May 1, 2017|
Full Show 5-1-17 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and shut sun out. You're exclusive look at business and financial news affecting your game your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks are. We woke up to a pleasant surprise this morning overnight congress decided that they would fund the government. And it's foreign funded through September 30 at 2017 hi everybody it's Berrian talked with you here on a Monday and the pleasant surprise you wake up it without the worry about the government shut down between now and the end of September. Yeah we do but we do appear to have a job bridge too well I get this through was the next five months and in Q. September here's obviously that's nice to see. At this point it does appear to have a kind of a mix of some different ideas in this budget here. No one really getting everything that they want to which is what you typically see. In budget deals here and especially the present. Yeah wanted to president wanted money for his wall he got not one dime it no no no provision for off funny any wall construction there. He did get about twelve and a half billion dollars you increase defense depending he had one at about thirty billion so we got. About 40% of what he asked for there and there's also the potential for a little bit more money coming if he. Does have a developed plan to go after places and there's another two and a half billion out there for him reads the IS side were you surprised about the two billion for the national institute of health I was. It's I I was shocked it's something that I was not expecting to see in there. That additional two billion dollars going to fund the national institute of health there even though is how you try out actually said he was gonna make cuts that. Right now I was a dead area so it's it's a little surprising to see that. There is some additional border security money going in about one point five billion. Mostly on not technology as well as repair some existing infrastructure there. And what you see here I think is is a fairly odd decent compromise as far as the budget when when I would get I think it's. Pretty decent budget to be honest did the thing that I find perplexing you specifically the package says explicitly. The money cannot be used to pay for construction of the border wall that mr. trump has made a signature project. A blow to the White House I mean I I was shocked when Byron I'm not too surprised your and a night I just I is the kind of thing that. And again I know that it was a central point of his campaign I just think that you're gonna have a heck of a time trying to get him by. US GDP. Slowed on tepid consumer spending this is a report that actually came out on Friday. But we have very anemic. Growth in Q1. Of 2017 point 7%. If it's a strange. Market because I think what's happened to his I think consumers are spending. But they're getting so much more efficient with their spending they're getting so much more for their dollar. Then they're going to ease again. Then it's the it's not showing up in GDP you know. I think it's probably true like I've gone through in just in the last six months or so. Approach can about 250 to 300 dollars a month out of my budget just because itself that you know I realized I am not using this like your whole loan failure why why would I spend money on it. And I think you're seeing a lot of people wake up and say. Look you know we've we've seen our parents spend all this money in the ninety's and things that you know ended up hurting them we've seen all the people that went in and borrowed all this money. I I think you're seeing somewhat of a wake up call when it comes to. How people go about spending their money now. Now and all cases OK we do know that for. Low income folks credit card debt and things like that continue to be a problem we still see people not having enough savings the bottom end of the spectrum. But I do think that through the middle class are starting to see people being a little bit more efficient with their spending. Tiger the one thing that I I keep track and this will tell you about the automobile business might be bad times you need a new car. May might be pretty good month to buy one car dealers are sitting on a 72. Day supply of vehicles. That's up from 66 days a year ago. So. Let's say your drive around a car it's got a 150000 miles on and you know it's on its last place. And where you get to the point where you need to buy new car is when the repairs. Become so expensive. You know you try to repair. Ten year old cards it's got a 150000 miles on it becomes a money pit. And that's the point where you say yourself in news summed up by new car like Antonia made a pretty good time to do it because the dealers are sitting on tons of inventory in the incentives that they're providing higher than anything we've seen. And he said it was about a 72 day back backlog they're so. You know typically dealers like this beach somewhere between about 55 and seventy days so you start getting over that is so what's a couple days when it's all said and done. Remember the way dealers and up financing this. They buy those cars up front from the manufactures they take out mortgages the buys those and they're paying interest on those cars every day they sit in their lot so. It's you know you say what's a couple of extra days when it's all said and done when you talk about the number dollars and while it's a lot of money to party. Yeah you go shop around you know go to a couple different dealers if you need new car but I I would suggest to you especially if you need sedan. If you're if you're driving an SUV or if you wanna drive an SUV or truck. You you're you're not gonna get much of a price break it if you need a four door sedan or compact car you're gonna get a pretty good price it in in by the way the that that global inventory that we have right now. Is the highest that we've seen in thirteen years is that right thirteen years this is according to weigh our report for Fox Business that was out about a month ago yeah. Do you know that only as a shock whenever this only 5%. Of the American public buys brand new cars. Which makes sense when you do the math for. I think the actual break and yet saying. 95% by used cars nobody say there's a water but take a look at car total car transactions and a year. You have seventeen million new card transactions you'll have probably a minute gas here. But I'll get that there's at least double in the number used car transactions oh yeah. Absolutely lot more used car transactions in new car transactions and you know seventeen million people buying new cars a year that that's relatives. I mean you you look at it right now and it's you've got 26270. Million vehicles that are on the road actually. What's interesting is that the average if you look at the yum. The average age of vehicle and increasing about 2% a year so we continue to be holding onto more cars longer. At this point right now. And so the average age of the fleet continues. To get older as well that's why when we talk about this side transition to either. Driver was vehicles or electric vehicles the number one thing I can back to. There's a relatively small percent of people that bind when Jeffrey Wright who even if all of them do it still takes so long to turn over. 1520 years no doubt they tied it to really get a full turn over yet. The Federal Reserve is meeting this week is actually our poll question today will they raise. Interest rates at their fed meeting this week I don't think that night I voted no are if you wanna vote in our poll you have financial exchange showed dot com. What are you thoughts. Smart money's on no right now while fed futures are pricing in a 95%. Chance that rates day. In exactly where they are in this is up from about a 93% chance a month ago. You go out to the June numbers and that's where it starts to get a little bit interesting here is that June right now pricing in about a 67%. Chance of a height. I think the last couple numbers that need to come in before then. And this can be on June 14 you've got April. Job numbers coming out later this week in and left may once before them so those the two things that I think the Fed's waiting on but it does appear. That we're starting to get towards all systems go. For June 14 being the next tight here. Yahoo! lately he said let's say my number 63% yes 67 I at 67 right now yeah we are 63 last week so that's where we came from my we are 58 a month ago with a ten year. The ten year treasury right now. The new treasury today is at 2.3. Percent and now it's come down. Those that with 268. I don't know if we were that high recently we are kind of stuck in at 240 range for awhile although we got to eat take take a look at the chart a big news at least 258. Within the last 120 days. That I only see one day above 250. And now it's yeah I'm going back to the beginning of this year we've been above 250 for 123. Days last year than we yeah I was like what in the last fall I know we got up there. But we've been pretty much kind of in this 235. To 45 range for awhile now except for last week. We did dip down below there rot about 218 on the team of. April that was before the French elections it's exactly right exactly. Are eight we're only talking about out. Donald Trump and how his ratings are if you if you look at the presidential race you see a lot written about over the weed weekend. In terms of his approval ratings in one night they're very well. With it according to Gallup and Rasmus and all the polls say that you know the approval rating is very weak. What matters is how's he doing in places like Pennsylvania and we're being joined by Chris Mayer from the Wall Street Journal. Talking about how Donald Trump is perceived in steel country specifically. In Pennsylvania that's very surprised everybody at 41. Will be talking about that next when we return from our insurer match dot com studios. Like us on FaceBook and follow us on Twitter that's TFC show. Breaking business news is always first right here on the financial exchange radio network. If you've worked hard for the past twenty years and enjoy healthy savings account you're in a solid position to enjoy later life hi this is very Armstrong saving money for your retirement is half the battle making sure you leave it to the right people is the other half beneficiary designations are not an afterthought while most people try not to think about what happens after they die it's important to set up beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designations because believe it or not there can be complications call now to get your free guide understanding traditional higher rate beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website financial exchange showed dot com. Security suffered the securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are unaffiliated. Hi this is very Armstrong and I've been telling you for awhile about Libya onyx dental gel it's a new product that is making huge waves in the dental industry because it's been proven to reduce plaque and the risk of gum disease I started brushing with Libby -- about a month ago and my dentist tells me he can already see a major difference Libya on -- dental gel uses the safest healthiest ingredients to clean teeth he gives you close to a professional cleaning every day without the harsh abrasives in ordinary toothpaste that can be harmful it tastes great and it keeps my breath fresh all day long take better care of your teeth in order Libya -- today by calling 88448789423. At 8448789423. Or you can order online at best dental jailed dot com when you order use my name Barry and you get a special 10% discount off of your first purchase that number again is 8448789423. Or visit best dental gel dot com Perry are strong here and I'm joined by. Who's a vice president at leader banking were talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. With what is your message to the young couple hours just somebody's out there looking to. Purchase their first time home. Yes so you know for first time homebuyers what we are telling them are a couple things one. Be patient yes you know we we see a lot of first time homebuyers who are making five and fifteen offers some two for finding out now and offers except it's extremely. Okay. Until they have to temper their expectations. Oftentimes you're they're paying more than the other half to. Paying more than the asking price and a new ads is quite common right now in and in some cases are actually having to to research other towns rooted in. Considered first because. You know it's very campaign can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to Tulsa but this leaders thirty yes who we are really excited about this product we just launched its cult leader thirty. And essentially what it is is the fixed rate loan him. Where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest repayments by one person that's very helpful offer because what it does is it gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of the fixed rate mortgage. When I bought. A home and when I've refinance my properties have always used leader bank near terrific bank you can call them told free. It's 8776917. B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917. To 900 liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America each member of finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's our daily poll question had financial exchange showed does John. Vote your conscience there hard just vote go to financial exchange Joseph does come and test the way. This segment of the financial exchanges brought you by legal bank with leader. Zuma rewards account get 1% cash back with a debit card purchases in an extra 10% back when you use your card featured businesses. To qualify for these and other rewards call leader bank at 8776917. B 900 that's 877691. 7900. We're joined now by Chris Mayer from the Wall Street Journal. Talking about how Donald Trump is doing in steel town. I Chris are you. I could it be yes where is my nests in Pennsylvania. The left in the is that. Thirty mile south of Pittsburgh and it's been an area called Mon valley which is. Named for the may not be a hooker and that there's a whole string of former steel just as they used to be. We used to be one of the biggest human lecturing. In that entire world one point. Right now it's not too far away from West Virginia which is big coal country two right. Sure yeah and yet that Colin on the street you know we're both went ahead and and an aunt or your ears now you know you. The Wall Street Journal has published a lot in terms of approval ratings for Donald Trump and they don't look very pretty during the first hundred days but how's he doing in Pennsylvania and in steel Tata steel country in coal country. Yet the against the Hartley at all. The president at a at what percent disapproval rating at forty approval rating. A pretty Mick and our. Undoubtedly net and that. You know I was pretty mixed reviews from many people although I would say there are some people who are very supportive of the president bill and you know they're back and wholeheartedly the president actually the child actually. It was a candidate last summer went in the net and spoke in an aluminum recycling. Facility. And spoke directly about it was bring back and that that caught the attention of many people. And many of the voters that are there you know they didn't think former President Obama know. Our administrations of either party I mean I've done much he'll. Entrance Tryon right he's he's talking about limiting imports of aluminum and steel from foreign countries. Yet it is getting credit for trying for sure. One or do you know who whole heartedly back bill he you know doesn't play in the present some of these early. I'm older when things stalled immigration policies more. How you're feeling now this sort of particular was born in the court then and Democrat and others hurt you know outlook doesn't turn them. How much time busy these days to turn that around or can he turn it. That the very question I mean we were talking about steel jobs mean. These areas like that and a decade and that is. Listen and assessment or lack of and there trying to pick and you know I spoke to some. Economic development people down there. And they were saying the can't just turn and yours and you really can't bring back the old type of deal factories. Without. People just also included is now announced plans to appoint your people. So there's going to be pretty tough and it will take time. But he can't stop the dumping right Egan stopped China from dumping steel in the US. Yeah so when it comes this deal dumping you that is something. The administration and while actual for sure and the president just. Had a memorandum where the and now having the Commerce Department investigate whether cheap steel imports are affecting national security or could there. So that is definitely an area urging other network certainly can limit cheaper steeler steeler dumped back. Although the cost to produce some. Well anyway after that and yet he went after Canada on Milken timber right so what's stopping them from both worst the worst most the dumping coming from China. Well actually my understanding is that there's. Pretty good controls when it comes to China directly then and that imports and China a feel of increase in years. But one of the problem is that the inexpensive you know trying to boost other country in other products by. He'll pipe for instance he and those I you know get imported from Korea after he other countries three. The comment the United States and still got that lol lol right because. You know they awful period during the and you know traveling around the world and they'll be cheaper than steal a series. Produced domestic. That I would imagine those communities that suffered a pretty rapid decline in population have enough. They had gotten that if he were known as important that you. And still going really well. While the sixties you the history. Everyone I talk to burn out about all that department stores. Butcher shop. You think and when you walk on the street now. I agree. Most of our sponsor of either open windows or quarter or. You know these buildings just waiting to be demolished and hopefully they'll. You know it's hard to imagine how they're gonna come back in I dig in in some instances they're just not coming unity you're just. Whose jobs have moved to the city and in Pittsburgh's doing pretty well Philadelphia's you know you ever seems to be moved and out of those types of towns in the big cities. Yeah there's an influx in the Pittsburgh district spent a great job of reinventing itself as. Technology and help there. And in a university now completely cool and Wilbur. Creating jobs here and attracting younger people. You know even some people on the outer. Ring suburbs are you know forms of the other struggling and those other lane. You better have an education if you wanna go to work for over radio be an engineer. True yeah although I mean. I'm like you know that they're gonna need manufacturing and you know it those. I don't know he's got a sister in it is. Cars stopped them because ghost people. You're gonna meet people seem to work on those. When people and vocational schools and you know trained technician and and you will create jobs for them. What do those volvos they're driving in Pittsburgh Chris. I don't think there's almost no I'm not sure vodka. Thanks for your story we appreciate it. Sure Banco Chris Mayer. Via Wall Street Journal and you know I think you'd be unreasonable to expect those sudden you have. Steel mills opening after a hundred days in office no I mean it's just a two quick turnaround but I continue to remain skeptical that you're going to see. You know widespread raw material you know refining and things like that coming back I could see with the vehicle manufacturing coming back I understand but what about the issue of national defense and he he mentioned Chris mentioned that you know. If we're not making our own aluminum and we're not making steel and we get into a military conflict. We got a problem. My my question to you is do you really think that you wouldn't be able to figure that out in the event that that happened I mean it's it's again these are that's the art that's one of the many arguments that have. You'll raw materials. Supplied from within the United States are very least Canada you know being able. To be darn sure you can get what you need to build your bombs in your bombers in years submarines and everything else. But no doubt about it but I also think you don't want to burden. Euro people with additional cost just for the sake of doing so now. The ups effectively if you do that it's it's defective tax on your own people that is if you're doing to Japan high something in that direction. I've always said look. If if candidate wants to lose money on their lumber Saudi Arabia wants to lose money on their oil well they did that for a long time then let them do it night if that can shoot themselves in the foot well they and that went on for a long time. Right where we could buy oil from Saudi Arabia for ten bucks a barrel could produce and write to barrel. Right and we bought it for twenty years peppers right which is Smart I guess but boy Richard a lot of damage toward domestic energy policy to. Are coming up we've got trivia for you and then. What does Warren Buffett gonna do with ED six. Billion dollars in cash that's next for march or match dot com. Making your Smartphone even smarter. Download. Lab like searching financial exchange killed in nineteen Jordan who who placed door. The financially streams radio network. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent day -- -- leader banks all mine rent collection tool he went automatically deducts tendons went and deposited into your account visit www. 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If you've worked hard for the past twenty years and enjoy a healthy savings account your and a solid position to enjoy later life hi this is very Armstrong saving money for your retirement is half the battle making sure you leave it to the right people is the other half beneficiary designations are not an afterthought while most people try not to think about what happens after they die it's important to set up beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designations because believe it or not there can be complications call now to get your free guide understanding traditional higher grade beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website financial exchange showed dot com. 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Like that is making huge waves in the dental industry because it's been proven to reduce plaque and the risk of gum disease I started brushing with Libby talks about a month ago and my dentist tells me he can already see a major difference Libya on -- -- gel uses the safest healthiest ingredients to clean teeth he gives you close to a professional cleaning every day without the harsh abrasives in ordinary toothpaste that can be harmful it tastes great and it keeps my breath fresh all day long take better care of your teeth in order -- onyx today by calling 8448789423. That's 8448789423. Or you can order online at best dental jail dot com when you order use my name Barry and you get a special 10% discount off of your first purchase that number again is 8448789423. Or visit best dental gel dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. 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Oh yeah so my assistant DJ and he put together Steinfeld trivia force that great. Comedian Jerry signed felt turned 63 years old this past weekend were doing trivia questions about the sitcom sign held which I never watched that that's okay. What was the title of the pilot episode of Steinfeld our text number is 68680. First listener with the correct answer to that question wins in 25 dollar gas card. What was the title of this pilot episode of Steinfeld. And again the text number here is 68680. Toppled. Warren Buffett sitting on a lot of cash these days with the can do but get. 86 billion dollars in cash at this point to obviously it's a big chunk of change. Hasn't made a big deal since his big one for Precision Castparts with that three years ago now and somewhere in that ballpark. So he's he's out there and and we know the Warren Buffett. Is always interested in companies. They have a competitive advantage that they can protect overtime he wants companies with a moat around them so that they are able to be defended against competition that they have something unique about their business. And obviously he's out there will pursue. Is it too expensive is that a big NIC warrants in on them like cash and say to myself. Market must be too expensive because here's a guy he's a value investor famous value investor. What are the problems he has is he can't take some like he can buy a and he he he has so much cash when he takes a position in the company. He can distort the value. On an and I think that's part of the issue is that it used to be you know when Buffy was starting out. If you had a billion dollars to go and by billion dollar company and say okay can grow this for a billion dollar company up two with twenty billion dollar company and that's how gimme my money on this. Unfortunately when you start getting up to companies that are worth 304050. Billion. It's tough to do that's tougher to find and use the same advantages. That you could as a smaller investors so I think part of it. Is there are less large cap companies. That are available to him that might potentially make sense there. And you know I'll be curious to see how long he sits on this cast has obviously we know we can be patient. Now we penny deal because that hurts his performance EE if you're holding that much cash. That's dragging you down so he's got his annual meeting coming up on Saturday. What does he say to shareholders on 86 billion dollars in cash like why do you give Warren Buffett your money if he's gonna sit up. Yeah I mean I obviously that's that's something that factors in there on the Buffett has you know at times sat on cash for extended periods of time. Prior to the precision Casper and he'll most of the tenth the most cash and it is but I mean you factor in inflation and invest in the growth that you know the nature of the beast like you're never gonna have less cash we never want to have less cash than you did twenty years ago it also possible he buys Costco palm. It's it's a company that I know was intrigued him just because. It kinda fits with his mold of having some. Barriers to entry but I'm curious with Amazon starting to try to tap into that market if he wants to go down that road. You know what he likes about cost goes people paid membership. Yet nothing even the BJ's Costco had this brilliant business. You pay a hundred bucks a year whatever the membership the news right. And woody yet we get the right to go engine shop and and and and people are cult in the way they hope very much agree there are right I've got. An employee whose husband goes to Costco to three times a week. Costco it's it is the cross bit of retailers it's just like people they they they just brainwashed you imparted that your brain wash because it's such a good retail they have great products at great prices. And that's what they do so you know that type of company is the kind that both would be interested in. You know he's he's always wanted companies have some kind of protection and some kind of Mo and I just wonder that motives enough there why it would it would I am as we're about buying Costco and BJ's combine. You buy BJ's for a song. By billion dollars to be in theory you might be able to BJ so regional I don't know that really gets it went qualities that. Yeah I mean I guess you could see that. I don't know what kind of extra savings to get from doing it necessarily mean they're two pretty similar companies. Hey you know if it's the type of acquisition that could make sense there. I don't know if that's necessarily what he wants. Its own I don't know about why he Nike's the other one being kicked around by. I'm just days I've just telling with the rumored yet and Nike and I just don't. It's a very strong brand. Now that we know that Warren Buffett is attracted strong Bryant he's always like them. Because it's something that you can't replaced why he still won't Coca poll after all these like it was Jordan's Furniture it's you know those brands you can't replace and Nike makes sense from that perspective. Apparel not necessarily the most bulletproof market though I mean. In the broad scheme of things Nike is not been around that long you're talking about a company that really as a thirty year track record. It's not like they've been around since 1920s in Amazon is doing things to get into the business and a bigger wave that you you pooh poohed that camera. That they're putting on the Alexa device. But that whole thing is about creepiest thing ever. Don't bet that tow truck you're gonna be buying suits that we couple years I won't beat you stand in front of that camera in your underwear. Bill's size of the suit for into being ignored two days in the in the picture will be on the front page of the New York time days later. You worry too much you believe you know someone has to because otherwise everyone's going out and shop at target don't lower your credit card information safe no it's non that's the that's the logical. Behind that camera oh I don't need to borrow hoping that enough people are dumb enough to buy the we'll be not this guy you don't think you'll be buying your close though. Oh oh here's the thing we've all gotten into such a rush he owns the one thing I absolutely despise is going to post hate. We've had such a rush that we don't know why do our free time at this point we sit home on FaceBook wondering why everyone else having so much fun now and really know what's actually having any fun because everyone's just look at FaceBook the entire time. This is like what else we have it go and shop for clothes there's nothing else that you have to do and I I just don't like an average closed up. But usually dress the way. I of people ask me that people it but it didn't they bite stuff but it doesn't it. What does it buys things as well lose by problems. You know you always by five pounds heavier you have a few worrying about how your closet and fit and how are you gonna do selects a camera because these the big picture and everything but the custom but if you go out in by the close and you already know what fits you know paper customization. No and I don't know. Hey I want to talk to you a little bit about this or I used ordinary toothpaste paced for years. 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Our were just talking about what app are what Warren Buffett's gonna do with his cash. 86 billion dollar who's got more cash than Warren Buffett apple ski area of the city Steve Jobs Tim Cook sitting on 250. Billion with a B cache. 246 point 09 billion to be exact 90% of that is outside the US right now lodge because obviously they don't pay 35% tax and bring it back into the US here they have more cash than a lot of government most. Yet it in the last this is what's amazing about in the last three months of 2016 and they've brought in in terms of net cash flow. Three point six million dollars per hour. Three point six million dollars per hour through talking about a company that profits bringing about a hundred million dollars a day in free cash flow profit. It's just money that goes in and it doesn't go anywhere the windows phones so what is apple going to do with this honestly. You know there's there's been chatter that they may try to make some acquisitions obviously we've talked we've heard about Netflix we've heard about Tesla is that can tell this is the first we talk about that. I don't think Tesla happens I don't think Elon Musk wants anything to do with selling that company after just brought everything under that was you put Tesla. We've put you on mosque. With Tim Cook. And you haven't unstoppable team no doubt about it because at this he EU and us is as creative as Steve Jobs yes it in and I think that's been the one thing missing from apple. The question is would Tim Cook pay a premium on a fifty billion dollar company to bring you on mosque and that's. That's that's what you're effectively doing you're saying I'm gonna pay sixty billion dollars. To get myself you on moss with no guarantee that he might just pop out after two or three units and wanna go somewhere else and you'd time now for. So I I I look at it and get so what do you think Netflix and I don't think at I would paid a premium on apple either with that seven need those it's. Let's see you Netflix right now is. 67 Billingsley April I gotta pay about eighty. To get Netflix fought. I just think it's cheaper even if he spent three billion dollars a year to develop your own content is still cheaper than spending seventy billion on Netflix just for the sake of buying Netflix so Amazon's proven matter that right so it was an Amazon Amazon is filled with content they'd get paid content. I was really critical of Amazon a year or two ago. Yeah at saint they got a good job there if I still watch Netflix more that I like Amazon but I find myself. Periodically watch and threw some names on its special Illinois now where I see you've got better worst. Doctor owners you know I ever would says you know Apple's got all this cash I think all that they had to do they boost the dividend in their buyback just keep things moving there and I think they've got enough. I think you're probably gonna continue to look for smaller areas to get into I think. Smart home is an area where I think they wanna get a little bit heavier present that wouldn't be surprised they try to make some acquisitions on that side of things but not to pay fifty billion dollars. For Smart home company. But they're pretty far become behind me. They are somewhat I mean it's it's. Quick enough it's easy enough to catch up there with their team of engineers if they wanted to mom. But I I just kind of I don't see them making that beat splashy acquisition is whenever you have when they have not they'd be your right they love to develop from within but there's so tunnel vision that they don't do enough widespread development but both of those would to me. Would make sense to invite as it and I think. If I had to pick between 2 if I am looking to buy an executive to I want Reed Hastings or do I want. You on much on I take my money and attitude is content you can develop on your own you hire but producers and I like who directors they figure it out. Trying to get someone with you on mosques skill set and his intellect Reed Hastings a Smart guy. Even Reed Hastings told that he's no wheels on in you wanna get that connected house rate was letting you loans due solar roofing and everything else that gets you right into the house as well as vehicle and everything the charging like that's. That I think if from that perspective it makes sense I just don't know if you pay money an apple people are the same the people that buy apple devices can afford to buying. You on mosques. Too it makes sense from all of those perspectives I just I can't get past that I'll wake. You're paying sixty billion dollars for company to lose money that's. That's deep. It's deep I think it. It is it is I if I I I love our money so I don't know what's it like I I love the idea I just the price is steep all right coming up we'll have the answer to our trivia question. Along with Adam McCall from Morningstar grab a pencil and paper we've got to stock to share with you. When we return from our insurer match dot com studio. The battle over the trump agenda continues to affect the markets 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. Hi this is very Armstrong planning for later in life is a definite challenge there are a lot of factors that come into play especially when it comes to protecting your assets creating a trust can be an essential step to helping you through this process but what type of trust do you need given how many of them there are out there the law firm Cushing and Dolan are experts an elder law a state planning and asset protection and this month they've got a brand new guide called deep mystifying trusts which will offer you a roadmap as to the different types of trusts that exists and help you to figure out which one is rate for you in your family called right now to request this free guided 8668485699. That's 8668485699. You can also download it right now by logging on to legal exchange showed dot com don't leave your family's estate and assets at risk call now for this free guide demystify and trust 8668485699. That's 8668485699. Or get it right now by visiting legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's say for four and 99 match many of our listeners don't know home then one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match were true the leading carriers in the industry Mike Rabelo Plymouth rock and more their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Very Armstrong here and I'm joined today by estate planning attorney Todd lots from the law firm of Cushing in Dolan and Todd this is another question that I get quite frequently. Do you lose control. If you transfer your assets to an irrevocable trust in an effort to protect them. From a nursing home were other expenses related to long term care. And you know very that this is a great question because again it's why we're giving away this deep mystifying trust guy because there's many kinds of irrevocable trust right. Not just an irrevocable trust has laid out in the question. If you do the irrevocable life insurance trust that's more restrictive but these irrevocable Medicaid trusts no. You don't give up control so it's important to understand the difference and what kind of irrevocable trust you're dealing with but with the irrevocable Medicaid trusts you are able to continue to let's say like leaving your house when you put it in there if I put stocks in there and I still get the dividends you get the interest you get that given you can even manage the money you can call your broker and say help me what might buy sell decisions so it doesn't sound like I'm losing much control at all not at all you get the income paid right out to you and you don't even pay higher taxes. These irrevocable trusts are designed in a way that all the income dividends the interest that you speak of will simply sending congress on your return is at that grant or language to grant or trust yet that's what the when you hear that a lot times it's called a grand tour trust. That's what makes that income taxable to you. So don't really loss of control and no adverse income tax consequences side the estate planning expert to Cushing and old have been helping families just like cures for more than thirty years. And they've written a brand new guy called. That will help you determine what type of trust is right for you and your family. 8668485699. Download it right now it legal exchange showed dot com or call poll pre. 8668485699. Barry Armstrong. Chunks Otto. Breaking business news every day right here on the financial exchange radio network. This sign fail. Chronicles was the pilot episode of the sitcom signed felt which first aired on NBC on July 5. 1989. The winner on this question was built from. Force they'll build us taking on the 25 dollar gas card. As his prize today in trivia is brought to you by alternate energy investing in solar energy. Can save you thousands of dollars in 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 or counselor can work for you call 855. 9120115. Instead of your three. No obligation consultation today that 855. 912011. Adam a cult for Morningstar joins us we're gonna talk about an ETF here what is typically mutual fund Monday but will talk ET apps as well and Adam picked you for joining us. But certainly check later and we're doing while we're talking here about if I'm reading it right the what shares trust you talk a little bit about what this actually owns. Yes this is fronted. One for morningstar's net that's what are equally dividend ET FQ media. And with this one doesn't tilt towards higher dividend paying stock but also screens for prop abilities and avoid the risk of chasing higher yields. So for example this fund avoided ConocoPhillips last January when that stock at its dividend. That's what that is tries to Woodstock that may be at risk of cutting their dividends or not he'll look at their dividends in the future. So they are holding such as this it's it's intended to get you some stock exposure but with some additional income compared to just nest and 500. Correct yes so it lands and large cap value. Style box the Morningstar and that this on yield of about three and a half percent which is 20% higher than that category average so it will tilt towards. Higher yielding name is but again tries to screen out for profitability to avoid both companies that make Cutler did in the future. What kind of volatility doesn't have compared to law it's it appears as it is it kind of in line or did they protect a little bit on that side too. Yeah yeah yeah it's it's it's been in line with years I was there the one thing that it does that little bit unique is that it is. Limit the sector exposure that it has been up for example. Consumer staples and utilities sectors usually have higher dividend paying stocks and so this on my to avoid betting on sectors and to target higher yielding stocks the little. It'll limited sector exposures to plus or minus 5% of the index. OK suit so it's relatively tight to the index from sector perspective what's it cost. For an investor to own the CTO. Yes so the the but chargers 37 basis points per year. And if you knock on a bill that it's relatively new to this on launch in December 2012 sort of the very short life track record but. From its inception through the end of April it's performed very well. Any of their small mach I is that you day a optimizer to create its portfolio you don't really know it's gonna shake out. Every quarter but you know it does have some limits and in place to reduce the risk that is a positive for the fund. We'll kind of turn over is there in this fund is there any word from capital gains perspective or anything like that. But the great questions so it is limited to 25%. Turnover per reconstitution and reconstitute every quarter so in theory that popped to be 100% but at the same time it needs yet though. It is able to use that in kind redemption process to avoid paying capital gains and so are not in the capital gains on. On a tired and over portfolio largely thanks to the vehicle was the strategy employed. And we see this kind of fitting in just as a core. Core equity holding someone's portfolio. Yeah you know I would I would really say that it it it fund for investors that are looking for a little bit higher yielding fund that also are wary you know. Funds only target the highest yielding stocks is this one has. The risk navigators in place to avoid those stock and cut their dividends in the future. Or good will out of thank you very much for joining us today we appreciate it. Revenue at ought. You two at a McAuliffe for Morningstar the fund is deflect shares quality dividend ETF ticker on it if you want to look it up on your own its QD EF word to use. This to me if if you're someone who's approaching retirement NAND naval and try to generate a little bit more income from some equity positions but you still want an ATF and not individual stocks. That's that that's where this kind of fits in from my perspective could you reinvest that dividend cut out is that we're taking it right away. It is utterly. Let's say your 57 in you know you're not retiring till you're 65 C your ears out yup he just by that. The routing your portfolio reinvested dividend. And then. When you retire you could start taking the dividend out it's just start taking that out there pretty much could go the Dow is up 21 point CS and 29. That's at some point. Thanks for tuning in to this hour of the financial exchange its trucks not a talker Silva and very Armstrong from. Our insurer match dot com studio. If you worked hard for the past twenty years and enjoy healthy savings account -- solid position to enjoy later life hi this is very Armstrong saving money for your retirement is half the battle making sure you leave it to the right people is the other half beneficiary designations are not an afterthought while most people try not to think about what happens after they die it's important to set up beneficiaries properly to ensure you protect your wealth might firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designations because believe it or not there can be complications call now to get your free guide understanding traditional hiring a beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Emirates the SE equal housing lender and the lowest number 449250. Subject credit approval leader back a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing team for additional information call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender stimulus number 449250. Subjective credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan 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 paid for for 99 match many of our listeners don't know home in one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well also dig out all the discounts preferred customers lake you can qualify for call insure a match to compare multiple rates in carriers at 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Call today 844 and 99 match or go online. Fisheries truck I assume. That we should all be naming our spouse as the primary beneficiary of our individual retirement accounts and four Irwin case yet generally that's what we recommend and in the case of 401 k.s are actually required to name your spouse. As the beneficiary there so in general. Spouses are gonna typically be the first person that you name as a beneficiary on any retirement plan it simply makes things the cleanest and easiest approach of treating happens to how has treated chuck if your wife inherits your IRA. Did she have to start taking the money out right away how how's that investment treated once she receives no this is why we say it's the easiest and cleanest because of a spouse dies and other spouse inherits an IRA or 41 K they don't have to start taking any distributions right away unless they're already over the age where they have to take them at seventy and have to begin right. And so you named your spouses and hiring who beat typically name is a subsequent her successor that picture Lotta times what you do that you name one of the kids or both or all three however many kids you have and they'll be named as the contingent beneficiary. In the event that your spouse is pre deceased he's so it's spouse as the primary and then any children as the contingent. Very get. Folks we would suggest that you call in and learn about understanding traditional hiring beneficiary designations. It's important to know who should be the beneficiary of your individual retirement account. Call 803934. Zeros or one or download the guide it and it to exchange showed dot com it's a total freefall call 800. 3934001. Or as I said I need to exchange showed dot. Com securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone toward diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value. Leader back a step ahead of state -- asset protection planning can be overwhelming where do you start and how do you know what type of trust is right for you and your family hi this is very Armstrong and with numerous types of -- available a state planning can certainly be confusing do you need to -- global or an irrevocable trust -- what's the difference between the two should you consider a special needs trust her life insurance trust what the tax implications of each type of trust pushing and -- an expert in elder law and state planning has prepared a brand new guide called. 8668485699. That's 86684856990. Can also download it right now by logging on to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing home all the same time call now for your free -- 8668485699. Or get it right now -- legal exchange show dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank the Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by the leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number four corner and you find zero subject current approval leader bank a step ahead. Hi this is very Armstrong and I've been telling you for awhile about Libya onyx dental gel it's a new product. Like that is making huge waves in the dental industry because it's been proven to reduce plaque and the risk of gum disease I started brushing with Libby talks about a month ago and my dentist tells me he can already see a major difference Libya on accidental gel uses the safest healthiest ingredients to clean teeth he gives you close to a professional cleaning every day without the harsh abrasives in ordinary toothpaste that can be harmful it tastes great and it keeps my breath fresh all day long take better care of your teeth and order live avionics today by calling 8448789423. That's 8448789423. Or you can order online at best dental jailed dot com when you order to use my name Barry and you get a special 10% discount off of your first purchase that number again is 8448789423. Or visit best dental gel dot com. This is the financial exchange with Barry Armstrong and showed sound. Your exclusive look at business and financial news affecting your day your city your world. Stay informed and today about economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and sharks. Here. Are two markets that are moving in tandem. The stock market and the housing mark and never seen anything quite like the Dow is up 44 points the nasdaq's up 31. Crude oil is actually down today crude was trading down 59 cents for everybody it's very and shock and everything is getting more expensive. Yeah I mean you're you're pretty much seen across the board today all major indices up. Couple sectors down utilities and Telecom selling off a little bit so little bit of a move away from mom risk off assets towards riskier assets here. But in general tenure treasury rhetoric 2.3 percent right now. Euro is about a dollar nine. Gold today just pulled up a handle on that gold right now 1266. Oil 4065. On the US on number in 5129. On the Brent. You know one of the key economic statistics that you could look up. Is household formation I don't know do you DB to new look up household formations they during the last ten years forced by your. See this number struck me I actually got this report on Friday and Internet time to share with you. Some 854000. New home owner households were formed during the first three months of this year what you just let that sink in. 854000. New house owner home owner can be Condo or house. Were formed in three months. If you go back to 2009. And ten I think your number for the entire year in those years ago there was one year it was negative. Where you were you had negative household formation but then he was like Ford Five Hundred thousand here was. Yeah I'm a pull up the numbers now I tend to look at it on a percentage basis just to account for. Any changes in you know population and so forth then and what you see is historically. That the type of growth that you saw in a healthy market it'll be kind of that 0305. Range before things got really naughty from 05 to 070 okay. You're seeing new household formation that 1% a year that's the kind of growth that you were seen. Now after the crisis okay immediately after it and we did down we saw a couple years that couple on negative points in there. Even in what that means if it's negative. That means people. Are moving out of their Condo they're moving out of their apartment they're moving out of their house and where they go and they're all back deliver their parents yet at those occur and so what you saw then is even factoring in this is comp combined renters and buyers. New household formation from pretty much 2009 to fourteen with about 500000 a year so very very well okay that's combined renters and buyers today combined and he said okay. Were about one point two millions of seeking in the commercial from the in the first three months right exactly that's. They think if I just got to put that in perspective that's it if it's a pretty shocking number there is historically kinda look at the numbers from 74 defeat stir about the percentages and from 74 to kind of one to about one point two million was kinda average on a yearly basis one point 21 point five million households is what you wanted to see there. Just prior to the financial crisis you wanna know how we got in such bad shape. We're running just too much who we are like everybody who nearly everyone is buying houses people shouldn't have been buying them. Were buying them so you know from from my perspective looking at. The numbers here it's a great sign that you're seeing more buyers. What form this early you know for years to win and all of these fires are qualified. While he and I. Here's my perspective on when you have bubbles I've lived through a lot of balls in my life. And when you have bubbles they tend to go to high. It when the ball is growing up to in the bubbles being inflated it tends to over plate and we saw that. Back in 20056. And seven you're around in those years in Zurich was going on in the housing market. He said yourself. T affect day. Who works. Part time buy a house that's worth half a million bucks in just didn't it didn't make sense to anybody in any dissent must be working on our. And then use it CEE had this grossed over extension of the housing market. And then the bubble built right in and then you saw nothing go on for many many years and still. The what you see in terms of construction it is not enough to satisfy the demand. For new stock it and that's why when I looked out at the landscape here I think you probably have a couple years before you start talking about bubbles on the national level and at a local level I do think you have some we've talked about how Miami overbuilt and they're starting to fall apart yeah I get the sense that San Francisco is going to be quite the same situation but in a lot of people are starting to move away from there it's gotten so expensive and it's so crazy out there. We'll make the do we key stat if you talk to anybody in the real estate industry like somebody from Paul the homes are. You know the the people that are actually making money somebody at Home Depot. What they're looking at her first time homebuyers. They made up. 32%. Of the market in the month of march that's up from 30% level a year ago according to the National Association of Realtors. We've been told by the NAR that number in normal market is 40% of the new buyer. Jesse still about 25% light in terms of overall numbers of buyers that you'd like to see out there actually buying places not just looking because I'll tell you. I have friends who are looking around the Boston area. They can't find places in their price range you know and and and that's the big thing is they want to buy movement they're having a look at different towns they thought originally there every day. Change their plans so I think. It's humming and when I do think the lack of inventories one of the biggest drop one of the biggest things holding back young people from buying right now. Well remember. Homeownership rate peaked at 69%. In the mid two thousands. The long term average of homeownership rate is 65%. That's than that they give you go back. Fifty years. On average it's the 65%. Right now. It's it's hovering around 63 point 5% it is that still got another one and a half percent to go just to get back up to the effort yeah it and that's kind of where I think we should be in the longer I don't think we ever in. The statistics bear out. That we shouldn't have been anywhere near 70% homeowners just because you have all these people who satellite pilot of pointing down I don't have to showing incremental Sony assets -- and I've got a house. Well that doesn't and while we know that so you know. Again the overlap that you always have how many people need to buy a home with how many can afford to be the goal ideal is to maximize that overlap there. What you need to do so in a responsible way now chuck. You listed your home for sale in this whose. A condominium for sale in Somerville Massachusetts which is just right outside the city of Boston. And you listed it wants I guess we do this Friday Saturday not Thursday. Okay and how many people attended the open houses had in the ballpark somewhere around 3035. Wrangler and what will do Mikey did you get offers or do you know where where it is we talked about this last week you were gonna kind of walk you through trucks journey here. He that you bought this place went five years ago July 13 to four years ago so four years ago. He bought it. And now he's listed it for sale. And we're waiting to hear what you opera offers now the witty it's a two bedroom condominium to bed two bath. Under garage on a grudge no boots you assign park to off street parking yep be really curious to see. How this works out like it yeah did he sell it for the asking price under the asking price over the asking price it. To be interesting were waiting till lot tomorrow to like get all offers in an effort thing in the trying to sort through we have but it pretty optimistic will be able to sell the reversal police forces who know the time to be a seller. It is I mean it's just inventories are so low and it'll tell you were Iowa and some hurdles no different you try to look for anything affordable there and everything is. 700000 plus seems like there and keep my. This is some of whom no one wanted to live in Somerville for the longest time when he years ago that wasn't a desirable if there's a reason why used to be called slumming feel that you know and in Calgary next lot of good restaurants great talent it's. It's you know some of the things that you have to deal with their little weird but you have like a weird mayors and it's what he got hit pastors inhibitors are weird Manny get all these people wearing skinny jeans and stuff and it's like what do you do when you're not supposed to Wear that now. But such is life but. But yeah I mean in in general. It's a good time to be a home seller right now prices continue to rise inventories are still Osi getting a lot of beating worsen things. I'm hoping to get one myself especially in the entry level market well exactly they get two incomes radiates pro UB a young couple that by your place someone kinda late twenties early thirties that's what you're looking for typically in the out of school for five years yeah you know. That sets I mean in in a perfect world level of an all cash offer point percent over past but that doesn't come along too often. Very often at all. Would have happened with. Orange is the new black made you hear anything on this Akerson about the need Netflix got hacked yeah apparently hacker got access to they're new episodes of they're the Netflix is hit show and decide delete them. And Netflix declined to pay a ransom yeah. What was the outfit that did it news the dark overlord. Is that was called is it like scandal for seldom or something like that gets in a hack that may be the stole ten episode. It's unbelievable. And in this kind of stuff that bothers me just because it's like. If you knew the amount of time and effort that people put in to putting together these these works and everything. It's like OK see you think that you're cool book as you go out and stealing in in in pirating it out there like the amount of time and money that people spent to develop this. You've done nothing with you like you're someone on Twitter who goes by the name the dark overlord you think your cool but they yen the they demanded a ransom. And Netflix didn't pay should be paid. Oh did you pay all you do was enabled us down the road and I just wondered if you don't negotiate with terrorists which who. With the what is Netflix stock doing today that I had that as the Panetta earlier when we are talking about on Netflix today they're up 3% because they were down when this. Announce it this announcement came out Tucker their stock declined on trading. And I think part of it is most people are just gonna go lake if you have a Netflix subscription then you're gonna watch it on Netflix. The bracket you're not jacket you know I finish encryption because this now from here. Up next will be joined by our friend Aaron award from the Wall Street Journal phony baloney. Butchers are selling vegetables need to look like to meet him at a beach thing that's next from our insurer match dot com Steve. Armstrong. So I'm. Bringing you the best in the business and financial news every day this is the financial exchange radio network. Hi this is very Armstrong like many view I've used ordinary toothpaste for years but I found a new product that has made a major difference in my life and I know what can do the same for you it's Libya on X dental jail this ground breaking new dental -- is taken the industry by storm because not only does it lessen the risk of gum disease and gingivitis it tastes great and it reduces plaque on your teeth better than any toothpaste I've ever used do what I did and take better care of your teeth by brushing with living on -- -- gel your teeth will feel as clean as they do after a professional dentist visit and it's powerful anti -- will protect your overall oral health order right now by calling 8448789423. That's 8448789423. Or visit best dental jailed dot com used by any Berry and receive a special 10% discount off of your first purchase -- -- will deliver the results you need trust me I know call 8448789423. Or order on line at best dental -- dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- -- agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. There relations for all types of insurance continued time stress the money we've just one phone call and one relationship. Called today paid for four of 99 match or go online and ensure a managed dive. 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 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 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 think the state and federal tax income credits now when your high income years then 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 in today at 8559120115. Or visit them online at 800 DC solar dot com. State and asset protection planning can be overwhelming where do you start and how do you know what type of trust is -- for you and your family hi this is very Armstrong and with numerous types of trusts available a state planning can certainly be confusing do you need to revoke global or an irrevocable trust and what's the difference between the two should you consider special needs trust or life insurance trust what are the tax implications of each type of trust pushing and -- an expert in elder law and estate planning has prepared a brand new guide called. 8668485699. That's 86684856990. Can also download it right now by logging on to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing home all the same time call now for your free guide 8668485699. Or get it right now and legal exchange show dot com. The financial exchanges hello. Bond 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. Our guest is Darren Cahill worked she hails from the Wall Street Journal in Houston Texas joining us today to talk about. Butchers are selling vegetables made to look like in meat and never heard this before him. I had I. A man created Mike Graham the picture. Who are so. Explain it to us is when you're you're talking about like things like veal chops. That are made out of vegetables that they appear to be meets it would it would they takes like. Yeah these are these are big into budgetary and who are making handcrafted. Golf that. Let me. I think. You know be in shot maybe in turkeys be in Cherokee. If you can barbecue at. Them and is it pretty. But I can't see me. Great the U that I tried at the lower and Thanksgiving that that. Stop me. Made by the effort the traded Minneapolis. I mean labor but I don't know that there might it is I'll try that some had a couple weeks ago. I've tried some of this stuff like the V converters in the one time I I men made a mistake and had some. Sausage I think has made at a total for some like that but it didn't taste it it didn't taste very good. Well you know these guys are. Probably. We're trying EU if you are getting it. He yeah. You are. Eager people who are really trying to use day. A day week school you of the culinary tradition you know if they're making aid that that. The army out of Clinton barely they are guilty. Everything. And it cricket mad dog is it Kirkland and doing everything that you would do to repeat to beat. Simply queued with gluten up product which called speak and they may you know and obviously they're brining it not as their put out by audited speculate barbecue there there. Poking it Aetna and create that that crap to light. Texture that you gotta talk about to get cut. We're with a costly relative to say a filet they went out if I'm by the beef tenderloin improbably pain went. Fifteen to twenty bucks a pound. I'm probably the worst person asked about her car and I am I shot. Like little. I don't mind. A little bit more or a premium and only after that I'll. I would say that you are going to pay a bit more that step but yet all that should. Yeah. Pat how do you find it there that you use found some up in Toronto you just mentioned Minnesota. And then since it's available in Brooklyn they visited it it is this like a cottage industry that's. Creeping up as a result of all the old people happen to cut back on there on their meat consumption. I mean I think they know I'm I was honestly it's. You know it started looking at it. Company Iger who were in Delhi ahead. Shock and I would finding. Are out and it shows that the meat but meat market is more. Did business you know an XL and strapped it. I'm eight nearly six billion dollar. But there. In talking to you need structure a lot of people who come and cooler not eaten vegetarian cool what electric urged India. And people do. At unity you know occasion albeit at that period meal because they are trying to cut back on consumption curve you. A lot of people my age are being told by their doctors they need to cut back. News to my adult yeah you're you're cholesterol to hide just say you're comparing meteor father. I just thank you Veronica Cleary hit the. My uncle. You cry though you could could have. A look now. And. So this is the future force this this is what might this is what I have to look forward to his age. I mean if you know it. If you like it I'm not. Yeah now and then and wanna keep breathing in so. All right Erin thank you very much we'll probably will post this on our FaceBook page so folks can take our. Are so they check your way your your culinary Danny be your read any of the stuff. I've I've tried a little bit off and it's it's not bad and I'll tell you it's a heck of a lot better. In terms of but its impact on the environment. You know you talk about how much food it cost and how much food it takes to defeat cal to the point wreaking kiloton. Eight you know it's a huge amount obviously that he got all the methane emissions from cows and so forth because their little gas seat I try to begin burger once. But I didn't like it inside the bonds took the bomb off and just beat the paddy. Terror and noted that they're not awful I think the big thing in kind the next frontier actually isn't what what these guys to do with trying to turn vegetables in the meat and but there are a number of initiatives and a lot of big universities now. That are trying to effectively. Create need not from an animal but just from putting a bunch of stuff together that mimics the texture and taste and so forth on that but with out all the nasty effects on the invite. And so it is true once you get into your fifties you know you you can't eat as much state is he did when you're in your twenties he you have to cut back on. You were animal based proteins are very hard thing to do. He did you get used to eating a certain way you do an M I'll tell SE more and more people at the that it that start to go vegetarian. Or beacon news because they say look I can't. And I can't trust myself. To manage and sale while mowing you need this once a week right on to say look I'm stumped I'm done with me you know in and I see more and more people. That are doing that. I've kicked around at a certain point but I I haven't gotten area just because. I enjoyed a good steak and I realize that I'm helping to wat kind of you know make things difficult on the planet in doing so but such is life moment. But mom and dad didn't and they seem perfectly happy eating be they did it for them health reasons definitely use use a choice they made. The dates they seem perfectly happy. They use you see a lot of people who do it and I think the biggest thing is just it's it's an initial would just the first six months or probably I think once people get past that first three to six months it just kind of a complicated Sally. You know. Time for trivia and here we're doing tribute today based on Steinfeld. If you if you didn't watch signed felt you probably gonna struggle with their trivia questions. On which date does the festival's. Celebration take Tucker I know you're a big sign felt and you know the answer that I do OK so. Maybe it's not a high self professed this actually you do competitive are tech's number 68681. Listener with correct answer wins a 25 dollar gas card. On which date does the festival's. Celebration. Take place and again. The text number is 686 CD the prize is he 25 dollar gas card when we come back we're gonna talk about Social Security. Apparently people are losing. Their Social Security because they didn't pay their student loans up. That's next from our insurer match dot constant. You've got to Barry Armstrong had financial exchange. It sure looked like noon to exchange radio network. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've been telling you for awhile about Libya onyx dental gel it's a new product. That is making huge waves in the dental industry because it's been proven to reduce plaque and the risk of gum disease I started brushing with Libby talks about a month ago and my dentist tells me he can already see a major difference Libya on -- dental gel uses the safest healthiest ingredients to clean teeth he gives you close to a professional cleaning every day without the harsh abrasives in ordinary toothpaste that can be harmful it tastes great and it keeps my breath fresh all day long take better care of your teeth and order Libya onyx today by calling 88448789423. At 8448789423. Or you can order online at best dental -- dot com when you order used my name Barry and you get a special 10% discount off of your first purchase that number again is 8448789423. Or visit best dental gel. Dot com many of -- are always thinking about securely retiring while -- 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 -- alternative energy clients they're thrilled with having no electric bill -- been driving their electric cars with -- power from the -- now imagine free solar power creating our -- clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement -- you -- the state and federal tax income credits now when your high -- years and enjoy -- returns for the next twenty to thirty years don't put -- investigating -- the returns could be incredible call alternate energy right now at 8559120115. -- 8559120115. For a -- experts -- analysis alternate energy has been -- new -- for forty years -- them today at 8559120115. Or visit them online at 800 DC solar dot com. Searching for the best savings rate leader banks do my account has a two point 05 AP and that's just one of the perks qualifying Zuma customers receive 1% back on debit 10% back it featured businesses and reimbursements for other bank's ATM fees to learn more about Zuma accounts call 8776917900. Or visit leader bank dot com minimum deposit to open and an annual percentage yield ten dollars two point 03% interest rate mass residents only he's may reduce earnings rate subject to change without notice member FDIC leader back a step. Securities offered to securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Now reform. Wall Street watch a look at the market's performance so far today but I do Berrian jog right here on the financial exchange radio network. And we are now joined by Mike Armstrong for Wall Street watch Mike what's the update on the markets right now. Launch epic had a relatively quiet day today the Dow's up about four points so basically flat yes he's up five points about. Two tenths of 1%. You've got markets closed across much of Europe and Asia is not a whole bunch of news coming out today real estate is leading the way up six tenths of 1% and utilities are down about three tenths of 1%. We you know as you know are right in the middle of earnings season right now so we've been taking a look at just how the earnings season has been going it's been incredibly strong so are you seeing. I think the company's average earnings growth of twelve and a half percent. That continue to be the highest rate since Q3 of 2011. The other and thinking that we saw. That among as a key companies to generate more than half of their revenue from abroad they'd actually average growth rate of nineteen point 9%. Whereas those domestic companies that you don't have as much international revenue have really had less than how. Half as much earnings growth so really big focus on international and just the those companies that Serbs those markets. Next couple weeks are pretty big for earnings as well what do we have on tap bar on the earnings calendar this week. Yes to tomorrow you've got apple CDS and fives are some of the big names that when they were so that FaceBook Tesla. Hit that group on among among the picnic reporting so a lot more to come. Yep pretty go to sleep this weekend Mike thanks for the update. Mike Armstrong with Wall Street watch. Popularized. By and 1997. Episode of signed felled. That's the business is both the parity and the secular holiday celebrated on December 23 as an alternative. To the pressures and commercialism. Of the Christmas season seem you learn things here and yet the winner on this question was Jay from Quincy. 25 dollar gas card to gulf as his prize. And 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 thought about installing solar at your home or business call alternate energy. For free estimate courthouse or can work for you call 855912. 0115. And setup your free no obligation consultation today that's 85591201. 15 talking give a favorite part of fastest by the way. It's via. What is that the annual beating ness of them are wrestling shall. We you've got the feats of strength but that's what it is definitely desecrate I've always preferred airing of grievances. That's that's always been my favorite part which you have to start you know its use you start off music got a lot of problems with you people know and now you can hear about it and then you want chairman your grievances and and it's it's a very cathartic. Yeah part of the oldest one day holiday in one day yet it's one day it's celebrating instead of a yacht tree it's a whole little hole typically made out of aluminum. Just to you know for their ability and and queen will woody do with the pole and holidays mutated down that you take it down it moved from the quarterback to the cause and effect you know. I our Taba. Student loans and eat the the fact of the matter is. If you haven't paid just in love there's millions of people they don't pay their student loans up. The government has finally figured out how to get their money they're taking it out of your Social Security check. Which with surprise me here is they say they have the ability to garnish wages. But I never see them do that I think I as an employer. I I don't see I see garnish mints on wages for child support and alimony but I don't know that I've ever seen a garnish wages garnished but for student loan debt. Think part of it is at the majority of people who were behind ten to be a little younger and we might not necessarily have access we might not have hired any of them at this point mean but. There's a lot of talking there's a bill was trying to make its way through congress right now. That would put an end to the ability of the government to garnish checks to pay for student loans. I here here's my view wanted to there's. Two pieces that I think would would take care is the first is. Still to launch the only candidate that can't be discharged in bankruptcy. Which I don't think makes a ton of sense why why would that be the case. And because there is I'm OK with discharging them in bankruptcy but then you have to underwrite them strangely so we all rights under right differently but allowed discharged in bankruptcy he did get a student loan unless you have collateral. It. You can figure out ways to deal with that or you say okay it's gonna be a person that's why is earnings and things like that that's why can't start discharge and cause because all the student loans are made people that. Have no collateral in and no ability to repay up to be fair few do it based on just having collateral though all the sudden you don't allow people need them because if they had collateral why would they do this in the first place that borrow against that I agree Betty bite my point is. Dave the big criticism on student loans is it all these poor people that borrowed money to syndicate because a lot of these repair possible strike floodwaters are apparent. You know the fifty year old parents that. Borrow thirty grand. For their kids to go to college and then the government says that you do pays back the thirty grand we're taking your Social Security which is why I think that you should I think this punishment should continue their view simply saying look we're not gonna pay this. You know obviously you need to pay him back but. I do think that it should be something that should be able to be negotiated and discharged in bankruptcy just as it would just as with any other kind of lol yeah and did you open this pandora's box if you do that outcome. Because the the the whole idea. Is you're making student loans to people that otherwise wouldn't be of the get them rate. You could have a five under credit score you can beat Lleyton could be unemployed. Completely. Destitute. And you can borrow money on her plus loan to send your kid up college. Well the whole. Premise of that loan is there's a guarantee that we're gonna get paid back and that the you know the right now the only can discharge animal is by dying race if you're. Fifty years old and you die dating still haven't paid your money back then that the loan is just choked so but why they the they. Otherwise I nobody in their right mind would loan money to fifty year old to send their kid to college especially given they have no ability to retain it. Well that would if he could charge the appropriate interest rate. Nothing if you loosen regulations in and say look instead of having charger maximum was like a half percent you can charge 1212 now you know. If you do things like that now that you opened up the markets nukem new competition potentially but then Elizabeth Warren will be screaming houllier charging huge burst rates might might promised not to deal with Elizabeth Warren my problem is to deal with. What's actually going on here and I think there's a balance to be had we say look we can discharge these but we also allow lenders to charge more but okay. And you also allow for a little bit more trouble with the default rates do you like just you know at the default rates are. Calling for profit colleges to get rid of those it's not a problem. We know that 90% of those are happening on for profit colleges. They get it this isn't a problem with public public universities not a problem with private universities the problem with for profit colleges that the TV you flush that out there in February. Yeah I mean the statistics bear that out that it's not too bad otherwise the default rate if you look at. Private universities and if you look at our public university stripping out the for profit colleges. Default rich no higher than any other kind of debt that we are disadvantage of the bubble was in that. For profits the for profit schools which is effectively they've been effectively been shut down there for them the bad loans alms. Pretty close to it at this point. But I'm pulling up the statistics right now yet 86%. Of defaults or from for profit colleges. Right now the way it works is if you haven't paid your parent plus loan. And you owe money on it. The Social Security can take all your the government can take all of your Social Security except for 750 dollars to benefit that 1996 law. The legislature's thinking about changing these in these congress wants to change it some years left with warm a quick announcement regarding leader bank. They have those who book rewards account which is just outstanding BP I don't know if you heard this or not. Two point 05%. Annual percentage yield on your savings account. It's such a good deal that they limit you. 250000. Dollars yeah not allowed it to heal the you can put more than 50000 dollars in the Tampa they'll pay the two points or 5%. Annual percentage yield on anything over. That 50000 dollars in order to qualify for as the only have to have a thousand dollars in direct deposits. You need need to make 8% debit card transaction but remember every time using debit card you're getting 1% cash back in you have to sign up for electronic statements. Leader bank while their needs as at all they are a leader if you want a good partner bank. That will pay two point 05% on your savings account. Call 8776917900. The even have an option we can open up one of these accounts online go to leader bank dot com. And look resuming its spelled. ZEUG. And a zoo look rewards accounts to terrific offering from leader bank 8776917900. Or leader bank dot com. Big problems with the price of the no I was shocked to see what was going on with price of the no at all has to do with Tucker Madagascar. Who who. I I had no idea either end and what you're seeing. Is that been no beans okay this according to Aaron Cohen the owner of Greece these extremists Somerville. Used to buy Vanilla beans at a rate of 72 dollars a pound with it too expensive anyways. Those same pax announced 320. Dollars so he Warner can get them four times the cost if you can find them. And pretty much what you're seeing is that as you mentioned its problems with Madagascar are right now. And unfortunately because that's one of the few places in the world that actually produces an Al there are ready made supplies and other suppliers ready to come in. To compete there and so the majority. Homes from Madagascar a particular. You had a big cycle there that took got 20% of production in the area throughout march. And so pretty much you don't have a whole lot of production otherwise. We've been dogged him this summer Newt's going to be a problem some. I can see your panic about the older evocative this is a concern it as part of ice cream here and a W rundown to BJ's and get as much ice cream as you can you can probably arbitrage this and sell their profit late summer I'll get another freezer actually just loaded up with an allies it's too late we've missed. We missed our chance we we should have been tracked in this last fall. Now you know. Imagine you're in the eve of an ice cream shop on the cape. They hit they make all their money and now they make all their money between Memorial Day and labor. Yeah hedge. You think they had I am I know with big twelve guy in the in the restaurant business and hedges he he hedges as lobster. Really yeah. And this is there anyway. Shortage of the deal this is this could be a calamity going into the summer months. A next we will be joined by Chris Paul Kirk from CNET wrote to what are we topical and a car. We re talking about a car that's near and dear to my heart it's it's the the new Subaru Impreza. And so will be chat with Chris about that after the break right that's next Subaru Impreza once a week we talk about cars. That's next from our insurer match dot com studio. Armstrong. So. Bringing you the best in the business and financial news every day this is the financial exchange radio network. If you worked hard for the past twenty years and enjoy a healthy savings account you're in a solid position to enjoy later life hi this is very Armstrong saving money for your retirement is half the battle making sure you leave it to the right people is the other half beneficiary designations are not an afterthought while most people try not to think about what happens after they die it's important to set up beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designations because believe it or not there can be complications call now to get your free guide understanding traditional higher rate beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website financial exchange showed dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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 costs should 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 treaty 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 think 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. Or visit them online at 800 DC solar dot com. Hi this is very Armstrong and I've been telling you for awhile about -- -- -- -- it's a new product that is making huge waves in the dental industry because it's been proven to reduce plaque and the risk of gum disease I started brushing with -- -- about a month ago and my dentist tells -- he can already see a major difference Libya on accidental -- uses the safest healthiest ingredients to clean -- -- -- -- close to a professional cleaning every day without the harsh -- in ordinary toothpaste that can be harmful it tastes great and it keeps my breath fresh all day -- take better care of your -- and order Libya -- today by calling 88448789143. -- 8448789423. Or you can order online at best dental -- dot com when -- -- use my name Barry and you get a special 10% discount off of your first purchase that number again is 8448789423. Or visit best dental -- dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match that before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered -- so they get all the discounts preferred customers like you can qualify for -- insure a match to compare multiple rates in carriers and 844 and 99 match let's 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 than money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Security suffered through securities America ain't member finreg SIPC an advisory services arbiters securities America advisors think carry ons from representative Armstrong advisory group in the securities America companies are unaffiliated. Stay on top of breaking financial news by becoming a member of the Barry's brigade. Log on to financial exchange dot com and sign up today it. Every Monday we review a new car that is up for sale today is no different we're talking about a super. We certainly are we're joined by Chris Parker from CES CNET roadshow and Chris thank you for joining us. Great to be here thank you. Chris let's talk a little bit about this the two what's the on new 2017 Subaru Impreza is this a complete rebuilt or is this just a modification of the previous version. You do I want what has earned only model is built on is chassis that will become. Kind of the underpinning the B structural toolkit for all future speakers. And it got it and put payment that got me styling settled yet it's about that the. So this is the car that is pretty near get my heart I drive a WRX myself. On what's new in this version of by the Impreza can you walk us through all those new features. Absolutely so that is for the fifth generation model that will eventually have been the experts are eager that you are experts agree car by the way. I'm so it's probably the cheapest way you can get into an all wheel drive vehicles in the US. Which it should be wonderful for the New England weather is you've got a winter US open there. It got and he got beat it's got all the boats came inside it's or at least he features including. Available. System that includes auto break. And pedestrian detection and all sorts of things so it's a comprehensively new vehicle it has been proved right dynamics get a bill. More or less promising right that it used to be that's in about nineteen Brandon. The only loaded the trip is about 255. Or. Now this is also watch that I know this has previously been manufactured in Japan they're gonna start making this in the US as well correct. Correct this model will be built out of Lafayette Indiana which the plant that is also produced bottles like this new group like these but archers sedan. And they have a partnership with Toyota where they've built every there as well. What are some of the the downsides of vol this model are there any crop problems that they didn't address from the previous generation. Well I think that style is significantly improved but it was really don't work. Honest work a date certain vehicles and sometimes they can be a little bit. Unfortunately it. I think this is fairly you know fairly attractive in a conservative way it doesn't strike out and at old direction like the new Honda Civic. But it may ate a little bit better as a result of that the interior which have also been a source spot in terms of material quality. And infotainment. Has definitely improved but that's starlink system they used for navigation. And your audio controls Billiton the best of the market. What do they do in terms of up power train on the center that one of the criticisms of the previous models. Was that it just didn't have enough power for some folks is that the same here there there is the engine a little bit upgrade. So that's largely the same here it has two liter flat four. The route one of the only companies that does what what's called a flat and it engine where the soldiers go opposite each other so that creates a little bit more noise. That you would find in the typical. In my war but there's the payoff is if you can't think of it if it's lower in the chassis. It still we have a 150 horsepower and a 120 how it torque. But the tradeoff is you know you're you're not going that put it to sixty Oakley about eight and a half seconds or so. You get good fuel economy. On the order of 2728 miles per gallon in the city and 37 or 38 on the highway depending on the. In in it seems to me that overall for the for the price that you pay under 191000 for the base model. It seems like get a lot of bang for your buck there. I think it. Is really becoming. A must have commodity as people get used to crossovers. And they want to follow whether it ability and also realized that it helps the drive. This is. You know among the cheapest entry points to get that sort of technology. They didn't really has. Put that on the market you know that that's that's their stock in trade and and people really come around to it so it's it's a nice way to get into that in the refinement call that you stick this. Between it and things like a Volkswagen Golf or. Political role isn't it that apparently used to be. Would say yes servicing cost on current like this you know some cars are more expensive to maintain than others. Chair and I wouldn't be in there are about the all wheel drive on I mean it at the pretty standard. Industry warranty I believe the three years but he is miles thereabouts but in Britain general have pretty good quality scores. Oprah being a robust. A lot of people that buy these are the young authority I and maybe they're not so great about it will maintenance. Or they like to beat on the Arctic about contrail of it bound by all that they hold up pretty well. The good Chris thank you very much for your time appreciate. Thank you could it be with you Chris Parker from CNET roadshow you know you'd university. The Subaru in a rental fleet the they don't do much in terms of off which sells no and that's a good thing yeah in terms holding its value I think it kills the car. It value is if the if they're sold the rental agencies. Wreckage and if you get a rental you know if you get Davis who buys one keeps for two years gets 45000 miles and then all of a sudden they're reselling it beat Houston and San OK Campbell mine now this one you know get priorities are dumping them on a market and in the rental agencies and dump and they have a certain mileage level. Where they say OK time to go. Because they wanna put their drivers if you're renting a car from Hertz. The one EU want an old Ian fairly new car. Read on cars are red carper hurts its body does not know you don't it's it's why you never see a rental car probably more than about 30000. And a lot of abuse in and Fords chevys charities should be cut back on their fleet sales to them they have this there's still a big part though. Dow is up four points S&P is up six person boils down books is good news for summer driving season. Oil is down 56 cents a barrel up 4877. Thanks for tuning in to the financial exchange trucks not a talker Silva and Barry Armstrong saying goodbye until tomorrow. From our insurer matched the constant.