted fierce criticism. For me senior military chief and I bring this up chuck because. Many of our listeners who work for local American owned gun manufacturers including Smith & Wesson. And I don't think they look at this is a slap in the face. Well I mean I think that the Pentagon probably knows what they need in a weapon I wouldn't assume that they are. You know do what's in the best interest of their troops not what's in the best interest of American manufacturer. General Millie sedated defense conference last year. He gave me seventeen million dollars in credit card and I'll call Cabela's tonight now outfit every soldier sailor airman and marine. With a pistol for seventeen million dollars and I'll get a discount. On a bulk buying instead we're giving 580 million dollars to a German company. Four. That this we have of their made in the US. Note the there's still yes they are made in the United States acknowledged I mean do you know who makes their weapons today for than the the pistols and it's Beretta. Brett is an Italian company. Now they've British had the US contract for the US military since 1985 of the last 31 years we've gone through five different presidents. And in each case Barreto has won that contract so. I don't even know when the last time US pissed DO pistols for the US military were made in the US. It's I mean they're not made in the US but owned by US company. Again six hour manufactures in New Hampshire they've got four different facilities there in Dover epic eggs that are renewing and I don't see a problem with that. Oh I'm a lot of money Mary being military experts inside the military saying it spent two months. Well no I think they were they criticized the process I don't know of they you know. You're not actually going to be able to buy 600000 weapons for seventeen million dollars you can't do. You know that's thirty dollars a weapon that doesn't happen if you're buying thirty dollar guns they're not gonna work so you've got to spend some money on it and look it this is one place where. You don't really short changed near the military in terms of you know. Handguns and things right it's it's kind of a place where I'd say look I'll give you little latitude here and other things like you know the joint strike fighter and so forth. Yeah the process is dumb it's an overpriced bloated piece of something that doesn't really work well. But in this case look it's it's relatively short money in the broad scheme of things for something that you need. And I think it makes sense there. Windsor locks casino could be at the airport or tobacco farm. Connecticut they're gonna add a third casino location. I I think this is going to be in the state and YouTube it's too much. Went it is all it's doing. It is just my opinion. I'm not a gambler news I don't go to casinos but your are you just feeding an addiction made maybe this is part of the problem Connecticut is suffering from. It is too many casinos. Well I mean it did look it's definitely not a a happy place to go in a lot of cases and I'm someone who like I go to casinos on a fairly regular basis. Minutes it's not the happy is pleased to go necessarily and you know I think in general the more of these that you build what you just are cannibalizing from each other to. And we've we've seen this with you know the type of tax revenue that police expect to bring in and then it's significantly lower because there's so much competition. So. And this is being done to compete with the casino that's under construction right now in Springfield. Yeah I mean I think I'm gonna be very curious to see what happens in the Connecticut casinos once that Springfield one opens up. Because you know especially anyone from Vermont and New Hampshire. You're gonna go to Springfield now you're not gonna go all the way down to Connecticut race you know so it will when will Springfield open is at eighteen. I don't have I can't remember I think that's eighteen I wanna say late June or July you're somewhere in that ballpark. But and not somewhere would be good enough to have the that Beverly had president of that to Springfield. Yeah member he was that he came in studio to be maybe conceit. Tucker if you be good enough to come back and just give us a progress update when he eighteen. You know but I'd like to get a progress update on where they are. Because it's already having an economic impact on Springfield because all the jobs so we had I'd love to get an update. To operate on yum after it. But the day you you've got to two casinos even Mohegan Sun and foxwoods and last I checked every month every quarter there. Announcing declining revenues people are going less frequently. Yeah I mean it is going to be a continued problem I think especially you get the Springfield 1 and then covering eastern Massachusetts to get the one and ever Wear. Driving home yesterday saw cranes of their for the first time. What does that 2019 certainly yet that's I think it spring of 2019 is what they have planned there. Donald Trump will be inaugurated in one hour and four minutes the markets are rallying on this inauguration day. Right now the Dow Jones Industrial Average is up EV nine points at 191822. The S&P is up ten points. At 2273. NASDAQ up nineteen points at 5559. Crude oil to construct crude oil trading at almost 54 dollars a barrel runoff. You know we get to see a little bit gold global five and helps when thank you for tuning in to this hour of the financial exchange trucks ought to. Tucker Silva and be very Armstrong. All right here in our insurer match dot com street. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan into an IRA how about changing your investments to an income focused portfolio do you know win the optimal time to collect her Social Security is hi this is very Armstrong and there's so much to consider before you stop working my firm the Armstrong advisory group has put together a 2017 retirement guy that can help and it's yours by calling 803934001. You worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last call us right now at 803934001. That's 803934001. Or download a copy from our website at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your. I am very strong 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 were offering a tremendous deal for a 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 you should really pay attention to you can secure a four year loan and fixed rate of three point 99% with absolutely no closing cost alone to be up to 50000 dollar and leader bank promises a two week turnaround in underwriting 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 8776917900. And you can lock in to this great offer 8776917900. Or visit them online at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject of credit approval leader bank a step ahead. The holidays are over than new year is underway and now is a perfect time to reset your schedule and its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me which reviewing my insurance plans hi this is Jason Wolfe of the financial exchange radio network if you're like me and needed to reset on your insurance policies I want you to call the insurer matching agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy in a brand new auto policy that included coverage of a third car for my older daughter because lord knows she didn't want to wait around anymore to borrow mine call insure a match today at 844 or 99 match that's 844 and 99 match and through their Massachusetts division and charter let them researching present you with information that is bound to help you I saved over a thousand dollars a year in -- -- deal and I know they'll try to do the same for you call today at 844 and 99 match that's 844. Oh last minute. Planning techniques. For when you have a loved one entering into an arsenal more and more people are providing in home care for their loved ones talent is there anything. Medicare provider can do that would be beneficial to them or the fame. Yeah it's a huge problem today buried you might imagine so many people are leaving their jobs even in there with their families and and when that happens. The person who's doing it isn't that China isn't necessarily looking to get paid but they gave up their job. And I can tell you the parent is okay pain and they don't mind. And so what happens is don't just pay them because if you just pay them it's gonna look like a gift. For Medicaid eligibility purposes and it's only gonna hurt you. If later on you go into the nursing needs some kind of a contract between the parent and the child worthy on to the child for exactly. Between the care provider in the caregiver. I and the care the recipient they need it a personal care contract it needs to be drafted up. What that does is it cleanse his the relationship and says look there wasn't intent here to get paid and you are providing a service and you actually have to report on your income tax return. Got really close the transaction and prevents it from being a disqualifying transfer. So the person who got the money can keep it even after the all loved one may need nursing home care. Medicaid planning use. Complicated and you just heard about it caregivers contract as it relates to protecting assets last minute call pushing and dole and 866. 8485699. And learn how you can conduct last minute planning for nursing home situations. 8668485699. To get the guide poll free 86684856. 99 I bet you can't have it all crowd the same people who tell you can have the cake but you can't needed to. Protests why. It's gonna be a fun weekend at Waterville Valley resort Saturday January 28 student dressed like a pirate and join the app pristine beach party to support Waterville adaptive sports program complete. Your day with two things shopping dining. The fireworks at 730 I'll. By the way I'm having your cake and I'm eating it too. Drivers in Waterville Valley visit Waterville dot com Waterville Valley resort is a proud partner of BMW. According to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year in this average cost is expected to increase to 169000. By the year 20/20 six how quickly we do your assets being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection plane in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they've put together a brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer did your free guide today to learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment. One ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally that just makes sense give leader baker Colin learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back. A step ahead. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan into an irate how about changing your investments to an income focused portfolio do you know when the optimal time to collect her Social Security is hi this is very Armstrong and there's so much to consider before you stop working my firm BR strong advisory group has put together a 2017 retirement guide that can help and it's yours by calling 803934001. You worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last college right now at 803934001. That's 803934001. Or download a copy from our website at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of professionals familiar with the laws in your state. This is the financial exchange with Barry Armstrong and shuts other. Tour exclusive look at business and financial news affecting your day your city your world still. Informed and up today to promote economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Donald Trump takes office as president of the United States in 54 minutes and 52 seconds. And right now truck we are in the midst of our first significant stock market rally in the last seven trading days that Gallup. 101. Point. Is the inauguration. Enough to cause stocks to clips that 20000 level. I don't know this is kind of a funky mix here that you have love. Companies and sectors that are moving up you look at your areas that are rallying most strongly today. And up the topics are okay energy and materials are up so maybe it's some kind of rally where people were piling back into risk. And then all of a sudden the other sectors that are up and actually two highest performing sectors are consumer defensive stocks. And telecoms. So it's you know it's part of his weird mix here that you see and then you know your worst performing sectors are industrials encyclical consumers so. It's it's kind of a strange mix that you see here today. And if it doesn't signal a tongue to me other than. You know maybe you've finally just have this market you know kind of bouncing a little bit off a short term bottom but. It's it it's kind of a weird mix there's nothing that I see that's hugely indicative. Where this market is go. Pick your opinion. Changed Holland and oil as it relates to Rex Tillerson now being secretary of state there will be an hour. In terms of we're probably ends of going union unite and I just think there's there's a part of me that says. Gee you know. Yeah Rex Tillerson the biggest oil man in the world becoming secretary of state. I've got to believe that there are some negotiating being done behind the scenes that would bring oil to 6065 dollars a barrel. The way that's not necessarily a bad thing. You know eatery got a lot of people say well it that's terrible but. You know what it if it's good for North American producers. What's gonna depend on OPEC and we know that at this point because he's you know they've really been the reason why prices have been so low for so long and it probably continues to depend on them. I would save for the foreseeable future you're getting to the point where US shale producers are starting to become kind of a swing producers just because the cost structures come down so much. But it still takes time for the you know it's it's a much longer process to get a well running and up to full speed with the shale well in just with something traditional that he ardea drilled. Out in Saudi Arabia for. You know Kuwait or Iraq or something like that. Neo it it's it'll be curious to see that that's where we stand or oil trading today at 52 dollars and 79 cents were doing trivia today we have an abbreviated show but we are doing trivia today based on. Past. Presidential inaugurations. Which president was the first to take the oath of office in Washington DC. Good question. Our text number is 68680. Which American president was the first to take the oath of office in Washington DC first listener. With the correct answer will win 825 dollar gas card. And all you have to do is text the show in her text number again is 68680. I saw this story about Hoover and wanted to get you were. Perception on the they just settled twenty of twenty million dollar. Settlement with the FTC. Based on charges of earning claims for drivers say it sounds like you're misrepresenting how much a driver for. Who broke at our local toll I've been working for Rupert for almost a year now and I've and earned anything. Well you haven't turned it on either well that's true. That is true but. Yep pretty much what they've done is on their website they've listed the median incomes that people could expect to earn in a number of cities. In in New York for example they claim the drivers can earn. 90000 dollars in San Francisco more than 74000. When in fact less than 10% of drivers. Actually earned that much so it was absolutely false advertising to get people. To go and work for them. I don't know for twenty million dollar fine is enough to you know pay out all those claims and so forth maybe it is maybe it is an but it isn't. Yeah it's it's some shady behavior from. The company in terms of misleading potential employees about what they could make I just wonder I mean look. You see this all the time where you know and I've a friend right now who's interviewing for a sales position. And he's talking with the you know the sales manager and guys is okay you can get a base of forty and then you can you know potentially earn up to another forty through incentives in this and that. He may or may not make that I'd I don't necessarily know he doesn't but companies always tried oversell perspective employees I don't know what Hooper did here. Is different from what other companies do other than they post it publicly which I think is kind of the the issue. One of the big problems that they had who is. They play each to provide drivers with the best available financing option to own or lease a car. Are the action in an irony that you and I talked about the right covered this. As easy as a topic on our show. And then the driver went behind the scenes and they looked at how much they would pay for the same car yummy input their credit rating. The drivers were able to prove. That they could get a better deal than going through mover and perk that that was a major part of the misrepresentation. Well and and I'll tell you what I've soured a little bit on who were actually took my first right and left is good enough in December and was was very very happy with that so. I'm gonna start you know work a little competition myself and you know we'll see if we can get my some companies to work on a little bit of behavior me are gonna become a lift driver now chuck. Yeah I mean I can still choose to not drive for lift all the good guys well I'm maneuver driver and I've yet to work so. Who knows and in I still don't have my insurance updated with Hoover showed they still won't let me drive so I got pretty much I've I've retired his new overdrive may that'd take uplift now. Yeah maybe maybe they'll have me. What what widely what did you have a bad experience and over what would happen driving for them or what. No he safety switch to lift why it would've motivated your nose or tried the other server know what it actually was believed to not as I was trying to while I get up to my wedding a couple days before. And the police that I was didn't have these service for Woburn so I was trying to find an alternative and I ended up taking a left. Yeah it's same thing MI in my experience there's no difference between the two companies dump it it doesn't seem doesn't seem to be a huge difference the lip drivers say there are a little better compensated Megan's help him. Sweden is not giving up fight over lobster imports these darn sweet tea I we're gonna have to reinstate our hands on IQ for an. Yeah the IQ band we're gonna have to stand strong with this book is sweet and is continuing to protests that are better tasting and better looking Maine lobsters. Continue to turn up in Swedish or the Swedish waters and overrun. The Swedish lobster population. Sweden continues to disclose that they've had more lobsters. Coming in from the US 32 new American officers found in Swedish waters to which I say good you know. The Swedish fishermen that are put it's the tastiest lobster in the world why would you not want to exactly. They don't do it this is really bad over mean in New Hampshire that's where most of our most most of our lobster. It's going over to Europe is coming out Maine yet in the US sends in this is according to a report out of believe this is as near times. Eggs no bought Boston Globe report there saying that we send in excess of a 150 million dollars there. Of lobsters over to the European Union on an annual basis Canada sells the same speech is a lobster there too so it's right it's all coming from you know the main post up into. What what's the province above main. Nova Scotia Nova Scotia no script and you know that. So it's yeah I mean it's it's a big deal for Maine lobster men and for lobster exporters. And you know you you hope that you're able to see them continue. To export over to the EU. A whistle blower gives three point. Billion dollars in wrongful Medicare billing settlement with ambulance company of the name to the ambulance company was med star ambulance out of limits here. And this employee her her name was dale Meehan I think as a woman. If she yet basically. She turned the men because they were bilking the Medicare system as I finished it. Yeah what they were doing is they were billing Medicare for services that included trips to locations that didn't qualify for reimbursement. For trips that. Nothing to do with any medical procedures and for higher levels of service than patients were required. And pretty much you work for them for a year until finally the company ended up firing her. As you continue to try to flag is billing issue is so pretty much what she did is she filed a lawsuit under the false claims act. And med star's going to have to be paying twelve point seven million dollars settlement and she's getting three point six million dollars of that settlement. Now Tucker today I had asked you to get the attorney on for this woman any success there he would try to get her on next weaker. Chart. Okay. It's just the it's very texting case and you know if you have a little case like that in layman's term Massachusetts can you imagine how much there is going on across the country track. Well it's in and look this is as you said it's a small case in laments there we have here all of the reports and in particular it seems like Florida. Always seems to be kind of ground zero for. Medicare scams probably eight because of the high population of seniors and be. For whatever reason for it is just a hotbed of sketchy behavior for some reason. And so you know that's worth the bad it was like 560 million dollar boss that they had last year. But it's you just have these. Operations all over the place. That unfortunately. And of scamming taxpayers out of millions of dollars. You need a much better internal audit team Medicare you you got to scour these proceeds disease it is rife with fraud. It indicts. I don't think we're catching even a fraction of what's in and week. I'm sorry I was gonna say it's a case where did you may need to spend an extra RBO couple hundred million dollars but you made a saving billions when it's all said and done. That's got to like the IRS right that you if you spend more money on audits you collect more money in taxes and penalties need to get more fraud same thing with Medicare. What percent being. Mortgage markets one trillion dollar pocket of worry don't be shocked when you hear. This next story it's if it's reminiscent of what we saw. Back in 20056. And sent in the mortgage markets one trillion dollar. Pocket of worry and yes you the taxpayer are on the hook that is next from our insurer match dot com studios. Your business team talking about your business needs this is the financial exchange radio network. The holidays -- over the new year is underway and now is a perfect time to recheck your schedule and its priorities it's amazing how much you can accomplish by taking a few minutes to look at the big picture and part of that for me it was reviewing my insurance -- hi this is Jason Wolfe of the financial exchange radio network -- if you're like me and needed to reset on your insurance policies I want you to call the insurer matching agency one call provided me with multiple quotes from several of the top insurance carriers I wound up with a revised homeowner's policy in a brand new auto policy that included coverage of a third car for my older daughter because lord knows she didn't want to wait around anymore to borrow mine call insure a match today at 844 -- 99 matched that 844 and 99 match and through their Massachusetts division and charter let them researching present you with information that is bound to help you I saved over a thousand dollars a year in minute deal and I know they'll try to do the same for you call today eight for Ford 99 match that's a force for 99 matched or visit them online at insure a match dot com. Hi this is very Armstrong and if you're an active investor you. Probably know about the department of labor's fiduciary role as an independent investment advisor I follow but not every registered represented is currently required to follow the deal well regulations. Earlier this year the US Department of Labor modify this law and effective April 10. When he seventeen all advisors will be required to act as fiduciary for their clients my staff and I have written a free guide to help you fully understand these changes. And how they may affect you calling get yourself a copy right now at 803934001. That's 800. 3934001. Or download the guide at our website financial exchange show. Dot com security suffers a securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and the average cost is expected to increase to 169000. By the year 20/20 six how quickly would your assets being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection claim in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing Homestake and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they've put together brand new guide for Tony seventeen called planning for procrastinators. You can not put off this call any longer get your free guide today and learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the icy equal housing lender MLS number 449250. Subjective credit approval leader bank a step ahead. If you missed any part of today's show not to worry for the financial exchange showed dot com and click listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch of that listen button had financial exchange showed dot com. Donald Trump takes office as president of the United States and 39 minutes and 34 seconds. This segment of the financial exchanges brought to you by liter bank with leader thinks so we're rewards account you get 1% cash back with debit purchases. In an extra 10% cash back when you use your debit card. It featured businesses to qualify for the ease in other words cult leader bank at 877. 6917900. That's 8776917900. The capital of the United States moved from Philadelphia, Pennsylvania to Washington DC in time for the inauguration. A president Thomas Jefferson in the year 1801. AdAware on this one Scott from sandwich shop pretty much took an ax to the rest of the field here and came out with the right answer and Scott takes 0825. Dollar gas card. To shell. Additionally don't forget about Armstrong advisory group's offer for a free portfolio review let AG help you pursue your financial goals cultivate told three. 803934001. That's 803934001. Instead of your appointment today. Armstrong advisory group in the securities America companies are on a Philly. It. Took a wanna talk about FHA loans. They have ballooned in popularity. Because most private lenders like your bank or JPMorgan Chase world Bank of America Citibank wells for indymac bank. They have shied away. From the slow down payment loans not because they're bad risks but because they don't wanna get sued by the government like they did in Alaska. Yet you've seen. A lot of a lot of the big banks pretty much wind down a lot of their operations in these in these areas. Taking the odd in back in 2010. Banks accounted for about 62%. Of all FHA loans that were made. Today they account for just 9%. And it is the conservatives all of these FHA loans now they're being made by non bank lenders and they account for 80% of mortgage bonds that are made that are backed by single family FHA loans in 2016. So it's been a big shift in who's issuing these loans and I think the concern is. You know hey you know what types of situations exist in the financial realm where taxpayers and of getting saddled with the loss of some of these non bank institutions. Take heavy losses and go out of business. Well and let me give you the numbers here because these are gonna Shockey. The FHA. Allows for credit scores as low as 500 on a scale that tops out at 850. The average credit score among borrowers who received FHA loans last year with 669. Now I'll tell you track if you'll fight score of 669. That means you have not been paying your bills on a timely basis he means you have been. Consistently late yeah you didn't lead on a car payment you've been late on credit card bills but you've been consistently. Leaked and delinquent with your. Getting antsy which your credit if you have a score of 669. The average. For. News for Fannie Freddie was 743. And what this these that's a bad score 669. It is not I know that a lot of banks of acts there departments that deal with FHA loans largely because of some of the concerns about as you mentioned lawsuits but to be honest my first loan that I got for my my content that I own wasn't FHA loan. And it wasn't because of Volvo credits just because I didn't have the down payment. And so if the program didn't existed all you do put people behind the eight ball in terms of being able to get into the housing market so. You know I I wonder what the right answers to this I don't necessarily know like I do tend to agree we've seen a aid. Rebirth in the last six months or so we reported. On this that there is a massive growth in the super sub prime segment where I think you have people with credit scores below five media that are able to apply now. And that's something we're almost like you said yourself you you know your bank up for failure. But. You know clearly it's a market that does need to be served but we never figured out the right way to do. Well that the banks know how to do it that if you talk to a banker they'd say hey I'd be happy to make loans in the sub prime market. And I know how to underage that meaning in a doctor might graduate from medical school and have. Three or 400000 dollars of student loan debt. And they may have been late on a car payment or two and had a poor credit score but they're also walking into a profession where they're gonna make 300000 bucks a year right so. That bank will say hey I'd like to take that doctor Ron as a client. But I won't be and the reason I won't take them on his client. Is because of Dodd-Frank in you know last time I did get sued me soak up he would. Banks wanna get in this business but in to use C. Some a repeal. Or at least some deregulation. In the banking sector and I think that. They the recent bank stocks have rallied so much in the last ninety days is. They are anticipating that Donald Trump and his administration. Will unshackled the banking industry to some degree. Yeah I mean I guess I agree there but keep in mind these are banks that did. Again that they participated in some pretty shady things in the run up to the financial crisis and you don't just taken axed all of that regulation and say. Look we're getting rid of all of that there's a way to do this and balanced. Regulation to protect the system as a whole. Vs regulation that protects the individual you have to be able did to protect the system is that's the that's the risks we face back in oh wait was it was a systemic risk. We're the entire system could fall apart. You can't protect the individual. From losing money because there's no way to do that so I think it's a balancing act in trying to find the right type of regulation that keeps the system working. But also allows banks to go and make loans. I do wanna mention that FHA loans have a delinquency rate of 4%. Vs non. FHA loans which have the delinquency rate of 2%. Now not all delinquencies going to foreclosure no but it just shows. You know that difference between a 669. Credit score and a 740 credit score right that's that's it it's doubling. The delinquency rate on on those mortgages which is staggering. Staggering. Yet if it does have a very real impact there and that that's why when you typically look at things. Like FHA loans you typically see that may be a little bit higher interest rate you typically also pay that mortgage insurance premium just because it is higher risk. You can vote you can pay off some of the mortgage over time. And get out of the PMI or you can refinance your way at the PM when you refinance your house were he able to get rid of the PMI payment. Yet and so I actually never had PMI on my alone will mile under did originally instead is ages boosted up my rate by quarter percent and took on the risk themselves. So I never actually paid PMI when I had my alone they just gave me a rate that was it ended up being about a half percent higher. Then I would have gotten with a standard conforming loan. Well again. Donald Trump will be inaugurated in 32 minutes and 22 seconds. When we come back we're going to be talking about a Wall Street conflict of interest it'll say goodbye. In order to win special access for their clients we're talking about. The ratings that you see on stocks now and then when we have a guest on he'll say well eighteen analysts have rated the stock as a buy. And you may want to discount the value of it were an analyst buy ratings on any stock that you're considering for perk us. That more coming up from our insurer match dot com studio. You've got Barry Armstrong next financial exchange. Shall look financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buyer gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back a step ahead. Hi everybody very Armstrong here from the financial exchange and I'm joined by Jay tool who's a senior vice president. Leader bank. And leader bank has an exclusive. Program for those of you who are landlords if your corrupt collecting rent from one attendant for a 101 tenants. He ran it might be something that you wanna look into Jake talked to us about zero how long has it been around. We've been offerings he ran for almost two years now two years and his have been successful spent extremely successful we've. Offered this product to really target hardly in the hours were still collecting checks in paper form in this day in age. And the purpose of zero needs to really bring everything on line between electronic but more importantly. Had to be said it and forget it so what's a landlord hazard tenants that up. Really there's nothing that needs to be done until the leases over. The rent is automatically drafted from the Tenet's account can you choose the date of the month is it always the first of the month or could it be that there there. That's a sign attendant on the fifteenth to to be the fifteenth of every month yup absolutely so landlord stats the initial date. Whatever day of the month that is. It'll be the same date every month of the collective how much does it cost the landlord to set this all so it's absolutely free if the landlord banks with us OK so if you're a landlord you have your bank account leader paying you get this is you rent service for fully get it for free. That's you have a bank account elsewhere will still provide a service for small monthly charge. And if you ever decide to move your bank relationship over waive the fees that's pretty pretty simple it's pretty cheap. And it's a great product are lame or perhaps leave club. Lot of our it's hopes he rent and do the website for it is WWW does he rent dot net. Or you could call leader bank get 8776917900. To learn more 8776917900. Collect your rent electronically. Makes an awful lot of sense to me. The phone number again 8776917900. Or visit. Zero rent dot net. Sing you're the best disease. Proving it. Well that's something else had to keep amounted we're happy letting other people singer phrases like Stephen Agassi who once again ranked as number one for orange bubble this. We'll look back and earn 90% snowmaking coverage is number one in Vermont. But our best endorsements are made by the thousands of people who put their trusted us you know. But people mountain resort always amaze always know all we sold a book your trip with confidence at a keynote dot com. According to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year in this average cost is expected to increase to 169000. By the year 20/20 six how quickly would your assets being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection plane in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they've put together a brand new guide for 2017 called planning for procrastinators. You can not put off this call any longer get your free guide today you can learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our web site legal exchange showed dot com. If you're thinking about retirement soon it's time to make some big decisions do you know if you should roll over your employer sponsored retirement plan into an -- how about changing your investments to an income focused portfolio do you know when the optimal time to collect her Social Security is hi this is very Armstrong and there's so much to consider before you stop working my firm BR strong advisory group has put together a 2017 retirement guy that can help and it's yours by calling 803934001. You worked your whole life saving towards retirement doesn't make sense to get professional advice to make it last call us right now at 803934001. That's 803934001. Or download a copy from our website at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Good day on the markets all day long. And our brand new website financially James showed dot com click the on demand includes I didn't follow the markets from pillar to post Olympic financial exchange showed does come. Donald Trump will take office in 26 minutes and ten seconds. And chuck last night I was having a conversation with a friend about a stock. He had just bought. And the reason he had bought this stock and I can tell you the name of the company but the reason he'd bought the stock was he sought that a number of analysts. Had bar higher ratings on the stock. I went into this long dissertation as to why that may not be very good reason. For somebody to buy stock just because a number of analysts have buy ratings. Yet and it in in article from the Wall Street Journal that was out yesterday. Talks a little bit about this actually and it gets into the fact that will get a lot of cases. Analysts who want to attend. Certain events that are that have executives from companies at the in some cases those companies require that analysts to have a buyer rating on their stock in order to do so which used. First bulldozed a massive conflict of interest second not really sure how it's legal. And unfortunately. You know as we've seen so often what analysts are telling people on the sell side meeting cells meaning you telling to the you know investing public. Oftentimes we see banks doing the exact opposite in their own accounts. Well that and you know if you were to measure all the stocks and see how many of them had positive ratings on them vs negative. It's like ten to one you know oh yeah he used to be in pretty tough shape today have a sell rating on that stock. And I would just add in this is just some some friendly advice but. Greatly discount the value. Of a high rating. When you're looking at stock and in fortunately like if you look at it TD Ameritrade or fidelity they'll tell you seventeen analysts have the stock operated as a by. I wouldn't pay one lick of attention to something that's just my advice. And they're also been a number of studies that have shown that in a lot of cases. So stocks with significant numbers of sell ratings on the tend to perform better over the next year because they're able to work through those problems where stocks a buy ratings. Tend to struggle a little bit because maybe the good news is already happened with. Interest in the don't forget to call Armstrong advisory group and get that guy that's available for the month of January. It's all about estimating your retirement income needs. You know if your 5560. Years old and new thinking to yourself wanted to retire in three years or five years ten years. One of the exercises that you and your spouse need to go through is in need to sit down and said okay aware we have a live when we retire. What do the property taxes going to be with the utilities going to be what's the cost of living going to be. When we retired to hiding it so when we retire to. Old line Connecticut. Go through that process and make a determination as to what your budget's going to be what how much. Your your gonna need and then go through the process of figuring out okay well how much are going to get from my pension. How much can I safely take out of my 41 K plan would we get a receipt for Social Security between the two of us that's the process that you need to go through. Before you retire well before you retire my advice would be to ten years prior to retirement anyway. If your student receiving it guide it'll help you with that process call my office the full number is 800. 3934001. Its toll free 800. 3934. Zeros or ones it's all about estimating your retirement income needs. 103934001. Security suffers a securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. You know chuck it sounds like Samsung has finally figured out. Which caused whose galaxy note seven phones to catch fire. Yeah they did they have completed an investigation. At this point and what they found was that some of the batteries in those phones were irregularly sized. That cause overheating. Others just had some basic manufacturing problems and what it turned out is that it was happening with enough of the batteries that were produced that he ended up with these phones either exploding catching on fire. And pretty much resulted in as we've talked about previously you know upwards of billions of dollars of losses. For Samsung. And really just a black mark against the brand as far as. How consumers perceive them just because a lot of consumers don't know exactly which bones were affected and so they may have stayed away from the company as a whole. Well that's true you know one of the things. Discovered last night was I was reading this story in another one. That about 4% of Samsung's seven note. Purchasers have not turned the phones it meaning they're they're keeping them because they like that some tickets are a heck of a good phone is just the fact that they blow. Yeah I mean look yeah I guess you can keep the but he still can't travel with about a plane. No you can't is not effective is it the problem has reached such a severity level that Verizon is turning off the service and they've really missed it. Really I didn't know that. It's it's just yet very interesting to watch this. That whole story and then it leads up to. You know people like the the full. So I you know it gives them an opportunity you wouldn't there come out the Samsung eat sometime this summer and and I'll bet it's a heck of a phone when you know it's it's going to be an explosive launch. What I do addition to maintenance though. Yeah. The Oakland Raiders. It looks like they have filed their paperwork for a moved to Las Vegas. They have and they filed this on Wednesday and what they need now. Is approval of 24 out of the 32 team owners before they can move. Reportedly Marc Davis the owner of the raiders party has Bob Kraft in his corner craft does tend to have. Pretty good amount of pull within other ownership circles so it seems likely that this move will get done. But we don't know until everything is finally signed sealed and delivered. And we do expect to have some news on this probably in the next month or so with regards to getting that approval. You mentioned that Saint Louis had to pay the league. And its partners the owners 650 million dollars to move from Saint Louis to Los Angeles and you said that was a good deal. Because the team went up in value. Will Oakland have to make it similar payment to be allowed to move from Oakland to Las Vegas or do you know the answer to that. So reportedly that with the relocation fee for the raiders is 550. Million dollars okay. I believe that's what they're going to end of doing. And it probably makes sense for them from a financial perspective as well. Just because they're current stadium is small does nabbed at the revenue generating opportunities that they like to see. But it's. Looked at the raiders mean an awful lot to one city of Oakland I can tell you that much and it's tough to tough to see them going here. But it does seem like that is the most likely course at this point unless some kind of deal can get worked out at the end but I would tell taxpayers look it did that you're gonna end up with a better deal that team leaves because. Publicly financed stadiums are the biggest boondoggle out there. When it comes to taxpayer money will whose financing the win in Vegas. The public. The boy Vegas good luck though. It's. It could be isn't this what his father though Marc Marc Davis inherited the team from his father Al Davis and Al Davis refused to pay that the. Yes so what Colin Powell and the the NFL class on a number of things Jimmy. Get Al Davis is the owner of the shoot the NFL one point so you don't know anyone yeah I mean you know Al Davis was. A renegade with regards to how he viewed ownership of his team with Ian. The NFL. And what you have. Is in this case you know mark there's views things having a little bit differently. But they do appear to be on the verge of moving to. This new stadium in Vegas and by the way the stadium in Vegas and pull up some information on it. Right now just take a quick look at it. And it is a one point nine billion dollar stadium. 65000. Seats 750 million is coming from additional hotel taxes. 650 million. From the Adelson family Sheldon Adelson and then 500 million from the raiders so. About you know the the biggest chunk about 35%. Is being funded by public money so when today and build that stadium that stadium I believe is under construction already. And I believe is going to be done one way or another in two years. So we're looking at the 2018. Las Vegas raiders pretty much right. Literature in nineteen. Let me take a look yadda I don't have your go Las Vegas raider stadium yet it would be un arms are the earliest opening date would be 2020 well I'll. That's always complain that the two or three years in Oakland. Before they moved but it can you imagine that that's going to be a real destination so if the patriots are playing. In Vegas numerous they would make a weekend I'll usually fly out on Thursday and come back a month. I'll tell you that even without even without the stadium ivory talked about go to Vegas with a couple buddies once the the hockey teams out this act and go Z Bruins games on a weekend. Right oh and don't forget about the Super Bowl. How ya if you imagine the Super Bowl and just out it's not that it's the absolute dream it's really just bounced between there. And New Orleans yep that's us it be just alternate between those two and called today and everyone will be happy. Don't give them any idea guys. I think when we come back or talk about global when you use most of us use Google as a search engine use Google used being used Yahoo! perhaps but I think. Google's most commonly used. Should you circuit should you trust it wind when you use it is is it really. Doing what's in your best interest to might be surprised to hear the answer to that when we return from our insurer match dot com studios. Barry Armstrong and chuck is not a talking about business financing your wallet well about how to keep the green and it. He did hear from the financial exchange radio network. According to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year in this average cost is expected to increase to 169000. By the year 20/20 six how quickly would your essence be depleted if you read to write checks to the tune of 141000 dollars every month. Well certainly a deal to develop your asset protection plane in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. Get some expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they've put together a brand new guide for Tony seventeen called planning for procrastinators. You can not put off this call any longer did your free guide today to learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our web site legal exchange showed dot com. Hi this is very Armstrong and if you're an active investor you probably know about the department of labor's. Fiduciary role as an independent investment advisor I follow but not every registered represented is currently required to follow the deal well regulations. Earlier this year the US Department of Labor modify this walk and effective April 10 when he seventeen all advisors will be required to act as fiduciary for their clients my staff and I have written a free guide to help you fully understand these changes. And how they may affect you. Calling get yourself a copy right now at 80393. 4001. That's 803934. Zeros or one or download the guide at our website financial exchange show dot. I'll securities are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and -- average cost is expected to increase to 169000. By the year 20/20 six how quickly would your assets being depleted if you read to write checks to the tune of 141000 dollars every month. Well it's certainly a deal to develop your asset protection claim in advance life tends to get in the way if you were a loved one are faced with an unexpected nursing home stay and you haven't done your planning before you write that check pick up the phone and call 8668485699. Gets an expert advice from the law firm of Cushing and Dolan which has been helping families just like George protect their assets for more than thirty years they've put together a brand new guide for Tony seventeen called claiming for procrastinators. You can not put off this call any longer get your free guide today you can learn how to protect your assets 8668485699. That's 8668485699. Or download the guide right now from our web site legal exchange showed dot com. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Emirates the SE equal housing lender and the lowest number 449250. Subject credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollar offers fixed or variable rates for both purchases and refinance all originations are managed by your bank's local underwriting processing teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. Minarets DNC equal housing lender and Miller number 449250. Subject to credit approval leader bank a step ahead. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you missed any part of today's show not to worry go to financial exchange showed dot com and click listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen but who had financial exchange showed dot com. Donald Trump takes office as president of the United States in ten minutes and 52 seconds. Google uses its search engine to hawk it's products. You know. It is there anything that's not tainted today when you're trying to get independent research struck. Well I mean these are advertisements why wouldn't do will be allowed advertised on products rarity. The what I took from the article way news. If you search. Best vacuum cleaner that you're not necessarily gonna get the best vacuum cleaner you're gonna get the one that advertised and paid the most money on Google. Well as that ally interpreting Iran how is that any different from an advertisement in newspaper. You know of if you're looking around and easy now advertisement in the newspaper vacuum cleaner which is the wanna pay the most of that spot. So it's I mean bookie you'll always have to do verification on your own that's why. Typically if you're doing research on buying something you say what you wanna go find a third party. You know reviewer like consumer reports or someone like that you know that that's what you do you don't trust Google's reviews. And what do you wet what's the that the story on this Derek Jeter issue peace he started this thing players Tribune yeah about two years ago Rick. Raising money he's he he retired from the Yankees a few years ago yup. But he's got this business venture. That it looks like it gives fans. Direct access to the players without going through the media in my interpreting them properly. What what it is is it simply is a media outlet that does not have outside writers writing afforded just as players who write for it so. For example and David Ortiz retired he wrote an article for the players to be in talking about why he retired so it's a way for. Players to get their thoughts out without having it come through another interview him or from a third part. Another example is Kevin Durant announcing his decision to sound the Golden State Warriors he did that on the players Tribune. It does anybody and it they are this statement because a lot of these players are borderline illiterate. You do date they've they typically are giving us statements to was someone who ghost writes these articles for them. But a lot of them are written by players and they may be edited afterwards. But you do have some ghost writers that do work there as well. What's the business model truck. In terms of. Well how they got to make money pages he's raising he greatly decreased forty million bucks for the venture. So there must be is there isn't an advertising model do you guys following your sports both of your sports fanatics is this something that you. Go to London daily basis. No. I don't either despite this the I'd just go there if I see something going viral on Twitter FaceBook renal click on players the Tribune but other than that I don't pharmacy of going to. On a daily basis. Yeah I ESPN pickup truck like you've seen David Ortiz put a statement out does that it's ESPN a lot to pick it up and put it on their site. Will they they could cited but they wouldn't they would never went back to. You know it's it's it's I mean these there again their separate publications so it would be like you know Sports Illustrated publishing something for me espionage don't do. There but he's raising money. Ports and yeah I'm B a entertainment site I'm curious how they gonna make money is right now it doesn't really look like they are I don't see any ads or anything on the site it's not. Restricted in terms of who can look at it. At some point they'll probably began to make money often but the raising an awful lot of money for media venture in media ventures especially sports an on line. It's it's shaky business. If you wanna buy shopping mall and you should have been in Pittsburgh. Last week there one that was so who's worth. 143 million dollars or one point and sold for 100 dollars. And what do you believe this I I really would have put in a beatified known that this thing was up for grabs you know I mean a hundred dollars for the property taxes on them. Well how much can because I can make an argument now at the fair values of hundreds or should my property taxes be pretty low. Ia Wells Fargo had the financing. These these were a 143 million dollars off on the small. It appraised at just eleven million dollars to the fact is it appraised at about 5% of what it was originally valued at. And then they didn't even again they could even get a thousand dollars for this. You know it it just tells you. And this is again this is not an old mall either. This is a mauled opened in 2005 suits like this is some mall. There was a legacy mall and then all of a sudden things just turned down for so I thought this was a good idea just ten years ago. Oh he Jamie diamond had a pretty good year twenty million dollars and 2016 compensation it's not a bad day is not a bad year right. The take maybe that's probably twenty million reasons why is not the secretary of the treasury. Well you know he would have been my first choice idea. Made that clear but I'm not unhappy with Steve the new action they don't get me wrong but. Jamie Dimon was a high choice but you know the guy's worth over a billion dollars and twenty billion dollars in in compensation. One could argue is excessive but what the stock the girl awfully well last year. We'll start made 31%. And they had record profits of 24. Point seven billion dollars so now. Nearly any time you're having record profits and stock is up by 31%. In you can make the argument he can pay that CO anything you want because he's earned. Well he should Jamie diamond should send Donald Trump but thank you know because this is off curls up. On the election. Use up as of November 8 but was only 6%. Yup big gains that you reference the 31% gain that the vast majority of that 31% gain in the stock price came after the Donald Trump election. Yeah a lot of it did in and really rallied with the rest of the financial sector. So he certainly you know sending him back you know probably will be a nice thing to do. I don't anticipate one going around but you know obviously you know Jamie Dimon. Coming in again with nearly thirty million dollars in total compensation still less than what he got back in 2007 when he did actually make thirty million. But then he has had some tough viewer since then most notably. The 2012 pay cut he took after dealing with the six billion dollar trading loss from the London Wales. Oh that's right you've got a good memory yeah Z that was. A situation where. He hit appointed somebody. Two overseas that operations basically library yuppie neat and that was it was like a fever. I really set my impression was he gave so a buddy it is. A job that he thought it was pretty cushy job as a favor and you know the whole thing went south yup so. They wait on the David Donald Trump will be inaugurated as president the Dow is up 95 points the inauguration just three minutes and 58 seconds away thanks for tuning into the financial exchange. From our insurer match dot com studios.