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Full Show 9 - 15 - 17

Sep 15, 2017|

Full Show 9 - 15 - 17 by The Financial Exchange

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

This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. You know there's a lot of breaking news that impact the markets to get North Korea again. You've got London major terrorist action in London you've got retail sales that came out this morning it was very soft. But we need to put this Equifax story today the fact it is your personal information was probably hacked. We all work. And now we begin the process of protecting ourselves from cyber crime. Hi everybody is very truck with you here it's a Friday and I know the temptation chuck is to talk about. North Korea and what we can and can't do to retaliate and we talk about London and we talk about the retail sales numbers but son of a gun we need to address this Equifax number and story. Because this is the one that is going to affect virtually everybody listening to the show. It is and it to give you an idea of what we've learned at this point. This was a breach that was opened for about six weeks from mid may until the end of July so actually about ten weeks himself seven to five days and pretty much. That what makes this been the most infuriating thing about this to mean is that it was a software exploit. That was patched back in March by the company that found the exploit. And yet. Equifax did not apply patch this was something had a solution they had they simply had a competent IT department. They would have fixed so this never would have happened in yet it did but 75 days the windows open yes. So how much information could face deal. In 75 days and do we know we do you like we know that they got it 200000 credit cards about 209000 credit card numbers but okay. And I have a buddy of mine it was down in New York who one of his it was a credit card what yet happened to him. Was he all of a sudden got a call. That someone had opened up a new law auto loan in his name to buy a motorcycle out in Ohio. Okay. And it was because all of this information was out there he's tracked everything down and got it sorted out now but it's taken the better part of a week to deuce and but effectively. What was out here it was not. You know small pieces and it kind of small fish out there. With you know email addresses. And things like that are passwords that you can change. What was out there was the holy Grail. For identity thieves names Social Security numbers dates of birth credit card numbers the whole bit address is four you know old credit reports and things like that. Everything you need to steal someone's identity. Was in this state to lead know who didn't yet know. It's unclear who did it to this point. And so. My guess is that there are number security firms that Equifax is working with and I bet they have a pretty clear idea. Of who they think did it. But they are not announcing anything publicly at this point. I think one of this is. This is one of those incidents that causes you to think about why we set things up the way we do. While guy in one of the things that bothers me about this it in ninety folksy need to pay attention to this 'cause there's a lot of solicitation now. For credit monitoring services the end. You know it we covered that story regarding life walk yesterday in how their orders are up tenfold per hour the evening. They signed up hundreds of thousands of new customers. But it was in fact Equifax customers. Who subscribe. To the Equifax credit protection problem product. The were most impact. Yeah and it just is bad the most of that remote. More of their data in there than the average person to make you wonder about the the the the validity of these credit protection services. Saw an eight here's here's my bigger question that I ask so. The weight of these systems are set up right now let's say that you are applying for a home equity now okay. A Banco go to one or two all three of these cried appears Experian Equifax or Trans Union. And they will file a request to pull your credit the way it happens right out pretty much automated they send that request and it comes right back and they say hey here's what we got four K okay. That's all possible because all of this data is located in central database that they can tap into that it's accessible and it's easy. The reason it set up that way the lowest cost there's no person involved in okay. Well maybe we need to start asking ourselves if that's the way that we should be setting these systems up because the only reason that Equifax and Experian and Trans Union set it up that way in is cheaper for them. It's cheaper than to have that automated poll as opposed to an isolated database that's not connected to the Internet with them person sitting there west to pull the data and send it back to the bank. One by as an increase cost it will increase cost exponentially it now costs like if your mortgage company your car company say sell cars yeah are. I think it cost you maybe seven or eight bucks aid to pull somebody's this might increase the cost 200. OK so it's going to increase the cost significantly and that will be passed on to consumers. But that's still is cheaper and easier arguing with all this crap it is such a nightmare when your credit gets the and I do want to bring up the topic. Is when this occurred. And I think the advice we gave you was to go out and freeze your credit I know the socialist chuck did an identity yet he knew of many view. Have frozen credit however. I also know that many view had struggled. In your attempt to freeze your credit. We were getting calls in the office. We use what what are some of the stories that you heard shock and some of the experiences that you learned of win. Listeners tried to freeze their credit. So it's it's been bad out there there are pretty much all three of the major web sites are. Inconsistent at best in terms of even being able to get you through to the PG to start the process. I've gotten emails from people who. Have spent all day sitting on these web sites and having gotten anywhere people who go through the process on the phone and get disconnected just before they're able to the credit bureaus are not built to deal with this kind. Of scenario. And it's it's because at the end of the date to them to the credit bureaus you are not the customer. You're the product they are selling your data they're compiling and turning you into a number. And that is. For more clear today. Then it ever has been previously. And I think they need to be major changes in how these bureaus are required to do business in the security that's required for them and in the way they treat their customers what you have to pay freeze your credit. Why. Again you go through this whole process online and instantly they tell you credits frozen. Why why should you apply to every your pride in his depending on what state you live and that can cost as much as sixty bucks right so you sit there and you say. Why why is there cost to me freezing my credit what does it cost them to do that like they don't have to go like pull some giants which like for the use the credit. The how the instantly via it it does say so let's take care first things first. The I know many of you struggled in your attempt to freeze your credit and and I understand why it's it's not an easy process to walk through. To that end. Couple days ago we created. It's on our web site the Equifax cyber security incident what it means for investors. This is on my blog at financial exchange showed a comedy gives you detailed. Instructions. On how to freeze your credit. And I I know I understand the struggles that you've had so I would suggest you just go to the website Amman at right now I'm reading the blog and it is. It's very clear as two years you're doing and I understand if you're neophyte at this you might struggle in in your efforts to freeze your credit. Go to the blog and I think you'll find it helps you. Yes they are and asked is would you participate in our poll today witches have you frozen your credit yet. I'd be curious to know the answer to that I ice more than ever that ad after a week of reading this information is about a story that's about a week old guard. Yeah this was actually we're on Thursday that we first got wind of this and it just has exploded over the last few days and I think a lot of people are staffed well I you know I never got around freezing my credit now. I I don't often tell you what I think you should do. This of one of those times where to go out on a limb and suggest that he freeze your credit. Go to our poll though there go to our website and participate in the poll to be so kind. Its financial exchange show dot com and we'll try to help you through that process. Let's talk about Valero. And benzene. Benzene was detected. As a leak after the Houston. Hurricane turns out it may have been quite a bit more than was originally reported. The end Valero quote has informed EPA that it believes it's significantly underestimated. The amount of benzene released in its original report to the state of Texas environment electronic reporting system. Twice it it's so important that they get this benzene number correct because it's this stuff news. Bad poison. It's it's it's talks. I mean to hi it's a carcinogen it it it's highly toxic. It's something. That can you don't want it in your food supply you don't want it in your water supply you don't want it in your air support. Yet it's the it's not something that you want anywhere in year. People on a regular basis it's it is a very dangerous chemicals bars it's carcinogenic properties. It's something that can and do your body rather easily but okay can come in nearly can breathe it in Aiken coming through across your skin so it's not something. Where you have to you know touched necessarily eat and breathe this stuff benefits in aerosol form. And it can have some pretty negative health effects I mean just in terms of if you have overexposure in the short term things like vomiting. Dizziness sleepiness convulsions and in all kinds of problems there. And in a longer term exposure it absolutely can cause cancer as well. Lot of news breaking as it relates to self driving cars who will lift Guber are all in the news. Where be joined by Tim Higgins from the Wall Street Journal in the next segment to talk about what Google is doing. To conquer self driving cars that is next from the financial exchange radio net. Work. 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 brakes here we Berrian just on the financial exchange radio never. Work. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state Titus is very Armstrong and if you're in need of state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and -- at 8668485699. And ask for their brand new guide called back to the basics -- lets -- host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of Cushing and dole has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. 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 leader bank is offering in east savings account providing free online banking -- 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 online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Who's a vice president at leader bank and we're talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to the young couple earn just somebody's out there looking to purchase their first time home. Yes oh 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 two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half to paying more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. You know it's very pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware of all the mortgage products that are out there that are relevant to that. Tell us about this leaders thirty yes who we are really excited about this product we just launched its cult leader thirty. And essentially what it is is that fixed rate loan from where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest repayment by one person that's very helpful offer because when it does is gives you break during that first twelve month period exactly so gives you little payment relief for your moving expenses that you still have the security of a fixed rate mortgage. When I bot. A hole. And when I've refinance my properties have always used leader bank they are terrific bank you can call the virtual free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Leader Deng back on. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and member finreg SIPC and advisory services arbiters securities America advisors think Gary 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. Polling here on the financial exchange radio network. Tim Higgins from the Wall Street Journal is a reporter covering driver less car technology. And just by chance he happens to be in Boston today speaking on panel attempt. An hour and a good with what's going on in the city. Well and bear it like about it. Park Mara Harvard business well are there annual you'd be that tech operate the I think secretary is still available online so we come here about the future transportation. Well it shocked us a little bit about it because the in terms of great we're just chuck and are just chop talking about drive this car technology and and I've always been of the perspective that. You know Google is in the leader way more guesses Heidi referred to it. But he brought up he said you know very eight Tesla is is make an all a lot of head rose because they're getting so much real time activity. Information. Who is in fact leading the pack in terms of driver Lewis cart technology in your opinion. Well you get an odd the big debate in the book about cute and if you look at the idea bully at Annan and the idea is that they actually person wouldn't have to be behind that we all. I'd take control and their situation these actually it does have a robot driving around yup I'm violent out. They're they're thinking is that that and it nuevo Google stop driving our project is ahead because there are they're doing kind of bat I think we're at. That's why is doing it is that as well and my hat on approach bad the day he hit you if you are driving at card on the road is still need to be in control I admit it is essentially kind of like a super cruise. Troll you can handle some situations but you get richer he liked it. Would day I I just read I think the news broke last night. That Google was making a fairly substantial billion dollars as I understand it investment in to lift. I would think that would help them in terms of data gathering. Quite a bit would it not. Well lit bit that after ongoing merited an example another example Canada and Maine is relationships that are developed to try to but. Pull it out of their cars on the road because it essentially. Not spoke involved in development at odds here coming the realization that. That building up our complicated not in creating a earned her brain and it striding. It's just a whole another level of application. And did you kind of need a partner and so you know what that relationship list will look like a little and they're they've party better earlier this year that they were going to order some way. Dwayne Bowe right now and eat at. Is taking. Is is trying to work but not Google in Stanley. It went real world people and in these now threatening ban. He let that would be like in real life you know. The idea is you know what you are out well maybe what how what are they would depend upon a self driving ban there'd be nearly. I commute to work again in this school going to soccer practice is how would you live with that at. Out yet the chairman of under way at a hundred and we all I. In the future here they've they've got an order from right there at an event at like underneath and the next week. It's early that a pretty aggressive approach and that is part of the race but always Brad and are on the road. So did they want to be the technology provider. Of self driving technology. For all manufacturers or they go to work with just a select number of auto manufacturers. Well I think at this point they're easy talk to them their open. Possibility they brought in an active yet the alphabet. Eight bit parent company of Wayne Bobbitt rotted and exactly it got crap at bat. Generation in the automotive industry worked at Ford Motor boat is that. Is the chief engineer developing truck and went on Hyundai and they in the EO of the US operation. There really knows they're oh marketing. Did you hear it our development they've brought in a couple years ago and in and out here to help. The conversation between Silicon Valley in the motor city to help those help. How to bring about our he even I right now on downtown and are putting their belt running at their vehicle. He did a deal right there are to get some vehicles on the road it is that why a lot of it about eating experience getting those real world while. So gold is on record saying hey we're out there we're gonna have it on 20/20 two. Is that realistic and has Google said when they're gonna be ready. I think a lot of healer and a lot of that calendar days out there as best prep school street toward. And the question then is well what do you mean by that net right now there are self driving cars on the road it be used their people their human operator ready to grab Biehl. That the question we'll be waiting a robot coming issued a you'd AD by Christina button back and that. You know future is probably close then we bank. But it going to be limited in scenarios the idea that you get out and are out of our country go anywhere and everywhere that they'll our future be it but that if that. At the world as there's way more. But then we we then we appreciate when we are driving. It felt so it is that anyone is that what you just described is that called level five. Fully autonomous. And where I'm at where would you say we are now level to. Weller level right now at the level it is actually an idea bottled. They see an adult I'm wrote an area that he he better not have a model that you get on the highway in court but it actually. But it is in into that mode and able. It'll Campbell lane and oh we can look at where it shouldn't have and really you know that vehicle is especially Adam and recruit well but. If you wanted to take your hand stop and watch a movie or read a book. Not there at probably and that's where where is gonna be technology General Motors later this year new Cadillac where they promised. It allow you to Iraq and Maria are now highway scenarios. And now Audi is working on similar technology. And at that kind of an element Ella. Outlook in the evolution of that technology. Target there attempt thank you for your time may appreciate you sharing with us and enjoy the conference tomorrow. Thank you Tim Higgins Wall Street Journal. You know. You study I study this stuff I read everything I can get my hands on and I I still. Hesitate to say oh it's going to be fully available in 25 record thirty year. 35 I it's off if I I don't know anybody nobody's convinced me that they can you put hard data on. I think it's closer than the average person thinks it's probably a little further than you and I think now okay. The technology divided own statement that 20/20 two that's five years. I didn't do it it won't be widespread. It will not be on every vehicle it's not gonna believe insert the country don't shoot well to go to system. It's going to be something that is on only ultra luxury vehicles at that point. All those things tend to filter down you remember when airbags first came out yeah. Wasn't on every vehicle was on your luxury vehicles burst then all of a senior member evened things you know cruise control power steering things like that it starts with the high end. I'm what are migrates down I'm wondering if this is a little bit different no wonder if it starts in foreign countries before comes to the United States. I mean obviously we've talked about Singapore with new talk all the Chinese cities China has. A hundred I think it's a hundred. Cities with a population of more than a million decision like the population trust just mind boggling and how many large cities I think getting to scale back quickly is a problem. In China or or anywhere anywhere you know I just wonder where. He's come for it it would make sense to have it occur in the high in the most highly congested areas first most highly congested but also most highly regulated or where we'll see if first. Fidelity coming out with a new financial product that you need to learn about that's next from the financial exchange radio network. Linking your Smartphone even smaller here Dell logo mobile lab by surging financial exchange joke in nineteen Jordan who. Who plays 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 we see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free for all landlords visit WWW dogs he ran -- meant to learn more or call 7816418691. This is very Armstrong from the financial exchange did you know that once you turn seventy and 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 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% 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 -- at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries 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. 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 co leader bank right now if you -- 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 zero 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 ran does a free service if you have an account with leader bank and if not they'll simply cost you a small monthly fee cult leader bank right now and 8776917900. That's 8776917900. Or go to zero rent dot com for more information. 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 of faster closing call lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval. 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. Mike Armstrong joins us for Wall Street watch Mike what's going on today at I think we're we've got a little Verizon news. Yeah march or so we are talking about a company that has really been struggling this year as the wireless space becomes more and more competitive and prices are coming down Verizon. In response systems announced they're cutting ten billion dollars their operations costs of the next four years that amounts to about 10% of their annual expenses. Stocks are really moving on the news but you know interest in nature company that. And he it is my opinion but doesn't seem exactly well known to their high level service account in operations money. Oracle down 6% today after reporting earnings how come. So they actually had a fairly decent quarter they reported all and so they had core processor two cents which was slightly above estimates and there cloud revenue reduction been doing pretty well that's. You know product or overall revenue bud. The forecast for their current revenue. And current profits were. Weaker than expected so she it would that in shall not of the stocks stocks down about three dollars 25 cents or over 6%. Very good thank you Mike Mike Armstrong with Wall Street watch are eight. Fidelity getting into a new line of business that's right fidelity is getting into the student loan business but more importantly they're getting into. The student loan administration. Business. I think this is gonna give them a leg up in recruiting to their own company but I think it gives them a leg up in terms of yeah I think they're the largest four Nguyen Kate provider of their right now. They are what what fidelity is trying to do is they are offering a platform that companies can use in order to contribute towards their workers student loans okay. And so this could be an incentive for employees. That that employers can offer employees. I'm not sure how much of a benefit disputes because the way I look at it. Employers typically have a fixed cost and they're willing to pay for employees let's say that the total cost is 75000 dollars when you include all benefits. So all of a sudden an employer says okay restart offering you a hundred dollars a month here. Does not hundred dollars a month have to come from somewhere else in that employment package. You down that idea I I'd think it does it here's why I think it's a nice employee perk well. Like a lot of kids. Get out of college and they are daunted. Absolutely. Intimidated by the amount of student loan debt that they happen and there are some action after it check for 400 dollars a month to 450 dollars a month. I think by having this. As an and part of your employment package and the fact that it's an open like your forward K right he just comes out your paycheck. You don't feel it. If they if they structure this student loan prepayment packaged like a 41 K and then they couple it with the company go to because the way it works folks. Is it gonna go to the employer they're gonna go to your boss and they're gonna say. We you can and then. Put a hundred dollars a month towards your new employees student loans that employers gonna like it because he gives them and employment. Advanced trading at hundred get it that hundreds QBs and they say okay we're paying you an extra hundred dollars a month there we're gonna take that use our net. Yes and no I think that them you know when you graduate college it was a different job market the way it is today. When you graduate college you went to blessing wage going up will you you came from a good school right and it was tough to get a job back in 2000 yup. Think about the same kids graduating from the same school in 2017 tough to get a job. I just wonder why wouldn't you just put in in but you know top line wages because it. The people like the simplicity of it people like the fact that they can say that that they know. That the stimulus I think it's also gonna help track in terms of repaying that one point four million dollars a student loan debt I think is a big. Big windfall there in terms of just helping kids because so I've met with these kids that and I can tell you bet. They begin intimidated by then you know what happens is they don't make any payments on it in a year to those behind they've got themselves and some real deep water. What I what I know is that from most studies out there that thing that Mullen meals value the most. Is flexibility now. This takes away flexibility this is this money's going there and I'm not saying that's a bad thing because obviously these loans need to be paid off. But if I were going and looking at two jobs one paying me. 50000 dollars a year they gave me this extra money and one paying me 52000 dollars you that didn't have this. I take the one paying 52 would you I would look at the second it's. It gives you the flexibility to do with it what you choose. Yeah I thought it was so terrific and I thought it was great. Hey I'd like to talk to you about zero point zero rent is a program for those of you who old. Rental real state I don't care whether you have one rental unit 401. Rental units you know it's a pain in the neck. Weaning that check to arrive in the mail right you go to the mailbox and the fifth of the month and that darn tenants still hasn't paid the rent and you say I mean I got a call the guy and say hey did you mailed check. Now if you had zero rent and have to do any of that because the rent goes electronically from New York tendency count in two U war. Business account it's it's fantastic tool million easily many land. Oratory are using this product across the country. It's called see rent. Exclusively available through Z rent dot net you can use this with any bank by the way you could you might say while with stone savings bank that's okay they've gotten arrangement with leader bank to. To use that you rent platform. Collect your rent electronically. Indeed regardless of who you do your banking with it makes an awful lot of sense it's zero rent dot net that's the website you would go. Two in in order to get more information or you could call them told free. At 8776917908776917900. Or visit zebra dot net. For more information. You know we used to kind of kid about solar power. In meets. It's. Nobody's gonna do solar power the son of a gun. Solar power every two years. The installation rates of solar power. Are doubling around the world so we may not see it here in North America that much as I think we actually are ice IC solar going up it's. Double. Well in the big reason why is that the cost continues to come down OK if you look at utility scale solar installations now the ones he put on your roof but the ones that are. Taking up hundreds of acres out in the field somewhere. The cost now are competitive with petroleum sources with out subsidies. I'll say that again solar costs on utility scale in much of the world r.'s competitive with conventional sources without subsidies. It's it's made a drastic. Drop in prices and I'm not been priced more advancement is there to be me because it's on still the big dog gone it is the weight right. And you look at those are the size of television the panel's ordinary heavy seek. What I've watched the guys installing these things it takes two men. Two to lift these things and put it on the brackets and then install. You are going to continue to see costs fall on these as we continue to get better at manufacturing we were able to strip out the excess material and so forth cost you're gonna continue to come down. Within a couple years it's going to be cheaper to install solar and wind than to use conventional source. That's thanks in all I'm gonna have tax credits. Without tax credits without any subsidies I'm probably gonna have to put a new roof on my house somewhere in the next three to four years and I'll be looking at solar groups at that point do you have continues to come down here yet. Yet do you have a south facing a do. And it makes it attractive because you know he duty. Yeah cost you fifty grand or whatever cautioned that the solar but then you never get another electric lawn and I'm gonna be looking at the ones that are the the tiles actually. Not not the panel just yet the tiles that act wolf it's I think in 45 years they will be when I'm ready to replace him. Good ambient Amazon is bringing its biggest weapon to whole foods to make sure that it succeeds they estimate. That 33%. Of whole foods growth will be coming from Amazon dot. The other big thing they expect all of those prime members to be going in shopping a little bit more and so prime has been a huge advantage. Four Amazon just because what Amazon is found is that when you are a prime customer. You tend to go back more and more because you don't have to worry about chipping and and I've seen this myself before I had Amazon prime. I want back and maybe sent. 56 orders a year okay. When I start when I got prime which was maybe two or three years ago. You saw the package coming in the office it was one or two week and it was you know little things it wasn't that I was ordering 200 dollars every time that. It was hey Amanda deodorant on the press that button brand hey it's time for media more paper towels that's the kind of thing that you end up getting into and so what Amazon's looking to do. Is kinda cross pollinate between there and on line gore online store right now in the grocery store and in the potential for delivery. AA interaction between those two groups. I think is just phenomenal. I was thinking of this the other night because I was babysitting my twin granddaughters. Waiting for my son to come home from work. And he called this a laugh to stop by and pick up some or freeze on the way home. And I think to myself boy here's a guy in a working couple or both he and his wife work. Wouldn't it be nice to BOJ is going your phone at two in the afternoon. And he knew what he will want it delivered and haven't delivered to the house votes there with four yen as I'm still not sold you know not sold on things like produce and so yes OK but it prepared meal on aunts and things like that act bouncy well today I think that's coming. Pay up next will be joining. Larry Kudlow the trying to get an update on the tax reform package. You know yesterday we had a very good conversation about it with somebody from the Wall Street Journal. To the benefit today's conversation is Larry Kudlow is actually working on the tax reform package he's one of the architects of it. That's next from the 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 that. Work planning for retirement can be complicated process and I'd like to help make it easier this is very Armstrong from the Armstrong advisory group and if you've been saving money through and higher rate you should know that once you turn seven and a half who are required to start drawing from that account but how much should you take and where should you take affront if you don't take the required minimum you'll be subjected to a huge -- penalty call my office at 803934001. Get my brand new free guide and learn all about RA MD's call 803934. Zeros or one to get this free guide and if you'd like we can also set up a free no obligation consultation to review your investment strategy call 803934001. For our new guide about required minimum distributions or you can download it from our website financial exchange show dot com. Securities offered to securities America incorporated members in SAP C and advisory services are there securities America advisors incorporated Barry Armstrong represented their 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'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 east savings account providing free online banking -- 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 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 get. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Ski joining you here for a quick legal exchange tipped in Todd 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 Barry I don't need to 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 has done it 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 will just ask yourself this do you wanna avoid probate. Well the answer is yes will not doing now Adler you don't own a house you all nothing if you're poor you. Will probably suffice it could designate had no assets picture you put like designated beneficiaries on your bank accounts your brokerage accounts. And you don't and trusts or are people that have accents greatly real properties. Got money in brokerage account. 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 a wall as it won't avoid probate it won't reduce estate taxes you're right if you don't have. Anything you know the only need a million to have an estate tax though we won't reduce your state tax won't avoid probity and 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 yes I think you need more. There will most of the time time to get back to the basics folks call Cushing handle and get their guide about basics of the state 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 that'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 lied on FaceBook and YouTube watch Barry and Joseph discuss the issues of the day and see which one smiles the most. Is it financial exchange radio network. It is rumours that Larry Kudlow senior contributor to CNBC. Is a part of the architectural team that is designing the new tax program that becoming out of the trump administration. He's good enough to join us today on the financial exchange hi Larry Dario. I Berry you know aria. Good good so. On I guess the first question I have for use wind Woodward will be some kind of the official announcement made as to what. The tax reform proposal. Is going to look like there. Well understand. A stereotype fifth. The cut let's just about a week and a half away. Yeah I mean. Why yes but that out a plea. Even in the indigenous said that publicly Kevin Brady has said it publicly. I don't know it can't guarantee the level of detail. But the announcement to pick up I think that the everytime I access to. Rumors are circulating that you're spending more time in Washington and you are in New York so I'm just gonna put it that put that out there but. What what's it gonna look like in you if. I've got bigger yeah heroic. By the way I just try to say you westerners. My opponent could be wrong OK. I view it is. The likelihood. The chances of tax cut this fall. That likelihood is increasing significance. Would I would you attribute that to adopt market don't see it but media pundits don't see it because China has been very shrewd. First volley hailed as the hurricanes cute. Second of law. This Dili may. Which Schumer and close the the first deal which was on the debt limit and the continuing resolution. Andy what are called hurricane body. That kind of pushed those things out of the way. I'm not diminishing the importance American month by him by Judas thing. You have basically open field running for the next ten weeks to get a tax cut and found that their campaign and for that you're gonna see more of that. And I'm just talent yet his approval ratings are 1012 points are ready and there are going to be up more. It is it is optical of bipartisanship. Gotta call them. All those are very good political woes which basically clear that there are ten weeks of tax cuts. Taxcut discussions and they're gonna get it they're gonna get it. I've never been marked the day I was very concerned. July dog and right here greens right now. Very very positive on that story. See you like the fact that he's working would Democrats. I I liked the fact that he is picking his spots carefully and shrewdly to work with Democrats. I think the immigration business. If he's coming out ahead it days and and we don't know about walls and things of that sort what we do know is he's docket to deport 800000 treatment is indexed. Six months. Maybe the next two years maybe never we know that I think that's my view is that's correct position. You needed in a major immigration reform bill through for legalization and so forth but. Get your question is he's worked and where it. Schumer Pelosi there's that steps does do it and Mara opted to go with the public loves. What do you think about the the idea. Of tying immigration reform to tax reform. I think it's perfectly awful like. Dreadful I couldn't couldn't think of so well that stature like you know respectable. There's no way worse ideas and that's my idea. I got a way to get the Democrats on board for tax cuts. I ain't gonna happen now that yeah this ain't gonna happen immigration is its own. That issues. Its own committee jurisdictions. And it's dumb politics. So I I'd just the little pushed back to my friend Derek but look that tax cut their mobility. You're gonna get this to demonstrate is that good he is getting get a budget resolution. From which. Reconciliation instructions will be paid for taxes spending and they have time to do it trump. Spank McConnell Ryan I noticed Ryan started to come around now you really have to train this CBOs swamp you really have to drain. Joint tax committee swap really have to get 3% growth in the 15% corporate tax rates. And so forth and thought. I just see comet. I didn't they're getting it that day I got three democratic senators or reporter Ali. I can't. And match. That might be a force Serbs they'll lose McCain but I believe we will have to vote in the they'll have a vote in the house. As they can't get it exercise ten weeks and hang it up. Retroactively Larry retro attitude is gonna be retroactive. Well that's what they're saying lot of people that retro you to do it January you know this year. But I would battle like that very much I don't think that's a vital opponent but yet but it gives people some more cash flow to it worked and I think it's deciding the business community I think skated better than the stock market world business community has. Bumped up their investment. Somewhat. Okay the stock market guys who have given up by they're wrong they're just wrong I mean. If I may be wrong in night out as until the last day December's summit. But I'm just saying the arts today. Getting it done are far better than there were two months ago far better than there were two months ago. And a lot of highlight that because. Where does that tell you it's because it buys stocks is technology to ourselves goal. Doesn't it by the dollar that's with that because it was a completely different scenario. Well Larry we appreciate your time thank you very much. And that's Larry Kudlow senior contributor to CNBC. And you you notice he dodged my a reference to him being an architect of the plan but I can tell you. As a matter of fact chuck. He's involved in this is heavily as are all over he's in his all the pushing for for awhile since you know. Earl wait wait before president trump was ever elected this disease the the plans. Have his fingerprints to your point all over them I know immigration. No I think you. In terms of keeping it as simple as possible and they may be joined in terms of politically appearing to have. One that requires the other but it's not gonna be tied directly through legislation just because that complicates the action. Missed the you'd seemed to be great trading card. It would that is not the museum tied legislatively just is that so much all LA Laker bat but it does he say okay it will pass this and then in the spring will pass an immigration. I could see that happening I just don't think you gonna seem directly tied in anyway. It. Dow is up a point. Oil trading at almost fifty dollars a barrel oil trading at 4987. Per barrel. And gold is at thirteen thirty announce its Berrian Cha. From the financial exchange radio net. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are re. 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 the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917. B 900 or visit leader bank dot com. Member FDIC equal housing lender and MLS number 449250. 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Subject -- credit -- -- -- a step ahead hi this is -- 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 -- and senior partner -- -- -- have been helping families like -- with -- state plans for more than thirty years and he's got a brand new -- out this -- called back to the basics -- help you learn about the bare necessities needed to -- -- -- state plan but will also educate -- on important items like how to avoid probate and passing your assets along to your family -- Cushing -- -- right now -- 8668485699. And ask for your free -- today that's 8668485699. You can also download the -- right now by visiting them -- -- -- 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 86684856. Yeah. 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 and stay informed and up today about an economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck saga. The American consumer who represents the bulk of the American economy. And we got a retail sales numbers this morning at 8:30 eastern time that was very disappointing. Hi everybody it's Berrian chuck and you know I remember days check when he got to retail sales numbers like the one we got today. Stock market sell off. Yet this is an area that starting to get a little bit concerning forming and so the retail sales numbers today overall. You'll get the top line number and retail sales declined by point 2% compared to an estimate of point 1% growth okay. The prior month it was revised 2.3 percent growth down from point six OK so would downward revision there. And what you're seeing right now. Is over the last two months there's been a deceleration in the annualized rate of retail sales growth from about three point 8% down 3.2. Okay. Still too short to draw any meaningful conclusions from their but it something. That kind of gets my antenna perked up a little bit. On this report one of the things that stands out non store retailers meanie online sales predominately. Down one point 1% it's the first month over month decline that we've seen in somewhere close two years now now now okay that's highly unusual that still the hottest sector over the last year it still eight point 4% overall okay. But a little bit weird to see that department stores continue to have trouble. They're sales down clothing stores down 1% this year and clothing sales only point 6% year over year okay. Auto sales this month down one point 6% some of that Harvey related well I was gonna see not much. Not a ton only the last couple days really neat is it auto sales had a tough month. In. August the thing about their September October we'll hear some other against auto sales for October should start pick up once the insurance but he starts to flow he or some other interesting things so electronics and appliance stores down 3.5 percent year over year. If you go back just one month was down 2.3 so we're seeing it deceleration in electronic sales those are big ticket items that means consumers. Might be getting a little bit more nervous okay auto sales. Europe freer in July 3 point 8% growth now down to one point 5% growth that is the along pretty much all across the board here except for a couple small places you're seeing deceleration even we talked about. The growth at Home Depot and lows yet okay. Building supplies. 8% year over year in July down to seven point 5% year over year for August so a deceleration there as well then so I take this not coupled with the fact that the savings rate is down a credit card data is up their credit card. Debt is up to. I'm a little nervous about consumer heading into 292018. Consumer needs attacks. To needs taxpayer pay raise to need to pay raise it. Hulu is spending more money. Then FaceBook and apple. On content no I didn't have a who subscription I don't know. Many people do they do but evidently 25 million Americans have yet I had one briefly for about a few months just there were couple shows on the air that I wanted to plow through and then I got rid of it. Tim do you have Hulu subscription now on the graph yeah it's just I don't find Tony unique content on there I think that's gonna change. It could it could you spend and what couple billion bucks and content it would what's too and I think million. What's interesting about who is that it is owned if he tickled the ownership of who cannot not a Disney. Comcast. Fox yes I wore Disney owns 30% of it fox owns 30% Comcast owns thirty and then Time Warner owns 10% why would those four companies. Helped me understand why those four companies don't say in Netflix you can have none of our common content. If I filed those companies that say hey we're we are supplying. Fuel to our competition by giving them mark cut it. Netflix lived on their content for years we'll keep in mind licensing deals aren't necessarily bad OK if Netflix is willing to pay. For your content you don't have to do anything. It's not a bad thing necessarily. That content isn't gonna get shown anywhere that's not content that's being shown on TV right now I don't know but you could say it's only going to be available on the Hulu platform exclusivity isn't some guy that there is except my guess is that in here's where the ownership of who I think it's complicated. It's near 30303010. Who okay suits divided up. Disney might say hey we can get a better deal kicking us on the Netflix to get a 100% of the revenue from licensing our content out as opposed only 30%. On who. And I think this also plays into why you don't see a ton of original content on who if Disney has something they think it's gonna be a blockbuster. They're gonna throw. ABC get a 100% of the viewership from where is if they think it's something that's okay. They can dump it on Hulu in only get 30% of the last numbers I had. It indicated that who had twelve million subscribers that was isn't. Over a year ago. They are paying in new investing 200 dollars per subscriber. Netflix because they have a hundred million subscribers truck yeah is only paying sixty dollars per subscriber so. Netflix has a much better economy of scale and Hulu that's why I think who should pull back their content I know would hurt for awhile. But by pulling back their content I think you'd get more people subscribing to the service and they get that twelve million number I don't hiking and pull back content account. Content the only reason that PP it's it's what people are subscribing to. And that is why content is king it is the most important piece out there. You know at Netflix Netflix or spending sixty per subscriber on content that's why I feel comfortable even with all the debt they have and things like pay up. If someone subscribe for the whole year to stop making money right rate. Cooper we've quoted a movers being. Worth 68 to seventy billion dollars. There are negotiating currently with Softbank. A Softbank is a large. We've caught. Equity firm private equity it's a pretty much like at tech incubator almost it's that they almost just raw and it's it's almost like at tech VC firms O'Neal's part of left yeah it's it's it's and they wanna make what ten billion dollar investment and over there ought to make it ten billion dollar investment and they want to buy between seventeen and 22% of the companies who would that means is that the discount that they're gonna get on these shares back to me paying an evaluation of seventy Billings to be close to fifty which to me says and the company's not worth seventy billion. The companies in fact worse. Yeah which it didn't know hours fifty either than what's like your house they'll write a gift if you know you might say well my house is worth 800000 dollars well it's not worth 300000 nobody's willing to pay. And in the other thing that Alltel use if you take it down a round of financing down around meaning you have a lower valuation in the previous round and did look it's not a good look in its not good for talent. Because one of the main ways that UN sent talent to come as you say hey our stocks this now here's what it's done historically that we're gonna give you a 100000 shares if all of a sudden. You're stuck starts going down. A lot tougher to attract new talent is that's your current you don't wanna be paying them up front in non salary you pay with stock because it's cheaper to do so. It raises some questions about their ability to attract talent. Alphabet which is Google making a billion dollar investment in lifted. Braces an obvious question as to why alphabet I know they've got more money than. Anybody else to apple why would Al Al alphabet in Google. Make a billion dollar investment in lift the tech and lifted a by all accounts lift I think is a vote. Twenty to 25%. Of the domestic market that's lift owns for the you know that. We call the taxi unlike taxi business. Yet rock right violence or rice answers I think what. What alphabet is likely looking for here is aid distribution partner for their self driving technology. Is something not so much it's because it's a great business model they want. I would distribution. Distribution and access to information. I wouldn't it be a tremendous amount of data information probably but I think really what would go specializes in they don't specialize in the making sure that you can pair people up in in getting vehicles to where they need to be so what they do. So is it Google making the investment is when able lately that that's. That would be that would be a tell wooden if if it's alphabet venture capital division that's one thing if it's a wave well. Because they're saying hey we wanna work with. List to go driver Lewis first. Boy that further hurts Hoover's isolation they haven't stated yet exactly what division of alphabet is going to be making this investment so it's unclear at this point because they have a bad relationship with Hoover. I do remember people often forget. Google was one of the first investors in. In Hoover back when it first started the Google ventures arm. Was one of the first investors in there and they had some really big people advising Hoover when they were first starting off. But that soured pretty quickly once it became clear they were going to be competitors. I think what alphabet is trying to do now I think they just want distribution they say look we're gonna develop this driver was car technology. You've got a fleet of a bunch of cars out there we want someone that we can partner with the says they won't handle all of the driving than you guys just manage the net. Up next will be joined by highly McCann and from the Wall Street Journal for conversation. Regarding 3-D printing. And how it is changing the health care and dental industry. That is next from the financial exchange radio network. Margins continue to fluctuate but we've John you covered in your daily update on what time and what's not a pro Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your leader years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state Titus is very Armstrong and if you're in need of a state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and -- at 8668485699. 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This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are required to start taking withdrawals from your -- 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 web site financial exchange showed dot com. Securities 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'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 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 online so logon to leader bank dot com right now -- 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 view this as the financial exchange radio network. If you're landlords take advantage of 08 fully automatic online rank collection tool. That is free for landlords with an account at a participating banks and always free for Tenet's sign up and have rent checks deposited directly into your count. Call 8776917900. Today or visits he red dot net for more information. We're joined now by I leak my comment from the Wall Street Journal to talk about 3-D printing I highly. Carrier good how long is 3-D printing been around it seems like a fairly new phenomenon. If the public consciousness but more recently at traffic around for a few decades. But it only recently involved printers that the comes after an up. Out of the cockpit cut down that they are able to become do you want do what you all the people that they. Become more widely used and more widely known. With companies at the leader in this field. But the company's. There are. Medical research institution. It was like a male clinic that are using this freaky creatures. I'm other companies that make these printers and create. Travel assistance treaties that then. I have other companies ocean heat content companies are here on in ways that he is creepy critters are commercial purposes. So would two days I read your article in the journal about the health care industry. It's it sounds like they're making just ground breaking success stories. It in health care created the application sound seem almost boundless. Let me write and then of people are surprised that it already being. Used as widely as it did you do in the field healthcare whenever a weekly but it that the news is that by Eric and the doctor. I had a complicated surgeries and the values that creepy quicker picker and exact model you know the patient they could be their heart their brain however they. Faster period as required. And you can make a real difference these for the doctor to be able to. Although model yes he'll decide to have adequate eager because they can effectively cracked the other practice there. You know believe that there it will go in and heat of the not for elbow and it cut and that they they stayed behind him a liar and hypocrite speakers and a better outcome. I'm just took one of action anyway it's already being. You do it did you could you recount the story of London seacor. It is the young girl at the Mayo Clinic. Certainly at the London England then let the Euro from North Carolina. It and then held eleven year old not coming in playing basketball. And then with having pain and hurt but it area propelled grenades at the very end they realized that ended up at humor there. And that part of the tumors spread of the bone and then their ever read. And your circle you to go to the doctors have been confronted with that. You know they were about to consider it be picking 100 likely you know for anyone with the traffic but you know especially for young person. Beginning that there you know what their life effectively. And that I think the but the treaty printer the doctors were able to. Picked up a model of this young woman specific upheld a ribbon in her was. And they when they actually went in it been able to practice again effectively. And could go in particular but they've the woman like it may be different indicate that the space and many other. So going forward if you go out ten or fifteen years. How common. Will this be in the medical procedure like you went when I need my hip replaced path how how common is this going to be. You know 510 years from now. I think I think that it's something that's at their research firm Gartner that tracks and they. It and it could think not even are its 2019 within a few years. I had prevented people. On other than in the developed world will be living with reedy creek that I didn't either in on their bodies. Could be implant these could be that surgical Olympic soccer if you. Or and they also estimated the treaty crimping will be a central cool in more than 13 of surgical procedures. I mean that the procedure usually related to crack addict implanted devices. And it the piece that the treaty printing it tremendously helpful. Because basically picnic and customize that this specific patient but crop but decorative and at the site. You know what I individually and the battery but hungry enough for the patient which means that they are not replaces the often. I remember when my dad had his replaced. If they get a good job but it wasn't perfect and you know like it they measure your legs at FT of hip replacement surgery. They measure your legs and one play was off I can't remember with the amount was but. If used if if you were able to use 3-D it should be perfect or. Exactly that they can it back again. That tailored to your exact measurement will impact but it could have been a better and the block and longer and hopefully we'll see used. Different material. I know for certain things I mean crap they're looking at what people are working on it and how he you know he's incredibly strong material. But the fact that they can use different materials unit that effectively and give any predators. You know the printer uses to create implant combined with a cut my patient he didn't that he should at the end of that are directly into the process. Longer. Part of you're out of those in ground. What about dentistry. I would think the applications in that field would be tremendous. And that is exactly what an appeal where receipt printing has made the biggest inroads because of again today a customized patient that they couldn't. Dental implant actually is eight people were experiencing you know are only increased when there's been hurt the number of people could be dental implant. Without actually an area where. Starting to become more mainstream. A creepy cryptic implant could do you would have wanted to thank a lot stronger up option in it but others. Right now lie again and again makes an awful lot of since Ilie thank you very much for writing historian and donating your time to the cause we appreciate. Scrapping our highly in the common Wall Street Journal. I just it mind. Like when you think about it all away. Just. You know what let's use. Joint replacement surgery is that no perfect example right like. You see you and I share clients and it had one of our clients had both of his knees replaced. At the same time. And one of the reasons it's very painful as the you know as as good a job as they do match not always a perfect fit. It's never a perfect right now it's an off the shelf product same thing with a hip when you get a new hip. Right is likely. Mobile that they don't make it picture of your old and I don't know exactly they they take a picture and they say okay we've got four models and this third one is the best fit so we're gonna use that one even though it's not perfect. And when my dad had his hip that I I remember going to the doctor with him. After the surgery and they were very happy because I think the one late was a lead in each of the nature happening shorter. Then the other. As a result of the hip surgery talked anybody's hat and it tries to walk a straight on to see is going to circle still let you talk to anybody who's had hip replacement surgery they'll tell you. That you know the end it's always a little off quite line that it's not yeah it it's imperfect and and and seething about hips. What was the most common things to ever play Jason needs right now. Via I just think the applications and those two field well. In the development down the road where we are going to see it eventually is as we start to be. More skilled at growing tissue and things like that you start to see okay we can potentially use this kind of technology for things like heart valves and so forth I mean there's there's so much that you can do. As you go down the broke his right now it's OK get your little pig valve in there and that's what you get in OK but if you can build something that's customize and per person. And it fits perfectly. It's huge. I'm not sure it's gonna extend life expectancy. But he should have just been more comfortable quality elect as anybody you talk to any any declined to pad. Near replacement surgery or hip replacement surgery the thing they'll tell. But it's not it's not me you know I still live a little bit like my dad is still to this day he had just done several years ago. He still just a little bit self conscious of a wimp because he he had that surgeries and things they've they had their knees that. You'll you'll hear the same thing as early set up an extra talk about Connecticut. What are they doing to close the budget deal we have the answer to that and much more from the financial exchange radio network. 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 we just make sense of leader banker Colin 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 backed. A step ahead 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 war 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 called the 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 two 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 Derek strong with -- 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 Cushing and Dolan and senior partner Todd let's keep 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'll 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 elder years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for all landlords chasing down lead rent payments and making trips to the bank to deposit checks take a hassle out of rent today we're zero liter banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more when you rent your payments for each unit to receive 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 -- to learn more or call 7816 or 18691. Very Armstrong here and I'm joined by vice president Jeep tool from leader bank. 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But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube and this is the financial exchange radio network. Connecticut jobless. Wait he's the highest among the six New England states I remember folks it wasn't that long ago. When Connecticut was the most affluent state in all of New England it was also one of the richest states. In the country. It is slipped in a hurry. In a particular the last two months now what we're seeing is in July 11100 jobs lost 3900 more jobs lost in this in the month of August. And so year over year job gains only up 6000. That's bad and that doesn't include the Alexio on. Departure and stub hub is also departing right Yates EE it's not a pretty picture for Connecticut right now and they're not there yet but they're getting dangerously close. To that that death spiral that we talked about with states where they raise taxes so high cut benefits. That they force people out of the state and unfortunately. It's not something that ends quickly aaron's well in the case well. And they did in fact that we we know that the are IE a budget deal right now to close their three and a half billion dollar hole. Would it involves I just push this out they're gonna reduce the property tax credits that you receive if your crew Connecticut residents. They're gonna increase cigarette taxes all that means you know a lot more bootleg taxes coming up from Kentucky. And they're putting up 49. Cent bill tax on every cell phone bill that bothers me. Is that something to think about no one can get out that that's that's something that no one can escape and so you've got in Connecticut. Does that 3.5 million people out imagine it's on the her kids some of them are a little older and might not have cellphones but let's say that two and a half million of them have cell phones. You're talking about getting you know fifteen million dollars a year just because people kicked you were to their self. It's the are also making the towns. In these towns on the hook for teacher pensions. So what you do is just probably like here. It it's not real way of doing that is the money still must come from somewhere. Used as he higher property tax was that's right what's gonna happen is Gannett and and you have really heated discussions in town meeting because. Yeah you're gonna have the young families understand. GB we need to increase property taxes because we need to have. Lots of good teachers which you do. The vineyard at the older populations and the fact that they don't wanna pay anymore property tax meanwhile paying too much it in the problem is it's all smoke and mirrors when he moving the surround like this because OK get off of the state to have to do anything. The money still has the home from somewhere like you still have to tax you people at some level in order to to produce this money so. It. They did the government 'cause I got this done something done at least so. Okay the they've done some government cuts of one mistake I think they're making and I I posted this yesterday and I took a lot of heat. About this I said well they should the issue put in the the polls put the tolls back you know like the idea of all I passionately embrace it but think about it you're not going to be able to drive through Connecticut again what you. I just you know the Connecticut people that are showing meter hatred say I'm OK with. Think about how many mass holes drive through kinetic it on their way to New York. Think about how many people from Rhode Island I try out every Thanksgiving. And and you get nothing from us I get hit in Massachusetts to the second recommend amassed Tuesday got to pay that stir Bristol getting onto the pike you'd never even paid the eat every bite your guess is the gas taxes to. Right so no I don't Connecticut get knocked it. I don't know if ever bought gas in Connecticut and and all I I can just I know of emails texts in the FaceBook posts are common. If if we're Connecticut resident I would of said. You know what let's put lots of polls all over the place will charge people that live in Connecticut. Half the price. It will charge all the people from other parts of New England in New York State right you go through walk through the Mohegan Sun parking lot and count how many New York plates it's. Only it's on New York masters for its non. I arrived on the bad guy for suggesting that the increases tax people from out of state to pay for in state problems it would seem to be easiest way to deal that book. They don't forget to call the Armstrong advisory group and receive your free copy of the 2017. Retirement plan distribution. Guy. Available free of charge by calling 800. 3934001. That's 803934. Zeros or went find out. How your money coming out of a 41 K plan or diary. Might impact the tax ability of your Social Security how might that impact the cost of your Medicare part B premium did you know that. I want people aren't aware that money coming out of your 41 K can impact how much you have to pay for Medicare part. Like to learn more call our office 803934. Zeros or one if you don't wanna make the call you when I download the guide. Go to our website financial exchange show dot com that's financial exchange showed dot com by the way that website is also where you can go. If you're having difficulty freezing your credit there's an instruction manual on our blog on that seamless tonight. The are your goal when it. Our effort to securities America incorporated members Jenrette SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The audience for live sports on television is getting old. And that's troubling news for advertisers I was shocked when I read this story this morning so was his data is mindful. Hockey is in a death spiral the average age of hockey watchers for the NHL regular season has gone from. 33 years old in 2000 to 49 years old today. So don't younger than a baseball view it is soccer's has the younger youngest viewers viewership right now and 39 years old. Some of the oldest viewership horse racing at 63 years old now okay up from 51 back in 2000 about the NFL. Get a felt a little surprising actually the NFL. Yeah it the average age in the regular season is fifty in the playoffs it's 51 but the Super Bowl still draws in young fans only 46 years old on efforts of the Super Bowl is still retaining. Canada prime piece of real estate out there. The other things that are interest in your baseball continues to get old. But not as rapidly as you think baseball the average age reviewer today's 57 that's a pretty old but its oil up from 52 it's always been well it's always gonna it's always been an older sport it seems it's it's not like hockey where there's been you know what's a sixteen year jump that I. Really find it almost hard to believe that it's on each used to be 33 years old watched NHL regular season to 49 so I have a theory on this and my theory is that there's not a whole lot of data collection being done on hockey viewers and so one guy like when young guy who died mysteriously could like end up throwing the whole thing off. Just I don't think the pools that big that they report from here next on the Olympics still edges Leo as is somewhat old NASCAR's getting old too. You remember about fifteen years ago when everyone's at NASCAR's gonna take over the world and being next big thing do. The times have changed. That's circuit is in a whole heap of trouble this outcome. There he's losing interest it is big consolidation so there aren't as many teams to lack of competition it's not as good of a product the play offs are confusing it doesn't make sense. And I think the other thing is that Tom sponsorship money dried up after await you just never come back with these sports. Programs have to. Be in leagues must be terrified by this because if you lose the young people. You're you're you've got a problem if you lose young people watching your shows you watching your games with the due to advertise. It's gonna push somewhere else. They're neo Nazi advertising dollars and follow the on that they're gonna go somewhere else and so if you are content provider that banked on. Hey live sports can save us this is telling you. It's a refer a little bit but not forever. The Amazon's sweepstakes. Continue everybody wants a piece of the action everybody's putting in bids. Massachusetts. Has set aside a couple of 100000 bucks to help chase Amazon and try to bring them to Boston. Yeah and the chatter that's not coming out is that they are targeting. The area right around Suffolk downs he's talked about that last week yet as the as the target year 261. Acres the race track there. But so there's a there's plenty of Orlando was there they have to do a ton in terms of infrastructure improvements in order to be able to handle traffic going in and out of there and imagine making it with a 161 acres they could do not only the campus can do housing you cut and so it's something that can help but it would be to nicer area that would be a big project to get that'll done. The other thing that would be interesting is obviously the city of Boston is holes behind it. You wonder how much East Boston residents would support this with all the additional traffic and all the additional noise and we know that that's a neighborhood that likes that that's pretty defensive in terms some of those things. We've seen it with airport construction at Logan they've been very resistant to new runways and things like that. Wallet do I think as I think Charlie would steamrolled the whole thing and you tell me do whatever they want I don't disagree with you but it's the kind of thing that if you end up with court cases and things like gotta could tie it up for long enough that Amazon says and non interest in line. I normally hope this doesn't go that way I I think there's enough powerful. People that the interest in this project are you glad we can take the Olympics. You would nab a shock if we had won the Olympics that we've had no shot at this at all we would need we would not be in the conversation now so. Retailers will be hiring Winnie more seasonal workers for the holidays this year I will point out that this includes warehouse where. Yours yet targets can be hiring a 100000 seasonal workers up from 70000 last year. Let's see who will solve radio which is technology companies hiring on 27000. Amazon you you're gonna have pretty much retailers across the board gap is already started their process Macy's and Kohl's have as well FedEx yet again yesterday NAFTA snapple snapple more than ridiculous levels more than ever a problem they're gonna find. Doctor fein and of people with things like that the licenses and so forth they need for drivers and well they won't be of the deal have runners with bill do it would UPS has done in the past as they'll have. Sometimes two guys that are in those trucks running the packages. Yup the and so ability of two men in the back of the truck to people in the back the truck and into the address sprint down drop it on literally. And and a driver saying OK where's this next you know that that's that's a good. I'd the other day Jamie Dimon me he called big calling it fraud. And Jamie and I happen to feel the same question and you're an investor and it quite so I feel bad saying that both. I can take I I just have never invested in big point is I never fully understood it first of all. But second of all I saw what is being used Ford largely is being used for paying bribes and for. Extortion purposes and things that site I just never recommended it. To any of my clients. And now jamiat himself with some pop water. The army having it the Internet Matta Jamie which what can you do the Internet going to be mad people no matter what. But people are bail ripping him well you're just trying to keep everything from you know to view is trying to keep your control on the world economy in this it's like I don't know I mean. Eat you can't please everyone especially like Internet trolls are just not gonna please let's do there's there's a lot of people out there that just are not happy no matter. He's. Up next heard talked to Paul La Monica from CNN money will be talking about Equifax interest and they I have no idea whether he's bullish or bearish on Equifax. Grab a pencil and paper stock stock is up next with all the Monica from the financial exchange radio network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten disc has 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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Securities are for -- securities America incorporated member -- SIPC and advisory services are -- securities America advisors incorporated Barry Armstrong represented if 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 -- -- and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you are 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 -- -- 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 zero and 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 -- -- dot com for more information member FDIC. Security suffered through securities America Inca members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong represented as Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question at financial extreme show 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. Equifax is in the news and not for good reasons they're stocks down gosh more than 4% just today two. Yet down just about 30% since in the last week or so and joining us now to talk about the stock is Paul Monica from CNN money. Paul thank you for coming on. Much. Also it's it's it's been a rough run for Equifax the stock is down from about 145. Down to 92 dollars today. Is this one that continues to get worse in your opinion or their buying opportunity. I'd be very weak area and I think that thing that kind of immediately pops to mind as median analogous to an area was what happened Arthur Andersen which admittedly. A public company yup after out the Enron debacle so a lot. I just think that because you're going to see. So many congressional hearings probably about what went wrong and Equifax or receive also. Litigation you know up your neck of the woods Massachusetts attorney general to be filing. You know a lawsuit I doubt that that. And debate. I think he's past that stay away. You know not not predicting that he's going to be the and you know the credit scoring out group as we know it's you know I'm not sure what. The alternative would be to what we already have with Equifax Experian and Trans Union but that doesn't mean investors need to try and catch this ball. So he hears that that's kind of lead me and my next question the other companies that are out there doing this Experian. Trans Union. Do you feel similarly about them. Yeah actually it union. Paul is not as badly but it's still pretty sure our. Experience not being company it's not based in Ireland trade over one in the the last. Problem. In terms of this stopper but they're down again not today I think the whole industry years G. Probably the people Washington wondering whether or not they need to change and. I think it you know hard to imagine why you'd wanna buy these stocks right now even knows some of those companies maturity experience a little bit more. First occasion that. Looking at these companies as a whole you mentioned that you know out in and I know this isn't your field of expertise necessarily. You know the credit scoring industry I think a lot of people are finally getting you wake up calls to what exactly is an understanding that they are the product not the cost the customer here. What exactly. Do you view as as the biggest problem with them at this point I guess. Yeah I think. The the problem. Is even though you're right in a consumer can't suddenly decide that to happen this is you can opt out of the system you wanna get a mortgage your applied for credit cards didn't what have you. You know this is the system as we know it by. I think obviously been so one is extremely nervous about the future of Apple's stock doesn't go down more than 35% in a week. On the last. We know what happened today. I did that. That function of of people you know obviously dumping the docket the only reason why the price will be going down there were sellers and buyers right now. You have to think that some of these dollars are among the beat. Institutional. Mutual funds that bought that this was it did business hours suddenly. Realizing that BP there are some being risks here from regulatory standpoint perhaps. You don't back to potentially error apparently there were as well. And it also seems like the news just continues to get worse and Equifax continues to look. More incompetent and in the news yesterday that one of their passwords for a staff logging in Argentina was admin you know writing that if the it's just. It's bad. It's bad and also I think that everything that for the most part the company is gone has been really. Poor leave bought out or not thought out I mean I'm not sure who whose idea was. And the CEO right an op Ed in USA today and has there we have responding that is not really attracting. And all the fact that there have been some insiders tell the police these after the company found out about this including from C a fellow. Who obviously I'd like level but yes you know about it before they told customer I I do I hate to bring this comparison out because. You know we're talking about something where people actually tied. Remember that Johnson and Johnson's Tylenol. Scare with cyanide win. That companies still it's viewed as a textbook case. How to respond to a crisis and not the story you're brand equity. Everywhere it's still holds up how changing executives responded to that. Much worse than this in terms of people has been lost. Problem. And Equifax just doesn't seem to have the now actually team that is adept enough to realize that this the legitimate crisis for the company. There are real reasons why consumers are scared and angry. And they don't seem kind of kept. Very good will Paul we'll let you go. And we'll catch over the next week the the giants to get a win against the lions. Hopes on tired of these games template at nighttime to be honest yeah you'd Monday night went right. It Eric I can't get my kids if it quickly enough to be able logical. Take care Paul gets a team logic there. Well I'll tell you why you guys are talking Equifax dropped about another dollar. Probably inside the sale falling knife. Equifax trading at 91 dollars and forty cents a share it used to be 147 dollars a share. It's very chuck. From the financial exchange radio network. 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. Securities -- -- securities America incorporated member -- SIPC and advisory services -- -- -- securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities -- companies are unaffiliated if you own rental property you're going to want to hear about this exclusive program offered -- -- -- it's called zero and is designed specifically to help -- receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested -- -- 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 -- and sign up -- -- -- upon the execution of their release and why wouldn't you wanna do that once it's set -- you never have to make another change during the lease period he -- -- a free service if you have an account with -- bank and if not they'll simply cost -- -- small monthly -- -- -- bank right now and 8776917900. That's 8776917900. Or go to -- rent dot com for more information. Member FDIC. Hi this is Barrett strong with -- 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 Cushing and Dolan and senior partner Todd let's keep have been helping families like cures 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'll 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 in right now what 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.