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Full Show 5-24-17

May 24, 2017|

Full Show 5-24-17 by The Financial Exchange

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

And yeah. This is the financial exchange with Barry Armstrong and shops are. You're exclusive look at business and financial news affecting your day your silly your world. Stay informed and up today about economic and market trends plus get breaking business news and we. And now the financial exchange with the Barry Armstrong and chuck Exxon. Let's hope that you are not getting spoiled. By these low gasoline and oil prices that you've been experiencing for the last two years. If you know what I think they're about to start heading north hi everybody it's very truck with you here on a Wednesday. And you know we have the OPEC meeting. That's occurring now it's Indiana and they'll come out with some kind of an announcement tomorrow track but the more I consider. All the moving parts and all the money to be me with higher oil prices. The more likely it seems to me that we're gonna be paying sixty dollars per barrel by the end of the. This year. What do you think is the biggest driver there is it continue doc cuts from OPEC is it continued demand growth where where do you think the other big drivers I think the big driver and and we talked about this in the past is. Saudi Arabia. Is going public. And they're going public in at least at best of our knowledge they're going public next year we say Saudi Arabia what we really are referring to folks is aramco. But that is Saudi Arabia. I don't think they have any other economy does it is is basically one big gash they've pretty much I mean I think it's something like 95 to 97% of their economy is based on oil that the groups it's that it's not terrorism is so. Don't make anything else other than oil so. We week we're saying that Saudi Arabia is going public news fairly aramco and they're taking 5%. Of the company public and right now they're telegraphing that they're going to do that in twenty team. And I can tell you that IPO will be occurring in the United States why that's the biggest market who's going to be involved and Goldman Sachs Morgan Stanley Merrill Lynch all the big boys are gonna have a piece of this IPO. And there's just so darn much money. To be neat if oil at that time with the IPO the higher they get the price of oil. The more money they make of their initial public offering yeah there's nobody yet and some of what I'm referring to his plan that Stein. But I'm I it just occurred to me. There's just too much money at stake here to have oil remain under fifty dollars a barrel earn forty. There is but it's also not entirely up to them. You know the first thing that we after members that demand growth is pretty slow at this point you just not seeing the kind of demand growth. That we did through less than one sense it's it's right in that 1% OK so demand growth is obviously pretty slow to start off with the second thing that you're seeing. Is that. We've seen kind of the second wave of fracking revolution here in the United States and what that's done. Is it's made a lot cheaper to drill for oil and also has sped up the time from when you start drilling. Two when you actually have production because fracking seems to be for whatever reason. It is a more rapid method of tapping into those reserves you get production coming out more quickly so while I do think that you may see some sporadic times where. Oil rises above sixty and but it's gonna get to sixty or seventy at some point maybe you'll come back down. I kind of see equilibrium somewhere in that fifty to 55 dollar range what does he think if he gets too much above that there's too many eggs for in players that are gonna jump in what were you seeing enemy keep my US sovereign count as double what it was last year so I'm back to where was though 327 dollar for nobody doesn't need to be. You know. The other thing the sea and it yet continues to factory and we continue to buy more fuel efficient cars okay. If you look acts. The fuel economy in the US OK and we continue to see slight improvements every year now what would they find in China because that's what really matters is that. China matters to keep in mind the US has the oldest lead the world because we hold onto our cars forever and we've had more cars for a longer period of time China only really started buying a lot of cars. Eight to ten years ago. No but they're selling 25 million years so it goes to us assume I think fairly safe assumption might be that within. Five to eight years they have just as many cars if not more on the road in the United States and they are to your point. They are gravitating. Towards small fuel efficient and electric cars 8% of the Chinese wheat will be electric. Of the new fleet umi not of a beginning next year but a lot of the old we know they did they don't they don't trade in old cars and all of a sudden you're 8% electrical soak over you look at the the cars in the motorcycles in China they're already electric. You know they they're going electric much faster than we I think. The big thing though is you look at the miles per gallon that we get in the US and in effectively. What were actually getting on the fleet it's out there because again we don't turn everything over. Immediately. You go back to 1997 you know what the effective. US vehicle fuel economy was and I guess eighteen. Keep going down. It's less than eighteen. In what year 97. Fifty keep going down. Well you've gone down hole now eleven. So that this is include is this including industrial vehicles this is including all your industrial vehicles to the old this is when you factor everything school buses US wheat averaged eleven miles per gallon what are we averaging just when he left and the daily Tommy I'm sorry in 1997 prices. We're getting eleven miles per gallon. This is to eleven miles down when in fact when he school buses and trucks everything about eleven miles a gallon today Europe ram fifteen miles a gallon teaching about 40% improvement. In the last twenty years and it's still improving raided the trajectory is slowing down as an. No you pick up a couple percentage points a year pretty much so you continue to go out you've got a fleet it's getting a couple percent more efficient every year. You know that's something that adds into this even if you're adding cars which. I did get the report we're not adding to too many that are actively driving actually in the US though Turkey got to keep you here we're still the biggest user boil. I know that you gotta go look at India look at China and you don't if you had all month when he said China's go 8% electric I mean this is what I'm saying is. At the end of the day that the fleet that is making the most difference is the US once he's the oldest fleet in it has the lowest overall fuel economy. The other countries talk about China what gives you said they're gonna start shifting and in they're gonna start impacting overall demand. I don't. The EC I think we're in the sixty barrels sixty dollars a barrel and it doesn't go much higher in the I don't know if it does because I think that in terms of oil demand and to fit of peak now. I think he probably due to peak in the next five to seven years in terms demand because of alternate fuels. Alternate fuels ride sharing all of these types of things electric cars you know the move towards cities and away from suburbs and rural areas where all your all of these trains you know filter in and say look. That the growth that you've seen in oil demand and I can continue for and that's that's kind of where I'm mad at this point now that doesn't mean that you won't see short term spikes up obviously if there you know ends up being conflict in the Middle East didn't you know the strait of form is closed in this Ratner it's gonna happen. But I'm saying your long run equilibrium. Is 708090 dollars anymore because the cost of come down in terms of production. And I don't think demand is going to grow the way it used. Well I'm still of the opinion that oil will hit sixty dollars per barrel. By year end and still of the opinion that it will be in excess of sixty dollars a barrel win in Saudi Arabia goes public next year. Our poll question today is do you think oil will hit sixty dollars per barrel by year and 57% of you think you will 42% say no. And I'd sure there's a lot of people including my producer talkers over Hussein hey I'll I O Boyle goes to thirty bucks a girl. As he but yeah I guess I'd like seek a third. On the paddy patty your new home buying gas. I'm oil so I'd like I'd like she boy they'll give Iran who like cheap oil. My portfolio like expensive. To them like purple or what's your your hedged now I'm I am and that's right that's right and it. We got April existing home sales data moments ago coming in. At five. Point 57. Million that's the annualized pace of existing home sales. Missing our estimate. Of five point six by any thoughts on the yet missed by about one point it's expert or I'll start by about one point 2% here. What we're hearing from the National Association of Realtors is that the mrs. just because inventory isn't out there would they give us for inventory and bring us any hard numbers let me take a look and see if I can pull this is out the these. Story that I keep here. He news you know when I talked to my friends that are in the real estate business and it's all geographic range depends on where you wore you get out to. You know stir birds there's lots of properties available for sale you you're if you're in Hartford area it's funny stuff for sale. But if you are. Looking in the you know in and then it in the suburbs are in the city. Way can be tough to find. So housing inventory the most recent numbers that I have here. Are from march of seventeen I don't have that they don't give us the and obviously once you look for those sets that's now if you take a look at what's out there and this is from that report. It's about one point eight million homes available in March than. And that's you know down from about two million at the same time last year so inventories running about 10% tighter. Then it was at the same point last year. That's that's going to depress what you're able to sell it. US sues Fiat Chrysler over diesel emissions oh boy have we ever heard the organ. That's only a 104000 vehicles and and I was trying to remember how many Volkswagen. Had they had hundreds it was like. But yet this is the US Justice Department suing Fiat Chrysler saying that they violated the Clean Air Act and they're seeking penalties here Fiat Chrysler shares down about 4%. Fiat Chrysler said it was disappointed. In the Justice Department ruling. And intends to defend itself. But. You know generally when you see these kinds of things coming out the Justice Department. Making these kinds of statement and it's not that nothing was going something's going on they're gonna come to a settlement at some point. And figure out what to do here let's talk about the news the Jeep grand chair hearing yep it was DR ram pickup but only the diesel models and away from three years from 2014 to 2016 and effectively. What Fiat Chrysler was supposedly doing and pretty much the same thing Volkswagen did a we got hooked up to emissions test. There's kill switch that put out less emissions and then when the vehicles on the road it was actually. Pumping out all that nice blacks at that makes everything look so great. Tucker I'm gonna make two predictions in one segment I'll let me in my posts that are right right down to predictions first device that oil hit sixty by the end of the year he has Eleanor got it. And now on saying nobody from Fiat Chrysler will go to jail. Nobody from Fiat Chrysler will leave you detail about that that that pretty safe bet they'll think about that even though this is a joke the other is the part of the stockholders are gonna take it in the shorts right. Over this one. And EU's so stockholders get penalized when the executives Fiat Chrysler break the law. Just like he did with folks like these stockholders pay the penalty not the company DeVon at least they should. They should pay the they are the ones responsible for putting in proper corporate governance are they now have yet ascendancy the executives need to that it I think executives should go to jail took the blame to go round I think the shareholders should get punished with a stock price go down. An executive should go to jail have paid fines personally. Up next we're to be talking about baby boomers they are looking to senior concierge services. To raise their income. That's next from our insurer match dot com studios like us on FaceBook and follow us on Twitter at the end for each show. Breaking business news is always first right here on the financial exchange radio network a state. An asset protection planning can be overwhelming where do you start and how do you know what type of trust is great for you and your family hi this is very Armstrong and with numerous types of -- available a state planning can certainly be confusing do you need to revoke oval or an irrevocable trust and what's the difference between the two should you consider a special needs trust or like insurance trust what are the tax implications of each type of trust pushing and -- an expert in elder law and state planning has prepared a brand new guide called demystify and trust that will offer you a roadmap as to the different types of trust that -- and help you figure out which trust is right for you and your family call right now to request -- free -- 8668485699. That's 86684856990. Can also download it right now by logging on to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing home all the same time call now for your free guide 8668485699. Or get it right now and legal exchange -- dot com. 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. Some are even driving their electric cars with free power from the sun imagine three solar power creating our own clean renewable energy while leaving a better world for children and grandchildren solar is an ideal retirement plan you dig the state and federal tax credits now in your high income years and enjoy high returns for the next twenty to thirty years don't put off investigating solar the returns could be incredible call alternate energy right now that 3473085993. That's 3473085993. For a free expert solar analysis alternate energy has been serving new englanders for forty years call them today that 3473085993. Or visit them online at 800 DC solar dot com. There are strong here and I'm joined by Jake too who's a vice president at leader bank and we're talking about the housing market the housing market as you know. In 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 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 homebuyers who are making five and fifteen offers two for fighting house and offers except it's extremely can be okay. And so they have to temper their expectations. Oftentimes they're they're paying more than the other half do. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns and rooted in considered first because. You know it's very compact 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 tell us about 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. 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 gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses but you still have the security of a fixed rate mortgage. When I bought. A hole. And when I've refinance my properties of always use liter bank near terrific bank you can call them people free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Leader bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America income member finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's our daily poll question for financial exchange showed dot com. Vote your conscience and Arabs just vote go to financial exchange O Doug come in castaway. Are you looking for a home equity line of credit leader bank is now offering a sixth annual percentage rate of two point 99%. For the first six months. Then prize for the life of the line and no closing cost. Take advantage of this great deal right now by calling 8776917. B 900. Or visit leader bank online at your bank dot com rates are variable and may change at any time animal us number. 449250. Member FTSE. The title of the article is baby boomers look to senior concierge services. To raise income. And we're joined now by it was more who is the author of the article. And Liz thank you very much for joining us. Let's what are we talking about when we talk about senior concierge services. I think there are there. Look like re sign the workers are eight order but the people who hire them with a run air. There. They use. I hear dot area covered by your column year. And a third and model everyday at. That you're not able. I. So we're not talking about providing actual care necessarily but simply. Being able to run errands and do things around the house is that right. It right right that you are not. You. At Kyoto or not they're. How long ago did we start seeing these types of services springing up they always existed in some form an in the just growing now or what's what's the situation there. Well I think in some way insert these these right there and this is certainly family members of the occurring there are very straight. I in the unique Internet economy he. People who are getting older they're retired and retired and active and maybe make little money on the and on a line in and I companies and irony -- So look at the people who were actually providing the senior concierge services. What's the typical profile of someone who's going out in working in this field. I cut it come from all on the line O line up in it back and eat it and it seem to be people who are. Willing you eat cat. Number one and number is people who are really social wanna get out and in the eighties and meet people and an elect there helping encouraging. A lot they're neighbors. What does the what's the average pay you look like for someone who was going out and working. As a senior concierge. Sure you make a lot of money doing that at about one need to worry now at our. Utah at the lower end and and people aren't doing it well I'm not either really. As you know maybe few days this week or days a week and a regular client. And it's really just a little. Who really need help in the I mean it's erratically. Ye need to be in your thirties and and need but he CPU. At. The leg. I islet typical customer is Evan is in the big east and eighties and while the and there doesn't want to admit to a relative. Get help that layer it in the Libby Atlanta. In place but they need a little extra help they are not able to track anymore or they you know that he how the thing. That at a bank. Are any of these services are provided are covered by. Any kind of insurance policy like a long term care insurance policy does this fall outside of what they'll typically copper. It daily how old hat. At that even looking at maybe. It not medical care I ate it up every day. Oh. Looking at the the growth of actual businesses. That are developing in this industry now. How big is the average business how many people they have working for them in and what kind of structures their people this kind of freelance employees when they want to or is there weren't a set schedule. Yeah it's really. Seen. Or is really more like. You sign on that experience where you at network. That how I'm client. That you're not really an at all I'm Lee of the company and they are all at eight and even in the communities had. That. Philly conciliation and yeah I workers. And you pay at the coach and courier or that service and the people who live in the media want you. Goodwill Liz thank you very much for joining us and thank you all for the article very interest. Who is more air from the New York Times he's seen a lot of people do that type of work shark it you know the the may have. Been separated for their company back during the recession when I see a separate mean that can't during the recession. And at that time they invited in fifty years old it's hard to find a new job after a recession when your fifty years old. And so this is the type of work that I see a lot of people going into and you can make a decent buck the end of something you know it's supplement your Social Security. It gets you out of the house he keeps you busy and a lot of people are gravitating towards it took four. Right even if you're just doing you know ten hours a week at twenty bucks an hour now all of a sudden you've got an extra 101000 dollars a year and spending money you know it's it's not something that's GNU. Replace all of your income dollars on the could get you over the hump if you just need an extra 5600 bucks a month or something like keep you busy. Yeah it might be Sunday as the egg day I got the impression from the article that day it just. For a lot of people it's a social endeavor. I beat a lot of people would do this the Dreifort who were in retirement and it's a lot of that essential that wanna be out doing something and they wanna work on their own schedule and they coming up we'll give you a market update with Wall Street watch and then I've been approved TU. That millennium goals are. Horrible drivers that's next from our insurer match dot com studios. Making your Smartphone even smaller here Dell logo. Left by surging financial exchange killed in nineteen Jordan who will play in store this is the financial Lidstrom radio network. This is a special announcement for a landlords chasing down lead rent payments and making trips to the bank to deposit checks take a hassle out of rent date we've zeroed leader banks all mine rent collection tool he ran automatically deducts tenant's rent and deposited into your account visit WWW dug see rent dot net to learn more would you 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 -- to learn more or call 7816418691. If you work hard for the past twenty years and enjoy healthy savings account you're in a solid position to enjoy later life hi this is very Armstrong saving money for your retirement is half the battle making sure you leave it to the right people is the other half beneficiary designations are not an afterthought while most people try not to think about what happens after they die it's important to set up beneficiaries properly to ensure you protect your wealth my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designations because believe it or not there can be complications call now to get your free guide understanding traditional hiring a beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website financial exchange showed dot com. Securities offered to securities America incorporated member in SA BC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England 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. Summary been driving their electric cars with free power from the sun imagine three solar power creating our own clean renewable energy while leaving a better world for children and grandchildren solar is an ideal retirement plan you -- the state and federal tax credits now in your high income years and enjoy high returns for the next twenty to thirty years don't put off investigating solar the returns could be incredible call alternate energy right now at 3473085993. That's 3473085993. For a free experts solar analysis alternate energy has been serving new englanders for forty years call them today that 3473. Always by 993 or visit them online at 800 DC solar dot com. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that 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 of faster closing -- 776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval. Leader bank a step ahead 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 -- mystifying trusts which will offer you a roadmap as to the different types of trusts that exists and help view figure out which one is rate for you and 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 show dot com don't leave your family's estate and assets at risk call now -- 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 -- 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 in 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 lake 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. There relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. Affordable street watch a look at the market's performance so far today the victim Marian jog right here on the financial exchange radio network. Mike Armstrong joins us now. For Wall Street watching Mike thanks for coming on today. Mark carrier like I'm doing well markets up slightly is there anything it's really leading the way any sectors that are upper is pretty much across the board. He had pretty flat across the board were not seeing a whole lot of movement here in narrow Billy did you cease and is that guy US crude stockpiles fell by four point four million barrels do more than anticipated so he basically out oil prices and therefore oil companies with a little bit with an average. Couple companies reporting earnings prior to the open today Lowe's and Tiffany both of them down Tiffany down about 7%. What's moving both of these companies today. Yeah Saturday seemed consistent issues for them has received across a lot of brick and mortar retailers. Little bit different at Lowe's is more focused in the home sector which has been doing better but their profits were battered dollar resent verses of dollars six anticipated comps were up by one point 9% but it expected two point 9% so really just if failing to execute. As highly of their competitors' stocks down about just over 4%. Bigger issue for Tiffany's you know the the company that really struggled last year as well be replaced their CEO and February. It investors might recall that they were having a lot of sales issues in there that flagship store which is located directly next to trump tower. But he had a gross margins were 72 cents selection better than anticipated but the comp sales fell by 4% domestically which was a really yeah backcourt. Order them and then the strong dollar also impact their business of their bit with overseas sales. Good Mike thanks for the time today. Mike Armstrong with Wall Street one time for trivia the Boston Celtics played in game four of the NBA conference finals plus that they did lose it with. It one game yes except to be fare carrier just went off it is reported there. In which year did the Boston Celtics become eighteen are text number is 68681. Listener who don't do it. It was the government in which here is the Boston Celtics become a team first listener with the correct answer. We NT 25 dollar gas card use Celtics into the answer that question again our text number is 68680. I've been complaining. About distracted driving and I really should be complaining about mobile meals assault when yesterday I saw one I this one I yelled at the world. She's on her fall did you hear you G which animal any usable in America. She's she's driving through our town I yelled get off I was just on her phone she had her full use face time. Video of god with somebody. While driving down the street lights are stopped totally I counted on that over car accident that got ample at the fifth. They go out and go. He was not happy if I. If you knock it off the phone but she didn't she did he she drives down the rest this picked up another plug and she she's driving down main street unity of the cradle your fellow dancer she's got it she's video shot just talking well the Bluetooth she's been talking with them and I can see it shows up species to. I've been there a hole when yesterday I am on a straight Cigna over three I'm going convert three north. Cars pulled up next to me. Doesn't realize the car and I look over the guys Texan doesn't realize the car in front of him is slowing down slammed right into the back of whole front of the car catches on fire literally right next to me like the whole thing just goes up and play. What needles in your early twenties are riskier drivers note nobody knows more about this in the insurance industry and I'm referring to a survey was done by the insurance industry trade unions to name the company. On a percentage basis they tend to get in more accidents and receive higher propensity of vehicles citations. This according to mark map away from trades unions insurance business unit now I let me go one because they had on a soapbox here. Millenniums have higher frequency of traffic violations such as speeding and failing to signal in any other generation and this has been increasing over time. Millennial supersede the most distracted driving violations this includes things like texting and eating while behind the wheel and Edie was considered to distract the union have ever want to Sophie McDonald's. Now while driving I can do that without. It's being non that your eyes kind of glaze over you get this looking at food coma comes back that. Distracted driving killed nearly 3500 people at 2015 according to and its national. Association. Millennial settled more cars that have issues that it's typical because they're young broke and he were mean it's issues. But he nursed the things that the admit to. I beat these. Young colonials are more likely to text while in email driving. Now they did a survey it drivers aged nineteen to 24 years old. 66%. Of them said they have read a text or email while driving in the last thirty days. Go to the rest of the drivers it's 40% which is still way too high. Right and then they sent a text this is what I find mine. They've sent a text or email while driving in the last thirty days. 50% Heidi. How do you text while you're driving here is an easy solution. To this problem to rule out police officers to shoot the tires of anyone who was texting and driving or just using a a a device while they're driving if you do that and I should have been allowed if you advertise if you do that I'd I don't want you and I don't want you when firearm anywhere near I think I should he given you what firearms should not be here any just stand in the center town I want highly trained police officers standing there shooting tires left and right. They didn't get more ammo because obviously look at it 60% of millennial drivers you can mean more ammo this was right in the middle of our town we we have kids walk you through your Ross walks and it is really disturbed children nullified like gonna do it. Honestly you're right Tucker you're absolutely right it's got to be like to treat the tires they'll treat like a DW line. Thirty day suspension you don't drive you go to special classes entirety you lose your license in your insurance doubles to review than. To recover this in the that. There going to be police options like under cover yeah when it is how much time here and apparently that's a great that is required and answered the phone chew before you. Guarantee you if someone can't snap Chad anymore the typical delegate. That's enough yet lake. How easy it snapped chatting while driving it's like it's this thing would probably around in it's like. What's wrong with you stop dog is on yourself what you driving down the highway you're gonna get it crashed and oh yeah you did but it's just shortlist pocket to be that guy on the outer filed. If he's like fixing your hair so she looks nice if you stocks. Where we go on this is. I was wrong last year when I said the Oakmont was the end of the world via this is the front. Opponents people die if you look. You know we talk about the increase the talent BC and it's a 12% increase in personal injury those people getting hurt and all that keeps. Nothing to it if you want proof. Look at what's happening to insurance companies they're getting destroyed by the auto lines right now well and it's interpreting it to higher rates for you guys with their big mess and like 495 and Lexington this morning was the military completes now with three cars we're all wolves out from relate. 339 saw the slugger texting while driving it got away agree through my beer router if I hope or driving while on him when he may have been like at a roadside stop. Here blog on. But it's just like. Seriously like at some point lake. We just have to be like enough is enough in Atlantic mobile you don't wanna take away people's ability use the phone in the car we're getting close to the point where we've lost the right to do. We're at Dillard got to that the point you know it. Which should by the news if you were. If you're raising kids because that's what that's why I've got mad at this woman. Is I had my grandchildren I don't push him across the street in this struggle that you can hear that that's what set me off yeah. It's just it's it's unbelievable. We done. And until ma'am I'm gone for high blood pressure medication. Quick reminder that Armstrong advisory group during the month of may is giving away free guide called understanding traditional hire a beneficiary designations. It may sound simple but it is not and typically in a higher rate is. The biggest account you have right because your 401K it's your pension money. You need to know. Who to name as the beneficiary and with the tax ramifications are. Of naming different people as the beneficiary of your individual retirement how to get a copy of the guide. Well you can make a whole free phone call 800. 3934001. Its toll free 803934. Zeros or one or. You can visit our website financial exchange showed dot com we should check the poll numbers to bodily tuck. But anyway I go to the website financial exchange showed dot com or call Armstrong advisor bad 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are for their securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Going back to our poll question of the day which is do you think oil will hit sixty dollars per barrel. By year end 58% of you seem to think it will hit it sixty dollars per barrel by a year and 41% saying no. I wanna make it clear that. Generally speaking. I think lower oil prices are good for the American economy because it decreases our input costs that the it's like a tax cut. 40 for the middle class in the working poor. But I can tell you if you're an investor. Your portfolio has been hurt. By lower oil prices I look at shares of companies like take a look at the energy sector he could probably look at it in general but I think about companies like Chevron. ExxonMobil. British Petroleum and about some of the pipelines stocks and what's happened to them but think about Chesapeake energy and we're to talk about that later on the show but he. The app from a stockholders standpoint you kind of like higher energy prices from a consumer standpoint you like lower energy. It think the big thing is just companies that. You know kind of got a little far out over their skis speaking their prices were gonna stay high forever just beats a great example the LP back in 2014. Straight and 26 dollars a share. It went down below to last year because prices got so low and it over levered expecting energy prices. To stay so high. It's the classic case where you know when you get too greedy you know it's always look the bears make money the bulls make money pigs get slaughter but when your company get to piggy. Doesn't handle well. Up next we'll be joined by zine act Barney from Morningstar what do we talked about the US that would is that is about loudly we are indeed talking about action notices problem buffalo. Who. Well if your pet owner yet so tasty sometimes I need it myself they have countryside and confidence grows but. Anyway that is our next topic from our insurer match dot com studios don't. Battle over the trump agenda continues to affect the markets get the latest info on the sectors that are benefiting and those that aren't we right here with Barry in shock on the financial exchange radio network. According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional higher raise an employer sponsored plans hi this is very Armstrong it's great to see more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pass your assets onto after you die is an important part of elder life planning and my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but they're can be complications called out to eat your free guide understanding traditional higher -- beneficiary designations the phone number 803934001. That's 803934001. You can also download it right now from our website financial exchange show dot com. Terry suffered the securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 84499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for -- 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 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 84499. Match or go online and ensure a match dot com Barry Armstrong here and I'm. And by Jake too who's a vice president at leader banking were talking about the housing market. The housing market as you know. In short of supply. Long on demand. And Jake for first time homebuyers with what is your message to the young couple hours to somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling men are a couple things one. Be patient yes you know we we see a lot of first time homebuyers who were making five and fifteen offers two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more in the other half to. Pay more than the asking price and a now it is quite common right now in and in some cases are actually having to to research other towns rooted in. Considered first because. You know it's very iPad 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 that we are really excited about this product we just launched its cult 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 have always use liter bank near terrific bank you can call them pull free at 8776917900. 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. Barry Armstrong. Chunks not breaking business news every day right here on the financial exchange radio network. It. The. The formation of the Boston Celtics took place on June 6 1946. Winner on that question was Brian from Redding Bryant taking over 25 dollar gas card show as his prize. Our trivia contest is brought to you by insure a match if you're looking to update your insurance policies one cult insurer match we'll give you multiple quotes. From several of the top carriers and hope you make the right decision for you or insurance needs. Polish your match today at 84499. Match at 844. 99 match or visit them online at insurer match dot com time for a little bit of stock talk insane and are barred from morning star joins us now. Zandt thanks for coming all of us. Good morning veteran and then the company that we're talking about his blue buffalo pet products for people who aren't familiar with them what exactly they do. Church and their maker of premium natural it's so this is not the mainstream. Large bags. The product which you might hear a grocery store but it's something that's more geared towards a natural organic. You know free type of product positioning it on both the dog and cat side. And looking at this are people as crazy about what they feed their pets is what they're putting in their own bodies at this point like is this is this becoming like a big thing. That's absolutely right the given the station and demonization trends. Really defined the pet food space here recently. Particularly as pets really take the place of children either A in baby boomer households where the kids have been gone. Or B and millennial households that are delaying parenthood for economic reasons her other factors. And do as a result of that you're seeing a real. Situation where the pet food market as tracking the human food market in terms of people trying to eat healthier looking to products that are perceived to be healthier suggest there's natural organic and specialty items where blue buffalo plays exquisitely. Seems like they're grown pretty quickly as far as our top line revenue. That's right says they have been a very strong growth and that's partly because it's a relatively. Young company and so they've gone out of the bit of a small base in the same time that firm does about a third of the natural. Hold on the natural pet food. Market currently in terms marketshare number and so they're certainly a major player despite. Relatively young. Agents sold some room to grow. And looking at this company where some of the areas that they're looking to tap into an order to continue that growth any type of new expansion. Sure so. Part of it is just moving people up the value chain so blue buffalo even though it exclusively at premium product has had different tiers and so they've been trying to move people from there a lower margin dried food products into what. To him and also expand their creed offerings the other two. An expansion initiatives that were excited about our won their international growth opportunities as they look into other markets particularly Japan Mexico. Two gains some additional sales generally. Certain tap those markets and then the other piece of it is there it is expanding their therapeutic foods initiative. And that those are foods that are are dispensed after it getting veterinarians. Prescription centrally and we think that data initiative for both has the opportunity for them to play in a category where there really isn't a natural food competitor and then be also get to the advantage of ruling market and veterinarians because that's her obviously they can influence or pet food buyer behavior and so we think that'll help the entire portfolio. Are there any other companies that are out there that a major competitors in the space. Largest competitors are really the large. Pet food companies that have. Much more diverse product lines and they tend to play in both the mainstream and the premium side so good Smucker for instance with its big heart acquisition a few years ago to number the pet food brands from nature's recipe and natural balance at the high end on the kill that term Amex. The more mainstream here and also Colgate with the tackles in that massively with its hearing. Division and so. It tends to be a larger scale package to companies and ultimately that's one of the reasons why it was buffalo has tended to paper digital distribution and other channels apart. From the grocery store channel where those large the PG consumer package goods companies are so advantaged. Very good rules and thank you very much for the time today we appreciated. Thank you. Sam Akbar from Morningstar the company. Is blue buffalo pet products in the ticker on. Is the UF out and he said that veterans are are veterinarians are prescribing certain types of food. Yet depending on you know if you you've got a dog with fully gagged pastoral problems and stuff like that. Yeah I get a dog it's you know got the wrong as a Hamachi owing to consider this before he clubbed by dog you have much it costs for their annual physical 700 dollars. A 350. I mean do all the stuff that that's Archie. They're not sure how much here's an example of another example of the out coming apocalypse you know how much Americans spend on pet clothing per year raise the white Tucker. I know how much I spend one just one pet owner per year note that barrels in total how spend on that quote you know little raincoats twenty million. They're the million dollar industry in multi 1000001. Billion dollars a year and a proposal for sweaters for dogs. Raincoats for hack Halloween blurred two million dollars Pittsburgh with what kind of closed and his pet bird where. So obviously cutesy. Made its and it's remarkable what I see. For net expenditures and unity I thought we spent a lot of kids and reduce them on it that the amount of money being spent on taxes. It's just pain civil affairs we're just paying for love in the markets up or take it. Dow's up twenty you know 32 points in crude oil moving closer to my sixty dollar predictions trading at 5164. Per barrel. They fitting into this hour of the financial exchange from our insurer that got constant. 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 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 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 process and 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 your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's -- 4499. Match many of our listeners don't know home and one or two cars 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 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 than money with just one phone call and one relationship. Called today 844 and 99 match or go online. Fisheries truck I assume. That we should all be naming our spouse as the primary beneficiary of our individual retirement accounts and Portland case yet generally that's what we recommend and in the case of 401 k.s are actually required to name your spouse. As the beneficiary there so in general. Spouses are gonna typically be the first person that you name as a beneficiary on any retirement plan. It simply makes things the cleanest and easiest approach of treated happens to how has treated chuck if your wife inherits your IRA. Did she get to start taking the money out right away how how's that investment treated once she receives notice is why we say it's the easiest and cleanest because of a spouse dies and other spouse inherits an IRA or 41 K they don't have to start taking any distributions right away. Unless they're already over the age where they have to take them at seventy and have to begin all right. And so you named your spouses and hiring who beat typically name is a subsequent her successor -- picture lot of times what you do then you name one of the kids or both or all three however many kids you have and they'll be named as the contingent beneficiary. In the event that your spouse is pre deceased he's so it's spouse as the primary and then any children as the contingent. Very get. Folks we would suggest that you call in and learn about understanding traditional hiring a beneficiary designations. It's important to know who should be the beneficiary of your individual retirement account. Call 803934001. Or download the guide it financial exchange showed dot com it's a total freefall call 800. 393 forwards euros or one. Or as I said I need to exchange showed dot. Com securities offered to securities America incorporated member finreg SAP C and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Whether you're celebrating a milestone were diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value. Leader back a step ahead of state and asset protection planning can be overwhelming where do you start and how do you know what type of trust is right for you and your family hi this is very Armstrong and with numerous types of -- available a state planning can certainly be confusing do you need to -- global or an irrevocable trust and what's the difference between the two should you consider a special needs trust -- like insurance trust what are the tax implications of each type of trust pushing and -- an expert in elder law and estate planning has prepared a brand new guide called. 8668485699. That's 86684856990. Can also download it right now by logging on to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing home all the same time call now for your free -- 8668485699. Or get it right now at legal exchange -- dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance its all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and limitless number 44950. Subject current approval leader bank a step ahead. Many of you listening today are either retired or planning for retirement investing in the market can be as safe strategy to develop growing assets and income to help keep ahead of inflation but here's another investment you can make that may also help you achieve your retirement goals if you invest in solar energy you may see double digit returns and growth call alternate energy today for a free solar analysis for your home or business at 347308599. Entry. A well cited solar system churns out monthly dividends and reduced electric the best part is that these solar dividends aren't taxable solar increases the value of your property and buyers find the properties would lower expenses are more valuable if you like the cash dividend concept of solar all the experts with more than four decades of experience call alternate energy at 347308599. Tree then discover how solar dividends work that's 3473085993. Or visit them all mine that 800 DC solar dot com that's 800 DC solar dot com. This is the financial exchange with Barry Armstrong and showed sub out. You're exclusive look at business and financial news affecting your day your city your. World stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck son. The markets in positive territory. As we opened the show he need Dow is up eleven points the S and p.'s up slightly. I found a curious earnings announcement this morning in that came out of Lowe's hi everybody it's very truck with you here on a Wednesday. And you know with the housing market being so darn strong and you hear about you know renovations and home improvements and new construction. I would expects blows to have had a very strong quarter that they did not in their shares by the way they are down about 4%. Yeah they didn't have a strong quarter in what makes it a little bit confusing to me as well. It's Home Depot didn't happen good quarter and typically. These kinds of companies tend to move in tandem when people are buying lots of home supplies one. Buying a lot of the other because it's you know realistically these two stores they're very similar in terms of how they do business. Now what I've heard and what you what the statistics bear out. Home Depot gets a little bit more traffic from contractors okay about 40% of their business. Comes from contractors. About 30% lows and maybe that's the difference that there's more contractor work going on verse individuals. But if it's it's definitely a little bit puzzled. I tell you I'd iced I know you disagree with the bit I maintained. That Home Depot and Lowe's are beginning to lose market share to Amazon and the only way I can quantify that is on my own personal shopping habits. But I find myself chuck it be Sunday night and I'll be thinking about projects that are wanna do next weekend around the house yep and what I'll do is I'll make my list. And it'll be maybe Monday or Tuesday that time I've got my list I know what I wanna do on a treat for me just mosquitoes and ticks and you know would it whatever it is I'm doing on the house yeah. On Tuesday night I'll order it and it's delivered on Thursday and I have to go to the store it's all there. I've bought electronic equipment. I bought. Home improvement stuff that I needed just like I buy a lot of stuff now that I used to go to Home Depot for combine online. It may be part of it I still think it's a very very small piece because again the stuff that you're buying its small ticket. You're going out and buying a ton dry wood trillion or drywall you're not going and buying them plywood but daddy suddenly edges you know but if not out yet you guys don't do late on homeowners and you know it but you know we don't know by any beer YouTube just had to fix after condom before he sold it to you have to. Did you or any of that stuff online or did you go to Holbrooke told people roll idol and I think you'll find it. Once you or. In the house in the you'll have the same experience in of the two state if they gotta do this status you know I think I would like to feel and see what I'm actually work with I'm gonna go out like let's say let's say when my plans immunity bill on the patio. Okay like an order patio stones and all I agree you know or let's say that I'm going to be you know put he put an offensive personal doing and I can work relentlessly and I need to go see you need to feel it. If I go and under are saying things like if you wanted to buy drill. For instance that you didn't feel like driving all the way Home Depot. You can do that if you if you wanted to drive their talk some. Yeah it's it's just we would that kind of stuff you you talked about something where if you make mistake you potentially have thousands of dollars in damage. Withdrew. Yes it was a girl. What you say I mean again all I'm saying is if you building something and you're doing it to your house which is the most important investment you make take ten minutes ago when you can answer we'll see we'll see you know it's gonna take. There probably net a year and a half to bared out. But I think you're gonna learn going forward that Home Depot and Lowe's are being impacted by online shopping and they people. You know I hate to say it. But it's just not easy to go to The Home Depot web site in order something when I've tried it and it's loading your credit card in your address and here. You know the askew the security questions that you millions of security pass it just a pain in the butt in his life goes what you want built it's there. And and it's deliver for the weekend that age I guess maybe I'm an oddity. I I accept again and I think there's some people but the stuff you're talking that you're not doing big projects photos homemade gifts you know it's. I think that when you're talking and I still go it'll they'll get me wrong I still go assuming electrified just trying to make a lot less of them. Yeah and in and I think what one of our listeners points out the sixers three. That he goes both Lowe's and Home Depot says well I'm Home Depot was much better service than most of us customer service IR editor and totally agree. Is it's never been a pleasant experience when I go to Lowe's there was an attitude and stuff I've always gone home people are just always had good experiences there so it never spent a lot of time tomorrow wasn't I go to Lowe's just about every Saturday and Sunday. And I find them the fun and very you know the death you know it's all business or it could be could be the leadership within the store if you have a good store manager. You tend to have pretty good people were there. Hey if you're looking for a high interest rate investment I've got one for you but there is a catch. Chesapeake Energy is issuing 750. Million dollars of debt. And these bonds are gonna victory in 20/20 seven. There are gonna be paying interest 8%. And the issuing this data offering on June 6. Yes they're going to be obviously issuing this high interest debt each year but it can be going to swap pay off some of their existing debt. At this point. But the big thing is what Chesapeake it's it's a company. I've dollar stock that is somewhat risky go back about a year basis you're talking months is is junket agency degrade on it look for the greeting them that dad couldn't find it I'd imagine it pretty much an 8% rate I mean you're making. You're you're making what five and a half percent more than you would on a ten year treasury my point for point five point seven. Moody's currently has Chesapeake as a bogey. For credit rating so yes it's it is so what's the likelihood rather ups are CCC plus triple C plus some default rate on something like that would be what 34%. Might be a touch higher on the tickle him. In that we have to consider when you're buying a bond like that united on the surface sale 8% that's pretty good as it is right who wouldn't take 8% but if you go to the bank and get 8% and money doodle you'll. This is a debt offering by Chesapeake energy and it might detract pointers two dollar stock just few years ago. And you say yourself okay. If I buy that what are the chances that it goes bankrupt before the ten years or so it's actually. Significantly higher than that anything that is triple CDC rated in. Over a one year period has about a 25% chance of the full house. Ovary and it stretched up to fifteen years to about 52% chance of default there so high risk. Yeah you're you're talking high risk if you got it be if my theory on oil prices right right yet up to sixty dollar oil price pretty sick that. It's helps them I don't know pretty safe is the word I'd use paper you know like it and again it's this is this is high yield debt and you can happen this is not good high yield that this is not you know. Mid year or something like that we're buying double B ball and we get if it defaults and you're get some your money he's not at all. Exactly typical recovery rate somewhere between 35 and 45%. Stopper it. And UA we do have a survey questions and fair poll question do you think oil hit sixty dollars per barrel by a year and our website address is financial exchange showed dot com should you care to participate right now 61% of our audience thinks that oil will in fact. It's sixty dollars per barrel. By year end. And 38% saying no law by I mode in the camp by the way that I think he will hit sixty dollars for a lecture finishes at sixty. But I think some time in the fourth quarter of 2017. Oil will trade over sixty dollars ribeiro and they know talkers got a memory like canal that he's written down so. I'm ready for that. Turned out over short changing their drivers in New York City by millions of dollars this company oops. And he just he beat me keep doing things making mistakes. That damaged their brain. Yeah what they did here is over typically receives a cut of the fair. That varies depending on the exact city that you're talking about and New York. They typically received 25%. Of what the driver gets after taxes and fees are deducted so let's say that the driver. Fares ten dollars but there's two dollars in taxes and fees over should take two dollars. Instead they were taking 250 based on the full fare. And so now what they have do. Is pay the average driver about 900 dollars if you're heavy driver like if you're working sixty hours a week for them your betray you what you might have thousands of dollars coming to you when it's all said and on the saying that could cost the company about 45 million dollars. This kind of a basic thing you have to get right is how much you pay your people. And it continues a string of bad publicity and bad press for over this very. Up next we're and be joined by a business owner will be joined by Paul salute he is the CEO of little leaf farms every Wednesday we do this. Now little leaf farms if you don't call you've seen him in the grocery store when you go to the grocery store you'll see their product their programs. Primarily it's a lot of rule and and and different greens that they sell. Terrific company and we're fortunate to be joined by Paul you'll talk to us next about his company you can join us as well go to our website financial exchange showed dot com if you own a business come on down we wanna talk Q. About the trials and tribulations of being the CEO and be self employed. That's our next topic from our insurer match dot com studios. Stronger. So I'm bringing you the best in business and financial news every day this is the financial exchange radio network. If you're -- real estate or property management company you -- -- banking partner that has all the right tools to keep your operation efficient -- bank is one of the premier banks in the property management and real -- -- offering a suite of unique products and cash management services to help -- collect -- managed Condo association payments and digitized paper -- -- bank utilizes state of the art technology to offer convenient banking services -- -- -- -- clients such -- -- -- mobile banking remote check -- and it's -- to see rent payment platform -- bank -- a -- of business bankers that are on call to help -- and they'll come -- your place of business and make it as easy as possible the number -- call is 8776917900. That's 8776917. -- 900 find out -- many of greater Boston's premier property management and real estate companies -- -- -- as they're banking partner -- call 8776917900. Or -- BBO -- -- -- dot com for more information member FDIC equal housing -- Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends and being sure imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers -- you can qualify for Karl 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 -- -- -- Plymouth rock and more there relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a managed dive. On many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and costs have come down solar incentives seem almost too good to be true yet if you talk to alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with three power from the sun imagine increased solar power creating our own clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement plan you think the state and federal tax income credits now when your high income years then enjoy high returns for the next twenty to thirty years don't put off investigating solar. The returns could be incredible Hulk alternate energy right now at 8559120115. That's 8559120115. For a free experts solar analysis alternate energy has been serving new englanders for forty years called in today at 8559120115. Or visit them online at 800 DC solar dot com. According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional retirees an employer sponsored plans hi this is very Armstrong it's great to -- more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pass your assets onto after he died is an important part of elder life planning and my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but they're can be complications called out to get your free guide understanding traditional hiring a beneficiary designations the phone number 803934001. That's 803934001. You can also download it right now from our website financial exchange show dot com. The financial exchanges of live on FaceBook so make sure like your agent watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. On Wednesdays we'd talk to business owners and today we're joined by Paul salute you as the CEO. Of Little League. Farms you may have heard of them before they actually there was a presentation regarding little leaf farms on chronicle which I had an opportunity to take a look at. And now we're gonna talk to Paul voted all the challenges of being a business owners back from an ample. Great thanks for having me Paul looking at your business talk a little bit about what little forms does what what he actually grow. We grow. A variety of baby greens. OK so back can be green leaf lettuce red leaf lettuce. A room a rubella and other types of leafy greens where you were already grossed where's your facility based. We're based in debit Massachusetts okay so we built our facility beginning in 2000 followed 2015. And came into the market really about. Summer of 2016. And you know it's been a great receptions of the market were completely sold out rates. And so you say that you're completely sold out how much lettuce or you actually growing there's a lot. So. You know we we send out tractor trailers of lettuce you know every week and we packages. In a four and a half found plastic. -- show on container and we also have a four pound food service contain her as well and so looking at the the total volume that you produce in terms of I don't know if you measured by pounds by tons by containers what's what's numbers you can put on. We. I would say from the standpoint of of of pallets and cases of product. You know couple hundred pallets the week. And ordered a week yes 72 cases per Pallet so a lot a lot of loads and you're doing this year round see your facility is it indoors all all indoors or is it a combination indoor outdoor I mean US is a is a very dominant field agriculture. Country I mean we're the largest agricultural producer in the world. We because we're based in new England and we wanna serve the markets year round we basically used controlled environment and and and for that we selected greenhouse known natural sunlight. Allows almost on and and we have supplemental grow lights for the wintertime and the idea is that. We have the same amount of product year round 52 weeks a year we are we are growing. The same consistent product so we can serve the market. Looking at the overall business and where you war at this point where you want distributing two was it just in Massachusetts threaten New England or do you go you even further than that. I would say mostly New England. Some product into New York State then that the New York City metropolitan market but you know we're up against you know the multibillion dollar Salinas California lettuce conglomerates or possess or most of our stuff coming from president Paula Arizona and California like you might just go into the grocery store. I I think most of our Prodi's he is coming from out west yeah I mean many people don't realize that but California and Arizona grow about 98%. Of all the leafy greens and for North America people don't know how that's grown in the if you take a look under the hood that track it's grown with. Ground water yeah. Looking at your business Paul what have you done to try to be competitive with those types of forms or you kind of competing in a different space DC yourself. What we we're focused on delivering a superior product and solo. Just just think about the lettuce is being cut and AM California so it's being cut today. It's grown outdoors in the field so they have the triple washing it. There's chlorine you know as part about wash water. It's package. It's put in a truck for 45 days across the country goes through distribution and by the time it gets to a grocery store. You talked in 789 days old one so do you know the end the issue with us is that we everything we cut today it's in the store tomorrow. What are you argue that pesticides or anything or do not have to. Now we are completely committed to what we call biological control and so it's it's better in if you do it correctly it's lower cost than giving chemicals so. We're pesticide free herbicide free and on deciphered. In terms of how you actually won your operation. How much this is automated vs how much is actually people going out and actually picking groups. Well no human hand touches the product from seeding to harvest so don't yet know where were highly automated but I would call an intelligent automation. We have guys and our and in our greenhouse that they work hard and we obviously have to package the material and put it on pallets and load trucks so mean we still need labor. But the actual plant growing process itself is highly automated. Do you have the ability to grow beyond your three acre facility that you're in now collected did you go to lender and say hey I need another. Few million bucks because I can it's going to be three acres or six acres. Well we're we're in the process of expanding our business area now yes same same location area that we we really like the depth and very we've got a great relationship with. The seventh community in math about that location to rein in terms of being able to distribute product rate very Central Asia close to the big population senators both still central and not so yeah. I mean we we call that Peri urban agriculture and so there's a lot of talk about urban agriculture that we think there's there's issues there are obviously too expensive yet expense and also skyscrapers conceding so we like to be on the perimeter of urban markets and is as you say. DeVon is thirty miles from Boston and so it's very easy very what's your biggest expense energy. Idea I would say it's energy and packaging thorough the consumers like it in in our plastic plant so container and until it's it's it there's some costs that do. As you go through this expansion is it to grow more of the products that are already producing or at a new product lines. We're gonna be growing more of the products were produced in we always have the capability to grow additional products based on market demand. But our customers market basket Hanford big why should all Stop & Shop them and that they love our product and they want more. Do you do any small constant things for restaurants or anything like that they need certain things grown you do those smaller deals are just four the declines. Whether there's there's really a strong ethic around then the New England area about locally grown food and so many restaurants that we sell to through food service distributors and they've they put us on the menu because it's there with their way to say they support local agriculture. In terms of where the business as a whole is going for far we've heard an awful lot but some of the technology that's in development dot shipping containers for. You know being you know grown and urban situations like you described all the automation never think we're do you think forming goes over the next ten to fifteen years in America. I think fears. The beginning of any really sustainable local food movement and if you live any temperate climate elect like the Boston area and New England. You're going to have to have control environment if you're going to be able. Grow and produce great product here around so. Therefore there's a lot of innovation and out there but we've made the calculation and and invested our money based on using 100% natural sunlight. That's up plants of evolved to grow and we think that's the best place. That's the environment to grow them that if people are looking for your products word they go to find him right now. Variety of restaurants. A variety of really great grocery stores as I mentioned you know market basket Hanford Stop & Shop you do wegmans yet. Not yet the night ended. Yeah they're good in a good day high in distributed up very good grocery store. Very good will Paul we appreciate the time they have so much interest in learning more just about your company where they go. WWW. Lit toll farms. Dot com and on our web site and have all the contact information there. The Hispanic thank you very much Paul thank you. That's all salute he's the CEO of little leaf farms and if you're. The owner of a business we'd love to talk to you during our show we are fascinated. By the running of businesses and it risks that are associated with a mean it's not a risk free. Endeavor he be borrowing money in your name in your name and ordered to start that does a lot of risk but we love lot of reward as well. Go to our website financial exchange showed dot com if you'd like to applied it become aghast at Marshall when we come back we'll have a trivia question for you. And we'll be talking about lots of new homes on the market. That's next for march or match dot com students. You've got Barry Armstrong. Extra pressure on the financial exchange radio network. 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According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional retirees and employer sponsored plans hi this is very Armstrong it's great to see that more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pastor assets onto after you -- is an important part of elder life planning in my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but there can be complications call now to get your free guide understanding traditional I air raid beneficiary designations the phone number 803934001. That's 803934001. You can also download it right now from our website financial exchange show dot com. Securities -- to securities America incorporated member -- SIPC and advisory services -- -- the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated many of -- are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and costs and come down solar incentives seem almost too good to be true yet if you talk -- alternative energy clients they're thrilled with having no electric bill -- been driving their electric cars with free power from the -- imagine -- solar power creating our -- clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement -- you think the state and federal tax income credits now when your high -- years and enjoy high returns for the next twenty to thirty years don't put -- investigating -- the returns could be incredible Hulk alternate energy right now at 8559120115. -- 8559120115. 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Step ahead 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 -- mystifying trusts which will offer you a roadmap as to the different types of trusts that exists and help you to figure out which one is rate for you and 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 -- 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 of head of rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject 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 team for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Emirates PSE equal housing lender stimulus number 449250. Subject to credit approval leader bank a step ahead. Barry and chuck get the latest every day beginning at ten only here on the financial exchange radio network. Time for trivia. How many NBA championships did the Boston Celtics win between 1957. And 1969. Pretty impressive. And you are text number is 68681. Listener of the correct answer wins a 25 dollar gas card. How many NBA championships. Did the Boston Celtics win between 1957. In 1969. Against tech's number in the studio here succeed succeed. There are tons of newly built homes just the wrong kind of what we're talking about housing just about every day it seems. And we got disappointing existing home sales figures this morning. Lot of homes on the market new homes newly built homes there on the markets matter back to return to a thirty year average the problems. They're too expensive. Yeah you just have this mismatch in terms of the kinds of homes that people want to or can afford to buy today. Vs the homes that are actually out there and in particular. What you see. Is that more whales are going out and buying into the mansion that everyone's building we can't afford a two million dollar home airport or they don't want to a lot of cases you know you guys here starting to have families at a later raid which means you're probably gonna have smaller families by a counts right so. You know if if mark if my generation was having. Two and a half three kids per family you guys are probably down I guess at what one and a half. I don't even know it's that high I think it is agency is a most couples that are having kids it's probably right around one and half but here's thing here's the number that really struck me. In April new home sales made up about eleven point 9% of all home sales. Which is a little more than half of the historical average normally. New home sales chart new construction home sales represented 23 point six in April it was eleven point nine. Yes just not seeing it did their homes are being built. They're just not being sold and you know people were attending to stick with existing homes that are out there I wonder how much of this also less to do with we've talked about. They increased regulatory cost of building and that's why you don't see a lot of small construction necessarily if you have 80000 dollars in regulatory cost is opposed to fifty. It's kind of hard to build a 250000. Dollar home you know and especially in in certain parts of the country. And I think a lot of it has to do market I I talked to my clients that are in that industry and they'll tell me. Well you know a fun to build a home in you know south of the city. I'm I'm better off building a home that I can sell for a 1000005 because of profit margins so much better. Yeah and that's that's what I keep hearing yet the builders the margins are better on the really expensive homes obviously. The the take a lot lot longer to sell. Tightly as I drive around town if I see a home in my community that's listed you know 1300000. Dollars. Itself in the same weekend but then I'll drive by home it's listed for two million dollars and since they're freer to have always been the case though. I don't know that are likely it may Ivan pay attention long enough to be able to see how there's different markets work that it is it's. I've never seen. The mid market house if you will sell so quickly they don't get literally. I'll drive is I drive through town to get. You know did to go to the hardware store to go to Connecticut and I'll see houses listed on Friday that seat for sale and literally when I'm coming back Sunday night they'll say so pent. What I find interesting it still is that they gave very local phenomenon just because. I have friends who live by down south and one in Georgia and one in South Carolina they'll. What did they say the sales cycles all longer there and you'll homes that are out there for 40450000. The other 234 months just because there's so there's so many homes down there I guess that the inventories in this tight now. So I didn't kind of goes back and forth. But did you sell your place the same weekend yes now on. Lou I quick a message on behalf of Cushing and Dolan during the month of Nader making a guide available to you free of charge. It's called the guy to miss demystify and trusts. And if you like the at a copy of this site it is call toll free 8668485699. You don't wanna call you can download the guide right now by going to legal exchange show dot com. And you can download the guide immediately if you want it right now with the guide to demystify and trusts made available for the month of may. 8668485699. If you're number to call. Chuck you've been harping on us in I'm talking about car loans specifically. Sub problems. Turns out that automobile lenders Santander bank. Check the income on just a 8% of sub prime loans that they then bundled into bonds with boys is ever remind me of 2006. What are you doing. What are you doing do you take think about it these are the riskiest borrowers that you have about the I'm always on and you only want take the time to check up on 8% of them. I get it there's costs associated with doing that. And apparently some time there is done the the math where it's cheaper to just happened to fall and actually do the proper underwriting to begin with so I get. There's a lot of money to be made but if you're lending money to somebody with good credit the margins are very thin as a lot of competition for that paper. But if you're lending money to. Sub prime borrowers in the margins are enormously indicate these L yet it glows like a 20% right in and so somebody come in. They'll buy used car for 7000 dollars they'll put 3000 dollars down the finance 4000 dollars to 20%. That's pretty good risk the guys in and so like I get why some time there is doing it and I understand it but. And it just doesn't smell right does it. No it doesn't it and I think what bothers investors. And would bothers there is the rating agencies is the fact that they're only checking credit Darrel checking the validity. Of the information 8% of the time and we know that the lenders are lines we leave because they put our dollars the the the borrowers would have been told that. Yep that they're being told by the lenders so yeah it needed the lenders so they're filling out the application. And the guy on the other side of the desk is saintly and tell me make 30000 a year he in the adult in their life it's not good. NFL football players are wimps you've heard it here first. They're shortening the overtime from fifteen minutes ten minutes citing player safety. And he. If you guys ever watched an NHL what's the longest overtime you've ever watched the NH NH haul flights to go to Trent oh yeah out on the go like halfway through current year's Bruins won the cup how many games when in over to a lot on and at bottom went into like double and triple overtime remember that. Well NFL saying what our players you know that too frail to play fifteen minutes of Gortat in the coming ten. Battling it's a matter of. I'm big thrill. I realize it's players' seats because Santa Paula I'll cover their ass pretty much I don't think this makes any difference there's only twelve games you're going to that's another aspect of it do this doesn't do anything. Wentz is doesn't do what the owners voted commentary for the wreck hot at their toughest. Players and oh yeah national sport dubbed by far hockey completely agree bench that missing golfers he. And they are running out of business stormed through it below the way it. I'm Rob Gronkowski is getting in new contractor he got a new contract yes it's yeah he had his 2017 numbers amended to potentially have some incentives based Legos and I don't think he can play 90% of the time he hasn't done plus three years if the if he plays 90% of the time in ten point 75 million dollar making him the highest paid tight end in football yet be the highest playtime percentage he's gotten two in the last. Three years ED yup but he can also get their despite getting 12100 receiving yards. As the tough putt. You know that's he catches that stopped him. So you take a look at gronkowski and at his stats historically so where is the price in the second tier so he's only had over 12100 yards once in his second year. He's had over eighty receptions twice been OK and he has been all pro four times which also would bump him up to that highest levels so. That's his best chance he's got about a 5050 shot at being all pro based on how we've done before we need break his back that's you know. Korea used on for the year yeah today with a broken back and it was a disk. That was with back related though it is back related would you have if your hockey player. Or a football player and you have back problems at all that the two things never wanna hear back or. Hence this contract gives them incentive you know to stay on the field and how much they get healthy you eat your. If you're suffering from a back injury that the guys I've seen back and hip are good they can fix knees they can fix ankles that fictional orders. Back in hip. Not not viewed O'Dell Beckham Macon 48 million bucks from Nike is a great deal of night yeah it's it's a new deal with Nike. It is a five year deal. Worth at least 29 million dollars guaranteed. And it can escalate into an eight year deal worth forty millions of about six million dollars a year overall. Probably a fair price for someone of his caliber I think I'm curious to see what they and doing his. He's that good though it's here is the thing the football shoe market is like the basketball shoe market people by. Air jordans just aware around you no one buys cleats the winner into the office you know. Think about it. How much is this these broads all the time I got a great track when I'm going around the corner here. Tucker you sent me an article about. The Red Sox and nests and dance. How much how much second Acosta violent download that. Bullets for you if you have a cable subscription which you don't write. But yeah. You do need cable subscription so I could borrow my parents I want to him log on to that's some pretty much if they've never stream anything on line no this is this the first time that happened I think they're they're trying to just get the technology right with their existing subscribers. My guess is within the next year to. They're gonna roll out of play Edwards hate you pay five bucks or eight bucks a month and yet I think we're headed there to truck. This this kind of their tentacles it's a big move isn't hockey is slow it's all just yet it's anything it's old. Oh destined. Don't they have different channels to Magnuson was 23 years listen. Regular and then some plus which they only really use if the Red Sox and Bruins are playing at the same time bullet points that give me both of those future. It Edison you feel this stuff. Yeah up next we're talking about health care. We will be joined by Dina Shanker from the from Bloomberg talking about. American health care how does our health care stack up to the rest of the developed world. Now the results might disappoint you that is next along with the answer to a trivia question from our insurer match dot com studios. Armstrong here. So I'm not bringing you the best in business and financial news every day this is the financial exchange radio network. According to a recent study by the Investment Company Institute more Americans today are saving money for retirement through traditional ire raised an employer sponsored plans hi this is very Armstrong it's great to see that more of your saving for retirement and my message to you today is let me help you make sure you protected assigning a beneficiary to pass your assets onto after you die is an important part of elder life planning and my firm the Armstrong advisory group as a new guide out this month that can help you understand this process it may seem simple but there can be complications call now to get your free guide understanding traditional higher rate beneficiary designations the phone number 803934001. That's 803934001. You can also download it right now from our website financial exchange show dot. Com security suffered through securities America incorporated member Finneran SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and costs should come down solar incentives seem almost too good to be true yet if you talk to alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with free power from the sun imagine pretty 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 Hulk alternate energy right now at 8559120115. That's 8559120115. For a free expert solar analysis alternate energy has been serving new englanders for forty years call them today at 8559120115. Or visit them online at 800 DC solar dot com. A state an asset protection planning can be overwhelming where do you start and how do you know what type of trust is great for you and your family hi this is very are strong and with numerous types of -- available a state planning can certainly be confusing do you need to revoke global or an irrevocable trust and what's the difference between the two should you consider special needs trust -- -- insurance trust what the tax implications of each type of trust -- and -- an expert in elder law -- state planning has prepared a brand new guide called. 8668485699. That's 86684856990. Can also download it right now by logging on to legal exchange showed dot com learn how to reduce and potentially eliminate your state taxes and protect your assets from the nursing home all the same time call now for your free -- 8668485699. Or get it right now -- legal exchange -- dot com. Our financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends -- -- -- 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 a 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 carriers and 84499. 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 can contribute time stress than money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Security suffered two securities America and member finreg SIPC an advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. Am on top of breaking financial news by becoming a member of the Harry's brigade blog on the financial exchange dot com and sign up today. Boston Celtics won eleven NBA championships between 1957. In 1969 during that. Period commentators referred to the team as the dynasty as well they should. The winner on the question is Robert from Peabody Robert takes on the 25 dollar gas card to gulf. In our trivia contest is brought to you. By insurer match looking to update your insurance policies. One called insurer match give you multiple quotes from several of the top carriers hope you make the right decision for your insurance needs call on your match today. At 84499. Match that's it for four. 99 match or visit them online and sure match dot com. It boggles the mind to think about how the United States can spend so much money on health care yet have a system. That is inferior to most of the developed world. We're joined now by Dina Shanker from Bloomberg she studied this topic and she's good enough to join us on the show today hiding. So how do we stack up. With the rest of the developed world and I'm talking about countries like Canada Norway. European countries. Great Britain France. Learn outlook and you get a hand picked. And it could be that he had put out a last week and scored. And country's eighth time and how well their health care system stop preventable death and they used. Any one to a hundred Gail. Time and door. With that the hot I had in 95 and then I playing within ninety school are. I really look at nine. 88. And manly he do you laugh at 81. 81. And where did you say Canada was 88. That handed out with that 88. And many they're right next door to me like how can they be that much better. What what are the big killers in the US. You know it and if you can I don't know if you have if you do side by side with Canada but I mean there there. You know culturally they're the closest comp countries Canada and Australia would be very close countries. No I am the continent to declare a preventable death you know. And what we PM EU lacked it that care and dvds says. That your if you get them in the US are much more likely to die from and then you would be another country. So for example the US got a kick T. You know lower respiratory. Infection and about fewer than door and the back country for health care according to the index in the it would be an 85. Canada with a 73 so somewhere in between. Regulatory is that pneumonia is is overtime a lower repertory and action adequate amount. Would how much money do we spend on health care Kazaa in reading your article this is written really caught my attention is worth spending a small fortune on health care. Yet our. Our delivery is terrible. Go according Hughes the director of institute for health metrics and evaluation and at university of Washington and the US. And 9000 dollars per person on health care each year which he says it more than any other country. How much more do we know they keep in I read a study once where we are spending. I think double what Canada was spending. You know unfortunately that is not in doesn't use that specific piece of information. But I can tell you that. Doctor Murray called America's drinking and then there are men have now well on. And president trump spoke very positively about the Australian system of health care so what is. What's the difference if the president of the United States says hey Australia's Scott a much better health care system than we do. But we should take a look at what they're doing what are they doing relative to how we deliver health care. So I am Australia had universal health care. And what that means is that ever a minister they had access to the health care of them. I'm albeit all of Australian. Has that kind of automatic access that you like we do not happen. You know they they all have a private good I can tell them you want to pay more. To get entry to a doctor at a specific date they have that option but you don't have to do and and and that is something that Bernie standards for example it left of the year in the last nine hasn't really gotten much traction. Very good thank you very much Tina we appreciate your time and appreciate the study. Thank you Dina Shanker Bloomberg. I think that's where we're headed is a public private type health care system so everybody's gonna get universal health care. And it will be okay it'll be like Canada's system in the life complaints about the the basic cut wait times and things like that that if you're rich you say law pay an extra. 500 dollars a month for concierge service or wait you know they'll be some the market. Will determine. What the value news for premier care so if you wanna go to Mass. General. Right we ought to pay an extra ten grand a year it is that some dollar rate for superior care. And then. If you don't want to pay that extra ten and you're going to Boston in Boston says it would seem that that's the direction that world likely heading in in the law cut out the insurance industry. For the most you're never gonna be it in here here's the thing is. At a certain level you know we looked all of these other countries that's an interesting idea that's an interesting idea I do like yet Canada's system. The big knock on it is the way Canadians get better health care to come down here. Rates in Australia though I liked that idea. So that capitalism the big things you never going to be able to cut the insurance companies out completely. We noticed because their entrance I'd I'd I'd love to be able to I'd love to get rid of that you know to say look let's just you your spent in what 1015%. There there return on equity. Is the oil fourteen to 18% and and there's a read the reason you never get rid of them is because there's so much money there I'd love to be able to. But I'm also realistic you're not gonna get rid of a an industry that big and then the G a lot of complaints about discrimination oil rich people get better health care of the poor people. We have you're gonna have those complaints no matter what all what would you have to look at is what's feasible in the current environment. And I think that one of the big limitations it's going to be how entrenched the current system of assurances. Well that's that's it for today let's take a look at with the markets are doing before we head out the Dow still up it's up 24 points oils at 5147. Don't forget to take part in our poll financial exchange showed dot com. Chuck Berry signing off for today for mark fuhrman's background ski.