WRKO>Audio & Video on Demand>>Full Show 7-5-17

Full Show 7-5-17

Jul 5, 2017|

Full Show 7-5-17 by The Financial Exchange

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

This is the financial exchange with the very Armstrong and chunks of tour exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Well we have a tyrant on the loose in North Korea. And we have a situation. That should be. Of great concern to investors around the world doesn't seem to be impacting the markets any great degree. Everybody's very Armstrong and John Moody filling in for truck this week. And I I look at the story and I look at some of the statistics related to John and I just say to myself. I I'm very nervous I'm more nervous about North Korea than I've been any time the last 2030 years we'll think about it we now know that their further kid in their nuclear development program than we thought. Pages you know showed off an ICBM. Intercontinental ballistic missile. That we now have no. Confirmed. ICBM. Not a medium range missile. And it can for humor sure reach Alaska. And is certain trajectory possibly even further. Now I mean wouldn't ever hit us and we probably take out whatever was up there must be antimissile you just wonder you know if they decide to lob it over to South Korea. In highly populated area and I think the president is in a very difficult position here you know eat. You could tell that he wanted to do something over the Ottawa beer story right that. That alone had him provoked. Now you've got a situation where this news that went in China in South Korea or North Korea excuse me has launched more bombs and weapons and done more tests than his father did missed our time in office he seems like it's happening once a month. Now and we don't know what's going on I mean Donald Trump posted this week if you know business driving better do not mean. We don't really know what he wants what he thought too because. Meek he's acting increasingly desperate you know. And he's telling us hey you know we could deliver nukes and and reach the United States not the continental United States probably. But the United States that's a scary proposition. Yet financial markets currently the only at this and kind of shocked to see that gold was on either side of unchanged. Oil markets which normally would be taking off on this are slow enough you know so there's. Feeling like we've we've seen this before but I kind of in your camp Berry worked yeah we've seen him long stuff up before. As a shell of whatever but this is taking it to a new level and a lot of our intelligence people. Were frankly surprised to see how far along they are on this program that is what's most. Disconcerting here and in what is what is our response you know we've we've telegraphed and we said hey we are prepared. To respond in the military action. But basically years we've got 20000. Soldiers in South Korea. The population of the greater Seoul area which could be wiped off the map. Is 2530 million people pay they the vacant now I don't know how many of them would die. In North Korean attack. But they can they can do a tremendous amount of damage to the city of Seoul to one of the largest cities in the world and it's right there it's right in thirty miles from the border I I've heard it in a best case scenario and the reason why military action is. Really off the table at this point. Is that in a best case scenario you'd probably lose thirty to 50000 or more people in Seoul. And that would be you know how the United States feel if we. Initiated an action that resulted in the death of more than ten times 9/11. Of innocent third party people. I think it was South Korea who have nothing to do with this line would be wiped off the map at that rate of ten times 9/11 in this case there but if the alternative is one of these things hitting juvenile last. That's that's what the president's gonna have to make a military decision in peace and you know you've got good people needed I feel very confident in wrecked to worsens ability to make a decision on this way it's a tough spot. And the other thing is look if if it was just a matter of okay we need to defend against a missile that could that you know we have the anti ballistic missiles could take that out at the at the beach that's not a problem. The problem here is if there's there now. Where are they going to be in the year where you go to Japan right right and worthy in the five and China is not doing a darn thing. And that's the problem I mean he's our relationship with China has changed back and forth a lot more like six months. And China is in the position frankly very where they do not want to see a unified. Korean Peninsula that is pro United States. So there in the game were like that they don't want us looking good with the with the north Koreans and the South Koreans. They're like standing buys anywhere were on the sidelines you know but you never know you know why are they being quiet this this is something that should not racial. This would be a danger of ultimately potentially it could be when you're dealing with a nut case now know why I look I have no idea how the single and and that's why he yet. People with tremendous amount of resources making these decisions. US auto sales fall as fewer vehicles go to the rental chain's board. You look at auto sales were down 2% here today. What would probably going at a at a six point sixteen point six million unit annual basis which is down about a million. The group deuces and you know as the stocks rallied. Was last trading it was Monday. Monday at four it is really because GM is in the second half years actually. It says that a couple of years but you're right sales are down. And the problem here with fleet sales is two fold number one. Of the rental sales are at least profitable business and GM is try to get away from that because it has has Ford as his four because this is not that profitable. But on top of that bury the heat the the logic behind fleet sales is that it keeps your factories working right. And keeps the labor Scobee you know making money on it and then the problem from the consumer standpoint. If you're buying. One of those cars in dealership he devalued very quickly as penciled in in enterprise. You know 100000. And then for one thing that the fact that fewer and fewer people are renting vehicles meaning the rental agencies. Are buying fewer cars. Because a lot of the people who normally would rent cars are taking over. But the miles driven must be up is way up to you when you look at because he did decreasing sales rate in. You had the really bull market in 91011 we have very few automobile sales in those years I think correct 1011 cars. Now you're running it sixty million cars of the cars being driven. Must have one miles on the Carson 23 yours a have you rented a car recently I build cars I've gotten and a whole lot of miles at a packed a couple of times I went back the counters say this he's got like 44000. Miles. These things that without an old guy remember those days what's the deal and other car. I mean you wanna check the odometer well on the next amigo currently is yet they're keeping them around for a long time because look fewer people a lot fewer people renting cars these days. It's hurting the rental companies big time look at these numbers GM down four point 7% were just talking about for them edges. GM sales down four point seven. Ford sales down five point one Toyota up yeah Toyota up two point one in Chrysler down sat craft yup. Honda is doing better Honda up point 8% and Nissan and Nissan's doing all fleet sales. See Nissan sells a lot of the fleet is athletes and that's not that's so you know help them. So basically in numbers are. Are down 2% year to date. 3%. For the month of June. And the dealerships not doing too badly here down less than 1% of the retail. You know the box of the world who are still don't know and they make all the money service in the cars and what happened is that inventory start to creep up higher and higher cut very very high in May and June. There working out some of that inventory. Good news for the auto makers as General Motors and second half years looking better and they expect to make some progress and eating into that very large inventory. Which they distort story which is the fact is people aren't buying cars we talk about cars that's like a generic term you know whose light trucks suvs. And what we know is passenger cars people aren't buying cars but the vehicles they're buying cost a fortune. They do need here their financing. The average total little length on. Is 69 point three months in the month of June. At six point 8% longer than it was five years ago and the average amount that buyers finance. It was 30945. Dollars per car. That's up 631. Dollar from Maine and get this. The average monthly payment now 517. Dollars these numbers are like mortgage numbers back we remove a juncture if you you're darn right. The the thing that you run the risk as you go out and you Bora 30000 dollars by car. And use your financing it over caught six years. Packed cars in the underwater in your ear and yes your equity in that vehicle until the very end of this car payments. And year yours so you're stuck with these cards here upside down the the only good news I was able to glean from this. The average credit score of borrowers of new vehicles. Rose from 712. In the first quarter to 717. So the banks have tightened up a little tip and the average credit score for used car. Has gone from 645. To 652 also very good yeah better than then that historical number so. That the credit quality of people buying these vehicles even though they're very expensive. As improved as any other thing is in in defense of the purchasers. If we were wanting these numbers ten years ago I would tell you these people going to be in big trouble because. By the time they're done finishing paying off their car to get have a 00 worthless vehicle the good news is reliability. And quality has. Been almost a revolution in terms of its improvement. The worst caller on the road right now reliability. Is better than the better cars on the road twenty years ago they are lasting much longer. And the good news is that the and a 69 months you actually are gonna have something. That's a pretty darn good product when he used to be the old news tonight forty years ago car. I've bought drive for 60000 Maya those my benchmark in an electorate that is usually two or three years now and get rid of it. Now I think that mentality has to change because the things I drive sedans. Sit visits your about the unity paid 35 great adversity and today. In the penetrated in three years reflect anger rise if they they don't hold their guy. So that's what they're worth keeping BER whisky because they last longer and their reliable transportation. And on one hand you get upset when you see 69 month long loans at the other hand like you said the people we hold on these cars which we are an average eleven years there is some value there. Who's winning the race for self driving cars to fair question Geoff Reeves for marketwatch.com. We'll answer that and more. When we return for march or match dot com studios. The trump agenda stalled. Berrian judge give the latest every day beginning at ten. Only on the financial exchange radio network. 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 rules -- clients such as ECH payments mobile banking remote check scanners and it's innovated to see rent payment platform leader bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917900. Or email -- BO at -- -- dot com for more information member FDIC equal housing lender. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer managing 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 then one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match 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 than money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. Very Armstrong here and I'm joined by vice president Jeep tool from leader bank. We're talking about Z rent this is exciting because zero rent is a method for landlords to collect their rent electronically but there's now. Find refining Jane that it's being widely adopted by Condo associations tell everybody would he rented. All right so is he rented the product we innovative leader being. Comedy can be found it www. Theory dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic and it's. So there's several advantages first you say goodbye to being reliant on the US Postal Service. Goodbye to delays in the mail and no more need for paper check right. Where it's really a lot of millennial Estonian have a checkbook we're getting that all the time the label will call in and sign up because his tendon saying you didn't check the it wears this really starts to get funnies we knew if your landlord and you have. Multiple tenants living units this grad students here university. Well right now they're all writing multiple checks and sending them in in for a landlord that serves become confusing pain in the neck. So would you read will do is it likely. Deputy each tenant can individually batches in 101 payment for that unit to landlord. And then of course there are some reports in notification the electric stuff. But going back to your question about Condo association's a lot of Condo associations have been you you aren't as well because the Condo payments that kind of you sure do every month at the scene. So they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like something that you need to learn more about folks visit. Zebra dot net to learn more that's a website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks get with the modern age go to Z rent dot net or call them toll free 8776917900. Security suffered through securities America and members finreg SIPC and advisory services arbiters securities America advisors think carry ons from representative I'm strong advisory group in the securities America companies are unaffiliated. I'm stronger. Bringing you the best in the business and financial news every day this is the financial exchange radio network. Some of you may be skeptical as it relates to self driving cars but there's an awful lot of money being invested in this project. We're joined now by Geoff Reeves from marketwatch.com. Jeff good morning welcome to the program entrapment what was the motivation behind that we mode deal with Avis and budget last week. Well I mean it's it's shouldn't come as a surprise to do not an auto makers. Really need a kind of sweet services company that the deal. How the first of many it will be where Google isn't mostly concerned with the soft our side of it trying to figure out the AI. But it needs someone to make sure the engine run than the tires are bald and stuff like that actually a pretty big deal. Maybe the future of a company like it instead of ranking it Cubans may be it just threat to Google and or or who we're whoever. It it's definitely interesting I mean especially when you look at that. The miles that Google has law that they're three million mile on public roads I mean that's that's not chump change so they're definitely have to be if we services. We services component there and and that's basically what that deal about. Are they in the lead in terms self driving cars in your opinion and based on your research. Yeah I would say. It's it's hard to tell all that is emerging technologies and you know come from behind. But at anyone and he knows that cute little cars that Google is setting around deficit you know. Almost four years ago now does actually been required. After so many miles of the is start functional anymore and I are usable they found on a technology in the wall that they they were on the ground floor and that's the I don't think you lose in the cup. How. But the technology is gonna be ubiquitous and wolf forget who invented it oh crew created. Yeah I mean I. I I do you agree with that notion I think that it unfortunately technology just kind of work these ways or will get a monopoly in the duke got a monopoly by the fact of monopoly on search. Apple almost got a monopoly on the left thoughtful market that thought it's really hard to unseat some woman had that first little power you know Netflix. So I do think that while people may not care you know hundreds of years now I do you think there's a very small window or some gonna make. A boatload of cash element and again I think you look at the front packer. Any foreign companies giving Google a run for their money. Yeah interestingly enough that the cliche is it's called Baidu Google China and it goes to a lot of things that Google though you in one of the things that really focusing on a driving cars right now. A court to resolve what cited think that he can have mass production capabilities are 20/20. It's really pushing ahead and I you know I have to tell you that in China you have a company and has the blocking of the government I mean it's it's kind of hard. Part because sideways with that that is definitely resources and in the will there to make sure I you delete them up with Google the next couple years. What's Ilan mosque saying in terms of when he'll be able to sell. Fully autonomous cars. Yes so it's interesting there's these different levels of stop driving. Automation that you can have and right now the auto pilot function here a lot about it semi autonomous meaning it's somewhat active. We control the car again. If they if they get a warning. On the market thinks he can also be ready to go back point 18 wit level or which means almost everything to be taking care of them on a car by itself. And I thought that Arlen that's three years and it is expected cap but as to is. You know we talked about we management. Well it it an automaker that includes all the technology onboard with its vehicles let the post like. Retrofitting or future or what have you it's already there and Marty looked like as opposed to note that there's that we you're. Ball flight out of the car that I get retrofitted. I think definitely it. Caught up. Or is. Keeping strident Google. It's easy trying to catch up because they party have all this on board technology to update the software to improve it and it should be good again. Along those lines General Motors unveiled the us the super cruise control we have which is kind of a baby step on the way to fully autonomous sort of semi autonomous real world solution. Wonder what you think of that night and maybe even just your your opinion that. Yes so a lot of the the cut out. Old company will call them he traditional auto makers. That they're not at that apparently that far behind but it's just collect during the Titanic you know there's this bit of operation that. I think we can all agree US auto sales are picking it they have authority peek at they've got pressures from shareholders. They don't really have the same flexibility with cash flows that accompanied because it's a very capital intensive business. The build millions of cars are on the world. The other the kind of polar opposite a more cautious than you can have a particular. Would that ignition switch recall you and you're not going to be inclined to be aggressive in the company like Google because you've already basically block it in the past but I certainly think that the traditional auto makers. GM Ford Honda are gonna be left in the dust course there ID think that there are a little lower to adapt and they are definitely more cautious. Just because the nature that your company like that. Very good Jeff thank you very much for your time we appreciate. Jeff reed's marketwatch.com. Giving us his. Opinion on self driving cars John what do you say to the listener. Or to yourself if you say I I I enjoy driving. You know I think I just think it's it's kind of a fun thing to do with how do you. Have you circumvent that we what do you do to the guy who just says it bragged I like driving my pickup truck or I find it relaxing drive and work. I think I think General Motors and others have come forward and said you know the the best of both worlds would be something like super cruise control and where you can take control. Or you can you know gonna take it easy and when your on the interstate and you know sit back and and we'll let you know when there's an issue when there's someone right behind yours from right in front of you or someone coming up on your. I mean it's but I I really worry that a whole generation starting right now. Is gonna miss out on the fun of driving I think it's it's inevitable my kids still like to drive down the gauntlet for me when I was a kid growing up I wanted to get my card on them fancy car reached elated just. I want cars were important to me. Yeah my kids could care less about cars and none of them say G Iowa I wanna drive cut cross country they need to no desire to do it. I talked to an insurance actuary and you know talking to him about people being resistant to this technology says. They resist all they want they're gonna pay for it in the form of heightened insurance premiums so say you heard John Moody says one not buying one of these self driving cars I wanna drive my. 1987. Straight right and drive logs you want. Be what you paid 5101000 bucks a year for insurance interstate yet Aetna and had what what how she insurance if walls in this new world was going to be fascinating because they're still has liability. I mean there's still will be accidents there's will be nearly as many 97%. Fewer accidents at. That's up. That's an amazing number. Well you think about it they'll only get when you go to cash register it's all computerized right now is the old days he beat them by hand and got it right on a 58 and actually get it right now occasionally. And when we come back we'll be talking about mobile that's our next story for march or match dot com studios. Making your Smartphone even smarter. Don't know mobile labs like searching financial exchange show in nineteen Jordan who. Who plays store this is the financial extremes radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent day we see right leader banks all mine rent collection tool. He went automatically deducts tenant's rent and deposited into your account visit www. Z -- dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot net to learn more or call 7816418691. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is Barry Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock let Pete each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased with a focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Time now for Wall Street watch a look at the market's performance so far today it until Berrian jug right here on the financial exchange radio network. Some of us are surprised that the Dallas only down 59 points. In light of what's going on in North Korea and I count myself among those yet and and the Dow in the US and in your treasuries them. You know a lot of people on our text line is this going back to the North Korean story. Or you know encouraging the president to respond in a military action I don't think they understand. 863 whose unit is a regular. Guy regular listener buried naked. Locate that that mystery reap rapper date with satellite and lack of with a laser that simple while they're having difficulty finding them but the other thing is. If you take him out you know what what balls in his place. It would as the response. Unity the the knee if you remember the president's looking and saying I've got 20000. American troops along the border. In North Korea not to mention the number of Americans that are working in South Korea. News lot of Americans that are you know working transplants that are working there for years to teaching and and in it. I think he's got to be very concerned about a military responses and with the reaction and I I look if we could do that that will be fantastic but you know what if there's like one person loyalty him. Who he says if I'm taken out you press this button right. That eliminates soul that takes off hundreds of thousands of people. And you know what we lose. But the people don't understand is you know we're trying to deal with terrorism this way they can. Let's give them a determined you don't have a deterrent for people who are willing to give up their life in the suicide bombing there is no deterrents if you kill them. This fight now. Yeah they're willing to die you know so if we're dealing with someone who of that mentality. It's very very difficult and he knows that he knows the box that we are in two. Former president George W. Bush turned 71 years old this week we're doing trivia about our nation's 43 president. In which year did George W. Bush first seek elected office. Our text number is 68680. What is the what is the prize and yet thing of running. I I don't have the pride all day anyway. There's some kind of prize will find out with the prize. Eight in you know it's just it's a 25 dollar gas card Otis which goes very far out there because of prices don't you actually getting more gaps all right. In which year did George W. Bush first seat seek elective office and again our text number. Is 68680. Vogel planning to go electric into abandon. Being the conventional car engine by the year 2019 this is remarkable so again you're gonna wanna win that 25 dollar gas card because in 20/20 one it will be pretty much useless. But you need electric car that will thwart a new card by 1221. But it would get Volvo is saying they're rolling out five new electric model vehicles. Before the year 20/20 one between 20192021. And they plan hybrid or electric options on pole new models are vulnerable saying goodbye to combustion cars loaded at least hybrid. Or electric that's going to be your entire fleet coming a person. The US was the vols fastest growing market last year mostly in the 18% increase in sales 82000 vehicles. This is the company's Swedish company started back in the 1920s. It was 1927 to be specific in his book purchased by forward in 99. And now it's owned by Chinese company interest since 2010. And I think a lot of this has to do with the Chinese ownership I think you've met in and Volvo has done they even when they had difficulty they always did well in New England. It was one of their better markets. Definitely a reputation for high quality is that in the winter the good safe cartoons yet. And then after years of growth. Auto makers are cutting US jobs in this is troublesome given the fact that where you know we've been recently had a seventeen million unit. Level of sales also. People buying a lot of vehicles the problem is as we said earlier. They're not buying passenger cars sales of cars is dropping so plants that are making cars are either being shut down or cut back a lot. Output is being somewhat reduced to Wear down a price sixteen point six million units that you're so. Slash about a million fewer cars sold this year and the other factor bury on top of all this is. The factories are becoming more and they love that so that point I was gonna make it if these these these factories now. Are being run by a largely by robot and again you still need a lot of employees that he needed. Twenty people to do a job before. You need seventeen now and at the margin that is every year panic eating away at the number of people that they need wartime here. Now the company having production problems test. Yeah great vehicles beautiful vehicles now we've been somewhat affordable 35000 dollar range which is opening up a mass market to a company that. Is essentially a niche company enters production. That's the problem the production levels. Are going to be a huge challenge state. To their credit delivered 47000. Vehicles from the first six months of this year but. The bar's been raised so far high that fell short of Wall Street estimates and short of what the consumers are demanding so. They've got something that people want they make a great product but the question is can keep up with production the end. He level. You know keep this vehicle as you know trouble free as it is. You know higher production level it's going to be it's really more of a production challenge them at a technology should I worry about there ability because they don't have food service network. I worry about their ability to handle recall. Wore a glitch you know if they put these cars on the road in the all need to be recalled. They don't have the capacity if you go to Eric Weaver been to a Tesla dealership that much to. In theory it's. In the service bay it's it's not like when you walk into a Toyota dealership where they have a substantial service department. If that does he know maybe you don't need it may yet that is the beauty of the carbon you don't need a lot of service. But well you haven't yet because they're newer cars but what happens in five years six years I wanna keep my 35000 dollar Tesla for eight years where Dwight go I I've heard anecdotally that. You can get help but it's very expensive. Tesla shares today down 4% or 1475. And a lot of people that have lost money shorting tussle. We have a lot of people delegates that John and me need laws there are rear end you know I have a theory and whoever talks with bank right and FaceBook Amazon Netflix Google as the ball. I actually think that although not a big fan of FaceBook stock the stock is not that expensive in Google is not that expensive. I think the bubble is at hand which is gonna lead you to get burned Tesla Tesla. Amazon Amazon Netflix all great company said it was on skates it's a matter of a 500 billion dollar company trading at a 180 times earnings. You start running out of people to justify the rates at that level of growth and they have a legitimate competitor now and yet. I in my last three online adult actions I correct myself. Three of my last four purchases online car through jet. Yeah and and I better pricing better and and better product. In this is the issue is look at the deputy Amazon prime day coming up and we'll all buy stuff no question about buy stuff and games all the time. It's a fantastic company. Be careful though on the price break because there's a lot of people in my game he'll online sales is not a proprietary business anymore. And there's people like Wal-Mart who provide tutoring free shipping also says. Got shop around that's what I've started doing I mean I have found in three it's just three out of the last four but I I checked both places now. And that even if I end up going in the zone it's gonna effect their margins dipped and quick announcement on behalf of leader bank in this program called see rent. And it's terrific for Condo association's I talked to a small Condo association. Guy running it is or six people in the Condo association. And he now uses see rent to collect all the Condo fees. And so if you're in charge of one of these small Condo associations and you're waiting for checks to the mailbox or slipped injured or. Save yourself the aggravation because he rent will collect electronic fees from your fellow Condo association owners electronically. They'll put them in your treasury count and you can use them to pay your bills that you would need to do. Make your job a lot easier if you're running Condo association if you're gifted in learning more about zero indeed go to the red dot net or in call them told free. 8776917. B 900 that's all for 8776917900. Zero rent dot net. Collect your Condo fees electronically and don't hassle. With paper checks 8776917900. Is the phone number he should call. On back that Tesla story they're gonna deliver a hundred of their new vehicles in August. 15100. Of the new cars in September and then this will be ramping up to you know 4000 a week. Thereafter they are have orders for through 400000 these cars no problem selling them people are lining up to buy them the question is can they make them and they can they do and they make them and a level of quality that people have come to. To expect. Tesla is very high quality beautiful vehicle. Their challenge is simply going to be making sure they can crank that thing out at all you people want so that's going to be the challenge for the but there's no question they make a phenomenal vehicle. The senate the Republican senate is in a tough spot under their health care overhaul average premiums. Four in mid level insurance plan would jump by 20%. Next January the difficulty they have jobs. They're gonna be hit the their customers and their constituents are going to be hit with a 20% increase in their premium. As they think about going to the ballot box that same year rate for the mid terms of and eventually supreme is cut down the short term should be some pain. Yet the promise of lower premiums could be the Republican version of for the Democrats if you like your health plan you can keep it you know they promised lower premiums. Eventually we may the rate of growth in premiums make them down a lot that is you know in theory now works the problems in the short term. You could get bills in January of the year called 2018. Which sells from mid term election year. Analysis is that the average increase in premium will be 20%. The health care thing has worked out well for parties in power and about the target US and yeah will be a trend here buried as if you're the governing. Party. And the topic is health care. Prices are higher what you called obamacare trump care or not care which is 2007. And prices were going up at an even bigger race. And we have a cost problem here and no matter the skin the cat you've got to cost. Do you in your opinion does this bill get through. See you think taking it because they've got nine senators. Including Susan Collins name right that are saying about. The problem here Republican. Look at it in the problem is exactly what Donald Trump articulated that is you don't know what to negotiate. In other words if you make it more generous you alienate half the people Ron Paul if if you are Rand Paul. If you cut it back. You make people think it's too cheap so I. I just don't know how it goes through because I don't know how he can negotiate the problem is he's been no new ideas brought to us yet this is the type of thing work. Taking a position of I don't want whatever you're talking about him. Is the most politically Palo deal what you paid obamacare rate trump here. Being anti. Doesn't cost you votes. And this is a terrible place to. Damien Conover. Or Morningstar joins us next with stocks election stock talk is next for march or match dot com studio. Trump's first 100 days didn't pass any significant legislation. But tax reform and Health Care Reform are still on the table. We'll either passed before the end of the year keeping here would Berrian chuck for the latest on the president's agenda and how the markets are reacting. This is the financial exchange radio network. Many of you listening today are probably retired are getting close to retirement age so have you taken time to think about what happens if you Wear your spouse get sick and needs nursing home care hi this is very Armstrong with the question what would you do if your spouse didn't have enough money to live on because you were in a nursing home and depleting your assets like tens of thousands of dollars each month how long we Germany last if you share these concerns that I want you to call Cushing and dole and they've got a new guide out this month that can help educate you on how to deal with this problem you might -- -- -- the state or an irrevocable trust which one would work best for you give the experts at Cushing and -- and a call and let them help you create an estate plan that will not only protect your assets from a nursing home but it will also help your family avoid probate and potentially eliminate estate taxes call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange show dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match that state for 499. Match many of our listeners don't know home then 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 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 -- 8449. -- 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 can save you time stress the money with just one phone call and one relationship. Call today 844 of 99 match or go online and ensure a match dot com. Hi everybody it's very and Todd with you here with a quick tip from the legal exchange showed doc common. Todd I wanted to talk to you about the five year waiting period for Medicaid eligibility. As it applies to the use of genetic and like the states so let's say I Cree act. Do you buy house away I give it to the kids. Does that five year clock start taking if I've done elect the state yes so if you take your house and many people do this if you take in your house and transferred to the children. And reserve the right to live there you know does that create a five year Medicaid I would absolutely at the and that's the definition of elect's right giving your stuff away. Give it away but you you do reserve that right to live there so that's at least something that you're keeping which which is certainly helpful to you must pay the property taxes and maintain the property. On the property taxes and maintaining is all done by the life Tenet a cut you know. But I I want to stay on the five year waiting period just for minute because so many people think that it doesn't apply even for the life as the arrangement like you mentioned very. And also too when they make you hear people I can give 141000 dollars a year away because I I can do that and not pay any gift taxes. That's true that's an IRS regulation. You'll pay any gift taxes but you will have a five year waiting period. For Medicaid eligibility so it does apply to almost all transfer some. Including. A life for state arrangement so yes it does apply folks Cushing and Dolan is making a brand new guide available and it's very helpful for those of you were thinking about giving your counseling users alike the state compares. The advantages and disadvantages. From a like the state to an irrevocable trust the phone number to receive the guide. Is 8668485699. You can download the guide right now. By going to legal exchange show dot com or call toll free 86684856998668485699. Stay on top of breaking financial news by becoming a member about Harry's brigades. Log on to financial exchange showed dot com and sign up today. In 1978. George W. Bush launched his first campaign per seat in congress but he lost to a democratic candidate named Kent Hance. Can't became a Republican in 1985 and donated money to Bush's political campaigns in later years. And Allen nailed that one Alan's from the West Dennis. At the it would be trivia question and our trivia contest has brought you by the law firm of pushing and Dolan the experts in elder law. If you have questions about your existing estate plan work you need advice and creating a trust to protect your assets from poorly. Visit Cushing and Dolan today at legal exchange show dot com and again apple getting a golf cart congratulations Al. Time now for stock talk and joining us from Morningstar is being UConn over debut thanks for joining us. It did you talk about a couple of companies wolf health care companies a pharmaceutical Santa feet. And Roche ness of the is a foreign company but you combine the eighty yards here in the United States we think about that. Yes to articulate it can't say you weren't in control important for all large camps obstacle first it's really to take a look at what sort of products are losing pat nexus. Patent protection you verses their pipeline. And pantries case you know that really facing a lot of and the expiration or an extra years in him. A very strong clip I really led by depiction which looks very well positioned in a growing area have a topic Dermot played as they conduct. A lot of potential for growth here with the new products and that a lot of have lots of other one thing the reason was that it's probably cheaper. Is whether existing products lancet this is one of their key product. Close to 20% of the profits of the firm. Don't face increasing competition now to biologic. So the pets to the competition won't be as severe and so when we look at the overall. Growth trajectory. Relative to the valuation the stock look undervalued to us. What about the whole issue of Health Care Reform honey handicap that because they we don't know if that'll happen beat if it does happen. We really don't know what the negotiated final Pradesh could look like does that enter into your calculations at all that so. Heidi how do you figure that. I utterly important questions or talking about the global firms United States is one of the most important markets or for all these firms. To Health Care Reform it's really important is sweetly done package it a little bit you call it sickening impact that different industries within the health care sector. Most of the industries they're going to be. Up primarily impacted with how the bills are shaping up right now are going to be the hospital industries the insurance industry in the the pharmaceutical industries are probably be less impacted in you know it's what's interesting here is. The principal industries actually make it a reprieve. The taxes that were put on to them by the Affordable Care Act and well they might lose some of the folks to. Gained in church that he portable Carrick. Those lost Texas without anymore with benefits they'll help cure or. Four. The first with a purse it's probably in that positive. Titled China what's your opinion. Yeah Rocha the firm that you'd think you have a lot of upcoming patent losses but a lot of that is on. Biologic drugs so be filed similar competition we don't expect to be as bad as what you see first small molecule so we headwinds here on the ten losses shouldn't be too bad. And when we look at the pipeline is there watching a lot of early transformative medicine in. Ecology in a multiple sclerosis all of these its strong pricing power lunch you take a lot of markets here. But we think the market it's probably holding back a higher valuation here because of the concerns almost filed similar threads. We share those concerns but we think the markets under estimating the pipelines. Would you be more in favor of companies that have more United States exposure or would you maybe be positioning yourself to companies. That a moral buffer from non US exposure because of the hole. Question mark surrounding health care and let yeah. And so I think strategically. It makes more sense to have more exposure to the United States is that's where the best pricing power is. Still I would paper more of a firm focused on the net and from the valuation perspective because exactly the question dressed in Reno while these terms mean have. More valuation opportunity because of the concerns that the market hands but I think those concerns are over done. And offer opportunities to strategically in valuation want to think having more exposure to the US is the better way to go. That's interesting you say that because I think there's a lot of bad news baked into these companies. And I think that the surprise would be if there's not a lot done that could be a lot of upside did you view the same way. Yeah absolutely and we're the opinion and we think the challenges to getting this bill through are very high and we still believe it's less than 50% chance to get this built yourself I think no news on this front would probably be good news and you also keep in mind if this does Hatcher pharmacy side. It's actually probably net positive on the on the earnings. Yeah every specialty drugs and I'd be less adversely affected. Really get out did a good question but that's not that save that question for another day like permanent or gurneys that they view that there. The markets there about a little bit at. I think primarily based on what's going on in North Korea we sure appreciate your stopping by for this hour we'll be back in just a few minutes it's John Mooney very on strong. From our insurer match dot com fit. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is very Armstrong and I like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but Pete each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased with a focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide to understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member SpinRite SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great rate on hold mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making 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 back a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the SE equal housing lender and Miller number 449250. Subjective credit approval leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the 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 84499. Match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 84499. Match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today. This is the financial exchange with Barry Armstrong and sharks are. Your exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The situation in North Korea is one where we are trying to negotiate with any rational tyrant. And it makes me nervous I look at what's going on there way I consider the ramifications of what could eventually play out. And makes me nervous however. If it was really bad the market would be selling off too much greater degree hi everybody it's Barry Armstrong and John Mooney filling in for truck today. That was the only down eighteen points on what. Twenty years ago would've been considered an international crisis and there's no flight to safety in the old days the flight to safety would mean you'd CEO oil prices going through the roof you'd see gold going way up. You see money going into the US bond market the treasury market today I mean we have none of these things are happening right but does it mean we have. Access to more information and we know nothing's gonna happen about this if I guess that's. That's my interpretation when the market doesn't respond in a negative fashion the markets saying. John relax you're worried about nothing buried just chill this is gonna go away he's not gonna do anything. That that's my interpretation of what the markets that. The markets and we've seen this movie before and we know that there's zero point 0% chance that he wins now. You know I think the market may be taking a little bit too much in stride because I think they are this is different I think the fact that this is an ICBM Intercontinental ballistic missile. Shows that he's way ahead of where we thought in his in his program. Again we know when says he's gonna win anything. But he can cause a lot of damage but the markets also saying in a worst case there are so he causes a lot of damage what does that mean for the price of Amazon's stock. Mean maybe the markets being rational here now they may be in the past it's been a rational. The are our question to their poll question today is do you think the president will respond in the military action I don't. I don't see. The only response in the military or fashion is if he law they lobbed the ball to Japan or South Korea. Then I could say it's all bets are Roth and he's been just burned to the ground and again I don't know if you would define a coup is a military action but some you know and and and a listener mentioned it earlier Leo look at their some way they can kind of grabbed the people who are in charge in the and male you know and and and pull off some sort of an internal coup. Brought about by the United States' involvement. I I guess that's our military being involved. I just don't see weapons being able fear that because I just think the consequences that aren't just. Well if we are if they are involved I don't think we initiate. And I go way we respond in a military fashion I think is in the V Starr while the bomb we felt that Korea or Japan. Then I think it all bets are off if they do that it's good night North Korea and because there will be a lot of casualties anyway. That as a matter of we're gonna add North Korean casualties of the you know there yet. But I agree it's not going to be us initiating anything we will respond and we absolutely will respond with any sort of action. That he would take militarily I think that's the markets saying look we understand what's at stake here. He's not that down. Who the heck is Gordon Hayward at that and why did they use somebody decide if I don't know if I'm reading this wrong or not it's somebody we're gonna pay him the Celtics are gonna pay him a 120 million dollars over four years not this. And what does he do well they looked at the T brain surgeon he's not a brain surgeon but. Colleagues have recently like for example on Stephon curry got over forty million dollars a year. Other guys who make you thirty to forty million dollars year this is 32 million dollars a year. Which by my count will make Gordon Hayward. The highest paid player in the history of Boston sports putting him one million dollars ahead of don't laugh David Price. And which is that the highest contract right now here's what I found really lifting though I predicted that he would. In any case with the Celtics for dealing with a unrestricted free agent. Who's also negotiating with teams from either Florida or Texas. That the self which would never win and move because we've got this pending millionaire's tax coming up which got a which if it's approved again we don't know would that work. He would tax income above one million at nine point 2%. The inner geek in me just figured out that. If this were passed Gordon Hayward. Will pay eleven point six million dollars more in taxes. On the same Max contract. He would have gone from Miami actually that's not entirely accurate because you have to consider if you play in Miami Miami. You still pay any taxes under Celtics game. So when you come to Boston and played it yet you pay if you're a professional. Believed these professional athletes and finally 3040 returns is if the file in every state and city in which they play so. If if you go to if they go to new York and they're playing the next day after he he's gonna have to pay. New York State income tax in New York City income tax on the money he made during that game see if our if our Gordon Hayward then I would play from Miami I would. Wanna get rested when they can trip to new York and Boston. I can make you war but they were. Curious edit failures that Danny Ainge whose brother yeah. Is the legislator in Utah. He explained these economic side just mentioned about the millionaire's tax in Massachusetts to try to keep in depth in Utah. And again. He said he changed his mind four times in the last couple of days. What do you legislate within his old quote traitor and an APEC for the typically for Brad Stevens of Butler a couple of years ago and it's. Changes mine apparently three or four times yesterday you know he said that but I I have a suspicion here. He got a 2100. Page articulate explanation. All of why it's so sad to leave Utah they hit exactly. Win he announced his decision last night yet. 2100 word thing like. By snapping his finger or to come up with yesterday when he told everybody. Them go out and he'd. Want people in Utah during his Jersey so we want to lighten the blow. He had the he had the article thank commute to affecting everybody there and all that but it apparently leaked. Hours before that he was going to Boston and is this the top money offer he could have gotten to so so the way it works in the NBA with its weird and it's. I've really don't really understand it now think anybody does but there's a certain there's a Max contract we can be offered. And this was the maximum amount of money that they could offer me he was gonna get that no matter where you went well except but it that's actually true. And that's exactly what Miami could offer yet but there's something called Larry Bird rule which goes back to win. When we went very and I were big celebrates fifty years there's got. And that is they along all of you for your one star player to basically break all the rules whatever it takes to keep it so he Utah. Could have blown them out of the water yet they could pay them 45 yet. I believe. I think they could go like up to 44. Yeah they did. But I didn't and you know they know that they did a pretty good on on all I'm pretty sure that I'm pretty sure they did but he just decided to two on right. Disney Channel that's the children are tuning. You know it's funny Disney. Channel was actually a pretty big thing when I was raising my kids you know 2530 years ago there was much. Cable TV is bad news for the Disney company we've we've talked many many times about ESPN in the back to their losing millions of subscribers in those are really her because they're paying like seven dollars and fifty cents per subscriber. But. It gets worse because Disney's hits channels now. The Disney Channel and what's I didn't realize it's a free form and reforms the old family channel. Between Disney Channel and free form beer each losing four million subscribers. In three years. The numbers have turned off. We were to miss this before we shall bury. Your grandchildren and might some day grandchildren. May be the first generation that never watched TV in our kids are turning it off. In going to Netflix or watch it on their tablets there watching unfold. I. I don't turn on the TV very often in my life and I might watch it showed again there. Every now and again but it's not something where you know you just sit down and you like Oates Thursday night we're gonna watch the writers in the lineup you don't do. And it's it's really a revolution that happened almost overnight Nielsen which measures audiences for television. Says that among people and I love this demographic ages two through 34 who are part of a wide demographic. Viewership in five years has dropped 34%. To imagine what it is if you measured two through eleven. You know like those people are not being exposed yet they're watching. Watching only digital images in digital product but they're not watching cable television. In this is hurting Disney really hard cable TV is a very big problem that Barack was such as the company would we are kids on Sunday night you'd watched the distinction right yeah different terrific show every Sunday night at 67 oxy and we dinner. In the and the kids would go downstairs and watch the distinction. And this is the problem Disney has is that there's several aspects of the Disney company that doing really well including parks and theme parks and resorts he it and it was certainly not ESPN the film division and this is the problem areas that ESPN and cable. Is a very large chunk of the Disney company all people wanted to big big drag you know all all people one knows high speed Internet connection and then access to. Like sports I think that's something people still pay for related but even that's going to be limited rated if all the sudden the casual fan. Has to pay twelve bucks a month in order to watch the Red Sox for the patriots. I'm not sure I would do it may end up being ala carte per game it may be you know but I mean on the game or or 99 cents a game and they were tough to justify owning these stocks it's really like it. If you if you're sand along and take under by Disney. Woody but how would you base your hear the tick on by the guy. How would you value a company like fox or Disney means I don't think you can put a valuation I looked at this week because you know as an investor when I look at that assets and try to value the assets and there's. They're they're important parts of Disney that easily. How valuable including you know parks and resorts which is a very consistent business is done extremely well even through recessions. The problem is when you start added up cable television is such a big chunk of the company. Then it's almost impossible to value and what's happening here various you're absolutely right it's very these futures are very much up in the year. As top opponents and that's why you have looked like JC Penney bright but it is like trying to figure out why should I buy JC Penney for years ago. Like I worry that these stocks have a similar thing. And lateral from a network effect that. Don't know short amount that gets in trouble right. Up next or talk about how you can sell your home faster. And for a better price that is our next topic from our insurer matched dot com studios. The debate over tax reform and trump terror rages on death Berrian should give the latest on how any changes may have faked your portfolio for your financial strategy only year on the financial exchange radio network. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is very Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but Pete each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased with a focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide to understanding the basics about preferred stocks that 803934001. Or you can download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth Rock -- more. Their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Markets continue to fluctuate but we'd John you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. Dow topped only fourteen points and the mess that's actually up 22 were having. Mixed day on Wall Street despite the trials and tribulations of North Korea. Maine is government shut down and did on Monday he. I don't want people don't like Paul page mood I think he's a character back either I think Andy. You know the way ivory interpret this I think he won that's all I I I definitely can do because that that one and a half percent increase in the states watching tax. Gone was the big debate. Well not only in a millionaire's tax do. Which he govern. And one half percent increase lodging tax which thinks he can easily pass through these things in. At some point it impacts. The behavior of people will like getting rentals you know like I'm not gonna pay that threatens Italy and into the numbers that go. And and the governor understood that yeah they take. People who're gonna rent from us and candy bunker wells are gonna say would this would indicate that you're always go to Rhode Island or Vermont or New Hampshire you know it's not. Like Disney World where people like go there and they just pay whatever they have to go there they have to go there I mean it choices that's a very good choices and New England so. Again they passed the deal early Tuesday. Who's the first government shut down and 26 years but it hasn't that's the good news two year seven point one billion dollar budget. The key negotiating we hear that led the deal was they removed that one half percent increase in the launching attacks wildly in. But he didn't get much ink but the three pursue the mean had had a referendum about imposing 3% millionaire's tax and the way it was gonna work is if you made over 500000. Dollars year so much route all places blame but anyway. He made over 200000 dollars a year you're gonna pay. An extra 3% income tax which is ludicrous because just in the chase. You're rich Smart people out of the state but they passed the voters passed it. This is not in the bill they're not getting them millionaire's tax I didn't realize that is a 200000 dollars that's not a millionaire tax that's a 15 of a millionaire's tax but it just it just I did it in the winging it in Massachusetts you've. They're voting on a temporary it's going to be on the ballot in all likelihood of be on the ballot next year but at least in Massachusetts that's income of one million dollars or war and then it's only tax over a million dollars to a change you know goes away the pass in the state legislature says. Well we don't get enough money it's in the millions when we lowered to 2000 right that's Internet 200000 in an expensive place to live which New England is. 200008. Super rich that you're doing okay what Connecticut did this without worked out. Yeah not very well worst economy in all of the all England. Our friends and connect. And the wealthiest state in the country. Yeah on a per capita basis. Now doesn't seem to have out but but it certainly has not worked well in Connecticut but there's other issues there. You've done a lot of traveling Alia we think the worst airports in the country. You know I wouldn't Elvis I would've today you had any place in New York. And LaGuardia was number one and Newark is number two which tells me this is an accurate survey this. When booking a trip I you know you look at the connections and a lot of flights unfortunately from Boston to connect in New York. Now like I pay I'm not doing that you avoid our goal five hours later or earlier the next day because that's just botched Russian roulette. Look Marty went into a mess and also. Look who is like constantly under construction but one we'll be built should not it and start over. If it's high though it's still open and into the party is the worst airport in the country. Followed by New York rate followed by Philadelphia. Yeah right Philadelphia's the and then Chicago O'Hare. Then Logan but slogans in the top five bogus but in defense of Chicago here it's organize there and the big negative for them was weather now. And that there's nothing O'Hair who knew what the weather in the LA is of that airport. You know prodigy go to an airport like Dallas. Has a nice our Denver you know they've got. You subsidies at nice airport Phoenix sky harbor airport Pat's real. Well Dallas has built a whole economy rounder report of the VFW it's usually only about the UW's. All the terminals and so for a partner to go on this train him which is almost like meg a subway car in fiction half hour to get one from Leo but Boston. Just so you'll know why we came in it there at number four OK while. Extreme congestion. Which we would known TSA lines that are long that's better way but but he's preaching to protect. I I don't have that I'm gonna I'm gonna try to because of the best deals like a hundred bucks for five years yet and that's the best out of auction spent if you travel once a year. And to think about Boston which most to me plans. Planes landing in a short period but it's really bad right now an awful that targets under construction tarmac. Yes a lot of flights are being delayed and they will be very through probably the end of July and Boston's busy on a normal schedule it's worse right now. Pictures it's time for trivia and we're doing trivia based on former president George W. Bush who turned 71 years old this week he's in pretty good if you can attest. Let's see in which city was George W. Bush born. Our text number is 68681. Listener with the correct answer will win. 25 dollar gas card. In which city was George W. Bush born beauty and the New England so he. But first listener gets the prize. States are yanking electric car incentives and slapping on new fees to pay for the infrastructure. Unfortunately revenues are coming in below expectations for many states so the start looking at where we cut who do we fire. They start looking at things like incentives to purchase products. And they think boy won the most politically palatable things we can do here. Is take away the incentives and they're doing that electric but the good news is electric car prices are coming down so if there's a good timing situation your berries that. Electric cars are starting to become. Rationally priced based on the economics which they've never been until now I tell you the couple years ago I bought I about it as shabby volt and all it with sales tax the whole shebang right you lose thirty. Thousand dollars. But I got 75 a solemn writing off the 35000 of them in the taxes as they use it for business rice's. I got 7500. Dollars back in federal tax credit. And then Charlie Baker gave me another 25 letters I get 101000 dollars in tax credits on a 35 dollar. 35000 or purchase that I write off of there it's a 35000. Just on its old. Good is it as a deduction is good you know plus unit and the car cost you 6002 at the now they ended march 8 2000 dollar after tax and now we've got you know the rest of the story now you do. Coming up we're talking about robots and burger joints for march or match dot Thompson's. You've got Barry Armstrong. Extra pressure on the financial exchange radio network. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance this all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number four corner Dubai zero subject current approval leader bank a step ahead. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is Barry Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but Pete each have different characteristics preferred stocks for fighting investors with a share of the company's ownership but the air typically purchased with a focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market called now 803934001. To get my free guide understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Security suffered through securities America incorporated member finreg SAP C and advisory services are for their securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are. Unaffiliated many of you listening today are probably retired are getting close to retirement age so have you taken time to think about what happens if you or your spouse get sick and needs nursing home care hi this is very Armstrong with the question what would you do if your spouse didn't have enough money to live on because you were in a nursing home and depleting your assets like tens of thousands of dollars each month how long would your money last if you share these concerns that I want you to call Cushing -- -- and they've got a new guide out this month that can help educate you on how to deal with this problem you might need a life estate or an irrevocable trust which one would work best for you give the experts at Cushing handle and a call and let them help you create an estate plan that will not only protect your assets from a nursing home but it will also help your family avoid probate and potentially eliminate estate taxes call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange show dot com. Searching for the best savings rate leader bang zoom account doesn't two point 05 AP and that's just one of the perks qualifying Zuma customers receive 1% back on debit 10% bracket featured businesses and reimbursements brother bank's ATM fees to learn more about Zuma accounts call 8776917900. Or visit leader bank dot com minimum deposit to open and an annual percentage yield ten dollars two point 03% interest rate mass residents only he's may reduce earnings rate subject to change without notice member FDIC leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. We're friends that the insurer mention agency can prepare personalized plan that gets you the best coverage at the best price -- 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 at that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more their -- for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. 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 credit approval leader banked 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 refinance all originations are managed by your bank's local underwriting processing teams for additional information call 877697900. That's 8776917. To 900 or visit leader bank dot com member of the NC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead. The financial exchanges low. Bond FaceBook so make sure like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. George W. Bush was born in New Haven, Connecticut he was born in what was then. Grace New Haven community hospital and is now Yale New Haven. And Tom from Brookline knew that he gets 25 dollar speedway gas card. Trivia contest brought Cuba the law firm of pushing and Dolan the experts and elder law. If you've questions about your existing estate plan or need advice and creating a trust to protect your assets and probate. Visit Cushing and Dolan today and legal exchange show dot com. Well we're gonna talk about robotics in in the past we've talked about how they're going to eliminate driver jobs now there's a company at a Southern California called. Miso robotics. And they have built a robotic. Kitchen assistant. Called flip the flip. Yeah the kitchen assistant called flip be it's a built they built this robotic kitchen assistant. To do the hot greasy repetitive work of a fry cook. They employee machine learning and computer vision to identify patents on a grilled track them as they cook. And then place them on a bunt when they're done the impact of this Barry is we able to jobs that involve. Cooking. And all those jobs are imperil some of them they're pretty Betty but if you're a good sheath. Right or good cook well I guess if you're really good show yeah I have your own restaurant right that that's your your probably your objective work to at least have equity Austin restaurant. Also I can't imagine the flip he would be replacing like the courts and the chefs at like high end restaurants. But I born or physical or fifty dollar a plate no more morphed kitchen work I suspect will be done on it on. It already used on we think when you go back into the kitchen and you look at the mix masters and all the shopping devices and make a lot of it's already done. There are 2.3. Million cooks. In the United States some of those jobs are going away. And we talk of a churning up things like pizzas life is cocktails frozen yogurt salad these are dogs figure out how many of their jobs they can replace with robots they've already got it where. Unity go to Starbucks. Panera. A triple A McDonald's right and a quarter on your owner order electronically. Now your food might be be made by computer world the same thing I suppose. And the higher minimum wage is definitely pushing this schedule ahead I think McDonald's is way ahead of where they thought they'd be. Yeah yeah the minimum wage today they would happen anyway yeah no doubt is that like nobody's. If you one of our listeners he was Bob. Said Leah picture of the McDonald's restaurant with. Sign in the window so it's starting salary starting hourly wage sixteen dollars really. While Don yeah I mean so the thickness of one that is obviously an area where they needed help but yeah I was in the in the New England area. Well the jobs that. Will continue to exist. Will be more involved important jobs. We're building oversee a lot of these computers while the robotics and making sure that everything is okay and be some people but fewer people by far fewer people should be more. Few more people making sixteen dollars an hour but a lot of people make in nine or ten and knocking their jobs. And operational guide to light the states vs durable global trust how would you rather protect your home. From the nursing home that's the title of a guide Cushing in Dolan is giving away for the month of July. And you can receive your guide by calling 866848. 5699. Almost all of July and a lot of people do. Like the State's job as a free not to pay to do it but because capitalize tax problems so you might save yourself. Some money in legal fees you will if you don't like to say I can promise you this. You're heels you're your mom your dad or save some money in legal fees you know cause huge problem for your kids that. That's that's why they created this guy I want you to. With a guide is suggesting. Is ultimately when you go through the thought process of this you'll probably decide that are local trust is a better way to go in doing like the state but read for yourself. It's available from Cushing handle by calling 866848. 5699866845699. Or you can. Do you can download it at their website legal exchange show dot com to get that free guide proportional. China has cut their use of dirty coal by 40%. According to wood MacKenzie. They had yet Andy you we we talk about the the need to you know reduce pollution and to do what's right for society. China some countries. Reduce pollution because. They have to because they people literally can't breathe this is the problem in China is. There are cities that are that are just not help that you walk into and a few of them has made you can live. So they've got to the point where yeah. Dirty coal is down 40% in the last six years what a reminder about 40% this didn't get a lot of media attention one way or the other. About. And Tennessee ten years ago China. Embarked on a joint venture with Russia. To develop natural gas the Russian natural gas natural gas fields and Russia didn't have the technology or the finances to development. And each partnered with China by the way they're getting very cozy with China yet the results up or other issues yeah but. There are Smart rate they knew their kill their people do lose something like thousand people a day in the major Chinese cities dude air pollution yup. And I think losing out of me like they got lost and and then on the whale about and they died yeah if they couldn't breathe right and this is another issue talk about that London fog starter in London fog story from the 1950s yet. The only chorus like 101000 people. And so China really has it's back to the wall here and it's like okay if we're gonna have a real economy forever real society and particularly in the the problem is in these areas of growth withers industry. That's what the problem is worse. And so they see the need to reduce the use for example dirty coal by 40% which they've done in the last six years. They're really turning to alternative fuels. In an effort to really save their society pave the way for future growth and the other issue as you said and you've got these three countries the United States China and Russia. All three of us know whoever's paired with the other is going to be the country that has the power. We know that if it's a for Russia. China is that issue. China and those with its China and Russia we've got issues. There's a real serious struggle going on here in this is something that I'm glad I don't know if the deal with personally. Imagine the unity you talk about China dealing with the air pollution problems and by the Indy. But I was looking at a lot of the really. You can look at this online folks the list of the cities with worst pollution problems many of them are in China. But the top answered in interest in and that it and they are not do that there's a burning coal in the U whatever they can. To create their electricity and they have an economy is just again dealing with a lot of growth pains because it's growing so fast so rapidly. That it's very difficult for the country to keep up from an infrastructure perspective from managing pollution perspective. Managing inflation but inflation problem there too so they have a lot of growth problems associated with a very rapidly growing economy. Up next we're and talked to Warren Mosul there. About the slowing US economy is gonna provide us with some evidence that the US economy is slowing down that is next from our insurer match dot constant. It's a battle over trumps economics continues to affect the market. Get the latest info on the sectors that are winning and those that aren't right here with Berrian jock on the financial exchange radio network. 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 digitized 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 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 BDO at liter bag dot com for more information member FDIC equal housing lender. Or you can download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes -- you'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 late you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth Rock in more. Their license for all types of insurance and continued time stress the money we've just one phone call and one relationship. Call today 844 of 99 match or go online and ensure a match dot com. Security suffered through securities America inked a member of finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Get the latest on the economy from CNBC's senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. This segment of the financial exchanges brought to advise you read it you're landlords take advantage of the rent it's a fully automatic on the line right collection tool. That is free for landlords with an account at a participating bank and always freak for tenants. Sign up and have written checks deposited directly into your account. Call 8776917900. Or visit C red dot net for more information. They're two economists. That I pay attention to what has Larry Kudlow who joins us on Friday the others warn Mosul or. Who's my next door neighbor and we spent urban time together. He thinks Larry Kudlow had told us on Friday that he thinks the economy slowing down Warren agrees we weren't welcome to show our. It. So war let's talk about the economy slowing down Larry Larry wouldn't dig into it on Friday he just said. We need to get this tax reform bill done because he sees evidence that the economy slowing down. You track this stuff on a very. Minute and I'm very statistical basis what evidence do you see. That the economy is slowing down what gives you concern. You know I see this slowdown in the growth of bank went to this started. Yet the 2014. Where epic collapse had a discussion shop but how. Could be don't offer that we get on a modest. Counsel continues council of percent including. Duplicate numbers where the rate of growth could play has been decelerating and mystery are. Lowered the price at all the certain. November. The slowdown. Accelerating you know. Two car cup Morse the deceleration in it. Like you're always going down river. All the critical while. Right so bank lending is slowing down and that gives you pause for concern. There has fallen like. 28%. Or percent. 2% heavier which Terkel went in its politics are just public business lending. And Lindsay. Are lending yeah. Realist I think the commercial and residential. End as numbers have started coming out they're all disappointed. At the downsides. So what happens after that warned again if these numbers continue to decline is no reason to believe that auto sales are gonna pick up or her sails right is that nothing. Nothing I see that tells me oh auto mode auto sales are gonna pick up in the hunt for. So what happens after that do you like are you concerned that we sliding into recession and how long does that last and how deep does ago. He ought you don't look at I thought it was inevitable that sliding into recession last two and happier suggested that when we won't want to go down hill. I just like to six excuse that he replied don't feel too bad. We've been in this slide at these types of the credit collapse as it is now. The collapse of spending its port 500 billion dollar in 2% of GDP war and if it. Normally there outlook there would every get this kind of credit collapse before he didn't respect. That you find out extra I think downward. But it doesn't look like we're we're one point 4% GD PQ. One and Q2. Who knew what you what you're giving you assess an estimate for Q2 GDP. Are they put it where you're dealers and after so yeah yeah a little bit again that could be are. We could be. There are certain things holding GDP. Count. Premiums for health carriers TK okay you know even though the government. Whatever some talk a personal consumption. The government went puberty. Typical person but so. Go credit crisis company's group right now where it just so little water there and Larry's. Don't worry also. An hour or. About the Arctic feel mark yeah but. If they get it doesn't turn around until. Which called deficit spending borrowed and spent. Wrote about tactical what did what did he get tax reform went like it yet. Because they carry out looking for like the health care bill gives shelved potentially. And they and all they do is jump in to tax reform and they make it ritual in the nation's leaking then it's gonna be retroactive to January 1 of seventy. Yeah so if they do anything to increase federal deficit we're taxed less horsepower and more public less. This support credit expansion and somebody spending more literate can government that actually works. But on the other ball players some of these tax cuts there talking about. Not much that's gonna turn to spend so you have to do a lot of I don't think you have the stomach to adopt it. Why would summer tax cut why would some tax cause more spending than others wore. Well they don't you personally. While our. And what do you do you think it is our taxes and subsidies. To. Appeal to the world should do it architects. Now with a little bit which. That's a record. More that I ordered to what extent they'll hmmm hmmm how much of this is deferred spending a lot of people holding back with the uncertainty now with the tax code. With suspicion we know business investment is being affected by this to what extent. Could we be having the temporary pause here that there should come back in a renewed spending next year with lower rates. Well you don't normally do know is. Quote Kemper open result of lower at lowering them don't have income to spend next here they are. So Pete Stark and so it looks. They're very upstanding notre recessions that are laid off that he can back top political. Which start going down. Private sectors political process to start going go or don't support. Expect losses start or a little bit that they can't go public even more accurately. We saw that starts the downward spiral out. Right we saw that would June auto loans. There loans are down but the credit quality was up right. Obviously you don't then they raise credit quality good on the economy yeah yeah that it happens every cycle and normally the way historically Michael Turner is. The private sector can't do because of ticket going down can expect extra load of bad economy just to. The optimistic the optimistic side is that you can't have a boom and bust without a bull. And everybody predicting a recession is missing one big ingredient which is there's not a boom to recessed from. You can account for. But what about there's not a Texas and Texans won't pursue them. It. Goes out. Archery at all of the united force. You may not be a big difference between a 1% growth economy you know minus yeah dissension if I graduate may not feel the recession that is going to be a lot like 1%. The yellow and. Corporation. At the top point grow to. Corporate America. Driving to pay this quarter was beaten expectations 90% of imports beat on revenue. That's true. Set the bar low and keep the economy solve the public opinion you know. It got a job at the party and our economy. Like two years graduate debate. Take your after the company retreat and goes public to accept our soul and dictation. A group that. Thanks in no plea deal turn around after. Somebody's deficit spending goes private sector mortgages cars business investment that it is unlikely slowdown. Government which is normally happens historically through all tax revenues saw the CBO you guys down. That's a very very time. All right weren't we gotta run but thank you very much for your time. Picker Warren Mosul or economist. Author you should read his book if you have a new school warned both Hillary can pick up his book it's it's a good read. The be the point you made those job very poignant. It whether it's a 1% growth economy or minus 1% economy not gonna feel a lot different it's not like the old days we went from a 7% growth to 5% decline rate real formal 1% growth of 1% decline level recession you'll be like. What's the one that can feel as if you're not what seems different and examine the the market today let's see what we're doing years it really first day of treating me and even the trading volume I tell you all week for us. The volume is going to be very light. It is only half a day on Monday yeah really 400 million shares in Dow is down eleven. Points the S&P is up one. Oil is down the big story this will be tomorrow pricing war it's down three and a half percent one. And the NASDAQ is up 26 points. John Moody will be filling in for talks a lot of the remainder of the week my name's Barry Armstrong we broadcast every day. From our insurer match dot com studios. With the market continuing to be highly volatile I'm sure a lot of you are refocusing on the types of investments that you're making hi this is very Armstrong and I'd like to talk to you about preferred stocks as an investment tool there are two types of equity securities common stock and preferred stock but they each have different characteristics preferred stocks for five investors with a share of the company's ownership but the air typically purchased when they focus on income this means that the stock's value can fluctuate based on the movement of interest rates rather than the movement within the stock market call now 803934001. To get my free guide to understanding the basics about preferred stocks that's 803934001. Or you can download the guide right now at financial exchange show dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plan. Insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered well so they get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like Orvella Plymouth rock and more. Their license for all types of insurance can continue time stress the money we've just one phone call and one relationship. Call today 844 and 99 match or go online and ensure a match dot com. If you're real estate or property management company Unita banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitized 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 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 -- leader bank as they're banking partner or call 8776917. -- 900 or email BVL.