Mar 16, 2017|
Full Show 3-16-17 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with Barry Armstrong and showed saga. You're exclusive look at business and financial news affecting your day your city your world. And stay informed and up today about economic and market trends plus get breaking business news and Green Day. And now the financial exchange with the Barry Armstrong and chunks. Quite miraculously. The stock market managed to rally yesterday in spite of the fact that Janet Yellen in the Federal Reserve raised interest rates by one quarter of 1%. Isn't the indicated. That they would raise interest rates probably couple more times. During the balance of 27 teams some speculation that there might even be three more rate hikes coming. Hi everybody very Armstrong and John Moody with you here on me thirsty Thursday or higher Thursday whatever you wanna call can be tired I get there to offer work this week because of the weather. John a lot of a lot of news that came out of that that report yesterday but we also continue to get economic data this morning wouldn't. We learn well this morning we learn housing starts up 3% to one point 228 million units a pretty good and number. Bad number though permits down 6%. Not a good number. What do you attribute that to. You know I think a mixed picture and housing. A lot of people aren't getting aren't able to get permanent because the vote zoning regulations there's there's a lot of mixed. Numbers coming up housing but for the most part you know the housing starts. At one point 228 million is is a good number so we'll take it that but some numbers are a little bit softer that permits number points to some softening as well. Jobless claims I mean yeah same old story down 2000. To 241000. Pretty much nonexistent number. You know given the size of our economy Philly Fed 32 point eight expecting thirty that's. That's a good number and we get a blowout number 43 point three last month so a decline there but still a decline to a very good number and bury our favorite number the jolts. Job openings and labor turnover survey. Which at this is a retrospective number this is January cracked. Believe it is January correction does go back and it's you know so it's not you know a real time number but you know it's giving us the same. Message very that's been giving us for months that is that the in this case there's five point 53 million job openings right now. That's up about a quarter of a million since the last report. In again you know how many new unfilled jobs does or economy need to create we have the real problem here. With getting people trained for the jobs that exist. Well it's either that or to wages rate the the you know his way to win when we talked to. When you Philly you interviewed yesterday he was in the whole restoration does some great correct it he said well you know I just. You know I can't find enough people truck drivers you hear it or go to the story overdo it or not truck drivers but he talked at the truck drivers they'll say. Well look I I went back to school to become a welter because I can make warm I can make forty bucks an hour welding and trucking only pay me twenty bucks. You know so I think a lot of it has to do with supplying demanded wage rate if you want more truck drivers will pay him forty bucks an hour in the behalf of the draft. This is true that the joint survey though curiously very shows job openings really across this is the spectrum. Of you know low income too high income from blue collar to white collar. It's really hard for employers. To find qualified employees at almost every level. This gets us back to the conversation of the that you mentioned the top of the newscast or the newscast. The broadcast that. But I want to address and that is you know the market rallying on the great increase. We have a 100% certainty of an increase there was actually no doubt I was gonna happen so. I didn't it's not surprising to me that the market did not sell off on news that was widely expected and I believe markets reacted to this in the days. Preceding this report. But there was some indications I think of softness in in there in the terminology that we got from Janet Yellen. And I think part of that was related to employment she was saying we can expect some softening in these numbers it's something I've been talking about I'm surprised. These job numbers are positive as they are I was expecting us to move to about the 100000. Monthly area. Because of the fact the work at a full employment situation right now. Well that's. And also consistent with what the Atlanta fed is telling us you look at what the Atlanta fed. The Atlanta Federal Reserve. Considered one of the more accurate predictors of GDP growth. And they're suggesting that. First quarter GDP growth is only gonna be used to be actually less than 1% last report they because they should be periodically. Last when it looked at John they are saying while might be point eight or one point two excuse me. Now they're saying it's going to be point eight war. Q1 what does that do it in I think we have to talk about this would what does this. How does this impact the Federal Reserve in terms of future rate hikes because there's about a 70% likelihood right now among economists. That the Fed will raised again. In June. Yeah I think the answer your question is there's zero impact on the reason for that is get back to what Janet Yellen said yesterday and I I applauded her for this comment. She's the GDP is a very noisy number that this very week of the most consistent growth granted sub par. But the most consistent growth in the history of the United States in terms of GDP it's been 2%. Every year. As far as we can go back plus or minus zero point 3% the public GDP news. He is such a it's the most important number one hand but sequential GDP is the noisiest number out there it's so fluctuated in impacted. By things like inventory. We don't right now companies are sitting on very large supplies of inventory. That's the biggest factor driving down first quarter and also the fact that we mention before there's this factor of a lot of money that normally would be tax refunds that are being delayed and being kicked in the second quarter so get good point you know we can get all depressed every time we get these zero point eight numbers and we can just throw a party every time we get a 3.2 percent number. I believe it's all noise it's 2% we're. Story well given that. If you if you're that opinion. How many more interest rate hikes do you think will occur in 2017 and by the way folks that is our poll question today go to our website financial exchange show. Dot com you can play economist along with us. So far John just to put this in perspective the rest of our audience thinks. 7%. Think he'll be one more rate hike 76%. Saying they'll lead to more rate hikes. And 15% of our listeners saying there will be three more rate hikes beat. Poignant here. We have Smart listeners because you know what I think we did a survey of economists if he pretty close to that I think the fact the matter which we've been on course for three. At the number but commentary we go from Janet Yellen really points in the direction. Of three unless something earth shattering happens you know maybe we get for now. But the bigger picture again buried kind of move beyond the sequential quarterly issue would he handicapping you know what's gonna happen next week. Then I took from Janet Yellen was. We're on track for 3%. Fed Funds rate as the new normal and what's gonna take us through 2019. To get there. Whether it's three or four this year three or four next year's three or for the year after that. That's the end game if everything. Status as expected so which she suggesting is one and a half by the end of this year and won one in quarter one and a half by the end of the year. In at a couple more next year and couple or the year after the one thing that could cause her to go up. Three more times in 2017 in my opinion is just my thought. Is if they got health care and all the tax reform work done. By August as promised right the cop president and congress is that we're gonna get this done Steve minutia and he says we're gonna get this done by Alex if they got at all done. By August and I don't think they will bid if they did. That I think now you might be looking at three more rate hikes during the course the but I mean you're camp by and I'm saying I are actually already voted on our poll. I voted for two more rate hikes. Chuck. Really that's pretty dire I'm I. I think it would take something very negative because that we talked about what should the what should the Fed Funds rate the typically it's about 1% above. The inflation rate because he got a reward people who beyond the cost of inflation in other words if you if you pay him less the cost inflation. You try to attract their money at a negative cost and that no that would be about two point 7% right now. We're probably gonna get there and it ended things if it may be not just the matter three or four may be a matter of we need to get 75 basis points very however we get that may we do 51 meeting in 125. I think that's what we're headed. What's with this point 7521%. Range to say you know like. The that's another thing that I don't like about the Fed needs to either it's either point 75 hurts one don't don't give us this if you don't like he's in a range of in just it's 1% in a world tour if it's point 75% say it's point 75%. But they've they play these games if and they also don't like the fact illegal border point in time but that's just my opinion I don't think Janet root gallon really cares. Whether I'd dislike her style. Anyway coming up next we're gonna be joined by Jessica lots from the National Association of Realtors. They have done the NAR has done a survey of young people. And found that they're not that keen on buying a house that I find it highly unusual. It was worth talked to or about why Mullen Eagles. Are not just diving in to the real estate market that's our next topic from our insurer match dot com studios. You've got Kerry and chuck. H street. On the financial exchange radio network. Hi this is Barry Armstrong and if you're a regular listener to my show you know that I talked a lot about investment strategy and financial planning my goal is to help you maintain and grow your existing assets and part of my philosophy includes informing you of changes within the investment community that you might not be aware. The Fed has raised the federal funds rate twice in the last two years many observers see increases coming this year investing in a rising interest rate environment can present challenges so call now for my free guide to help you navigate how rising interest rates could affect your portfolio 803934001. That's 803934001. Pass for your free guide about investing in a rising interest rate environment called now 803934001. Or downloaded from our website financial exchange showed dot com. Securities offered to securities America incorporated members in SIPC and advisory service is offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group 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 a match agency can prepare personalized plan that gets you the best coverage of 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 -- so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 84499. Match let's 8449. B nine match insure a match works with the leading carriers in the industry Laker bella Plymouth rock and more. Their relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com everybody Barry Armstrong here for. The financial exchange jumped joined by. Leader bank. And leader bank has an exclusive. Program for those of you who are swindlers your Cora collecting rent from one attendant or under 110. Zero it might be something that you want to look into Jake talk to us about your how long has been around. We've been offerings he ran for almost two years now two years and has that been successful spent extremely successful we've. Offered this product to really target hardly in the hours were still collecting checks in paper form in this day and age. And the purpose of zero needs to really bring everything on the line between electronic but more importantly. 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And it's a great product are lame or perhaps the league club while they are right it's called see rent and do the website for it is www. C you rent dot net. Or you can call leader bank an 8776917900. To learn more 8776917900. Collect your rent electronically makes an awful lot of sense to me the phone number again 8776917900. Or visit. Zero rent dot net. Security suffered two securities America ink member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Today on the markets all day long. And our brand new website financial exchange showed does come could be on the man includes didn't follow the markets from pillar to post Olympic financial exchange showed dot com. We're joined by Jessica logs from the National Association of Realtors or are we talking about a recent surveys conducted hi Jessica are you. You. So when you conduct these surveys. Are they telephone surveys or days email surveys. At least a I'm curious as to how we gold though. Getting the information for the surveys he conducted. Eric Eric actually elephant survey that and make as alpha and am land mines but a lot of people don't have land line at a market and we Eric day at Alec 900 people every month but we've bundled would be at that or get out. Early. So how much does the they do the surveys very. Based on geographic region. And we are seeing some variation and that I am recently we actually eat meat compliment them. In the middle class and rural areas actually really increase. A financial optimist them and and that I just thinking I now advocate kind of I all as a lot. That you. Overall didn't you learn that there's really not that much desire on the part of young people to buy places they're still content ranting. It's so great we are seeing is that I rate now. Non owner but those who are right in her living with Ayman Al. Are saying I have more than half of them are saying now advocate and to buy a home. But that optimism has been waiting and speak you eat right it's their right ankle fractures and those who live with and without. Yeah and they're thinking perhaps that may become a little out of reach an app. How it was. Is that what it is is its affordability. Jessica not eight and not just I don't wanna buy a place I want physics I talked to cy young people and they say. Well you know I I'd like living in New England. But I'm thinking about moving to California so that's why don't wanna buy a place is it they wanna maintain their mobility or is it the or or is it just they did they can't force. Bill it is to make them all week you you that the number one degrees and that honors eloquent today is because that's what it felt it at the number one reason I also like I honestly there's and they do you think that they played it. Purchase the future if there are men in there it financial situation and is it important to note though. That when we act and do you want on on the McEachern that nine and 10-Q and eat incredible to eat that homeownership is academic entry. Those eighteen that all it might not eat they eat but it is absolutely as a market their life. And that light cycle that you and I. Paranoia when I wonder how big a factor is the fact that a lot of people can't come up with that down payment you know 506070000. Dollar down payment for an entry level house. That's a lot of money. It is a lot of money. I'm I have to say that one of the things that he has serving on. Is looking on human aspect and there are a lot of slowdown in the program out there but it seems to be an awareness of the program is not so high we actually found that 87 earth and Peter homeowner or not commoner today. Think they you need more than 10% down the urge all. But that's not actually that he you can actually perky but on the I think he's let down in a program that are available. Through the government and other lenders or just read for IL. There are programs out there L what they think that people thought that up unfortunately. Jessica despite the rally in home prices and Condo prices and and and house prices. I looked at data in new England and again I'd I focused my studies on New England. And it still seems like. Buying a house is less expensive than renting especially if you take into consideration the tax consequences but even just out of pure cash flow basis. I looked edit. You with a number on a number of different occasions and if it's cheaper to buying than it is to rent so why the hesitation. Absolutely I am in many areas that app will be is cheaper and I am an especially knowing that if you used a thirty year fixed mortgage. Your market is that it every month and it doesn't matter I'll let that happen L. And presumably your income local apple realized I that the I don't know below or Eamon and that such as being at the whim of a landmark. I am I eat out at hesitation could be eating right down payment and not doing without even expectation. But we unit that in mind that at another hurdle and make it difficult that they if I am one of the really interesting I need to be honest here. Is bad one then I irked at home buyers in the Victor practically out of their parents' homes into an ownership position. That there overcoming that hurdle being able to it breakdown imminent. I'm without having if you read anything that's really interesting and you'd eat city's economic impact. A big desk when there's a big debate right now is will these generation. But this generation staying home with mom and earning more and more money when they move out to buy a house. Are they get a leap over that entry level house into the next level because that's the big debate the home building community. Search the we have not actually and breach and here it went first and umpires go to or just a almost. They're expecting it either a ten year. Though you can weak side in years past that bullet topic we got home I ever if you're later. There they are it is not back and actually protesting it slightly larger home and they had a half. At bats at actor actor in the app ran something that played into you and Mardy and they I'd meet and how it's no longer there. Got a Jessica thank you very much for your time we appreciate. Thank you just the lots of National Association of Realtors and John I'll share our story with you me we had a young Fella that in turned forests and few years ago he graduated college. And got a job in the city. And he moved home after living in in on on campus in Indian call while in college. And he had accumulated I think about 30000 dollars of student loan you. And he said you know wanted to move on because even talk to me about it said there is my plan and move home and and pay off my student loan debt and then I'm going to accumulate cash. For the purpose of buying a place. And he's actually executing that plan right now he's just about finished paying off the student loans. And then his plan is to accumulate cash and then go out by a condominium he does one house is just buy a Condo. That that makes sense that it does. And this is it was a thing is important in Lennar in the major homebuilders like saying. You may be it's not maybe these people were buying their first home at age 2930. Agreed to be acting differently than those who bought a 242526. Some of the political move as is Josh just said right into what piles of others because of the debt are gonna have to get that entry level house later. It's not your not your grandparents housing market it's a very different phenomenon. It is and it's tough to move back in with your parents after you lived on in the dormitory here and Europe apartment before yours it's not what we can't. Not like we make it easier to bear with you that. It's it's not on pried apart no it just leave it. I happened no this young man's father rather well. Ethnic epithets he confessed he says you know it's it is it's nice when they called home when your kids come home from college. It's really enjoyable for about the first I don't know 48 at 72 hours right if it's fun you had dinner every place that cat she go golfing great. After the 72 hours of collapsed and you know you know the they've reverted to dormitory life's not. And then that's when it's. Time for them to go we we we welcome we welcome visits let's put it that way that have a terminal point. Yes it grandchildren are always welcome all off around the clock right now. 24 sevenths that it John and I have had an opportunity. To tickle looked at the winners and losers in Donald Trump's America. First but now some of you are it'll all this but others are gonna say AG and so crazy about this. But we're gonna break it down for you want you through the winners and the losers I've by the way in the big thing but I've spent. A significant about time on this budget and a lot. But we'll talk about the budget and more. From our insurer match dot com studious on a date with the that was eking out a slight gain three points. Making your Smartphone even smarter. Don't go mobile lab by surging financial exchange joke in iTunes or those who played stores. This is the financial extreme radio network. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today we're zero and leader banks all mine rent collection tool. He went automatically deducts tenant's rent and deposited into your account visit WWW dug see rent dot net to learn more would you rank your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot -- to learn more or call 7816418691. Hi this is Barry Armstrong and if you're a regular listener to my show you know that I talked a lot about investment strategy and financial planning my goal is to help you maintain and grow your existing assets and part of my philosophy includes informing you of changes within the investment community that you might not be aware. The Fed has raised the federal funds rate twice in the last two years many observers see more increases coming this year investing in a rising interest rate environment can present challenges so call now for my free guide to help you navigate how rising interest rates could affect your portfolio 803934001. That's 803934001. Ask for your free guide about investing in a rising interest rate environment called now the 803934001. Or downloaded from our website financial exchange showed dot com. Three suffered a securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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Stay on top of breaking financial news by becoming a member of the club Perry's brigade mug on the financial exchange does come in sign up today. Trivia is brought to you by. The avionics and Tokyo that the onyx is revolutionizing. The dental industry. You recent double blind study at UC Irvine found them with the onyx removes plaque. Two and half times better. And a leading toothpaste for treating gingivitis forty years today by visiting best dental jail dot com. Yesterday afternoon in the Federal Reserve announced its decision to raise the target federal funds rate by 25 basis points. To commemorate the occasion will be asking trivia questions about the Federal Reserve. Which state and John you're not allowed to play along with us. Which state is home to two Federal Reserve district banks is only one in the country. Our text number is 68680. First listener with the correct answer that question will win a prize package includes two and a T shirt and to travel coffee mugs. Which state is home to two. Federal Reserve district banks and again the text him here in the studio 608680. Let's walk through. The winners and losers from the first Donald Trump but. Got a winner's list is pretty short. It's defense. Defense getting a 10% increase which sounds like not a lot of that Homeland Security right. Which she Homeland Security what did defense big picture yet with him irrelevant includes Homeland Security well. That would be the big the big winner and it also includes four billion dollars for a construction of of a border wall. And so these are the co winners but the 10% for defenses like sixty something billion dollar increase. So that is now a very very large chunk of the discretionary budget I think what this. What this budget blueprint children's Barry is there's not a whole lot of extra money that cut in a budget like this where. We've been looking at discretionary so closely in recent years and pretty much ignoring entitlements. Unfortunately too right decisions but the only way to really into the budget deficit that is at all concerned. Is to address entitlements in this budget largely does not address that. Just go after Medicare talk among Medicare Medicaid and Social Security correct the it is in in defense of Donald Trump I would say that making week he'd actually did address some issues of this separately in the health care bill because. For all the criticism given the health care bill it actually doesn't draw us Medicaid and looks at cutting Medicaid. Pretty substantially so. That's kind of an off the budget item here but it's you know actually addressing an issue that's very important to be looking. I mean I look at the EPA down 31%. Like that corps of engineers down 16%. SBA down five NASA down weenie generals and and I know enough talk about a lot of money and Social Security Administration actually up point two. If he added a solo bury it really comes down to where can you cut elsewhere to get that big increase in defense spending. So it's a budget that is. You know there's not break the budget it's a responsible budget but it prioritize the spending. Largely in favor of defense. At the expense of others particularly in this case you know EPA is obviously a big loser agriculture down 20%. This on cabinet departments there's some big cuts there. I think that the much in terms of actual dollars but you know agriculture's given 20% cut labor when he percent cut. Energy Department down seventeen point 9% so there's a lot of little cuts and a big cut the EPA. To try to you know afford the big increase in defense spending. John let's talk about vote. Savings accounts in money market accounts and CDs because yesterday at about 230 in the afternoon I posted something on my FaceBook page and I said well you know. The issue raised rates as we anticipated but I also forewarned. My followers I said. You know you're you're not gonna see. Much in the way of our rate hike on your CDs in your money market account. I think we owe it to our audience to explain why because I I got Jim Toledo asking me about a day and a lot of people saying hey. This does not seem fair that the banks are raked in more money why are they given some of that money to the sabres well. Here's the thing it's not like the banks making more money on it because of regulations after the last financial crisis. A lot of money market you were getting paid 456%. That he had mostly government securities which obviously super ultra safe if you're United States investigated it's pretty much risk free. But they mixed in with a lot of lower quality corporate paper. Which gives a beacon 567 sometimes listen junk bonds it by any co investment grade issues is corporate paper companies like Microsoft. And General Motors and yeah I mean big corporate it. Yeah now there were some. Money markets that that that kind of pushed the envelope what you write not the majority of them. So what that what was done after the financial crisis is. Politicians and on behalf of the government we are not going to effectively. Ensure. That private crop it. Because do you think we we all put money in money markets knowing OK yet technically it's not guaranteed. But no one's ever lost depending and it and it's like an implicit guarantee without saying it it's treated that way. In the government's perspective was OK you know. We can't do you would is guaranteed to quote unquote. But if we're gonna do that and give that implicit guarantee. We're gonna limit you to only guaranteed quality securities. And Barney Frank and Chris Dodd leading chart of the bill is named after them but it was this is a Democrat. Agenda item after the banking crisis and yup we're gonna blame anything it's that one large money market that defaulted. That has cost a lot of problems like three you know I I think you've you're really onto something here Berry was an excellent point you made. There's a happy medium here where the government could maybe be a little bit more lenient in allowing companies to invest. In something other than 100%. Guaranteed investments. You know early in this this cycle repeats itself you know cold like us. We remember where certain era talking about the the banking crisis of the late eighties and early nineties talkers scratching his head insane. While I was in diapers at that time. You know for for and then you know but it doesn't seem if you go back. 200 years there's a financial crisis about every 2030 years is it really is and that you know you're you're point is really well taken because. This isn't something I do but you know I'm sticking. The reason we haven't complained Barry is because. When we should be getting zero point 3% worldly getting zero point one like who cares right so for the last seven years or eight years. Who cares about this weather invested in government securities or whatever it is like one of them when you're. Where this is really gonna hit area I think you totally underscored this point. Is when we get with 3% Fed Funds rate in people are getting 1% on the money market in bigoted angry. Well big VPR but the you know what none of the banks are competing it's it's not like you've got some. Day it's coming out its analog V 3% and money market they've got so much cash. If you look at the cash balances of banks FDIC insured banks Europe's 69% from where they were a decade ago. They're they're swimming yet cash and they index not gonna give us a darn thing it is not. A at least I don't think if this article that there's so much interest in cash and cash is not paying anything but you're right caches we're we're Washington national levels polian. The pushing and dole quick announcement on their behalf. They are making guide available during the month of march only. It's called the differences between ripple Kubel and irrevocable trusts it is there when he seventeen. Addition they do this every year only once a year by the way. In the publish it they posted on website called legal exchange showed dot com if you wanna download it right now if you wanna call and received the phone number is. 866848. 5699. The guides available free of charge. From. Cushing and Dolan the phone number 8668485699. The web site legal exchange showed dot com. Again most of via the pros want to talk to human beings he just called all free at 866845699. You know we we we talk about. Savings rates and what you're earning on money market accounts and CDs. And I know you're upset about this site I might get it and I understand and indeed been upset about it for eight years you've seen target gone period I just wanna go to the bank and by 5% CD. One lecture you a bit to do that during your lifetime. Maybe you'll mainly via live. Long long long long long moment. And B of the by 5% CD but I don't think you're going to be at the do it anytime soon. That and we're going to be joined in the next segment by Philip van Doren from market watch John's gonna talk to him. About investments. That are pretty good places to park your money why well because they pay a dividend of substantial dividend. Grab a pencil and paper because stock talk is next from our insurer match dot com studios. You radio that can enrich your life and help your portfolio. Well it's a financial exchange with Barry Armstrong and shut sun out 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 manager agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's -- 4499. Match many of our listeners don't know home and 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 late you can qualify for call insure a match to compare multiple rates and 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 and continued time stress the money we've just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. A state an asset protection planning can be overwhelming where do you start and how do you know what type of trust is right for you hi this is very Armstrong and I'd like to talk to you about the law firm of Cushing handle and they'd been creating a state plans for folks in New England for more than thirty years and they can help you -- with all the different types of -- available I can understand the confusion when it comes to a state planning do you need a -- global trust do you need an irrevocable trust and what's the difference you need some expert advice and -- and dollars put together a free guide that will help you decide the best plan for you and your family you can receive this free guide the differences between revoke global and irrevocable trust by calling 8668485699. They can even show you how it's possible to eliminate your state taxes while at the same time protecting your assets from creditors and long term care expenses caller right now and get this free -- 8668485699. That's 8668485699. Or download it right now from their website legal exchange show dot com. Very our chart here and I'm joined by estate planning attorney Todd what's with the law firm of Cushing and Dolan were talking about the differences between revoke Kabul and irrevocable trusts. Todd if you already established a reachable global Lori living trust can you simply go back to the attorney that drafted it and a mended. In an effort to have it be common durable quibble or Medicaid trust. Yet the answer is the yes you can go back and get an irrevocable trust but no you cannot go back and a man and the old trust. So I think that Barry what you require him. It requires the crafting of a new document absolutely in fact. I'm gonna tell you right now if you do go back two year old lawyer to get it changed and here she says Aaliyah. We can we can you know. A man this existing trust that you have walked out that because it's a recipe for disaster. He's irrevocable trusts are not simply going to take the word revoke oval and make it irrevocable and somehow that fixes it it's the language that needs to be in the document soup to nuts. The guts of the trust that really provides the protection you're looking for. From the cost of long term care and and I might add that just because you've done a revote global trust in the past. That's not a black thing. But you might have done in fifteen years ago it might be time to say you know what I'm older tax laws have changed their sales has changed circumstances changed. Maybe I should go back just to check. And say maybe it's time to switch to the irrevocable trust. To better satisfied my current needs if you don't have long term care insurance it might be a really good time to learn about the differences between revoke global trusts and irrevocable trusts. The phone number to call is 8668485699. Call Cushing and Dolan. And request this brand new guide that describes all of the differences between revolt global verses your Ruble Coble trust the poll number. 86684856998668485699. If you missed any part of today's show not to worry good financial exchange showed dot com and click listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen but who had financial exchange show Doug come. There are twelve. Federal Reserve district banks but only one state as to banks Missouri is home to the Fed bank. In both Saint Louis and Kansas City. And Justin from Lynn field nailed it we'll get to travel mugs to pen to the financial exchange T shirt. Our trivia contest brought to you by Libby on accidental Joseph Libby onyx is revolutionizing the dental industry. Recent double blind studies UC Irvine found. The avionics removes plaque to a half times better than a leading to pay for treating gingivitis order yours today by visiting best dental gel dot com. That's best dental gel. Dot com. Our stock talk segment right now and Phillip van Dorn of MarketWatch joins us. And Philip were looking for some way to make a little bit of income. And you've identified some some ways one is master limited partnerships MLPs. Yes good morning born in we just put up an article. Discussing for different closed and mutual funds which only invest in domestic energy partnership's. Specifically. Date focused on. Companies that are handling the transportation storage. And processing. Of oil. And natural gas and also refined oil products so they're not. They're shying away from the oil exploration business. Because that's even more risky in the pot what does. That and and also president Donald Trump has been pushing the pipeline business. I would think that increased energy output. Would be a positive for the sector. It sure is because that's what it's that's what it's all had gone now this is why the energy partnership's. So their prices dropping much faster than the price of oil drop. When that began late in the summer of 2014. So. These investors are always looking ahead because. The money that is made by the limited partnership depends on the volume. A material passing through the pipe on an incident storage facilities they have long term contracts. Those are not based on the prices of commodities they're transporting. But the volume has to either so what US production was cut. Their volume was cut their earnings went down so you had huge drops in the stock Dietrich. They've recovered quite a bit but it seems they have much more room to run with all that being said these are income pickles if if you needing com you can consider these that you have to be able to ride out fluctuations. Is guaranteed. That you will experience large. Price fluctuations. Over the long but in return for that you're getting a pretty large payout I wanna preface this thing I do own AM LP. Myself. Because I'm an expert at picking you know one from the other. But they MLP pays a little over 7% right now and its diversified is that one example of a way to play this no doubt be my guess. I very much believe in these examples the we have four closed two MO coupons featured in. This article they all have fields of upward of 8% but yes the diversity is there and also with these funds you have an advantage which is. A simpler tax situation. Then you'll have if you owned the limited partnership units directly. Yeah I think if you own a I think it's it's a pretty small amount like 151000 dollars. There's a there's a bond if you don't like more than that you have to file these very complicated K one tax forms. Which the pain. The good news is something like AM LP ascension he pays the tax for you before it's distributed so. You know you look at a big fat feet but it's that that includes the tax liability in my in my right amount. It could be a little bit more complicated by the then that but essentially yes support what you're getting with. With a closed and MLP funds is technically. The distribution of capital right so you're getting that beautifully guilt. Which you do not pay any taxes until you sell. Your shares and that could be many years down the line. Great point. What do sort of the right actions income one is a meeting at MLPs are an obvious one in the biggest. You know they've been under a cloud here's you don't take the risk of maybe massively overpaying. As you want with a lot of other proxies for the bond market like for example dividend paying stocks. That's pretty well played out but like reits and it would be a controversial area we get a pretty good deal to write. Yes and some people will say don't buy every now because interest rates are rising. That again don't by reaching out looking for income and could not very patient some reads the ones that are. Buying commercial properties. Holding them improving them possibly selling them for profits or even better raising their rent. Go up in value over time even when interest rates are right. So no your read well researcher she if you like their business strategy that they considerate. And again assuming you commit for many years another overlooked sector is business development companies. These are drug companies that make. Corporate loans commercial ones. And they're they've. Grown in areas that large commercial banks have been shying away from because of the newer. Leveraged lending rules contained in the Dodd-Frank bank reform legislation 2010. So these these can be risky here. Income plays. Like you get very high yield returns giving upping its up and talk over which are investment advisor or broker. Yeah you in the article made reference to closed end funds to end. Again. When you're looking at an individual sector particular investment. Is there opportunity when you see stuff selling it like a big discount to its net asset value that's the one thing I think it's attractive to closed end funds some touching actually get a deal on the that's that your buying right. Yes and you can get those two figures very easily and see if there's they're trading at a discount but but they can trade a discount to the value of their assets. For very long periods of time true another another vantage like about the closed end funds is. The fund managers are not looking to sell more shares. They don't have new money coming in all the time which means they are not forced. To win best new money when they don't want to YouTube you have play you might have a better active management style which closed and so. But I would say if there's if there's a moral of the story here is that there are definitely 5% plus yields out there. But you're gonna have to deal with near term fluctuation right amid a days ago as Barry said again that 5% 6% CD. Guarantee you know with your payment principle on a certain date. And it's almost like old news right now. Pitched it's still lists and and he is likely to be so for years to come so. There has been the right mind frame income is the key you know the assets were locked fluctuate in value. Don't look at their market values effort and if you look at the if you look at the energy partnership's. You can see that they've had this up and down not elation over and over again three years and years. And they always compact. It's important went out the investments you've mentioned actually include ownership of assets underneath that over time will increase to some extent with inflation so inflation protection is actually pretty good thing. Sure all right. We'll take you very much Philip then horn from market watch some fantastic ideas on. Alternative ways to get income in an income starved world appreciate that against who have been born from MarketWatch. You know our stocks that we have a lot more still become Donna what a day just interrupt yeah one thing. If you where wrong. About interest rates that that they were all wet weather predictions and right now on our website if you go to financial exchange showed up about 78%. Think there's going to be only two more hikes. Right what we could be wrong if there could be four more hikes in 2017. It could be four more in 2018. And four more in 2019. Wanna point out investments like the ones were just talking about in a rising interest rate environment will hear hear that looked down in value them without it value really. Fast if John Mayer wrong as it relates to what we think it could happen interest rates John Moody sitting in for trucks ought to today my name's Derek strong were broadcasting. From our insurer match dot com studios. Hi this is very Armstrong did you know that the federal funds rate set by the Federal Reserve influences all other common interest rates the federal funds rate is the rate that banks use to charge one another to borrow money and while it's one of the lowest rates in existence it is rising observers expect additional rate increases in 2017 the Armstrong advisory group has written a free guide to inform you of the challenges that exist while investing in rising interest rate environment if you have questions about how these rising interest rates might affect your financial strategy call 803934001. To get this free guy or download it at our website financial exchange showed dot com if you have over 400000 dollars in invest able assets you can set up an appointment for a free consultation with one of our advisors who can help you navigate this new rising interest rate environment that's 803934001803934001. Three suffered the securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated I am very Armstrong from the. 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Talking about interest rates we are of the opinion that interest rates are going to rise two or three times during calendar year 27 team the big question is chuck why is the Federal Reserve increasing the federal funds rate now yet the big reason why the Fed bumps up that federal funds rate. Is because they feel that the economy is on pretty stable footing and they simply want to make sure that inflation. Doesn't get out of control if there's too much money floating around in the economy so what they do is they raise that federal funds rate and it has two effects one it makes borrowing a little bit more expensive. It also raises the amount the people were able to get on things like CDs and savings accounts helping them to keep money in the bank instead of spending so would we talked about how housing. Is hot in prices are rising in young people millennial they're getting priced out of the housing market people can't afford to buy a house house because prices are rising too fast with the Fed take that into consideration when they're looking at raising interest rates they would housing does factor and all their inflation metrics that they look at and so is definitely something that factors in. And what you see there is that as rates and uprising mortgage rates go up to makes a little bit more challenging to buy a home. OK so rising mortgage rates would actually depress housing prices good to know. Hey folks if you'd like to get a guide called how to invest in a rising interest rate environment call my office it's 800. 3934001. That's 80393400. What we are of the opinion. That interest rates are going to rise two or three times during calendar year when he seventeen. If you'd like to receive a copy of our guide call couple free 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Some folks are willing to accept the glass is half full but when it comes to skiing and riding. Well enjoy free Springsteen U Waterville Valley resort we've become a new pass holder and get your 2017. An eighteenth season pass today with great event suspect tell. Tacky the conditions you won't want to miss out this spring I've got a full glass tough having it all right here and I'm drinking. 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Or visit leader banks dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- This is the financial exchange with the very Armstrong and showed saga. You're exclusive look at business and financial news affecting your game you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and chuck son. You're about to see Donald Trump's. Negotiating skills put to the test he's in a real pickle he's got one branch of the Republican Party. Saying just repeal obamacare and go back to where we were before obamacare. And then he's got another branch within the Republican Party saying that you're not doing enough. All people who on Boeing comes in when I say all the talk about fifty to 64 hi everybody it's very Armstrong and John Moody with you here. On what I think is a very controversial Thursday the president has his hands full and within his own party. He's been with a lot of dissension John here's the probe. And bury there's there's opposition to this plan for bull left in the right it's already scored terribly by the CBO. And the weight trump needs to make this work is to make it score. Ultra terribly to get to get support. You give example to things he needs to do which were both blow the cost of it. The one thing is he has to increase the tax credit for lower incomes that is on the table and his lower income hold let's just be clear though lower income and all right and correct all unfortunately now for me folks old and thank goodness you're here. John's like the best co host every one of the few people in New England that is all did and that's why I'm here I served that purpose yes you make me feel it. But that is the fact. And EVE it's it's not dead for for Tucker it's a pretty good deal. If you're 35 you're forty you're 45. It's a good deal once you hit 850. This deal that Paul Ryan put together it's a really bad. Yeah we ran the numbers yesterday it was 64 year old looking and pretty much all the income in the making 500 bucks a week. But the problem here very muted tone we sympathize with what we're gonna have to do. One is you you're gonna have to provide more support for lower incomes and elderly or older people or especially lower income older people so that's gonna require more money. The other thing is. They're looking at eliminating the surcharge for consumers who let policies lapse. I notice this is the way you know on one hand they said were getting rid of that obamacare mandate that everybody has the by insurers so you don't think it. They said well if you'll let it lapse in other words not buy insurance then at some point decide you want to do you got to pay a 30% premium to do that well that's just a back door way of saying there is a mandate you do have to buy. So the gonna get rid of that because everybody read through that one was which was obliged but guess what. The cost more money too because what happened is insures that more younger healthy snow we're two people who weren't going to be. Costing the system much they're not gonna play so. Both things are gonna happen here a ball gonna blow the cost this thing eat them war. But here's the problem so you've got a contingent within the Republican Party screaming bloody murder about this and and we've had. Listeners email me. And text into the show complain they don't like that. Part of the Republican plan that we just talked about. But then there's a conservative element of the Republican Party they don't like the fact that there's any tax credits whatsoever. The day they're saying hey we have no business being in the health insurance business in defect conservative element. Does not stick to their guns duke primary by Tea Party candidate in the lose their child. This is a really difficult situation politically bury him in the what's going on here it's an attempt by increasing the tax credits to appeal to the centrist and that left. And by again getting rid of the surcharge. For the consumers what policies expire. That's an appeal to the white to say. You know what we're gonna make this more of one you know. We're not going to get really the penalty the problem is the numbers are just not an end up and it's going to be a very very substantial. Cost of the government so. There's going to be a deal there's no question about that but it's an expensive one. Well hence my statement we're gonna put Donald Trump's negotiating powers young skills to work and he needs. He's got his cancel it and not to mention ain't that Democrats are. There's talk about the Republicans he just wants get this thing does watching his rally last night and he said. I wanna we invite everybody in the room and let's talk of these it was as clear indication these would compromise in this is I've seen so far. Alexia on we covered this story yesterday Alexi on his company headquartered in New Haven, Connecticut. And we announced yesterday that they're cutting 7% of their workforce. The probably now is the whole law and government money state government money. To have certain hiring parameters as it ESPN. And they're not living up to there and the obligation. And as a consequence. Governor Malloy. I'd say it rightfully so taken a lot of heat on this issue. Yet if you're you're talking a the first five program. You know intended to encourage companies to come to Connecticut and to to retain and add jobs. There have been calls for eliminating that program because as you said we already had the that nationally. Indicated Kate pace of ESPN. Which received very similar assistance. Soon after the program they also announced implore you lay up so on one hand these companies are taking money. As an incentive on the other hand them having goals employees that's kind of counterproductive to the intent that this particular program. The if I'm Alexio what I am trying to explain to governor Malloy is well. It's a business and sometimes things go wrong sometimes the drug we thought we had in the pipeline that was going to be terrific doesn't work out. If I don't think he did this on a maliciously. He would Malia intent is just the way the business yeah we're in a dynamic economy. Economic change overnight in the given example did not want to jump on ESP ambit of the from the perspective we've been toughened them. The economics that this is it changed radically they're losing three million subscribers a year so when they went in the took advantage of this program. The economics were a lot better if we are today so. There's nothing you can do to legislate successful companies unfortunately. In a pig's ear was fields wasn't the exact in the journal thing about pigs here okay. He urged fire. How would you feel about having an. A pig's kidney repeat. Pigs liver. To help keep you alive are you saying from the perspective of human repaid. The human. If if if if that's what this company's all about if the its Genesis Beers in New England based company. And what they're talking about doing is transplanting. Pigs. Organs into humans yet I'm fine with it at one point I just want my wife always listening if it keeps me alive. Editors speaking on behalf of your organs of this is that they're they're looking you're modifying pig organs and it one day be transplanted. Into humans to actually cure diseases now. It's formally launching actually today with a 38 million dollar initial funding round. Promote an investment consortium that would configure various the company is operated in stealth mode in Kendall Square for the last couple years. They've just got a skeletal crew of eight researchers skilled in general that it. And out organ transplantation so a fascinating that thing that the has been done very quietly. But there are people investing millions of dilution see real potential this possibly be something that can be cured of the comes to disease. It because there is such a shortage of organ donors. Yes and there's a shortage of getting those you know what is it you get an war and you get liver. That comes available in California. And but it's needed in two hours in New York City. It. You know so a lot of its logistics. Now that this would take the logistics I don't think growth markets. Have a lot of pigs signed up for organ donations week we are working on their licenses to indicate angle right now. Yeah it's it's educational and hope when they get their license they they checked the you about the best thing about the story about mcdonalds. They're finally getting into the twenty. I like it if CEOs get this Brit named east yet and he's done a heck of a job since he took over Agassi three years ago. Now. Tucker will be relieved to hear McDonald's goal and getting into the act does not appetizer. But they're gonna have a multiple application. That allows us to order our McDonald's with and we want strawberry milk shake Fries and a pick whatever issue one. The article in the story and we lines disorder on your full walk in and pick up. The problem is that they're watching it right now on a trial basis in California and Washington the pilot program. They want to roll the solved later in the year but it's really important to get like is what Starbucks did this. We found out a whole bunch of people ordering. In creating massive lines so. They wanna make sure that you know supply and demand can be that'll work so well that you get in the shop of California Washington hopefully it'll work out. And it should be available by year correct by by labor the year that won a world without nationally. Ask you this story about the US women's hockey team I realize probably got paid. Thousand bucks a month the bureau and now we're talking about would be rated there on the US women's hockey team. And it it comes back to you'll pay scale issues he had this story with that women's soccer is well. The net that women's hockey team and national women's hockey team. Feels that they're being underpaid especially when you compared them to their male counterparts. And to that end with they have done is they've said we're going straight we are not in play in the world cup of hockey. Which starts in two weeks in Michigan. The goalmouth straight yeah yeah I was thinking about Phil Kessel sister who placed them and thinking about how much you know her Brothers making you know for him for point the Pittsburgh Penguins look they're not looking for Patrick came money but. A thousand dollars a month. Seasonally it if you don't really get the six months. So it's pretty low today I I think the women deserve a little more money than I think people who come round and supporting. Do you think he'll get paid as a means to you literally they're not playing two weeks it in and you much more organized than the soccer players. Because what they've done is they've gotten. Eating women. To agree the knock in a place that he can't bust the union. And they've even got the young kids the underage teens to say. Look you'll play eat meat that they are women in this instance. Have created a very strong on very strong union. I'll be curious to see we're gonna come back to this story actually end up playing in the term. I think didn't get a lot of support because it it's it's very unfair and I know was only 45 competitive. Women's hockey teams in the world and it's not the most competitive game in it's not the most popular game from the viewership perspective but it just it seems inherently unfair. Okay up next we have a segment dedicated to John Mooney Jessica Smith for business insider will talk to support a virtual reality John. It has a virtual reality hits you let me try loft of the last time you have to let them use the tuba. Oh really. Well we will talk about that why isn't John using virtual reality hits it. It's here you can buy them they're not terribly expensive. And just missed that we'll talk to us about the future of you are and are augmented real. All of that and more 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 chokes on the on the financial exchange radio network. Hi this is very Armstrong 47%. 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It's not too late to get a great rate on hold mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's 84499. 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 call insure a match to compare multiple rates and carriers at 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. There relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today paid for four and 99 match or go online and ensure a match dive come. It's our daily poll question had financial exchange showed Doug John. Vote your conscience there are just vote go to financial exchange showed dot com and tell us that way. I don't know if you've tried virtual reality headset cord. I haven't thought it was terrific we're joined now by Jessica Smith from business insider to talk about her virtual reality report I'd just hurry. Her credit. Good so how many of these headsets are being sold via the starting to gain traction if people buy anything. Yes definitely. Knew the putt that. That it meant that the route to poke a million and I. Admire what. Packing it in a. It would youth making like five years out how many will lose what he's been much more common fight your show about 20/20 122. Definitely felt he didn't actually act and elegantly and we look a lot. And what that see it I millions shipping and when he when he bill. Well played a what really act in the art market it and what kind of late eating crowd all went to Iraq what do you. What does it cost him which of people spending on this. Did that in big bear apparently. Horry got on an able Kirk or reality got Angela Park or reality. And then he thought oh god he enabled one. It Smartphone had that are they let it happen. Pretty. B. Angela. What about 500 and you feel nice quality that. A hot on the ballot. One. Easy on it on the Internet that you bat means 800 mile an hour. Could knock I hero on the live my cohost tin can chime in on this too is that there's nothing to watch they eat solid and I'm trying to. Think if I could watch a Boston Bruins hockey game or even a College Hockey game or an NFL game with a VR headset I'd be all and I'd I'd pay a thousand bucks for. But right now the what do in this is just what I'm hearing is it's not the not a lot to do other than video games. Yeah well my act not. But gain. A lot of you at all. Oh look at it pop or the we've also seen the NBA not had a lot that theme even dark you're at how we are back. And you know that there's a lot of that day but right now a lot yet UA in but at. At certain people and equipment you you come back it could make it appear eager buyer. You know what would you feel I all the time now. They recently it might appeal. It. Or secretly I think you know what we opting in cart. You an. Unions say NFL will life be able to watch an NFL game this coming season with a PR hits that. I'm potentially a right now. There at. But might opt. And there are a lot and I hate when a how eleven. Technically an augmented reality that but in. Reality one. That you will be able yet and an account in the paper over reality but probably not over here. Just the question I ever I I came running in here a year ago and said to Barry Armstrong hey Barry tried this thing on and you know that the when I got with my galaxy S seven we're watching. You know flying through the Alps and say this is really cool. But do what it. The problem is that makes it kind of dizzy. And it's just I can't you wouldn't use it much more can say like ten minutes as as the core improved. I don't believe probably it. On Howard Dioner. Quite. Happy. There. It knocked that. Up a lot of good and now it. And and you're not on my. Our. That your accompanied there. I've. Got wrecked it hurt in all killing off at. But but my money is an. Jessica how do we make money on this how to how to like our best around virtual reality because I think there were on to something if you're gonna be able to go. In follow an NBA game or hockey team or football game apiece we would every sport is I think that's the application that's gonna make the most sense. How do you invest and I know that's what you do behind. Yes but yet be probably marking the market got to be a game that sells well year. And I would going day won't beat me an indicator we're looking at where your money they really get a look at. What will be portability. I have a pretty I copy and one that actually belly do you know I know. Unique market and the market order and more and more than under our virtual reality that your hand. You want me what I. Me and say it apparent that meant Albert evil in our planning ER age you know. I don't know that apple cart and what it going to be an acre site where a lot leave it hurt point which is odd that a U. I'm going to be what really helped ERA track and we opted ER fact that he got a lot out there Oakland and all that you know that late away. They hand out ER eight and that and they people they while I used. Can't be you know finding that your again and experience and are put out. Berry get there and Jessica I use we sure appreciate your time thank you for joining us. What a little Jessica Smith business insider. Virtual reality and I. Just personal observation the sports application for me it's news. It would be fat. Yeah I mean we saw you could somehow in reaching an experience it is but I mean you know right now. You know flying to the Swiss Alps and going through an art the story in in London is nice but contents the key and I agree sports would be amazing and a don't use the they're driving a lot of cash towards and that makes me believe that it's going to happen you. He when we come back we'll have a trivia question for you. In addition to that or talk about Tesla Tesla is raising money but they could do with up. Dollars will let you know when we return for our insurer match dot com. You've got a barrier and strong financial exchange. It sure looked financial exchange radio network. Whether you're celebrating a milestone toward diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense give leader banker Coleman learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back. A step ahead hi everybody very Armstrong here from the financial exchange them joined by. And leader bank has an exclusive. Program for those of you who are landlords your Cora collecting rent from 110 and are under one tent. Zero it might be something you want to look into. Jake talked to us about your how long has been around we've been offerings he ran for almost two years now two years and his have been successful spent extremely successful we've. Offered this product to really target hardly in the hours were still collecting checks in paper form in this day and age. And the purpose of zero needs to really bring everything on line between electronic but more importantly. How did he said it and forget it so what's a landlord has their tents set up. 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That's 86684856990. Or download it right now from their website legal exchange show dot com. 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 Colin -- 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 zero you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered who also dig out 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 meet for 499. Match insure a match works with the leading carriers in the industry like your bella Plymouth rock and more. There relations for all types of insurance can save you time stress the money we've just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. All the latest financial pru and speed moon place it's the financial exchange we Barry Armstrong and chuck not a on the financial exchange radio network. Trivia is brought Q filed with the onyx dental gel that the onyx is revolutionizing. The dental industry. He recent. Double blind study at UC Irvine found that the avionics removes plaque two and a half times better. Than a leading toothpaste for treating gingivitis order yours today by visiting. Best dental jail dot com. Who was the longest serving chair of the Federal Reserve now RX number is 68680. First listener with the correct answer to that very difficult question will win two pans a T shirt and to travel months. Who was the longest serving share. Of the Federal Reserve getting yelled of course is the current chair of the Federal Reserve. If you know the answer to that text your answer to 68681. Listener of the correct answer wins the prize. Tesla raises additional funds for model three debut coming later this year. About one billion dollars they raised to a fifty million in new stock. 750 million and convertible notes yet Tesla a perennial money loser but a great product. And obviously a promising future in terms of demand for the particular product. The issue here is they're jacking up production tremendously and they have a lot of debt to start with. This is a matter of them needing cash. Because never really good product they tend to ramp up from the 84000 units they did last year to about 500000. By the end of next year they just. Need cash to pay for the production. Well and in you know how much longer can they continue to burn I mean how much they're gonna cost them to sell these 40000 dollar cars 6070. Like I. That that's the big question I mean they are selling 84000 cars last year and I think each car they've lost about fifty grand each car. You know like I just deeply and that's the I got you know its interest in China. But I keep became bearish on tests after reading a Goldman Sachs report where Goldman Sachs earlier this year said stock's gonna decline by 20% to do you know who under writes this offering a billion dollars for Tesla Goldman Sachs. Yeah exactly yet. They're run ball than this so many of these deals you know it is going back the financial crisis where they were long and shortened. That's it should Kelly be as far as trust what goes that the answer your question is very I think. As long as they're on the forefront of being the leader in that sect sector. As long as there's a waiting list for the vehicles. As long as they're continue to be loved by the people who use it. They're gonna continue to have a story the problem's going to be with the big boys you know the General Motors get a product that competes competitively with them. It has financial resources. Will test was still have that star and they still be able to attract money I think that's going to be a very difficult situation for the well we'll see I mean I drive by Chevy Volt you know. I just love my Clark. And I got a 101000 dollar tax credit and by the way I'm using data my taxes this year I've wondered about a year ago good for you. Hey one I mentioned. And an invite you to watch. I would like to invite it'll launch com. WR TO our flagship station in Boston is buying. It will be on Thursday march 30 at seasons 52 grill in Chestnut Hill it's the place for what is good now. We're to do broadcast of our show from this restaurant Chestnut Hill Massachusetts. And then we'll have lunch with you and then you know we'll share some ideas with you. As it relates to how to invest any rising interest rate environment yes you are invited. And yes there is such a thing as a free lunch it occurs on Thursday. March 30 at seasons 52 grill in Chestnut Hill. If you would like to make a reservation I'll give you a phone number to call 803934001. That's 800. 3934001. Witness it Thursday march 30 two weeks from today tees. Seasons 52 in Chestnut Hill this free parking ample free parking available. If you'd like to join us call now very limited in terms of seeding. The phone number 803934001. All right let's talked about go for. John evidently they're cutting another 270 jobs if that's the bad news the air cutting. In 270 more jobs but the company did offer positive guidance. As they doable very broad restructuring the national co wrote various. Anxiousness to follow up tussle with with with this because there's themselves similarities. It's a fantastic product people love it. The problem is it's getting a lot of competition from Smartphones. Companies like apple and Samsung. With their standalone cameras which are excellent people love just pulling off the Smartphone take this picture. I go pro has that really strong pace of people who are adventure seekers movie going out skiing or hiking. In fact my son has a go pro and uses that when he does adventures. And not a vacation of the aisle as he had a he's had a four few months and he's he's used for things like we went to Disney World the he got the show who rides he went on. He went like you know torn from New York City to kind of given a EG interesting unique perspective but you know it's like it's a certain niche it's not something you wanna carry around and use all the time. So I think what's that would go pro is the stock got over loved over bought it was way too expensive. And I just think that people were a little bit too exuberant about the possibilities so. It's down scaled up in it is now you know it's probably really good eight dollar stock. Those really horrible stock several 100% higher limits. What do they have. They determined any methods. Of generating. Recurring revenue. In other words your son bought one for months ago yeah he paid 300 dollars for every day. It has paid any warm knows their monthly fee to use it here. You're buying additional products from them like you would say with Apple's war it. Who lives via the pellet. Was the school cup we talked about it no its followers I understand it's just a super duper camera I mean it it takes a very unique perspective. It really is pretty amazing but what he said how do you monetize that once you know OK I got a really cool picture. And to Mormon again another really cool picture them I don't see where this recurring revenue there. And also the price of these things plummeted used to 300 box that he currently ninety. OK he went by I got one NC Father's Day present five years ago and I use that periodically. Let there's no reason to buy another one. The one I bought five year got five years ago still works you know that there's a side story on this and that and nick Woodman as the CEO and you seem on shark taking the guys I was given dirty looks the Mark Cuban that. It's fascinating kind of what's that you two guys go back and forth. Wouldn't want really crazy with the money you made and IPO you know blow by numerous yachts and homes and it's initially case because the stock has really plummeted his net worth as we've been reduced by about 80%. So I actually he sold if you look at nick volume sold the water that stock could pull it up on the break out here look at how much of that. Stocky sold at the high he was selling and that's what. Made me. Moves like the company he was selling it at seventy dollars and to see him do that then go on a wild spending spree and be a shareholder holding the bag that's painful. That's that's why I follow insider trading interest in I'm not talking about the illegal yeah talking about which you know we insider buy and sell their old stock. And I don't care whether you're talking about Jeff bays of certain equipment. When an insider's sells a lot of their own stock and that makes me bearish on the company can say that's where they spend all day. And for him to do that men go on a wild personal spending spree with all the multiple yachts and mansions. That's really rubbing in the face of the people that. Up next we'll have the answer to our trivia question in will be joined by Christopher Lockwood from The Economist Magazine going to be talking about. Bases in Iraq. Sounds like we've got him on the run we'll get an update from Christopher Lockwood next from our insurer match dot com's. 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 does come up this is the financial exchange or radio network. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage at the best price -- -- 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 free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for Collins sure -- to compare multiple rates and carriers and 844 and 99 match let's 8449. -- 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 and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. 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Security suffered two securities America any member of finreg SIPC advisory services arbiters securities America advisors think Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong. Chuck son George Daley team for a comprehensive look at business and financial news on the financial exchange radio network. This segment of the financials. Changes brought to you by liter 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 87769178900. Or log on to. Leader bank dot com for more information. William McChesney Martin. Was the ninth and longest serving chair of the Federal Reserve serving from. April 2 1951. Till January 31 of 1970. And he served under five different president strong. And he just beat out Alan Greenspan to longevity in the pursuit mail that is Tom from Spencer. To get to travel mugs to pans and a financial exchange T shirt. Our trivia contest brought Cuba Libya on accidental Joseph Libby onyx is revolutionizing the that'll industry. Recent double blind studies UC Irvine found the beyond which removes plaque two and a half times better than the leading to pay for treating gingivitis. Order yours today about visiting best judge dental gel dot com that's best dental jelled dot com. Christopher Lockwood from the economist economist magazine joins us now on the financial exchange Christopher thanks for coming on. Yeah. I read your article what it was posted. Three days ago regarding Iraqi forces having pretty good success in Mosul over place's. Yeah back to read it. I have very very uninteresting development and making their lack of progress. With day how long is nice this had control Mosul. Well there's still consumers so I'm taking really the whole world and particularly the Iraqi Government by surprise in Q 2040. And in the process that pick up by controlling about of the country of Iraq as well as extensive holdings in and that Syria. And tragedy they've been. Beaten back and had a few. Gay straight back protests that that Vista they were there was absolutely rolled back competitive by ramadi Fallujah breakfast packed but the law. Big place that they still hold as those the second cities in Europe and and the still left at least impostors. And and if we can get them out of Mosul and eliminate them what does that do their operation. Well. I think it will still be out and making good progress so bad that talks is to let it sold them the recruitment at the it is up to you by the tigers of west of Mosul until two guys that they're good success that but either but there are eliminated from those of a befell have made significant holding left in. Iraq it would of course still. I existence Syria where at that they have the capital. That's circle count about it. That quote rock sense that there will be gone by but at the same time. And let it operate them all on Rutgers. I had trouble successfully and various allied forces closing in on yes while they that. Goldman I think it will development the next people to create the problem will be that despite physical says it will. Go underground Islamic state poses little. Continue to to cause trouble they will be something a bit more like coyotes to be a terrorist. That set off bombs it. It is not Baghdad or indeed in him and Europe student that isn't able to hold territory. How much economic damage has been done in Iraq because of places. But it's been gigantic. They did not to control of that second. Which is pretty terrible thing to happen to any country evidence that the country was. There's a lot of direct control. And it's been very expensive. Including about the Iraqi Army to be rebuilt to have a go to very. Generous help from allies and in particular from. America and six cents percent. But that there's no doubt been a major drain. I hit oil production as well as doubtful whether it was. Says so little that has been that terrible episode and ongoing problems of terrorism in Iraq. Toppled many people's investment that. Christopher this is again it really game of cat miles so that's involved here. To what extent do we know do we know if if crisis has maybe moved it's operations already in anticipation of this to other areas and created more of a splinter type operation. Well what's clear is that even before this big also Mosul the gap with the goes back in December. That quite civil so I have like that is good news out of there's indeed out since there are cool to get them across the border back into Syria wouldn't argue that they originally came at the movement begat them answer and then. Political and Iraq across susceptible to that through hard to control. They get quite the look of the fight this possibly. Even including the leader of that we've let them go back study. Have that left Mosul and and some of them the few small holdings have as little as though that committed quote. Bet quite publicly w.s and an Iraq political political competitor aka. They now can't really do that the structure itself as the so that is becoming harder hard to put themselves to be there out of that this is completely surrounded now that rent them. It up that pulpit to fight to the death. Would be when you you look at the efforts being made by the Iraqi forces. How much assistance are they in fact receiving from British and American forces or is it all American. I won't be getting quite a lot but it has come really just in the pool that. Comb back treat side in operations and there's no doubt this question a suspect is look at all of the my pocket that it makes me but it opened beat dumping it that open I suspect it picked up by American troops were to happen very heavy at. Supports well it's their coalition bombing the of ninety countries but the reality is that America has what. Of course provide. That that person on the road apple sent up a little bit of help from the United Arab Emirates that make it America. Operation and it's been very useful as they as they cleared the route most of them out as so. A little bit coincidental. To concede they helped to place where a building. Has been such he destroyed the nearby building compete beyond that extent that you Oswalt would kick out of that building at the Flickr. I felt. Picked I think well it wasn't. But I that day to day it was accomplished and that was very accurately. Hit and anybody that's lived in the without that level of that support to them very much. To the cost of Iraq you know put. With what role do drones play. In trying to recapture mostly bad. I've told you play a great CO. Because he. Americans that are Iraqi allies to some of the combat. That by the Iraqi air force that's quite good now. Look at it again as if from my. I think that they don't like you just play some of them the coastal. Couple that that it really need to use trains as they have. Lots of I have a big gap able to customize fiscal. Really it indeed it is the people who are using jets of an Islamic state they have tried. Which they buy commodity and get hit it basically buy it turns out there and get them of course but you have to that would Somoza look at this event. Someplace that they can then people Tutsis. And to have Mozilla and then they use them it didn't. Does that a couple have a minute to. Verified that the people claim that they've picked up some of these gently control grenades of course very is that. They've been to fill out closed. Everything that that about someone. Rate it along to build back Iraq in its gut through. When he hits. It's been it's been really about it damaged and then in particular it matters who who who have been very badly damaged indeed at least in the west popped all the pictures as it I was able to visit the public damages. Its own zip I'll. That terrible. The public a little bit struck an epidemic of pumping stations development trustees they deliberately close enough by the up state physical back. Say it will take time and let very large amounts paid money made available they'll have to come. Saudi country is that. Gulf countries like Saudi Arabia and the maverick or from the normal. That with them. And the rest. The top administration has a massively cut back budget for this kind of thing. Means that. It may be difficult to get up on that I think it's really important that. Iraq is stabilized the mistake that Barack Obama made it. Cue up. That he withdrawal from Iraq often it was felt that I Qaeda had been which that of course but the things until fastest people fed up with the think of progressive. Christopher we don't get out of it thank you very much for your time that's Christopher Lockwood from the economist joining us today on the financial exchange on a day where the Dow is down 38 points in crude oil. Ever important trading down seven cents a barrel. At 479. All of that from aren't sure.