Feb 24, 2017|
Full Show 2-24-17 by The Financial Exchange
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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Well it's a historic day to Dallas lower for the first time in eleven sections hi everybody it's very truck with you here. On eight Friday there. Go down very much doubt doubt about 34 point we just got some information as a released a new home sales. 555000. New home sales made the estimated at 571. Yeah I've seen estimates anywhere between 566 and 570 so little bit of a miss on new home sales. You know again you're talking about one yeah of 1% there really when it's all said and done. Generally those have been pretty decent the last couple months sort of put a ton of stock into it. And especially you know with how on housing is being the you know to have one month or so we're things cool off a bit it's not necessarily. Huge nobody. Like I guess there's two sides to this trade if you're a homeowner. Who is either selling their house or thinking about selling their house. You wanna see. New home construction in new home sales not doing well race because that we there's more competition for your existing yelled inventory yup. There's new home is new construction period if that's. New construction newly constructed houses. And so the part of me that is a homeowner insane while in the next few years I wanna sell my house. Then you're looking at that data you're saying well what's keep new construction doubts given just how it is for your body your tennis and now they're saying well maybe. Yeah he gets more options more inventory on the market. You get things loosening up a little maybe have a little bit more opportunity. It's amazing to see the volume of sales given the lack of inventory unity at some point you reach an inflection point and you know the prices well I guess last year must have been the year is would we say housing prices in the city of Boston or with 70% yet noticed I wonder like what happens though is let's say the prices keep going up and that keeps making it more unaffordable for people who don't have homes to go and and by its start buying them. You almost wonder if at some point then. You know where is that point where hate you just kinda Max out in prices do top off their I just don't know where it is you know at Yves saint prices are high. Bright but I knew I look you know you look. If you look at the city of Boston or you can look. You know look on Cape Cod they have to. Educators on the tape or you have a doctor and a nurse that live on keeping their buying a house down on the cape yeah. It's not that expensive you may not get your dream house be going to be of the buy whole house and if you get to professionals that C yet. I don't know a lawyer and a teacher in the city with your combined income household income 15200000. Can be. Yeah I mean I think the big thing that I look at that the ratio that I tend always look at here. Is the ratio of home prices compared to incomes OK and historically. That number when you go back and look at the long term average there. Okay historically. You like to see that number somewhere between about 33 and a half so what that means of family historically was making 50000. You want to see them buying a house somewhere around 15170. Fine delicate fairways making 100000 they can buy between 30350s. Somewhere in that ballpark. What happened during in the in the run up to the financial crisis is that ratio went from in that three to three and a half range up to over for an. Bloke I and so were I start to get nervous is if you see incomes where you know averaging come right now is median income for families what about. 56 that every 62000 depends where you are in the northeast it's higher and especially in the Boston area it's very have been in the Boston area household incomes probably 8090000 USO average I'm just looking at New England so average household income in New England. Is 61002. Week you can okay. So you take a look at that and say OK so 61000 so. For all doing that you wanna see home prices some work kind of in net 200 range rat on average that's kind of where we tend to be when you get outside the Boston metro area are just gonna say if you're Hartford you get a nice house for two for 20250000. Dollars you're buying a very -- exactly where I start to get conservatives in Boston let's that you do have a couple who combined makes a 150000. Okay. If they're going out and buying a place for six or 700 we saw the median home price in Boston last year was what 792. Okay. That's starting to look a little stretched well they have to go up further you either have to go to. You know they're they're gonna have to go west south or north. Right to do it in order to buy something to play exactly because when that ratio gets out of whack that's where you start getting into problems were people start defaulting on payment elves and banks are struggle and you run into issues they don't wanna see that. And I think the big thing this is why you know whenever we look at the jobs report every month I always like to look at wage growth. Because that's what factors in its hey if you make more you can afford to buy more house and that helps. And wage growth has been we know we talked about that that's been a big problem for a long time. JC Penney whole box I didn't Tucker brought the story to me JC penny to close. More than 100. Stores nationally exit numbers would be somewhere between 13840. Stores I'll tell you what this company pretty much scenes. Early 2012. Hasn't done a whole lot right. They they just have not been able to when they hired Ron Johnson Jeff first then the Ron Johnson the buckle which is going to go doing that he's going to be taught in business school as an objective less than what not to do for the next hundred years you know it's you took a brand that. Had loyal customers and pretty much tossed the ball side and couldn't find replaced. And they pretty much have not heard back to it and BI I'd still say that Sears has been mismanaged. More severely than trees and I don't know casino's second look at I conceal like a thirty year downtrend worse than okay it's kind of been this gradual slide into obscurity. JC Penney's recent days when he left it was a good company and then it just like. Ron Johnson came in noted that thing this and pretty much came in and try to put in a whole new model that just didn't work. I would say JC Penney and -- of a baker probably the two most mismanaged companies the last fifteen years you know the what I found interest in LV is last I always look at same store sales when we're talking about a retailer. Or restaurant. All the its same store sells now they're down but they're down point 7%. And I think that's remarkably good. Given the Amazon for anything about how many orders a company like JC Penney. Is losing to Amazon worked object dot com but really Amazon's 900 growth in the room and not just Amazon for these guys keep in mind their biggest competition when you're talking about people or going out and shopping it's similar stores in TJ Maxx marshalls you know -- we know the TJ Maxx has done a phenomenal job running their business did you TJ Maxx has been able to be one of those companies that is successfully competed against you know they put a good product on the table they know what they are. And I don't know if you saw yesterday. TJX actually announced they're going to be expanding into a new line. Of home stores it's gonna go and complement their home goods brand. Have been in one of those stores home goods it's deadly are sure my wife loves to sneaky good finds there. Well it's it's it's deadly it's if it's an eclectic experience that you walker and you find all kinds of different things my wife to the United States I walked in that the day before the Super Bowl I was doing some cooking and I walked in because I needed a the big soup pot just that inevitably get one to make my jewelry for kitchen supplies and so I walked in. Expecting to get that I come out like for the things in my other looks cool water and I get it's like okay all of a sudden you're down a hundred dollars they. Man that happened in her. And JC Penney is like shared that you know the list due 2000 view when is the last time he stepped foot in DC never been in one man. Maybe sophomore year like high school. Half of that in one out the guy bought anything when Ireland I was in one about three years ago there's one at the Natick mall. In I walked through it on my way to the Apple Store. For that count now now well. A desk as you were physically in it well our our poll question today. Is it it was. Have you been in need JC Penney raised in India and Anders shot about this as you shop yes drop okay our poll question today is have you shopped. Andy JC Penney store in the past year I voted no because. Even though was it their four years ago I didn't shock I just walked through it. That and you guys haven't shopped there I've you know I've never been to a JC Penney architects our our website and articles about. Financial exchange showed a comet like to know we'd be you know the knee. You know we're in the midwest I think people would be saying that we shot that are pretty Reagan because they're bigger in the but yet I guess they I guess you know I've always looked out in the marshals for your money put to better product on the tape. Mean yeah in oval in marshals is TJ Maxx two's yeah. As we have in our town. One former JC Penney EO says that it Wal-Mart is the only one taking in his answers. Is is Ron Johnson ironically and I think he's right to I think Wal-Mart is the only company retailer. Bad news at least making an attempt to compete with them. I wonder how many companies have the resource in the ability to do so go. You know that you're at that point that's the problem is you look Amazon's are in deep budget. And obviously looked know what's gonna compete with them in terms of overall are indeed but it just you know they have such a big head start to begin with. And I just wonder. You know who can go out and compete with them is Amazon last year and keep my it's not all on the on. It's not all on the shopping side of things but Amazon spent sixteen billion dollars on. And noble gentleman is and always be better than jet so you know Amazon spent that much. JC Penney has a market cap of two billion dollars aged victim hit spend that much to do it what. Here is no but Wal-Mart and they can Wal-Mart can compete that Wal-Mart should be able to. Yeah I I hope they can't you know all Wal-Mart has to do in and we and we say Wal-Mart talk about dot com all they have to do to use. When your shopping on Amazon.com. All if you do somehow induce you to try their site deceive the prices that are because it's a commodity when your shopping online is isn't it been reduced to commodity. At this point out by a pair Gina great. I don't I don't afterwards. From GIG they got to go by macadamia nuts it's the same brain that are advise them on what it is in say fifteen dollars on Wal-Mart and genes that help him in public everything you macadamia nasty by its age eighteen dollars is titans. Public but you're talking like our size by what they on the court side or size and a lot of that today had a lot feel like two or three days. Now and I wanna look at a bigger tens and it's the big enough. Up next we will be joined by Jeff Cox from CNBC are going to be talking about stocks and bonds what are they telling us about the trump administration stocks and bonds and their impact. By Donald Trump and his administration that's our next topic from our insurer match dot com studios. Good Korean judge. Stood on the financial exchange radio network. Hi this is Barry Armstrong here's a -- that you might not be aware of Americans spent over seven billion dollars a year on toothpaste and toothbrushes yet 47%. 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Everybody very Armstrong here from the financial exchange and I'm joined by. And leader bank has an exclusive. Program for those of you who are landlords here Cora collecting rent from one tenant to 401 tenants. Zero it might be something that you want to look into Jake talked 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 NH. And the purpose of zero needs to really bring everything on the line between electronic but more importantly. Had to be excited and forget it so what's Elaine more hazard tenants that up. And really there's nothing that needs to be done until the leases over. 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To learn more 8776917900. Collect your rent electronically makes an awful lot of sense to me the phone number again 877697900. Or visit. Zero rent dot net. Security suffered a securities America team member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Data on the markets all day long. And our brand new website financially strained showed dot com click the on demand includes didn't follow the markets from pillar to post bowl at financial exchange showed does come. This segment of the financial exchanges brought huge part by leader bank if you're looking to diversify your portfolio precious metals are Smart investment. Gold and silver bullion coins are now available at all leader bank locations call 877. 6917900. Or log on to leader bank dot com. For more information we're joined now by Jeff Cox a good friend from CNBC hi Jeff curry U. Good morning very paid on. Good I caught your article regarding the stock and bond market and Canada. Did he did divergence of opinions as to how the trump administration's gonna affect both markets. Would that what is the bond market telling us about the trump agenda. Well and it should point out we're ashamed. Real dichotomy divergence between the two aspect classes with the bond market is telling us now is that the ballpark it's not buying into the growth story we saw a big spike in volumes right after the elections and basically yields started the flat line around mid December. And they actually be declining were actually seeing today. The ten years down around 233. So that's. Getting as close to where we were just shortly after the elections so probably divergence of opinion there and which way the economy is going between media. Fixed income and equity investors. What sort sounds to me like the bond market is questioning whether or not. Donald Trump can get these tax cuts that are. Yeah and it was interest in yesterday's Steve minutia in the Treasury Secretary was on CNBC. And east sort of walked back the whole story and and and tempered the market's expectations little bit now he still thinks that the tax cut plan can get done by the August recess which. Aaron Ward war. From the folks I talked to news looks pretty ambitious to get all that particularly. In light of what Republicans wanted to do with Obama care. So he's said. Yesterday told CNBC that. They still believe their pregnancies. In excess of 3% 4% growth from the trump administration's policies but. Don't expect that to start happening until they beat them back out of 2000. Eighteen so that's a little bit different story than what we've been told so far. What he doesn't really need to occur he doesn't really need the economy to get hot until. Nineteen ill a lot of presidents will focus on the economy. In there you know the final year before the run for re election right you need to third year the president's first term in office is usually a great year old stocks. Yeah I generally speaking I would just say though that. The mid term elections are also going to be very important. Trump obviously is kind of in the middle of the road as far as popularity goes I think the latest servers have to have a approaching the 50% range but he's gonna need to keep this majorities in congress so they're going to be doing leasing some thing. Happening. By may be indexed your show so they can hold on to those seats in November. If that is the stock market police I guess that that's going to happen and there's more work concern being expressed about valuations in the market but definitely a difference of opinion. I have I share that concern you know I look at the valuations even if you just look at an index like the S&P death. You look at that you see with the multiple is on that as it relates to earnings. Now bowl tell you yeah but the yearnings are going to be markedly better in the coming years in a barrel tell ya hey this thing is overvalued by 50%. Yet and and earnings have certainly gotten better and part of that is just the beneficiary of Lowell pops because he went through that extended period. Where we wanted to that earnings recession and now we're getting the benefit of you know that the bars and things that very low for four effort in the progression of earnings on an annualized basis. But when the when you look at what the expectations are for the sure they're prepared their their expectations are good but some of the of forward guidance is not. Been great so there's some concern American spirit at it it's certainly seems like there's nothing out there that that would knock this into a bear market does that then of that. Is that that that doesn't appear to be on the horizon. But whether. This level of enthusiasm might look gosh I mean we're worried of you know little over a month and a half into the new year were already up double digits on the S&P 500 soak. You just can't I mean that's a treat it's not gonna keep grow into the skies so that it ethnic at some point those gains are good at least have them moderates somewhere. You know the hedge funds are sure missed out on the seventh you know of individual investors have done pretty well but these big institutional hedge funds I saw. One guy on me CNBC yesterday from organized. And you know he has made a dime for his clients that's that's going to be and that's that's a tough spot to be in. There's a survey. That just that it is just came across my desk this morning from frequent and there are alternative asset tracker fertility industry. And it from the the 2016 returners. 3% 3% of all page from the western shares returns exceeded their expectations. Alba and they're expecting more of course we saw over a hundred billion dollars of reductions about it at fund's management's last year. So that's likely to continue it just seemed active management general these guys are just. Miss in the boat and we had made sure that one in five active managers mister. Outperform basic benchmarks that's where we continues beat that story of capacity index investing continuing became popularity. Person being active managers. The smartest guys in the room right. Yeah that's right a shirt and not putt putt but obviously and Jeff thank you very much for your time appreciate very talkative Jeff Cox. CNBC and it's it it's an interesting time in the markets check the U. You know you you know I've talked about Hussein. Look at little pricey but the incentive and on the next they couldn't goes up you know we've had with ten days in a row with the Dow's up. Yeah and in you certainly have it's it's been a pretty orderly move up and hasn't been you know a ton of volatility and a thousand points in one day knowing it in volatility spikes up or I typically say are something that makes mean they they make me nervous just because you don't like the box he volatility in any direction because it means that people were unsure of where valuations are. In this case you seem to be getting some broad agreement that OK this is where we should be valued right now. I think the big question calms. In what I continue to look at is look. Win will tax reform come through them and what's it actually don't know because. If you under deliver. And if that's all that you really get the room. Where do you go from here and it's done. Yeah that's that's the big question out there so. Again there's still a lot of time to get things done here and and it annoyed her own wife Patti reform now and look I'd like to see it in the next you know few months is well. They to have it by August I think if they miss August if they don't get something meaningful through in August I think the problem. Well here's the thing next year's election right. It's tough to get things done an election campaigning and no one wants to be putting their name on anything it's tough to get things done in election. Up next trip to talk about a lawsuit between Google and Hoover. This one is mysterious we'll talk about that and more from our insurer match dot com student. Making your Smartphone even smarter. Dell logo mobile lab by surgeons financial exchange joke in iTunes or those who who played stores. This is the financial Lidstrom radio network. 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Hi this is very Armstrong the advisors at my firm the Armstrong advisory group have over 110 years of combined experience in the financial services industry and whether you're working with another advisor or not want to give you some free advice finding the right advisor is not always so easy I've written a guide to help you through this difficult process it's the top ten questions you should ask your financial advisor is your advisor a fiduciary does he sell financial products what other fees will he charge you these are critical questions that you should have answers to before you make your decision call my office right now and 803934001. And request a copy of this guide the top ten questions you should ask your financial advisor don't delay get your free guide today by calling 803934001. That's 803934001. Or download it on our web -- financial exchange showed dot com. 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Advance the state planning has many benefits including avoiding probate passing year assets along to your bloodline protection from the nursing home and my favorite possibly eliminating the state taxes I folks this is very Armstrong from the financial exchange each week Todd let's keep who's a partner with the law firm of Cushing and -- educate our listeners by telling them how to protect their assets from the high cost of nursing homes estate planning has many benefits including helping you to not impoverish your spouse if you go into an arsenal Cushing and Dolan has put together a brand new guide the top ten reasons to do estate planning call for your copy now at 8668485699. Or download it from their website legal exchange showed dot com that's legal exchange showed dot com Cushing and Dolan can help you protect your assets 8668485699. That phone number again is 8668485699. Securities offers you securities America incorporated member can rest a BC and advise resources are with the securities America advisors incorporated Barry are represented Armstrong advisory group Cushing Dolan in the securities America companies are unaffiliated. Stay on top of breaking financial news by becoming a member club Harry's brigade. Log on to financial exchange showed dot com and sign up today. Trivia is brought to you by the buccaneer beach and golf resort in saint Croix US Virgin Islands looking for great vacation destination. Call my favorite place called the buccaneer mentioned my name and get it 200. Fifty dollar resort credit on any new reservation on a stake of five nights or more the phone number is 802553881. That's 800. 255. 3881. The legendary musician Johnny Cash would have turned 85 years old this weekend. He will be the topic of today's trivia questions. What will what was the title of Johnny cash's. First song to reach the number one spot on the billboard hot country songs chart. Our text number is 68681. Listener with correct answer wins a prize package. It which includes two travel coffee mugs and T shirt. And something else what does pence in what was the heat what was the title of Johnny cash's first song to reach the number one spot. On the billboard hot country songs chart against tech's number 68680. I read this story chuck about. Alphabet or nuevo which is the the Google division that's developing the self driving cars yeah. And Cooper in it reminded me something out of a James Bond spinal. Yeah what do you while I have here is that a manager who formerly worked for Google in their self driving car division by the name of Anthony. Levin doused the he's accused of downloading 141000 files before he left taking them to start a self driving truck company and then selling that accompanied Hoover and that come last year auto called auto OT TO be exactly so. The of the claim is that he stole trade secrets you've pride Terry material and I don't know if there's any basis to open obviously Google thinks there's enough there that they're suing over this. And you know this could be something that has some pretty big impacts. On neo Hoover's business as they continue to try to develop. These self driving cars that might be something more hey maybe the ones being go to royalty on the east David after shut down production altogether. We don't know at this point but. It's clearly something that's gonna cause more headaches for over it percent when he had to explain. They had some sexual discrimination case or is actually harassment this is big it is yeah. It's its peak what you're seeing on about a sixty billion dollar company have been campaign. Big enough that they had to bring in the former attorney general of the United States to try to investigated now. I mean it like it's it's potentially a really big deal where there have been. Thousands of people deleting their app over the sexual assault claims. Yeah what what the cleanest sexual assault or sexual harassment I think is just that was an both. I didn't I didn't you've got both days so it's the Democrats are claims are pattern with. This that it was brought to their attention by one woman who made a blog post may be. But a week or so ago. And has documented all of her interactions with HR pretty much each case HR blamed it on her that it was her fault and just like. Other employees have come out saying it's an issue like this is a big issue from them. It's like it's. It's not pretty at this point. No it's not pretty is the price of copper heat can you pull up the price of copper has certainly can is the you we talked about the chuck. Minding in Cilic in Escondido. And that's a BHP. Billiton. Copper mine in Chile in the workers went on strike and they're still striking week we reported this I think two weeks ago to. And that's taken a lot of car copper out of production by 41000 tons. Then there's another issue in Peru. Where they're not the drivers won't move the carper. And now Freeport Mac or is having a problem in Indonesia in which is a huge copper missiles. Yeah and what you're seeing here in the price of copper and just pointed up right now and behaving a little bit slow week for me today. Copper prices just in the last week or so. Have gone up. We've come back down a little bit recently but you've still gone. From you know back in October being below 220. Up to over 270 right now. OK so you've seen about a 25%. Bump. In the price of copper and I'll tell you if this is something copper prices have been down for a long time this almost is a welcome thing on one in one hit. On one side get your routing for our producer was here. Well. The fact the press are finally coming back up a little bit and it's because of reasons that you might not like. Copper prices have been so low for so long yup this is something that you know might actually be good for some of these producers that had been hit so hard. Because what copper prices fell and I'll take report Mack ran as an example okay. Report Mac brand one of the biggest copper producers in the world their stock price in the middle of 2014 was about forty dollars a share okay. It fell out one point in the beginning of last year they went out of a 194. Dollars and ninety. In a two year period so they have a lot of debt then I think there are some all the good guys do affecting the real legitimate concerns about their ability to service debt death and and you look they had to cut their dividend completely they went preparing at 31 cents a share down to zero in the span of three quarters now. You know IE I bet. With the future client yesterday. And he's one of the big issues that he wanted to talk community very you know I wanna hire stupid to manage my money. But he said specifically. Do you do you are you gonna recommend to me. Mutual funds or annuities that are manufactured. By the company that you represent. And that's a really good question to ask if you're thinking about hiring a financial advisor white rice say that well. If if they work for giving and I don't pick on any companies I won't do that but if they work for a large insurance company or a large bank. There's a pretty good chance they're gonna suggest you buy the large banks mutual funds with a large banks annuity products. That's a bad situation to be in when you're working with a financial advisor are firm are strong advisory group is offering a guide. That gives you the top ten questions to ask if financial advisor and buy new customer yesterday. Clearly had read the guide because he was armed with really good questions. Call and receive the guy it's free. 80393. 4001. Attack he mentioned this is available on our website and financial change your dot com where you can download again that's easy to get. Thing financial exchange showed dot com or call if you'd rather talk to one of our advisors you can call. 803934. Zeros or one to told freefall. Number and it's the top ten questions to ask if financial advisor when asked them before you hire them. 803934001. Securities offered to securities America incorporated member finreg SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The fire house in China main. It's a wooded town north east of Augusta. Is one of many departments who staffing needs are caught in any demographic. Trap. With not enough young volunteers climbing on to fire tracks. Fire trucks to replace the older fired it in and this is a big problem across the country evidently chuck your generation. Doesn't like the volunteer. In put out fires would that be fun union during that. No it be fun you should you should volunteer the most the writing on the truck looked fun and ups are fighting the actual fires there and it's a problem there haven't really had a lot of firefighters are the guys are in the seventies. Yeah I don't have enough young guys that they needed it. Especially I wonder why people don't like you'll get a lot of the young guys who were in the trades and you wonder why none of them have gone in this direction. Well I think a lot of the guys in the trades are working so many jobs they're the very time. You know probably true probably two through but yet in the past it used to be something that. I I never that the day is like my generation was was big and volunteered for the fired upon yet I mean obviously look it's dangerous drops that's one thing and an army of ours are certainly not normal by any means you know you talk about the watches that yet to have and so forth and it's not you know you do not have normal hours by any means there and look it's a job that beat you while Paulson you talk about those guys. Lot of firefighters by the time the 55 or so. That they're just about done. The there were 820000. Volunteer firefighters in the United States and 2015 that's down nearly 10% from 1984. So go back right you go back thirty years that 10% fewer firefighters. And the population. Grew by more than 35% during that time. Yeah and in particular. You know Maine is an area that has an old population to begin with an average age in Maine is they're median age in Maine is 44 point five he's the oldest state in the country. Yeah I believe it is if you look at the the national median age needs 37 point he now 44 point five in Maine now so mean as they is an older state. To begin with. And you know clearly they're feeling a lot of pain years because they don't have enough firefighters as you said to be able to handle you know the issues that come. Larry Kudlow from CNBC joins us next to talk about the trump tax cuts that's next from our insurer match dot com studios. You radio that can enrich your life and help your portfolio. Oh it's the financial exchange with Barry Armstrong and jobs are now on the financial exchange radio network. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match there -- 84499. Match many of our listeners don't know home and one or two cars -- that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered war also dig out all the discounts preferred customers late you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance and continued time stressed the money with just one phone call and one relationship. Call today at 844 and 99 match or go online and ensure a match dot com. Why should you do estate planning have you ever heard a nice story about probate its long expensive and it delays when your family will receive their inheritance hi folks this is very Armstrong each Saturday on the legal exchange Todd let's eat a partner with the law firm Cushing and Dolan tells us the horror stories of what happens if families don't invest time in a state planning this includes spouses impoverished by a long term nursing home stay unnecessary state taxes paid and folks who have given their home to their child just to have it taken away in an unexpected divorce Todd has put together a brand new guide the top ten reasons to do estate planning get your copy now by calling 8668485699. Or you can download it right now on their website legal exchange showed dot com Cushing and dole can help you protect your assets 8668485699. That's 8668485699. Securities operative securities America incorporated member can rest a BC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group cushioning Dolan in the securities America companies are unaffiliated. Ari Armstrong here and I'm joined by state planning attorney Todd looks from the law firm Cushing in Dolan and we're talking about. Some of the top reasons top ten reasons if you will that you should create an estate plan. Taught first question Korea is there anything that can be done to reduce the amount of XP taxes. European weak pace after you passed away. Yeah you know certainly that's not a reason to do that you're darn right I'd like to say avoiding estate taxes maybe is the number one reason. And I think it's important for people realize that that with the state taxes federally being high you can never forget about the state. In the state estate taxes so yes there actually is and what you should do is. I'm assuming before you pass away. You know you should have these trusts in place in if you create these trusts whether their revoke a bull or irrevocable nature depending on your wish. We are still going to have buckets inside and just. Quickly the pockets that are that are created when one dies are designed to actually. Region and shelter assets on the first and what is that seat a family let's just say you know you're you're dealing with a gross estate. 23 million dollars wooded the minimal savings when you do that. Here in Massachusetts wholesale and I think as two million dollar estate and you're saving absolutely 100000 dollars and just like creating the just like trade in these trusts otherwise you're giving away a hundred grand and to me. We hate taxes but the fact is we don't. Have to pay. Those are the worst kind I hate all kinds of taxes and I'm sure you do too if he'd like to request this guide it's a brand new guide available from Cushing handle on the phone number is 866. 8485699. Called the top ten reasons to create an estate plan. To 038668485699. Or visit legal exchange showed dot com to download the guide. Again call now 8668485699. If you missed any part of today's show not to worry go to financial exchange dot com and click glisan. Then click on demand and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show Doug come. Johnny cash's first song to reach the number one spot on billboard hot country songs chart was I walk the line. Which was released in the year 1956. And the winner on this question was body from its August Dottie takes on one of our financial exchange prize packs with two travel mugs to pens. And financial exchange teacher and our contest today has brought to you. By the buccaneer beach and golf resort in saint Croix US Virgin Islands looking for a great vacation destination called Mary's favorite place the buccaneer. Mentioned his name and you get it 250 dollar resort credit on a new reservation with a stay of five nights or more cultivate a book your trip. 80255. 3881. That's 80255. 3881. We're joined now by Larry Kudlow from CNBC. Are you doing today Larry. Good good very you know it's. So Larry Stephen been mentioned yesterday. Mentioned that they'll be weekly meetings between he and Janet Yellen. Which what is the context of that kind of meeting where would they talk about what would they work on. Well that's very constructive spirit is cut out for decades yet. Treasury Secretary meets with that care. Makeup now it's not bad the economy. It got about the outlook probably for inflation. It mattered interest rates probably comes out. But the Fed chair typically not repeal. Andy interest rate decisions which by the way it ever made anyway. But what I like about apple. Holes action that is interview. I witnessed on NB a is that he said we understand. That the Fed has got to move towards what he's quoted historic interest. You know I'm I'm Claude normalization. So I'm saying what I took away as it don't expect. A confrontation. Between the White House. And that fit don't expect. This sort of calmed down and that's the chops that different campaign. I think it's pretty much now are the table that's what I read into that is allies that. But it's a great job on that point could it also awesome article so no war no war no child beyond war has there's us. And that's that that that's a good thing you you want them to be on the same sheet of singing from the same sheet of music given that. What you get and your base your understanding what's going on with economic growth. What do you anticipate for interest rate hikes from the Federal Reserve you know Janet Yellen you know. Stanley fishing you know Steve minutia and these are the people that are gonna have a lot of influence. Well let that month and now when the treasury Secretary Gates is that care that doesn't mean. They will not disagree. On certain issues. As very important now. It just means that there's not going to be an all out public war. And it also means in this case. That the right out note. If that is going to be raised rates over the course the year that's really what I might agree. So I wanna be more specific on that they are always this agreement that is this years ago with Paul poker and and and Donald Reid and so that's you know that's. I threw that at that now you have to meet for an interest rate forecast. I am I don't think he's I am put you on the spot there I'll put your pedigree to work. Well as an. IPO I feel better about make up for. If I had any idea that that that have court. Because well. Our live until today. Data dependent and I can't begin to say how much I didn't like dated tenth. And another pile and make he has. The fact that more people are working. And the fact that wages are rising. Very slowly. Is no grounds to assume but inflation is going up. More people working did not cause inflation. Inflation caused by excess money creation and a collapsing dollar. I don't see either right now. So what I combative. Defense will probably raise raised. They'll probably do it once prized more this year but they're gonna go very gradually. Vary vary low that's right and absolutely gigantic body rally. I think the ten year break even czar you know very calm around 2%. Which might translate to one and a half percent inflation. And yet but my problem whatever is her and out. Growth is bad yeah working has. Wage increases are bad. You have to give back our wages. It's back. Bats which is now that is called the Oscar. And that has been Clinton credit for around the deck for a decade. But the Fed's been wrong in look at all their predictions of winners last time they got one right. Right don't. I I think I had a opportunity. To raise their target. I say. It's called once or twice more this year but let me say that. If Trout and the Republicans. Got there business tax cuts which I think is the most important. I think she's just let up the business tax that. The overall tax bill and I think the age limit down in reconciliation. This they did that you. And the economy perked up as I believe that well and real interest rates rise. Which would be to is that bad batches to our race car I'm tied with that but I don't want that the the force be higher rates just because more people that work I think that not. 3% GDP growth in the last half of next year is that reasonable to expect. And though less than half of next year will you got boundary line is as good as stake of. First out of this if we get it done the tax cuts are done by August 15. Not that not a lot Google it's. It is the way I read it we have minutes yesterday. I thought he said August he wanted to get it done before recess. He did it it. I do a lot of that. A lot of improvement backhand. Ala get that lower back pain. Finished. I wanna do amenities the he wanted to do that by all that doesn't mean it's. Right now my biggest worry. Is it their struggle over obamacare. And the first reconciliation. Package. At flies said. And that it won't get it it expects it. Until much later in the year artist is very optimistic. I hope he's right but I don't. And frankly I think it could coral. Well it to 28. That's the problem is that the best he wore. It that late. You don't know the market rates and rules you know yeah a lot of people get a little right it got a good response activity. And they're you know the it's gonna hurt him in the polls next year in the mid term yeah. And yet I had to figure that Israel. You know more corporate tax rate spent repatriation. Territorial. That is an art. If they get that's true I think you will really jump in you've got I do. I don't happen that. Larry thank you very much for your time we appreciate it. Larry Kudlow senior contributor to CNBC and chucked the worrying part of that whole conversation was. You know things get them it's as you and I have said look if you get bogged down trying to deal with obamacare. What happens if you pushed everything else in the next year or worse I'm disheartened. On Friday and like being disheartened on Friday Dow's down 52 points my name's very Armstrong talk herself was at the Helm. Trucks out of my cohost. We're broadcasting from our insurer match dot com city. Hi this very Armstrong the advisors at my firm the Armstrong advisor group have over 110 years of combined experience in the financial services industry and whether you're working with another advisor or not want to give you some free advice finding the right advisor is not always so easy I've written a guide to help you through this difficult process it's the top ten questions you should ask your financial advisor is her advisor a fiduciary does he sell financial products what other fees will he charge you these are critical questions that you should have answers to before you make your decision call my office right now at 803934001. And request a copy of this -- the top ten questions you should ask you more financial advisor don't delay get your free guide today by calling 803934001. That's 803934001. Or download it on our website financial exchange showed dot com. There is a protester is American corporate members and that's a PC advisory service is with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated 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 rock bring extra. Mendez 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 the deal you should really pay attention to you can secure a four year loan and fixed rate of three point 99% with. 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Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like our -- Plymouth rock and more of their license for all types of insurance can save you time stressed the money with just one phone call and one relationship. Called today eight for. We're talking about motivation to create in the state plan here's one. Howell Todd can somebody. Insure. That an ex daughter in law or an excellent law. Is not going to take half of my child's inheritance when I die in the event that they got a divorce. You know I don't think I sit down at a client meeting. And this doesn't come. Rate do you bring it up Purdue the client. I think it's a combination of both but but once you mention it if they don't mention that always think about after death while I know and when you mention it. They jump on. One might spell out who is here at lower divorce is so prevalent I guess that's the pro and here's the worry right. You guys you both you leave each of your children half a million dollars right. And then three years after you're gone they get a divorce battle with half a 500000 dollars on a good. And so what we try to do is inside the trust again another family reason to do estate planning a non tax reason to do and they plan. And and we inside the trust we create its shares for the children and we have independent trustee if you will making one decision only. And that is in their sole discretion to make it distribution to the child. Or to the children in that sole discretion provides all the creditor protection that they need from the divorced in the future. 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Why should you do estate planning have you ever heard a nice story about probate its long expensive and it delays when your family will receive their inheritance type folks this is Barry Armstrong each Saturday on the legal exchange Todd let's keep up. A partner with the law from Cushing and Dolan tells us the horror stories of what happens if families don't invest time in a state planning this includes spouses impoverished by a long term nursing home stay unnecessary state taxes paid and folks who have given their home to their child just to have it taken away in an unexpected divorce Todd has put together a brand new guide the top ten reasons to do a state planning get your copy now by calling 8668485699. Or you can download it right now on their website legal exchange showed dot com Cushing and dole can help you protect your assets 8668485699. That's 8668485699. 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This is the financial exchange with the Barry Armstrong and shops are now. You're exclusive look at business and financial news affecting your day you're so leave your world. They informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and chuck zona. Stock markets taking a breather today a lot of red ink on the screen with the exception of gold I'm watching gold rallied. It's up five dollars and eighty cents struck at 1257. And mouse. Yeah a little bit of movement in golden we've seen this continued run up. Over the last six weeks or so then gold is moved from that little 11100 range now up into the mid twelve. You take a look at the market overall Dow was off 35 points now IS and ten year US treasury 2.3 three so interest rates come down at a quarter percent in the last couple months now. That's actually good that he you know in the spring housing market will probably take off this week and got good weather. You know snow on the streets anymore and how big is there's a lot of people out this week in the open for homes they would it's an interesting odd day when you look at it from a trading perspective. Not a ton of overall movement in the market as I mentioned you know were off less than a quarter percent. But there's a rotation that's going on today out of risky in two state sectors the sectors that are up today utilities up point 65%. Consumer staples or point four industrials up point one what's down energy materials financials intact now all down so. There's a little bit of a movie happening kind of behind the scenes you know the market hasn't moved a whole lot. The kind of shifts you know an N and we talked about what you wanna have a diversified portfolio on a daily it is you know this is why you want to be. In something that you're not overly concentrated in one area need to have a little bit of balance there because in the daylight this look if you're all an energy not a fun day for. I kind of story in the paper. And it's you know the headline Ford is Milan meals may never get out of their parents homes. I you know you guys still live in your parents homes I don't know any Mullen meals that live in their parent homes than it is this common is they deemed get a C Europe. You're both older like needles but is it common where you have buddies that are have moved back home for one reason or not. Not at this point in my life you know being eight years out of college now seem many but I can tell you that. You know within the first two or three years absolutely especially with when we came at a college does the job market. Yemen yet to give the worst financial crisis in eighty years. That's it also is delaying marriage among millenniums. Yeah I think it's a combination of all of the above poorly the economies. Is or is it is is have things changed socially where people just. Are now going to get married and have children later in life boat had in the past it's both. And look there's an awful lot of people were never gonna get mayor no and I can telly because they saw what happened where either they're prepared to their friends' parents got divorced they Soledad did to their kids a lot of people just said. I'm not do well you better off not being married then being stuck in a bad there. Ranked than you think that that's right oh yeah it's like EC people that are bad marriages that's ICM. I see him all the time like I see people who like I've gondola weddings in the last like three or four years where look at them like what are you guys doing. But yeah you don't even like wanna have like what are you what are you doing now. Teach their own August quote the mole the the numbers are Malloy. Meals tend to marry later and less frequently than earlier generations. About a third of them have tied the knot this according to the Pew Research Center that compares to 44%. A Generation X. years. And I think it was much higher for my generation for baby boomers. Married 25 to 34 year old continued to set up independent households at roughly the same rates they always have. It's unmarried. Millen meals that have been less keen to leave the nest. They're moving back home. I know I'd like even if I didn't get married. I don't wanna late. Love my parents but no lights and I like I just don't wanna leave with him and they don't want you know in them and I had few or no offense say about it. For about five months after I graduated from college I had delivered was it tough just. The first month of shows find it's like it's just kind of like a vacation. And then all of a sudden it's like. Wait a minute left to do this again and again and again it's just like the human ask you'd make your bed. Ohno should never denial unit that was a losing battle since I was six. You know actually we're in my area my tenure has Corey union back in November and I was just you know doing basic small talk what are you doing what do you after him and I've found that. I would say 6040 were still living at home. Recent death and it because they were trying to get all their student loans paid off you know and they had a job and they were doing pretty well. Let's actually Smart to stay out yeah and I've seen that whole lot Hamachi liquid with your generation. You do is at let me talk about in terms of the dollar amount of the student loans that did. Does somebody say Eli had 80000 dollars yet this is else is it high dollar really yes now. And so they're my fiance is like she's got years and her sister loan debt. Dial up so she's an a for the long haul and it's that she's not alone you know there's there's a lot of people that's a great reason though to live home. 08 get that debt paid off as quickly as possible and you can kind of move on from it. Really young man that workforce and he graduated. From college and use an intern at but he graduate who call from ecology at 40000 dollars or this student loans in good kid. And he moved home. In the idealist and then move home for one year he was paying down his student loans get this I was really impressed he's making 2500. Dollar monthly payments on some pretty much anything that he was making he was paying into those -- he's living on you know you ski he had the he had a car and he you know he commuted into the city but his thing was I wanna pay this off. Before I go again department. I mean it's produced are yet it's pretty responsible Smart but then you get some other millennial Stewart yeah the staying home they're paying those off both. They're gonna take a trip to you know stay up or something like that you have to in the gravel in them right that's one of the benefits. In the but that's dome what you wanna live with your parents are seeking go to France. That's all I've just say I'm sorry I exit have you seen I totally cavities but that's one of the things that. Even sometimes idle moment and that's the kind of thing where it's excellent that I'm trying to save as much money as possible and an issue they've got a new car they're going on trips instead of like. You're not trying to save much money trying to move drop your parents called what it is easy their parents need to buy smaller houses are or move. Yep if that's that the behavior that your parents there's trucks parents figured out wanna visit them by North Carolina their life to another state F. We let a thousand miles away now we've got good work. I I read this report that Donald Trump during the presidential campaign said. He didn't agree with a recreational marijuana you didn't like it but he did say that it's a State's rights issue. Sounds like Jeff Sessions as different perspective good luck Jeff. What do you mean just you know bullets all opposition house so it tries to push through one you always have done an hour and a Ali is to do is enforce existing rule yeah he does have to change a single you can do that they're awful lot of people on both sides of the ideological spectrum. That are going to push back on this incredibly. Part due thanks so yes not that many states are medium duty to do. Don't let it get it's it's not that many states but you or go extinct like cholera. Okay Colorado generally pretty balanced state there's definitely you know giving take between Democrats or Republicans out there. You try to crack down on legalize marijuana go to law. But that's the only state that's the only you know Washington State I mean Washington watch the blue April this point Massachusetts mean. All of that you're going to seat if you're just going to run into wall opposition see you don't they go laughter I just think that's why you fight that. What are you trying to do just Politico what are you trying to do like you this is really the field you wanna die down. Speaking of traveling. Right we're talking earlier about how Mullen who like to travel. Norwegian air is coming to both Bradley airport and TF green airport was really low fares and he saw that she's flat like Scotland for 65 but. I did actually I was I saw this at it was maybe a week ago when they first announced that they gradually come out with some additional details here. But it's it's pretty exciting actually gonna have some these teaser fares. For. You know it's great five dollars each way great these airport I would I would drive to Providence to be allowed by a higher or lower than low. Maybe Bogans gotten better recently. Voters put a lot of money into its terminals they've gotten better. And I I would. I would fly out of here for green from for where I live yeah it's about the same drive is going low in might be ten minutes longer to go to TF green from my house of but. The parking lot less expense for the crowd to TF green ever been there without that now it's it's very manageable if you fly you know busy season late day before Christmas and stuff like that it it gets crowded. But as long as you're avoiding those times it's it's very easy to get in and out. I despise it's. For for people I guess we're what are really comes down to his travel time what would it. Yes it does that even if it's a portion of the problem that Providence or Bradley. Is if you get stuck somewhere and if there's not as many flights going back to Bradley as there are going back to lol yeah. That's that's why I put up with Logan Airport which I don't like love and I would you like about it. The cost of parking is just not yet sanity is I guess I never park their solar and have to deal with that if you live in the city CE NT twenty dollar cab ride it team if you live in the suburbs you know like for you and for the two of us Tucker we're talking and 10050 bucks to get into the air dime inaudible my my father's gone to a Florida next month. And you know he's swinging the pick up right situation because parking just too insane to leave a scar there have been a 35 bucks a day it is yet. I mean that's a lot it is he went on should do is drive park at the red sock drive to a friend's house in Boston and then Hoover and now if you working on her front embossed on the right. You have got me. Now and I got street partners sort of don't carry out it will take carrier it's not a household is always open. NASCAR once a cultural icon hits the skids to gonna talk about NASCAR racing and in this is a sport. That has really declined in terms of attendance and viewership talk about why. We are going to be joined by triple nickel from the Wall Street Journal talking about NASCAR racing next from our insurer match dot com studios. I'm sure it'll work everything business and finance it's the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio. Network. Hi this is very Armstrong I found at the Armstrong advisory group in 2004. And my number one goal has always been to preserve and protect the assets of my -- so why I'm here to give you some free advice finding the right financial advisor is not easy to have written a guide to help you through this difficult process it's the top ten questions you should ask your financial advisor how is he or she compensated how often can you meet with them and what other fees will they charge you fees among others are critical questions you should have answers to before you decide who work with call my office right now at 803934001. And request a copy of this brand new guy at the top ten questions you should ask your financial advisor educating yourself is a very important aspect of this process get your free guide today by calling 803934001. That's 803934001. Or download it right now on our website financial exchange showed dot com. Securities offered securities America incorporated within SIPC into my reserves is with the securities America advisors incorporated burial are represented if Armstrong advisory group the securities and our two companies are unaffiliated. 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 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender an analyst number 449250. 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Your financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets and our friends at the insurer matching agency can prepare a personalized plan to get to the best coverage at the best price call insure a match at 84499. Match 94 for 99 match many of our listeners -- -- and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers like you can qualify for call insurer matched to compare multiple rates and carriers at 84499. Match that's 84499. Match insurer -- works at the leading carriers in the industry like our bell Plymouth rock and more their license for all types of insurance and they can save -- time stress and money with just one phone call and one relationship call today 84499. Match or go online at insure a match dot com. Miss her dearly poll question had financial exchange showed dot com. Vote your conscience. There aren't just vote. Go to financial exchange oh does come in castaway. We're joined now by triple nickel from the Wall Street Journal we're talking about NASCAR racing if you thought. Football or baseball or hockey will have a tough time with the worships. You haven't seen anything to you talked about NASCAR made notre. I'm doing great that terminal just. So what's happened to the popularity statistically speaking of NASCAR during the last 1012 years. We we really solid. They accelerated. After Dale Earnhardt and he doesn't want to peak in 2000 what about eight and a half million viewers and it's on 45%. Since then. Just been a real steady erosion but when you look back ever 1012 year time span had its pretty dramatic. Why it would it would cause I it's hard for me got comprehend this because I was never big. NASCAR fan twenty years ago and that probably won't be in twenty years from now but what's caused the demise of NASCAR because I always and I remember guys are really enthusiastic about it. Yeah you have a couple of different factors coming summer summer cultural and and consequence of the recession and and changing middle class and then some are you know some changes that the sport made that the stringent legacy of Penn medicine you know whether. Creating a new post season. Called the chase for the championship that's what a lot of people give up on the sport or were introduced ten new car that was come. Here and safer and not quite as. Engaging to to the audience. You know proceeding models of cars down. Physicist who has to be causing problems with television networks and the furious. Yeah yeah we don't talk that really kind of have last year Tom he you had. NBC sports which is. Spending about four to forty million dollars a year on NASCAR. And you know or host a meeting with Bryan Cranston and leaves France Kennedy who could crawl intents and purposes that are in the sport. And talk to them about what changes can be made little what do we do to arrest the fall. How does 202 people in the sport like I I think of the NFL and you've got 32 owners the NFL you think of baseball you lots of owners the NHL lots of different owners how to two people own one sport. Well you know it'd really gets credit history of NASCAR has what make it to NASCAR unique in the sports landscape. But. Their grandfather. Bill France brought together kind of a rag tag group of promoters and and hey let's let's come all the symbols for how organ. All the races and NASCAR was one and as a consequence of and and bill press historic. Leading its creation the Francis became the editors of the sport and have been Emerson. Doesn't sound like they've been very good stewards of the franchise. You know it is it Sarah Palin that they. Did a lot to accelerate its growth. But in doing so they date also says some that he's sort of problems that we're seeing today right Brian France was a big champion of the post season has been problematic. Is the big champion. You know pushing sport in the and you market imminently to France Kennedy worked on now with them you know push and pushing new tracks outside of Chicago and out how to campus and leaving tracks in the southeast that had posted posted racist or. Decades. Men and non strange event. You know what I think of NASCAR think of Richard Petty Kyle Petty. Dale Earnhardt Jeff Gordon who's the star of NASCAR today. And I have to it's an open question about it now person facing. Predicament not unlike the wind. That the NBA encounter when Michael Jordan about the sport and that there's just kind of this. This window where a lot of long term drivers like Tony Stewart Jeff Gordon are retiring. And there and maybe the other victim the other stars are aging and well there there isn't a new fleet of drivers who come in and really captivated the interest of fans of and really the national interest to allow them to and attract new fans the way that some of those drivers you talked about how. Did. What's the profile of the NASCAR fan who knew tonight. It you know we have a NASCAR track in. New Hampshire and loud and it. It's it's big and me EC these people coming from all over the country. But with what is the demographic of the NASCAR. It's dangerous to generalize but generally speaking it's an older fan base and and it's. Getting older every day and has largely due largely white and while NASCAR research. By the that they titans are virtually is that the FB average income is on par with the average American income of about 70000 dollars a year on how Kobe because. Iran or Penske during an interview with him put it here today are average fan makes thirty or 40000 dollars a year you know itself. It's not nearly the affluent fan base that we the sitting courtside. NBA games for. You know behind. Have played at yankees stadium at that the different candidate than another sport of. All right well thank you very much we appreciate your time for. Triple nickel from the Wall Street Journal and I remember. Is back in the ninety's. Win the Loudon track became a NASCAR track that was big for that area of New Hampshire though we have it had a tremendous impact on the college or is there and did you get them back in that was what I was in college so went back probably people who seeks is maybe somewhere in that range I don't know how many people it they they would get a gas and hundred dollars it's about. Eight you're an idea but it's it's not a small track there and part of it I think is. They continue to make this sport more complicated in that doesn't help will lead or get some of the things they're trying to do this and this is from. That Wall Street Journal article one of the things they're doing. They're dividing each race in the three stages awarding points in the top driver at the end of each stage who watched that if you finish first you win if you don't. You don't why we have depth. Points in this and like. What are we trying to do here I would think that technologies had a big influence of NASCAR race you know what else. Here's part of the problem is they've also done this you know chase for the cup and everything like that is. For some reason every sport at every sports league in America seems to think that you have to have some kind of crazy play off at the end. You don't the most popular sports league in the world English English premier league for soccer. Doesn't to a playoff. It's just take how things go over the course of the season that's how you finish and that's who gets first place why don't we just do something like that instead of having to go to always use gimme that no one understand. And isn't that how baseball used to be. Based. I think that sort them playoffs and I think based law that it used to be that ale and NL champion would display in the World Series that was it there was no you know conference championship division championship or anything Tucker that's your homework this a look at up go back I think you'll find that he's if you won the regular season. You where you were in the World Series people have less time to watch sports now you have to make them simpler don't add more levels of complication. Simplify you know. They coming up we're gonna have a conversation regarding oil oil oil trading today. Down about 27 cents per barrel at 5418 what's happening with. The recount what you know. And we'll have a trivia question for you next from our insurer match dot com stadiums. You've got a barrier and stronger 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 banker called them 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. And leader bank and leader bank has an exclusive. Program. For those of you who are landlords here Cora collecting rent from 110 and 401 tenant. 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Always home but Georgia today at a team or dot com why should you do estate planning have you ever heard a nice story about probate its long expensive and it delays when your family will receive their inheritance hi folks this is very Armstrong each Saturday on the legal exchange Todd let's eat a a partner with the law firm Cushing and Dolan tells us the horror stories of what happens if and we don't invest time in the state planting this include spouses impoverished by a long term nursing home stay unnecessary state taxes paid and folks who have given their home to their child just to have it taken away in an unexpected divorce Todd has put together a brand new guide the top ten reasons to do estate planning get your copy now by calling 8668485699. Or you can download it right now on their website legal exchange showed dot com Cushing and dole can help you protect your assets 8668485699. That's 8668485699. Securities are pretty securities America incorporated member and SIPC and advisory services are for for securities America advisors incorporated -- are represented Armstrong advisory group cushioning Dolan and the securities America companies are an affiliate of your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends -- the insurer managing agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for -- insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance can save you time stress the money is just one phone call and one relationship. Call today 84499. Match or go online and ensure a match dot com. The latest financial twins game we'll place it's the financial exchange we've Barry Armstrong and chuck saga on the financial exchange radio network. Trivia is brought to you by the buccaneer beach and golf resort in saint Croix US Virgin Islands looking for great vacation destination. Paul my favorite place the buccaneer mentioned by name and get a 250 dollar resort credit on. Any new reservation on a state of five nights or more. Call 80255381. That's 80255. 3881. We do interview today based on Johnny Cash what was Johnny cash's nickname our text number 68681. Listener with correct answer wins. A prize pack. It includes two travel mugs and T shirt and two pins what was Johnny cash's nickname. And again our text number is 68680. Tucker did you do your homework on that baseball question. Yeah I did it looks like you whose side dating prior to 1960 I believe for an LP just had represented from the American League take on a National League represented and they were just playing the world's help. Pretty simple right well and what people liked about that was it made the regular season. Much more important every green. Lose lose you were hanging on every pitch and every game now you are well we don't win and we you know we might mean there's a wildcard. By the winner division yeah there's a second while the death of the worse the second wildcard silly it what happens is I think it's been diluted I think that's what NASCAR is going through. People lose I mean there there are more complicated in the baseball. Well you get six points if you look at this and if you go around this city literally two point Modano and opposition needs a track. No did you win who crossed the line. Ricky Bobby said it best not burst your last exits all matters in race if you're not first who cares shake and bake what's the point. Oil prices step back with the US rig count data ahead yet and I'll tell you what US rig count. In the last year has gone from over 500 rigs operating up over 750 then okay. We're going to be getting some more recount data coming out later today. In Canada they've gotten to wonder rates up to 330 once there are over 50%. But isn't there are a big difference like. You did have a rig that pumping very little. And then you never rig that's just reduction. You can but it's still the capital expenditure. Coming out it's still is a sign that you're seeing companies starting to spend more again. And that's the big thing internationally. Still not seeing that kind of growth internationally are actually down a 112 rigs Euro per year right now. But in Canada in the US you're starting to see on these rigs go back in. And the thing that means is that you have to have more points they're hiring up again that's good now at the same wages obviously bought. They are starting to hire up again and that obviously helps a lot of the areas that were hit pretty hard win all of these cuts came in 20141516. A good. Hey if I do you guys seen this movie the Amazon movie Manchester by the seat I have not seen yet I'm waiting to see if Amazon actually releases it on Amazon prime video I heard it was the most depressing movie known to man or does not seen yet errors depressing as well but it was good yeah I've I've heard it's unbelievable but then it got nominated Gregory S and Jerker as predator and a best actor Casey Affleck but that's that's never happened before. For Amazon Waller or Netflix were. To beef or Mary Lou to be fair Amazon didn't produce this or they didn't a great day they bought the rights to. Poll consists of little misleading but fell. But they it is it is supposed to be a phenomenal movie cliche elegantly they bought that data in the town and Ellison saw. They bought for almost nothing I think yeah I was like six to ten million as the ball parlor for them what an awfully sluggish or Mosley is just a phenomenal movie but I've heard the most depressing thing you Iverson I heard Casey Affleck who's really good yes there Casey outlook fan. He is the greater of the two Catholics in my opinion cruelly there's only two. Yeah in the benefit great I believe so yeah acting business had too many flops like I like his good stuff but he just flops too often don't forget spends a good director though. Israel Iraq is good director there's no doubt the both very talented as is Ben I think sometimes the projects depicts. 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Turn it over. Well it sets in pretty difficult Preston's I'll tell you if if Amazon is forced to turn this over I would never buy an elects one. Because I don't want my private conversation murder somebody know but I don't want my private conversations potentially being part of public record just because there's an election in my house rules that would be you know why would why would I want it do what want that to be able to be subpoenaed for anything in the future. You know do I want to I want the government being able to also Alexa. What you're saying is elects is listening to our conversations whether we want the time or not. It only activates when it hears Alexa do this and that's the only time it actually goes into doing something a laser on about a murder somebody who you better listen it but it is that actually listening so I just don't want. This if if that ends up being fully discoverable. I don't want anything to do with that because let's that your level on the future that you don't agree with forever let's let's say that the you know that the attorney general does start cracking down on recreational marijuana. If I've got people in my house that are smoking recreational marijuana do Y want to have election there while they're doing that know why don't you know lake. Those the kinds of things that I think of so. If if this turns out to be fully discoverable and in you know available to be like because your first it and so forth. I would never buy wanna be your first impulse would be let's have a look at it but I wanna listen to the think about your solving a murder rate. Using private conversely I know that I know if they don't sell no I I I get where people come from on this this this is why this technology when you talk about you know. The use of technology and its place in our lives these the conversation that you need to have because. Yes it's great that can help you out and so forth. What what level of privacy do you give up to do so when that something you know that that we're starting to see more and more at this point the common issue. Sam Adams in the news there are also known as the Boston Beer company the symbol for their stock is SA am. And you know I looked out and looked at their quarter. And I did think it was that bad but the headline reads Boston Beer tumbles on disappointing outlook CEO calls out soft landing craft sector. Yeah they got a little weaker than expected and I think that the big thing to actually see a lot though they've they they're still they're sales or revenues up they beat on revenue I think it's just the guidance that people kind of got beat by. Is Sam Adams is guiding and look Sam Adams the biggest US beer maker it's. No panic. The issue that they're running into. Is the craft beer bubbles something that has been. He's upon brewing. For the last several years now it's taking off and leave a you don't debts off it like it's done or it did you might even be over saturated at this point. I think give Vermont New Hampshire and means being kind of the hub San Diego. India San Diego San Dallas morning and he was the most memories per city in and have no water. Yeah I do now do that noted that big attraction to New Hampshire Vermont was the access to for a walk. But it stay cheap for San Diego was ground zero for the the microbrewery explosion they have I think it's like a 125 different breweries within city limits it's it's something ridiculous like that. The problem that. Boston Beer companies run into is because they're so big they were the first to yeah there are no longer nobody looks at them as being a micro for exactly. Don't animal like a bonds on open house now having said that there is always going to be some kind of Renaissance I'm sure that. You're probably familiar with Pabst Blue Ribbon DVR of course. Crappy beer ever made depth but hipster Islam because no one else likes she'll eventually Boston Beer can become so one all of the pictures are gonna like it and start buying it again. At them but I'm telling you this happens it's what goes on in Brooklyn these people were weird. They when we come back Brit talk about whether you should be investing in private prisons now to bite him and you know be the dumbest thing. That and more web the answer to a trivia as well from our insurer match dot com Steve. Follow the markets from start to finish and get our daily market recap every day at 5 PM on our new website financial exchange showed John come on this as the financial exchange or radio network. Why should you do estate planning have you ever heard a nice story about probate its long expensive and it delays when your family will receive their inheritance hi folks this is very Armstrong each Saturday on the legal exchange Todd -- be a partner with the law -- Cushing and Nolan tells us the horror stories of what happens if families don't invest time in a state planning this includes spouses impoverished by a long term nursing home stay unnecessary state taxes paid and folks who have given their home to their child just to have it taken away in an unexpected divorce Todd has put together a brand new guide the top ten reasons to do estate planning get your copy now by calling 8668485699. Or you can download it right now on their website legal exchange showed dot com Cushing and Dolan can help you protect your assets 8668485699. That's 8668485699. Securities offered to securities America incorporated member of an SIPC and advisory services are for for securities America by incorporated Barry arms are represented if Armstrong advisory group cushioning Dolan and the securities America companies are unaffiliated. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home -- one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match -- 8449. -- nine match insure a match works with the leading carriers in the industry like your bella Plymouth rock and more their license for all types of insurance continued time -- the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match 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. Or visit leader bank dot com. Member FDIC equal housing lender and MLS 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 leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Workers at leader bank dot com. Member of the NC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead. Hi this is very Armstrong I found at the Armstrong advisory group in 2004. And my number one goal has always been to preserve and protect the assets of my client so I'm here to give you some free advice finding the right financial advisor is not easy to have written a guide to help you through this difficult process it's the top ten questions you should ask your financial advisor how is he -- she compensated how often can you meet with them and what other fees will they charge you fees among others are critical questions that you should have answers to before you decide who work with call my office right now at 803934001. And request a copy of this brand new guys the top ten questions you should ask your financial advisor educating yourself is a very important aspect of this process get your free guide today by calling 803934001. That's 803934001. Or download it right now on our website financial exchange showed dot com. Three suffered securities America incorporated members in SIPC and by reserves is with the securities America advisors incorporated Barry Bonds are represented if Armstrong advisory group the securities America companies are unaffiliated. Securities offered to securities America each member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong. Excel and George daily team for a comprehensive look at business and financial news on the financial exchange radio network. All right the answer perk for being questioned news that a man in black. That Johnny Cash that is right. And the winner on that one was Michael from north Providence Michael takes on a financial exchange prize pack featuring two travel mugs to pens. And teacher and our trivia contest is brought to you. By the buccaneer beach and golf resort in saint Croix US Virgin Islands looking for a great vacation destination. Call Barry's favorite place the buccaneer. Mention his name and you get a 250. Dollar resort credit on a new reservation with the state of five nights or more. Called the data book your trip 802553881. That's 80255388. One attorney general Jeff Sessions on Thursday revoked in an owner Obama administration directive to gradually reduce the number of contract. With for profit prison operators saying it would interfere with meeting the demands of the prison population. So how do we make money on this trip. I'd prefer people don't. Private prisons aren't exactly my favorite industry I like them to a private prisons are effectively like those of the for profit universities have been the a private prisons there is a notable. The couple years ago where one of the things that they would pitch to investors that they were looking for him with a high rate of recidivism in their presence. Meaning that yeah you get out and an eagle right speculate how much supposed to view that is upon us what they also. Liked it when your state got extended so it was a theory that. The root. Try to influence parole boards and things like that well even worse day you know who have prisoners charged with the additional crimes while in prison yeah so it's I'm not a huge fan of private prisons but. These companies appear to have gotten another lease on life here you know they've rallied today after the death and because of the expectation woods. That they would be like if they don't house any prisoners they fieldhouse about 30000 it's relatively small on a federal basis if you look at at a state level they're definitely more jokes inmates that are in the federal prison system border that on or state level particular down in the southeast. Heavy use of private prisons I can tell you its seeds in many instances chucked the private prisons in incarcerate. A prisoner for half the cost. Yep but for twice at times so it's like what are we doing here. All right Mary is the statins a pain for the extra time now at any rate it's the way you like it or not right there is there a way to make getting out is two private what do those companies' names are course civic is one of them in the Geo Group is the other one. Hewlett-Packard they just continued to disappoint. Meg Whitman is the CEO fuel Packard. If your member makes he founded I think he did entry. Not I don't know she was the founder I know she was in early on Anna she was the CEO she was he yelling at her she made all I can't remember if she was in on the ground war with email looked at output. HP enterprise remember couple years ago HP's split in half today took there. Legacy business of printers and computers and so forth in the split that off from the enterprise business in the enterprise business was supposed to be the stronger arm. Overall and this was not so much it was to a consulting services for companies and things like that a lot of the that paperwork the stock it rallied since that split. But. Downey percent here on you know a steep revenue drop they lowered their guidance for the year and you know I just wondered in Meg Whitman came outages. You know very upfront about it look at probably ask for a do too much in this first quarter and overloaded my employees a little bit I think it you know I need to take a little bit more. Of a step back and make sure that we're doing things the right way so you know I've always liked Meg Whitman and that she's very accountable to what goes on she. Tends to be very proactive but a tough quarter for the mere and they got some work to do in order try to turn turn the company stock down 8% today. Yeah and the big employer in New England yen and and Meg Whitman was not a founder of eBay but she was the 31 employee at even. G that's and that's Hersey made her reputation and you were did you run for governor she did run for governor and I'll ask you was it eBay from march of 98. Through November of 2007. She was there through ten years. Impressive growth via the nose at the operation. You don't law. What if you today if he tried to go via golf course that's good as good. Aussie dent I just tried a very good regulated better than Poland. Consider the lines top of the line that's giving up all of your life and you know it's like this is a big one. I I I like them it's like 120. You know like and example they're really bright. Chipotle McDonald's. Chipotle. It's actually fresh fruit. But McDonald's just you know there were McDonald's is good if I'm driving. Probably face to drive to hockey rink but where are you wanna play myself into a cold. And it's very McDonald's is better if you do get one of those super shop sized strawberry shake that would cost for like three hours rate the nurse that all the legal but it just dramatic. Large Fries race supersize Fries now in your driving back from Middlebury Vermont after hockey game I your fatter. I got a it's a flawless. I get a lot of talent is always talking about prize I got a little press thing that lets you make homemade waffle Fries now. And so combine that with my deep Fryer and you're going to see a bigger shock the about six months from now closed their share Q builder shares after the knee to be doing too well though you know it even though I like them. They'd be missed. Yet keep in mind this is they're owned by Jack in the Box. And they did this year unfortunately. And when you look at where they guys they got a little bit lower they're going to be selling some of their franchise restaurants. In different markets as well. But you know obviously they're faced a little bit of competition there that the restaurant space that fast casual space is a crowded space where. It is so there's so many companies that went into that space between you look at it you don't vote you look at. Five guys to know fish Arab Sheikh Shaq now in and out burger I mean you can go down the list. There's a laundry list of companies in that space and is there might be thinning of the herd in the next five. Years yeah I wonder how many how much room their use unity thing. Went when I was younger. You know who's the that's when Friday started in Applebee's and all those restaurants and others are started the you don't have big moments and positive ground ground. Oh yeah I have to go to ground around all the time they did an editing here and now they're gone they they went out of business I think maybe like 67 years ago there that's what happens that that's the nature of that industry. Hey that market is open it's down not a lot the Dow is down sixty points at 20750. Crude was trading at 5403. Per barrel. Have a great weekend everybody chuck exotic and very Armstrong signing off. From our insurer match dot com student.