WRKO>Audio & Video on Demand>>Full Show 7-21-17

Full Show 7-21-17

Jul 21, 2017|

Full Show 7-21-17 by The Financial Exchange

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

This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Did he move her own season seven premiere of was pirated a staggering. Ninety million. Times and most people consider to be a victimless. Crime collect insurance fraud that we seems to care about pirating I care television series. Everybody it's very shocked and I I was shocked. First of all I I didn't think ninety million people could care about game world that is that a global Bloomberg must. If it is a global number and I'm shocked that you have and I'm not shocked as I guess and just kind of disappointed is still love them much piracy that goes on where people don't want to pay. For the work that content creators have. You know done it's it's like walking into a State Council grabbing stake. In not paying for sure this they've heard for so. The stoning in under really for I I don't really understand how you pirate something and I turn on my television market the darn thing works. We witness involved. In pirating lately what is this whole thing about pirating Jack ally knows. I called direct TV and maybe I have you know like cut channels out of my package sounds like people are getting television. For free I remembered in the old days is that cable box or east you guys are trying to get free cable climb up the parole. Don't try to connect to the king a lot of it was to get elected doing that yup that they they did work that goes back in the seventies they used to hear ya that. But what is what is this pirate put. What happens if someone goes and records show and so they store the show than on their computer and server somewhere. And then people go on line and one way or no they find where that it was stored and they go watch the shows that they have not paid. Soul in this instance the television show is called game of the world. HBO owns it right. Eight field. Well all the lights all the licenses never market in the produce staggered stated an HBO does not pay a small amount but there's the the sixties in the one before this was estimated to cost them 120 million dollars operatives that's less than. Do you have 120 million dollar dollar has had to say it's less like I don't a movie because I guess it'll feeder here right so the news that they invest the 120 million dollars HBO exactly and so you figure being pirated ninety times HBO charged fifteen dollars a month we'll take it you gotta come back the slowed. So some. Somebody records yeah right. And I put it on server somewhere to get it in process to get to how to lie just download the ego to you again it slowed down. Here I don't know how much slower go well evidently they. Both slower and out to someone tells you go to this website you can see it on downloaded on what poll my PC and by whatever you wanna watch it on whatever device you. Want to rule I used to watch TV ironically network TV on my TV. You don't have a hard drive on TV so that's not a war. But so most likely your laptop warriors it's usually your computer tablet or something like that you go and watch it and so this is all illegal. It's all legal and diplomacy you run the numbers okay. And if ninety million people did those those are people who otherwise would have had to pay for even if you assume that 10% of them would have been okay. 10% let's call nine million people at fifteen dollars a month. Pretty much pace for one season game thrown it is very risky you know like I think it is here I've never par today as I swear. Just as nowadays you know obviously I have one of irony is that he sends it with as a top you know no no one's ever gone after these people. There aren't that whatever they did with cable TV that was like a big thing for the that was harder to do. You know that was that was you have how go again. It is easy to do this is not a million people who did all cases it yet. But are you running some kind of risk when you do I think so a lot of my friends don't think so only time they've hired every only if they come after you. I just think from if you look at what it does from a social perspective okay. It's no different than me walking into a butcher shop and grabbing state without paying for it because you're taking the work that someone else's Dolan and you're not paying for that work. And I'll be the first to admit when I was kid when I was 1415 years old via a download music without paying for Nawaz bill I figured out on Napster and is on all of those I think I definitely it off. You use it you do it. You both Canada and and and there's no doubt about it and I was dumb and I regret doing it because there were people who spent a lot of time and effort to build those products and I didn't reward them for that and so. I take a pretty strong stance against piracy at this point just because they see what content creators have to go through May the content that they produce why isn't it. Like YE a Time Warner which owns HBO was a big company yeah why don't they do more to combat. How do you. I literally agent but it would it would seem to Woodward unified enforcement to rest ninety million people. I pattern OAA it just seems like the cable companies did it. And in the cable companies I thought were pretty aggressive and in their position on this. It and it can't be that hard to figure out who download the movies that show in this case illegal if if you want to actually. Make a dent in it. What you do is yet to make the cable companies liable for this if it's going across their networks. This pirate right sill OK there you go so let's say I'm using Verizon files. To download Verizon must know that I am doing this absolutely good luck getting that. Bill through congress is married yeah with with the Telecom lobby not a chance but that's that's what you would need to do effectively. It is what what people have tried to do. Is the news some of the things that they've put up previously. There was the Stop Online Piracy Act a couple years ago which was pretty much a complete joke as far as what it was attempting to accomplish. But what you need to do is you need to make the telecoms liable for data coming across the network is that the only way you can do and anyway a lot of us don't understand. This whole piracy. Concept but it's. Expensive. It's cost it and it ends up doing it those of us who are paying for HBO rate probably pay more than we should have to pay up if people weren't stealing. Well and and again it's. I don't know that necessarily makes people pay more I think that it would just be yet people you know big you wouldn't need to pay more there's no alternative you have to pay for HBO to get him thrown so there's no. You know in the count to almost as if were or people stole it and then actually watched it. Who legitimately pissed if I probably about even with. I think the numbers chopper went in we report earlier in the week it was like sixteen million people that was just in the US though. Old this is this globally. All in this this show has global appeal oh this this show was not filmed in the US this show was filmed all for in Europe all for days late. It is massive across the words in the English language that. But usually where they do wolf filming and everything you know and it's it's always interest that you're seeing where they decide to film is they pretty much. It's one of the most complicated shows produced as they film and for five different locations simultaneously. As they're doing this it would a game of pearls is the show that we're talking about folks I I'd be curious how many people who never heard of it generational. I am guessing this is the younger person's show is is better I think it's a show that everybody is aware of at least aware of an old ya that your mom I had watch it. They don't want Japan they know what it is ironic that so when they my parents for staying with me over the weekend and they they watched the first new of this the first episode this season was that it never watch they've never seen before and they they left saying that they were gonna start watching and they go home. If they like this up they had no idea what was going on but they said yeah that's really dwelled on what wouldn't we want to. I feel like you have to be living under a rock to not even actually hear of trio one paper The Sopranos impact. And I've I've heard of it is ready exactly I egged it and you guys in your description of it. And I have viewed parts of episodes. It just seems so far it stood in Seoul. Feel like this and yet you have an open mind you know but. Now it's entertaining it's great story lines great characters it's amazing show dwelled on and on some I haven't watched until last year and I got about the best thing out there and avenged that yeah. GE shares quickly GE shares to take in the tank and we care about G now because there Boston based company you're down four point 4%. CFO giving very negative guides from. And this is I wouldn't be surprised he continues the little more of this as an avenue CEO coming on board. Ian. Was it October I believe that it's going to be they said that this was in belts last call. Yeah and also I would think if the EC new CEOs pricey for Iran in the deal now I still think you can have growing pains the next six to nine months yet because he's gonna have to get his people in place to what they where they want to be for what they wanna do. I think you're probably looking for a company this beaten. Nick Summers where they start to finally turn the corner thing you know news you know that he immediately a lot of next G ears that listened to show. With the dividend yield weigh in three and a half percent months. Yeah I mean it's it's what I've sustainable. You know we have that. Beauty you know the companies going through this unity they've got a lot of exposure to two sectors you have to be worried about healthcare right if you worried about health care and energy. Yeah I mean that their health care side things they're not on the drug side as much so I'm not too concerned they're more. You know things they're making MRI's technology and devices and things like that so I'm not too concerned about their health care unit just because it somewhat insulated from the the conversations that were happy elsewhere on health care. But there's no doubt that this is a company that is in transition right now. And they're gonna have to continue to gets over the gonna have to continue to get more nimble. And if they can't they'll be successful maybe a year or so from now but there's some big questions on that execution. Do you know anybody who has a private student loan. Now the federal student loans those are the ones you get through the government but there are private student loans that many. Students both undergraduate and graduate had taken out to pay for their college education. Well if you do make tree pay attention to this next segment because some of those private student loans. Maybe be wiped away you may not have to make payments on some of those private student loans. That is our next topic we'll be joined by Stacy Cali New York Times next from our insurer match dot com studios. The truth agenda stalled. Bearing in shock of the latest every day beginning at ten only on the financial exchange radio network. What are the most challenging aspects of -- life planning his understanding how to protect your assets from the nursing home if you've worked hard and have accumulated wealth don't let those assets being drained by an unexpected long nursing home state hi this is very are strong and I want you to know that the experts at Cushing and Dolan can help you they've got a new guide out this month that will help you create an estate plan that not only protect your assets from the nursing home but it also helps you avoid probate and potentially eliminates the state taxes where do you need a life -- or an irrevocable trust Cushing and Dolan can help educate you on the best course of action with the least amount of worry call their office today at 8668485699. And ask for your free guide don't -- or spouse by a lengthy stay in a nursing -- protect your assets now to ensure a sound retirement 8668485699. That's 8668485699. Or you can download the guide right now from their website legal exchange showed dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes here you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered who also dig out all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates in carriers at 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like Orvella Plymouth rock and more. They relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Call today 844 and 99 match or go online and ensure a match dot com. Very Armstrong here and I'm joined by the vice president G tool from leader bank. We're talking about zero rent. This is exciting because zero rent is a method for landlords to collect their rent electronically but there's now. Find refining. All right so zero rented the product we invaded leader being. Comedy can be found it WWW gutsy rent dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic mechanics. So there's several managers first you can 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 this really a laudable and it was don't even have a checkbook we're getting that all the time label call in and sign up because it's ten and saying you didn't checks the it wears this really starts to get funnies when you if your landlord and you have. Multiple tenants living in unit case grad students the university. Well right now they're all writing multiple checks and sending them in and throw in orbit source become confusing pain in the neck. So would you Reynolds who's who actually deputy each tenant can individually that you intend one payment for that unit to landlord. And then of course there are some reports in notification that all of it rates up. But going back to your question about Condo association's a lot of Condo associations have been using human 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 Condo. I'll be darned well sounds like a 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 87769178900. Why collect your rent or your Condo fees with paper checks get with the modern age go to see rent dot net or call them toll free 8776917900. Security suffered through securities America and member finreg SIPC and advisory services arbiters securities America advisors think carry ons from representative Armstrong advisory group in the securities America companies are unaffiliated. Armstrong. Bringing you the best in the business and financial news every day this is the financial exchange radio network. The New York Times one of ten papers I read every morning and I saw this headline earlier this week. As paperwork goes missing. Private student loan debts may be wiped away it was written by a friend of ours Stacey how we from the New York Times and she joins us now on the financial exchange I stay sorry. I get it could be back. So Stacey. How many borrowers. Could get some of their student loan debt wiped away because critical paperwork is missing. And it's important that we point out this is just on private student loans correct. Yep this is just on private student loans that it relates specifically to learn held by entity called the national collegiate student pilot shot. They hold boat for about 800000 borrowers which total about twelve billion dollars that go to the pool of loans that are potentially affected by the issue. You sit twelve billion. Our very liberty and that's a drop in the bucket let relative to the one point three trillion of total student trying. Exactly this to the comparatively small portfolio but they I would have the largest holders of private student loans. So if I have a bomb in that 800000. Person group is that 800000 individual people that have. Or is it 800000 loans in some people might have three or four private loans. Believe it's 800000 individual violates. Well while. So how did they become so large this now because I've heard of them until I read your article. No one heard them until they get beat by them because they don't originate and you and themselves these loans were originated. Generally between 2002 and 2007 by banks like JPMorgan and Bank of America. At about a dozen dozen other banks the people of Poland we know bank and the bank told them to the company noted that at the national statement shot. Package them together in the securitization pack. Let's just I don't. Stacey that sounds familiar doesn't it. Isn't exactly what happened with the mortgages. So let's just mortgage sync with the mortgages in a lot of those were dismissed because the banks did not come up with proper paperwork is that what we have here states. That the total they dovetail with exactly the same kind of issue we were seen there. While well so when they let national collegiate sues. The consumer for nonpayment. They end up going to court how to the judge's rulings would it would as the judge what the judges saying in court. Well what's happening at the island I would give it an awful lot of them don't by the department down national collegiate definitely note it's going to win in a very large number of those cases by default. Nolan going to challenge them. When violet do you I'll talented. Often again can you really hard to prove it's complicated issue but the lawyers to military doing on this. Will caller the question in the title issues they'll say hi crew below that that give at the paperwork to do that and over and over and over again you can't that we need that there is a missing link in the chain and they can show that the debt and it's not five but advocates note. The last laugh. And again as a complicated thing and I just don't like what they're looking at it certainly seen cases where they didn't get that now looks like they'll let you know they can keep it. But in a growing number of cases judges are recognizing that hey this isn't what it should be and we've seen at least if you got and that had been dismissed and we expect. More immediately now that the out there. So what are my odds if if I have a private student loan and national collegiate. Trustee called net inadequate at this earned OK okay if if there my service or what are my chances of getting it dismissed. Think hearing that the generally only becomes an issue like didn't default and once they get it for those who are actively paint their islands but the thing never usually come out though that the tactic but put those who do and that. Getting is that you can't make their payments that the following behind if you challenge it the other pretty good because it's not easily doesn't wanna litigate the case. They look at simply dismiss them. No kidding so let them regulate it or not they often. But ago. CF 800000 people that. Could be big beneficiaries of this. The people who think that they might be involved that's when contacting your servant sir the service that the service and get back to learn that called American education services. If they're your servicer and you have a private student loan it's worth calling them taking their website and thank you pay loan by loan into the national collegiate round. We aren't will be darned. We used to get a lot of traction on. Story we've certainly heard a lot of violence with similar Dorian. If any of this happening with federal student loans leg and just thinking of like the ones that my son and he has has been little that he took out. When he went to college and the. Yeah that's the issue to a looking into that the major changes at a landing and he hadn't and you look at that alone Clinton made by bank guaranteed by the government pre 28 and a lot of those loans. Where open the the one of the things my according partnered up than the other Greenburg and I are looking at right now it is he that you didn't in this prix 2010. Federal land. Tony can the government directly make upload to hold on Xbox now you don't tend PD but retain the title achieved there. Well but the the people that are most likely to have a potential. Victory here would be loans that were taken out between 22 and 07 correct. It's twelve billion dollars 800000 borrowers and what was that was American education services. That's the name of the service there yup. And then you would at seed go to that website and then you would try to find out if it was brought it if national collegiate student loan trusts was holding the paper right. Ireland to a service by American education benefits can call the service. And say hey who Rhode Island. Great Stacey. As always great reporting day I think Tucker has good speed dial. Up thank Stacy appreciate. Moral hazard here they like you massive. Massive. You know does it's effectively saying hey you might be able to get out of your student loans because someone else messed up. Idol idol that they're not just that eight are just to bring the story deaf to the people write a you know then again I guess if they're so bad it actually do the paperwork required to make that transition and so as a write in updated if they they didn't pay enough to DOT handle the back in the right wing keep track of which loans were aware. It's on them the private student loans had the same protection in terms of not being forgiven right. I'd have to check and that's where you can't believe so and I'm not usually flush a private student mold like. There's certain debts you cannot flush in bankruptcy. Trial federal student loans he certainly cannot. And privacy bulbs you you can't flush those in that that's one of the reasons banks are anxious to make those loans. Is a no and the rates on those I don't know if you guys have looked at the rates interest rates high you know 78% in a lot of cases. And that's that's why they wrap them up and sell their valuable c'mon there are certain private student loans actually can be discharged in bankruptcy there I don't know which ones. I'm gonna read into it well let you know after an expert. Coming up. We are going to have a trivia question for you now are our topic for tribute today is Robin Williams Y well it would have been. His 66. Birthday today so we're going to be doing trivia questions about some of his best known films. The the only way is that the the private student loans can be forgiven is pretty much if they were made. Not illegally but not for the purpose of actual education like for one so if for whatever reason they were given free like housing or something like that. Markets down doused down 46 points level full market update for you next. From our insurer match dot com studio. Making your Smartphone even smarter. Don't know mobile lab by surgeons financial exchange shelf in nineteen Jordan who. Place door. This is the financial questions 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 -- we've zero and leader banks all my recollection tool he went automatically deducts tenant's rent and deposited into your account visit WWW. Dungy rent dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 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 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 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 to. Juries are for two securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home -- 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 war also they get all the discounts preferred customers like you can qualify for Collins sure matched to compare multiple rates in carriers at 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress than money with just one phone call and one relationship. Called today paid for four of 99 match or go online and ensure a match dot com it's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing calling 776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Time now for. Street watch a look at the market's performance so far today but I do Berrian jug right here on the financial exchange radio network. We're now joined by Mike Armstrong here for Wall Street Watson Mike thanks for coming on. Might see more earnings today let's let's get right into it GE down about four and a half percent in early trading. What they show. Yeah really just getting beat up they actually beat estimates they had earnings of 28 cent per share which -- above that Mets and the revenue again beat forecasts the big issue here is that revenues exceed down by 12% a year ago and on the earnings call the CEO did some pretty negative guidance around specifically their energy sector just the difficulty that they have in that specific marketplace so guidance for the rest of the year it is not to get. On the other side we've got Capital One Financial now all about seven and a half percent big move up for them accompany that'd federal. The struggle the first half of the year would they show though. They did so earnings and one dollar and 94 cents a share that was above estimates that revenue beat forecasts as well that it would he saw as a big stabilization in new loans they rode up some more of the bad loans and increase the mind set aside. Cover future bad loans that really saw a lot of stabilization in the air or that Alonso less concerned ongoing about back quality loans being made by the company. Another financial company moving in positive territory E*Trade up 4% today what's the word with them. Yep once again BS that's by force sent coming in at fifty cents a share that product 41000 new clients and they announced that billion dollar stock buyback programs as you mentioned stocked up almost one half percent. Actually we've got a whole list of another set a big ones we've got the alphabet Serb Google parent company reporting three yen McDonald's bowling FaceBook all coming out next week so lots more on the horizon. Good Michael gets over the next week then. Michael Armstrong with Wall Street. Time for some trivia related to Robin Williams the late Robin Williams who would have turned 66 years old today. What is the title of the film in which Robin Williams played an army disc jockey. Mean Adrian crow an hour. And you will win knee the first closer with the current corrective to win a pair of Loon Mountain adventure passes. What is the title of the film. In which Robin Williams played an army disc jockey named Adrian Kron our. And again our text number 68680. Should you care to participate might be one of the best movie roles for any actor ever. All right oh yes or sought. Let's talk about seers and ten more yes yeah day we broke this news during her show. That seniors had entered into an agreement to sell their pin more brand on Amazon. You pooh poohed this view did not think this was a deal of significance. You may end up being right but I tell you shares in Home Depot. Best buy and lows all crow well they all went down. Here with apparently. Seem fairly significant losses because of this announcement. Yeah I had I don't understand it I just I don't I don't get it. Like who first of all. Ten more I don't think that there Abe laid it up the biggest player out there more appliances to. You know you talk about the brands that a lot of people look at for things like washing machines and stuff like that I see a ton of LG and Samsung there's these things okay let me give it an instance where I think it could come in handy in. You know you're living in the city. Right and you can go on Amazon in order your can more washer and drier from the people living in the city have to do that though. You look at most people in the city they're renting and buying their own style popular and and condom but that's the minority and most people don't know their place in the city. Most people I'll pull ups and yeah even in the suburbs. As you're working couple you're living in the suburbs. You're if it's Sunday night in your dryer. Dies right decision that when I'm not working anymore and and repairing washers and dryers and dishwashers and generally doesn't make a lot of sense is because the cost of repair. Is he can often exceeds the cost of the new implies a in some cases especially lethal yet twenty year old dishwasher at things go right. So you go online and you say on an order Mike and more dishwasher and I want it delivered on Thursday. And or want it delivered on Saturday some home and second install it I think. The people will buy back then you don't you think it will buy that a line you feel like I already bought my part clarity bought washer dryer on Home Depot. You like Home Depot dot com that's horrible my washer and dryer in the Amazon gets what 50% of all new online sales. But that doesn't mean that they again I went Home Depot to bottom you know. They told people.com. Yeah I just I just don't understand they get was acting like this game change sometimes that you're going. So new stock market disagreement. I know like I just. I just don't quite get it I guess I mean people are vet betting millions of dollars yes. Sears holding finish today yesterday at 10% I just best buy just give you the numbers say it in and and I at a role in the so I don't have. A horse in the race but. Best buy down 4%. Home Depot down 4% and India those numbers. But those who was down as well I mean that's where people buy that stuff. I guess I just don't wait did it you know did doesn't quite make sense for me any particular offense and data that kind of reflects this of if you get. Each of people in the the appliance brands they tend divide you know OK people aged eighteen to 34. 45% of people in that age bracket. Go to Samsung appliances first 37%. Go to LG and 21% go to ten. No okay. That's pretty much reversed for people 55 plus but those people to their shopping online for appliances any of that trip that I do more and point drop in the and you might it might. My wife buys everything but there's death. There's a difference between buying and clients online in buying Byrd's seat I would buy and plants and I've but I like your article you can what you are the exception to the rule you'll an electric car. Exception. I think you're absolutely. You can hear that most Americans do not do like you own an electric car you've tried online grocery shopping most Americans haven't done either of those 99.9. Percent of Americans don't own electric car. 90% of Americans have never tried to buy groceries. And thank you you are far more technologically. Adept than the average American I know that's shocking to say thank you and it accurately go to write that down to the power of them out of my mouth you set me up for that. I hate guy I want to talk to you about leader bag I've been a customer there for years and arrows coming up with great deals and here's another one that you should look into. Leader bank has just launched an. Providing free on line banking with a one point 15%. Annual percentage yield. You can sign up online right now leader bank dot com there's no minimum belts required. And this product is only available. Through their website don't lock into what their branches. Walk in you can go online and leader bank dot com to open an account this rate is effective as of July 18 so it's been forced few days. And may change without notice yet free online banking with leader bank's new. 15%. Annual percentage yield no minimum balance and remember. This product is only available on line to log on to leader bank dot com right now that's leader bank dot com we're bank he step ahead. Member FTSE no minimum balance. Fees may reduce earnings rate subject to change without notice and may change after an account is open. OJ Simpson. And more retirement income bouncer. Eat it appears that he might have a nice pension coming from. From the NFL to penny that we don't know if he took it yet or not so we don't under a record it's potentially as much a 100000 a year if you waited until age 65 start taking it could be a little bit less if he didn't but either way. He's gonna have that pension income that's coming in to him now that he is out of jail at this point he also has five million bucks that he deposited to a sag. Pensions the Screen Actors Guild. He put five minions that in the yeah there's some there's some talk that that might not be available to him just because you still owes millions of dollars fifty million to be going Goldman and Simpson's family. That's absent but Goldman the Goldman and you know Lou we'll see you know be if indeed if he goes to work he's not yet pending. Do you think he would would hire him at this point and I knew there was some than those some report that I don't know who leaked is probably his side of things that he's arrogant swamped with offer rhetoric or reality TV show the I would think that will be. Interviews reality TV like our car nationals in America commercials in America CD kills someone and then have a reality TV show that puts your story exactly does not Q&A Wii was found not guilty as the US West Fargo area but if just look at all the time in the day and look let's say he's not you'll have to say that was the verdict. The news even news analyst. Are you they're trying to find the real killer. Why is the US dollar. Getting weaker will be joined by Larry Kudlow the next segment I can do about that the weakening of the US policies king dollar guy like this. That's next from our insurer match back on studios. 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 pass before the end of the year and keep it here with the Berrian chuck for the latest on the president's agenda and how the markets are reacting. This is the financial exchange radio network. Hi this is very Armstrong and if you're a regular listener to my show you know that I've been a long time customer of leader bank I've been doing business with them for years because they're always coming up with great deals and here's another one that you should look into leader has just launched in east savings account providing free online banking with me one point 15%. Annual percentage yield you can sign up online right now and leader bank dot com no minimum balance is required that this product is only available through their web site so log on right now for more information at leader bank dot com this rate is effective as of July 18 and may change without notice get free online banking with leader bank's new. 15% annual percentage yield and no minimum balance and remember this product is only available on line to logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Your financial strategy has to include a thoughtful insurance plans and 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 that 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 go to all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates and carriers at 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Laker bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. Hi everybody it's Berrian talked 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 if as it applies to the use of the medic and a light the state so let's say. I Cree I. Do you buy house away I give it to the kids. Does that five year clock start taking if I'd 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 oh absolutely it and that's the definition of elect's right getting 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 light Tenet but 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 either into the light the state arrangement like you mentioned very. And also too when they make it's 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 transfers and including. A life for state arrangement so yes I thought the folks Cushing and Dolan is making a brand new guide available in its very helpful for those of you were thinking about giving your house solely using like the state compares. The advantages and disadvantages. From a life estate to a herbal will 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 of the carries brigade. Log on to financial exchange showed dot com and sign up today. The number of euros they can be obtained for one dollar has declined to the lowest level in more than a year we're joined by. Senior contributor to CNB CMR Larry Kudlow and a weekly guest on our program hi Larry welcome to the show. Thank you very very you. Good good so. Weakest level view the dollar weakest it's been. Verses in the British pound the yen the renminbi and the Euro in in more than a year. You're king dollar guy why is this going on. Well you know. Sometimes these currency comparisons can be a little bit misleading news. There's a certain degree of optimism. Coming out of Europe there product. Although Girardi. Did not say they're. Start tightening anytime soon rather lavish central banker ECB drug. I think that what's going on here is. Measured against these foreign currencies. Whose underlying economies may be may be looking a little better. Out of this girl but outlaw country here on CNBC. And so investors auto and that there. And maybe you know the uncertainties about the actual form here at home. But I noticed. That dollar relative to commodities and gold. If not all worked there yeah I'd like it yeah a lot of indexes are going nowhere. The breakeven inflation is going nowhere. Gold is going nowhere as big and arrange for several years so you know I've. They say they're currently be overseas currencies and economies may be getting better and it's more of that than the fact that we are getting worse that's the way I'm reading it right now. And there are some American companies that benefit from a lower US dollar they're not. Well I don't believe that theory out. No country has ever devalue its way into prosperity so bad that I argue and I will continue to argue that idiotic I don't think that. You are right. But it no longer range longer terms cents. Merit companies will suffer the dollar it's wrong because all the all the imports. Raw materials. A rambling kind. Processes supply chains you know that that becomes ports back through troop and therefore their profit cocoa down. So it is really short term stuff right now and again if you if I would argue if by the end of August. The middle of September. The trumpet and a and that and that who falls. There Republican goof balls on Capitol Hill and have a business tax cut plan which Steve Moore and I quote threes pieces. With a 50%. Tax rate. If if that ever happened I would expect the dollar bought a lot against these foreign exchange so. I just don't read too much. Very good very as actually going to be my next question impact of tax reform on the US dollar you think yeah now let me get stronger. I don't know and it may be that the clutter and confusion. Regarding healthcare reform now which is very much on the air up up in the air I appreciate that and nobody including myself. Can really predict that right now is of procedural vote next week who have almost but. I think you know that dollop played a little bit off the corporate tax cut so that moment when that tax cuts look. Doubtful I think that does take the dollar down a bit. That's all I if the pats got look better at a rate that dollar I think that the instinct to market. There's just a lot of confusion right now I just wanna add. That made little bit of breaking news the list there's. There's couple of big stories in Politico. And what. Leo Leo obviously every not a political issue. That the White House is well it did so for 25%. Corporate tax rate. And leave 15%. You and I've been told that they destroyed by various senior well place by those people very. That those stories are quote say. Good gateway is is it true that a B twenty though period because I read somewhere else than who they they were backing off of fifteen and maybe we'll have to go to twenty. You know it's hard to say that it pays them. I was in with president chopped. Ten days ago I've been several trips inside the way way too. I'm not here at this point I mean I'm by Aron price is right unions to balance still. That aliens look its ability or yeah Ali yeah very it's not good to negotiate with yourself. Though. Might take isn't shrewd trader like trump. You know will will keep his going in position if you and try to get it up. But if he goes that it played by the wind up with a birdie is right that so. I would I would get the vote these acts geo political report. And as I say one. What my better sources say he bought it. Good good appetite and and we acted to have a pretty good idea who that source might be. Value I guarantee you do not know. Yeah I have mold. With the mold I've heard that I've heard I had to be content. The more I've been can't do that when a bowl the compete commute from it but I heard you're taking up residence he did just a rumor. Yeah I do like it by acting like in New York Yankees here. But the Yankees are looking for a closer from the bull and now. You're on the shuttle. I think the culture is a horrible. Loser out but I'm it may and that. You know the product that is full scale and they're working and look outward. I just wouldn't. I would assume anything right now but about. Good Larry have a great weekend we appreciate it got. I Larry Kudlow senior contributor to CNBC. And despite his protestations that a pretty good idea who his bull is. Robin Williams. Played an army disc jockey named Adrian krona hour in the 1987. Film. Good Morning America. The winner on that question was nick from Centerville nick won a pair of Loon Mountain adventure passes you can enjoy numerous activities including his zip line. Biking and unlimited access to the gondola sky ripe for more information you go to Lou and MTN dot com that is the moon MT and dot com. And tributes today has brought you by the Armstrong advisory group with the markets still volatile. That was a great time for a review of your portfolio call 80393. 4001. Instead of your free no obligation com. A patient today. You know going back to the value of the dollar it is still up about 20%. Over the last six years so it's not like the dollars cratered. On a long term basis. 20% gain in the value of the US dollar plus twenty over the last six years again we it's it's pulled back about 7% so far since March this year but still up in the long. Crude oil trading down seventy cents a barrel at 4614. In the Dow is down 89 points at 21522. Very chuck from aren't sure match. Dot com student. 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 called 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. Security suffered through 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. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Emirates the SE equal housing lender and the lowest number 449250. Subject credit approval leave your bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting process and teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender stimulus number 449250. Subjective credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer -- agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered who also dig out all the discounts preferred customers -- you can qualify for call insure a match to compare multiple rates and carriers at 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 8449. Preferred stocks that very few individual consumers and investors buy preferred stocks. A lot of people just don't understand what they are that's why we're having a conversation with regard to preferred stocks. What makes chuck what makes a preferred stock preferred an amusing air quotes. One of the biggest things is that. Preferred stock owners 10-Q were rather are required to be paid. Before common stock owners both in the case of any bankruptcy but also in the form of dividends and distributions or would it does. Is it puts you ahead of the common stock holder. In the overall corporate value chain. All right so. If something where'd you go wrong with that company there and go bankrupt I often think about Wells Fargo right if Wells Fargo were gonna go. Out of business preferred stockholders would get paid before common stockholders on any company greater fuel preferred shares now. Not that many companies actually issue preferred shares. Not that many do it's it tends to be typically financial companies that do they typically do it as a way of raising cash without deluding common stockholders. But the benefit of this is that those preferred stocks typically pay out anywhere between five and 8% and as I mentioned. That distribution has to be paid before the common stock dividend so once again it gives you a little bit of a leg up in terms of priority to collect income. Would you like to learn more about preferred stocks call my office 800. 3934001. And receive our guide to preferred stock. The phone number 803934001. Or download the guide right now at financial exchange showed dot com. Pull free 803934001. 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. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead. -- be 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 a 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 -- they've got a new guide out this month that can help educate you on how to deal with this problem you might -- -- -- -- or an irrevocable trust which one who would work best for you give the experts at Cushing handle on 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 dream home is within reach with a Jumbo mortgage loan from leader bank the Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinancing all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and the lowest number four corner and you find zero subject current approval leader bank a step ahead. If you're real estate or property management company -- -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative 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 -- leader bank as they're banking partner call 8776917. -- 900 or email BDO at liter -- dot com for more information member FDIC equal housing -- This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day here's. Your world stay informed and today about economic and market entrants plus you breaking business news. And now the financial exchange with the very Armstrong and she so. Good Morning America or actually maybe I should. Say good morning. New England hi everybody it's very sharp with you here. On a Friday and I just wanna point out that this is that show where we never make it everything's done consider very very anyway. I wanna talk about how he and I wanna get into the topic of homeownership rates in 2016. 36 point 6%. Of households had rented their holds it close to the 1965. Number of 37%. So home ownership rate that the point I'm trying to make here folks is it. Homeownership rates little lower than they should be but that's not necessarily. A bad thing. It's not necessarily. And here's why so. If you look at the growth of the US over the last fifty years okay high homeownership rates have been one of the major driving forces behind the creation of a lot of well. They also were than the driving force behind the disappearance of a lot of wealth in 2007 through 2009. And OK there. What what's interesting is that high homeownership rates they can't benefit families that own properties. Because they're able to tap that equity and they're not paying rent to someone fair and that they're able to build some equity. In their property. The downside and this is something that we have seen since the financial crisis is that in an area that has high homeownership rates you have less mobility okay. If you are under water you are. In a lot of cases unable to move because you can't pay that balance. That you would have. On the mortgage nor to get that paid off so. What you see is that a lot of countries actually with low homeownership rates. They may not grow their wealth as rapidly as other economies in other countries do but they tend to be a little bit more stable. Because they're able to adapt more quickly to changes in geography of where work is being done at least. Just think back to. Worker mobility. I remember this like it was yesterday. You know the financial crisis of 2008. Guys were out of work right Peta were being foreclosed on. There were tons of jobs out in North Dakota. You could if you love them even if you were willing to relocate you can go to North Dakota and if you could drive if you had a commercial driver's license. And if you could if you could transfer hazardous waste my passion to make a lot of money but nothing what but nobody could because to your point B. The all these homes these albatrosses were hold them back. On the matches and everything what's interest in the homeownership rates that we have right now OK if we take a look at cross via country and the national homeownership rate is 63 point 6% okay. Which is pretty much equivalent to where we were in the 1960s now okay. It was only in the 1990s homeownership radio in 1994 was 63 point 8%. It was from 94. Through 2005 that we spiked up to 69 or no it was artificially high. Would it or what would you argue that like. They didn't we learn that lesson it was the root cause of the financial crisis now it and it was yet cause and effect you know we've hit it in a lot of damaged. I mean just solely. Innocent bystanders to wiped out yet and you read it was the rise of mortgage securitization. It. It was the rise of the needle loans no income no lasted verification or someone's as they have got a 100000 dollars in income okay able Indy 400. So what would you argue is the natural healthy rate of home ownership by the body heat certainly say 63%. Is not healthy. 64 to 65. Which if you own a home. Yeah I hope you're paying attention if you're a homeowner that should be music to your ears because that means we're below the norm. And to my. Thinking that means that property values are going to continue to increase. Until you get up to that. What you could go as high 65%. Which is quite a ways to go here we're at sixty. What 36 point six don't own a home. Right I mean 63 point four due to Egypt quite a ways to go about 1% more to move that could potentially buy homes in but anyway go over a little tape you know which is hate these the they never settle Leonid exactly 65 so 65 healthy rate if I gonna go to 6660. C. Avenue won't go to 67. Now up on prior to 1996. We had never had over 66% homeownership would get a real strong economy. Without strong economies in the fifties and sixties you have 66% homeownership now. With strong economies in the early enough and give it more two income families trapped in your head in the fifties and sixties home just more expensive. You know you know and keep in mind there's there's always groups of people. Who you don't want to actually own home or he learned that lesson that's not say if people right out of college as an example and okay. People want to be able to move to where job opportunities are seeking climb the corporate ladder that's a group. That needs to have mobility in order to have the best overall financial situation down the road you've a lot of people. Who when they get a little bit older they say look I've owned a home my entire life I don't wanna deal with owning a home anymore I want you with maintenance and all that. I'm gonna move I'm gonna go rent I have a number of friends my parents who have done that now and they said look. I'd rather have the money in my hand so I can do something with it and now rent you know early and so I see plenty of people who go when they do something along those lines there's always shadowy and an owner I'd like Conan might place and made it probably been a mistake. Period at a certain point you may get two point 1520 years now we say. I'm Don yep we have a lead yes he moved into assisted living often times gets to. You know the right ego but there's there's always groups of people bets. Should not be owning homes not necessarily because they they can't afford to but just because you want them to have the ability to have mobility itself. Some of our show is based on fact most of our show I would like to think is based on fact other parts of our show or based on speculation. Some of the speculation that we made in the past would include Calvin Johnson signing with the patriots which is still a distinct possibility. That you know if we want anybody else yeah I'm going to defend Barry on this yes I think to a two weeks ago. Calvin Johnson & Johnson won the major reasons why he retired was because he had no chance of winning in Detroit so. There's a chance goes on. And anyway. Now we're going to us and and about a month ago we began speculating on Travis collide next. Replaced right elite yet we had a conversation and I think it's time now that we give an update because the rumors are circulating. In one of the gals that is rumored to be taking Travis has job or at least via under consideration Ford is Bank of America is. In obtained. Her name is in it I hope I'm pronouncing it properly and it came up and she's based in Boston. She worked with what's the name of the CEO Brian Moya. If you look she's workable and hand for a long vice chairman of Bank of America says she's very qualified very well respected throughout the business world. And and she's connected with the investment bankers and right now. Hoover needs a bank at a CEO with good investment banker connections this this will be a pretty good hire for the you're darn right you know I don't know my my top choice would still be Howard Schultz this is I think he brings exactly what that company needs. But it's. What what what to do it by how specialty he's not like he's. But I do these two political and for McCain is very well qualified for the role and I think that there are others. If phenomenal job I have other you led by other armour who ultimately have. Tucker Shalit they gals in charge of YouTube. Yes I know that she's been talk that Susan would execute what's it what's. MRSA is there something is supposedly under consideration and I gotta tell if she may be qualified person she's former CEO of Yahoo!. But I think she's got this dad bought shoes great school. But she Connolly donate. She Yahoo! if if I were hiring for Hoover I would say she's someone who you don't bring on until she has another role first to prove that he's capable rights of kind right of leading another company discussed Cooper's it's such a crossroads right now that you need someone who's gonna come in and say here's XY and Z. And you need people to trust them. I just don't know if you can have that level of trust and Marissa Mayer right now he's another role first he clearly though the most important thing they need to do is hire an adult. Right yet that any honestly think this is a genuinely you kind of need it is because we can't afford another frat boy. I mean this is a great company it's worth sixty billion dollars I've I admire what they've accomplished in a very short period time. But the fact of the matter is some of the things were going along with the new over. If I'm an investor could have been avoided all like gosh Tucker Allman absolutely. Could have been avoided right. And try to think of who else you know is out there that might be. You know obviously we've talked about Sheryl Samberg but I don't think she ever just say well look too affable with the guy from forward that all fields fields are fields. Finished the day all you need they I like this idea of the goalie for a woman too because they've had a lot it'll sexual harassment problems get over. Are you bring in a woman. That's a message. That's a message to the board you know will be interesting if they wanted to look in that direction but she may be too political for the job they wanna stay away from that type of from that area. Sell across jock would be phenomenal there she's a former banker. As well and I've heard mixed reviews of her I think it should be pretty good. The issue is Merrill very former director of a Merrill yeah I mean I I I. I I wouldn't go there be her skill set doesn't apply. You know. I I think there's other executives he can get first of all so he's been out of the game for 56 years. GS but she's still been she's got her own platform that she's built up in the last couple years now because the sales and higher. I don't know if that's the case for future. Anyway. Up. Up next we'll be joined by Michelle Cortez now this is going to be a fascinating interview Michelle as we've Bloomberg. If she's gonna be talking to us about a new life saving. Drug for cancer patients so if you know anybody who has had cancer who has cancer make sure they tune in to this next segment Michelle Cortez. Bloomberg. Joining us to talk about. Two new drugs that are gonna change the lives of cancer patients that is next from our insurer match dot com studio. The debate over tax reform and trump care rages on them. Berrian should give the latest on how any changes may affect your portfolio for your financial strategy only here on the financial exchange radio network. Preferred stocks are unique investments that can be an effective part of a financial portfolio but it's important to understand the various types and the various benefits that come with any purchase hi this is Barry Armstrong there're several types of preferred stocks including straight preferred and cumulative preferred you can also purchase preferred stocks through exchange traded funds or ETFs if you own preferred stocks or are interested in adding them to your portfolio called now for my free guide understanding the basics of preferred stocks call 803934001. That's 800. 3934001. Call now 800. 3934001. To get my free guide for you can download the guide rate now at financial exchange showed dot com. Security suffered through 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 mention agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for a free consultation to make sure your property and family are safe and properly covered walls of the go to all the discounts preferred customers like you can qualify for -- insure a match to compare multiple rates and carriers that 844 and 99 match -- 8449. B nine match insure a match works with the leading carriers in the industry like -- bella 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. 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 only on the financial exchange radio network. Peter bank has just launched any savings account providing free online banking with a one point 15%. Annual percentage yield. You can sign up online right now it leader Bangkok com no minimum balances required. But this product is only available through their web site so log on right now for more information at the leader bank. Dot com we're joined now. By Michelle Cortez. From Bloomberg to talk about a life saving two lifesaving cancer drugs hi Michelle welcome to the show. So if you would can you tell us about these two new methods of treating cancer. And the I guess they're gonna reach the US market finally this year. Right luckily. He could be one technology. It's really revolutionizing. How we treat it is expected to revolutionize how we treat like cancers and kick it accompanied arguing it. Basically what a deal we I'll look at the system work I. Everybody in our body is acting bowling. Beaters or antigen and killing them off. And after that just doesn't seem to happen and a BL they're going wildly and should be erratically he killed naturally buddy system. Elect researchers have been doing what doctors will you at the end of this year and they eat blood found the answer each and genetically. Pull out that he now. Genetically changed them the that they let it and I had to get better on the actress felt good back into the patient and it helped him there. There are so. How many patients will be eligible for this treatment. Though. Additionally the very first approval we're expecting it at the end of October. For that theory all that medication. At pediatric patients who had a LL the bullet that that accurate now I guarantee that you're not strip but there he almost everyone diet. Pretty quickly there's only about 600 Asia in the US following that theory rare group. That bigger group is a non hodgkin's lymphoma and that's expected at that theory and an eight year they get it at about. 8008 and I would say well I. It gets really good at this point they're expected that next step is get in at about 50000 people and and then it it worked in Alec and other cancers it could be. Under the. Now the two companies he said were kite KI TE and Novartis. Write them an artist as a working earth and I think it is emea and that's in in the next couple of months and eight pharmaceutical is working on it. Also you know therapeutic end and I can't break at Bloomberg violent alcoholic and the technology. So what. What is the anticipated. Success rate of this therapy your procedure high of one term. I get that the great question that at midnight not really into that exactly. And treatment and had today. That that result they're really astonishing. Either patients who are expected to that with in. Within months if not weak and breaking. In in eighty or ninety and a whole and especially with Billy and yet really dramatic. Oh my god you didn't let that death sentence. Literally it got expectancy of people who have gone through on America can't plant cycle after cycle at my therapy. Eight and at home told to go on you here last time. The last few days you know it astonishing that that the bigger thing is a complete connections right because well let me get a couple of extra week a couple of extra month. You know what you really want it to white outfit they can't yeah and you can act which like a third of Asian and it is happy that they could question. It seems to be really long last. What's the what's this gonna cost per treatment. Well added that great great question because it is that what kind treatment and it's very compact. That that over under at about 500000 at this point yeah they're deeply about it entered treatment for bone marrow transplant. That could be anywhere from a 150000. That you really and nothing complicated happen. Over a million dollars bill people are really thinking somewhere around a 100000. So if you're on Medicare. Is this something that you're supplement would cover your Medicare part B and if you're Medicare supplement or is it's. Is it too expensive for an older person is this just for young people. Well I don't think that at all that it can be death for young people and it it it it let it approved it would be covered the I I Medicare and hopefully Medicaid depending on exactly what that that. Outline that that they are our what the actual indication in the paint that cancer. Board board. Medicare patient in 98. It okay bill. Ed you're not a lot to get that is it that there is residual Kot that you're talking about happened in dollars. You know waited in the B that cot at that the bigger question for Asian. So we don't know that we don't. Where it because it's not this program is not going to be available. Across the country it's it's but I think thirty different locations that you mentioned in your article. Anywhere in New England that a cancer patient to be treated with us. It's a great question that is actually want and then it went live actors it is because it is so complicated. Patient can have very serious side effects but now undergoing it. That they need to be treated in the facility at Miller exactly what it spewing and you've got it right there. In our area are incredibly lucky it will literally the only place in New England where where where activity currently earn at least a mode is right inbox in. There's three places there that are giving carte can't even match. Jeff Allen the F Barbara at Israel but. If you use that little area that you're starting to look at you've got to go to new York and Maryland or Ohio delegate. It's pretty. A pretty ball as I played. We'll great work on this Michelle I make sure appreciate your coming on the show because. You know we've all had family members that have passed away from cancer or loved ones. And this sounds like something that will you know work with the blood cancers now but I think there's also hope that it may work with the other cancers. Yep absolutely they're starting their child out to go into the ballot emerged. That's fantastic so thank you very much she'll appreciate it. Michelle Cortez from Bloomberg. And you know now and then we bemoan the high cost of drugs and you question it. But without the high cost of drugs this type of research would never get them. I doesn't get done. You know yes and this is this is. This is. Like change is imagine you're you're you've been sent home and put on hospice yet this therapy. End bull you're you know we it it it has the potential to revolutionize how we treat cancer if we can figure out how to. Apply it to multiple types of cancer that's the biggest challenge Tucker I think he's just a suggestion tea room and I can just imagine the text messages coming in about this. You'll you might want to post this on our FaceBook page aka. It's just a suggestion or does it. It's Connelly the we we had a number of people posting this asking about that student loan forgiveness young not forgiveness the day the way to get out student loans and yes and now and then we hit on topic that is just. It's just unbelievable it just it it blows away it is absolutely is mind boggling that coming up we're only talking. About prison sentences. And there's a state within the country where they are shortening prison sentences for inmates who get vasectomies. What do you think that that's our next topic from our insurer match dot com studios. You've got Barry Armstrong. Exchange. 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 all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number four corner Dubai zero subject current approval leader bank a step ahead with. 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 per fide 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. Security suffered through securities America incorporated member finreg SAP c.s and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America 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 -- and they've got a new guide out this month that can help educate you on how to deal with this problem you might -- -- -- estate 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. 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% back it 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 -- subject to change without notice member FDIC leader bank a step ahead your financial strategy has to include a thoughtful insurance plan insurance exist to protect your assets. Our friends at the insurer imagine agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's pay 4499. Match many of our listeners don't know home and one or two cars if they describe zero you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's date for 499. Match insure a match works with the leading carriers in the industry Laker bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 of 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. Workers at leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to 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 dollar offers fixed or variable rates for both purchases in refinances all originations are managed by your bank's local underwriting processing team for additional information call 8776917. To 900 that's 8776917900. Or visit leader bank dot com member of the SE equal housing lender and Miller's number 449250. Subject to credit approval leader bank a step ahead. The financial exchanges alive on FaceBook so make sure like your page and watched you guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. The late. Robin Williams would have turned 66 years old today we're asking trivia questions about a few of his best known film. In which film did Robin Williams play a freelance voice actor. Mean Daniel Piller are tech's number is 68680. Those of you who Wiener that's for the first person with the correct answer. You will win a prize or prize today is. We're around passes which is actually fun I've been there it says it's time. In which film did Robin Williams play freelance voice actor named Daniel Howard again the text number in studio here. Is 68680. Never ones to shy away from controversy. Inmates in Tennessee. Can get up to thirty days cut from their jail time. On the condition that they agree to get a mastectomy. Or a birth control in play I just. Throw that out there just dome for a pack with the dome I like the idea that one IA why do you like this idea. Get people who all go to jail you shouldn't have kids and you go to jail you go to jail you shouldn't have kids is the message yet okay. Amar a yes of. About the whole public. And who option. It is an option all right if you're stuck in the hand in urine drug dealer prostitute whatever your crime is right you can get thirty days off of your sentence. But you're not gonna reproduce. I'm OK with that. I'm. Well let's. What's wrong with you people what why would you be opposed to criminals not reproduce it. You're assuming that like their kids automatically going to be criminal yes. Out and I I think it's a fair statement the EF I I think that might be excess of record it to assume they're going to be criminals that. I I think it's a fair statement let me finish my might make sense. It is a fair statement that people who have been incarcerated. Are going to have a difficult time in later life. Supporting him. Target a compact and through that you with baker and chuck evidently. Had has a problems that you disease is still. Use you're saying that to get thirty days off he think it's fine they offer the ability to either have a vasectomy or birth control equipment and they had to brightness and OK Il ya sign if you will I imagine when you're in jail you would do just about anything in order to get out without thinking about the long term consequences and and you will be reproducing it and I'm OK with that. You know I almost wanted to do that is a poll question today I mean it's but I am not lose you know to controversy I'd at my putting it in the stack. And I thank you for bringing it to my attention to him as he makes trucks and it's been. But I'm OK with it it's outright manipulation yes yes and I'm OK with that manipulating criminal and I'm OK okay. And we will move on agree necessary. Speed it up a poll question. You went up to actually we never really announced that agree we should do that are able we were talking earlier about pirating. TV show isn't you know game thrown passes and one of the most downloaded. Illegally shows out there so or pull questions today is have you ever pirated. In movie or TV show ever on our website financial exchange showed doc on you can cash or vote. Embarrassingly I've had to vote no because they don't know how well I haven't either it and and I still even after you've explained to me still don't know. Who will the dark web but not promote work computer. That's helpful that's helpful approach I. Tony I think all of that stuff is gonna come back to people. Yeah unity this. Downloading. I I really people do with with football. As I've seen guys do it to watch certain teams that are out of market. They can't catch all these people. A lot of people don't know exactly where to get we're unified we're going to be able to track down ninety million people. They about I just you know there there if there's I have learned in my life will do it down and I've learned in my many years that. You know. Karma is a bitch and mean it just it'll come back and bite you in the room rent when you do this I've I don't. Doubt that lake again I don't think people should be doing it but there's usually agony on the way to stop him. Mikey you don't have the the enforcement abilities the only way to do it is you have to go after the guys PC Internet service providers who actually scary and they don't seem to care. Why would they care they get paid on the data. We have talked a lot about our friends at the insurer match agency may exist to make sure that your assets are protected. If you're like many of my listeners who own a home. And wondered two cars you're the perfect candidate for free consultation with one of their agents to help you review your insurance needs. Call them today at 84499. Match at 844. Nine. They'll also dig out all the discounts that preferred customers like you can qualify for. Call insure a match to compare multiple rates from all of the top carriers including our bell Plymouth rock and more. Eddie 449. 84499. Matching sure matches license for all types of insurance. And they can save you time stress on money and money one phone call one relationship that is all you need. Call today eat for 499 match or go online and insure a match dot com. The United States and Rex Tillerson is office has decided to ban tourist visits to North Korea. And I wish they had done this year's oh there goes my honeymoon to see. I have a different option to circle back to a previous story if you wanna get thirty days off your sentence. You can go to North Korea. That I think would be an acceptable compromise. I think he'll manipulation should I know I feel yet more escalating jet I feel much more comfortable with that. Just look at again like there's no guarantee that you're going to die if no guarantees in combat know exactly but at least it's like a 5050 chance. But he added US State Department banning tourist visits to North Korea. I'm I'm surprised this had happened earlier I how many Americans would have gone to north. Dennis Rodman. They'll go to any day did I I Dennis in North Korean citizen at this point I think it's good to ban it and it's just one war. Economic nail in the coffin for North Korea because although it happened is Americans would go there. In all these empty their wall let's think about 45000 people a year just go back I know that's not that's an American at western tourists. So Americans probably. In the hundreds you know ever since we talked about auto warm beer I could never. Understand with the fuel use of going to. You never knew lovely weather. And it's cold. I have a friend who went there for work actually. And Villa he was there maybe a year and a half ago for about a week and a half its dangers sort of switched my job you know. Well it's easy work for the government no. But yet he was there for about maybe you weaken after two weeks and would he say about. It was weird yeah. Describe it pay that's it's just you know you've got you know government employees everywhere they're just kind of want to make sure you're not doing anything you're not supposed to. I had no desire is not it's not in my bucket list and places to go never made. Elon Musk. Teases a New York to DC. Hyper loop that would make the trip in about 29 minutes I'm all in. I've probably told I'm Amal another high profile 129 minutes 49 minutes now with a three hour train ride Tucker announced to DC yet you get in if you go to Penn Station. Which is just to assess pool. And you take that to Washington DC it is over three after the three or four hours right. Yes in this this hyper loop again 29 minutes now keep in mind Elon Musk is talking about building effectively a giant tunnel and through that entire area. Six states would cover which I didn't he says that he's gotten verbal government approval from what government. But there's again do multiple states would be weeded that out right yeah he tweeted that he's received verbal government approval lake. Has he talked all the states they're all on board with that I talked to Donald. So it is but I think it is I. I love the I love the concept article but think it's fascinating I think it's something that's going to what does it have to be underground would be cheaper to do just beat tubes at above ground. It might actually be so you'll must also runs and of the company this is one of the best names for company told the boring company out. And it's it's a tunneling company and I think that you know he's figured out ways to do this a little bit more cheaply than than doing it above ground and I think it might also be safer below ground as well you know. Now pass it 29 minutes gets up to around 800 miles an hour point pass wouldn't be taken audit fees that you would that right now. Pairs I'm all in I do. I'll be at the time this thing comes on now I'm I'm all in on hyper loop yet but I'll be dead what's the timeline on this to royalties fifty years hundred years I don't know I don't know this'll this'll be within the next decade. It out. About that I will be put on the board I don't know the Byron wrote this for years put it on the board now and then I I want to delay my retirement because you guys makes it outlandish statements that I Norton you know be sliced on Johnson. That's what could happen. That would get back and trying to steal back it still happened on the lot that in order and I think he's still he's still kicking around some wars I don't know we spend anymore time in Vegas but now. He's just not a good football player. General Motors eases their summer production of the ugly should be able to community. Like I own shares in in General Motors and and I do like the CEO and I like some of their products. But I think. The two problems with the ship people want it's too expensive. And too it's just a what's the cost about 3737000. Dollars if it was selling for our. And now. 33 and let itself for as much as the Tesla because the Tesla action looks. Very severe come out really is slightly lower I didn't do why did they come out with the ugly car and I couldn't make. Like why couldn't you just come out with a car that's it does have to be as attractive as a testament is to be this is ugly I think. It's a guy I wouldn't buy when yeah I I don't write a pretty low standard I used to drive a Prius so amoeba in bubbled to drive this thing in my estimation is a clear that a Prius. I would agree with that. It's is one of the ugly scars on the road and it's they they kind of got hit with this gift to headed monster where. You know they roll out this all electric vehicle that's expensive at a time when gas was a little bit cheaper now. And also they did it time people are buying cars like this anymore you know they're buying larger cars now which just. You can get one by the way if you are so inclined. Paul Massey Chevrolet. In east Providence Rhode I really 200 of them right now and and and he's got he bought a hundred he sold eighteen notes sold 22 excuse. But you can lease one. Zero dollars down to 49 a month. That's a bat not a bad deal not a bad deal it indeed it's need to get one of those just to torture and you make me drive drive they make you drive what. The condition of checks employment drive where does lead vehicle you know be the worst. Up next we'll be talking about what you need to be reading. To hang out with rich folks. That's right we've got the list would a rich people read that's next from our insurer match dot com studios. The trend 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 Marion jock on the financial exchange radio network. Titus is very Armstrong if you're regular listener to my show you know that I've been a long time customer of leader bank I've been doing business with them for years because they're always coming up with great deals and here's another one that you should look into leader has just launched an. 15%. Annual percentage yield you can sign up online right now and leader bank dot com no minimum balance is required that this product is only available through their web site so log on right now for more information at leader bank dot com this rate is effective as of July 18 and may change without notice get free online banking with -- leader bank's new. 15% annual percentage yield and no minimum balance and remember this product is only available on line to logon to -- -- dot com right now that's leader bank dot com leader bank a step ahead. Member FDIC no minimum Alex fees may reduce earnings rates subject to change without notice and may change after an account has opened. 3934001. Call now 800. 3934001. To get my free guide for you can download the guide right now at financial exchange showed dot com. Security czar for two 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 plans and insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars that that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered 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 84499. Match insure a match works with the leading carriers in the industry like our bella Plymouth rock and more. Their license for all types of insurance and continued time stress the money we 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 ain't member of finreg SIPC an advisory services arbiters securities America advisors think carry ons from representative Armstrong advisory group in the securities America companies are unaffiliated. Get the latest on economy from CNBC's senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. Robin Williams. Played a freelance voice actor mean Daniel Piller in the 1993. Film. Mr. doubt water. As we all know he also played the old. Mr. and mrs. doubtfire. Mr. snow well no doubt water Good Morning America over the the winner on this question is Cathy from Rutland Massachusetts cat he's taking on a pair of Loon Mountain adventure passes. Where she can enjoy numerous activities including his zip line biking. And unlimited access to the gondola sky ripe for more information. Balloon MT EN dot com that is a loon MTN dot com and tribute today is brought to you by Armstrong advisory group. For a free no obligation consultation. Call 80393. 40. 01. Well if you wanna be rich there are certain web sites that you need to go to on a daily basis that their top. 25 web sites with the wealthiest audience would it how do we define that. That's people with incomes greater than a 150000. Dollars per year. Yet the the number one site for wealthy people is a thing called the real deal dot com to rules which is a real estate site that details high end properties. In Miami new York and Los Angeles and a 27 point 2% of people who visit that site having come north of 150000. Now also on the list crunch base DC urban mom apparently is very popular 23 point 8% there and a number of other states the big ones that are on there that you might recognize CNBC comes in at number six. Opentable number eight. NASDAQ at number twelve Drudge reported thirteen MarketWatch for an MarketWatch in their Levin and I think that's a bunch of other sites that I haven't really heard of or Noland an awful lot of these are all free though. Yeah all free web sites generally. Now I think if you looked at the paid sites. For. And I'd love to see the numbers and paid sites like back sent. Wall Street Journal Wall Street Journal blur. Right now I know what those income numbers gotta be high. But yes so it's I I read four out of these 25 web sites. Adding count up how many and I don't CNBC. Go to crunch they are CN YC like open table and stock charts. And informed. The dilemma went to war or lipped out competes public transit this is actually happening. In isolated incidents. Around the around the North America the we we covered a story here call in northern Ontario. Younger than this that he was a really one of the town of like 30000 people that said look it's cheaper for us to subsidize left then to build a bus system and so that's exactly what they did is they subsidized lift to help their people get a ground black tie the MBTA. It you know Rory Kennedy look at any. Major. System the public transportation. Hey Lou we get rid of our public transportation system and replace it with and look at the only works a small towns. I'll just I think the traffic would only imagine if you try to do that and like Boston or New York but how many people ride the you know them the training New York. Billions and in New York with the advent of Hoover they track the speed of traffic. And it's it's slow down a lot or oh yeah see. It's slowed down aloft. Yell at you look at the ridership in new York and the average weekday ridership is eight point nine million people movie just take it all those people out on the street. If you talk about Boston. 552000. People a day. Then ride the T yes imagine I imagine you know you think even if you're right share with multiple people yet that yet 250000. People each you know. I think what you'll have to cause they're going around them right that think about a city it think about some of our affiliates Providence New Haven. Hartford Springfield. Still think they're too big the they don't suffer EU downtown Springfield it's not that much traffic I still think it's too big and just like. Think about liquidity about from a cost perspective. You know people are dissatisfied with the product. And you wipe out the cost. But Paulson that the travel times become longer you know be announced and you can't get there you know that that becomes an issue than if it's okay yet it's 10% cheaper but it takes 20% longer. It pushed the cost rate back up you know. You know Springfield pulling up the information. On them right now just to see. How would what kind of ridership they have I don't have any data right now and we try to pull up. FTC the FTC is probing allegations of Amazon's. Deceptive. Discounting. Oh yeah this is what it what they're doing is they're going in. And they're pretty much saying hey when Amazon says that they're giving you money off a product. They may have never actually have the product at the list price that they say it was originally listed. Real. Yeah that's that's what they're saying they actually that happened immediate dad went to buy some you know potato chips. And shocker I I bought this is a really good deals on sun chips right is as big. Being an attorney chip does big boxes assigned chips I placed my order was twelve dollars then I got an email today we we we have to default with instant. About a photo tips. If we get a grocery store away. There. It literally of the allotted to know. Dow's down 58 points on Friday have a great weekend everybody buried chuck signing up for march or match dot it.