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Full Show 6-16-17

Jun 16, 2017|

Full Show 6-16-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of tour exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks are. Earlier this year we reported rumors that Amazon may have an interest in buying whole foods. The synergies pretty obvious. Well it turns out those rumors are true and Amazon has agreed. To buy whole foods for thirteen point seven billion dollars hi everybody it's Berrian might with you here on a Friday. Quite unusual. To see a merger like this announced on Friday Michael usually these things come out Sunday night. Monday morning yeah it is this the big news. Really impacting the entire August. Groups restore markets. This is a 27% premium believe in the moderated price for a whole foods yesterday. And you know the other big. Food markets really taking action today so Supervalu down 18% Kroger down. Fourteen and have target down eleven and Wal-Mart even down 7% and Costco sales percent so. Big moves in the market today let's talk about the significance of this deal because the on line or free business has been slow to do well. And I've tried it I've tried. The people odds service I think that's really the only one I've tried I've tried ordering a few. Things from Wal-Mart Terry and that even alerted a few things from endless. But it's never bin. A fulfilling experience and others have never able to do my grocery shopping. Online effectively and I think I enabled by Apple's online and felt good about what I got delivered. This now I wonder if this is the transformation of the grocery does the stock market by the ways telling us. That this is the transformation of the reform yet for people are betting on I still struggle with that I'd like you and you know I really struggled with the idea of buying group online personally I like walking through the Ohio and I get ideas from them and cook that many shots into. I can't I've tried it I've gone online popular trees and awed out with staples and found no I don't have anything to cook with what I've bought any particular story that's out. But it changes your behavior of give an example right the the Amazon effect is what we're talking about here. The other night that he average realized via running low on shaving cream. And on Amazon didn't even think about driving in my local CBS Murray it would just. Two years ago that's how I would have wrecked aid now late I just ordered on him. Zahn will be delivered in and so they started the edges is what Amazon does. And then in the big plunge now understand Whole Foods Market has 431. Store locations across the country. Walter Robb who's CEOs and stay on he's gonna continue to run the company. But these forms stores are going to serve as mini warehouses. They're also going to serve you're gonna see little Amazon trucks parked in front of every whole foods story that you they may use seed in the country. Right and people are going to be able to go I think the business model for this is. You're gonna get to work in the morning and you say gee I don't have anything and says cook the kids tonight. And to go on and order it and it'll be on your doorstep. That day and at 5 o'clock I would himself yet god that's the only way that'll work and keep in mind so hopefully it's marquis take a look at that stock is is a stock that. Few years ago was trading in the high sixties. And this is a stock that has really struggled the last few years and so. Yes is a really big move for Amazon it's also you know it's not bat an attractive valuation to get into Whole Foods Market. Yelled I just looked at the I I look at the model he added aspect of their bottle talkers going to be one where. You don't walk in with your cart in your full right. And every time you buy it when you buy six Apple's rate of skin on your phone yes they knew go to go to the seafood department years sake and I have to pound the swordfish that you'll stand that on your phone or put in your cart. Or your bagging indicted your car it's going to be similar to what stop shop has but it's a separate thing and it's going to be on your Smartphone to be on your Smartphone is to stop the shop has a device they use and party people use of these to have to go through the cashier sure. He sought that goal and India to stop the cashier and then they say they check your device. In the used to give them your credit card in the and you need still three minute process move it to use to stop the job device during this is going to be one. With the using an android with the using media as an iPhone. You're gonna go the walked into one of these are free stores and 4301. Of them now there could be thousand in three years. So here's my other question there are a lot of consumers. Today that will marketable Tuesday it's ungodly expensive you know that's what it. Killing a stock of the last few years how does Amazon can think of what company has better pricing power than Amazon. Yeah I was gonna say I didn't go to all the local produce producers are gonna go to all the local seafood producers say hey we are going to W we're gonna be your biggest customer. Yeah I think you're gonna see a whole fruits for sure prices dipped a little bit in Trenton this transition process that staff when gonna come down and attract. You know our Jenner the millennial generation I think a little bit more and any anybody really who does like the lower prices we'll think about how long does it take you to check out. Number first thing about that too long lately you go to the grocery store Michael you've got your twins and they cart with yet. In their ball and how long's it take you get through it and it it takes a while how well five minutes ten minutes. That's that's been on the day if it's Saturday in the morning. Taken check out fifteen minutes right it's this has gone it's busy that's not only is that gone talker all that space is golf. That all of us all the think about. With what percentage of the force base of the more space and grocery stores are registered to cashiers yet. Yet significant 10% five I don't know the answer your I can tell you all of that space is immediately going to be transformed into retail space there to be of the self stuff and with that space. I still don't even if you talk about Amazon's pricing power if all they offer is Whole Foods Market organic products and it's still going to be a lot more expensive than walking into a market basket or a local store even with that pricing power. Now. Well would be very curious to see what their business model is I think he's the delivery is. Very attractive and me for young working for it was just it's not society today. Isn't this society which I grew up in which is one where my mom stable night and and she would go to the grocery store when we are at school and we come home and being nice prepared dinner. You know we all four of us would be together is my dad would get held a quarter six and Rita and we dinner. That doesn't work that way anymore it everybody's work and both spouses are working. The the idea. That you can have everything delivered to your house look at the attractive look at how many people were attracted to the whole bleak for idea sir. Now did wore bright blue apron I think we'll end up being failure. But it was. People tried it it's the right idea yet just not properly executed I don't like the the difficult communities get behind in your meals and in the in this stuff happens in life the Amazon model. Yeah I tell you they're combining bricks and clicks here. And I'm very impressed I have to tell you in terms of acquisitions. I think it's impressive I'm not the only one impressed and I'm looking at Kroger stock now. Kroger stock is trading at 21 dollars a share them 13% will. Wal-Mart stock is trading down five dollars shares down 6% take a look at target take a look at anybody in the globe for this answering. Costco this the list goes on if you're the grocery business right now that are concerned you're your save yourself would like that magic if your company that went public in the line. Last year to your planning an IP based on a free delivery. Morris with the G-8 is this comes on and a tip is just put your left let's just put you at a business yup I need it that's. The the retailing landscape. As to whether or not this is a good thing for society and not gonna make that judgment. But I will tell you. From the standpoint of the busy in. This is going to gain traction in her because what percent U three guys would percentage of your online shopping news and I stuff on line while a senator just on line journal and an 80%. Might yet be deathly north of seventy. But virtually all there. Amazon has become the market. It is on has become a shopping mall right now is a difference there person T the sandals and go to TV dot com. Right with Amazon. Amazon has become the market that is where you go to buy stuff. And now that there in the grocery business I think you have to really question. Imagine you're the CEO of market past. Mean how how does market SP compete with these. Yeah it they don't Obama. It's definitely going to be a revolutionary. Impact on the grocery industry Stop & Shop shots I think about our big grocers in the year I am less convincing you more by this has been arrived but the business while they are trying to do right now has been around hasn't gotten much traction and I don't know why it's failed that you look at pea pod. You look at jet dot com and you look at Amazon Amazon had food delivery service now with the same day but people out once and and it has hasn't it I used it was not good and hasn't gained traction what was it service. You they keep coming up if you use the people answer us. It was a good that the pro Duce would come to me like Stop & Shop frankly is and is not negative it's more sad thing is this has looked at these dopey parts of the world and like I can do that better. I know it's an inning I hired one of the best roasters on the basis Walter wrought by these guys are pretty and a guy. Time will tell time looks well speaking of time we're gonna be joined by air pianist from the fiscal tiger talk about Illinois. What direction is literally handed. I think you're headed towards bankruptcy but I they're not allowed to go back so what do they do your state you're not allowed to go bankrupt in the towards Puerto Rico yes. That's our next topic from our insurer match dot com studios. Armstrong. So and bringing you the best in business and financial news every day this is the financial exchange radio network. If you Google asset protection -- you'll get more than six million results how're you supposed to make -- -- all that information hi this is very Armstrong and the answer is you shouldn't what you need to do is call Cushing and all of the experts and elder law -- Britain a brand new guide to popular misconceptions about Medicaid irrevocable trusts this guide details thirty of the most common misconceptions about using irrevocable trust to protect your assets get your free guide by calling 8668485699. Big you have to ask permission from your kids to use your own money not a chance think you're gonna have to pay higher taxes if you wanna make your assets unavailable for nursing home costs absolutely not there are a lot of so called experts out there but take my word for and get some information from a law firm that has been helping families just like yours for nearly thirty years call for your free guide today 8668485699. That's 8668485699. You can also download it right now on our website legal exchange showed dot com that's legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets. Our friends at 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 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 Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress than money with just one phone call and one relationship. Called today paid for four of 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 banking were talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to a young popular. 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 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 in extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half do you pay more than the asking price and a yeah it is quite common right now in and in some cases are actually how effective to research other towns rooted in. Considered first because. You know it's very pad 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 Tulsa but this leaders thirty yes who we are really excited about this product we just launched it is called leader thirty. And essentially what it is is that fixed rate loan from. Where if you sign up to pay your mortgage automatically electronically and everybody does for the first year. You get to lower your interest 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 but you still have the security of a fixed rate mortgage. When I bought. A home. And when I've refinance my properties have always used leader bank near terrific bank you can call them people free at 8776917. B 900. 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 two securities America ain't member finreg SIPC and advisory services arbiters securities America advisors think carry ons from representative Armstrong advisory group in the securities America companies are unaffiliated. Stay on top of breaking financial news by becoming a member club Harry's brigades a month on the financial exchange dot com and sign up today. This segment of the financial exchanges brought to you by leader bank if you're looking to diversify your portfolio precious metals Horry Smart investment. Gold and silver bullion coins are now available at all leader bank locations. Call 8776917. B 900 or log on to leader bank dot com. For more information we're joined by. Eric PN and I hope I'm pronouncing that programme piano they both enough all right thank you from the fiscal times to talk about Illinois. Erik have they dipped into junk bond status is Illinois officially jumped bond. No but they're getting dangerously close. You know last week the of the states suffered another downgrade its credit rating them. By standard and poor. I think they don't like bbb. Which. Is just one notch above. Junk bond Oregon detestable grade. Bombs and this is this was the 2020. Or 21 time. State has been downgraded. By credit agencies since 2009. Now Eric what happens when they go to borrow money and you compare them to. You know fiscally responsible state like South Dakota. Or. Even like every state like Massachusetts. How much more does Illinois. Have to pay their bond holders to get them to buy the bonds in Massachusetts would have to pay. And will do. One. One example after Lou the latest downgrade. The State's ten year bond yields. Last week. Soared to about five point 2%. Or that's that's like three point six percentage points more. Then operated municipal. Yet. That you just mentioned though that means that overtime this statement is much higher interest rates to market their. Bonds you know declining value and high risk when you look at. Situation in. Illinois for example where you know we're dealing with tens of billions of dollars of general obligation bond. A percentage point to as hunters millions of dollars to the states. Costs for. The greatest set. Why have they done anything about that slickly done they've got a conservative governor but they've done nothing to balance a budget nothing. Well I you know I think he. It's is you have to look back good decades really to realize that. Illinois. A great state and in many respects and and you know. Omaha Lincoln and then look. Barack Obama has been in the you know the poster child for dysfunction goal a state fiscal policy for decades now and it's it has to do with a number of factors a lot of it is just sort of political. A conflict. You know going back to. The former governor Pat Quinn a Democrat who. Tried to good handle. The fiscal crisis but. It blew open as base and as a result he lost to Bruce rounder in this. Conservative Republican this is that you. Mentioned yes who has now been. Locked in in conflict with the democratic control. General assembly the last couple of years and mute the prop it I think it's worth pointing out what some of the problems are ya. Public pensions let's start there. Well out of Illinois. Has operated without an operating budget for two years and they're heading into. A a third year now. It's conducting a lot of this business Centre court orders to stop gap. Stop gap makers. They haven't paid has failed to get fourteen billion dollars of unpaid bills. Yeah out they've got a seven billion dollar deficit as you say fourteen. Point seven billion. In. Back Claude. Unpaid bills which could go was actually poured billions in the coming months. And this magazine. Unfunded pension problem that has plagued. The state forever you know and it is in many ways is the very heart of the of the problem. OK so let's that you it's like a game of musical chairs right the music's gonna stop. You're not allowed to default on your pension obligations right you have to pay those those are in your constitution that you must pay your retired teachers cops and firefighters. And you're not allowed to declare bankruptcy so what do you do for a leg right I published. I it and it's not just here yet and in Puerto Rico you've got in the Virgin Islands you've got other states and communities that are in similar state. With how how does this it doesn't end well. Well it doesn't it's not pretty desperate and well and it takes enormous political will and consensus. Two. Undertaker. A sensible compromise on on the whole host of issues on unspent able Apple's. On taxes. On the entitlements like Medicaid. On pension reforms as we've mentioned. But all of this takes political courage and consensus and from what I can tell from a distance there isn't much of that in in Springfield Illinois. So what do you do when he can't meet your bon pain. Right here is let's see after right up on Chad and interest check on your bonds for billion dollars in you don't have the money. Well. That's that's a real problem and I mean I think part of what. You know state with a prior ties them in other words. Some creditors are much more important than others have to get their interest payments of principal others are gonna have to wait. Others are gonna get stiff so it's it's not pretty but once you do when you go down that path. That your credit rating. Continues to decline. It's harder and harder to borrow money without paying exorbitant interest rates and what they. One of the reasons they got into trouble in the Illinois is that they were like secretly borrowing money in using the proceeds to pay the the pay off their pensioners. Rather than having. The a sense of all. Amounts said the way to set aside to cover pension. Benefits let me just that the pension thing is so important when we just. You know you can exaggerate these lines and all this. Right now others like 150000. Public employees and retirees who are covered by Illinois State pension. It's been grossly under funded. For years Illinois ranks at the very bottom of the country epic along with Kentucky. With unfunded pension. Rate of third I think. Only 37%. Of their obligation is actually covered by investors. Connecticut's trying to catch them. Connecticut is making a best effort. Catch up always ever but a group and the the unfunded pension liabilities stood at nearly 130 billion dollars last year now. Forty years ago it was 2.5 billion. Obviously you know inflation in a lot of years have gone by but it gives you. A sense of the magnitude. The enormity of this pension liability which is really at the heart of the whole oh. Eric you've got a great job on the article on make sure it's posted thank you very much for your time and sharing what you know about Illinois much promote my pleasure I enjoyed. Eric PM and from the fiscal times and you know this is going to be story folks he gets repeated the ones that are at the forefront right now our Illinois at some point people are SM a bind those bonds anymore. Well that's when the music stuff like such a self fulfilling prophecy to. You get started business in Illinois right now yeah now why would you why would you move to Illinois lot of people moving out of Illinois as we speak. All right we'll be back what trivia for you when we return from our insurer match dot com studio. Making your Smartphone even smarter. Don't know mobile lab by surgeons financial exchange killed in nineteen Jordan who. Who who played stores. This is the financial extreme radio network. This is a special announcement for all landlords chasing down lead rent payments and making trips to the bank to deposit checks take a hassle out of round date with zero and leader banks all mine rent collection tool. 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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. Com security suffered through securities America incorporated member Finneran 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 same 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 fibs about having to give away all of your assets or control over your trust or 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 and 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 had 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 that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing calling 8776917. B 900 that's 8776917900. 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Their license for all types of insurance and can save you time stressed the money with just one phone call and one relationship. Called today 844 of 99 match or go online and ensure a match dot com. If you're real estate or property management company you need -- 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 -- 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 8776917. To 900 or email BBO at liter bag dot com for more information member FDIC equal housing lender. Time now for Wall Street watch a look at the market's performance so far today until Berrian jug right here on the financial exchange radio network. Well the market is open and it's in negative territory unless you happen to own shares of Amazon or whole foods. Dow off 44 points NASDAQ down 27 the F and and you know what Tucker Selma and try to explain Tia how Amazon bought whole foods and it didn't cost them a penny sorry it didn't cost a dime. Their stock if you look at Amazon's stock right now folks the stock is up thirty dollars this year. It is a 475. Billion dollar company. So the stock has gone up by more war the stock in Amazon which is unusual way. When the acquiring company the stock off the school will go down. But Wall Street is so bullish on this acquisition. It Amazon's stock is up 3% to thirty dollars a share which more than covers Michael the cost of the purchase of coal they got it for nothing. It's a believable to sell some shares if that deal in cash and Amazon's close this thing. I'm not baker paid no money is that this does not happen very effort where the acquiring company. Gets a bump and stock price on news like this is pretty rare but it's such a story. This what happens there's just it can't do and many of you may agree with my assessment I'm bullish on the deal like the deal. And and if you disagree I if I understand that but. I will tell you Wall Street agrees with me because the stocks up thirty bucks a share. 42 years ago this month the movie jaws was released will be asking trivia questions about this legendary Steven Spielberg bill. What is the name of the fictional beach town. That served as the setting for the movie jaws you know the answer to that question text us first. Protects number 68680. First listener with the correct answer will win two tickets to the US senior open which is taking place at the Salem country club in Peabody Massachusetts. June 26 through July 2 again. What is the name of the fictional beach town that served as the setting for the movie jaws text number in the studio here. Is 68680. Big oil firms are exploring a new frontier better okra. Authorities on oil yes our poll question for today old thank you missed a whole foods are related. Will you be more likely to shop at whole foods now that is owned by Amazon that's the question we're asking today you can cash your vote yes or no financial exchange showed dot com so far 30%. Are saying yes that they would semi you're saying no I voted yes all I'm heading yes on this happy. Right now I would tell you Amazon gets the vast majority of my online shopping. Now I'm ahead yes because I'm a prime member I know they're gonna do a lot of benefits for those prime numbers that I know. Yeah yeah they'll be especially early on Tucker you're gonna have inducements to get you to come over this and know that they're going to get it all right. Very oil firms exploring new French fields in shale if I'm shocked at how little they got the price down to an interview with the Gannett the ground for. Yeah I mean so this is talking about the fact that big oil companies are trying to get in to be sure shale production they haven't really stepped in yet it's mainly been smaller players and they haven't those smaller players really have not made any money. Past two years. The thirty biggest independent shale producers have lost a total of 130 billion dollars more than 120 companies have gone bankrupt. You know that all has to do with the price of oil and the cost of extraction so now way you know it's taken awhile but Chevron. Is. Pretty much the biggest player in terms of what they own where they own it. They're gonna start getting in there and Beth thought processes that would their scale and efficiencies and they would do this profitably twenty bucks a barrel. Descending get another ground for I'll be impressed me it is not. Easy. For DS know what the first use of oil was being you know when it was used for Mel. Like. Now Adam excellence was used very back in the eighteen hundreds that's in the oil boom began in in the 1850s. And when it began it was primarily for use to play your house is yours electricity and so bury your big concern over the years third of the last few months has been that. Exploration costs yes I've been Dwyane Wade and exploration budgets expression budgets have been way way down all the you know all these big oil producers are not spending might look for oil. Do they need to. I think they do I think eventually this catches up with them. With they're doing now is they're going back and beard they're finding fields that are less expensive. But just common sense would tell you if you take a trillion dollars and 300000 men. Out of the exploration business and that's what's occurred that the global number it's it's a trillion dollars. And a 300000 men out of exploration. At some point you're gonna have trouble finding additional oil that's my opinion and I think now. Well when is it occurs in three years from now is it five years I don't know all the time period. But at some point the you're the you're gonna pay the piper. To me it seems that perhaps the technology's getting good enough that that's not necessary. That you don't need to spend that sort of might be it's a good measure defined and be easier to extract these days with the new technology is I like documents like and I hope you're right because the leaking keep two dollar gas or did gas down to about fifty gallon home heating load down to a dollar a gallon mean that. That's a benefit that lowers it that's like a tax cut at the American public for the global. Globally it helps. They wanna remind you on behalf of Cushing and dole. During the month of June they have a guide that they're giving away as a relates to irrevocable trusts one of the misconceptions as. That once you create an irrevocable trust you cannot change the beneficiaries will that's incorrect. And if you wanna learn more about your vocal trust called Cushing handle little free at 8668485699. If you don't wanna call that you just wanna download the guide go to the website legal exchange showed dot com is the way it's that you would go to or you can call and told free. 8668485699. Bank of America you know I I will tell you this reminds me of the mid 1990s. We talked about couple companies announcing layoffs. And normally you would say to yourself well that's bad news people are being laid off. And bad news if you're one of the people at Bank of America getting laid off. But it's generally good news because it shows that corporations are responding. To weigh the economy is functioning. And laying people BankAmerica. I suspect laying off a lot of workers we don't know these. Yet they haven't disclosed how many there actually be laying off that's mainly in operations and technology which. My experience America's customers surge is already pretty rough. Ford doing them fairly up but ops people. I think what a lot of these older banks are dealing with is they've got these really expensive. Really old technology systems. And they just they can't fix them very easily it's costing him a ton of money so where'd they go where is glowing fruit its employees. Yeah they can't figure out how to adapt it's mentioned that they've got something like 130 legacy systems that they're trying to modernize and bring into the 21 century and it's just costing them. Hundreds of millions of dollars with a problem they have acquired so many banks he acquired Merrill if it's the news the acquired countrywide bank. In those of you were Bank of America customers in the newly military you remember fleet ankle but before that you member Bank of Boston how about being bad you know these are banks that were veil around back in 1990 and all had grown systems yet they and the have to continue this legacy systems. Nike also. Slashing jobs yeah look of a different story if I mean the story of Nike is the overall retail story you've got. He's got sports authority closing you've got all these big sports retailers just closing up shop and not as many people going into malls to buy. Issues anymore survey except trade it is the last hour traffic and there's less traffic to bide your shoes. And you employs some 70000 people globally then you're gonna lay off the people that work in those malls. You wanna know if Janet Yellen is still going to be the Fed chair in a year we the guest coming up his name's Larry Kudlow and unique position. To be of the forecast as to whether or not she'll be in that job twelve months from now I want to know the answer to that I got a lot more questions for Larry. That's next from our insurer match dot com studio. The financial exchanges alive 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 many of my clients are retired or are planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offer guaranteed income for life but there are risks associated with every purchase some annuities have high fees. While others take control of your money. If you're considering buying an annuity call me right now and get my free guide the truth about annuities learn about the pros and cons and educate yourself about these products before you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Security suffered through 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 -- -- agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match at 84499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. There relations for all types of insurance and continued time stress than money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. There are strong here and I'm joined by Jake too who's a vice president and leader banking were talking about the housing market the housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. Would 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 homebuyers what we are telling them are a couple things one. Be patient. Yes you know we we see a lot of first time homebuyers who were making five and fifteen offers two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half the U. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns and rooted in. Considered first because. The answer can't afford their dream home exactly. I'm getting were telling first time homebuyers to really be aware of all the mortgage products that are out there that are relevant to that. Tulsa but this leaders thirty yes so we're really excited about this product we just launched it is called leader thirty. And essentially what it is is that fixed rate loan where if you sign up to pay your mortgage automatically electronically that everybody does for that 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 that 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 told free. At 8776917900. 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 of you'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show Doug come. Every Friday at this time. We're joined by Larry Kudlow who's a senior contributor to CNBC. Larry welcome to the show thanks for coming on. It would debt what are your thoughts on Janet Yellen a year from now if she still sit in the Fed chair seat. And I probably. Don't have much of an idea I kind of doubt it. Glad that doctors can monitor. And kindly not attack away I think that's good news. I'll make presidents are all very much by. And there usual. Situation in the rule about it. That's gonna do whatever they do anyway. Go big or which caught almost happened during the campaign. Be over that's good and safe at night think about it you know I have roller browser. I that you got to put it on people. Care by chair. Still waiting really sort of three. Candidates aren't wearing really close. By car is going to be it. I forget who the other person is. All a little bit more hawkish Asia and Taylor rule which is. Basically but maybe it is all part that. I stick out. I heard earlier this week that Gary Coleman was the guy kind of in charge charge of that process of making a decision. But then I said these men minutia and would wanna have a hand in that as well. If I'm sure I'm sure well. Colin is maybe interviewing people that. That's human relations has to mean. The president may also. I act kind of tweak it and maybe this is able look at on the radio that. I don't really know what mr. Kohn. Not a varied opinions are not even sure I thought it. We've got in a different Pope aptly a different approaches you could. Rada Phillips Kurt labor market approach which is what Jack yeah audit running. You got it John Taylor. Monetary rule approach which. As if you moving parts and fabulous. It's private backward looking indicator do you have. The old magic Johnson and Wayne Angel by caliber approach which I've always liked that's called a market price rule. Where markets are forward looking. Rather than backward. That would mean for example. I take a look at the kids break even. In the bond market right there it spread speech line. Ten year treasury ten year treasury. Bills. Which are pretty good right now and how much spread their now. No there's not pan down. The other part is looking at commodities. I've always been an advocate watching commodity basket yeah including gold and energy. So anyway all that stuff is point Rourke and yeah that's the thing. What that would given the environment we're in now. What kind of fed policy would you like to see if you were sitting in that chair and by the way you've been mentioned as a candidate for that job. If you are sitting in that chair how. What would you do I understand you like it appreciate these different theories but given the environment we're in today which one with Larry Kudlow embrace. Yeah I don't by the way the one that I absolutely do not like is that they'll ask her can I do not believe this trade. I do not believe there's a tradeoff between better labor market. And play in fact I don't think equation. Is labor market problems as a monetary problem that's why I like using open market. Indicators such as commodities. And put it. And treasury curse so they right now I do not. I think there's going to be very cautious. I guess this signal from this week is gonna come back later here with a third. Great idea. And the very mild way I guess in the fourth quarter ago to start right off their balance sheet there's nothing physically wrong with that but I just wanna make or. That and I'd discipline the the traditional inflation indicators. Are going down. What is the I I agree day especially based on the housing data we got this morning housing represents 18%. Of GDP and the numbers are weak. What are you modeling. For GDP growth in 27 team. Well I don't think that changed much and I still think around 2%. Now I agree I I might model is one and a half to one and three quarters right now. Well. I. Just look here since. That put you on the spot he. What is that one that I used in the resources to go area. Well they the Atlantis said then there's doubt that 3.2. But that's just for the second. Quarter right. So well the first quarter was about one right so you'd still be done at 2%. Pat that AP Euro years about 2%. So I've basically do not expect that K okay seniors in with that tool in business investment. Until we get via. That tax cut through the business tax cut through and those are till next year right. Well I don't know that's. Critical. Need more fire fighting for them you know Ricardo trees and pieces we've been. Talking to the west going quite a bit about this and you stated downside bill which so that growth bag and that would be. Lower the corporate rate is this thing full expensing of new. New equipment to eat right out and repatriate overseas cash at one time. 10% rate and that you go to with territorial system after that city and Arabic text right. And we argue that that could be grafted on. Is the Health Care Reform reconciliation. Package that you want those in the that it got. I think pulpit to it it's legal it's technically correct but I don't want away BI think that they don't get it done this summer. Date they shouldn't that be able to take this summer vacation. And B I did not count the days. In the fourth quarter to get ready for this stuff. I agree and are exterior look at their reelection so is he. That's the worry about reelection. As I am. How quickly you get that road they want it large package. Including individual reforms. By a lower rate. And I'm happy with that but I just don't think you can get all that for quite. I think you did get that three's he'd pieces. Of the business tax cut. Bit. This July or August and break it died August that you want so my point has used some growth target that. Has not happened grossed two or has not had. And inflation is. Left and at any kind of problem but I don't think it was a problem. In the first place so you know. No that's cut and I've hit it. That it yeah. You know golf vacation buried like a little vacation. Nightmare. Thank you for your time as always we appreciate it. Larry Kudlow senior contributor to CNBC. And outplay let me tell you what's making me bearish on the economy for the remaining seven months six months of this year. The housing numbers we got this morning Michael her dad. Housing starts and building permits were both bad misses. And housing have mentioned it earlier housing is 18%. Of GDP a pounding on the table. Yeah hasn't numbers are bad and if the numbers are right if the estimates are right that the reason that housing numbers are bad is because we have no waivers to do the work. There's no quick fix that. Read by there's no room where you can do it they're not in terms not to open the borders and suddenly when a bunch of you know qualified workers come and work in the housing sector that's not. That's not gonna happen you're not gonna train people up. In six months I think you're in a one and a half percent to 2% say Larry thinks it's too I think it's one and a half to one and three quarter percent GDP market. That is unless you get some less usually tax cuts he had the tax cuts she might go to two and a half maybe two maybe 3% but if you go to three. It's going to be for fairly short period time. Markets are all men and the Dow is down 43 points NASDAQ down 35. S and he's down nine crude oil is trading at 4462. Thanks for tuning in to this hour of the financial exchange so forget to vote on our whole. Benito exchange showed dot com from our insurer match not constitute. 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 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 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 doc. 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 music faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leader bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting process and teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure -- -- agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars -- that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered we'll also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry -- 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 of them. With your legal exchange quick tip of the day Todd one of the misconceptions. That I hear regarding these Medicaid your vocal trust. Is that he had to pay a higher rate of taxation. On assets that are held at sea of a brokerage account and it has dividends and income where 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 it's false but again. The misconceptions. Arise simply because there are many kinds of your vocal trots 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 of somebody if they have one of these herbal will crush 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 asked him is that he grant toward trust ours. Our current tort trusts okay 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. Income in this trust is taxed to you. As if you were the owner for income tax but and 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 bloodline 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 toll free 8668485699866848569. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 down silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back a step ahead 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 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 in gold 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 had legal exchange showed dot com legal exchange showed dot com that website again it is illegal exchange showed dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval meter back a step ahead. 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 stake clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has -- 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 8776917900. Or email BBO at liter bag dot com for more information member FDIC equal housing lender. This is the financial exchange with Barry Armstrong and sharks are. Tour exclusive look at business and financial news affecting your day your city your own. World stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. Headline read Amazon is buying whole foods for thirteen point seven billion dollars a bad back is not the entire story. Hi everybody Berrian might with you here on Friday. Amazon has been handed it yet it did pay a dime for whole foods because their stock Amazon's stock when he explains to you. Amazon stock is up 29 dollars. They paid cash for the company so their market capitalization. Has gone up by more than thirteen point seven billion dollars in cash. That they paid to buy whole foods whole foods stockholders are going to be rewarded with. 42 dollars per share was a treat him last thing about thirty wondered he Rhea now closed at 33. So again congratulations to those of you who'll whole foods if you bought it right in need and bought it for sixties were in control. But I Amazon. Eighties taking over the grocery business next. In the Birdie Putt most electronics retailers out of business that its sporting goods retailers out of business support Macy's ad business JC Penney's going out of business Sears has gone out of business. Next your local grocery store Kroger Wal-Mart. Costco you name it grocery store they're tree especially the public straight Kroger shares my opponent percent. Yeah we've. Got a few questions about this instrument tax. One if at what point if Andy is in this on become considered an already. Already the problem is that the laws on the books for digital companies like this I've been studying the yeah the U did you study the standard will monopoly back in the it's a very it's a similar role that that Amazon is doing here. The different and in what happened early with this standard oil was. You know Teddy Roosevelt finally said enough is enough and put him a block somebody will say hey. In is on news is violating antitrust laws and they have to change the laws to laugh it's I mean. What specific industry. Are they operating Ricans and the monopoly in the freezers industry. They don't have a monopoly in the retail sales industry don't have a monopoly in the data storage industry privacy do everything so much better right there. Rate and lower prices and efficiency in the game. If you're if you're shopping online Amazon has become marketplace I'm guilty of this analysts polled here said. You know when you shop and check on Amazon and go to Jack dot com immediately easy. I do and I shop on Amazon and accidental four dollars would buy it I don't shop and domino effect make sure. I don't. Amazon shares are trading close to a thousand bucks this year it's really and by the late talkers. You know I am a little bit of global equity. Oh is that's yeah I mean I make predicted. Exactly I predicted that I'd sit you on it here you're here partner in crime trucks on I told you months ago. Amazon is gonna buy whole foods and all I heard this morning with crickets and no acknowledgment that I got one of my predictions accurate fortunately. Our listeners Stephen Allan thank you from South Dennis on the Kate. Steven remembers that it says you posted on FaceBook page area they bury Armstrong you were right yes I was predicted this. It is the lifting acquisition Anatolia news music for us to for you don't you'd you'd you'd say anything. Yeah I spent regular believe it. Two trophy here what are you going for a cookie for Obama at their predictions could still happen Johnny men's though it's still in place. Calvin Johnson I heard he was invited to be no he was not invited to capture them positive for the period and a coaching. Calvin Johnson as coach he's still at some coaching liberators. And tried better than any receiver they have definitely passed a right now. He could put up for Agassi may be so they got the back page news come back with the raiders. And I just think this is a fascinating. They it's I would not want to be Shaw's Stop & Shop and if I. Market basket those companies are in deep deep trouble. Period will somebody pointed out earlier in the text line when we talked about this to open the show. What happens to Ehrlich a Pulitzer sump and whatever scrambling to go to the market to get you know. Milk and bread for some reason. You know. If you go to a whole foods and interest. You know you're scrambling to get something from Amazon what else they can deliver at the same day so it's kind of one of those emergency situations. Close tournament big knocks on people. You know UD IE you would certainly if you went to people right now as a fact if you get time charter pull up your pea pod. Thing on on your computer all right and you want them. You know the iPod application put up. And try to place in order what you find is you can't get anything delivered probably if you read the orders of the Sunni she'd be it gets delivered would be morning. And tomorrow night yeah yeah and and probably not to Sunderland. And yeah I've Amazon can perfect the same day delivery for groceries it's going to be. A catastrophic to all the other grocers let me just got 430. New outlets right Amazon now has 430 stores that they can. And you'll see a white Amazon trapped in there in front of every whole foods though in there'll be a guy. That's driving the truck into the the other guy that's loaded up and if one trucks three trucks in three trucks and enough to have ten and we talked last week about on Amazon starring for what the and is on flex I think that's it wasn't that driving cervix forward. Anybody tunnel like Hoover can drive for Amazon delivering packages for you wonder if that's gonna replace the grocery industry all absolutely. Absolutely yeah eighteen point five bucks an hour one on one when you work for that right you make a lot more than two it is cashier growth restore. I mean a lot more valid or Ivan annually de stocking shelves and bury the story very true. And you're driving somebody else's vehicle and I think this team or your vehicle eyes. I yeah Utley make more if you drive the Euro will be right. It's nights emanates a market bounces back market basket business is incredible. It is the market basket and not nowhere near capable of competing. With in this. They will end people will stop what happens. People it's not Jessica stop going to market basket they're gonna stop going to grocery stores just like I've stopped going to drug stores. And it'll take time but it'll eventually get to that point five years. Yeah I think that's fair five I think that's fair the in this thing five years and yours your inference. It's. If it's. Will say you know IE big deal I just IV is the transformative. Deal it's also the biggest acquisition in as a loser may. And barely sipping your starts in big roll ups. India in the other yeah market takes all their other stores are so fragmented. Right Martin they're all regional I mean there's very few national register them and Walmart and Target richer and traditional grocery stores. I think he got to see you know the wegmans. Shaw's Roche Brothers and together Atticus. The only compete with no income but the targets. Ballmer it's been the only way to compete at that scale is spiraling. The problem they're gonna have Michael's technology. And that's actually part of the problem that Amazon's and they Amazon has a very specifically designed warehouse system. With robotics. And they're not going to be able to implement that in the grocery stores but would they do have is a system. In this is people are gonna enjoy this you're not gonna have to go you're gonna turn on the application in your phone. You put your full on your growth for car when you walk into Arabia Amazon growth restore which will be a whole foods store. And as you put your apples in the cart your lettuce in your seafood in your meat in your cereal. As you put that into your cart in a lot of that we'd be registered you'll be going through. That catch your life thing about how much money in the state and I haven't paid catcher that he just. If it's a tech company. What's kind of funny I noticed this on and is a sweater today twenty hours ago they'd tweeted out a two minute long video. Saying groceries had never been easier say it or scan a bar code with all new dash one with the likes those twenty hours ago. Did you find out how long it would take you'd delivery from people on now. I just afterward first half I think I want I want to register for people like for like two minutes in the very busy if it had been. Our rate low eighties let's talk about Mexican exports. Share. Is this a story that it's more about US exports to Mexico. They're down yet be time so it's it's in interest in state has been being done here by a guy yet you're a farmer. Producing chicken or present sole way green scene you're exports to Mexico which is your biggest agriculture trading partner next to about 13% of US agriculture pork exports and toward sixteen. It's weighed down and I think there's two main factors one. The US dollar is way up. A US dollars up considerably so that's come back down there reelection levels yet adds maybe he just over the last five years take a look at. The I think that I think a bigger thing is it's a negotiating tactic. I Mexicans are madness yeah. It matters and they are buying the chicken from Brazil well read but if you're gonna if you're Mexican politician and you know that you're going to be walking into in the negotiation within the next twelve months what are you wanna do you wanna make yourself less reliant on American goods and that's what they're doing they're going to Brazil they're going. Anywhere but the US to go try and buy their food exports because they wanna deal to negotiate with the US and say. Hey we've got this leverage here. Right we have an alternative as to where we're gonna go two to buy that product by the people like sit next day or two weeks. So we're at that time for a night if you put fifty if you ordered now I'll bet you couldn't get it delivered the tour before 5 PM down on people. Next interview that we're going to be conducting is with Thomas bandage from the economist. Really talking about delivery drones memory and is another story about him is you're gonna roll out delivery drones a year burritos we're gonna be delivered I think those Google. I think that is the way I don't understand is on the went on sixty minutes the city policy that. There are here. And those four years ago so where. Are we in terms of using drones for deliveries are actually we are being used on a daily basis we'll tell you all about that as well. When we returned from our insurer match dot com studios. Berrian just get the latest every day beginning at ten only here on the financial exchange radio network. Hi this is very Armstrong many of my clients are retired or are. Planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offer guaranteed income for life but there are risks associated with every purchase some annuities have high fees. While others take control of your money. If you're considering buying an annuity call me right now and get my free guide the truth about annuities learned about the pros and cons and educate yourself about these products beat. For you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website financial exchange showed dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are 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 insurer imagine agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match that's 84499. Match many of our listeners don't know home and one or two cars if that describe zero you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered will also dig out all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers at 84499. Match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance can continue time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com if you Google. Asset protection planning to get more than six million results are you supposed to make sense of all that information. The answer is he shouldn't what do you need to do was called Cushing in Dolan the experts know their luck they've written a brand new guide top misconceptions about Medicaid irrevocable trust this guy details thirty of the most common misconceptions about using irrevocable trusts to protect your assets get your free guide by calling 8668485699. Think you have to ask permission from your kids to use your own money not a chance that you're going to have to pay higher taxes if you won a major assets and available for nursing home costs absolutely not. There are a lot of so called experts out there but take my word for it and get some information from a lot from that has been helping families like cures for nearly thirty years call for your free guide today at 8668485699. That's 8668485699. You can also download it right now on our website had legal exchange showed dot com that's legal exchange showed 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 -- -- 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 -- -- as their banking partner or call 8776917900. Or email BB EO at liter bag dot com for more information member FDIC equal housing lender. It's our daily poll question had financial exchange showed Doug John. Vote your conscience there are just vote go to financial exchange O dot com and cast away. Many of you'll remember when Jeff base those went on sixty minutes and touted. The fact that he was going to be delivering. Products through drones what hasn't happened in four years. In May be awhile before it does we're joined now by Tom's bandage from The Economist Magazine hi Tom Murray you. I'm very well good so how far away is rapid droll delivery service and I'm talking about. I'm working on a project and industrial project or project are on the house and I need. A ranch and I can go on order and it's delivered to my house by drone in half an hour. I think that's probably built like he has been let back out there well placed it what you can be good delivery now. And put Koppel that the company called this line that is delivering blog in western Africa. But the big difference there that boy has a relatively under populated areas in it at all and it applying it BP. I've got the battery that was special page where you can make. The justification that this is. I can delivery. I think there's another situation that might happen a would you that you bail deal went but it may be that the pipeline that legal wheels but it. They're about a company that is developing small. Global let go along the statement that didn't stop. But the idea that it got to be lying if you like that you. As the key that kind of plot that you guarded and because don't know everybody up adult. I want back yard play that can happen right I think that they'll Quidel whale. There that quite difficult technical or safety content that needs to be had to come. Are they already using it though on ships that are harbored out at sea they might be. Half a mile out in the harbor and they're using drones to deliver food and equipment to build ships. I know so let that bring. Take it very happy they let me I let it take his last. That BHL which is a European majestic. Expand the delivering mail experimentally. It out. In Germany and it's also been that big pocket is that get at Madison took off shore island. Oh the north as the Japanese but once again you have a situation where the drones are flying vehicles special election to be Istanbul flying as a people. And he had it and you know look at it that you don't write that. If not blind to guide that mobile springboard that feeling and that we're gonna happen on the condition come true well we apostolic for the to that regard. Bend the rules. They found that reminded that allow they require all credit to be under the control the little right that would direct line like the non. That's right they can't let that the people of the cup before and during the day. That is they rules. These simple be played the look at how long sales but I definitely add that it Brady can't happen if the regulated with a big it but. And we say regulators you're talking about the government actually getting something accomplished. Well the FAA actually in America is practically little problem that regulation but they finally picking the these little last year that would really let the door at about twelve pieces of drag that they. Vomit we respect people aren't in a construction workers are able used right. Great event that you're in the very I think things have been and one of the things I say in my report that this week is your economy is that you know if they lose. It burns that Iraq city gaining traction but the one at one is about admit it the media is delivery it agreed to acquire as. Hole let the typical problem for people before but a white. What are the most obvious applications. For drone deliveries. Well on the heat it eat these little things but I haven't let that be something like. I think he led to the pocket is that the that is the way it is less than that who'll fight proud and and that the French Canadian carrier out of court for Blake. It now. It talk that we talking about like that yet maybe a red or for a book although we're why would he get. Despite e-book. Either baby. The ingredients. A recipe to cook cooking that. You eat that apple quickly maybe a half nothing that you'll building. That you could imagine the east so that they possible it is if you talk to the real believe it is very deliberate I expect that spurred a lot. Good work act I people at the board pretty and he let it amazing drop Michael had a really felt that he imagined the future what you had to cut back it out. But can bring you anything at a quick appeal again. I bet you know if you if you bucket that he regretted that it changes the way you live look at it go out for a walk and go up like have a a picnic and say. We we have apparently been pavlik is that you go out yet like hit a pretty good what good would bring to the big news that you fail hotly. You know I would apple like I'm powerful and important like that that that. We've got to that kind of market world what you could dump the big advocate that back. Yeah I think that's quite a lot whale but it is that it's the vision that. He had big people opt in black political. There are pretty expensive. Voice whit what happens if somebody decides to steal a drone has its you know landing in your driveway. Or get drained quite expect that etiquette could be Gail I want now is sort of a thousand dollars. I'm the one but let's talk about is that the delivery of collectible big island and chunky and how it felt like further back up I suspect he is well that looks like it. It may be a pick up go back. All on the product safety and got it depends how how it works I let the people who built the we you learn that go along the sidewalk into the big spotlight and I label all people took on the Steelers. I bet that the Olympic quite happy that the continued I have. I mean at what they people. In the tracking device he built into man. What rusty but don't expect it he knew what you started I mean because it's got GPS in it it so I think that link. The that it can. And they stick it in the pocket of the island rival and a look at it and what you law I got that out with a big drive late in the city up in the ideally that they they write it. Nation and they said you're about to get well by city but yet I'm not ready to receive the package they lowered battle we told them that they capacity. Land for the people that got will be in danger. But yet could someone else Russian you'll you'll pot yeah all the collapse the job. It and that is the pocket and pick up that they they technique that the other thing that people write about cool that the guy you called. But he couldn't be brought. Very high value very lightweight. Let but it seems that you can't quite quickly exit but even got the killer out there but there's a retard. I think the other thing that we could expect happening is that if people will be you'd think I'd heard the people that read there already people like now it's in pretty good. You could write it's we can expect a typical U that the technology the full electric company you can get. No doubt no doubt Tom thank you very much for your time we appreciate it. It pretty easy to get drugs over a wall and druze and Tom standings the economists talking to us about droll delivery and this fall. If you're in happen to be on a college campus pretty good chance you'll see Domino's delivery robot on that campus. Where they'll be a robot drive and a mystery heated row that the deal an oven with wheels. And that of them will pull up in front of the dormitory the kid will come down from the dorm room you push it his code. The other will open in his pizza will be informed that's already being the it's. In test mode in New Zealand right now it'll be I know it's coming to Boston in the ball in via college campuses in September. Eat right write it down it's do that just seeker distance with it because. By a lot of people probably in the same boat they wouldn't come back we're talking about why more states are killing death taxes. That more from our insurer match dot com studios. You've got a barrier in strong financial exchange. Shall look financial exchange radio network. 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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 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 doc. This guy details thirtieth the most common misconceptions about estate planning and you can get yours today by calling 8668485699. That's 8668485699. 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That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subjective credit approval leader bank a step ahead. Like us on FaceBook and follow us on Twitter that's TSE show. Breaking business news is always first right here on the financial exchange radio network. 42 years ago this month the movie jaws was released were asking trivia questions today about this legendary. Steven Spielberg film. What is the name of the actor who played a marine biologist named Matt Cooper. In the movie jaws are tech's number is 68680. First listener with the correct answer we'll win two tickets to the US senior open which is taking place at the Salem country club. What is the name. Of the actor who played in marine biologist named Matt Hooper in the movie jaws again the numbers sixty sixes hope we're drops the ball. Chief. Who we we did Saturday correct answer to our trivia question first are the shows came from Newbury and archery contest factors says brought you by the US senior open taken place at the Salem country club in Peabody. June 26 to July 2 currency over 150 the world's best fifty golfers including Tom Watson Nick Faldo and Fred Couples. Kids under seventeen get in free with ticketed adult for tickets and more information that 2017 US senior open dot com and that's sept 2017. US senior open dot com. In the last three years nine states have eliminated or lowered their state taxes. Mostly by raising exemptions in the states and England. Certainly not Massachusetts I can tell you that yes you know there. And the real reason for all of this so there's a federal estate surged again category mysteries federal estate tax to about five point 43 million. I'm in a lot of states have adopted their own individual state taxes to be more harsh than that close to the state revenue. And frankly what they're all finding is that you know what. Millionaires they can move around the robot. I'd in going to be hit with me you know 100000 dollars or 300000 dollar tax is just by dying in the state Massachusetts. Up to New Hampshire Florida. Well that's what happened is the in Massachusetts the estate tax brought in 400 million dollars last year. And they hope to raise the exemption to half of the federal level and perhaps exclude the value of residents as well. Here's what they're starting to figure out and it is the only reason this is becoming a discussion at all is because Charlie bakers in office and a lot of his buddies have told hey. Either get rid of the estate tax around and file my personal income tax return in Florida and if they do. They like I can tell you how many clients we have that I got a house on the tape and they spent five months up on the tape but they got a place in Florida. Right and that's what they filed a federal income tax. That's readers a state plan is is conducted in the Iraq paying any. The state taxes to Massachusetts are also not paying in state income tax and the state for Smart and they're not. That if the states are Smart Connecticut for instance has 12% death tax. Mean death tax 12% Massachusetts 16%. Death tax Rhode Island 60%. Death tax and Vermont 60%. Death tax. When you do that when you have a death tax of those magnitudes twelve to 60%. What you're saying is. You're telling people like me who's an advisor to rich people would I do I think we should I tax return in Florida issued by tax turn Puerto Rico you should buy your tax for. In New Hampshire or if it goes by house rich people can afford to do that they want to anyway. Yeah have a wanna spend the winner in Florida anyway all you're doing is incentive when you have an estate tax like this. Look out of state to act very quality that we new have a death tax like this. Rich people just say one pain that's ridiculous I mean let's just buy it did it's they'd get a Condo for free in Florida. Just by not paying the estate tax. Hey if it through media and remarkable to me that are elected officials are quite so stupid if. Roland. Is right around the federal and works because most people are gonna move to Adam. Ireland so we can't just can't take your money out anyway and it's it's the federal one there's no avoiding it though when you have a state estate tax it is really easy easy move from Massachusetts New Hampshire and Florida where you need to. To avoid it. I will not die with my sting in Massachusetts or any New England state I will be filing my death tax or mice Ayers will be filing my best tax. And will be in Massachusetts but. Who beat the world's hey grab a pencil and paper next Tuesday June 2 fastest few days away. June 20 excuse me June 20. At 5 PM I'm gonna be at the skyline. In one place it's right on the waterfront in Providence and you're invited Rick had dinner at skyline. It's next Tuesday at 5 o'clock we'll have you out of there by seven. And you can make a reservation in very different feel like the phone number is 800. 3934001. The food is fantastic and just read some reviews. This place has great reviews it's called skyline water place in Providence you are invited. Next Tuesday yet to get there ain't cold round 5 o'clock in the in the valley park in there. 803934001. To make a reservation love to see there. Trucks ought to will be there talkers. Not to talk about it Todd let's be. Will be they're taught to be talking about estate planning in how to avoid. Having your assets taken by the state in the event they happen to get sick. Chuck Sauna is gonna give you the secret sauces relates to. Portfolio designed to be a lot of fun I hope to meet you there. 803934. Zeros you're gonna get word there that there's only a few seats available so be sure column. Call now call and now you wanna see. You now to time now is your time right. An alternative to the epi pen. Just got to prove DC would have been the stock prices go. I'd remember last year when myelin came out and you know double Dallas there at depends featured in. So this I mean. Fortunately this is what happens is a small pharmaceutical company comes around and gets approval for their for their alternative to it and yet the stock went from. There are young. Sixteen up to over five dollars and fifty cents a share in the matter today. In doing so yet the had a compass of the famous. Adam has pharmaceuticals AD and he and they've gotten their approval CEO taste come to market and we'll see how violent past few. Has do you deal but this is great news for people that are using the product. Maybe it's running the company had a monopoly. Right what other choice do you have and that accurately project Q. You had to carry one or else you could. And Michigan teen smoking. Has reached historic lows is a good story trying to give give you some good news since Friday. I think I read that the need Major League they do a survey talker of teenagers. And in the survey only 8% of teenagers had smoked a cigarette. In the last thirty days and when I when I read this article I figured it was all sent out a non smoking cigarettes they're going to. The cigarette usage of the total smoking rates have declined. This year have reached an all time low. So yeah its overall use of all kinds of tobacco price of students is still around 12% but we have hit an all time low at this point in terms of all that surprised but that's impressive because it didn't raise it could arrive from. 2011 when he cigarettes really came out smoking was you know going up oh it must not be cool anymore smoke. Because that's usually it isn't it blocked peer pressure among teenagers. Per yes there. Where our next story in the stack in the stack with. Created before. The Amazon purchasing whole foods. Story Kroger shares slide is grocers batter by price fight. So Kroger shares were down before now they're down even more who. The it is the grocery business is just a bad place to live right now. As low margin to begin. Groceries or low margin you need high volumes and if Amazon cuts into your volumes. It is really tough it's a Kroger. Trading up above thirty dollars a share night a couple weeks ago now is down. You know when one below 22 yet the 2140 forresters secret down 13% today. You want proof that the Amazon stories real look at Wal-Mart. You're down four bucks yeah me. Yeah let's take something to move Wal-Mart stock in what they were on one company's pocket actually compete with the Amazon I thought Wal-Mart could just take them on and you know I've. I've been waiting for them to turn their stores into warehouses they haven't done it Amazon beating them to the punch. And they're gonna have a lot better plane with a Whole Foods Market it's. Chris on our FaceBook alive stream commented should he looked into buying low and Kroger. And I'll be on the top dropping a penny I don't know how to throw soared off the top. And you know what you'd expect mrs. Amidon on yeah does that have anything you can catch the sword. Then you should buy or all right they actually practice in all fairness I did have a discussion with our analysts this morning it said. Is the grocery business oversold BA had to eat or are we assuming too much are we giving him is on too much credit. And and this was again be with a whole foods announced him as I was looking at these grocery stores just taking which tells me. Thought about insider trading. That they don't get the sense that some but he may have known in the zone and mobile's America I mean just yesterday grew 10%. Before this news broke out about saying the markets are corrupt. Yeah I mean a little bit suspicious way to buy into the groups or market right now I'd. You know like retail there's going to be winners this abusers. You just go to the bottom of the empire state. Through that soared DP which I thought on Amazon which had bought an inside view is really sharp if you injected engine by. Are coming up we'll be joined by Paul La Monica. From CNN money we'll have the answer to our trivia question and he's got to stocks that's next from our insurer matched up on studios to. 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. 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There are a lot of so called experts out there but take my word for it and get some information from a law firm that has been helping families like cures for nearly thirty years call for your free guide today at 8668485699. That's 8668485699. You can also download it right now on our website had legal exchange showed dot com that's legal exchange showed dot com. Hi this is very Armstrong many of my clients are retired or are planning for retirement and if you're like them annuities may be an important piece of your financial strategies annuities can offered guaranteed income for life but there are risks associated with every purchase summoned duties have high fees while others take control of your money. If you're considering buying an annuity call me right now and get my free guide the truth about annuities learn about the pros and cons and educate yourself about these products before you make your decision call 803934001. That's 803934001. Or you can download the guide right now at our website 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 your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers -- 844 and 99 match let's 84499. 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 of 99 match or go online and ensure a match dot com. Security suffered through securities America and members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Barry Armstrong. Showed soda. Breaking business news every day right here on the financial exchange radio network. For the role of Cooper Steven Spielberg reportedly want it Jon Voight. Take snapple however Spielberg's friend George Lucas recommended Richard Dreyfuss production of the movie jaws was trouble according to Dreyfus. We started the film without a script without a cast and without a shock. It. Bill from our which has the first right answer trivia contest has brought to you by the US senior open taking place at Salem country club and June 26 to July 2 comes here over. 150 the world that fifty best fifty plus golfers including Tom Watson Nick Faldo and Fred Couples kids under seventeen get in free with a ticketed adult. For tickets and more information visit 2017 US senior open dot com that's 2017 US senior open dot com. You know while we're talking my job that's not something online here today I don't know where this is by some leak I think somewhere New England is doing showings. Of jaws where you sit and inner tube in the I saw that the debate be terrified. If very good very good they're good friend Paula Monica from CNN money joins us now I don't ball. Or do so were you surprised by the whole foods do. Pretty much what you look at hold on hold yesterday. Yesterday is that Kroger bad news I predicted this. I predicted this fall and winter months ago I predicted that Amazon was gonna buy hopeful that got a lot of there are a lot of that do you like to do they just they have from a consumer standpoint. You think it makes sense. I think that it. It makes it. Keep in that Amazon experiment that we food delivery food such groceries are such another B multi billion dollar retail business you know the big question I think it can be seen whether or not even lower price model. I'm content to be lower. Works its way he mean to you. Whole foods is well made maybe you can buy a pile of asparagus wonderfully four dollars. I think again it really got the company for free team pay for position stocks up two point 7%. So the increase in the market capitalization of the company paid for whole foods. You look at all cash deal you know stock deal but in the biggest sell the stock it it's definitely. Amazon not hurting but actually it. All Malia she's just as much blown away I thought about a couple stocks you like I assume you like these are like Nike and under armour is that we're talking. Yeah well. I don't know like a support I like them moved you know Nike was the worst pulling down last year. It's still lagging the market this year and just announced layoffs you know 2% of its workforce so clearly they are still struggling I think that the reason is struggling not under armour competed under armour. Had been nice rallied during the NBA playoff guy I think the the step curry bump and now it's that's stock to certain pace than people realize. Eight curry to choose has beaten. Often a lie and I you know consumers. You know you can lovers were not being the cool out there there's there's a joke there. Catch shoes you know we have obviously coming up in. Dad she's not exactly flattering. And also we. The fifth guy Nike is gone away with regard to endorsements that curry it was the end it is finals MVP characteristic. Is going to endorse Nike. Nike. What what does it take pills like. The it in. I think it really does it help him we've seen. You know going back to Michael Jordan obviously how important. It used to have EP. Well known aptly it has a lot of charisma. You know been excellent wearing your product clearly you know we we talked about. But you know Nike is another guy to you know good but it LeBron James Hood avenue making it the final at all. There's always win them but you know LeBron James no offense that carries they'll probably. The most popular NBA star you know probably more while now without a planet. So you know Nike. Oh yeah exactly. You know pat a we last her most celebrities endorse. Right pub owed under armour and they're trading at twenty bucks a share but they've been as high as 44 dollars last year. Yeah I under longer. Has been struggling lately the sales growth has cooled off and I think you know the ball they got during the NBA playoffs with a little. They don't justify it people will be discovering the stock in some respects. Because. That curry DPP's that you. Curry or shoot that'll be coming out later this year in the book better than the last couple models which one there's talk that they do you get made fun out there. Obviously a heated. You lead a big problem for both these companies that he's as surgeon indeed is also. Make them beat loop we have celebrity endorsers and well they got James Harden. Star player for. He's rocket. You know some of these that the company that you can ot just ignore these they're not American company. Indeed it is extremely popular on the world that account for Nike and under. We're the French company here during German. And they are big when I was a kid that he. I don't William bowl where audiences might be added I'm assuming that we might think it's around eighty. Up. I would get created the Shah. I. All right Paul thank you very much for your time it takes a look at your weekend. You to I think. I think Nike and under armour missing out on this segment Tucker maybe you can chime in here to see a lot of people going back report the retro. Poland verses and yes new balance shoes Nike and under armour hit that all they've got a sports shoes. They got the big celebrity endorsements but those hipster shoes that I see everywhere converse on Nike's their non. That ugly and they make me puke green and hit it it that I've seen some bad ones that's awesome news damn. I would be caught dead mama blanking on the compound that secured TiVo's with Sox. I don't care exit at Nike socks if I wish TV thing you know where teams with. Yes they've bears your dad if you can. And you weren't Sunday. The stock price for Amazon hanging in there it's up twenty dollars a share at 993. At two point 99% they did but he company for not a this in wrecked. They'd be talking about a steel. If Amazon gets whole foods for free and the executive John MacKey he stayed on the guy wrote in the company for whole foods he's gonna stay on which tells you something. Thanks for tuning into the financial exchange today and all week long the Dow is down nine NASDAQ off twenty crude was up the price seventeen cents a barrel. Will be back on Monday so we'll talk sob that he'll be back after a weekend off. From our insurer matched dot com student.