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Full Show 9-7-17

Sep 7, 2017|

Full Show 9-7-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. We are still cleaning up the mess from hurricane Harvey and now we have Vermont charging towards Florida. We're twenty million people resides. Hi everybody it's very truck with you here on a Thursday and chuck I feel like. Watching it train wreck. At least the preparation of the trainer. It's this as the pretends to be pretty bad on me and you talk about a hurricane it's now a category four with you know 145 mile an hour winds. If you've seen any of the pictures from the British Virgin Islands overnight. Or saint Maarten it's it's just destroy I mean some of these islands just completely destroyed him. And it is just not. He pretty picture on any of those islands and this thing's pretty much barreling towards the East Coast of Florida right now. And it's still difficult to ascertain exactly where land falls going to be. But somewhere probably within fifty to sixty miles of Miami appears to be where this thing is going to hit right now based on all the information that we're getting from NASA the National Weather Service. Now it's Thursday in a week after remember it's in the speculations that it don't hit South Florida. On Saturday. It could change direction between now and made it very much but they've done computer modeling and they have pretty good track record in terms of predicting where these things are gonna go. And right now it's headed towards the Florida Keys are trying to evacuate people. Challenge they have chuck is right now they're down 30% of the gas stations have run out of gasoline is because of the supply chain and. Other thing that you have to remember is that most of FEMA resources are devoted towards Texas right now just because they're still trying to dig out from all the damage done by hurricane Harvey so. You know I know that parts of Florida are trying to you know get FEMA in there and say we'll keep we needed to bring back bring gas and it seems pretty much sank. We're gonna do everything we can't we we can always spread ourselves of interest because we only have so many people. They can actually get around to these various locations so there's problems with evacuation right now down in Florida. And he's got price gouging going on with the airlines yep you've got price gouging with airlines gas we would just about everything you always see that in situations like this just because you have. That people who take advantage of people trying to get out of there. Couple airlines have held fares out low levels I think was either. Try to remember that jetBlue or southwest. Is holding fares at 99 dollars for people can get out of Florida but some of them you know you've seen go through the roof with this. Well at some people don't have anyplace to go. Some people are older and infirm they can't go. You know what we will end up seeing is the same thing we saw it used to you'll see nursing homes that are flooded and you're gonna see hospitals that are devastated. And you know the eve got EE can't evacuate twenty million people that that's how many people don't live in the state of Florida and that they've. Projected model is that this darn hurricane who's right up the middle floor. And that is if that happens chuck look at Charlie. Yeah I'd see it this is a pretty significant. Of event you're going to see there and it's expected her to retain. Category force that is probably through the middle of the state as well so it's not something. Words just gonna you know grow your quickly declined there. In this is even expected to head pretty much up into the southern Georgia and South Carolina region as a category one hurricane still commands so. It does to the crops unity your farmer only counted much of Florida we think of Florida you think of Miami be sure you might think of you know Jacksonville or Tampa but. Farming is a major industry in Florida. And we get a lot of our crops coming out of force strawberries think about thing about were inches obviously. He is a lot of things coming out of Florida that are going to be disrupted if this hurricane hits there are I mean it's it's certainly is a major. Supplier of a lot of produce coming out of the out of Florida. It is not actually believe or not it's not one of the top ten agricultural states in the country so it's not going to have. Widespread disruptions for things like Warren and you know rice and things like that but it is going to have a major impact for some of that the price of their famous were we talked about Orange juice yesterday obviously. And then you you do have to continue to say talk about some of the other natural resource and just how you get them to people can talk about oil and energy. You know you you you've got all kinds of problems already because of Harvey just trying to get production spool back up. Now the question becomes that he could have some damage to other infrastructure around the southeast that prevents you from getting that oil to where it needs to go. As you go through next week so it's you know you just continue to be hit by this for their biggest industries tourism. And so with the hotels in the resorts are offline. Well and indeed you're going right into their tourism season like you think about. There's some of the clients that we serve right wind they had to Florida sometime after Columbus well in in not just Florida but you talk about some of these islands in the career beaten and how hard it's going to be for them to rebuild right now is as you say this is their prime season you're heading into for you know whether it's the British Virgin Islands Antigua Barbuda all those places this is prime time for them. And they're not going to be able to get the people in there to bring in the tax revenue to rebuild. It is going to be a long time for some of these places before they get rebuilt what ends up pap. Inning is that people leave you know anybody who's mobile. You know it they'll stay if they can get paid and on these islands if you're carpenter you're going to be able to make a lot of money rebuilding roofs of homes. But otherwise you're see a lot of people just leave the islands and not come back. Same thing could be said for Ford you may have people that live through a herky elected allowed people who live through hurricanes and say I'm never doing that again. Well the other thing after a member is right behind Irma. You've got. Jose it's lining up as well now we have that separate your priest it appears to be that that's likely to drift a little bit further out to sea and probably not hit anything but he sit there and you're saying. Look at this thing changes course for whatever reason all of a sudden you get another one dominant three days later and how to these communities even tried to deal. Is very difficult. Americans are losing faith in college degrees this according to a poll that was recently done. The C the poll is done by the Wall Street Journal. And NBC. And overall a slim plurality of Americans 49% believe earning a four year. College degree will lead to a good job and higher lifetime earnings compared with 47%. Who do not feel that way. This according to a poll of 12100 people that was taken between August 5 and ninth. That two point margin narrowed from thirteen points chuck when the same poll was asked for years earlier. Yeah and it and those you who listen you know that I'm pretty critical the cost of college. But when you look at all the data out there. It shows pretty strongly that there's still a very strong benefit in terms of a career earnings. By going to college what's interesting here. This shifted the negative shift in the negative sentiment that you see there is largely due to skepticism. Among Americans who do not have a college degree so it's pretty much. You can't fire me I quit or well you know it's it's. Here's my question now the it and I do think that the shift is occurring I think perhaps and and I'd I'd. Make a statement based on conversations I've had with college professors. I think we made the mistake of sending kids to college that maybe work college material and would have been better served. In some other line of work it and and I'm wondering if we're making mistake. By not calling. An electrician. A college educated worker or a master carpenter and a column and not college educated workers it's it's a different they treasury vacation yeah well nobody is a different type and he like you look at what it takes to be an electrician today talked a lot harder to be an electrician and it is a sociology major. No doubt about it but that doesn't mean that it's a college education by Gibson again these these are specific terms and I think we have to you know make sure that we're using them in the right way. I do think we've sent far too many people to college instead of putting them into the trades in places where they would have been successful. I do think that colleges. Have tried not tried colleges have grown. By bringing in an awful lot of majors like sociology major English majors that subsidized the higher cost engineering majors that's how they've neo kind of made things work for them. But it's. There's no doubt that if you go to college it's it's not even go to college at the end of the day and if you put in the work that's required regardless of where you are whether it's going to college whether it's going to trade school whether it's not going to any of them and just coming out with a high school education but still working and doing something with that. You're going to be successful. And I find that. We need to find the right place for the right person because not everyone has the same path in life not everyone's going to do the same thing. And I think we've set or too many people in the college. But there's no doubt about it. That this thing is that are awarding college are valuable if you're willing to put the time and if all you do is you go there and you don't go to class he parred all the time it doesn't do me a whole lot of goodness. To bolster your point the unemployment rate for those who have a college degrees two point 7%. Compared to five point 1%. For people will that have high school diploma. Yeah and and part of this is also you know you just don't give the symbol validation to your. Respect a big part of that is due to our own laziness with hiring them you know if you get someone who don't drop Therese man your desk without a college degree how many different colors right that person off even though. They may have the work ethic and the intelligence and to get where they need to go they might just not a had the opportunities. Because of new various situations may be that you know near the parents were sick or something and they couldn't go to college. You don't know that but I think oftentimes we use that college degree is a short of the hiring process and and it hurts of people who don't have. Is a college degree still worth the cost that's our poll question today go to our website financial exchange showed dot com should you care to participate. Is a college degree still worth the cost up next will be joined by Danielle. Move Leo from business insider to talk about how Hoover and lift. Are going to be eliminate or reduce the need for car ownership in major cities that's next. From our financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that are break here we Berrian jumped on the financial exchange radio network. 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Or download it right now at legal exchange showed dot com -- are strong here and I'm joined by. Who's a vice president and leader bank and were talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to the young couple hours just somebody's out there looking to purchase their first. Time home yes so you know for first time home buyers what we are telling men are a couple things one be patient. Yes you know we we see a lot of first time homebuyers who are making 51015. Offers some tendency for fighting house now and offers except it's extremely competitive okay. And so they have to temper their expectations. Oftentimes they're they're paying more than the other half to. Paying more than the asking price and a yeah it is quite common right now in and in some cases they're actually having to to research other towns and rooted in considered first because. 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Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America income members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. But. This segment of the financial exchanges fraud due in part by the US Virgin Islands economic development authority you're looking to start relocate or expand your business. The US Virgin Islands is one of the most competitive business locations in the Caribbean. Take advantage of the incredible tax incentives that are fully sanctioned by the US government for more information. Visit. US VI EDA dot org that's US VI EDA. Dot war. We're now joined by Danielle blue EO from. Business insider the headline reads blooper and lift could destroy Karl Karl ownership in major cities I Daniel. Good to talk to us about the study was a pretty comprehensive study that was done by the University of Michigan and Texas a and M. And it looked at. The I guess it was Austin, Texas that the uses a case that it. Yeah exactly. So I had a bit. Heart sort of knee window of opportunity because amber and list has been operating there between 2014 and twenty. Oh and then they left. You know. There are regulations were passed and you know they. Abandoned ship and so you know may of this year actually. Kind of you know I'll open the night opera mini be seen what how good people. You know become accustomed to live in Hoover and then what do that you want you know about what an op or how they respond. So what were the results because they had that you like you say it was a perfect time to do a case that. Yeah exactly so basically they add. Well on locals there you know what they typically technique in using Cooper or left and then they had okay. Out. And I anymore what what do you use now out that 41 bad. Went back to their own cars. And that acting 9%. That 41% bought extra heart and make up for the back you know they need to drive more. Yeah so we need another forty. And had to finish up. Idea and right by the other right there there's you know local community option that had. You know opened up in the week of the year. They went for that. So what was the conclusion. As a relates to car ownership in big cities and I'm thinking specifically of cities like. You know Boston New York Chicago. Los Angeles San Francisco whipped what's the future hold for those big cities in terms of car ownership. Yet the study showed that. Lipton government like you hear is not have to use your card though. Maybe you own one by being in the right way you know are not longer period of time or you know the there are people who were clearly getting her out of time without and that belt world now we need to get a card yeah. We're not able they'd make you stripped that we UAL. But the interesting when thinking about that the other AD but is happy with the great ballclub that has been opt in public and sit. It's not seen as much a viable are only 3% of people that that they could take public transit. Your different where you know their. Subways and you know better about this than you might need some very big either way. Right. The year the district personal car. What about the the value. Of parking spaces we saw. Several years or three years ago a parking space in the back bay which is admittedly very affluent area with the in Boston. Self produced half a million bucks so what we did do parking spots go down in value with the advent of looper in left. Yeah definitely met. There's a lot of you know the possibility that open up with. The planning and the way we live in cities when you know people are able to adopt ride sharing more. You know about parking we can go down and then maybe you don't eat said bill that the you know turn into pork or better how being. There's a lot of that open up when people don't feel the need of a car anymore. Put boat traffic traffic's actually gotten worse in New York City. With Cooper list likely Bloomberg has this monitor. And made major the average speed of traffic it's gotten considerably worse during the last seven years. Yet a very good point so attractive. Apparently. You know it putting single occupancy cars on the law broad. For the most part. Nobody's used in the pooling right get nobody's used in the overrule in the lift pool. Yeah it was a car. The opt in thing in the that he found Mac you know for the people who were using a bird and that means well or bad or you mean. Carpooling options I bought the more so it is not. Catching aren't and a problem for us and obviously because he's still. It still contributing to more partner that but if you're you know putting people in need shuttled back and bring up the road. But you really you know meet you should get there maybe that means that. Cooper let's try you know we need to put more effort at getting banned on the yeah. Comparable you know hearing that car and yet get the band is uncomfortable people are willing to do it. Right there will pay the extra ten dollars to get a private vehicle. De L figure metric timing your research per share. Danielle boo Leo business insider checked the whole. Thought of self driving cars took a step closer yesterday. Because the house is at least gonna look at legislation puts legislation out there'd up for a debate the federal legislation. So. You know I I'd I'm a big believer in advance technology M in early user advance technologies is actually gonna happen self driving vehicles yes. How many years. Until you're able to buy one that's fully autonomous you know or you may not violent images sounds like human or so they can use when the oil Thomas five. Five years 122. That's my that's my guests did that a couple text how many years have they want says I'll never go my car my car is freedom I can go anywhere it's spur of the moment get a bike another Texan of the 617 says my sister in law's apartment Quincy and she and her fiance sold their cars. And only use Hoover for every 02 ends of the spectrum if you're. In close to the city especially if you have to pay for parking for worker pay for parking space in the city now forget it it is usually rent to rent a parking it just an outdoor spot for the bucks a month you know. Yeah. It's it is if you have to deal with park in the city it is cheaper for you over every day and deal with the car payment insurance parking gas all that it is cheaper for you over every day. That's a my daughter does she lives in back bay and in she has a Condo with a parking spot. She rents out parking spot to use the money to pay for for mortgage. And she uses amber she's had better pattern of a car payment. I don't have an insurance payment pattern of any maintenance associated with the car that and I get I get rent I collect rent every month on my a parking Spiezio. And he would do like it's win win win and she you know. If she needs a car she'd rent one or borrow one from months. It once is I can't go anywhere on a bike with my family get multiple bikes. Here not help or don't want what multi device seats and the bike they're they're very cute very popular these days. Wall Street watches up next for mark financial exchange radio and. Making your Smartphone even smaller here don't go mobile lab by surgeons financial exchange shelf in nineteen Jordan who. Who played stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Wednesday with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more -- -- rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW -- see rent dot -- to learn more or call 7816418691. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half. Have you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guy at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Security suffered a securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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Member FDIC it's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing call lead 776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a. Time now for Wall Street watch a look at the market's performance so far today but I don't Berrian jug right here on the financial exchange radio network. Michael Armstrong is with the now for Wall Street watch like think. Joining us for a check. Like let's start off with Restoration Hardware looks like they'd be on up profit and on revenue was going out the stock. Pretty significant beat Major League profit or registration are worse 65 cents share which is eighteen cents above estimates. They're real big news is that they're beating on revenue as well as same store sales missed it they're seeing source sales increased its 7% missed expectations and only five points or. They also raise their holier estimate mad they're benefiting from the target new membership model that they implemented. Stock is up over twenty dollars or 42%. On this. I had to check buys and I came in this morning is go pro was up about 17%. And it didn't quite make sense to me but. What's what's pushing the stock drop. You know today they've had a pretty tough year on you know a number of slot C one of their issues with the one of their their drones had to be recalled and fixed and just lack of demand that they are seeing a little bit. Of improvement in that area. There expecting stronger profits this quarter as well as revenue and gross margins beating expectations basically just on higher demands of their products this quarter so hopefully good news that the rest the year as well stopgap a dollar fifty cents over 70% on the news. Outstanding Mike thanks for the time. Mike Armstrong with Wall Street watch. Around this time three years ago market baskets majority shareholders. Sold their fifty point 5% stake in the company to Arthur T double us. For a cool one point five billion dollars ending this summer long. Market basket Saigon the topic of today's trivia questions is market basket. In what year did did to molest family open their very first grower for store our text number is 68680. First listener with a correct answer wins a 25 dollar gas card. In what year did that didn't lose family open their first grocery store. Rumors afoot that Amazon is looking to open. A second headquarters. Somewhat counter tutor Patti have two headquarters but then that's the that's a statement in the press release. Yeah Amazon announcing today that they are going to be building what they're calling Amazon each Q2 and that is going to not just be a BO another facility in another city. But really a a second headquarters so that they can work. Around the country I think a little bit more efficiently. The numbers just to give you an idea how big their Seattle headquarters is. It encompasses 33 buildings eight point one million square feet. Includes 28 restaurants and cafes 40000 plus employees that are paid 25 point seven billion dollars a year in compensation. Do you date perhaps. Go to Europe or Asia. Unity the this they're saying they're looking for it a second US headquarters second US what would be let's let's talk about potential. Sites I mean I think we'd all like to see it in New England at least I would. I think when you talk reds not to be the West Coast is that doesn't give them any advantage they are to have a West Coast headquarters are not looking for another one in the same here what about Atlanta okay. You come to the East Coast. They're probably three to five cities that are and I think reasonably up for consideration New York just is the sheer size of them now okay. Atlanta is a second one I think. If you go in take a look at Florida potentially Miami. Okay lot of young people in Miami on young people in Miami. Boston. And Philly. I think those he'll probably your options those got a lot of good education and they talk about ten temple on the need to go down the list Villanova there's a whole bunch of good educational. Institutions down would've been but DC potentially the huh. Does the Washington Post does a Washington Post DC's actually not a bad idea. DC could potentially be an area that he looks as well less repair company. But I I do think this is something they announced they said look it's going to be something you know similar to the size and scale of their Seattle headquarters to put this in perspective I don't Boston could hold. The Amazon I mention they pay a 25 point seven billion dollars in topped their 40000 plus employees were set to an average of just north of 6600000. Dollars a year now permanently now. So I every city's gonna want this and they're gonna drive a hard bargain I can assure you. May you wherever they go they're gonna get tax incentives there and you know get the red carpet rolled out of the I've tried to think of cities. Atlanta is it viable Miami though it does definitely viable and if you've got you've got a major airport there they goes just about everywhere now did at I think those are going to be the big things that terminated the end of the day and it's gonna be access to transportation access to talent and so forth new York New Jersey. New York New York's a possibility I think the cost may be too high for them to go there you know Amazon doesn't philly's chief. Phillies relatively inexpensive DC and Boston are both expensive now okay Seattle is too so I mean maybe they're used to it but going down the list I'm looking for. It's always a kids' behavior because there they have to go where they can get. You know electrical engineering majors in the robot a majors to live and and I don't know. That a robotics major from MIT. Is going to be real enthusiastic about moving to fill you know with Nike and I doubt that very much are gonna wanna go to Washington you know what city could be a little bit of a sleeper and all of this is Charlotte, North Carolina. Yeah you're right in the Carolinas in general. A young inexpensive they could be a bit of a sleeper -- I wouldn't doesn't Charlotte right now they couldn't wood about Raleigh Durham not big enough hole not big enough it's you know der my parents of down in that area it's just not up population does not know if there but then what do you rate plea -- get away and -- you use you can get kids to go there I think when it for the long run but they've said one of the things that Amazon says they're looking for a city with they've metropolitan area of greater than a million new okay Roger doesn't happen but we should have a little IE of the. The prediction board ready to go there Tucker the Alameda most of Eric. Let's go based on each oldest person gets the bill person that would be neat. Yeah that's that's there. Eight honor or duty skids. Good to set the rules right now I'm gonna predicts. I'm gonna predict Greater Boston Fran on rumors and I'm homer you know among homer. I think you probably right but I'm gonna I'm gonna give you something different on the go Charlotte as that's with as a sleeper could pick it pick and factory here are still writing. I'm really far from Carter. I'm gonna say New York keep it simple it merits a Boston Charlotte New York those are three predictions. And folks and those sharp either way. Going off the board. A guy upside pick right there it's it's a big win whichever city gets in my opinion don't huge I mean again you're talking. They think about it from the perspective of Massachusetts if you get another 25 billion dollars in wages that are coming through (%expletive) tax revenues you get from that you've and housing values what happens to housing. Yeah what happens T your schools and media all the sudden you you know if you have average wages and 3400000. Dollars and you get 50000 people making those weekends and think about what else is potentially doesn't mean we are you had GE Tom last year and then if you potentially at Amazon com and it's a pretty strong as he stays in business. This. There's a efficient the yeah the thing I think the reason I'm gonna predict. Boston is strictly for the education and indeed. Dead to have access. We we cover story later about IBM investing in MIT in there put a quarter million a quarter of a billion. In to MIT. You know that that type of expenditure. Is is significant. And and I think it is certainly relevant to the conversation they coming up. We're gonna have a conversation with Jennifer. Do Louie from Bloomberg. The date there is a story that I came across an idea I'll read you the headline it's really needs to be talked about. Receding floodwaters. Expose long term health risks after Harvey. You know one of the things that occurs in the Houston area is it is a Petro chemical. In just a chemical headquarters for the country and it tends to be dumping ground what do how many Superfund sites are in Houston. Eight it is 28 in Houston and in the surrounding air there's an additional thirteen cents 41 in total. Yeah do what you think about that and they're all underwater in a what happens to all these chemicals will lead the yet. Regurgitate it and put into our water and food supplies so we're to talk to Jennifer about that exact topic. Next from our financial exchange radio network. Trumps administration hasn't passed any significant legislation yet but tax reform is front and center at the end of the year. Keep it here with Barry and chuck for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. If you're hard worker and have created a successful business I've got a message for you that can help that business thrive and grow hi this is very Armstrong on behalf of the US Virgin -- economic development authority the authorities' economic development commission offers a tax incentive program for companies located in the US Virgin Islands I'm talking about a competitive offshore tax benefit program that is sanctioned by the US government and allows your business to lower its corporate tax burden by 90%. That's right 90% does that sound too good to be true it's not many US businesses are already taking advantage of this tremendous program if your business owner looking for tax breaks talked to the folks at the US Virgin -- economic development authority log onto their website USB IE DA dot or that's US VI EDA dot -- don't miss this great opportunity the website one more time is US VI EDA dot org. Hi this is Barry Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Ski joining you here for a quick legal exchange tip and taught I wanted to talk to you about the east trusts. Do you in that need to create trust if you already have a will get that question alike you know like I buried underneath trust I've got a will. You know sometimes talking about the basics is most important and in your right and people are so confused they'll come and say. I have a will lies they plan is done or what but it's really not folks and and and and the reason is once you ask yourself that question so if you just have a whale just ask yourself this do you wanna avoid probate. Well if the answer is yes will not doing now atlas you don't own a house if you owned nothing if you're poor. Will probably spices does it could designate had no assets make sure you put like designated beneficiaries on your bank accounts your brokerage accounts. And you don't and trusts are for people that have accents greatly real property. Got money in brokerage account you've got a piece of rules that immediate two pieces. I think that's fair I think that the safe thing to do it if you if you want an ill will as the wall as it won't avoid probate it will reduce estate taxes you're right if you don't have. Anything you know the only need a million in mass to have an estate tax though we'll won't reduce your state tax it won't avoid pro but it won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that will will do so I think the answer to the question is yeah I think you need more. That it will most of the time time to get back to the basics folks call Cushing handle and get their guide about basics of estate planning. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com it's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges live on FaceBook and YouTube watch Barry in show and discuss the issues of the day and see which one smiles the most. Is who's the financial exchange radio network. Did the coolest and we opened their first grocery store in the acre neighborhood of Lowell Massachusetts in the year 1970s. Bruce from Abington had the answer before anyone else persisting Newman 25 dollar gas card as his prized. Trivia today is brought to you for the US Virgin Islands economic development authority. The US Virgin Islands is one of the most competitive business locations in the Caribbean for companies looking to start a business relocate or expand. Take advantage of incredible tax incentives that are fully sanctioned by the US government for more information visit US invaded dot org that's US. BI ED day. Dot award. There are eight we're joined now by our good friend. Jennifer delete from Bloomberg to talk about flood waters and benzene and I Jennifer welcome to the show. I get so help us understand first off for those of us who forgot our high school chemistry what is benzene. Well for benzene is a it's that sweet smelling a chemical that naturally apart. The crude oil that comes up with a county egg and ground and it made in the gasoline. It's also used as the main you know first ingredient feed stock for plastics and pesticides. But you know it's also Carson again and act linked to leukemia and other blood cancers. Okay. Great to right now there's no evidence that spending his it has made it into water storm waters or other waterways around he's been. But that the comparative that spending and so many other chemicals that kind of you know one through this petrochemical complex that is speech he's been in the Gulf Coast region. That with spilled coming from. You know chemical facilities with runoff from various sites. Bed and even paper plant sites where cleanup has been going on for quite some time that some of these chemicals into. Intensity may in fact Leach into the ground speed moved around. An and and frankly that there are some long term chemical exposure risks. You're up by her heart rate. Well didn't we have a chemical plant explosion last week when the refrigeration stopped working. Right I mean there's I'd bet it did that was one of that the first. Clear again hold them that the devastation when that are in the facility. Had those explosions. Which is still being investigated. So what happens you know idea of at my farm I have a well in the backyard. Is it the is it if you're in Houston in you have a well. If for your house. It sounds like that might be contaminated. Well throughout the southeast Texas. Throughout that whole region in fact water facilities are wastewater facilities that are not operating fully dump have been off line. For days now are warning that there is raw sewage spirited risk of that peeping into the ground and containing price that wealth. Because get of course they're not as deep in about water isn't going to be treated. Drinking water pub drinking water supplies very different issue but if you the private water well in many areas you are being told to. To boil or use other supplies at that point. What about that Valero facility where there is and I think that if the roof collapsed and who was there or not. A release of benzene at that Bolero facility that was in so much trouble. Right that they reported that after yeah LA if they were inundated with water and a tank roof collapse partially. They've been reported to the state it's six point seven counted benzene well what's released. There's a lot of questions about what may be in the air around that facility and today that there are other chemical facilities in the area. The local health officials. An environmental group in the EPA have to have monitored air and in some cases these very high concentrations of Ben being tethered to can turn out. You know maybe there's an ongoing leak not just that original one baby at some other facility. They're they're checking that out. How many EE they're dozens of Superfund sites in Houston area and they all underwater right now. No it and of course water tackle have receded from a number of them direct thirteen federal Superfund sites that were believed to bully beef flooded not too which were particularly a difficult to access and are sort of aren't going comparing their their. EPA is doing on going assessment there at their initial signs of damage at one of them. Which is that it's an old toxic waste pit. I was used her you know paper and and Pope waist and and there's concern about a you know dioxin and another carcinogens at that site. I'm a protective cap that there. It's over those chemicals in them kind of disturbance that was just reported last night so that's the sort of ongoing concern. Why would they put a Superfund site. In an area that could flood the immune that just seem like a mistake. Yes I mean I think there are a lot of mistakes associated with these sites which word corrected do you have decades ago many of them were illegal dumping site some of them are both added dump site but. You know decades ago we just didn't have the foresight I think that we do now and now we're left cleaning up. It's method then and these are tough police sister mediated and cases they are using these caps over. The chemicals that the pop. To you know pull bully pulling up the soil I mean it's it's a tough challenge and the problem is this stuff is buried from decades ago if that it and and whether it's in the floodwaters have they're not if it's there. So no win you mean you look at this you know are we gonna be dealing with cancer risk in increased levels of illness. The next 2030 years because of the hurricane. You know I think there's there's actually at the bit hopeful note when you look at what happened after Katrina there were they huge concern about cut a toxic gumbo. I'm being conjured up the night in New Orleans after Katrina and no sampling of years later indicated that you know the waters were not to particularly onerous that there weren't high level that talks in any more than you with the after a major storm. Water just you know local storm event. Filled so that's an encouraging sign and I think the folks who live in the shadows of refineries already live with kind of a fear. The long term health threat just from Munich daily exposure keep them low level missions that are acceptable deemed acceptable so. You know there's always that concern I think they're they're hopeful stories that came out of Katrina in terms of did the devastation there being less. And didn't get the chemical devastation perhaps being left spent here. Jennifer dare I ask what kind of exposure risk we have in Florida in two kind of you know chemical and refineries I don't think everything at Florida's the big refinery state. No you're saying you're much more integrated Florida's much more insulated Ben Ben that Texas which of course prides itself on its petrochemical complex at that. Bear Superfund site in Florida where yesterday. Crews were out you know making sure barrels were being pulled away. Trying to do what they could do to secure the sites that work is ongoing today. You know they air at some point you're riding out the storm but in terms of the number of complex this sport is in a much different position. Very good well we very much appreciate your time Jennifer and will stay in touch because I've got a pretty good idea the story's not over. Not much Jennifer delete from Bloomberg and you know the more you learn. About Houston. I have to just say this in and and I'm very sympathetic towards the citizens of Houston. But the city planners in the government of Houston what I planners has done a terrible job in protecting their citizens well they have and you know this is this is one of the things where we talk about the impact of regulation or regulation has huge upfront costs announced the construction and so he or nominee anti regulation god that this is this this case struck. With a lack of regulation right in Texas is gonna cost every everybody is listening to the show right now. Is going to be your your taxes are going up. And you're gonna pay more income tax. As a consequence. Of taxes incompetence. It's exactly right and if and why is it unfair. It is noted that there's a balance to be struck where you need some basic. Regulation just kind of say look here's what you can and can't do when some of these Ayers is as you said otherwise you've got these Superfund sites that are in Britain next houses and stuff like that. Those are the client yesterday and he said you know Berry why should my tax money my federal tax money. He going to Texas when they don't even have a state income tax in Texas why you know the so there is a mindset like that we here. People are are waking up and say hold on how to what's the price tag on on Houston. And now we're gonna get another bill for Florida writes a gift to states impacted that don't have a state income tax. And the residents and paste a lot of tax or sand. Hey and open it up in this is why you have basic federal standard so that you don't have to have those perceptions. Tie. If people are justified in my opinion people are justifiably upset. Will be back. Right here. From the financial exchange radio and. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are re. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed 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 means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. 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 leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the -- equal housing -- -- -- is number 449250. Subject -- credit -- -- -- a step ahead hi this is Derek strong with an important message for you and your family if you had a successful career and haven't yet taken the time -- plan for your future now's the time to make that call -- -- -- and senior partner -- -- -- have been helping families like -- with -- state plans for more than thirty years and he's got a brand -- -- out this -- called back to the -- -- help you learn about the bare necessities needed to -- -- -- state plan but will also educate -- on important items like how to avoid -- and passing your assets along to your family -- -- handle right now -- 8668485699. And ask for your free -- today that's 8668485699. You can also download -- -- right now by visiting them online -- legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free -- today protect your assets and enjoy your -- years 8668485. -- about higher -- And more specifically we're talking about required. Minimum distributions. Chuck when you hear that frees. Invariably. Somebody you'll kind of have this blank stare in their face because they don't know it's very hard to calculate how much each year you are required by law to take out of your individual retirement account. Yet the way it works is remember that you get a tax deduction every year when you put that money into the IRA. But eventually the government wants to get that tax revenue and so what they do was starting at age 79 or seven and a half. They require you to start taking money out of you or IRA and it starts off as a relatively small now but the problem. If you don't take that amount out when you're supposed to do. There are some very significant penalties that you can and pain and by the time your eighty. The money that you have to take out the percentage that you have to take out of your individual retirement account is a lot more than it was at seven it grows every year so it starts off at about three point 7% that first year and it grows and when he get into your mid eighties starts to get to the port port seven or 8% so it does grow significantly in you have to be aware that that number changes each year. Just a suggestion here but folks you might wanna call Armstrong advisory group and receive their 2017. Retirement plan distribution guide. The phone numbers toll free 800. 3934001. That's 803934. Zeros or one. For those of you who want it right now. We can dot download the guide by going to our web site financial exchange showed dot com that's financial exchange showed dot com for the 2017. Retirement plan distribution guy. I'd securities offered to securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American 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 it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seventy and a half you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a 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 refinances all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available online so logon to leader -- dot com right now -- leader bank dot com -- -- a step ahead. This is the financial exchange with Barry Armstrong and chuck sub out. You're exclusive look at business and financial news affecting your day UC. Your world stay informed and today about economic and market trends plus get breaking business news every day. And now the financial exchange with the query Armstrong and chunks. You know many of us. And time looking for data and research that validates our own opinions. And here's something that I wanna read you from today's Wall Street Journal. New research suggests a significant. Portion. Of the post 1990s. Decline in the labor force participation among Americans in their prime working years. Could be linked to the open you wait epidemic and chuck is as long as you know I've been working together. We've talked about the lousy labor participation rate people will not get off the couch and go to work. Will now we have evidence which we alluded to in the past we've talked about T is it drugs and alcohol they're keeping people from go to work every day. Now based on current research was conducted by Princeton Princeton University they are suggesting that yes it's drugs is specifically it's OP woods. The end this is research that now was done by Princeton economist Alan Krueger who looked at a sixteen year period from 1912015. And said that look there's chance that the opener painkiller epidemic. Could've resulted for about 20%. Of the decline. In workforce participation among men ages 25 to 54 so did you understand this I think it would they're suggesting is that. Open your aides are much greater problem among men than they are bungled and in here's what's interesting on this is. You know we hear all of the headline numbers where you've got you know 4050000. People a year that are dying of OP where at this point. Not ever when he uses them dies okay you live a long time just looking at the death numbers does not do justice to how many people are using prescription OP which you shouldn't be there. There is a huge number of people out there who used them. And don't die instead go to work many of them they they might go to work or. They might be impacted the point where they can't go to work but they're still using a and that's what this study is trying to get at it's it's not just the people. We're dying from OP ways but it's looked the people who are suffering from addiction and either there there were performance is diminished Boortz damage to the point where they can't work. That is having a measurable impact on the economy as well well. Needed to make up a point. When you go back to the early 2000 which is admittedly the economy was overheated. No labor participation rate in early 2000 with 67 point 3%. But the unemployment rate was about the same as it is now. And today the labor participation rate stands at 62 point nine salute just put that in perspective folks 62 point nine today. Vs 67 point three in 2000. And in in terms of what this means in terms of actual number so you're talking about yes somewhere in the ballpark. About a 44 and a half percent decline in the participation rate. Probably people if you're looking at 20% that you're saying it's about two and a half million people that have had. In addition reduced out of the workforce because of the openly epidemic and if they can't pass a drug test. Right pretty good up and pass city campus drug test it you know big job function jobs where you just need to be able to show up to work. Lot of times again if you if you know anyone who suffered from addiction than. It is something where they might be okay for a couple weeks and all of a sudden the eagle on a better they can be. Hit it to work well it's. You part of dead differential between the 62 point nine and 67 point three I don't wanna be misleading. Part of that is due to the aging of our society. But certainly not all of it and now there Princeton University is basically coming out and acknowledging. A lot of the problems related to drug use. President trump. Stuns. The Republican Party by dealing with the Democrats on debt and Harvey aid. I've got to tell you. I I've been an outspoken critic at some points. President trump. And I think this might be the smartest thing he's done in quite some time total body woody did and then I'll tell you why I have such a high opinion. What he did he pretty much accomplished three things in a span of this meeting he said look we're we're going to get this Harvey aid bill out there and we're gonna attached to the debt ceiling race for the next three months as well as the continuing resolution to fund the government for the next three points. So what he did effectively but he did it with the Democrat either with the Democrats but he cleared the decks so that he can say look. I've gotten all this other crap in your eyes wouldn't deal without it away now what we're going to do now is we have the next three must focus on tax. And and he's put the ball in. Republicans he wanted to say he's saying look. I have gotten rid of all the problems that you guys didn't want to deal with you might not like what I did but I got running almost rob you're so I'm sure they are. But. Now it's your time to put up or shut up you've got three months and if you don't do that I wouldn't be surprised you start saying stuff detector for. Time for top read by people to primary you because you're not get the job done well. And in what I like about what he did lose he he he's basically spanking them for not doing health care. Right it is Archie he's saying to their Republican congress he has lied to the American public for seven years. He didn't do your job you did give us a health care repeal billions nothing. And as a result he stand up and and what is it's a tremendous. Shot across the bow it is at Paul Ryan. Right it I wonder if he survives it's from the leadership perspective. I mean Paul Ryan effectively has zero political capital does it he's he he he's not someone who has the where is he showing that he's got the power to pass any legislation. He has shown in and it and I wonder at this point what he's even still doing with that leadership. Well my compliments to president trump the I lose. Very quick to criticize him and this to me. Is is just a demonstration. That he's not gonna put up with political crap. From his own party now and and east I think its punishment for not the way they handled health care that just by I agree. And I think it's also the right thing to do. However Gary Coleman. His days in the White House may be numbered doesn't look like he's going to be the next Fed Chairman. The other word according to one article from the Wall Street Journal was that due to his dissent. From last month after the the Charlottesville Charlottesville events is that Gary Cohn is no longer. In the driver's seat to lobby the next Fed Chairman would Janet Yellen is term expires in twenty team. It raises some questions about who is in the drivers seat since we know the Janet Yellen is talk that paper I might be looking to step down even if nominated for. Second term and I don't know that you don't know nag I I look she she's. An elderly woman who has some health problems. Ito should she stepped down. Perhaps but that is if you're an economist. That is the best job in the world that are not I can't think of a bit for an economist to be service Fed Chairman. Best job in the world so in what she thinks physically she can't do the job anymore I think she would stay on and we are hearing that she's getting along splendid. She apparently getting along very well Donald Trump which before the before the election we know he was critical of her we know that she its I don't not gonna comment. They're getting along very well they talk every week via the knee you know and so. Two but go at getting back to Gary Cole who's a very qualified guy Goldman Sachs guy. I will you ready for prediction on the prediction all their talker I've benevolent to would one day. To the wallet chimp. Yeah and year after remember this when you sign in with Calvin Johnson and I I think Gary Coleman. Will be resigned from the government before January 1 of eighteen to nine I agree with that one you I think he leaves the White House. Before the end the year agreed I think it's either going to be because a they got tax reform done and hey I've accomplished running gold beat. I don't think they can get tax reform done and he wants just get out and get back in the private sector knee he can't be enjoying working in Washington. Zones I have to imagine is a little bored. Does that ruin your previous prediction if you will become fed chair then yes aren't did I did that disputed. So happy that we of this wall at this point the walk we're called the wall of shame. Right said that on July 26 of this year act July 26 I thought he would be the next hasn't even been two months. Yeah 08. In it did the beauty of making a lot of predictions as some of them come right. The law of large numbers the more stuff that you throw out there. The more chance Yancy right now and I'm gonna have to start tearing down all the ones that are wrong lot of extras out of a field and it's gonna start editing them you know. We're gonna commit one way it's going to be take it is going to be completely different from what it was the day before a white out. What is the NFL. Doing to get fans back with Eric is viewership numbers are down what 8% 8% last year. And so they're they're trying to improve the product they're they're moving some commercials around. The trying to get better match ups in prime time event let's get to that because this. Isn't that the big criticism like. Who's gonna watch a game. Between the Jacksonville. Jaguars in the Los angels Reagan's right I mean double in the Thursday night schedule Sox Cleveland Cleveland is currently do they have a better Thursday and it's you know this year everyone has to play one Thursday night games. So late Thursday night game is built to be back guest offering penny to Garrett thirst in football it's an absolute joke. Now they make a lot of money. I think. Let me pull up the the schedule for 27 team yet others and it's Hitler's waters in this tonight. This is you as a big woods and you've got tonight obviously there's game which is going to be good game okay week to Texans angles. Bad that's our that's OK I took a week three here's where we get into you know the really bad ones rams 49 brawl caught that's awful. We all week for bears Packers we do accident on the people liked the bears terrible. A week five patriots Buccaneers at least you got New England against someone wants and some just hit New England no Eagles Panthers. Decent chiefs raiders pretty good game there and Aaron and then here's what we have coming up after that dolphins ravens grows off. Duels jets even worse Seahawks cardinals could be okay. Now that's higher than last year titans Steelers will be a decent game. Giants Redskins. As is better than last year Redskins cowboys saints falcons and Broncos colts so there's only like five terrible games out there this do you believe last year was just. It was crap after crap after crap do you. Think the viewers come back that's my question because I'm not a football guy AD do you think Pitt people. Come back in May exceed. Their 20502016. Was a wash down 8% year if you were same store. That's a terrible numbers same store sales down 8% do they come back and exceed their 2015 number that's a fifteen or sixteen. The ST no. I think they beat 2016 but they're not acceptable level they were at fifty I agree. That means the games on interceptors receding. They coming up. We're rejoined by Geoff Reeves for marketwatch.com. Or be talking about stocks that you should be putting on your radar screen grab a pencil and paper. Because stock stock is up next from our financial exchange radio net. Work markets continue to fluctuate but we've got you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio live. Work hi this is -- -- with an important message for you and your family if you had a successful career and haven't yet taken the time playing for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's keep have been helping families like yours with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics -- help you learn about the bare necessities needed to create an estate plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now at 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them on line at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 8668485699. Or download it right now at legal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if you were small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank for a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and that ray does a lock for four years any democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application 8776917900. Call right now 8776917900. Member S. DIC this is very Armstrong from the financial exchange did you know that once you turn seventy and half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a poor they get confused as to -- to take -- fraud if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web -- financial exchange showed dot com. Juries are 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 hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to view this as the financial exchange radio network. This segment of the financial exchange brought you by easy race to. You're landlords take advantage of the C rent it's a fully automatic online rich collection tool that is free for landlords with an account at a participating bank can always refer tenets. Sign up and have written checks deposited directly into your account. Call 8776917900. Or visit Z rent. Dot net for more information. Joining us now to talk about a few retail stocks is Geoff Reeves from MarketWatch Jeff thank you very much for coming on. What appeared Jeff would start first I want to start the third one on your list actually just it's the one people are most familiar with and that's Costco. Is is this company that you are bullish or bearish on at this point. I pretty village on uncut I can't go because you know that your practice. Kind of dropped off in June mostly because of the news that Amazon has partnered up well hopefully then it got really big had a negative. New speed Cohen caught it in the whole retail sectors specifically in. Company bike cop go that also have grown trees but look pepper tablet hold true. It actually competitor any way shape or form with with Costco I admire it doesn't talk a lot of racquet in the fresh food business. I may be competing with caucus there but it would still along like that happening cargoes and fighting off the cut and it condensation. Of retail fuel. For years now doing it with great success in part because at announced part model as it's kind of more people aren't something like Costco B warehouse clubs where you have a regular membership. How different some of those low cost in the low margin so a couple of the well run company epic history for very night valuation right now considering the off. And the fundamentals are good I I I indefinitely bullish on the stock particularly if that's right. We have any idea what kind of overlap there is between Costco members and Amazon prime members because that they'll be one here that I'd be interest in looking at. Why do we have almost zero visibility into much of prime at all and I just start are kind of separate out subscription services in an educator revenue that they do it. But there's no sense of the actual number. Of prime numbers that are out there of course people have made after the Mets right to a full on Saturday. And I can't extrapolate data accordingly. But am satisfied that very close to its debt which you can that if they ever get that information out there are going to be like. When they did that for Amazon Web Services. As investors have been very hungry for it to validate the power line. If I got a rated for Amazon stock buffer around. Between now and we don't know really what the specifics are. We do know about called Canada. That they've proven that discount model and membership model decade before anybody I think that it you know Costco is definitely company you can believe. The one question I have about them do are they building anything out in terms of a rapid delivery system similar to Amazon because that is one place that. I could potentially see them losing some ground going forward if they're not investing. Yes that it took about our knowledge. Cop goes not really go until it's with you know that kind of drone army or any of that big future. Plan that we hear about from Amazon. Whether it's gonna do it seemed a delivery pain power delivery. You know called good doesn't have. It's been the model that an odd that this doesn't these warehouses but there were houses are retail banners as opposed to. Amazon which is used to distribution facility here adequate because it Costco could deport strategy like that. But you know what the power of the console model isn't necessarily. Making things easy to being like Amazon. It is more about he we needed about price too you are quality people talk even about Kirkland. Of vodka and different stuff that they get from Costco that it expects higher quality item for the prize. There are a little thing called car accident at its with the convenience thing is that kind of had its own called the same way Amazon does. I wouldn't be worried about at least in the near term. Let's go over talk a little bit about dollar tree obviously one of the that the discount retailers out there and we know that that area has been somewhat of an up and down. Industry over the last couple years here where do you see them going. I like -- because what are the big gains against Wal-Mart was always that they were kind of in the suburban way to plan to rural areas that work you know it it's very difficult model. I'm trying growth there are actually just compete on price and Amazon. Up undercut Q bit the beauty of dollar tree is that I don't have that kind of discount model. But is there in a lot of urban areas and then you know with the merger that we saw. You know couple years ago. Which barely dollar it helps. You know be increased thirst scale. Are not let's start to have seminars apparently dollar tree and Dollar General they emerged out. But at any rate they kind of rolled up that space they have these urban center locations that Wal-Mart I think it's as big box stores into. But the bottom line is they felt staples Intel on cheap and it felt conveniently I suppose you could get that stuff delivered. A lot just you know walked a couple of blocks down or take a two minute drive you're going to be out anyway. Picking up dishwasher detergent you want to wait to order on line I don't think they necessarily have the kind of they've disruption risk. And other specialty retailers they do and it always gonna get our little used. Below market than in the important thing to remember you look at her recent earnings report purchasing growth here they're they're predicting double digit growth. In their profits they know how to make money even on loan market product. Again it's one of those things were I don't think if they're they're facing the same risk. You know kind of the drone disruption. You might see is going to be specialty retailers you know three to five years Amazon is still aren't such your door instantly. I think it's historic that this Stanley dollar should be okay. Or did Jeff thank you very much of the time. Geoff Reeves with MarketWatch in two companies that we are talking about there if you do want to look them up on your own. Dollar tree has the ticker DLT. Are and Costco with ticker CO ST it kind of go to Costco. For things that you would quarter on line there's a lot of impulse shopping done when you walk through most of Costco. I've thought about getting membership I don't have one. Right now you'll get one when you have kids have I thought about getting one. But I just can't have. Kids it's multiple tours and a I just shrug it off of this. Let's play and he uses it's one of those things just trying to like let it slide and then navy goes away your mother gives me twenty bucks every talented she you must be on her payment. You have to get as well Ricky can't do this of your own volition. And anyway time for trivia. Around this time three years ago market baskets majority shareholder sold their 50% stake in the company to Arthur T doubles for one point five billion dollars. Ending the summer long market basket saga. So that's our topic for trivia today. How many stores does market basket currently operate now remember they started off with a single store in all. Back in 1917. How many stores does market basket currently operate our tech's number is 68680. First listener with the correct answer wins a 25 dollar gas card. And while the answer when we get back from our financial exchange radio now. You've got Barry Armstrong. Financial exchange shall look I mean she'll exchange radio network. 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 it just makes sense give leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn said Indian half you are re. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a poor they get confused as to where to take it fraud if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for to securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is -- -- with -- an important message for you and your family if you had a successful career and haven't yet taken the time playing for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it will help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing and old right now -- 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them on line at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your -- years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks -- hassle out of rent today we're zero and leader banks all mine rent collection tool he ran automatically deducts tenant's rent and deposited into your account visit WWW duds he ran 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. Very our churn here and I'm joined by vice president Jeep tool from leader bank. We're talking about easy rent this is exciting because zero rent isn't method for landlords to collect their rent electronically. But there's now. Find refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. All right so is he rented the product we innovated leader paint. Comedy can be found it WWW duds the red dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic. Tenet's so there's several advantages first you can say goodbye to being reliant on the use Postal Service. Goodbye to delays in the mail and no more need for paper check right where Israel and a laudable ideals don't even have a checkbook. We're getting that all the time Elaine horrible call in and sign up because his tendon saying you didn't checks the where this really starts to get funny is we knew if your landlord and you have. Multiple tenants living in units this grad students near university. Well right now they're all writing multiple checks and sending them in and for a landlord that source become confusing pain in the neck so would you read will do is you'll actually deputy each tenant can individually. Matches in 101 payment for that unit to landlord. And then of course there are some reports in notification to all electric stuff. But going back tier question a Condo association's a lot of Condo associations have been using human as well because the Condo payments that kind of the shirt do every month at the same so they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like something that you need to learn more about folks visit. Easy rent dot net to learn more that's a website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks get with the modern age go to easy rent dot net or call them toll free 8776917900. They say video pads ten pounds. But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. It was. According to market baskets corporate office the company currently operate seventies story. The winner on this question was and from Holden Massachusetts and is taking home. 25 dollar gas card to mobile I'm surprised. Interview today is brought to you. By the US Virgin Islands economic development authority. The US Virgin Islands one of the most competitive business locations in the Caribbean the companies that are either looking to start a business relocate. Or expansive take advantage of the incredible tax incentives that are fully sanctioned by the US government for more information. Visit US invaded dot org that is US VI EDA. Dot war. Right Sports Radio talk show host Craig carton. And another man were arrested on Wednesday on charges of bilking millions of dollars from investors. In a concert. Sell ticket selling scheme. Yeah effectively this was a criminal complaint that was filed in Manhattan federal court that accused Craig carton as well as a man name Michael right. Of defrauding investors saying that they had access to artists management and doc could secure. Special tickets and so forth then resell them for higher prices when in fact it was pretty much that they were running a Ponzi scheme that's the accusation here. And so. They were both arrested and charged securities fraud wire fraud and conspiracy. This is obviously you take a little bit of time to play out in the court of law. But I would imagine that his co host Boomer Esiason might be looking around for someone else to co host. In the near future just because you don't want this hanging over the show well yeah she's the I would think his careers over when you mean. There is less the charges are our fault it's been I mean this kind of stuff this is not a small amount of money and not something that appears to be over a short time period so. If this turns out to be true I have to match he's gonna have a very difficult time getting into the another job. The tally for damages in Houston. Are not complete we've heard it's going to be. You know multiple billions of dollars that are needed to clean up the mask and then we still have are about to hit Florida. CB looking at I don't know the numbers say I've given up trying to count but let's take a look at how what companies are gonna benefit. And you know the list is pretty long could you think about. I I just look at the photos. Coming out of Houston. And in every front yard. Of the houses that were flooded chuck you have piles of personal belongings and I'm talking about. So for news. Bed mattresses. Bureaus. Televisions I mean the list goes on and on and on basically all of the contents of many of these homes. Our were destroyed in now now sitting out on the curb what being waiting to be picked up. And not to mention the damage that's been done to those hall. Yes so looking at the the types of businesses that are probably gonna see some robust sales in the wake of this. Obviously Home Depot and Lowe's Companies that you know or going to be able to benefit from you know whether it's lumbered drywall on Leo electric supplies whatever it is they're going to be a major beneficiary. I think your basic retailers probably people restock and just try to you know get things back normally for groceries and stuff like that. That's going to be a pretty important businesses well. I think that you know you mentioned these personal belongings a lot of cases ruined so. Companies that are big and furniture you know like a key or something along naturalized mattresses actresses are expensive. They're not cheap and it paid you know they've been underwater for a week. And you know tonight at Wimbledon that I think I know and so. I think that all of those necessities are gonna be the area that you first seat. You know additional sales down in that area. On any particular just to put in perspective when sandy hit home Depot's sales increased for about 500 million dollars for four quarters after that event. That's from saint 500 million dollars a quarter for four quarters so. I think what you should anticipate. Is that. Q4. GDP will be negatively impacted cues three and four. Will be negatively impact up though Q4 byte rebound pretty quickly. It because Q4 is gonna have it's going to be clean slate well and it's an and a lot of people are gonna be desperate right like if you need a new car. You're gonna beg borrow and steal to get that new car will be at the other thing needed new mattress you're gonna borrow the money from your dad would go by the new man. After what do you think this does two things like lumber costs concrete cost things along those lines mean I have to imagine those are gonna be going up as well. Just because you're gonna have some short term shortages just because. You didn't have you know again though lumber and feels as though we're yards up in Canada weren't sitting there saying oh yeah the turkeys come Morgan haircut more trees they were just doing what they were doing. In LA it's. There's money to be made. In and I hate to boil everything down to finance the that'll do names of the shows the financial exchange. They don't forget it during the month of September he could call Cushing handle it. And receive their guide it's called back to the basics a complete guide to a state and asset protection planning it's been prepared by crushing indulge. And you can get one for free by calling 86684856909. I know most of you prefer to get it on line d.s go to legal exchange showed dot com to get a download version. Or you can call 8668485699. Travelers are complaining of air fare gouging as hurricane Irma approaches and with good reason. I'm looking at a united flight eight. For 17138. Between Miami and Indianapolis. And 2370. Dollars chuck for an American Airlines flight between Miami and Los Angeles that to me is get out. So I don't think it's gouging and also most airlines at this point have also removed a lot of those fares and moved to. Lower fixed fares and added availability out of Florida at this point. JetBlue as an example is capped fares now at 99 dollars one way for nonstop flights from any of their Florida airports American is done the same thing. And delta is doing the same thing. As well but at a higher price of no more than 39. Sounds like the need to give out by Saturday. That is ideally like is tomorrow as noted that the path though Saturday morning probably. Lousy Sunday at the odd was when when it's gonna hit highly populated area so they don't know that the that's the thing that you just spent 2000 bucks out of there. And it could swerve off to see down and I know not developing its. Have been a lot of extra capacity added to watch these airline trying to get people out of Florida but the thing after a member if you're trying to book a flight two days out anyways. It's typically going to be around thousand dollars no matter what is it just because. That they're typically the only people were typically booking on two days' notice the business travelers. No doubt who plans a trip on two days no arrests and so the reason why you have higher prices when it's that sort of timeframe. Business travelers don't care is they just build back to the company does not coming out of their pocket. Until you've ever tried to fly on short notice. You never find hundred dollar flights you know. You pay for. Harvey has paralyzed a critical part. Of the US manufacturing. Supply chain Petro chemical facilities and oil companies are still restoring service to the Gulf Coast so. Houston is not open for business. No we talked about this though last week with the potential for the disruption and ethylene production which ethylene if you're not familiar with that it is. One of the big east petrochemicals. That can be turned into various different types of plastic. And so anything from milk cartons to you know little caps on shoelaces that anything that you're you're talking about you know computer mice things like that. It's involved in the production of all of these different products and so when you don't have the based product. Unfortunately it spills down into the you know the rest of the ecosystem. And so we either have shortages in his other products okay. Or the end up having higher prices okay. Even you talk about the need for things like band aids and so forth down in you know some of these hurricane areas but you can have companies that pro producing a bandage just because. They don't have the ethylene in order to get into production. Bedard. Ari companies continue to leave Connecticut GE left Connecticut for Boston Massachusetts Pfizer left Connecticut for Cambridge. And now another company is leaving Connecticut will talk about that when we return from our financial exchange radio network. The financial exchange for Barry and chuck is live on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. 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Hi this is -- strong -- -- an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call -- and -- and senior partner Todd -- -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new -- out this -- called back to the basics it will help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family -- Cushing handle in right now -- 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free guide today protect your assets and enjoy your -- years 8668485699. Or download it right now at legal exchange showed dot com this is very Armstrong from the financial exchange did you know that once you turn seven Indian -- you -- record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a poor they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Securities -- for -- securities America incorporated member -- SIPC and advisory services are -- securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated if you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero cents and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male -- leader bank right now if you're interested in C ranked the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that tent and sign up for -- into upon the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period he -- does a free service if you have an account with leader bank and if not they'll simply cost you a small monthly -- cult leader bank right now and 8776917900. That's 8776917900. Or go to -- rent dot com for more information member FDIC. Security suffered through securities America ain't members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question had financial exchange showed dot com while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. Stub hub we'll be laying off and relocating nearly 200 workers. In east grand beat Connecticut. Yeah this it's going to be a a a removal all 197. Workers. From this facility and unfortunately another company pulling out of Connecticut. Altogether appearance of this lease expires in 2018 and so this center's gonna be shutting down at that point. And they are going to be moving aid this office effectively to Salt Lake City by February 1 when he eighteen. I don't wonder why you know what is it about Connecticut days cost. Well let's talk a day and what what makes cost so much less in Utah. And well let's pull up little cost of living and take a look now. Nominees is it they can they save that much on wages. By moving these jobs to Utah I don't know. Let's take no wonder how many people gave one of the things that's happening is if you work in east grand B. You may have the opportunity to relocate to Utah what do they do wanna do that us. So the other national cost of living index this is 42017. The first quarter suits or about 34 months old cost of living in Connecticut this is scaled to a 10100. Being the national average cost of living in Connecticut is 129 point 129%. Above the national average. In Utah it is 94 point eight so about 5% below so potentially about thirty save 30% savings on cost more employees what are they consent find the qualified workers. Indeed go to Utah you'd know unemployment keeps genetic stuff but that a lot of young people out in Salt Lake City user via an I wouldn't be surprised if that's the direction they're trying to go in. Just because I I think that they're probably trying to against a seat on cost and clearly the cost of living. In Connecticut significantly higher. CBS making a move that I like to be air launching kiosks in travel hubs in college campuses Smart move. I think it's good move for them as well obviously when he talked about the college. Option that they're putting in place like college kids. Think it's sick all the time we know the college kids always get sick and ever goaded doctor never go to the pharmacy just because they don't have the time they'll want to but if you start putting these in student centers and things like that you just have basic. Medicines and so forth Justina to the toothpaste. Paired nail clippers. Some shampoo would mean just think about all the things he might need the gimmick since there and obviously when you talk about travel how many times you get the airport you realize out Jia you know I've forgot dealer Alfred I. You know it's something where they give you the ability to make that purchase that you need right there in the airport I think it makes an awful lot of sense for seat the works out. And then Tucker I've got a deal for you here are at a mall layers. T-Mobile is now offering free Netflix in order to lower new customers. I actually looked at this I said. A bad deal. The basically if you pay a 120 dollars a month. For there to line plants that you could do this with your life via Turkey could do this to this actually save you some money. CD changer it but he at your service with them out Verizon AT&T. Etsy dumping AT&T dump arise and you go to T-Mobile 120 bucks for two lines. Idiot free Netflix account that I was here of T-Mobile signals awful is that they thought Tommy actually talked to someone on the phone eyes yesterday. The agent and sergeant. And it's clear from our that you think about like the phones now or an evil for Wi-Fi calling them so what percentage of your day. Are you with in Internet service for me. It's the only time I'm not on the road in them in my car Tim and I don't really talk in comical action. No I'd be interest in this how long is this do they say how long you're able to watch get this free Netflix is for the like the contract. I just don't we. A recruitment. Is not a T-Mobile this is John look air again and and yeah peace very Smart but they hate the eighties and competition hates it there I'm telling. This is a Smart move notes its interest. Because the way I look at it they NT Mobil's paying my parents back for college now there you go. Don't let 120 boxes still less than you'd be pain for Eisner who would be paid for using a rifle I'm on a family plan right now some like semi some bucks a month. I pay 55 months is the next would be. In upward move in cost yeah each it's a push you know the time of the we're we're down on world insulin plans there I don't spend money on non. Crap like data. Idea you don't meet to a Wi-Fi has every right. You hate about late you're in the office any office that is it just takes a little discipline and all you have to do is like not use your phone is much when your out you know not on Wi-Fi which is probably good Blake what do you do when you're traveling to use like it GPS system like away easier Edwards edged I was so what I've done actually. Is on Google Maps actually. Downloaded all of New England pretty much into the system and so which tracks right through there and so I don't have to use any data when amusing Google Maps. No. What does that do for error accidents and traffic it was a ticket before I go so that I play in Cairo before I go and and that way if I have to make any change of party kind of built that in mind my system. Guess the risk you run there isn't there's an accident on the road while your drives consensus in traffic you know such is life. Say five dollars a month and holy guacamole. The coddle prices rise to record highs opera content consumption has gone through the roof. I've got to consumption is up you also a small crop this year in both California and Mexico. It's a public auto prices are 75%. Since mid July Tucker if you noticed all I have an earlier big opt out of god by for a week. Do you really. We packed. I actually went to whole foods yesterday and I got them at a discounted Amazon rate at would you blow what's the I think it's like a buck forty man and avocados appointment you have to use your Amazon prime card to get enough proof that your product said discounted great. What do you what what's a normal price for not Connolly given on hole two for five. Usually so good personal who's on whose code US consumption of avocados. Has quadrupled. In the last seventeen years. Let's up the court before Daria other honest mistake that's a remarkable. Increase in consumption one word. Chipotle chipotle it's true reality church two dollars and nine cents for how much they charge us spoonful of guacamole that how much Glock is ya it's ridiculous. Hole. Our legislators in the House of Representatives finally did something the house on Wednesday passed legislation. Mean at removing regulatory barriers to development of self driving cars this is a victory for autonomous car vehicle companies. Yet it's good news what they're trying to do is building a nationwide set of standards so that. Companies can begin to roll out and test these autonomous vehicles he needed right it is and pretty much what it does is he gets rating it's supersedes any state and local regulations about autonomous vehicles and so it sets up a standard system so that you can roll these out from state to state. Which is you almost an important thing yet but what's bad is dissent is rumored to be watching this in and they're gonna kill it. Because they're worried about job losses mean talk about backwards thinking. Yeah I mean terrible like imagine him back in like the 1920s they'd say hey we can't allow any cars because all the horse and buggy drivers you can get all the Narnia. And I'd get pretty much what they're doing that demonstrates the intellect of arson in the house gets together figures out and we need to do so this. And the senators average age sinners but battled. I believe Syria and it's I think it's over between five and ten years here's the thing if you don't do this you're gonna see leadership in the there at places like China beat you is that it's going to happen so worked area. It's it's going to happen elsewhere you want to be the leader in this there's a reason why jet engines are made in the United States. It's because we were the first now we do it best because we actually mr. Beers disbursed. Don't get the way in my story I got up. Baylor it was scary isn't German technology. If they had been another six months are the opinion of the year. That work and it turned out a lot differently. Really. They would they were working on in terms of technology and things like and bombs. You know the it was east study World War II history it's frightening. Pay their market outcome a mixed bag today the NASDAQ is up but the Dow is off by 36 points in crude oil's trading at 4893. Per barrel. Gold is up thirteen dollars an ounce at thirteen 52. It's very good shot. From the financial exchange radio.