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Full Show 5 - 5 - 17

May 5, 2017|

Full Show 5 - 5 - 17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of tour exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about an economic and market trends plus get breaking business news and every day. And now the financial exchange with Berry Armstrong and chuck Exxon. It seems like we're flood it with economic information. Not a day goes by that we don't get some kind of economic importantly the weekly jobless claims report that came out yesterday on Wednesday. He had the ADP employment report I'll take away in my estimation there is nothing more important. In the monthly jobs report it gets released by the Bureau of Labor Statistics. You know there are those of people say well not entirely accurate they don't count this that it takes. No this a long time if he is a bit of information and I read this report faithfully every month. To date is today where we got the jobs report came Saturday 8:30 eastern time I everybody's variant truck with you and chuck is just I'd a lot of information to try to digested this report mean headline number 32111000. Jobs created. Unemployment rate dropping to a very bullish four point 4%. The other headline numbers very good and I think overall even digging into the data a probe would give it somewhere in the range of BE when it's all said and done it's a good not great report. Overall as you mentioned. About a hundred and up 56 here I'm sorry about I'm sorry. 2111000 jobs created. Unemployment down to four point 4%. Part of the reason that unemployment down you did have a few more people dropping out of the labor force a 162000. Additional people. Dropping out of the labor force here. The labor force participation rate declining actually down 62 point 9% that's one of those. All setting features here that isn't quite as robust. But you look at some of the underlying data. And long term unemployment continues to decline number of people unemployed for 27 weeks or longer. Down to one point six million a year ago that was over two million so you're seeing significant decline in long term unemployment as well lies. A significant decline in the number of people who are part time for economic reasons today about five point two million. A year ago about six knowing it's a whole lot more people. Work error while less people rather working part time because they are able to find fulltime work. A good sign that you're seeing more people getting full time work hours worked ticked up a little bit. But on the other hand. Wage growth continues to be muted. You know wait wage growth is just not where you want it to be it's about a 3% annualized rate if you look at the last year overall. Wages are up 2.5 percent for the last twelve months is just not robust enough. And we continue to kind of play this game where one month things look good on the wage front the next month things kinda retrenching we're not seeing the progress that we need. Both were back to the rate of unemployment four point 4% that's the headline rate that's what's going to be on the evening news tonight. Lowest its been since. Date of 2007. Lebanese understood that you know very low rate of unemployment four point 4%. The use six and in for years we've tried to emphasize to our audience the importance of measuring the use six because the use six. I always open that's the real level of unemployment that's that's the people there that use six includes people who are working part time but want to work full time can give you. A myriad of examples and he gets somebody who's. And working part time. As a waiter. But wants to work full time just can't get full time hours that number coming in it eat point 6% that also the best number we had on on that particular line chuck since November of 2000. It is in the the spread between that you six in the headline you three numbers now four point 2%. In a healthy economy you're somewhere between three and three and a half percent see starting to get down to the range. Where you know we've talked for an awful long time about are we full employment are we finally at full employment. Your debt at the point right now where you pretty darn close to full employment you're not there yet. But it's something where this train continues for the next six to eight months you're pretty much sadness saying look anyone who's qualified. Has job anyone who's not qualified obviously isn't going to be in the labor force you're you're pretty close at this point to full employment right now and the thing to remember. Look we are continuing to see people dropping out of the labor force the biggest reason for that about two thirds of that. Is because of baby boomers retire now okay we have 101000 baby boomers a day retiring that's 300000 people month. We had a 162000. Come out of the labor force the net that out pretty much makes sense it's right on the money you are never going to see there's 94 million people that are working. They're never going back to work because there. The majority of those people. Are either retired care from kids are students that's just how does this year you see yet 300 passer term we don't get 300000 entering the workforce anything about how many people are turning. You know I think eat where they should be working. Now it's the the demographics because we didn't have as many kids it's not quite as strong actually it's you don't necessarily have that every month at this point. You potentially getting to the point because remember the kids that are coming into the workforce now they're coming from generation next Generation X. was not as big as the baby boom generation. OK so you simply don't have the replacement there. Eventually looking go another fifteen years or so once the millennial kids start coming into the workforce you'll probably see a little bit of an uptick there because the colonials are bigger than the baby boomers the gen X is smaller than the baby boomers there's not enough kids coming in replacing all the workers necessarily. There had been speculation. That we would see revisions to the upside on the Marques report in fact that's not the case. It revisions to the downside is more like it here. You know we saw march revised down from 98078000. Hired 79000. Rather. And you know march more than anything else that 79000 there it seems to be a statistical blip you get one of these kind every six months or so you go back to may. Of 2016 and we had less than 50000 jobs created. It was a book the months around at all we're north 450000. So. March at this point I'm kinda saying hey that's the blip right now. Until proven otherwise that's what I'm going to believe just because everything surrounding it you have to go back. 2 September of sixteen to find another month below 150000. Right now. Marches the outline. All right so let me just give you the headlines again folks 2111000. Jobs created last month that's April. Unemployment rate is at four point 4%. Earnings up point 3%. The unemployment rate four point four is the lowest it has been since may of 2007. The labor participation rate dropped a little bit to 62 point nine it still lower than I would like to see I'd like to see labor participation at 64 point five. Given the age of our society. In the end the use six which this is the number. You really want to talk about. If you're. If you're FA what if you're in an analyst meeting. If you're in an investment committee meeting if you're managing somebody else's money that is the number I look at it because that tells me how much slack there is left in this market. And that tells me how much more growth we have. The U six is eight point 6% that's the true level of unemployment. When the use six kits to give you a number of target number on the use sixth he hit the use six down to I don't know. Seven. I stepped up to see six and a half percent never eight that it out and I'd. It's my fantasy right yet you have to have a goal. If if you don't have goals and policy you know in I don't know what the I don't know the U six has been down low in the last thirty years. You know it it's okay news we can strive. But that I'd be happy at seven. But I would love to see you used six at six and a half percent because you'll never bother you even in the ninety's we only got down to six point eight. You know of that but yet that's when you had wage remember how wages were in the nineties it tremendously. We yup it was also all fake because the tech bubble. Well yeah. But day I'd like to see more wage growth that's the you know you talked about giving new unemployment report agreed to be. I would have given it. Me if we had stronger wage growth the thing that bothers me about this recovery. Is the lack of earnings increase in people working hard the people I believe people are working harder than ever. The wages are not commensurate with the effort but it being put out it may be is that certain industries but overall. People don't seem to be making an income they should know. All right it does lead to our poll question today. Had your earnings increased by more than 3%. In the last twelve months so think about. You know it's it's me of when he seventeen where you make. For income. In May of two when he sixty has it gone up by more than 3% you can participate in our poll by going to financial exchange show dot com. Have you earnings increased by more than 3%. Financial exchange showed dot com is how you would participate in that poll question. We obviously will be covering the the issue as it relates to the healthcare bill it passed through the house yesterday. I don't know that it has a whole lot of meaning because the senate is gonna ticket chain saw this thing. And it's gonna look vastly different when he gets through the senate as a matter of fact that it Larry Kudlow from CNBC will join us in this hour. It will get his input as to what he thinks the final product will look like. But up next where will be joined by Marshall. From pearl public or be talking about America's other drug problem. What happens. To prescription drugs valuable prescription drugs when somebody dies halfway through the prescription. Or when they go and they expire. That's organ be discussing with our next guest who B Marshall Allen from pulp patrol public. From our insurer match dot com studios. Like us on FaceBook and follow us on Twitter packs TSE show. Breaking business news is always first right here on the financial exchange radio network. If you 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 trying 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 called out 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 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. Hi this is very Armstrong and I've been telling you for awhile about Libya onyx dental -- 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 Libya talks about a month ago and my dentist tells me he can already see a major difference Libya on X dental gel used is 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. That's 8448789423. Or you can order online at best dental general 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 the vice president at leader bank and 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. What 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 would we are telling men are a couple things one beat patient. Yes you know we we see a lot of first time homebuyers who are making five and fifteen offers from time to for fighting house now and offers except it's extremely. Okay. Until they have to temper their expectations. Oftentimes yours they're paying more than the other half to. Paying more than the asking price and a now it is quite common right now in and in some cases they're 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 so we're really excited about this product we just launched it it's called leader thirty. And essentially what it is is that fixed rate loan. 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 a break during that first twelve month period exactly so gives you little payment relief for your moving expenses that you still have the security of a fixed rate mortgage. When I bot. A hole. And when I've refinance my properties I've always used leader bank near terrific bank you can call them pull free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered through securities America each 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. It's our daily poll question that financial exchange showed dot com. Vote your conscience there are just votes go to financial exchange show does come and tell us that way. Have you ever wondered what happens to prescription drugs when they expire. I and to that and we've recruited against this needs Marshall Allen. He wrote an article in pro public and it got picked up by CNBC's good enough to join us on this air right now I Marshall or you. Good morning I'm well thank you. What would happens to these expired prescription drugs to think about you know. Drugs that are at a hospital. And nursing home. Beauty you know you use your your mum or dad died Nikko clean up the medicine chest when we do all these expired prescription drugs. All this story I did actually more outrage that because it's not about expired drugs it's about perfectly good and expired drugs they get. Flushed down the toilet in there and poems are thrown into landfills or incinerated. In massive. Burgers located around the country. And one thing that you know we often think about there's all this debate going on in Washington DC about. How people get covered by health care about what we don't know and examining congress is why the cost of health care so I. And so this particular story I look that. Was looking at that perfectly good medication they get. Prescribes a month at a time nursing home patience. And then if they get discontinued percent reason. There are some leftover and bad and that just being thrown away. So big and not and not everywhere you identify the couple situations I think idol was one of them. Yeah they're trying to recycle or that drugs. There's really common and solution to this problem and Iowa what they do an Iowa that they take these same drugs that have been prescribed there and Terrell. Blister packs. That are given to the people in nursing homes they take those access drugs and they send them back to a nonprofit pharmacy. Where they get inspected by our assistant pharmacy tax they get dispensed for pre Q uninsured or underinsured patients in the Iowa area. So I was one of the you state that actually save these drugs then redistribute them. To the needy patients most states they get thrown away and off and unfortunately it flushed down the toilet. The day it and it's a lot of these drugs are pretty expensive Mikey gave some examples that your story about drugs getting flushed it. You know cost 8000 dollars a month. Well they're extremely expensive yeah cancer medication can be. That's really. You want to bet if these these drugs I mean if you added it up. Iowa estimate that they're going to say about five million dollars worth of drugs this year. And that's a fairly small stage so I think just the cost of the drugs getting thrown away in the United States in nursing homes is about a hundred million dollars certainly not hundreds of million dollars. And that was all stuff that Medicare has paid for these are taxpayer dollars. Often literally being pushed down the toilet. What happens from a from contamination standpoint no water contamination standpoint when you flush. Drugs down the to a because I never thought about until I read your article on a victim myself. Diana you've you've you've flushed that down that's that's gonna get into your water systems and. It doesn't get in the water system and right now they're uncertain about what the environmental impact is on human they do you see that better. Low levels of pharmaceuticals in a lot of the locker United States. And it's having an effect com on session housing like the organization of special hours causing fish to have. To have their sex organs changed. But they're not sure right now what effective on people whether at this point it's harmful for people. Some drugs are more. Dangerous to the environment and others. Definitely and the entered you know all these drugs are classified in different ways so. The typical pharmaceuticals like medication. First what they can understand home is not classified as leaders material. But some other things that are nursing homes are considered hazardous materials so. They have different classifications for the drugs and then they have different regulations that dictate how the different things are disposed of the the most pharmaceuticals than 90% of them. They're not classified as hazardous waste and so they're allowed to just grow them in the trash or Wear them down the toilet. Or. You know having them incinerated as really the least environmentally. Problematic quit doing. Did you do drugs actually go bad somebody in the military told me. That you know that's kind of a scanned it did drugs don't have an expiration trade date on them. And edit or they they have the expiration date on them but it's really to benefit the pharmaceutical industry that. You know eat your cholesterol Mets are good for you know ten or twenty years is is that true or sentinel wives' tale. Well so is it depends on the drug. A lot of drugs have been tested and shown to be good long after that are that are posted expiration date. And so it is true that what a lot of medication. When it tested the the problem they don't usually has the stuff but when they have tested a lot of these drugs they have found. That they are still valid long after liberation day. So emotional that's something I'm not one thing that had people contact me about them actually looking into. And I want to make sure mentioned here listeners. That I'm kind of on the quest this year to identify as many examples of wasted health care spending that I can end. What what the point I'm trying to drive home here is that these are your dollars. Dollars whether taxpayer dollars. Or are insurance premiums are all the out of pocket costs that we have. We're paying for our care. A lot of that is being wasted and they estimate that 25 to 30% of the actual total stands in healthcare is just wasted money and they they estimated about 765. Billion dollars a year being wasted. And so my and a theory with this project is that if I can show enough of these examples and ways that they can be corrected. Theoretically. It could bring down the cost of care for all of us if we could just cut out some of the way I mean that's a step that. We would never step in our own house all our own household budgets would not allow for 30% ways. But and they'll have a have a form on my well on the web side that people can go to a does that help us investigate wasted health care dollars. I really hope in the listeners out there will send me their tips especially people who work in hospitals or who worked in the insurance and a new website Marshall would a little public pro public dot org is the web site. And you can look at my story called America's other drug problem. And on that it there's no way to you just so people can help me investigate. Or this waste is the most prevalent. Thurgood Marshall thank you very much for your time appreciate it thank you agree more. Chucky is speaking your language is you've been on that kick for a long time about it you know. Be a big part of the health care problem we have is a waste. It is you you can realistically look at how much we waste in health care. And you could reduce the cost by about a third if you stripped out a lot of the waste you know obviously a portion of it is on drugs portion of it. Is on diagnostics that are unnecessary and so forth. But it's it's the single biggest driver. Of increased cost is because. You'd continue to have more and more doctors that are concerned. About them you know at my patient and you know either assuming you do this is that so would end up with them is a bunch procedure but drugs prescribed the don't necessarily do a whole lot don't work for people. You know what we're trying to address with. What what congress is trying to address with the health care bill trying to address comfort that kind of address costs and that's the thing to remember it's trying to address the coverage side. Not the cost side until you deal cost side. Not come down. And I don't do. They were doing tribute today based on the late president Harry Truman was who was born a 130 years ago this month. Which state did Harry Truman represent in the US said it before. He became vice president of the United States are tech's number 66 city. First list or the correct answer wins the 25 dollar gas card. What state did Harry Truman represented the US senate before becoming vice president under Roosevelt. Our text number is 68681. Listener with the correct answer wins it 25 dollar gas card when we come back with that Wall Street watch. It will be talking about the health care bill that more for march or match dot com studios. Making your Smartphone even smarter. Download. My surgeon financial exchange killed in nineteen Jordan who who played stores this is the financial exchange radio network. This is a special announcement for landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent date we've zero liter banks all mine rent collection tool. He went automatically deducts tenant's rent and deposited into your account visit WWW dungy rent dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 716418691. If you work hard for the past twenty years and enjoy 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 called out 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 are with the 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 security retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England while technology improves and costs have come down solar incentives seem almost too good to be true if you talk to alternate energy clients they're thrilled with having no electric bill. 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That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit 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 walks about a month ago and my dentist tells me he can already see a major difference Libya on X 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 -- order Libya -- today by calling 88448789423. At 8448789423. Or you can order online at best dental -- 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 -- dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered 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 -- 84499. Match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more there relations for all types of insurance and continued tone and stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. Four mostly watch a look at the market's performance so far today but I still buried in shock right here on the financial exchange radio network. It is now time for Wall Street lots were joined by Mike Armstrong here Mike what's so what's the market doing that this book at this point. Well check out pretty quiet so far this morning obviously still. Early in the trading. That he did he would be known big payroll numbers out this morning in nonfarm payrolls increased 2111000. Us calling it a really at this point mark that we're hoping it was a blip on the radar doubt it back in March so numbers only 79000. Increase. Two attitude is big number today so it does look like it was a blip on the radar unemployment rate also declined four point 4% which I will point the lowest level since made 2007. But the market themselves Dow's down about 36 points. And yet he is almost completely flat or are you are seeing some positive movement Europe. It seems like we saw a quick the yuck commodity sell off yesterday can you talk a little bit about what was going on. We did yet so. One you continued the decreasing oil prices across the board most of that concern about US production. Just being very strong and then. General lack of demand. From China is really impacting all commodity prices of China's announcing that you know planning a slowing it spending initiatives and tighten monetary conditions and based on that yesterday he saw gold down almost 2% silver down 2%. Big one with. Iron or 6% that we look at movements commodities since April 1 iron or is down 16%. Oil down 10% nickel down 10% zinc is down nearly seven in koppers downsides we have seen pretty big ships and commodity markets says equity market continued to rally. Very good Mike thank you for joining us. Mike Armstrong with Wall Street watch. Harry Truman represented the state of Missouri in the US senate before becoming vice president in the year 1945. And the winner on that question was David from Hanover Massachusetts David taking home 25 dollar gas card to mobile. As his prize in tribute 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 you've thought about installing solar ready to your home or business. Alternate energy for free estimate and learn how solar can work for you call 855. 9120115. Incident your free no obligation consultation today that's 855912. 0115. Well the health care bill made it through the House of Representatives yesterday it was a close vote. But let's walk through some of what we know as it relates to what passed through the House of Representatives yesterday. 81 thing we learned is insurance companies are going to be allowed to sell much wider variety of products. They'll be no employer mandate to provide coverage to their employees and on the other side of that. They'll be no individual mandate jock in other words if you're. Twenty years old and perfectly healthy you're not going to be required to globe by health insurance. Now you'll be required to but if you ever want to in the future you have to go and pay a significant premium to get back into the market. Which is pretty much a nice little handout for insurance companies. And you know the the that that's the it's a handout to insurance companies and I think it is it's the it's the dumbest part of boats it's hard to say it's the dumbest part of the bill but it's one of the dumbest sports and one about one thing that I saw in your diet I didn't catch it till this morning is. Big win if you're rich you have a large investment portfolio. It repeals the three point 8% tax on investment income and chuck it does that retro. To January 1 when he seventeen that's a big win for. Big investors hedge funds. You know if you is that that's that's eight years you've got you know. A 23 million dollar after tax investment portfolio you're gonna benefit from that that's a retroactive to January 1 yeah it. It is repealing that so obviously I your high income murders are going to off field you know little bit less of pins there as that that goes down. What it does though is this does allow states to effectively. Opt out of covering people with the opry pre existing conditions and this is this is the single biggest problem with this bill if you ask me because. You know pre existing conditions. They're not necessarily something that is your fault I have a friend who lives down. And Merrill into I was talking to yesterday. Yes son was born with one kidney. That's a pre existing condition through no fault of his own it's not anything that happened and it wasn't nailed living a bad light the son was born with one kidney. Through no fault of his own do you know what his insurance costs are going to be if Merrill decides to get rid of coverage for people with preexisting conditions. Impossible to projected as one no it's it's not you can pretty much say that they're gonna double or triple based on most projections out there so. All of a sudden he goes from paying 151000 dollars a year covers family to 45000. He can't covers kid and all of a sudden this kid. Isn't able to get you know any medications or anything that he needs. You know that our high cholesterol is considered a pre existing condition there goes another 33% of Americans hypertension high blood pressure is considered a pre existing condition. If you wanna continue going through the list you can go through you can talk about depression bipolar disorder the very things that you need to cover to make sure people don't go crazy and start she never won and all of a sudden we're not covering notes. But it is this is very basic. Yeah I I'm not too excited about it and I I think we need to temper. Our judgment of this because the senate is literally good ticket chains slid up there maybe gonna take a chainsaw to the senate are you said they're not even started with this deal. Rate they're they said they're starting with the new draft in the gonna send it back to the house just is this is pretty much unworkable. The bill the one thing that I would that I'm concerned. And this is you know for my generation I I look at chuck and frankly. I think you're generation. The thirty year old in the millennial. I I think you guys win. This because I think you're costs are gonna go down a little one wins on this it's a bad bill no that's not true because. You or is if you're old like me. Now Mike Corder goes to five times what young people. To be fair about what there was three times to be fair was five to one pre obamacare and that's a pretty good estimate of the cost of elderly Americans the big problem. Is that when you go back to that five to one if you don't cover that cost through additional subsidies that's what you end up with people between 55 and 64. Being whacked for two when three times and they were paying today. Right well and that's where it that's what we're going to see I think older Americans the fifty plus crowd is going to be hurt by. How's that. But again I'm not. Terribly concerned about because the right I did very little doubt in my mind. That we're never gonna see the house no I don't think you do just because the senate looks at this in the senate pretty much says there and says that this is what you came up with this is the best you could do. Because the problem is this bill doesn't do anything. To address any of the key drivers and cost doesn't do anything that frankly Republicans said they really wanted to do and the reason for that is because when you have to pass a bill through reconciliation. You can't get rid of the old wall all you can really do was amended. And so if you're going to use that reconciliation process. You can't actually get rid of it if Republicans came and said look we just wanna get government completely out of health care that's what we wanted to do and here's our building does that. Fine at least I can say I know what you're trying to do this all they're doing that moving money from one pile to another there's nothing actually happening here. The announcement on behalf of leader bank before we get to Larry Kudlow is I wanna remind you leader bank as a savings account it's called. Suk CE CU GMA. Zoo goma. Savings account and he'll pay two point 05%. Annual percentage yield. On any savings account balance you have up to 50000 dollars such a good deal they cap you. At 50000 dollars. To qualify. You have to receive at least a thousand dollars a month and direct deposits are your paycheck your Social Security would call. Yet to make at least eight debit card transactions promote but every time you use your debit card 1% to expect pretty darn good deal. And you have to sign up for electronic statements. Now the leader bank is a very innovative financial institution. You can open up one of these counts on line took it's not around the corner from me you can open it up online you don't have to drive to your bank branch. Open up an account online go to leader bank dot com to open up the count or if you have questions that you just heard me describe this success. I got a few questions of my own Armstrong didn't address just give a call their phone number is 877691. 7908776917900. Peter bank dot com is website. Phone number 8776917900. Now if you were called Larry couple joined us a few weeks ago. And I think he was rather hoping. That. The president would. And owed back off of the health care issue and get the tax reform first. Now that the senate has it in their hands Larry very close to the Republicans that he's he's a consultant. To the senate Republicans. He's gonna join us in the next segment where and ask Larry. What he thinks the Republican senators will do to the health care bill will they would question I have rulers is there any possible. They get the Republicans and the Democrats to work together. On health care bill I doubt it but I doubt very highly that will ask him that and a lot more from aren't sure match dot com studios. The battle over the trump agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here with Barry in shock on the financial exchange radio network. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's say 4499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Laker bella 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 made 4499. Match or go online and ensure a match dot com. If you 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 called out 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 officer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are unaffiliated Barry are strong here. I'm joined by Jake too 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. What would 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 home buyers what we are telling them are a couple things one. Be patient. Yes you know we we see a lot of first time home buyers who are making five and fifteen offers some two for fighting house now and offers except it's extremely competitive okay. And so they have to temper their expectations. Oftentimes your they're paying more than the other half to. Pay more than the asking price and a yeah it is quite common right now and and in some cases they're actually having to to research other towns rooted in. Considered first because. You know it's very pad 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 so we're really excited about this product we just launched it is called leader thirty. And essentially what it is is that fixed rate loan from where if you sign up to pay your mortgage automatically electronically and everybody does for the first year. You get to lower your interest rate payments 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 digital payment relief for your moving expenses that you still have the security of a fixed rate mortgage. When I bought. A home. And when I've refinance my properties have always used leader bank they're terrific bank you can call them told free. At 8776917. B 900 or visit them online at leader bank dot com to learn about their mortgage programs. 8776917. B 900 leader bank dot com. I like talking to a person face to face him a call 87769179. Country. Barry Armstrong there. Chunks. Breaking business news every day right here on the financial exchange radio network. The healthcare bill that made it through the house is getting a lot of media attention not much of that is very positive. We're joined now by senior contributor to CNB CMR Larry Kudlow. Joins us today opening to explain Tyler Perry who. So what are your expectations I know you worked very closely with the sept. With what will the Republican senate due to health care that there are just wondered. Larry yeah I articulated the eight. Well no. I just as curious as to woo what do you think they the Republican senate might do with the health care bill. Well they're going to be I'm senator McConnell is. Putting together. I sort of working group they're gonna I think bypass the committee process regular committee process. He's good at taking people. Including Orrin hatch had a good it's a great read and think it could take moderates and conservatives. There have been cash out pay out at credit bill. Eight you know it's going to be tough it's going to be difficult. This seems to be already. Negative major disagreement is a cap. I dedicate it at that it speeded this agreement or. The length of time. That the federal government would underwrite a 100%. Medicaid payments which a lot of states like Ohio. And senator Rob Portman of I was complaining about this. You know they bought it as a percent cap governor Jon K quick. Set to expire. Expired this year maybe next year. And federal funding so that an issue. I did that I don't know. You know I think that analysts delegated all law a important issues mandate to strictly the essential benefits. To these state you know. Federal. I think that's to the states want flexibility. And that includes. A lot of the issues surrounding. You know people are sick as the so called prior conditions so. I think Connecticut the big stomach bug I think it is very doable I think that house that built finally got it together in a perfect. But it's good. Public goes. 70% of the way toward reform could be getting. What do you think they'd be health care and gets done before tax reformer after tax reform. Oh I think is can be done before you know it is whether I like it or not that I wanted taxcut burst. But whatever whatever I wanted. How there's got to play and it is pretty much sucking. They'll all the oxygen out of the air right now yup so that's a done deal you're gonna have to get through health care. If it's negative numbers issue is just the fact that aired by self focused. And the GOP out and wideout that it would. I yesterday so yeah that. Is gonna load that there's been a lot of Patrick pork back and very important yup we didn't talk last week but. You know trump is endorsed basically our campaign tax cut plan and the war in. He position. Steve Miller and so forth. That's going to be their basic document 50% corporate tax which allowed I think he you know it was a dramatic statement. And there will be tax reform activity going on either while the that is working. Without Prado the house freedom caucus for example. Is gonna come up some ideas so that's all good but you gotta get right now what legislatively politically you've got to get help burst. OKC get the health care done. Is tax reform done in Q4 of the when he said. As a a good question. I hope bits and yet I really do you know and I think it possible. You know obviously we've wave they've waived the August recess. Benchmark. But it could come back and do it the ball yes could that could be a lot of work going. You know are about to board below the board if you there's going to be a lot of work inside a lot of work outside. So I hope well I think that importantly for investors. Whatever they get this thing through and I'm very bullet that they go to get it through. It's going to be retro active than me what what I keep hearing from people that that I. Spent some quality time last week what I. Keep hearing it it'll be affected kidwa at least seventy though I hope they stay with that. Could that be a very big plus otherwise. I would delay affect you know economic activity is is that the and so forth so. Let's hope so but I I think you know if people get so bearish. After the how health reform broke down a couple of weeks ago but the bearish. That said there I spoke to house Republican practiced this. That it Republican luncheon and spent the on the west wing and no but this is about this whole. This story right. Good week I haven't read anything on repatriation Marie says hey if you read it it's 10%. Well that's going to be the or Mark Kirk from oracle was six cent eight was yesterday. They do that we're gonna bring a lot of money back to you know it's it's a mean you're gonna have potentially. Two or three trillion dollars come back into the United States as a result of repatriation. You know what the law went 200. Below it two trillion so you don't let that for argument sake get 10% to a billion dollars. That that that. GDP will bet that that the business investment will. They saw it announcement from apple in cook they're gonna. Apple intends to plow at least two billion dollars. The brand new investments. In the USA data that's the kind of thing you'll get. Across the board and I'd love this story. And on this as we quit a bit earlier in the week in the Wall Street Journal. How China. Is worried. That US tax cuts will pull it back the from chided that you went ahead. I thought that and I think that I go yeah that really. And while it. That's trade protection you know at least two American businesses. Let them keep more of what Bayern and more. You really can't let you know at the world about protectionism. I'd lad I've let that story I tweeted that two week it's open important. So that showed you the potential there and I think trump is right it actually going to be a much bigger repatriation. That we. I I agree thank you very much where we appreciate your time. That's Larry Kudlow senior contributor to CNBC joining us on the financial exchange and you know the the number we actually haven't and our new staff today we went through we we have a list. How much cash. These companies are sitting on overseas Microsoft has more cash than anybody else I thought that was apple but it's actually Microsoft. Yeah I mean you you look at the numbers that are sitting overseas and again. The estimates are somewhere around 2.5 to two point seven trillion dollars and and even again even if we just get a fraction of that backward to get a hundred billion dollars back if you can invest. That's real money that you can put back to work in the net that as a measurable effect on GDP. What they date. Critics of it will say well all they'll do is buyback Euro stocks also up the stock market goes up right yeah it. If well if Microsoft buys a billion dollars worth of its old stalker ten billion dollars worth its stock that you Microsoft shares and increase because of the fewer shares. Outstanding notes. Repatriation as a major component of the tax reform bill. And what thank you all for tuning into the financial exchange this hour right now the Dow is down 21 point 1850. Got a long way to go when we come back. Will be talking about media stocks and why the decline. Yesterday in that more from our insurer match dot com studios. If you worked hard for the past twenty years and enjoy 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 called out to get your free guide understanding traditional higher -- 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 are with the 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 rate on hold mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 877697900. That's 8776917900. Or visit leader bank dot com. Member of the SE equal housing lender and Miller is number 449250. Subjective credit approval leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage 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 that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today. This is the financial exchange with Barry Armstrong and showed sound. You're exclusive look good business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Valerie Armstrong and chunks. We only get a job report once tomorrow comes out on the first Friday of every month at 8:30 eastern time. And it came in at 2111000. Jobs created in an unemployment rate. A four point 4% that is the lowest it has been in the unemployment rate the lowest it has been since me. Of the year. 2007. Hi everybody it's very truck with you here on a jobs Friday and you know chuck you gave they agree to be either reported that B grade I must suffer from grade inflation because I gave it a grade B plus but golf. Nonetheless it's a pretty darn good job your. It's yeah I say it's going to be B plus kind of in that range I think it's it's a good not great report that the two things that are still. Slightly concerning labor force participation rates still not quite as strong as you want it to be and wage growth not as strong as you want to be a lot of the under on the other underlying data. It's pretty good I like the fact that the U six has come down we're now only about it a four point 2% spread. From that headline number the U six down eight point 6% from eight point nine or making progress in that under employed segment of the population. But it it's still we're just not quite bared it doesn't seem like we can quite get the full speed ahead. It's very consistent and I'll I'll tell you that march number just looks like an out liar at this point. So jobs continue to be very strong. The the big thing right now is look at if you come in the day before the jobs report and he says it appears to be a 150200. Jobs created 200000 jobs created without. Even you're looking at anything pretty good chance you gonna be right if that's that's kind of that's kind of been what we've done the last 45 years now and we're just continuing along at this point. And in at the jobs that kind of just coming along right now. Well I'll tell you an industry that is not coming along and that would be the television there's too. Yesterday media stocks took it on the action and talk about companies like Viacom and in BCC BS ESPN we talked about it ad nauseam and you know the they've long and the short of mrs. I was a trend setter several years ago I told everybody to cut the cord. And evidently to people started it was at 762000. Households. Cut the court last quarter. Yeah I'm gonna become the court about a month and a half. You know what when I move by will be cutting the cord then. And if this is something that's accelerating these people are waking up and saying look. I don't watch that much on live TV right now. I'm much more content I can just get Internet I can do who likened to Netflix and instead of paying you know 150 dollars a month to have two TVs on. But I'm paid 6070 bucks a month owlen. And it covers everything that I've potentially need and I'll tell you. It's people are just waking up to that and the reckoning for media companies it's here. I mean it's it's aids it you know longer saying oh it's coming it is here we saw this with ESPN laying off. High profile a lot of high profile names it is the days of cable companies being able to do whatever they want charged rights fees of whatever they want their dawn. You don't chuck texting you mentioned that I'm working in New Haven, Connecticut today and I had. A chance to talk to one of our listeners in Madison Connecticut just night. And what he told Williams whose previous bill these previous cable TV deal had been 262. Dollars a month. He cut it back and he said all I got was high speed Internet he put an antenna on his own this house yup. And he's got Netflix so he went from 262. Dollars a month. To about sixty dollars to saving 200 dollars a month I'm going to be going from about 17 lead down to seventy myself so hundred bucks a month. Now back in my pocket. I I think that trend. You know I I don't know how deep it goes. But you know you see evidence of that based on the actions of ESPN last week a rose last was last week Italy before they laid off hundreds or. It didn't yet it was last week beginning there. And and look they're not going to be good can be the only guys that are doing that but I don't more common apparently there there is. This is going to be ESP and probably the biggest culprit because they detach all of this money and and they've spent all this money and rights fees and this and that and they just can't afford it now. It's is that they just can't afford it. But it's. Then the reckoning is here for media companies we saw this with print media about fifteen years ago this decline that started around 2000 and continued. You're you're talking for for cable companies right now from media properties. That reckoning is here. If it is in it it doesn't seem to shall it. Any signs of slowing down as a matter of fact. In the first quarter of two when he sixteen yet about 200000 cord cutters in that that's how many people cut the cordoned Q1 of last year. Q1 of seventy. It's 762000. People cut the court I mean. You at some point he's got to be anybody left to cut the court but you'll remember that that 762000. People that cut. You know ESPN was getting some from everyone's nose and you know was CBS was a few dollars and NBC was getting it now they're getting nothing. They're getting nothing to say the big got fat dumb and lazy or able to overcharge for so many years right and there was no competition. Now all of a sudden people say. You know his back when I was a kid that's who we had we had an antenna on the roof annually got two or three channels with. I was talking to someone a couple days ago who was they had been a Comcast customer for twenty years and about a year ago. They cut the cord they said look I'm done with this they they were paying at the begin with you know 200 bucks a month. And they've gone Comcast has said look I want a deal to me nope nope can't do. Comcast came back they were it was maybe a couple weeks back. Comcast guy comes by the guy's house and says hey you would just didn't you know coming back will give everything that you had before for seventy dollars instead 200. And the guy says you tell me that you've been overcharged me by a 130 dollars a month for the last twenty years. In the sale McCann looks at MacDougall. That's out I said he goes well that's what it feels like Dubai and it's just like you feel like you've just gotten ripped off and it like when they come back in making those offers you sit there are nearly. And why would I ever pay more like why would I even do this you just feel ripped off and it's as you said they got fat lazy and happy and the reckoning is here and and I couldn't be happier. Well the thing it's the apple over struck as they've got the cable coming into our house for now. For now and but we still need them for high speed Internet in island and for me it was like an extra five dollars a month. It and I I I told everybody to cut the court I cut the cord. And then I couldn't get decent Internet speed without having a cable TV package and that's the game they're gonna play each pixel. They're gonna let you you're gonna cut the court in and believe and have for you're right Internet podcast to build a satellite right in my head and just being right in the matters here you're what do you happened you're in new movie Comcast know Verizon I don't believe in Comcast I think that they are the worst customer service company okay see you're gonna have horizon you know Verizon's and did. They're gonna say with Chucky eagle by your TV services we're gonna die out your speech to council he can't watch that go over to someone else for two years and bounced back and forth there's there's ways to play the game I don't mind playing the games loans that keep costs down. That. Oil slipped below 45 dollars a barrel yesterday. And you know you and Mike were talking about commodity prices earlier I applaud or oil prices that what makes me worried is. When you have commodity prices declining likely happen. All year long makes me worry that we're heading into an economic slowed because that. That's what lower commodity prices means is no demand for koppers of copper prices declined no demand for oil. Prices decline you'll like that people like if you lose your job because. No it it in I'll tell you the the biggest concerns for me yesterday it was just a broad based sell off in commodities you talk about iron talk about robbery talk but all these different pieces year. And it it was not pretty. When it was salt when it was all said and done and I'll tell you that type of movement. Is something that can sometimes signal that things under the surface art does Rosie. As they appeared it's not so much that they're not rosy in the US I think that US picture. It's pretty clean actually the auto sector I think is a mess but that's a relatively small piece but the rest of the US economy epic is pretty clean. Well and you see the auto sectors mass. You know you might go from seventeen million sales to sixty. It's not like here it goes up and Dallas I think we're going below that but it's not like 2009. Went eight nobility here you're gonna have a decline. But it's. In addition to driving and I with the cars I think you can retrenchment when he percent to fourteen. I think you get to Orlando in win. Twelve months. Don't you to see you think he will hobby cars give equal so in 2070. Seventeen I think would probably do around sixteen to. I would agree that it's a you're thinking in a teen and cannot I think they need to be somewhere around 1414 half. And look at each of the week. We told the people people like holding on the course longer like a sick people draw I talked to more people driving cars 200000 miles now than I ever did before. An accent so the yard drive that soccer into the ground right you know his son's driving a cart 150000 miles on his attitude is. Dad drive this thing to die it's nice having no car payments please no value to it. If you're driving the car 150000. You might as well take it to two under just. You hit yea exactly if you wanna sell it at 150 it has you wrote about it's all surplus value at that point yet it's it's free money in my it is what is driving until the engine pulls out. I guess that makes us or if I want my son's car. I guess it is and falls Idaho by granddaughters of the car. That that things. Well I didn't say anything so I'm just gonna punt on the outlook. I wanted to talk about shake shack let's talk about shake shack. The the worst news for our restaurant or retailers to see their same store sales. Flatten out or decline shake shack shares are up today which really weird. But their same store sales decline by 2%. Yeah and not as bad as people expected. And I think that they were well if there's one investment bank yeah this bullish report what shake shack and exactly it's of the stocks up seven and a half percent on this news here obviously. I think that you know you you certainly have some concerns about same store sales and it is a metric that you do want to pay attention to in the long run. If shake shack is an interest and company in and I talked about it before because the companies owned by guide named Danny Meyer who has spent his life in the restaurant industry in New York. And he specifically doesn't want shake shack to expand to rapidly because he's seen other businesses that have done that that have failed. In the past so. You know six I've invested in them at one point I kinda pulled back once I saw that they were gonna follow through on that the stocks kind of been in the mid thirties for the last two years now hasn't really moved a whole lot. So it kind of ping pong around between 32 and 38. I don't know I mean it's it's not a bad company I just wonder if it's a bad company for growth. Even though the stocks up to. Let's it's priced like liberals that growth stock right of same store sales are down two and a half percent that is not a growth so you know Starbucks. You Starbucks if they get less growth than 4% their borders freaking out. They this is a company that's shrinking finished their franchises shrinking. It's also the thing you got to remember with them is again I like Sheikh Jack Burger's. But it's it's a competitive space and I would not put shake shack by the shake shack and five guys right next to each other I go five guys ten times out of ten. The United States is falling behind other countries like Canada. On marijuana in the next segment we're being joined by TK do Beattie. We're going to be talking to him about what candidate is doing with their marijuana industry differently. For what the United States is doing with our marijuana industry that's next for mark sure match dot com studios. Armstrong here. So I'm bringing you the best in business and financial news every day this is the financial exchange radio network. Hi this is very Armstrong planning for later 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 trust that exist 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 in 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 insure a match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well should they 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 -- -- the leading carriers in the industry Laker bella 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. 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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 he. You've 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 called out 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. Security suffered a 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. The financial exchanges hello. I live on FaceBook so make sure like your agent watched you guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. And then come from it and. May I. And this is legal and about seven or states recreational. Marijuana legal at about separate states throw our country and then medicinal marijuana advocates 29 states. In Canada it's they're treating it a little bit differently and we're joined by IT. To a baby from cave to kind of get an idea as to what how they're handling Canada's industry in Canada. Differently from what we're doing in the United States I take are you. It ain't happy I'm glad to let it so talk to us about. You don't medicinal and recreational marijuana in Canada. And how it's being treated sources the United States because it sounds like you guys might be 510 years ahead but with the US is doing. If you I've not heard despite tenure at a different. And down and hopefully that differences there are are evident. And how are they don't. The one of the things I'm not medicinal perspective which has started. A few years ago is everything it or regulate them the federal government. Not a provincial level and federal governments whose what is and the other likenesses. And the and the not so it is producers and those producers are the ones who actually betting scripts. There at the patience to adopt here's. And they feel the distribution. Well there is there is no this entry model first day lately look at when we look at the model. And we at least I got to be actually. The very different that I mean it it's control and it more easy to regulate at Maliki police. Are they giving money that's revenue secretly giving tax write in York as Canada loves to tax. Absolutely and it there's been great revenue coming back they'll. It's and it's one reason why in having me he called it can make sure they're right these are opting in the way they want to happen. So is it a provincial tax and a federal tax in Canada or both companies who have had as the taxation. Maybe it. It lined up in a combination and that I producers well we'll bring about that the government is properly distributed. Now it that the patient are not seeing that though. OK so there's no tax on medicinal marijuana centers and. There is when I'm pleased provocations it didn't hit it into it in their dispensary and or not they're not looking at a I'm not perspective we have. That the their act as for Graham and the art of merit commercial and back. So he's got pretty. These these recreational camp of this throughout Canada now how does how does is is out and while it is. So we know will be announced at a federal government or not bird next July you're gonna they're gonna have a lot they. But it decriminalization. Iraq richly. And what they're doing that a little bit different and allowed each province the despite. It it looked like the eighth and how they're gonna the state and how it. Implement them at the regulation. The marijuana at least he's. Let's start new federal Ers back that the goal of provinces. OK now let's get to borrow a lot of departments there's only one that this country mile and they're looking. Leveraging the way to that. I am airlines are he'd be distributed today truly producers and videos the other other dot agencies like a liquor control board. Or that drug sort of figure out how to distribute mechanisms are going to work. And Tiki how much federal taxes they're going to be on marijuana in candidate next year. I don't I don't have. No that's completely been settled. OK so we don't know and then the provinces. Which it is province in Canada is like one of our state they'll have to react taxes as well where. Got it up. I got an apartment and carry on it served as pat the combination of federal provincial if they're eucharist. What about or alcohol tobacco and might be different but that's not but he is an upbeat and sorted out. Now Canada is doing something with their industry as well to in order to become an exporter. Of campus in this specifically to Germany. With what is that all. He. I I'm not an expert in that I have but what we do not like in any attention to is. Looking we were in licensed producers starting to make investments. And it try to be able to export there either cap that. And you know in and having those treaties with that the government could exit and are expected to be quite difficult of course there. Drug that. I think at that become more of a controlled substance and elected their place. We're we're seeing a lot more discussion on how to do that went several jurisdictions currently being one of them. Does the pharmaceutical. Industry look at this as a threat. We we are being absolutely look without the threat and the reason why our company visit to actually start looking at. How we can come out of this works. And treat had a bit as if it was a pharmaceutical. They'll weaken. We can get the data not only did elect has produced but also are pharmaceutical court I don't get their toe in the water understand. What they can do in the space out they didn't and how they can treat it like one of their drugs. And we feel that that's going to be one and adopt the lack of clinical data. That that. People aren't even sure if destruction be described it late edition are confused patient on the the past brains. But it should be. Purchasing and I were trying to really figure out things like that pharmaceutical company what is let's make sure that they are concise information out there. But let everybody informed decision absolutely at our principal. But these are looking to be but what happened back then the other going to be able to participate. Brigade teak thank you very much for your time we appreciate it. You know only the marijuana. If it's just becoming more and more prevalent in its I don't think it's gonna Google and opening Jeff Sessions and Donald Trump are going to. Tell the states that they are not allowed to sell recreational marijuana so trying to get our arms around that topic when we come back. We'll have a trivia question for you. But will also be talking about Cigna. They peaked on earnings that announcement came out early this morning we'll talk about that and more from our insurer matched dot com student. You've got a barrier and strong financial exchange. 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In the election 1940. Our text number 68680. First listener with the correct answer to that question will winning 25 dollar gas card. Who was president Harry Truman's Republican opponent in the election 1948. And again tech's number in studio years X 8680. Let's talk about Cigna to I see their shares are rallying about one and a half percent and they beat expectations. Yeah beating expectations due largely on the back of their commercial big news business here. They are 277. A share above analysts' estimates of 245 to beating. Pretty significantly there consolidated operating revenue up about 5% also beating estimates slightly. So in general. Pretty good quarter for the stock probably not up to much there just because I think. There's still some uncertainty about what the health care landscape is going to look like and I think analysts are kind of trying to figure out how to price these stocks but a good quarter for the nonetheless. Is you went when we look at the French elections. Is the market is the stock market. Pricing in and crawl on victory yes. To what degree how how certain are you. How certain in my after what happened last year I don't trust any election and Phillips Don that's pretty much my stance I just off poll below and I I swore I'd never quote another poll that. It says he's got a 24% lead over Japan I don't doubt that that whole set of put again and until it's signed sealed delivered I don't believe. Anything until it's actually done so I taped up pretty much any election with a grain of salt right now. But the polls do show a significant lead former crone overlook Penn but again after what we saw in 2016. I am policing zero bats on the outcome of this just because. Who knows. How dumb is Delta Airlines. The pay scale of one to 1012. I mean is there are these airlines undermines the people running the airlines she issued Albie. Fired and it's unbelievable they they tell everybody what happened this Delta Airlines service you're talking about. You know a couple weeks after they beat the hell out of doctor now that cost millions to United Airlines now a negative Delta Airlines who have the same thing to a young family. Yeah what happened was it was a family that has a couple kids won his two year old the other was teenager. And the fairway it originally bought three seats on the plane one for the teenager. And what happened was a teenager and able to catch an earlier flight and so they did is they said okay we're just gonna put this two year old. In the seat that was intended for the teenager well they never checked the two year old in so there's some blame on the family like it's not clear cut if they didn't have a ticket for the two year. I'll say. But what happened was dealt a pretty much said look you gotta put that kid on your lap. An attorney in this whole big thing with them arguing saying oh we're gonna kick the two year old off the plane and the families like what he can't sleep at two year old at the airport gives you can't. I just wonder how they're not being like an internal memo every airline that's gone out that says when in doubt. Don't do anything and just go back in like figure out how to do wood in private lake looks like. Even if you're going to take these people off the plane. It would have those discussions are private say look like we we can't do this year we need to figure out how to do this somewhere else his you have to assume. This is all being videotaped now lake the number one if you are a customer service business. The number one thing that you have to tell all your employees assume you're being videotaped at all times. It just all times. Nuts day and if this gonna cost them it's gonna cost them money. Right because if you're that family you know you need me. Is it got off the plane that. Yet thrown often they walked or girl lawyer and in their they're gonna cause think it's gonna cost Delta Airlines and other prominent lawyers on the plane handing in cards that only when you're done. We'll see Aussie on the other side. Like many of you I've used ordinary toothpaste for many years but I found a new product that is made a major difference in my life in a note can do this entry. It's called avionics dental jail. This ground breaking new dental jail is taken the industry by storm because not only does it lessen the risk of gum disease and gingivitis. It takes great and reduces plaque on your teeth. Better than any toothpaste that every news. What I did take better care UT. By brushing with with the onyx dental jail your teeth will feel as clean as they do after professional dentist visit. And it's powerful anti oxidant protector overall oral health order right now by calling 44. 8789423. Hits it 44. 8789423. Or visit best dental jail dot com by name Barry. And receive a special 10% discount off of your first purchase. Libby onyx will deliver the results in need trust me I know 8448789423. Order online at best dental jail. Dot com. Yesterday Turkey alluded to the slowdown in the automobile sales we talked about it earlier you'd think that he goes lows fourteen million. Not sure I buy and that I I think here. Based on the each of our fleet I think you'd you'd hear that fifteen to sixteen million range in whites either. But Ford is laying off 130 workers in Ohio my guess what we may see a few more of these announcements in the coming months. Yeah at Ford are laying off these 130 workers that are largely on the -- lines that produce the F 615 at 750. Hi Heidi heavy duty pickup trucks are largely used by big commercial buyers. And you know what's interesting here is this the market talk to taunt about this particular market but it is interesting that they are you know kind of guiding the there's a slowdown happening here is well. I'm down for twelve months and around these big trucks referencing yeah been on the decline. Yet have been on the decline for about twelve months at this point. And so obviously it is cause for concern for Ford taking a look at the overall numbers that you have here. You know obviously at one point to go back to October 2015 just talking about car sales in general. Car sales in general at that point yet about eighteen point five million was the annualized pace that you were out there today. March 2017 we're down to sixteen point nine it's already. Just in the last two years you've seen about a 10% decline. In the overall sales numbers for vehicles. I think that you go a little bit lower here and I wouldn't be surprised if you see an additional 10% somewhere in that fourteen and a happy you know fifteen million range. I don't think that's necessarily out of line there are so it's it's interesting. When you look at it in when you look at the numbers overall. You know there's there's just not a ton of room I think on the upside to move there. Men and fortunately I just kind of think that's the deal right now I think we're probably heading into. A little bit more but decline. In those numbers here turning over to watch talk a little bit on IBM. Warren Buffett announcing that he had sold a significant portion of his IBM stake about a third of it to this point. IBM on this news here. Is down a few percent in trading today IBM obviously. The first technology company that Warren Buffett never invested in but down about two and a half percent on this news right now so. Clearly. The company feeling a little bit of heat from investors with the announcement of Bob Buffy leaving there. And obviously that's something that they're gonna have to deal wit. As they continue to try to right the ship at IBM. Remains to be seen exactly what type of changes this has for IBM in terms of their overall direction and guidance. I don't think we know right now if they're going to make any significant moves. As a result of this but obviously IBM stock in the short term feeling a little bit of a DP now okay. They how much TV at declines it is 4%. The broad a little bit back today the Dow about two and a half right now. Suited if come off the bottom a little bit they were down as close 153 to now backed up to 15513. But obviously. You know this the company that has been in transition the last five or six years. And you wonder if they have to change course again and can figure out you know where they go from here. What about leadership. Junior Romany yankees the twenty quarters in a row they betray him. You can make a case that she probably. Doesn't have a ton of rope left at this point she's probably when did she take over as CEO for IBM. Against eight to ten years ago it down 2.4 percent for an Iowa yes it twenty elevenths it was about six years ago. I mean I think it's probably got another six to nine months and then at some point it's what you're just not doing. The job that you need to be in order to lead this company to where it needs to be. Is it the old side of the company in the new side great ND you know get in the old citing shrinking in the new site just isn't growing fast enough. They did to make it very in simplistic terms yet it's just you're just not seeing the revenue growth that you need to from those new businesses to offset the decline on the legacy business must confess I sold my idea shears last year and as a firm. I think we sold ars what last year well aren't yet. They coming up will have the answer our trivia question for it will also we joined by Paul Monica from CNN money's gonna talk to chuck. A bowel. Apple. When a truck favor companies that's next remark sure match dot com studios. Problems. Bringing you the best in the business and financial news every day this is the financial exchange radio network. 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Many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and caution come down solar incentives seem almost too good to be true yet if you talk do 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 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 experts 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. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and Miller 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 -- being -- imagine agency can prepare personalized plan that gets you the best coverage at the best price -- insure -- match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry 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. Security suffered through securities America ain't member finreg SIPC and advisory services suffer through 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 club carries brigade. Log on to financial exchange should dot com and sign up today. And we are every Friday we're now joined by Paul Monica from CNN money. You lot talk about a couple stocks editor talk about apple today Paul thank you very much for joining us thank you appreciate it. Paul looking at apple obviously. You know big quarter for them coming in well below expectations in terms of number of phones sold out pretty much saying people putting purchases off until this fall. Do you believe that. Yeah I think it makes I mean there has been so much hype about what. Potentially they knew I whether they call the I donate the report Andrea acts is the tenth anniversary just you know the potential for some. Really a cool bells and whistles that would make it so much. War era compelling founded by the collapse once it's just been incremental upgrade. I can see why you know people are in no hurry to bind U I thought I'm I've for sale art. Is there progress being made by apple to our continued to continue moving towards. Diversifying their revenue sources there so dependent on the iPhone right now and they've been able to get away from that a little bit. Not that much just yet they still yulia are heavily reliant on the iPhone the iPad. That is a device that has probably seen its best days you know I I don't get bigger you mean I certainly beauty tablet as much as one might tip I used to in the past when that was probably new device. But I think that apple definitely. He's being aggressive believe more in Q. Your digital. Media of course with you know music. You know other things as well that that could be yet he'll speak growth opportunities go to war but right now it's still a lot in life is to rely on the iPhone but that's not the worst thing in the war and if you're gonna have a or stories at Kentucky Derby tomorrow night one that the favorite part one don't Oakland factory. Anything else that stood out you this quarter at all from apple. Yeah I think that you know apple continues to mean money they now have so much caption just thank the question what they couldn't do a bit. Especially presidential people who eventually get tax reform doesn't mean you could wind up having a big dividend increase even even more than that or done buy back as. Maybe even invest more in the US this and Coke recently into that they're going to. Very good Paul thank you for joining us today. Thank you appreciate it Paul Monica from CNN money talking about apple ticker on apple if you wanna look them up on your own is a a PL part of the break we've done some trivia the question was who was president Harry Truman's Republican opponent. In the election 1948 it was Thomas Dewey in 1948 presidential election is remembered for president Truman's stunning come from behind victory. Over governor Thomas Dewey of New York the defining image. Pretty much ever once seen this picture you've gone to seventh grade history is out Truman holding the front page of the Chicago Tribune up with a headline that says Dewey defeats Truman. After Truman had in fact one in the winner. On this question was wrong for Marion and Ron is taking home. 25 dollar gas card. The gulf in tribute today is brought to you by alternate energy investing in solar energy can save you thousands of dollars on your electric bill. Those dividends are not taxable. If you've thought about installing solar Eddie your home or your business. Call alternate energy and the give me a free estimate we can or how solar can work for you. Call 855912. 0115. Incident your free no obligation consultation today that 855. 91201. 15. Tim question for you do you have a a land line I don't know any intention of having away and never. Never never why would you. One American saying that to what we have Bob for the first time ever this according to US government study released on Thursday. Fifty point 8% of homes and apartments had only cell phone service. In the latter half of 2016 to for the first time. You have more households without land lines. Then happened 39% of US households have both landline and cell phone service. 45 point nine have land lines overall so you actually have some household that's the election are connected via phone which is probably the most shocking thing about. Agreement as an apple one really. Yet she's all cell phone also phone. It it's it's interesting you continue to see more and more people moving toward cell phones right now. I don't know fight ever Havilland I don't know if there's a huge use for at this point it seems to me. Somewhat of a relic it's just another number to remember to put in to your cellphone almost. And so I don't know if I'd ever actually end up having one. Down the road I know obviously growing up I had one in the biggest up problem that I had growing up actually my parents will test to was the fact that. Back then it was the days of dial up Internet access so if you were on the Internet and so was trying to call they couldn't get through. Which made for some interest in days and nights he's. Some other interesting stories that are out there Wal-Mart. This is a story regarding. Their continued expansion to groceries they say continued expansion they are the biggest grocer in the world at this point. What they're trying to do is there at the pilot programs. To put sensor technology. Into either your milk or into laundry detergent. To figure out pay. Maybe we can send you reminder that you have to buy new Milken detergent what they're looking at. Is if they get sensor and ads that take. Your milk is expiring we're detecting you know some some crap in there that shouldn't be in there they might Cindy appearing with his take your notes expired makes you stop by Wal-Mart on the way home by the way here's coupon for ten cents. I think it's kind of interesting or something where if your Turkey gets down to a certain level maybe re orders automatically get a delivery that was similar details. It's a little ridiculous I mean you can't sniff the milk. Drink it you know well whoa whoa let's you eat you always sniffed the milk before you finally drink every time I go to my milk I checked expiration date no matter like no matter what. Buying milk at a find out don't have it in my house that often anyway apparently you know I might have like cereal or something yeah I feel like growing up I used to have a lot just because you know I'd cereal for breakfast every day but. I don't really eat cereal that much anymore and so I find that the the milk supply that I have. P.s is rather inconsistent at this point and that's probably putting it. You know gently but I do think the idea of having you know something like this in you know in laundry detergent so it gets down to the bottom. You know maybe get an automatic re order. I don't know it's like it's it's lazy but it's. Effectively lazy I don't mind something like that necessarily. Let's take a quick look at markets year. Just as we start to get towards new right now overall not taking a look the Dow was down about seven points right now S&P is up about three. The NASDAQ also slightly in positive territory of about six points overall pretty flat pretty mixed markets today. Oil little bit of a rebound missed about a dollar bet to win two and a quarter percent right now. 4650. Oil. Gold also continuing to rally a little bit right now today. Very very little actually only about forty cents a year and a ten year US treasury has sold off this week remember we are down below about two and a quarter percent at the beginning. Now 2.3 5% to mortgage rates. Looking back all. Just a little bit. That is it for us for the day and for the week with it being Friday will wish you a very happy weekend for myself sucked out as well as from Barry Armstrong. We appreciate you listening. Make sure tickets out on FaceBook and Twitter and you've been listening to the financial exchange from our insurer match dot com studios.