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Full Show 6-1-17

Jun 1, 2017|

Full Show 6-1-17 by The Financial Exchange

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

This is the financial exchange with Barry Armstrong and shut sun out. Tour exclusive look good business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and who. And now the financial exchange with the very Armstrong and chunks. Donald Trump is reportedly planning to withdraw the United States from the Paris climate deal. And that announcement we expect to be neat at 3 PM this afternoon from the Rose Garden hi everybody it's very Armstrong and John Moody with you here. On what could turn out to be a historic day they his political base and largely expected this to occur. They did expected but it is a big surprise a lot of people now and putting his daughter including its gonorrhea and there's a lot of internal disagreement. Within the trump administration about how to proceed on the payers support the latest report is that is now expected to be. A decision by trump to pull on their support which let's talk about what this actually means he would say a lot of people. Either don't understand fully what the court is. He's going to be a lot it's gonna be the lead story certainly over the weekend. People will be discussing this and would be very heated debate. On the paerson peace deal Paris climate excuse me they've people feel passionate about both sides of the street. Yet this particular record is non binding. It's an effort by the countries of the world to come together and collectively reduce greenhouse gases. Which is believed to contribute towards a global warming and climate change. The president had the opportunity to opt out. But he also could have decided not completely withdraw because. The issue with every country is actually on their own made a particular. Edge going forward based on 2005. Emissions. Of greenhouse gases in the United States example. In our defense you know we get the most cup. We have allows us and China us and China I'd much sure exactly how much China has agreed to cut but our levels. We've agreed to cut 26 to 28%. From 2005 levels and two biggest polluters are us and China. Followed closely by India's understand its China won us number two. And significantly. Our economy is much larger than China is there. Yet they pollute more than we do. And also so we are being held to a baseline here. That probably was a lot more strict in what China would have to do that because we were polluting nearly as much as China yet we're agreeing to cut back 26 to 20% isn't China cutting back a lot though just because the city's immunity they've literally millions of people dying. Every year from pollution and it's directly related to their burning coal it's a mess I mean here they're cutting they're shutting down their coal fired plants. As quick as humanly possible they have that natural gas deal with the Russians right struck out ten B 510 years ago. And they are trying they know they've got a problem they they're trying to and they are staying in trying to stay in the Peru. Understands that this is already biting your economy need be cute little worried about what this could beat him and we're making we've made a commitment to cut back 2628%. In China it's a crisis I mean they're gonna kill their economy if they don't do something here but today they realized that. It cynically you're only Syria in the Lockwood did not sign on. So we eat eat if we do drop out we're a group of three men with Syria in Nicaragua and and and the question your very good news is largely if they why is he dropping out who's who what's the is it because. Politically it's going to be very unpopular to yeah Abbey's populate this base rate to 35%. They are die hard. Donald Trump supporters there going to be enthusiastic about this but there's going to be two thirds of the country that are pretty. That this is not gonna play real well I don't think it de maybe you weren't even a lot of this corporate sponsors lately is big. Dow Chemical knee the near the air and air saint Hagan stay at his secretary of state Rex Tillerson. Is saying that you need to stay in this deal. Elon Musk who was on a couple of committees voluntarily go with the administration. Has said if you do this I'm gonna have to quit so yeah there there's definitely some negative adverse consequences here. But Berry really comes down to. The issue of the loss of renewable jobs and verses the preservation. Of old school jumps in namely industries like coal. That those jobs will be preserved all of it and I know I disagree completely and I can then be preserved at all I don't actually. Well let me ask you if we get rid of these standards do you think any town or any state is gonna build coal fired electricity per. No however the issue is how many jobs would have been lost otherwise. We're comic the preservation of existing jobs associated with quote clean coal. Seattle so it look I'm not a funny and tell you that what's gonna happen years you're having people who were part of his base. Remember those jobs in Pennsylvania. Jobs in West Virginia and he's standing up for most people here rate in those people my point is though I think when a community. Is considering whether or not to build new power play let's let's let's use Portsmouth frightening receiver unit. It would they shut that down that's gonna be shut down in the next 1020 years and right game with the Plymouth lived and it was gonna shut up tomorrow does that. Ten years islanders within ten aka so when those get shut down what are they going to be replaced. Not opened the hit. That's helpful if it via A I I think that the the only point I'm trying to make it and I don't expect all of sudden Peabody Energy. Which is a big coal producer to start making money no but maybe start looking at things like the incentives we have with industries that are renewable. And saying you know doesn't make sense to extend. Tax rates to people Boerse solar yup for wind. And so I mean look it's going to be a very controversial thing importantly though this is and this support is non binding right. Everybody's playing by different rules set by themselves life so let's listen in in the proper perspective but the optics on it are not particularly. Do you think president trump should withdraw from the Paris climate deal that is our poll question today. You can go to our website which is financial exchange show dot com. Pretty simple question and we've got to have you participate financial exchange showed dot com and ordered to participate in our poll question do you think president trump should withdraw. From the Paris climate deal I have to tell you I think. It's a lot I I think it's largely symbolic than what he's doing I think it had. Zero back as those tax credits you refer to the solar credits the wind credits. There and placed the point one trick in that he would take it would take an act of congress and sent to repeal rules so. Idea I I think I think it's being done for political purposes what you have to applaud yet to say OK you promise something to your basin you're giving it to them it's an executive order which means next president can easily. Revoke it right just like Obama's going into it. He didn't get through congress. We're seeing a lot of symbolism here where there's no question about that the the impact of this I think will be. Rather minimal. And just think the promise of all these cutbacks. Was exaggerated and it also subject to amendment we could come back five years nothing we tried the 26 28 we got five right. It's at the end there's nothing they can do about that it's if it's basically goodwill flat so I agree it's more symbolism anything but it's gonna. Excite the Bates and get a lot of other people angry. And further and further ahead in the genetics that's exactly. Medicaid was overcharged one point three billion from violence epi pen this according to watchdog shouldn't surprise you mean. Medicaid and Medicare have a habit of being overcharged for prescription drugs. Your tax dollars at work and coincidentally here Barry we should point out that that one point three billion dollars is war. Then what mine and agreed to pay the settle the overcharge of a quick excerpts. So it's like okay you overture could be the daughter of a senator Ted. Is that the CEO of island is the daughter of a democratic senator made him over. A overcharge by five dollars or penalize you for. It's like the remember the story about United Airlines and from that debtor country the per. You know couple years they fluid dangerous veteran right and they got penalized 465000. Dollar for the price. On them. Plain dangerous jet that that's the that the flip side of that equation. Your government prosecutors at work here there making a crime today. As we we should have a good news if some conflicting who's here with some with the proposed giving sea ADP number eight EP great number plus 253000. Yes it was a 185. Growth in the labor force service is up to order 5000 new jobs including 8000 professional and business service jobs. Best of three years construction added 37000. Manufacturing. At a thousand good. It's not just robot's very. And about small employers. And the jobs they did real small business looking real good to get a good number eighty. He and that's probably the worst of bumping up investments for the big number that comes optimal which would be. A 175000. It might be over 200 so he's beaten the news from the employment situation is. I actually thought it continues to be strong. Well that's enough good news for. That up next will be joined by Dan Hart from Hartford current talking about Aetna. The widely expected that they will be leaving Hartford Connecticut headquarters will be leaving Hartford Connecticut I wanna know why can't harp from Hartford current will tell us that and more. From our insurer match dot com studios. Armstrong. John. Bringing you the best in the business and financial news every day this is the financial exchange radio network. 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Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dot com. Barry Armstrong here and I'm joined by Jake too who's a vice president and leader bank and we're talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake. For first time homebuyers with what is your message to a young couple hours just somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling them are a couple things one. Be patient yes you know we we see a lot of first time home buyers who are making five and fifteen offers from time to for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes you're they're paying more than the other half to. Paying more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. You know it's very campaign can't afford their dream hall 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 its cult leader thirty. And essentially what it is is that fixed rate loans from. Where if you sign up to pay your mortgage automatically electronically and everybody does for the first year you get to lower your interest repayments 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 that you still have the security the fixed rate mortgage. When I bought. A home. And when I've refinance my properties have always used leader bank near terrific bank you can call them people free at 8776917900. Or visit them online leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered through securities America any member finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Top of breaking financial news by becoming a member club carries brigade. Log on to financial exchange showed dot com and sign up today. Are you looking for home equity line of credit Peter bank is now offering a fixed annual percentage rate of two point 99% for the first six months. Then it's primary for the life of the line and no closing cost take advantage of this great deal. Right now my call 8776917900. Liter bag dot com rates are variable and make change at any time animal us number 4492 thuds you remember at the eyes see. Our good friend Dan harm from the Hartford current is enough to join us now on the show idea. Morning are so. Help us understand. Why. AJ have you confirmed that they are moving out of Hartford. Well. What can play is that headquarters is. About 300 people. Not all of them top executives you know 300 total but maybe a dozen or twenty top executives. I ranking executives out of 6000 that it is so. Is that it they're moving out any more than he moved out but the flag at the flag and it matters and we don't make light of it is not a little thing. But. That statement yesterday it would seem to indicate that Hartford is not in the running it would also seem to indicate that the blog post. That. That they are about to announce a move to New York may have been over premature. So this statement yesterday says that we are in negotiations with. Several states regarding their headquarters relocation. With the goal of broadening our best innovation and the talent that will still knowledge economy back position. So that those new. Is that that doesn't mean that the Hartford included because we know from the release that governor Malloy letters and not in negotiations with art. They sued the Hartford's out of the equation. And what is your guess then does it put between Boston and New York. That's what everybody keeps. And I've always thought that the beginning I was the first person to write that they. Are in play with their headquarters went back in very early 2006 we remember and and by the way it wasn't just me thinking that you know he oh not that bad that made sense for them because. You know health care is a policy plate right now as much as it is technology and Bethesda. Is the home of a commentary health care which Aetna bought. And when he thirteen where they have. A lot out of employees not as many as part of the a lot of employees and that in the beltway. You know so if they're moving headquarters he's been like that at the plate but apparently. Bought in new York at what everybody's talking about a New York is what the blog post. Of this week mention. He said it was 300 jobs that I thought I read earlier this week in the Wall Street Journal that it could be as many as 800 jobs leaving Hartford. It's all speculation you know with the headquarters there but corporate headquarters option. Is not 800 jobs and whether. Whether Aetna elect when it moved its corporate headquarters to also move other options that the that the thing General Electric is the perfect example. The corporate headquarters three to 400 jobs the number of people moving into Boston in the building under construction. There. Where you are you up there right yeah. Is is 800 him because that includes a research you're a very large we are thankful we search unit technology research so so. Not corporate headquarters now that that the move. As part of 800 jobs do they also move. You know I don't know ITT yeah I beat northern northeast regional yet but if you're just talking about corporate headquarters it. It's in the in the 300 number probably quote that it. Damn this is John word is that governor Malloy offered a package of incentives including grants and loans. And a willingness to match other city and state incentives. So the question I have is are is there more the concern here by Aetna that there are structural issues with Connecticut. Beyond just the media equally economic benefits. Well that's what people are saying and that's what that statement that that I just read indicate. My personal opinion is something different I put my opinion is simply bet that mark Birtley is the CEO want to be a big city. I think it's been more complicated than that my. And that just that you know that's not based on the up in the mark early has told me but you know. He certainly let it didn't you go to New York Rangers he looked getting up at Davos you know being on CNBC. And you like being a big fish in a big pot than. That's not what we've got that big city and and that's an argument for New York. What what does this hurt more in the city where the state because the the all the income tax revenues are going to the states I just try to figure out. Who takes the bigger economic hit when they move. Now that's what I thought. How long they've been in Hartford. About let say that state because property remains an Art Rooney. You know most of most of the employees don't live in Hartford and most of the property. The eight million the tightly at that point 3000008 million the number that incited. Has been if we continue to be paid as long they occupy that they'll eat there at Charlotte founded in the eighteen. Fifty league. As a as they ensure that we know it can be today it was a predecessor company called. By error. Something like it at IRA then eighteen only nine. But the company doesn't. I'd that is part of it is street because it was a completely that the company and apparently bowl week. It came from out of my belief that occurred. Didn't adopt that other up the and name has been an odd but since the fire insurance basically you know nine way back when. The Hartford was it is well an 1853. Is you number. So the exact word of most of whom live West Hartford. I think mark currently at out in what are pretty not that you not a big presence in. The Hartford area did not you know that we not visible here you know. Some executives it was a significant executive I am. One of the Las Vegas casinos who's in Boston area there's significant executives in Bethesda. So you know it says that the company little out of reach is that it's the it's the thirty billion dollars. And I imagine that is the company or sixty billion how you do actually submitted. But it certainly let our respect that my calculation. Is that 8% of people. Working our in Hartford has fallen from about 40%. To a battle 11% today I am and some 20/20 Biden look. So you know another in the pre. If you go back to the pre US help their days when Lynette has started to remake itself with the purchase in 1996 that. US out there and got big dramatic there. Prior to that it was 35 to 40%. And even some cases and your ire. For our employees were in Hartford and now we're at eleven or 12% after all the mergers. Very good. Dan thank you very much and I'd bank were to keep you on speed dial in cases anymore breaking news on the story. Well they're probably will be and you call any time I looked on in these guys. Thanks again. Dan Hart Hartford current. Get your perspective I mean is it is at that Hartford is not big enough doesn't have enough Italian restaurants I mean if if if we used to be Hartford was for years is thirty years ago might. My wife was graduating from Trinity College in Hartford and a lot of the kids from Trinity College. Would stay in Hartford and go to work for one of the insurance companies yeah unity because it was the insurance capital of Lazarus effect I think my wife may have been offered the job this is in 1981. When she graduated college and she was offered at some kind of a job with one of the insurance companies I I. I I think they're leaving. Did Estonia where they go fishing here Maryland thrown in there and it's fascinating here the reason why I'm like you said on the Connecticut has always been the insurance capital of the world and I youngest more bigger a bigger opponent. Eight coming up we'll have a trivia question for you along with an update as to what's going on on Wall Street that's next from our insurer match dot com feed. Making your Smartphone even smaller here. Dell Motorola mobile lab by surging financial exchange show in nineteen Jordan who who played stores. This is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent day we see round leader banks all mine rent collection tool. He went automatically deducts tendons went and deposited into your account visit WWW duds he ran dot net to learn more would see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and Moody's may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer as we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourselves and your assets the best way to do this mystery trust. But don't listen to the fibs about having to give away all of your assets or control over your trust for the best on which is you may have US permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away. You can stay in control and you never need to ask for permission to use your own money Cushing in dome and the experts and elder luck have written a brand new guide top misconceptions about Medicaid irreparable trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dot com. It's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase 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 of faster closing co lead 776917900. That's 8776917900. Or visible leader bank dot com member FDIC's equal housing lender and MLS number 449250. 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Called today paid for four and 99 match or go online and ensure a match dot com. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner or call 8776917. -- 900 or email BDO at liter -- dot com for more information member FDIC equal housing lender. Form Wall Street watch a look at the market's performance so far today until Barry and chuck right here on the financial exchange radio network. The stock market doesn't seem to care about Donald Trump's pulling out of the Earth's climate deal that was a point one points John yet Dow's up to when he won the S&P up 328 at 2415. That's right around all time library. NASDAQ up another five what else is new yup so the market just a cut going right along and you know they're seeing at least 2% growth here this thing are probably pretty good second quarter GDP number. And you know what the risk of runaway interest rates. Now with the positives that's kind of gone away. Well yet that ten year treasury to 22 there you go what's the message there that rates are gonna remain low for. Ten years you know if you're worried about a runaway economy you're worried about a jobs program is gonna put a zillion people who work in the high paying jobs. That's probably not gonna happen we hear. Continuing in the same kind of 2% mode. Which generates low inflation and growth infamous stock investor's perspective again sinister society in general great. But from a stock investor's perspective. That's as good as it gets in because you measure the economy's you measure the earnings against the level of interest rates would you get by not taking it you'll Tina theory. There's no alternative. It would it's time for trivia or call this tough trivia the famous. Tower clock known as big bend. Ran out over the Houses of Parliament in Westminster London for the first time 150. Years ago this week. Who were testing your knowledge about big bad. What is the current name of the tower on which Big Ben is located are tech's number is 68680. I apologize for the difficulty of this question. First listener with correct answer wins a 25 dollar gas card what is the current name of the tower. On which Big Ben is located. Get that on yours part of the ninth and that was before their Big Ben Roethlisberger on the way that's right just nothing to do it brought nothing to do the Steelers or football. So I thought this story about blood transfusions. And first thing I said was geez how much is the cost is. I'd be the whole idea here. And you know how it is usually better blood and the first for the first time I've got somebody my age at a studio quite sometime you know holidays get a little too late fifties and you also a new sluggish you don't have to hop in your step. So what if by typical all my blood meant putting in the blood. Tucker though I want to be younger and I wanna I wanna be what you get greeted with Letterman as a Gregory Gregory went whether they're men. Then in their prime eighteen years old Tony nine. So what. Take my blood out in exchange for an eighteen year old Leo I'm a second cost 8000 dollars now it's a company called M Rocha. Reports on how much I feel you know of their version. The blood transfusions Arnold and although actually in the world stones used to do that they hear a lot because they used to use so much. Like transferred to happy they were so doped out. They've been periodically. Give blood transfusions. For for. No they think they're going to make it work well what can come be 8000 dollars is what they're actually are a hundred people have signed up to receive their infusions. I donated blood usually as you said comes from teenagers. It can beat people up to age 25 figure a little bit about the mutual Tucker 50% off your if you are too well how does it feel about it or grand. What you can you could participate in May be getting younger person you know blood and you know maybe feel even a little like the cult like John. But they're trying to picture in your blood transfusions can help the elderly and fight symptoms related to aging we'll begin with mice rate and they found that after they do with the mice the mice had better memories. May the memory about the subject to a witness it. But. Reportedly they've gotten some positive results we should mention before we decide to go here and I inject some younger blood in legal system. That the risk of serious allergic reactions is real well so did their lives of announcing that and if it could be a little risky and it's it's important but. Interstate that's the future you know 8000 bucks and you feel like age and note how long it lasts rightly so I put a you know twenty year old. You know bullet one year old blood in my system what are they take all your blood out where for just like Unita bounces there. Ohio Joseph the person I I don't think they like during your job and get real blow to. 6000 dollar loan wouldn't care if I were talking a bloodier. But if you're sick very if you release. If it works right. Opaque but it's certainly warns further up study yep and that's the real about it that's a whole point in crisis yet this is you know start up company implosion now. A sign that the author of how much I think all what I would do I feel like post when he was all right turn back the clock. Paid many of us are. Always thinking about securely retiring while leaving a good legacy not everybody can do it but we're fortunate to live in New England. Technology is improving and costs have come down solar incentives seem almost too good to be true. If you talked to alternate energy clients they're thrilled with having no electric bill summer even driving their electric cars with free power from the sun. In magic free solar power. 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They're under Chapter Eleven bankruptcy in Barry we have one in March field. And it's been closing for like we. That it's going to be pretty disturbing them it's a small spore then. In the selling everything from like forty to 80% off. And there's still lots of stuff left which is about like. How desirable everything they have is if they traveled dated takes like weeks and weeks I opinion RadioShack years. I would think he probably lost a lot of business to best buy would be hurting yeah. And from a retail customer standpoint. But then I think in this would be easy way to businesses added that the one little this is that they hand was being a place people go to yet the a contract with sprint. And to buy new equipment for sprint wars that causes that deal. I'm sure I believe they still haven't raised it with sprint. To sell there there phones in to help with with service deals your speculation at one point they Amazon take the world stores. And I like him as the one that speculation never came from him so I mean the speculation was that you know RadioShack disciplined sport. That are not being used properly in the lead stores he would be nice to have an electronics store that it's small but where you know when you crack your screen you could walk in and it replaced for fifty boxer he'd need power cord and they have everything. It goes part of the knock honorees he'd lock in needs I don't know if they have my baby they have been a lot of times they would. That's the problem that's where Amazon really hurt them Amazon does have what you need in the 72 days. It would be nice to conveniently walking like if that would crack that's green and you can't wait two days the shift on the does that justify that and they were leverage they had too many stores. Scott Kelly is out at CBS news I think he's gonna do one more show perhaps next week when word newscast. And it's still has his name on the show which I thought was interesting there were reports that CBS has basically kicked them out of his office that he was away and they went they were shutting down his office. It turns out though I've read on page six it is hasn't won that mission on the turns out that Scott he's the guy who told us people. Clean everything out there I don't want to do with it so. Bottom line is CBS is bin long time in third place on the theory. They dropped even more recently their demographics keep getting older and older stop at least an actual reporter but not a great anchor. And he capital's school presentation and he came to a confrontation between him. And some of the upper management CBS who won the war. Up tempo show. As Scott was like I can do so who's taken the deal going forward I heard Jeff Glor used to be in Boston. Jeff has been feeling in recently. Mason. Anthony Mason leads the nation. Was on last night the night before and he will be doing. Tentatively. Who in work. CBS does have a pretty deep bench. And the feeling is that the time they people in this somebody from another market. They could or they can go to people we have reporters are pretty it's that reporters. But yeah this is a big thing as Scott obviously high profile guys at CBS will remain there. Will re just doing sixty minutes which is a big deal. I mean that's that's their high profile show I quickly. That's what people watch that many more than twelve million people watch sixty minutes sixty minutes is a bigger deal with CBS CBS news CBS news in big trouble. The show's not that good. It's apparently just watching him he's kind as soon as. I mean we can talk about the pro trumpet in terms of the when he mentioned the president's name that's more and eat it really was kind of over the top man. I just think that it is the situation with him was was getting pretty. When we come back will be joined by Christopher Saki from the street we're gonna be kept talking about two companies. GM by the way reported auto sales this morning that's one of the companies will be talking about the other one. Is course Michael chorus witches they handbag up high in women's accessories things and I that I used to be really popular yet. We'll also talk about those two stocks and we'll have the answer to our trivia question next remark sure match dot com. The financial exchanges low. Move on FaceBook so make sure like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and duties may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Laker bella Plymouth rock and more. Their license for all types of insurance can continue time stress the money we've just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Barry are strong here and I'm joined by Jake too who's a vice president and leader bank and we're talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers with what is your message to the young couple hours 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 are making five and fifteen offers two for fighting house 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 do. Pay more than the asking price and a units 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 pats can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to Tulsa but this leaders thirty yes who we are really excited about this product we just launched its cult leader thirty. And essentially what it is is that fixed rate loan from where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest rate payments by one person that's very helpful offer because what it does is it gives you a 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 have always used leader 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. If you missed any part of today's show not to worry for the financial exchange showed dot com and click listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show does come. Formerly known as the clock tower the structure under which Big Ben is. Is located was renamed the Elizabeth power. To honor the queen's Diamond Jubilee in the year when he tore off a tough one but Tom from Dorchester nailed it tumbled giving it gas card. And our trivia contest has brought to by the Armstrong advisory group. Join chuck and bury it sky line at water place in Providence on Tuesday June 20 for an educational dinner. They'll discuss the market performance to date and you'll learn about tax efficient investing. In the state planning to space is limited to reserve your spot today at 803934001. That's 803934001. Time now for. Stock talk and joining us is Chris Purcell chief from the street Chris thanks for joining us. Rhetoric that he got a couple of stocks going in the opposite direction today we go askew with the name percent chi. I mean you've got street cred when it comes to luxury retailers. Without question the fact that. That's the state would be tells by quarters it's not doing real well in the him back business. Now I mean you know Michael where once I'm high wire in the will be all affordable luxury but it's stealing lead at the same construction. A lot of other retail scene. You know last night the company cannot reported that you know Natalie dismal expectations that they which shut a hundred. That's 100 stores or over the next two years they came out you know the negative same store dot com eighteen. You know for the last eight quarters we're gonna kick in and eat them in the coming quarters and just expected dot what I'd like to do. To call out there one is. They're being hit by Amazon which is making an outlet to move into hell. And I don't you know this but online apparel Amazon was the largest. Bender last year in the eighteen to 1834 year old market within Y eight. The volume at Nordstrom. An air force to be reckoned with Carol I think we received more creative destruction here. The other one though is that 100 stores that are closing that is another negative. Or mall operators like Simon Property Group the surge is seeing more retailers typical tanker ship stores. But at the same time I mean that's a legitimate excuse I think for every retail with the fact the matter ring is coach. Everybody buried them but there haven't resurgence and good and Gucci is still the gold standard so. There's something even in store that they're not getting right. All right yeah I think without a doubt there's definitely eighty product slash nick the issue over or worse. If you think it's eagle with. Retail regional can be very fickle would want pot is no law he recruit example that would rock. Everybody war now your partner. On the positive side General Motors. You know that the numbers just keep coming through for GM the stock is up quite a bit today. Yet it is it but it I. Think the issue is people are kind of kicking in some of the underlying. He is that we first off day to instill let the little more than 1%. But there's other data Al pitcher of record number instead of being used ink and cars are staying on the lot. Longer than they happen sometime in fact and a JD JD Edwards is reporting something like seven PP. On average you're locked in that high in 2009. Down. My concern longer term is we see our consumer debt and certain other factors. More than that and it the proper line. Automatic automotive manufacturers and our state on line long a lot longer mean they're gonna wreck you back production. Not a good mix for the back at the you're these auto. Yet they start out like gangbusters in January and February and the numbers really tailed off after that in the domestic auto sales. And I believe GM has the largest inventory of anyway I believe it's over ninety days. Because that number you mentioned is is is the average so that's going to be a difficult thing maybe good for consumers though. I mean that you're you're right at you spit in my line with the with the very good and and what what about General Motors and its full disclosure I own it I think NIC alluded to the going forward I think the positive for General Motors will be would make it tough times people can realize just how much cost. They've taken out of the business since a recession. It's a guy that is. I think that's a fair point but the reality is. They will get very little credit for that actually demonstrate. It it's a would simply go afterwards so what what do you rate of these I mean obviously words it is a situation where can they can make well. Yet though in in my product at a grow we expect a short position. Recommended and Simon Property Group took some rest Ichi again courses and that the course and cause another. You know negative data point that company and we expect a short positions GM. Like even some of the concerns that we talked about and again that. The near term no longer term we were probably the street this at that as they come to light you're talking about it demonstrates that profitability. Down you that could be a company is that we might wanna own on the next auto cycle. Interstate Criss for such for the straight thanks very much appreciate. It. Kraft for such from the street submitted to prospective onto a cart to companies going in different directions to the car business' top does the you know it's always been tough but it's Ian you're dealing with multiple unions the right. You're you're you're dealing with a product it you know a lot of liability to think about the liabilities of your attorney said his car off the lot. If somebody can studio. If they if it doesn't work out in defense of General Motors though they're old breakeven point was a national sales level of about 1514 to fifteen million units. It's now supposedly between ten and eleven million units though. These companies when things aren't good they might perform better that you think and you you know you look at a company like General Motors dividend on who now close to 5% four point 64 point 7% as though you buy it seemed to dip trades in the rain yeah 3035 dollars. Do you wait to go down thirty you can pick and that there and they stood there ago. All right thanks for tuning in to this hour of the financial exchange John Mooney is filling in for chuck sought out. And when we come back what are we talking -- full market update for you and there are some regional stories that we'll be getting to from our insurer match dot constant. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older annuities may seem like he popular choice to add to your portfolio and if they are you should call me rate now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. -- you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at 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 of the SE equal housing lender stimulus number 449250. Subjective credit approval leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends that the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars 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 in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry -- bella Plymouth rock and more of their relations for all types of insurance and continued time stress the money -- just one phone call and one relationship. Called today 844 of 99. Exchange quick tip of the day Todd one of the misconceptions. That I hear regarding these Medicaid you're vocal trusts. Is that he had to pay a higher rate of taxation. On assets that are held like sea of a brokerage account and it has dividends and income or you have real estate in this trust. It's got rental income is it true. That win assets are held inside one of these Medicaid durable global trusts that the rate of taxation is higher if the answer is its faults but again. The misconceptions. A rise simply because there are many kinds of your vocal tracks out there and so. Yes there are irrevocable trusts that are not grant torturous and to result in paying. Taxes at a higher rate that's just somebody if they have one of these terrible public trust should they should. Verifies. That is in fact a grant to work trust absolutely go back if you if you been paying taxes at a higher rate go back here draft. And make sure that you ask him is that he grant toward trust. Ours our current tour trust so what does that mean in English that means that all that as you said bury the capital gains the interest the dividends the rents anything that's generating its income in this trust is taxed to you. As if you were the owner for income that's perfect so it just flows out of the trust he gets picked up on your personal return. Absolutely no higher taxes get the facts about protecting your assets avoiding probate and keeping your money in your blood line all while reducing your state taxes requested brand new guide from Cushing handle it's the top misconceptions about Medicaid. Irrevocable trusts 8668485699. Can download the guide right now by going to legal exchange showed dot com. Or call for free 8668485699866848569. Whether you're celebrating a milestone toward diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense give leader banker called them learn more call 8776917. B 900 or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead as we get older they say claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourself. And your assets the best way to do this history trust but don't listen to the bibs about having to give away all of your assets or control over your trust for the best on which is you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away you can stay in control and you never need to ask for permission to use your own money Cushing in Goldman the experts and elder luck have written a brand new guide top misconceptions about Medicaid or read a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website and legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dive come. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by the leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visibly your bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. If you're real estate or property management company Unita banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative easy rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner call 8776917. -- 900 or email BBO at leader bank dot com for more information member FDIC equal housing lender. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city you. World stay informed and today about economic and market trends plus breaking business news. And the initial exchange with the very Armstrong and each so. The stock market does not seem to be bothered. By the fact that president Donald Trump at 3 o'clock this afternoon is expected. To withdraw. From the terrorist climate arrangement that was made under President Obama believe that we use 2015. I everybody it's very Armstrong and John Moody with you he. On a day where the Dow's up nineteen points. Will straighten it sweet spot forty bucks a barrel good for consumers yet company steals the team you know they. Yet companies would like to see a little bit higher priced in this but they can survive. And it's great news that the popular about two dollars and twenty cents a gallon gotta like that that's after all the taxes so. Things look good the Dow was up 22 right now obviously Pia three kind of a quiet day quiet in the daylight that he is good. I think they've really liked the fact that eighty 253000. New jobs created last month. That's triple the increase in the population that will be. Growing into age related employment so you know we create more than 80000 jobs among them. We're feeling the new population that triple that is fantastic. As our back to that point John we're gonna be joined by Binyamin Applebaum from the New York Times talking about a lack of workers and companies struggling. Because they cannot find workers to higher. One of the states that's really struggling state of me talk to anybody in Cape Cod there have an act of time get ready for the summer. Real difficult time anything related to Taurus and trying to get those temporary jobs for three or four month. Tough hired it's really hard to find the work and that these are expensive place to live to the park yes. Let's talk about fox and MSNBC. I guess their neck and neck in the ratings used to be. Where fox just dominated. The you know on cable news. And the loss of market share or is just more people tuning in Anniston is really the latter. What's Anderson is fox has been number one they are still number one. They've got very good ratings Tucker Carlson's do well for bill Riley Tucker Carlson has been fantastic effect is numbers actually. For awhile showed an increase of Portland was getting a lightly was the king of all dominant of cable so fox is doing well but on the other hand. MSNBC. Has gone from nothing to now almost neck and neck with fox were number one. Pretty amazing story Rachel map and I'll. Has really benefited from the fact that a lot of people. I have strong feelings about Donald Trump on the negative does. Really when you saved the day equaled via fox they equal the mean that critical category 2554. Right but overall fox is still that larger viewership growth and they do the larger viewership the campus problems they have a lot of old people and nobody want to all people in but again I don't get it not if they don't want them. It that's at. Pride bad terminology they're less desirable from an advertising standpoint it's a one of their behaviors are locked in if you got three Buick that you love and I think years old and you sixties like you talked about buying a clear that the blue in the face a maverick adventure if you're 25. Yep block new car yet. You might listen my pitch today that we goes pretty good car so. They're less desirable. Older viewers but they they still count there's a lot of things. The shows we've watched the release advertising like Madison's yes with the Viagra. I don't mention that but but the fact is with with fox and MSNBC we have a trend here. Regardless of who was president. The party out of power gets great race. It was this feeling that. That bomb in office. We don't like an MS Rachel's benefiting from this is much just blocks benefited from that with the Obama right. Rachel's now benefiting from trump and I are always reminds me of a comment that was made by Rush Limbaugh. The famous conservative commentator he said the best thing in the world that ever happened it was Bill Clinton. And when George Bush was elected it was the worst thing that happened because. It's people look at sites say. He's doing pretty good job right the good news to sell its always the other side that has more compelling radio or television. Are so MSNBC catching up to fox. In the critical 2554. Not all. New York Times will offer employee buyouts and eliminate. The public editor roll. Now what I saw this headline said while they must not be doing well but. Turns out they're subscriber base is actually increased over the last six months they have done really well another beneficiary. Of Donald Trump also people looking for real news. Get the little ideological yes there are like so sick and tired of Reading stuff on the Internet that is made up. The New York Times the Wall Street Journal. That you least like trying to verify what they went and and so what it is there. Readership has gone up now there's a couple of things going on here one is the trying to shift the balance of editors to reporters and by creating more people on the field getting information that part of it the try to put a lot of editors. It's a lot of the editing being done about it. Automated selected him computerized that's doing it may because their hiring more people in what it appears to me I could be wrong. Seems to me like you're getting rid of a lot of 150000 dollars you. And replacing them with young 50000 dollars salaries. With lower health insurance cost I think that's definitely a large part of the the other part of it is they want some people going out there on the street knocking on doors and the yeah information they want reporters exits people out there you know get dirty and do in the dirt doing the dirty work and fewer people sitting in the ivory tower. Making decisions on what is appropriate. What were happening in in in in newspaper business is we're transitioning from. When I call publishing dollars to digital dimes. And there's a lot digital dimes out there but their guns do you read a paper they get physical paper I do I do not. I've read him online I do too I was that I was one of the last guys to give up. He is printed version of the Wall Street Journal's probably 510 years ago you'd be peace there at the problems. Probably you can. Cover so much more territory. Reading digital versions that you can physical paper. IC six papers delivered in it. Indeed he's thumbing through them and cutting it's a date yet you can't remember that you kind of yeah the story they need to make your story if you get. Traditional. The globe has done a pretty good job of prioritizing you know lead story. Probably have votes on these digital format to Wall Street Journal. I get a visceral feel for what like what's being. With with a paper you look at that big bold headline you can actually feel. Like what's important. Everything looks the same I know that's not a problem but I. I kind of missed touching and feeling in newspapers and seen that big ball that line. This is the sixth time since 2000 and neat that the New York Times has offered news room by. We're talking secular decline here. We're talking about a change in the way people consume information and so much information that was free to let the other probably have his. Yeah there's a lot of fake news that was also pretty good news for a lot of newspapers continue to go out of business altogether. And then this play with the Boston for example. That's on line for four. There are there are decent. Free sources and that's that the continuing to wonder how that model works though the long term. Not particularly well you know he just the the monetization of that you have to sell a lot of bad. In order to support that newsroom news is expensive very expensive and that's a very difficult the format to support them. To fill summer jobs mean governor releases non violent. Prisoners visitors flocked to quaint towns along the Maine's rocky coast. Each summer but employers say they are struggling to find staff was that the truth I mean. You talk about me having this issue you talked about the lakes region of New Hampshire talk about Cape Cod. Yeah it's it's become almost a crisis here they they simply unified help that this really got my attention Berry. This program by governor of the page. The sentences of seventeen male inmates who committed low level offenses now. Working at it in just the last few days. In the administrations now contemplating a similar move. Among female prisoners. I say when it what I thought Jews Hindus. You know Acie Law locking prisoners on the highway picking up trash and things like that yeah I buddy's team to the restaurants and then bring him back at night in the next stop. The but I just about the charter joint tourism destinations though generally Berry issues that are just having a real difficulty. Struggling to find work and we have a lot of people to listen you know locate him but how does this mean he's not a problem. 3% unemployment me aging population. Fewer temporary foreign worker visas and if there's always the how many stories are we gonna see in the next thirty days. And and is the mayor of Boston and say we got jobs program it gets of these kids to work. I mean you look at our inner cities in a lot of these kids get themselves in a lot of trouble during the summer months one that strip about a boss sent him down the key. And let him work for the summer indicate that you make 5000 bucks come back with a bunch of money in their pocket. And and have a fun summer. He of these restaurants they actually holds the workers yup that would these workers come over from Ukraine or Jamaica. They they put them. In house is that the bought over the years it's like a dormitory and Nantucket Martha's Vineyard that's probably get most of the award of block island great idea what it's taking foreign workers. Take the kids out of the city that are. Seemingly have lots of time and take it to the south in your Dorchester portable Abbas put a little place to stay inner city Hartford take him new pay grade I. And I don't like doesn't happen but it doesn't that he can assure you that. Coming up will be joined by Binyamin. Apple ball from the New York Times he wrote a story that caught my attention should catchers as well lack of workers not work waves on the nation's economy. That is our next topic from our insurer match dot com studio. Berrian should get the latest every day beginning at ten only here on the financial exchange radio network. As we get older the state planning becomes that much more important hi this is very Armstrong and if you have loved ones or friends that may need nursing home care. You need to protect yourself and your assets the best way to do this historic trust but don't listen to the kids about having to give away all your assets -- control over your trust where the biggest thing above all which is you may have to ask permission from your trustee to use your own money I want you to know that none of these statements are true you don't need to give everything away you can stay in control and you never need to ask permission to use your own money Cushing and -- and the experts in elder law ever in a brand new guide called the top misconceptions. About Medicaid irrevocable trust this guy details thirty of the most common misconceptions about state play anything you can get yours today by calling 8668485699. Or you can download it right now on our website legal exchange showed dot com that's legal exchange showed dot com or toll free 8668485699. Your financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 84499. Match let's 8449. B nine match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Hi this is very Armstrong and like you I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and duties may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated guarantees are based on the claims paying ability of the insurer. If you're real estate or property management company you need a banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitized paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real -- clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as they're banking partner call 8776917900. Or email BB EO at liter bag dot com for more information member FDIC equal housing lender. Miss her dearly poll question had financial exchange showed does John. Vote your conscience there hard just vote go to financial exchange showed dot com men's tennis the way. It is a lack of workers not work that weighs on the nation's economy goes the headline for an article written by Binyamin apple bomb from the New York Times I Benjamin Dario. That so why do we all the sudden have a worker shortage wasn't that long ago and actually unemployment rate was close to 10%. Yet that sort of crept up on that you know it's been eight years since the end of the recession this is now one of the longest period of uninterrupted economic growth in American history and slowly but surely we've gotten back to a place that could help the people who needed work of really founded for the most part and did a growing number of state around the country the problem now is that they can't find enough workers. I hear that but then I look at the labor participation rate numbers come out in the unemployment report each month. And there are still a historic lows at least relative regarding women in the workforce you know. Yet another really interesting aspect of the problem. It looks like gave portion of the working age population. Has simply left the workforce. Some of these are people who have decided. That they want to care for family some of them may have disabilities. Some of them may have just made an economic decision that it's not worth working we don't have a totally great understanding of why it has happened. But it does seem to be the case that many of these people cannot easily be pulled back into the workforce. You know I was looking venue and at the men aged 2550 for their labor participation rate. In in the 1998%. Of men 2554. Working and today it's 88% do you attribute that. Things tea my observation I think a lot of it is drug addiction and chemical dependency. Disability may be perhaps fate disability claims. And simply an unwillingness to work. In broad terms one thing is. Clear which is that it used to be the case that if you are working age men you really didn't have any choice but to work there wasn't any other way to survive right. And it is clear that a more generous social safety net. Had allowed a growing share of the adult population. Not to work. Now in some cases these are people who you know we as a society probably. Don't want working they have injuries or disability is then there really would make it difficult to be in the workplace and that used to be that they had to strip along and now as a society we've decided that we can take care of them without imposing on them in that bank. In other cases it may well indicate that people are doing something that we would regard as shirking that they're taking advantage of benefit. And then choosing not to work even though they could be productive members of society we don't have great information. On why exactly these men are choosing not tour. I wonder how many of them though might be men who decide you know might my wife makes more money than I do then we have two kids. After the cost of taking care of those kids are having us and watch them if we cheaper for me to stay at home. Anecdotally I've certainly met men who fall into that category statistically that's not a huge part of the issue a lot of the guys who aren't working actually single. They're not members of families are larger households where it's obvious that the woman is supporting them you know obviously maybe cases in which have a more informal relationship. With a family member or was partner but. Add to the preponderance of these guys are actually single and not mine. You know I feel like. I didn't tell I've been anticipating wage growth for a year now in and I you know study old economic tables that tell you when to get unemployment under five and a half percent. We just will start to grow it a formidable rate. I'm very disappointed wage growth by what are we about 3% year over year now Benjamin two and a half. Yeah you know it is it is disappointing and I think one of the big points that emphasizes that there has been a lot of economic growth but it has gone disproportionately. To the people who own companies were living in an hour of record corporate profitability. And stagnant wages and those two things are related that cute sides of the same coin with happening is that as corporations make more money they are keeping more of it for themselves for their shareholders and giving less and it's their workers why that's happening is really important question. First some set of reasons it feels like. Workers have lost bargaining power they've lost the ability to lay claim to a larger. A corporation six. Will worker shortages caused automation to arrive sooner I mean I'm taking about. If you go into panera. You see audit you know the U order on. An addiction that not that if that you if it's automated McDonald's is doing it. Are you see a lot more automation and robotics as a result of wage error worker shortages Benjamin. It certainly increases the incentive for companies to pursue those types of technologies they need to exist so there's this sort of a hurdle there was someone needs to actually create the McCain. They can do the work in place that the work but we're certainly seeing that that kind of pressure is really pushing retailers restaurants. Barmes. To find technologies. They can do the things that low paid workers used them. Very good thank you very much for your time and Binyamin apple bomb. New York Times talking to us about labor shortages and rarely does a week go by John where we don't cover story. Where companies are complaining about a shortage of workers. And you know over five million people right now five million jobs are going unfilled and that number is rising you know on the jolts. So yeah we've got this dichotomy where there's you know people can't find work but the work the employers can't find people right so we definitely have a training mismatch here. And don't underestimate the power of the silicon chip which is put more people out of work and every immigrant times under well you've got worker shortages. That a lot of these real. Basic jobs do you think about. Well you lock in to a Lowe's or Home Depot and right there used to be a dozen cashiers there and great that we checked you out of the lows that I go to. I hate it's rare that you talked to a cashier read especially here only by and one or two items in their easy to ski and you just walk right through you know he scanned them and in you never talked about. Yeah they've cut down the number poise I was just the most to Lantos the same thing was like one cashier working at a very large place. They're trying to get people out helping you on the floor as opposed to the cashiers but still you're right there's there's fewer people needed to do the job. And people people want low prices yes and the you know the extortion saying if you want low prices. We need to have fewer people here. And the fact is they have found that people would actually prefer less service and lower price that more service and higher price. I'm Carlos is finding what you want. That's what I struggle and it's hard to get help. It's harder than it used to be Leo yeah you know it's it's a challenge. Airlines are growing more interested in TF green airport now TF green is like this little jam. Located. Just outside of Providence, Rhode Island it's a terrific airport but if you don't like traffic. In you'll like he didn't geez marking cheap much cheaper parking what is Logan. There forties tonight it's ridiculous in the places even like off airport 125 to 28 dollars today. But yeah I mean so TF green is carved out a really nice niche in the nice thing is. They found that for two thirds of the population of the wing went. Is within 75 miles. Of TF green. And Lotta people from Connecticut used TF green as the airport and a lot of people in the South Shore and the cape and there's more and more areas of their carving out a niche on. And they have a new chief executive and president of the Rhode Island airport corporation. Panic if car on line. Who before this did a great job at New Orleans international recruiting like ten airlines when the war which was big trouble with a guy like. Put them on the map and two great. They've gotten more aggressive in their marketing this great access the entire northeast. And you're doing a lot of Caribbean flights in a lot of discounts up next we'll have trivia for you along with a. Story from the veterans association VA. Talking about marijuana in the BA from our insurer match doc on student. You gun barrier and strong. Financial exchange a look financial exchange radio network. Your dream home within reach with a Jumbo mortgage loan from leader bank their Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visibly your bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and like Q I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older and Moody's may seem like a popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about a new duties there are many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth about annuities that's 803934001. We can download the guide right now at financial exchange showed. 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Like us on FaceBook and follow us on Twitter that's. TF we show them. Breaking business news is always first right here on the financial exchange radio network. Tussle hitting a lot of complaints regarding the difficulty of our tribute to. Well we'll just have to deal because you get it on this gas card if you'd like direct those complaints towards her yet on what our I don't want do that night. Texture complaints to succeed succeed we're doing trivia today don't know. Don't loosen your standards Barry stand tall thick. And strong we have strong standards you run out of people supposed to know about the history of big day. You're gonna have to learn the appeal it or not and would talk and Roethlisberger is by yep you're right. Big man it's the Davis clock tower. That ringing out over the house of parliament in Westminster London for the first time 150 years ago this week that's who were testing your knowledge about I don't know why. How many years did it take to build the tower. On which big band is located 68680. Is or text number. It took more years I'll give him some more years than talkers that'll I think it and he told you his need to weird. How many years did it take to build the Tower of London on which big band is located text number 68680. The prize is a 25 dollar gas card. So why is the VA secretary. Looking at medical marijuana for veterans actually applaud this idea because there's been. A lot of demonstrations. That marijuana is an effective pain. This is the issue here and I ya gotta give them credit veterans affairs secretary David choke him. As an open mind about this and he said you know what if we're concerned about that Rumsfeld. We need to look at the fact that there's increasing evidence. The medical marijuana has a very important useful. Resource. And The American Legion which is notoriously conserve and ultimately you can lead via their support of the executive and they've never been known for social liberalism now and I wonder if some extent the American regions comments about the Fed may be underlined the fact that this is something that needs to do. Because you know his quote was there may be some evidence that this is beginning to be helpful in we are interested in looking at that and good for the VA for keeping an open mind right about let's find a way to make our veterans healthy right. And to get rid of their pain right and it had to use it anyway Lou lineup let it get paid for work and be grown in the state in which they reside. They if you live in Massachusetts she should be of the buy your mayor won we frighten VA should pay for it if it's gonna help if there's other duties are replacing. Marijuana Andy you're using marijuana in place some other prescription. Yet I mean this might be you know keeping them from getting an open question. Obviously they're they're looking at strong additional benefits of the fact that it might be a lot better that one of other medicinal alternatives that might be suggested. Hey don't forget leader bank is offering me home equity line of credit. At two point 99%. APR fixed for six months. And then its primary for the life of back credit line. And I'll tell you there are no closing costs which makes it very attractiveness is something you might say you're so I don't really need a home equity line of credit. Doesn't cost anything to open it in it serves as an emergency fund in the event that you ever need to use it. You know. If you lose your job you know India to get home equity line of credit to do it now have a job in home values are increasing. Anyway its leader banks premiere. Home equity line of credit that's what's called two point 99%. APR fixed for six months and its primary for the lack of alone. No closing cost the phone number if you wanna learn more is 877. 6917908776917900. Or go to there website which is leader bank dot com for additional details. Well number one last time 8776917. B 900. Six Newt yet yeah that was developed and it's I guess that's new development co-founder of Microsoft Paul Allen you know Paul Allen of course don't sports franchises in the along with Bill Gates started Microsoft. He's involved in some really interesting ventures and and none more interesting than this it's called straddle launch. Launches rockets into orbit from 30000 feet. By half dozen 747. And this thing ain't small. Could launch the three satellite rockets in one launch. And they're saying the first launch demo will be in 2019. That's pretty because six engines 46747. Engines and it. And it goes up 30000 feet you know which is if Kerry think about that we can its capacity. 550000. Pounds which is unbelievable but just. He parity had copper giving up that I would have much of runway it I would if it needs a special right. You know as it does so why if you look at it is actually has two calls holes. Yeah it's it it's a length of 238. Feet now and fifty feet tall yeah it would get up there can launch three satellites rockets in one launch. So this could be pretty good thing it's that it's fascinating to think it's it's the sizeable hole hangar you know. I don't believe that have been audited get into an airport with a custom built higher public can only take off from that that one airport one place united it's at the Mojave Air and Space Port California. But yes so it's expected launch in 2019. And interest. Whoever post a 708. Million dollar loss in their finance at the company at this storied actually broke last night it all the details this morning. Yet had a finance is leaving to join another start up in San Francisco that is never bury a good sign. When your head of finance leaves to start a startup. And you know you are like one of the most reputable. You know chords out here the biggest one eagerly anticipated IPO which some public over. That they've won problems they've had one of those sex gambles. In an ad that. That doesn't bother the the it's the Travis client data video didn't bother me. I'll tell you that the one thing it really bothers me about Amber's not nodded though the behavior because that can be fixed yet right. Which bothers me is this whole deal with eleven Dow ski. And on OT TO you know that. I just. I wonder how being an issue bad news if you're really. Hoover was. Implicated. In guilty of stealing trade secrets from Google. I just. I don't know kind of the second and it's supposedly worth seventy billion dollars and I think he's a big question that's a huge question mark in revenues from what like three billion quarter but you know there growing at 18%. Now which is true but I mean. It's actually looking like a mature. Company here and they're still boosting you know three quarters of billion dollars so I wonder if they missed their window at the pump. Well they still raised a ton of money. And unfortunately the IPO market seems to be a market now for companies that it raise money privately in unfortunately for if you know. Working class people trying to make a buck giving an IPO it's going to be really tough because the insiders. And the private equity there yet all the good stuff like. But who I think is when it's serious headwinds here. And yeah. Everybody uses it hop in hop when they can turn a profit. And if if revenues are growing ET what they're gonna turn a profit when the computer can drive the car. Indictment there if they drivers anymore his drivers are 75 cent they're keeping 25% of the fair and drivers keep its. Yup and it's going to be increasingly competitive to me that is a major competitor. And there's going to be a group that as a partnership Google. In General Motors and General Motors and General Motors owns a big chuckled at least 10% quarter million dollars and so. Yet there's a lot of competition here burst into a business the question is when they did you make money that could be some. Among. Diners are finding thirteen dollar burgers are hard to swallow that's one of the reasons in tuck these guys are eligible to go to go to five guys got to go to. Shake shack that you get to get a bloody mortgage. If that's not it's like a box. Thirteen dollars that you want to go to fri five guys five guys wrong for the meal got to get Fries. I don't get Fries aren't going there for the murder. You know if fry a little kid and an American are you. You know what I'm coming okay. They're they're having a tough time with its it is I think there's a lot of resistance. To pay in it to go to five guys and have when they're nice birders him. A drink. And surprise is. Notes thirteen to fifteen bucks what do they do it for a lot less than that at home with the Wall Street Journal profiled it again this guy it at least nine years younger than talker but it's a twenty year old who go to Rutgers. He says he used to go to five guys for burger once a week but we this Fries and a drink. Wisconsin thirteen boxes and he said look I I go to Rutgers I can't afford this and the other problem is. These joints that serve these burgers then are popping up left and right and on top of that we're finding out the launch business in the whole industry. Is weighing you down because any people don't have the time to take off the launch from work. And beat the spread between the cost of what it costs to buy something at the grocery store. And by at the restaurant is the largest sport and it's ever been great prices are dropping at the grocery. Increasing at these places that it serving thirteen to all workers now looking at the menu right now in a cheeseburger 769 but then when you get the Fries and drinks you look and a close to fifteen bucks right. At that that's a lot you know and I don't get that's a leg and if you did the same thing at McDonald's we talk and eat. If that you know maybe I went with a big Mac and it just. That's that's where your McDonald's and you win these in your Burger King if they can increase improve their quality. Is there qualities well but there. That's a little that that's exactly what their new CEO was decide to do and that stock is but but but the best performer in stock market this year. They've upgraded their menu and Ian at the same time they've reduced the size the menu. And they found a sweet spot where they they get somewhat better food for a little bit more money and there's definitely an opportunity there. The up next will be joined by Matt activity from rotten tomatoes we're going to be talking about movies that are coming out this weekend in addition to that. We'll have the answer to our trivia question from our insurer match dot com studios don't. Battle over the trump agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here with a battery in shock on the financial exchange radio network. Hi this is very Armstrong in late Q I'm watching president trump lay out his agenda very carefully because I know the decisions he makes may affect my clients on the fiduciary which means I make decisions that are in the best interest of my clients many of whom are retired or have reached retirement age as you get older annuities may seem like he popular choice to add to your portfolio and if they are you should call me right now to get my free guide the truth about annuities there're many to choose from and many are designed to provide income for life but there are risks associated with each purchase call 803934001. Gig you're free guide and learn the truth. About annuities that's 803934001. We can download the guide right now at financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated guarantees are based on the claims paying ability of the insurer. As we get older the state claiming becomes that much more important and if you have loved ones or friends that may need nursing home care you need to protect yourself and your assets the best way to do this is through trust. But don't listen to the kids about having to give away all of your assets or control over your trust or the best on which as you may have to ask permission from your trusty use your own money you should know that none of these statements are true. You don't need to give everything away. You can stay in control and you never need to ask for permission to use your own money Cushing and old and the experts and elder luck have written a brand new guide top misconceptions about Medicaid or rev a couple trusts. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. Or you can download it right now on our website at legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dot com. 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Or email BB EO at liter -- dot com for more information member FDIC equal housing lender. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends that the insurer mention agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers at 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more of their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. Security suffered two securities America team members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong. Sharks go to. Breaking business news every day right here on the financial exchange radio network. It took 34 years to build towers on which big band is located. And the winner of that was let me from North Andover who get a gas card. In our trivia contest brought you by the Armstrong advisory group. Join chuck Ian Berry at sky line up at water place in Providence on Tuesday June 20 for an educational dinner. They'll discuss the market before us today and you'll learn about tax efficient investing in the state planning to space is limited so reserve your spot today. 803934001. That's 80393. 4001. Are mad at should be a rotten tomatoes stock on joins us for our weekly talk with him. Previewing the upcoming box box office mad I don't know I. Do well. Yeah I was gonna say it's looks a lot better than last week we're hedges utter garbage with pirates of the Caribbean and Baywatch which I can't believe it still made a movie about. But anyways what are we looking after this weekend we get a big one with Wonder Woman or. Yeah now one well. Libya I would expect. What the price the I think the it is due monster bit. Partly it's a really good little you know comic book movies are you right now bill in the world looking at now. Almost. Ten years of that being some of the biggest failure in Hollywood on. Yeah I mean army is still eating those up and so I don't think there's any end to that in life act by year. Is that the line with the share it ever that an established web and it yell at bat but this is. Such a better then Geithner as well. You know. Great chemistry between the Lee. The story works really well. We care workers and actually good though. On. He. And probably more than once. Yeah I'm looking at the reading for Wonder Woman right now it's rated at 92% rotten tomatoes dot com which is really really good movie so looks at. Like it is going to be a big hit this I wonder what summer yes 11 wonder well correct you're telling me I should elect I'm not gonna go watch it because I'm not a big comic book guy but. Looks like the box office will now and in 92% rod is that's pretty what's seal we got here mad this is one I have not seen. Marketed whatsoever but I remember reading this as a kid. With what the captain of the yeah yeah I remember this though. Yet that this is pretty solid at a certain and critics not only in all of her music to art a critic really liked it and stated it fun and silly. You know kind of you know little gone so it humor. And that. There indicate they're still reading these books are gonna let this and dull the parent have to take them are also going up at the time which is kind of the book that. Recipes or write like you want them and meet the kid they're easy to abuse that you want but the Ambien that vehicle. Are not in the early eighties and jokes mixed in their you know meant. Right or you know at least that or. Interest in Brooklyn. You know a bit when a lot of the you know it's something similar to what you know that. It you know it would avoid the but it out at a London. We need that break point out here like heart. All. I think that we'll do well you're not quite well when it ought. Are able moving on from the box office in the much anticipated release of Netflix is a fifth season of the one and only house of cards. Just came out this past Tuesday I watched the debut episode I yesterday at those phenomenal but how's it being greeted. But not quite. And they'll still doing pretty well that night that but that might or might Wear out our upper orbit and all the while. That. In the political in buyer. That we never would have thought. The part that I'm in a little pain and I think where. You know those he's been watching the present or you're watching area out in a much. I've. Think we're quite a network. So. I think. Apart from the dramatic standpoint and from that little bill is an. At least I don't wanna say anything specifically about the patient but more now that it is it helpful wonder as the media. They try to get in the popularity of the outlook aren't realizing that and we'll we'll really get people who did so. In my reaction as well as you know compared to the election hanging over at a compared with president. He'll feel little pain but nothing that the that they perform. I think lord there really are sorry I got it right is really what she's Phnom. She is so all those so. You know you also in my though died you know that when you Robin Wright there. A couple of days ago while Matt thanks for the time it'll tucked in next Thursday okay. Breaker or text that. That's met actually with rotten tomatoes dot com use both watch house of cards Johnny you have right now I do watch it now I just I had so overdosed with politics. That I I couldn't. There to watch Jeb I would say no I don't watch us person. Sick of politics when this is a very interesting spin on the behind the scenes of the rise it's a politician you know him what steps he'll take you know I don't care like some very dirty stuff I don't care. It's a great show I'm still going through withdrawal from the last one story like. The last one last election well yeah. It's what you I mean those pretty much like how's the currencies in that election we just had an incredible a lot of people. I have a lot of friends and he says Abu I don't wanna talk about politics ever again. Yeah I mean the they've done in political junkie and I just went. Dow is up 42 points the NASDAQ is up 23 points oil's trading up 52 cents a barrel at 4884. Gold. Down seven dollars and ninety cents an ounce. At 1260. Seven announced Don looney thanks for coming in today thanks and have a lead. Well Tucker sold at the hello my name's Barry Armstrong and we broadcast from our insurer match dot student.