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Full Show 4-18-17

Apr 18, 2017|

Full Show 4-18-17 by The Financial Exchange

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

This is the financial exchange with Barry Armstrong in 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 very Armstrong and chuck Exxon. There is a large segment of the American population that's gonna be a little bit cranky today. Why well it's tax day is April 18 year 2017. And let's be honest if you're writing a check today you're not happy about it. In years where I've had to pay taxes I week to write the check until the afternoon and I tell my wife don't put that in the mail that night. And it still gets cleared the next day. Hi everybody it's very truck with you and I just think we need to tread a little bit soft and today because. People are upset and it and I understand I've I've been in the position reiterate that track. I had a moment of silence when I woke up this morning for the dollars that. Are no longer there that are no longer yours they would is that once it got in that what's amazing. If you write that check and I've done this I've I've waited till. You know the very last minute to write that check and it goes out in the 4 o'clock mail. It's still out of my account the next day it's it's amazing how quick they are in if they owe you money ever notices if you're owed money. Boy you can actively if you file an amended return. You're waiting sixteen to twenty weeks to get your is it really that long if it's and then we'll turn night I had the men and that's the federal. The state forget about I. I filed mine amended return. Had to be 25 weeks ago haven't heard word one from the state of Massachusetts when it was actually talk with the body this morning he was down in Alabama. And he filed his taxes on February 26 and he got his federal refund on the 27 still has not gotten as refund from the state development and get an IO used to have an Alabama we're sorry we only a little bit of money but it's not going to be here any time exactly. Hey I know many of you. Millions of people books don't pay their taxes that's a big mistake if you fail to pay your taxes chuck. It's it it it can cost you. Let it ruin your life. Roy yeah I mean just that the basic financial penalties the way it works out. Is what you have is what you have what's called a failure to file penalty which works at the 5% of your unpaid taxes. Free market tax return is late up to 25%. Okay. On top of that. Okay if you end up going. More than sixty days that you also have to pay a minimum of 135 dollars or a 100% of the taxes that you oh. Beyond that there's additional fees and then look as we talked about yesterday the iris to start garnish your wages they can eventually seize property. They can about what happens in track is people so I don't have the money pair. Again I I know I should file my taxes my accountant prepared and I prepared it. And I talked to woman just over the weekend said Eric I don't have the 400 dollars what do I do. We shouldn't have gotten into that situation begin with you earned it we know and then in and you've been I think out in front on this that a lot of people who work for Hooper air B&B we're gonna CAA would Hugh here in the swath of these people who unit they've never had 1099 income before they've said oh well I got this money got a thousand dollars I can spend 2000. Not realize that they have to save some of that for taxes. And that's what happened at this particular woman she worked as a IE nine and contractor. Didn't understand is their first job she's young lady just graduated college. And she owes 400 dollars in federal income tax it's safe to inhabitants and we'll look this is what you need to do. File the tax return. And work on a payment plan with the Internal Revenue Service and that's what she's gonna have to do to show up to pay. You know fifty dollars hundred dollars a month until that tax those do adult. Fail to file your return I don't care PO. 400 dollars or 4000 dollars file the return stay in front of because failure to file. Is huge panel you you will regret that. So file your return even if you don't have the money in you can work out a payment plan with the Internal Revenue Service and they'll do a very quickly. And they'll deduct the money rate for me checking account on the same day every month of course they well. Our poll question today is are you getting a tax refund 81%. So far our listeners are getting a tax refund. 18% say no we're not giving tax refund chuck you had to pay Tucker I can't remember what did you say get a refund. Yeah and get a little small refund but the major me too me too me read but I like the you know people criticize. Guys like chuck we'll see Tucker he should never get a refund should always have to pay. You know what. If I I I know it from a financial standpoint it's not Smart to get a refund because I mean she gave the government use of your money record for the year. But psychologically. If something beneficial about getting re just makes April 18 not that bad day. If there's there's no doubt about it from off from a certain perspective. You sit there and you say OK it is kinda nice to get this in and a lot of them was used that as a way. Two lac pay for vacations in the cellar and things like that are maybe pay for some work around the house in spring so what I get that again how works. But I think the big thing is. It's it's okay to get a refund but you have to manage how big that if you don't want to be getting 5000 dollars every year. That means that you've been giving up 4500 dollars a month yup my if you're getting 15100 point 500. Okay I see what people are trying to do there but you certainly don't want to be getting back you know 5000 dollar saying I don't look I got all this money back well yeah he also didn't have any use of. If you'd like to take part in our poll go to financial exchange showed dot com the question is are you getting. He tax refund yes I am and I'm quite happy to be getting the tax treatment. And I Ernie my buddy Ernie just emailed me he said Barry they need those folks need that are getting tax refund need to get a better count. I I still come back maybe this is the first year I've gotten a refund NM in a much better mood today than it was a year ago. Senator seem very chip is just it it's amazing I'm not writing a check and an end and I I'm in a better mood my wife commented on this morning. Today boy you're not as cranky he thought that's got a refund. Hey let's talk about Netflix. Netflix and interest in stories stocks trading down will explain why. But Netflix. Year over year track I looked at numbers tonight I won't worry that less about quarterly results and I do over longer term trends especially with a business like this yup. You're last year they had 81 point five million users now they have almost a hundred million. That's how many people paying Netflix Tucker. Every month to subscribe to their service on paying I think it's eleven active in my panel I have the five person package so it's 1195. Per month. And you guys have the TP packet out what are the cheapest. Wanna have open minds like in 99. Went. I've I've got the cheap one as well the different tiers that they have. At this point there's eight dollar one to ten dollar one and twelve now. Okay what are the differences the eight dollar one you'll only get one user poll and there's no HD. Well I'd like you were terrified kind of impossible today doesn't quite make sense. The ten dollar 12 screens and HD. The twelve dollar one that's when you get four screens and you also get ultra HD four K if it's available only got five. Looks like four that's it. It looks like for here. You could also still do the the dvd plan if you're interested the one this planned to dis the three just or you would why would anybody do that. By then there are some people who still subscribe to dvds believe and you know but as you mentioned Netflix nearly a hundred million users here. And what we're seeing. About fifty million those are inside the US okay. Andy did reach saturation inside the I think they're getting close I think they can probably get up somewhere. Maybe you're right now owns 60000065. But I think you tapped out than just a total population there yet total US population 330 million a year what. Maybe. 250 million watched TV. More I mean how many. You'll see in about six months or so. Wait until we start seeing the Greinke using ipads they've won the opener Bob is anyway it happened so we'd. But if you add multiple users on most of those accounts I wish I knew the breakdown of Netflix as to whether how many of them worthy you know the foreperson packages vs the two person packages this. I'll tell you if you have a four person package everybody's using like those those counter com I'll tell you I use the two personal right but I still I've. Five people that use so again half the time I try to go watch something and I can't give you my parents my cousins or someone's watching something. And I'm paying for I'd look at day. The II bucket the biggest competition. To Netflix. As being and I thought would be who I look at is being Amazon prime they are developing tattoo or video. And you know Tucker they cut about half the number it domestically. About half the number of users about 25 million users that's a lot of users. Did you while listen to while Reed Hastings conference call it headache is. He had a great life are in them. Where he said look Amazon's our biggest competition our biggest competition is sleep and knew it was kind of interesting actually because there's there's a very valid point there that. Do you use Amazon yeah use Netflix. You don't Sam get a top one I'm I'm only gonna have one people subscribe to multiple services it's very similar do you remember back in this is again not that long go but it feels like it is now you're back in the nineties. Where you go get the mail on like a Thursday and then you'd have five magazines that you subscribe you know you didn't have just won yet like 45 you know you'd you'd have you know Better Homes and Gardens men's fitness Sports Illustrated all these different things. I think it's streaming packages are pretty much the new magazine at this point where you don't have just one you might have to read three or four. But from a financial perspective the responsible thing to do. Would be to cancel your Netflix Netflix account. And just watching Amazon for a few months and they weren't and then go back in public him aside yet to do an annual. And Amazon and and yet that's it it's such a he did and in honestly. If you look at from a pure financial standpoint don't get any of them you don't need them now you know you can still get over the air TV you just have three channels ABC CBS and NBC want. But there's another wild commercials that if I'm on to say it again like yeah that the pure finances it's like you know people say oh he just stopped drinking coffee late. Well yeah you know if you stop drinking coffee Tucker also wouldn't be able to function so I would not be here. And now we like we don't obviously there and I don't want to producer I want Tucker. How much does it cost ice to deport an illegal alien. If you ever thought about that B of it matter if it's ever crossed your mind crossed my mind and saw the story. As it yet. Kind of curious as to what it costs when given illegal aliens you have to deport from the country. I was curious as to what it costs so in the next segment that's what we're talking about will be joined by our top yield Blanco from CNN money. Telling how many people how many illegals did we deport last year and what does it cost every time we want to deport. And illegal alien that's next from our insurer match dot com studios. Berrian judge and the latest every day beginning at ten only here on the financial exchange radio network. According to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know what you're paying for your mutual funds to understand the difference between the ongoing yearly fees and the transaction fees the cost of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is Barry Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these these so call now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange showed dot com to. Juries are for to securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. As we age the state claiming an asset protection become a Paramount importance to maintaining a happy and successful lifestyle. Many families to go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful a nursing home stay can judge your financial wellbeing and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in a similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. A senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show dot com. Hi everybody very Armstrong here from the financial exchange and I'm joined by Jake to whose senior vice president at leader bank. Leader bank has tremendous amount of mortgage loans as a matter fact I've used them a couple times to refinance properties in the past. Jake how's the mortgage business these days it's been an extremely busy very. There are a lot of people buying homes. So that's kept the purchase market very very busy you know on top of that rates are still an all time lows we've a lot of folks who are refinancing their homes either get a better rate report from the cash out because of properties appreciate. That's that's gonna ask you how does somebody know whether they should call to refine its. Well you know. There's there's really 22 ways if they feel that the rate can be improved. Give history. And you know thirty year fixed racer all time lows. If you have anything in in 4% range frankly give its rate in my view would be something. Or if you need to take some cash and of your property wondered for a college tuition for kids or you guys have home equity lines of credit we have home equity lines of credit as well and the cool thing about that is. If you already had agreed a raid on your first mortgage you know home equity line of credit which will leave your first loan as it is allow you access the pick people up makes an awful lot of sense and you've got fifteen year fixed rate mortgages by your adjustable rate Mort all types and hopefully we we have all types of that in addition to that were actually very active Jumbo lenders though. As properties have really appreciated in the markets in Massachusetts. There's been higher demand for Jumbo loans that we do a lot of that so last year Berry we are actually not the number two home purchase minor Massachusetts. Good for you congratulations folks that's. 8776917900. You can check out all their rates on line at leader bank dot com. Or you don't talk to human being in my called it loan officers standing by right now. 8776917900. That's toll free. 8776917900. Security suffered two securities America and members finreg SIPC and advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges of live on FaceBook so make sure like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. This segment of the financial changes prompted by leader banks you're looking to diversify your portfolio precious metals are a Smart investment. Gold and silver bullion coins are now available at all leader bank locations. Call 8776917. B 900 or logon to leader bank dot com. For more information. Chuck we talked about Netflix and how they're. Moving towards world domination. But their stocks down three dollars a share so clearly they disappointed to some degree. Yeah that disappointed just in terms of overall subscriber growth numbers I think I'll Wall Street was expecting something a little bit more robust not a lot but just a little bit higher there. On the other thing you have to realize that Netflix their cost continue increases well they are on the hook right now. Their outstanding liabilities for content they've already agreed to purchase in the future. Is north of fifteen billion dollars okay. The one thing that gives me pause with regards to Netflix when he talked about some the other competition whether it's Amazon whether it's doable whether it's apple whoever is in my and that competing on the video side of things. All those other companies. Have other businesses they can pull funds from if they need to. Netflix doesn't next one trick prone Netflix is a one trick pony so Amazon if they want to. They can say hey we got twenty billion dollars in free cash flow coming from AW less from Amazon Web Services let's take dad and throw all that money. Act content. Do you think it would be wise for Netflix to say okay we're gonna have a sports and news service debts. Just like des sports highlight show. That loops you know maybe it's an hour long show that they can just update periodically with fresh highlights. And may be in new show and a bit like. Do they getting to that type of this what's the upside. What what what would keep their viewers keep it just to keep people on Netflix with that's what they're all what does that give what does that give them that no one else dollars. You know when you talk about it so bad unique content the reason that which is paying for content is because if you keep all the Disney movies often Amazon and people have to subscribe to Netflix I'll be given sports highlights they'd go to YouTube and get this thing go to mlb.com and get the signal anywhere. And not pay for your service so were I look at it. Is if if Netflix wants to. Bring in something new where it where they need to get to in this give and take an awful lot. Of work with studios to try to get to this point. Is something where. We'll give you want to negotiate some kind of simultaneous release on Netflix so we have fast and furious they'd come out last week okay five some of the first with something on Netflix were hey if you're Netflix subscriber. Instead of paying. Twelve dollars a ticket to go out and see it pay us twenty dollars you can watch it and how mean. Like that you know that that's the kind same day saying it now. That's the kind of thing that I'd be interested. In seeing and they'd have to work with the studios do what they are what the pricing would have to be and so forth they're manufacturing their own little movie I'm not talking their own content. I'm talking you go to Lionsgate you go to Sony and you say hey look we want to take place he'd be killed yeah theaters if you did that though. Those companies are saying we can't do that but the movie theaters out of this honestly the entertainment companies don't really care that the leaders are necessary evil to them they are the means for distribution that exist in the twentieth century. If you're no longer have to go out to see movies. Hey why why why not use us someone who might be able to deliver more cheaply to keep in mind. Operating a movie theater you talk about twelve dollar ticket okay how much that goes to just keeping the lights on how much it goes to the electricity the plumbing and all that. If you don't have any of that overhead at Netflix comes in and says hey look out of a twelve dollar ticket you get six dollars right now okay. Eight will be the equivalent of an eight dollar ticket but we'll give you seven to their overhead so rush hour. You know. Couple financial firms reporting earnings this morning going seemingly an opposite directions but the stock price for both of them is down let's start off with Goldman Sachs they're down nine dollars and 42 cents a share. You know I was talking to a Goldman Sachs insider over the weekend. Gary Coleman's departure from Goldman Sachs. May have a more. Pronounced impact than anybody anticipated is not only did he leave he took a lot of people with them. Yeah he yet he brought quite a few people with the mis snapped up the white house office that he runs pretty quickly with Golan back speed and what what's interesting. Goldman missed on both got top and bottom line okay. And in particular. Equity trading revenue down 6% year over year. Goldman doesn't miss burial no they don't you know Goldman is proud as consistent as it gets when it comes to earnings Goldman typically. Tops our earnings estimates 90% of the time the average company tops about sixty so that tells you know how good Goldman is at at outperforming. Obviously Goldman down 4% today on this news here. The other there's nothing wrong with Goldman they're going to be fine in the long run but. Today there is Eric Kohn was a top banana in that company and the you know people may have. Underestimated his importance within that organization there's something to that Gary Cohn move just because as you mentioned you know he is. He's not a rainmaker Asia sales he might not be the smartest guy in the room but he's in the top three he he is a very Smart very competent executive and Goldman Sachs absolutely can miss Gary called keep me keep an eye on him he is gaining in influence within the White House. He is rumored to be. The replacement for ranked preakness. And that's that's out power he'd want that job. I don't know and I know he accused staff is different beast. You know I chief of staff for Lloyd Blankfein. Yes I just. That's that that's a tough gig I mean that's the job the burned about two years Yahoo!. You look there's no chief of staff and stays more than three years it's just like. Get me out of here you know Bank of America shares down I'm surprised they crashed it in terms of earnings is when they beat on revenue debuted on earnings but their stock is down eight pennies at 2273. Which is the opposite of what it was doing before we started trading this morning futures it was up more than 1%. Yeah down a little bit here I think. You know pretty close to even I don't think anything was too much of a surprise I think. People have been looking maybe for an upside surprises in stronger guidance based on maybe some potential deregulation in the financial sector so at this point. You know again Bank of America. He doesn't have the track record of a Goldman Sachs that you you don't expect him to beat earnings quite the same way. But obviously just a little disappointing I think for Wall Street was expecting maybe a little bigger beat. On the top and here. Couple of earnings that we should push out there housing starts were down in March they disappointed they missed the estimates for housing starts that's bad news for those of you. We're trying to buy a push for sandy so if there's nothing on the market to buy you're right however. Building permits beat expectations so. March is a bad month for weather. March we hope that the winter would be over by march 1 it was not that affected began on March 1 crappy on March was terrible month for weather and it definitely had an impact on housing starts. Building permits up though that's a good number. Yeah I'm also curious about and housing starts thing beyond that way at the freeway. Destruction happened in March I wonder how much that affected that whole area around in terms of being able to get goods in and out in the southeast I don't know. When we come back we'll have a trivia question for him. Making your Smartphone even smarter Dell Motorola mobile lab less urgent financial exchange joke in nineteen Jordan who. Played stores this is the financial live stream radio network. Time for bank the page view with liter maximum reward accounts can 1% cash back with a debit purchases and an extra 10% back when you use your card and featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and earned annual percentage yield ten dollars mass prison until late fees may reduce earnings rate subject to change without notice member FTSE leader bank. A step ahead according to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know you're paying for your mutual funds to understand the difference between the ongoing yearly fees and the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is Barry Armstrong just because of mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these fees so call now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange showed dot com it's. Juries are for two securities America incorporated member -- SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated many of you listening -- they are either retired or preparing for retirement investing in the market can be as safe strategy to develop growing assets and income to keep ahead of inflation but here's another investment you can make that may also help you achieve your financial goals if you invest in solar energy you may see double digit returns and growth call alternate energy today for a free solar analysis for your home or business at 85591201150. Well cited solar system turns a monthly dividends and reduced electric the best part is that these solar dividends aren't taxable. 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If you missed any part of today's show not to worry for the financial exchange showed dot com and click the listen. Then click on the mend and catch up on every segment. You'll also find contest of all of our poll shows just punch up that listen but who had financial exchange show does come. Trivia is brought to you by alternate energy investing in solar can save you thousands of dollars on your electric bill and those dividends are not taxable. If you've thought about installing solar your home or business call alternate energy for free estimate and learn how solar can work for you. Call 8559120115. In setup your free. No obligation consultation today at 8559120115. The failed Bay of Pigs invasion took place 56 years ago this week. We will be doing trivia about the attempt to overthrow Cuba's dictator it's time Fidel Castro. Which American president initially ordered the training and arming of the force of Cuban exiles for the Bay of Pigs invasion. Now our text number 68681. Listener with the correct answer will windy 25 dollar gas card which American president. Initially ordered the training and arming. Of the force of Cuban exiles for the Bay of Pigs invasion and again our text number in the studio is 68680. We are joined by our top video blog go from CNN money to talk about. Illegal immigrants and the cost of deporting them each year I have taught you hurry you. How are you. Glad to how many illegal immigrants did the US deport lack. Last year. So that you were out. Ordered to rush leave larger than 50000 undocumented immigrant. From from on the countries last year and I am about 240000. Of them were were handled by. Into how does that compare to pre prior years. Arm and in terms of prior year. About. It's a bowel wall. Is it that it's been. It's been declining number of deportations of the year. But. That number one and B album is about a Mac that the united they can actually can actually seaport in and then you know a year. Now most of the says I understand it. Are at the border rightly be either patching illegals rated the at the border. That's right. The majority. Of the apprehension where they are at the border it there are much fewer apprehensions. In the interior of the country. In what. How much tax Payer money did we spend on deportations last year. So let. Here Chu I. And remove undocumented immigrant meeting. You know from the arrest. Through. The legal proceeding and the detention and the transportation. He spent about 3.2 billion dollars. Indeed I read that each one costs about 101000 dollars and. Yeah I close a good 111011. The exact number 101008. Engine 54 dollars last year. Hurt you work. OK so eleven grand. Do remove them. Where are most of the deportations to Max talk topping up. I'm that's right. Most of the deportation or Mexico that's where. Most of the people come from Newton. Also those of in such close proximity that pretty easy to beat pork job though people back to the. And then I understand they have monthly flights. That leave the United States and go to the Caribbean and guessing. The primary destinations in the Caribbean would be what Dominican Republic and and Jamaica. There are there Dominican Republic definitely Jamaica and other parts of the Caribbean. Also are where you know like two but yet the light there. You are about one month though folks who get the chain. We'll have to wait until both like. Go and why only carry about a hundred people yet and they waiting jail right. Yeah they weighed in detention center boards often are our president Sergio now. OPEC RW thank you very much for your time we appreciate the research. Thank you very much a tough deal Blanco from CNN I know I get is 111000 bucks or just make. Now I'm most curious about the financial side of things says Ricky is high or low. Well it's nice high if your if your pet the majority of the catcher right at the border rate so you catch a 75% of them at the Mexican border. I would think you could do it for less than. Well it's. Clearly I think it's the other ones where you have to have multiple people involved in planning and things like that and obviously drives the cost up when you talk about equipment staffing whatever it is. There's a significant costs associated with that out I was actually surprised that was a little higher to be honest. So I. If it's clearly a ton of money either way you look at. For some reason I was expecting it to be higher. Teresa may plans to seek an early election that way at tea. This announcement was made in a fury in talker not when this came out produce in this 5 o'clock or 6 o'clock hour the latest. And the futures you should see what happened the value of the pound in the futures they just both talk tanked on this news yeah I'm a and I'm curious about exactly. What the rationale is here on this it seems like there's a slightly more seats yeah I mean I just first of all I find it. Baffling I always find countries Ricans call an election where we want. A little ops and apple I I just find that a little strange to while PG I. You know what I would I'd like about it. You have to live through this horrendous campaign season I think about American elections how long is the campaigns when nobody is that he just had an election last year it's like imagine if you have to do one of these a year now but you just never ends. I guess that it well but she. She feels that she can pick up quite a bit of power yeah having an election in June. Yeah I was talking with a couple friends over in no 1 in this morning about their thoughts. And pretty much they've said look Corbin is pretty much run labor into the ground at that point. And she's up by twenty percentage and it's it's not even close on sushi clearly thinks that she's gonna be able to grabs more seats there's a great interview from mob BBC this morning though. Where you know some guys going around asking people how they feel there's gonna be you know the general election in every one of them just like. I don't want any more elections like please make it stop at this point they're just interviewing like people go and breakfast and stuff but at least it's only like it's not even sixty days of campaign. It's again it's gonna act up they could have another one and in October and now it's it's like. And hopefully at some employees have to deal say look we made our bank governing witness you know like you can't just keep having elections every time that if something changes in your poll numbers are up and news that you may win next receipt. We got this election and then you have the French elections to there on Sunday. Yeah those coming up in and that's not expected to be a final resolution the French election is likely to go through into the second round shall happen about a month from now in men. I'm down on whole foods we have told you that in the past I just the and I'm not an enthusiast. I like some of their products Tucker and hire an agreement that they have pretty good prepared foods they have wonderful cakes we've got to buy birthday cake a sham and kick from their all yet trial I mean they'll look for a delicious when ever walk by them you have my word that they made a very good birthday as undergo an and you like the burritos you have to prepare foods that do I just don't like. The store. And I don't own the stock because I don't believe in the business model anymore. We are gonna be joined by Heather had from the Wall Street Journal she studied. Whole foods and she can tell you what they are doing to try to turn around their business operation that's next from our insurer match dot com studious. Those first attempt at Health Care Reform has failed. Can he pass tax reform before the end of the year to be here with the Berrian chuck for the latest on the president's agenda and how the markets are reacting. This is the financial exchange radio network. Hi this is very Armstrong and I'm here to tell you about a new dental product that will make your next visit to the -- much more enjoyable -- on its dental jail is revolutionizing the dental industry a recent double blind study at UC Irvine found that live beyond actual removes -- two and a half times better than the leading toothpaste for treating gingivitis once you start brushing with Libya on next you'll never go back to regular toothpaste Leon X contains a powerful anti oxidant that makes your teeth and gums healthy and it's safe for people of all ages I started brushing with -- -- twice a day and my dentist told me he can already see the difference protect your oral health today by ordering Bolivia on X -- now call 8559120300. Or order -- -- at best dental jailed dot com -- mining Berry and you'll get a 10% discount off your first purchase call 8559120300. Or visit best dental jail dot com to place your order that's best dental jail dot com. As we age the state claiming an asset protection become the Paramount importance to maintaining a happy and successful lifestyle many families to go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful and nursing home stay can judge your financial well being in transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in a similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. The senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary Texas called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show. I've come. Ari Armstrong here and I'm joined today by estate planning attorney potluck ski from the law firm up Cushing in Dolan and we're talking about how old rules state. Specifically Todd what I wanted to ask you about this what's the best way. Old rental property I've got clients and bought rental properties the last 3040 years and it accumulated a lot of it. In the old and it invariably failed summit jointly something else see it it's like a hodgepodge. Of ownership quite often. Sometimes they're clearly when it jointly with children which could even be worse than than any everyone's human you know please don't do that but. I think what real estate with rental a realistic bury that the really the best thing to think about is your creditor protection. And that is not alone in your name but only in limited liability company can Trace its LLC people heard about them. You take your property is road and you take back share you know it's just pure that you and your wife. And then you put your shares. Into your trust either you or revoke double or your irrevocable trust depending on your objectives. The reason being is when that person slips and falls or gets hurt or drunk person leaves and hurt somebody. They're gonna sue the owner of that property in the owner better not be you because then all your assets are exposed rights. But if it's owned by the LLC and the gonna assume the LLC and not the shareholder you know you and they can only get the building that's in that LLC. Wait a better form of ownership for a to tell you what it fueled rental property I would strongly suggest that you call Cushing and dole and receive their guide how to only real state 866. 848. 5699. At 866. 84856992. And download the guide go to legal exchange showed dot com it's called how to own real state. Pretty basic but it's more complex than you might think. Call now 8668485699. Today on the markets all day long. And our brand new website financial exchange showed does come could be on demand in protagonist follow the markets from pillar to post all the financial exchange showed dot com. In March 1960. President Dwight Eisenhower. Ordered the training and arming of a force of Cuban exiles for the Bay of Pigs invasion. John F. Kennedy inherited the program when he became president in 1961. Winner on this question is Wayne from North Reading in Wayne takes on the 25 dollar gas card and tribute today is brought to you by alternate energy. Investing in solar energy can save you thousands of dollars on your electric bill that dividends not taxable. If you thought about installing solar at your home or business call alternate energy for a free estimate. And or house or can work for you call 855912. 0115. And said your free no obligation consultation today that's 8559120115. Well -- whole foods be turned around to good question we're joined by Heather had from the Wall Street Journal she studied the company in. It's gonna share some thoughts let's I have a power you. Mario great so what are the biggest challenges facing whole foods today. Yet the whole foods really of loans the natural and organic. Vector for decades they were. Obama the forty they'll. Forty years ago now like John Mack the this EO who's built. At the head of the company and they really had you know that there's crunchy granola. Health food store doubled and made it what is today knows all the different kind of I haven't eaten get a couple boost the upscale environment but also you know prices and in the last several years competition really caught up. The whole foods though. You can get natural and organic product we everywhere Wal-Mart and Kroger has caught they'll have them. And they have improved a lot cheaper prices or food however did not love their prices. Nearly as much as many analysts say they shouldn't and because the that they have just lost a lot of market care. These days though whole foods who had. Six consecutive quarters now. Decreases in interest sales which is really important metric retailers. And that's the longest stretch they've had since they went public in like 92 that is really a challenging time for the growth sure it. This could become completely this moment for them. Well given all that. Adversity they're facing why did Jana partners which is a big private equity firm why did they take such a large stake in whole foods. I think genocide great opportunity though analysts have been asking them or recommending that we'll lose. Whether they had a lot of the way it is. Dell does product. The way it distribute the product where it the way it stuck its shelves for a long time now. And yeah violated that you know is the exact time to to act on those. That by and it and make our recommendations. Last week that they. Took a very large share that the large shares of the company produced about 700 billion dollars worth. As shares. There's been like a cricket. Order poll who's nearly 9%. The company's stock. And could analysts said the ban which was very very cold at them that they. Clear recommendation. For potential. Leader board members be the next time that apple who could nominate if there were exported and sold all. They recommended many and that change is. Q how is it vacant spot itself. How it get the committee yet how it went right wing yup and basically said we want you to do these things or. We played become more of an activist. Yes it was. How much control does MacKey had do we know it John MacKey the founder and CEO of whole foods but he went public a long time ago my guesses. He's deluded his ownership does he have enough. Clout with the board of directors to fight off Jana. He has a lot of crap they're dealt so. Up until very recently he with a coat he which is a very unusual. Model for a company waltrip rob the other. One of his co founders. Shared that title with him. Glad in the fall it was decided that time I step out and beat the old CEO of the company as part of the effort to streamline. It leadership that he still has a lot of crap there at the board. On the board members of the vanity. On the board for a very long time though John very well. But EU they a lot of pressure right now. What's his plan. What what is MacKey playing you know what Janet wants to do what is MacKey won it. Now a lot of blood. That he's doing is what catalog. The government that the tip it really is. Kinda shake things that typical food it is meant that things. The kid I want another applauded and then they just need a little bit more time though. That is pushing forward with a lot of these reform. Again in terms of how it. It'll suppliers that how it got itself in pricing. But. Got back yet wolf with this thing you know we just need a little bit part time you're trying to beat these things but these this huge changes for a company. There's been operating the way it has for very long time to eat it forever but Allah be allowed change. Well thank you very much other we appreciate your time. Much Penner had Wall Street Journal symbol for whole foods is WFM and I think it's up to date that trading up. Yeah day in whole foods accompanies that you know I've been pretty outspoken about the fact that. I don't think that grocers to we do best when their publicly traded companies because it think it puts too much pressure on them to. Perform on a quarterly basis yet is just to perform on a schedule and I think given that business it's so difficult. Because of all the different moving pieces there we'll just talk about the story itself. Let's let's the unity take a shopping experience. From. Whole foods and compare to market basket Stop & Shop Shaw's. Or any of the other. Lawrence growth for stores wegmans right. He hears the knock lack of selection. Anybody you just don't have as much selection is limited the owner of the basic stuff like I don't want weird organic mustard I want Golden's or I want French's I want something normal I don't want something that tastes like it's come out of you know cardboard box. Well when he says selection they have everything there is just went six what do you mean the prices that me you know. Stop shop standard source tell us and even the stars are smaller Parker. They give you walk into a whole foods store. It is not as big significantly smaller than the Shaw's that I go to I don't go to like a super stoppage I go to where they regular ally needs is pretty massive actually now and hang them but the one might you might certainly be smaller I go to one in Wellesley. And it's it's it's it's a nice story it's small so. Out Mike my personal criticisms selection. And price those are the two things and I could probably get over the selection problem. If the prices were excellent thank you wanna buy a piece of fish you're talking 20/20 five bucks a pound. If it and I have a lot of seafood in my life and I like seafood the EU wanna buy. A state you you're looking yet. A price that is double what you pay him market past. No no doubt about it and I think that the big thing that whole foods needs to figure out is how to we survive in the world where everyone does what we do. Because remember they were the original and the original organic growth and their margins were the envy of everyone in the industry. But when Kroger comes in starts doing it would Stop & Shop comes and starts doing it would enjoy it well they're doing well. It's it's tough and and I think what whole foods is doing now Tucker mentioned this last week. With the other 365 brand that they're trying to get their stores going on as a lower cost option but you just cannibalizing yourself. They pulled the plug on all that they the they've they've all their expansion plans they've they've nuked. They're trying to revamp their existing stores. I'm not sure can be done to be a thing to watch you know they might be the other problem I think they have this. You know yet the founding CEO there. He's going to be resistant to a lot of things he's getting it added I think if you really want to make sweeping change you've got to say hey you've been here for forty years time ago. Here's the other thing that I've figured out in the last couple years if I want to pay a premium price for something let's say that and having a party I wanna have you know what I wanna celebrate an engagement or something whatever it is. There's better places to go. For quality that whole foods really where. All all kinds especially grocers that have popped up in the last few years the food scene that is out there today. Is unbelievable if you want good quality and and you don't need to go to whole foods is honestly. I don't know their stuff is. Were the price you see I'd still go to whole foods I'm picking up dinner on the way home I'd rather go to whole foods and buy prepared food from jaws or wait don't go to congress though I've made that mistake cost a lot of money to a team box electric likes you can think. You make a mistake on the financial side tree whole food shares up 1% 3491. Affair. Thanks for tuning in to this hour of the financial exchange will be back talking about tax reform. For our insurer match that constitute. According to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know what you're paying for your mutual funds to understand the difference between the ongoing yearly fees in the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is very Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these these so called now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange showed dot com -- Juries are for two securities America incorporated member finreg SAP C and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are unaffiliated. 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 means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. 8776917900. Or visit leader bank dot com. Member of the SE equal housing lender stimulus number 449250. Subjective credit approval leader bank a step ahead. Your financial strategy has to include a thoughtful insurance plan. The insurance exists to protect your assets our friends at the insure -- -- 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 -- that describes zero 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 insure a match to compare multiple rates and carriers and 844 and 99 match -- 84499. 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. Call today 844 of 99 match or go online and ensure a match dot com. It's actually free guide or giving up for the month of April. And chuck I wanna talk about how trading costs and other fees impact returns for mutual fund investors. Yet this is one of the big gut things that I think is kind of an unknown for a lot of people a lot of folks. Who do invest in mutual funds that familiar with the concept of a front and a back and load their familiar with the concept of an expense ratio. But what they often don't understand that there are additional trading costs that mutual funds have to pay either in the form of mark up. Bid ask spreads whatever it may be. That are necessarily applied. In some of those familiar ways that people typically know is this not disclosed clearly to an industry because that's. I think this is a point of confusion. You know somebody buys a mutual fund. And lord forbid they try to read the prospectus which is confusing in its own rate. But often times I think it's even difficult to find this even when you're going through the prospectus it can be difficult to find it now I think that's one of the biggest reasons why people need to be able to go in and take a close look at their portfolio because oftentimes the individual investor doesn't know where to look. Sorry. That's chalks audit Chiming in with his thoughts on the hidden costs of mutual funds there's a lot of them. And you may not be aware of exactly what you're paying associated with mutual fund investing. If you like get a copy of the sky it's called hidden cost of mutual funds call 800. 3934001. That's 800. 3934001. Download it right now from a financial exchange showed dot com or call told free. Our office phone number is 803934001. Securities offered to securities America incorporated member finreg SAP C and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader banker call and learn more call 8776917900. Or visit leader bank 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 a step ahead as we age the state claiming an asset protection becoming Paramount importance to maintaining a happy and successful lifestyle. Many families to go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful and nursing home stay can judge your financial well being and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in the similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. A senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary Texas called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show I've come. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visibly your bank dot com member of us equal housing lender and -- number 449250. Subject current approval leader bank a step. Hi this is very Armstrong and I'm here to tell you about a new dental product that will make your next visit to the -- much more enjoyable live beyond its dental jail is revolutionizing. The dental industry a recent double blind study at UC Irvine found that Libya on action removes -- two and a half times better than the leading toothpaste for treating gingivitis once you start brushing with -- -- you'll never go back to regular toothpaste Leon X contains a powerful anti oxidant that make your teeth and gums healthy and it's safe for people of all ages I started brushing with -- -- -- twice today and my dentist told -- he can already see the difference protect your oral health today by ordering Bolivia on X -- now call 8559120300. -- order online at best dental jailed dot com -- mining buried and you get a 10% discount off your first purchase call 8559120300. Or visit best dental gel dot com to place your order that's best dental -- dot com. This is the financial exchange with Barry Armstrong and showed sell enough. You're exclusive look at business and financial news affecting your day your city your. World and stay informed and up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck soda. The stock market rally on the election of Donald Trump the rally. Beginning in November. Day after the election in the stock market started to rally and that rally continued in December January February. And march. Rally is stalling now. And I think the stock market rally. Stalling is related to difficulty associated with the health care bill. And difficulty getting the tax cuts through a promise to investors by everybody it's Berrian truck with you here and you know let's start it let's call a spade a spade a knee couldn't get. The healthcare bill was promised on the campaign true we're gonna repeal obamacare and got another plan ready to go. Failed miserably. Well it in and I think you know this gets to some of the questions that we had at the outset of bot trumps election the big question. Was OK you have all the pieces in place to be able. To XQ now what are you going to be able to do and are you going to be able. Actually execute at this point and so here we are. You know we're about two weeks away from come the close of that first hundred days. And I don't wanna say it's been an abject failure because I don't think it has been. OK I think there's certainly have been the only thing he's done gotten done those through executive order but keep in mind this first hundred days thing. Look at how which presidents typically get done in the Obama got enough and that there's not a lot that typically gets done. I do think there have been some areas that have been you know somewhat concerning to see him and obviously what the first thing the role that was the travel ban which was a complete disaster and is still tied up in courts. So that was just to complete. Disaster and obviously he he's kind of tried to move on in distance himself somewhat there. You mentioned trying to repeal the ACI. Obviously and another major failure to get anything done while we are obviously needed the savings. T get hacker to get legitimate and comprehensive tax reform and he needed the savings and hopefully you need the savings to make apartment okay. Now whether or not you needed to make it permanent I think it's a big question because we had the bush tax cuts back in 2001 that sunset after ten years OK if you get ten years of tax cuts put in. I want to do with him but yesterday late yesterday Steve minutia who's at Goldman Sachs guy and now works as the Treasury Secretary in the White House. Coming out saying look like a nut issue I don't agree attacked work done this year he had promised that by August and and and that's been my thought all along I think it's January or February thing at the earliest which is not the end of the world but it's just that a lot of investors had anticipated having those lower tax rates going retroactive. To January 1 seventeen that's not gonna happen. Knowing it and what this shows more than anything else is that even with the and we still look we saw this back in 2009 with Democrats yeah. Political parties are not as unified as they present themselves they may support themselves e.'s board each other you know in elections and so forth but when it comes down to actually governing. There are whole bunch of differences within our party's okay. You'll get the Republican Party today you've got this side it's the Tea Party in the freedom caucus you've got the moderate Tuesday group you've got a whole bunch in between you've got libertarians that are kind out there on their own little island. You've got a whole bunch of different factions in there that all want something that they can deliver to the constituents otherwise they'll get reelected and in this was the big question. With Donald Trump. From day one as he has always been his own boss. Now all of a sudden he's got 535. Other people who don't answer to him the answer to their constituents. And how does he how was able to wrangle them how was he able to work with them and for those slugs to make and do what they want. It's it's a tough putt to be able to do that if you've never done before and I think we're starting to see the hate you you're going to get a little bit bogged down as you try to do that. And I think yeah that's what the market is seeing right now is some concern hey. You're not gonna get this type of tax reform you're not gonna get this type of my Health Care Reform at least as quickly as we anticipated. Here's the most disproportionately. Popular job in every state. They thought this was curious like in in Oregon the most popular job is that of the longer in California. It's a farm when you say bloggers that like logging orally of the Paul Bunyan aka one's not but you're not any longer you're a longer Paul Bunyan you know countries. In Oregon. In California farmworkers were farmworkers there that's that's the popular we think about all the wineries. Are groused about. He that I think that's in the energy that's in North Dakota. Via talk to do in order routes about his joke around about I have no rally at about you looking up that is to be in the energy sector. Rest about yes you're correct is an official classification of natural gas or over personnel. They're typically performing jobs that require little training in the energy industry so groused about North Dakota or the most. Most popular list this proportionately popular job loggers in Maine. I thought that Minnesota's was particularly. Fitting is there any state that you would think would have a disproportionate number of book binders more than Minnesota why would you think that is the very polite people there yes they're very polite people and I can just picture them going home to their homes and binding books in their free time. They're very polite and Eliot okay. Very polite lecture that has the dude being polite in Maine loggers tree blockers again yeah the most popular career. Equipment set a similar in New Hampshire. Industrial engineering technicians in Burma. Try and figure how why that would make sense there lathe operators in Connecticut that speaks to all the military were deployed to vote in GD and all of those guys. Contacted service workers in Rhode Island amateur that's a good thing anyone else a little weird about that in the Pennsylvania it's ambulance drivers. Now the equal why why why they have more ambulance drivers than any other state visit Philadelphia. And logistics yeah. The Philadelphia. In Massachusetts biomedical engineers that makes cents with a all the Biotech companies we have here West Virginia roof bolsters slate that there's some stuff out here about tire builders. Yes South Carolina that's of Carroll Leo we have South Carolina and Alabama as well. A pollsters in Louisiana. Mississippi Mississippi yet both captains and pilots and we Louisiana and special education teachers in Florida. Interest and slaughters in meat Packers in appears Kansas. McDonald's. Is going to be the first company fast food company. To have technology in app ordering. The they they're came came out yesterday guess Wendy's is a close second but McDonald's stocks rallying on this news or 1% today McDonald's. Doing everything they can be and I think a lot of this started around the minimum wage debate. In any day and they looked at this said while we invest a billion dollar business it's gonna have a really good impact. Yeah it is and I do think this is what. Pretty much every restaurant at least on the fast food or fast casual side is going got to get away from employees within the next five years this is what everyone's going to be using. As one of their main ways of getting people into stores take you order before and then you just pick up whenever you come and actually pick it up. The one thing that's interesting. Is Starbucks had some problems with developing lines because things have gotten so popular on the online ordering front going to be interest and see how McDonald's managed. OK with that Smart they'll start off with kiosk ordering. Right get used to that what this is mobile those citizen before you're even there now so. From my perspective they're gonna have some growing pains they try to figure this out is rolling this out of 141000 restaurants and who is not going to be easy that is not something. That is logistically simple to do. Not only just the basics of actually getting it to where it is but then train people how to use it making sure that everyone understands how works. I know the biggest player and that's I I like that they're doing it because it. It is they're moving forward and not trying to stick in the past. Yes exactly so I. I like what they're doing. I like is better than the idea of delivery McDonald's I just don't see it being competitive at the price point they want to be yet. But I do think this makes a lot. Cents for the cost of burritos going up at chipotle Tucker yeah I almost attack you see them president's desk for meeting a burrito. There are 5% of something there increasing prices at 440. Of two police 2200 locations that point or are they trying to lose customers. And there's going to be costly and then they get around here Tucker get them sick now and I'll probably priced at about New York party try to keep your try to do business in New York City. Right where your rents are astronomical. I'll bet you. Where they're doing this there in the big cities New York San Francisco all the way down Boston did not raise in the price in New Haven, Connecticut. They're raising the price in the big cities with the rats are astronaut what about Needham. That's the solar I would utter I would imagine I needed you're gonna see costs going up for what they hang on the unsettled labor caught a labor issues you know the you know get tips at chipotle right so. It be you if you work in Tripoli in your competing for workers. They're gonna have to pay 1520 bucks an hour to get workers to vote. That's just days I'm seeing pretty consistently somewhere around you know thirteen fourteen a lot of fast food places we talked I tell you what mark my words here. Recreational marijuana that gets fully implemented and you have recreational marijuana in Massachusetts Rhode Island Maine. You're gonna see fast food workers they're going to be 20/20 five bucks an hour. Because they're going to be competing for the same workers. I'll see it going up a little while I'll believe when I see it I think Colorado look at Colorado I know but there's only when do we get out there right now. I think once every wonder lake it's kinda like casinos Colorado has enough demand is there supplying the entire western half of the country now okay. Eventually you don't need quite as much marijuana in Colorado because while we can grow their own so I think it's gonna kinda even out. Right now like again right now Colorado was pretty much what Ford is for oranges in the US they are. Marijuana is remembered none of the marijuana being sold in Massachusetts today is grown in Massachusetts. Troops on the recreational not very much numbers up next will be joined by our friend TR Reid he's the author of eight fine mess a global quest for a simpler. Fairer and more efficient tax system point would we all see that that's next from our insurer match dot com studio. The battle over the trump agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here with a battery in shock on the financial exchange radio network. As we age the state claiming an asset protection become the Paramount importance to maintaining a happy and successful lifestyle. Many families to go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful a nursing home stay can guide your financial wellbeing and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in the similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. A senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show I've come. 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 let's before for 99 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 walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. -- nine match insure a match works with the leading carriers in the industry like your 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 844 and 99 match or go online and ensure a -- -- Many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and constant come down solar incentives seem almost too good to be true yet if you -- -- alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with three power from the sun imagine free solar power creating our own clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement plan you take the state and federal tax income credits now when -- high income years then enjoy -- returns for the next twenty to thirty years don't put off investigating solar. The returns could be incredible call alternate energy right now at 8559120115. That's 8559120115. For a free experts solar analysis alternate energy has been serving new englanders for forty years Colvin today at 8559120115. Or visit them online at 800 DC solar dot com. Hi this is very Armstrong and I'm here to tell you about a new dental product that will make your next visit to the -- much more enjoyable -- on its dental jail is revolutionizing. The dental industry a recent double blind study at UC Irvine found that -- -- removes -- two and a half times better than the leading toothpaste for treating gingivitis once you start brushing with Libya on -- you'll never go back to regular toothpaste Leon X contains a powerful anti oxidant that makes your teeth and gums healthy and it's safe for people of all ages I started brushing with Libya -- -- twice today in my dentist told me he can already see the difference protect your oral health today by ordering Olivia on X -- now call 8559120300. Or order -- -- at best dental jailed dot com -- mining -- and -- get a 10% discount off your first purchase call 8559120300. Or visit best dental -- dot com to place your order that's best dental jail dot com. Barry Armstrong. Sharks on. Breaking business news every day right here on the financial exchange radio network. TR Reid is the author of a fine mess they global quest for a simpler fairer and more. Efficient tax system I think we'd all like that by TR how are you. I'd very good glad to have you aboard air hey how many total tax re rates are probably re right to our tax system. Have occurred in the past hundred years. Well we started the federal income tax in 1913. Days wrote a comprehensive code in 1922. And then all lobbyists came in and still there with exemptions and credits and allowances. So they throughout in 1954. And started over guess what next thirty years that got loaded up with exemptions and credits in 1986. They threw it out and started over. That every 32 years and that 32 years is up in 28 scenes at the time has come. We need an internal revenue code of 2018 that'll eliminate all those right awesome loopholes and then you can get much lower rates. Well gee that's music to my ears would give us some examples of the unnecessary tax loopholes that you observed today. I have seen in my book where the president says that congress here's my new idea. Let's send that check for 7500. Dollars and anybody who buys a 138000. Dollar BMW hybrid. We would never do that right give a tax breaks to rich people buying German cars. It's been there it's in the tax code it's supposed to encourage people to buy a hybrid cars and state gas but guess what. There's also a tax break for buying a recreational vehicle notorious tax guzzler we give tax breaks or. Planning sugar cane re planning a forest. Getting rid of old farm equipment hiring you Indian America and native Americans. Commuting by bicycle with only certain bicycles they're just hundreds of them in there and every time you add one then you have to raise the rate. To bring in the revenue you need it we should go the opposite we should get rid of all those giveaways. And then you could lower the rates and make the tax code much simpler. What in that's a big part of the problem right how many pages of regulations are in the US tax code. And then compare that to another civilized country. There's 73000. Pages and I tax code that I said that the commissioner of internal revenue. Anybody in the Ira has read the whole thing and he laughed they'll be good. In other countries it's much simpler because they've gotten rid of most of those breaks. Or filing your taxes is very simple American. Yeah an American family at the median income according spent about thirteen hours gathering the data instilling in the war. On average we spent 280 dollars on tax preparation. In Britain Germany Japan Netherlands. Take about fifteen minutes and cost nothing but you tax. Tom your preacher to the choir here but. You know when you look at the taxes it during my lifetime they've only gotten more complicated. Who's lobbying against tax simplification everything used describe makes a lot of sense to me but there's clearly a lot of opposition to it. Yeah well you know in the other countries it's very bad because government does the work they know all the numbers. And they go up before Liu and all you have to do is check and see if they got the numbers right there but by then that. And get flat. The as though it was all the numbers on the return almost every American family. They could fill out the form and we just say yeah that looks like to me. And when that was proposed in congress. H&R block lobbied against the tax software companies lobby against it so here's betrayed. You do the work they make more money. Now now let's say see these they and it's been that way for a long time TR. Long time. Yeah that's the way it spend that it every 32 years. We pick that we simple by the code we got lower rate. And the time has come to do it again. Now I hope you're right Tom thank you very much for your time we appreciate. Great to be with you very thank TR Reid author of find that it's a global quest for a simpler fairer and more efficient tax system. Then I I agree I think greeting you tax reform next year I'm not sure it's going to be any simpler. No it's if it's not to be as simple as I think we'd like it to be on you know that there's always the dream that hey all you do is you get you know one form you pretty much file the end of the year and you don't have to deal with anything. But as you said look the layers of complexity have grown and evolved over time it's not a situation where. You typically move towards a simpler system unfortunately it's something where you typically keep adding layers upon layers. As you go on and I do think that. Even if we do get some kind of tax reform in the next twelve months so it's not likely to make it too much easier for the average person. We're doing trivia today based on the Bay of Pigs invasion that took place 56 years ago this week. In which year did Fidel Castro seized power in Cuba are tech's number 68680. The prize for the first correct answer. Is he 25 dollar gas card in which year did Fidel Castro seized power in Cuba and again our text number is 6680. Chuck tell us about this crime video that was uploaded to FaceBook I guess it stayed on FaceBook for a few I didn't see. Did you get aside no libraries why I saw some links to but I I did not wanna watch apparently what happened was over the weekend. A guy decided that he was going to live stream. Just killing someone in cold blood. And walked up to man and apparently just shot him and and that was it then copied. I haven't thought the guys still he's still on the run they thought the data and track to while location in Philadelphia turns out it was bear that in Baltimore wasn't there that energy Cleveland now. But it wasn't this on FaceBook for quite awhile yet that's what's unbelievable about why they can't find him he recorded this often this mobile phone and pushed it through social media outlet. You can't find this guy now. What's. Yeah it and this is why a lot of advertisers are you nervous about live streaming is because if you just have. Every Jim and Jane out there doing whatever they want. You don't know what you're gonna get on a live stream necessarily FaceBook doesn't have the controls in place at the moment. To be able to prevent something like this from happening I go to really upset a lot of people listen who's up for three or four hours after the murder. I mean if you were sharing it sure it's just that it's it's absolutely terrible stuff I have no desire to watch it and it just shows that FaceBook still has a ways to go. To get this platform ready for prime time whether what. You know what would they do. But it showed they put on some kind of delayed but how much of the lake you can have someone watching every one's recording it all points. It it's not easy to figure out. And there's no content restrictions either you know there's there's no labeling okay this is a PG showed this once our rate you know it's just. Both of them wanted to have there you could have something. Reporter please units of the would want him out of imagination run wild on that that's the edge and it is with kids in theory you could have anything I mean keep in mind wouldn't that doesn't FaceBook say well if you do something like Hitler to you while he and the other thing bear we know there's a ton of exploits in different webcams and things like that where people can remotely turn them on. Would appear to sit around at home and almost until someone turns any webcam it's sort broadcasting it's your FaceBook account you don't even know. Really if this could be a problem for FaceBook and hopefully there's there's some issues with us. Oil prices are down four cents a barrel right now fifty to 61 when we come back we'll tell you why we think they might be headed upward that's next. From our insurer match dot com studio. You've got barrier and strong. Financial exchange. Shall look financial exchange radio network. 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Of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and costs have come down solar incentives seem almost too good to be true yet if you talk to alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with free power from the sun now imagine free solar power creating your own clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement plan you take the state and federal tax income credits now when your high income years and enjoy high returns for the next twenty to thirty years don't put off investigating solar the returns could be incredible call alternate energy right now at 8559120115. That's 8559120115. For a free experts solar analysis alternate energy has been serving new englanders for forty years called -- today at 8559120115. 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Many families to go through this process stink about transferring their home to their children to protect it from a nursing home if you're not careful a nursing home stay can judge your financial well being and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in the similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. A senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show done come. According to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know you're paying for your mutual funds to understand the difference between the the ongoing yearly fees and the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is very Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these fees so call now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange showed dot com to. Terry suffered the securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Armstrong yeah. Bringing you the best in business and financial news every day you. This is the financial exchange radio network. The CIA. Excuse me. Fidel Castro has been a concern to US policymakers since he seized power in Cuba with a revolution. In January of 1959. Winner on this question was Michael from Hanover Massachusetts Michael takes home 25 dollar gas card. As his prize in trivia today. Is brought to you by alternate energy investing in solar energy can save you thousands of dollars in your electric bill those dividends are not taxable. If you've thought about installing solar at your home or business call alternate energy for free estimate and or how slower can work for you. Call 8855. 9120115. Incident your free no obligation consultation today that 855912. 0115. There's reason to believe that oil prices are going to increase in the coming months let me explain the logic there. Last November OPEC at about ten other countries nonopec countries. Got together and they. Agreed to cut production of oil in an effort to raise the price they've been successful price of oil today is trading at about 52 dollars a barrel. At the time was trading at 39 dollars apparently believe his last summer we had 39 dollars in the year. Ever so briefly but it was a 39. In November they said we're gonna cut production they've had pretty good comply take the compliance on that has been about 90% down. They're meeting again in May with the objective being tapped to continue and expand. More oil conduct production cuts. Yeah a lot of chatter that this is going to be able to lie get through they're not gonna cut additional production would simply maintain the same cuts. For another six months probably in that's. You know long enough to hopefully in their eyes. Give the market time to continue to stabilize but uptight he continues to inventories grown just about every week at this point. Andy Seymour US rigs going up every week so you know you take a look at it. And it's kind of interesting to see just because there doesn't appear to be assigned to you getting any type of real resolution on supply and demand right now million adults and if it. You know be really curious to see is if they even cut production to a greater degree. I think that's going to be a tough putt for them to think the saudis would have to absorb more Britain. Want to. More than half of Americans think that marijuana use is socially expect except the widow. The poll conducted in March by Marist in partnership with the Yahoo! News surveyed 1122. US adults and found that 56%. Said using marijuana was socially acceptable. Compared with 42%. Who said it was socially unacceptable I bring this up because a lot of speculation. That Jeff Sessions the new attorney general. Will put the kibosh on states that have legalized both medical and recreational marijuana yeah I don't think he touches it with a tent but all it. Always been one of the things that he's wanted to go after you know he's he's always wanted to watch you know panic keep the other full court press on when it comes to on marijuana. But I think that's a losing battle to try to fight now I think Ibaka trump and Jared Kushner will career per prohibit. Penalty kill that they I think they'll instruct her father to not allow him to laughter it's. I impact I think it's a losing battle to try to fight against states that the numbers are analyzing it if you look at the millennial numbers on this issue which Ibaka is a millennial. You look at that and number young people the numbers are like 73. In young people do not want to see it made illegal yet sue the it's it's pretty amazing actually even on the Republican side of things up 63%. Of Republican millennial fever marijuana legalization. The quickest way. To may in enemy of the colonials to take away their drugs. Libby onyx that the gel pretty straightforward. They avionics that the gel is revolutionizing. The dental industry because it helps keep your teeth cleaned and your risk of gum disease low. In recent double blind study UC Irvine found Libby on X removes plaque two and a half times better. And the leading toothpaste for treating gingivitis trust me when I tell you it works and once you start brushing with Libya on X you'll never go back to regular toothpaste. Libya on X contains a powerful anti oxidant that make your teeth and gums healthy prevents bad breath. It is safe for people of all ages I started brushing with Libby onyx twice today. In my dentist told me that he can already see the difference protect your oral health. Byte ordering Libby onyx right now call 8559120300. That's 855. 9120300. Or order it online at best dental jailed dot com. Use my name Barry and get a 10% discount off your first purchase call 8559120300. Or visit best dental jail. Dot com to play shorter than its best dental jail dot com. We think happens in that Georgia house streaks that they're voting today. The other way this is the special election is special election in the Georgia's sixth district. And with the reason for this is Tom price the new secretary of health and human services came from this district so they have to were vote to replace him in that seat here. The waited this with the race is structured effectively is that if no candidate gets above 50% it goes to a runoff between the top two candidates can okay. What they allow you to do here though it's not just one Republican and one Democrat you've actually got that seventeen people that are in this race here. And what is projected to happen right now is that John arts of the Democrat. Has managed to gain a lot of support. From the Democrats at this point. He's probably gonna end up somewhere between forty and 50% of votes will likely end up in first place but not with enough to avoid the runoff. Most projections then showed that he ends up losing in a runoff this is a pretty reliably red district Tom prices historically won this district by anywhere between 25 and 35 points. Some signs point to. Republicans eventually winning this district. If our soft does not win. You in the the first round here and so today it's today yes it will note tonight pretty much what happens here. This district did however in the presidential election. Only go by 1% to Donald Trump which is a pretty strong reversal where it's been historically. You take a look at presidential elections and how it's performed. Over the last several mrs. Newt Gingrich's old and traditionally. It presidential elections this went 25 to 35% for Republicans only 1%. In the fall so it's more of a an establishment Republican stronghold then a Donald Trump Republican stronghold. That's going to be kinda interesting to see how things shake out here. Up next we're going to be joined by a former SEC. Official his name norm champ will be talking about the potential outcomes from Donald Trump's financial policy overhaul. That is next from our insurer match. Dot com studios like us on FaceBook and follow us on Twitter that's TSE show you. Breaking business news is always first right here on the financial exchange radio network. According to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know what you're paying for your mutual funds to understand the difference between the ongoing yearly fees and the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is Barry Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these fees so call now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and caution come down solar incentives seem almost too good to be true yet if you talk to alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with three power from the sun imagine tree solar power creating our own clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement plan you take the state and federal tax income credits now when your high income years and enjoy higher returns for the next twenty to thirty years don't put off investigating solar. The returns could be incredible call alternate energy right now at 8559120115. That's 8559120115. For a free expert solar analysis alternate energy has been serving new englanders for forty years call them today at 8559120115. 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Called today 844 and 99 match or go online and ensure a match dot com. Security suffered through securities America each member of finreg SIPC and advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. He's been your money and you're the moon. Right here at the financial exchange would Gerry Armstrong and chuck soda on the financial exchange radio network but. The financial sector has rallied significantly. Since November of 2016. Y well I think it's expected. The Donald Trump will largely deregulate the banks in the financial sector we're joined now by a former SEC official has named norm champ. Thanks covenant. Great guys thanks for having me. Yeah and enormous talk a little bit just about what your role was at the FCC first what do you overseeing what were you involved in an on a day to day basis sir Sussman. Five years at the SEC I spent the first two and a half years of as the deputy director of the examination program. They've had a few problems with Madoff and Stanford and missing thing you also know. We were trying to turn that berm around and make you more capable of finding problems with investment enters. Then I spent the second two and a half years as the director of the division of investment management. That's a division that makes the rules and give the guidance for the risky investment management industry in the United States. So mutual funds hedge funds private equity funds. Investment advisors anyone you can think of who's giving investment. It's changed DC on the outside during your time there because obviously you talk about the changes in how people of invested. And the move towards ETFs it slows the growth of robo advisors in the last couple years how did you have to adapt and how quickly were you able to adapt to those changes. So the biggest single thing we did was we established a group within our division of investment management. To look at that data that was coming into the SEC about investing so. They had not been making much use of data before the crisis one of the key accomplishments were able to achieve which they talk comic book going public. Is we got the SEC focused on analyzing the data that was coming in. So that we could spot trends in the changes in investing particularly for instance 2013 responded right away. That retail investors are putting a lot more money into alternative mutual funds mutual funds are trying to pursue hedge fund like Stratton. Well looking at that in specifically at the data one of the things I'm always amazed at is that a lot of the major. Reports that we get on the health of the economy were devised and started in the fifties and sixties you know we're still dealing with data. From kind of the post World War II era it doesn't seem like we've done a lot to modernize our collection methods. Totally true in fact in the case the SEC is you may know. Most forms are filed by public company's investment visors brokers are found in some and called Edgar you're getting that. It is a system that was stated yard in 1985. And it is not so not anymore not anymore. And they spend millions to keep it going but it doesn't allow the kind of analytics that even a very simple. Google database would allow also. It's it's tough now there weren't there have been a lot of improvements I think it is better but it's still a very challenged environment. Looking at the time that you were there one of the key implementations during this time was Dodd-Frank. On the first question that I have. Everyone has heard of Dodd-Frank at some point but what was the actual impact to the average consumer. Actually. So if you think about it's a great question and think about the actual impact of Dodd-Frank to the person in the street. Not a whole lot so really Dodd-Frank is a lot about. Government re establishing a financial stability oversight council putting all the regulators on a lot designated banks and so forth. Not a whole lot for the retail person there is this Consumer Financial Protection Bureau but. They also haven't done a whole lot for the average person it's really a lot of expansion of government that that is the main thing that Dodd-Frank did he needed to depress interest rates so for savers because I talked to bankers in the city. If there were limited on what they can buy to back up the CD. But remember that is really the Fed. And the office of the comptroller currency taking care mauled to raising capital levels of banks. And then depressing interest rates and that was really that's really fed and OCC. Not so much doctor at Frankfurt and now the other piece that though Dodd-Frank increased compliance cause for the bank and that's when you hear them on every earnings call complaining about there lack of return on capital to go hold too much apple and a lot more expensive and more regulators in my they've got more compliance people than they do loan officers needs Crusoe is one banker and I talk about this in my book going public one banker said. The business of banking cannot be compliance it have to be this. Well it and looking at the there's been a lot of chatter that Donald Trump is going to try to roll back Dodd-Frank either partially or fully. What do you think of that and are there any parts that should remain any parts. Should go so the first thing everyone has to remember is that. Dodd-Frank was passed with sixty votes by the Democrats in 2010 race that an affordable care. At sixty votes there briefly before obviously your senator you know passed away and Scott Brown can meant. So they're it's very hard you need sixty votes to go back and change a lot of those things I think it's going to be tough. However. Think the biggest thing that you see the administration focusing on. Is trying to undo some of the individual rules so I don't think it's going to be wholesale repeal. But Internet tax on the individuals in particular the president in Corning physically in this chair who most people expect will be confirmed in the next couple weeks here of the SEC. I think they're gonna focus on the rules that came out Dodd-Frank that discourage people from going rate we need IP o.s DNC's equipment. We need companies here the strength and depth of our markets is what makes this this economy though. And we can't have fewer IPOs. But he Devoe right after that they are if you last year the and you know and we're an overall from 2000 the average numbers way down we'll be 2000 after. I think you'll see him go right after that they already repealed or ruled the meat company six disclose if they've made payments for oil and gas resources. Doesn't mean do a shareholder value that was about politics right. They are governor of that rule I think that laughter a lot of others and try to get companies back. Continuing to look up at other rules the Department of Labor I believe it was last year right around this time I think it was may of last year. Came out with what they called the fiduciary rule effectively requiring any investment advisor handling retirement accounts. To operate on the fiduciary standard no one really knew what it meant even within a lot of firms. But there's some chatter that they may try to roll this back if not scrap the program entirely what are your thoughts on where things go there. So the president authority to lead the rule and asked for review of it this is one of these classic things with government where it sounds great write downs great future rate. The details are not great and do not help the average number one enforcement of it was turned over to planes class action trial. Department of Labor has no role in enforcing its propellers was a streak you weigh two planes. Because of that fear a class action lawsuit. We were already seen providers of retirement services pulled that. Not take on small. Limit the number of products rate because they were about in Sioux. That's not good receivers that's not good for investors I think the mystery if you read the rule it's going to be a tough climb but. Remember their a lot of lawsuits pending asking that it be struck down. I wouldn't be surprised if they drop their opposition inlet ports. Norm how do you build a regulatory framework it gives consumers protection but at the same time allows businesses to operate fairly. So at holy Grail so big question for it's a tough it's a tough question by it. Look the number one thing I would it is the very first things we got to get the government. To stop. Making people make bad so what is bigger government and to a polo well but boy it sure advertise the lottery like creed race. That is a regressive tax on Americans talk about the book but ten per New York low income New Yorkers. Spent about 10% of their income on line lottery ticket I can get much better return and tax free retirement account. So we need to make sure the government's stops some of this really bad policies like the lottery like the pre crisis wrong when they wanted to house. Casinos are right there but at least a casino scam competition. They pay about 85% at the taken literally is about half that the monopoly right. So I'd like to see government stop the harmful actions and of pre crisis that wonder on on home of an hour. Stop the harmful. And then let's move forward trying to do better with financial literacy group people try to educate them better builder owned. We do that they'll be much better equipment. Norm evils got a book that just came out last month in martz titled going public my adventures inside the SEC and how to prevent the next devastating crisis so wants to buy it when they do. That you go on Amazon or it's also a Barnes & Noble dot com and in all Barnes & Noble sports so it's it's out there and I dread. I wrote it speak as I thought that it would be valuable for people to see what it's like for a moment ago from private industries that Laura had been my whole career. And then spent five years in government long five years it's a long time it's it's a classic fish out of water story it's sort of an alternate universe there. And it thought it would be punitive both point out those things. But also on the people the SEC who were there to do public service and who do you protect our investments so I try to predict you know try to shield bounced picture of those two. Very good will norm thank you very much for joining us today we certainly appreciate it and your book again as you said is on sale Amazon as well as in any Barnes & Noble store. So once again if anyone is interested in picking that up you're doing a signing tonight clear yet do a signing in Boston tonight Nevada at the heart of the Boston and down. Do about a different signings and events or on the country's. You know and then on the road for awhile it got good reviews in the Wall Street Journal yesterday you asserted they wrote a very nice review. Yesterday and I really appreciate that also if people wanna catch a book signing you can go to norm champ dot com. And all the appearances are listed there. Be able norm I will say and the Dartmouth guys all miss you at the Harvard club we have not allowed. I'd be. Yep kicked out effectively if I went so. Again thank you very much for joining us today thanks Jeremy. Well thanks for tuning into the financial exchange today markets are down right now but you know what that can turn around between now and 4 o'clock. We'll be back tomorrow with another edition chalks up Tucker Silva and very Armstrong signing off from our insurer match dot constant.