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Full Show 9 - 21 - 17

Sep 21, 2017|

Full Show 9 - 21 - 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 your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with a Barry Armstrong and chuck Exxon. In light vending business are winners and losers they Graham Cassidy health care bill. We'll won all likelihood go to the senate floor next week and one half of our six New England states will benefit. Tremendously from the Republican bill but the other half. Including Massachusetts will be severely. Punished hi everybody it's Berrian chuck with you here on a Thursday morning in. A week need to just take a step back. And kind of review. With the grand capacity build does. And then we can walk through each individual New England state. And I've got all the numbers in the math in terms of how much it'll affect Connecticut and how much it'll affect Massachusetts New Hampshire all the New England states. That all the data for all six New England states. Then maybe we can have a poll question to that. Yeah the Gramm testy bills will latest style version of Health Care Reform that is not trying to wind its way through congress and and effectively what it does the the biggest provision gets rid of the employer mandate gets rid of the individual mandate. So remove some of those mandates that the affordable care and obamacare put into place. And the other big change that it it really puts in place is instead of giving. Federal dollars to subsidize insurance coverage and expand Medicaid what it does it gives money to states as block grants and which can then use that pretty much how they see fit. As it relates to health care right correct now okay is it to build the new soccer stadium. In theory you can't but I'm sure there's ways the politicians can you know try to take a blocker and do whatever that Walt. So. Pretty much what it does is they they put in place a new formula in this bill. They calculate how the states would receive these block grants and how much each state would end up perceiving. And so the big thing is if you take a look at the New England states. There's some significance. Is shifts in terms of where dollars and up going. And and that's the part I think a lot of us to understand I mean the state of Maine benefits tremendously. I by the health care bill they pick up almost three billion dollars yet. Maine does Rhode Island picks up about a billion dollars Vermont picks up that 360 million dollars. Connecticut loses about 360 million dollars M New Hampshire loses about 400 million dollars and that's why Sununu doesn't like and asked him in Massachusetts gets whacked Massachusetts loses about six billion dollars and that's like Charlie Baker screaming bloody murder lawyer in that six billion dollars is over half of what the state currently receives in federal subsidies okay for health care so. It's a huge change by did. Same token so what does it do let let's just won't take it one step for a disease. Cuts wouldn't occur until 22 when he threw 20/20 six as I understand it correct and in there's a decent chance of these cuts never end up happening because that you might end up seeing things changed before that happens anyway it's all right so. It cuts occur. And there'll verse several your pertussis that just means. That some states are gonna have more money. To provide healthcare to their citizens and other states are gonna have significantly less and generally when you look at the trend. Red states are going to and making a very well in the Texas killed Blue States are gonna make out there report text as did very well in terms of per person. Dollars that are spent yeah okay. Mississippi is gonna see about a 1000% increase in the amount of federal dollars go towards their state for health care. Kansas is gonna see is 750%. Increase Oklahoma 624%. Increased. Texas a 567%. Increase all of this build dollars. It takes money from Blue States and gives it to red states which by the way is what the federal government already does if you can most entitlement programs. That's how they're set up there's already money flowing from blue to red states in order to keep those states a flow. Well and really of these six New England states. The only one that really gets hurt severely is masters as Massachusetts this you could look at Connecticut and you can look at New Hampshire. And and I know Sununu of the governor's not in favor of it but they're not getting hurt badly and they're they're down 10% cut in what you can do on health care and 10% always sound small bucket compared to fifty. Thank you tell you tell a company cut 10% a year right on line and that's that ZBBA. Numbers there. But it's you know the other thing is. The idea hearing this thing might pass a I tip crappy bill. It is a crappy bill and I've not been argued the merits of the bill but what I will tell news that viewers it. If it sounds as if it's getting ever closer to actually pass but do you think you pass this now why wouldn't Susan Collins vote for is it should it's a 200% increase could because all it's doing is it's giving it to literally giving money to red states in order to get votes. They are you in favor of the Agrium capacity health care bill that's our poll question today how do you participate go to our web site financial exchange showed dot com. Easy to vote. Right yes or no you in favor of it or not remembered the states they get adversely impacted. Are going to include Massachusetts 56%. Reduction in federal money. New Hampshire 8% to 88 point six is the number I had you said ten news that'd be just rounding up. Edged rounded up yeah yeah. Connecticut loses seven point 7% of their money but Vermont. They get a 9% uptick Maine gets a 200% uptick in Rhode Island RI benefits tremendously they go up by 43% in terms of federal health care money so place your vote. Financial exchange. Show what what this bill means if you're in Massachusetts is that your taxes will not go down but they will go to taxes. There are not in Texas Angela your taxes will not do down in your money will go to I think your major under a here. If you're Massachusetts resident. Your taxes will include X is it the other thing is based on a stateside the State's gonna have to raise taxes in order to make of that deficit it's either going to be property taxes and sales tax me there's going to be some type of tax increase for the three states that lose money at 3339 says this is good for Massachusetts less entitlement no. It's what this is doing this is taking your money that's a problem this is dipping your money and it is sending it to Texas to Florida. To Mississippi to Alabama. And as a result you're gonna have to have higher taxes in state in order to make up the programs that are still in place they'll tell the programs are being pot. Like that's that's not what's going to happen you know I'd only Indy I think that people might forget to is a lot of the states where the money's gonna go to. Don't have a state income so. Writes that he is you're gonna give Texas. Our money you're right you were Texas you're giving Texas your money I don't think people understand this it's you know you you're not cutting entitlements you're just moving them out of state new. It's the worst possible thing to Japan for someone else's entitlement now like. Think about that. Will move trucks ups and. We have to move. Let's talk about existing home sales. They are running right now I did some analysis we got this data yesterday but it have a chance to digest it. Right now shock when you look at existing home sales they are running. At a rate of 82%. Of what they should be based on the population in the population growth of our country and him. Prices. When you look at prices they are up five point 6%. On a year over year basis up. And this this this I what you did just think about for a minute folks prices are up five point 6% wages aren't even packed. You know certainly if it's something that's a little concerning I still don't think you're in bubble territory on housing no housing us still think just because the demand is so strong and there's so many people that are. Bottleneck trying to get into these homes right now and I'm not that concerned about housing to be honest. While and and you just look cost the cost of construction continues to injuries so I agree yeah I don't think wearable mobile one thing you know we'll tell you. It for those of you who haven't bought a what you just think about this prices were up five point 6% over the last year. Inventory levels truck are down six and a half percent. There's just that much less to purchase a world role last twelve months swirling running about four months of inventory right now and normally in a healthy market you wanna see about six months so it is still very much a seller's market and to be honest that's seller's market seems to still be intensifying right now there seems to be more competition for houses now last. Why I think a lot of it depends on what type of house you're trying to sell I've noticed in our town. And even in the surrounding towns the really big. High end homes are sitting for a long time sometimes for years makes it and in certain months you put a hole on the market. That easy in I don't know the the the mid range or the bottom half of the housing part price market in your town. I agree it's gonna sell like party is gonna sell vision via auction for that house. You'd try to sell Europe. You know luxurious. Five bedroom colonial with three car garage in ground pool you know troubled that eerie you know and it's now cost two million bucks. Tie I see those I dried up and down but I don't always been slower. Has it now do you think about it like that mark the though the luxury Margaret has never moved at the pace that the starter home market does you know what you know like his rich people can afford to wait till and it's also it's it's it's a more choosy purchase when he spending that amount of money you're not just saying okay I'm gonna buy this then I'll move in five years it's. Hey is this the house that that I'd want to spend two million dollars. Have you ever thought about robotics. You know what do you do for a living maybe drive a truck may be your nurse maybe you're a lawyer maybe you were financial advisor maybe your radio show host. Is your job at risk to robotics. Is a fair question rated as the it if you're if you're working unit growth restore your cashier is your job at risk. To robotics. In the next segment we will be joined by Matt McFarland. From CNN money he wrote an article. Defining. Which career categories are at risk and which ones are not at risk. That's next from the financial exchange radio network. Even without health care or tax reform all three major indices remain near record highs get the latest info on the sectors that are winning and those that are 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 asked 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 handle it 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 -- 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 log on to leader bank dot com and sign up today this rate may change without notice and 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 east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. 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 hours just somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling men are couple things one be patient. Yes you know we we see a lot of first time home buyers who are making five and fifteen offers some time to 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 the other half do you. 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. Youngster can 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 tell us about this leaders thirty yes so we're really excited about this product we just launched it is called leaders 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 repayments 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 but you still have the security of a fixed rate mortgage. When I bought a hole in when I've refinance my properties have always use liter bank they are terrific bank you can call them tool free. 88776917. B 900 or visit them online at leader banked dot com to learn about their mortgage programs. 8776917900. Liter bank back on. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. What thanks to Matt McFarland. From CNN money I know now that there were 26 million horses in the United States a hundred years ago today John. And today there's only nine point two million what I find interest in you go back a hundred years ago all the poor people out of horses the rich people out cars today the rich people have courses the poor people should go our interest and our guest is Matt McFarland are you don't match. Very here. We're glad to we wanna talk about robotics and a lot of people are very fearful. Of their job being replaced by robots. In many instances those fears are well founded. Which careers are most likely to be replaced by robotics. Served so ones that are are really kind of risks are for example in general they beat category at cashier whether you lower. A tollbooth operator or you know cashier at Iranian problem. Any past dude play on board grocery store those are those are really high risk as well as Jardine. Is. Talk about driving. Because what you're referring to there would be. Robotic car straight driving around New England. A lot of us had difficulty envisioning that ever occurring. Right yeah it would be it would be a huge change and did expound really creepy. When you first hear about it right. It's true it is. Some of the smartest people in the world are working. We've got a huge company in the US and and the Prague. Spending his millions and millions of dollars. To develop the only economy vehicles and market because they know how much money can be made that they make the technology or. So Matt how many people make a living. Driving in the United States they whether they're driving a taxi whether they're driving for Hoover whether they're driving a truck. If it's in the millions Diana I can't you be an exact number. You know and Barry I I had it beat the people he. He'd just been decades about five million driving job would be lot. In inside the net ten year. The personally he had driving jobs going away lot of warehouse jobs going away cashier jobs going away. I'm trying to think what other had a fast food fast food I'm guessing. At what percentage of fast food jobs are gonna go by but by the wayside. So if you trust the bureau slippery at their remaining 80000. Into that appear in by twenty point. That's not very many. Well right let me is probably what a couple million people work in infested. And I don't I don't have that number up hand but I mean if you're one of the 80000. Sure you know like a lot. I mean yet let the truth is. There are going to be on the job that survived a lot of new jobs create. But people are fearful if you're if you're 45 year old truck driver right. You're you're nervous you're you're listen in this entailed not gonna make it on 65 drive in the struck because I'm gonna be replaced by a robot. On the other side though right there are jobs that are low risk in terms of being replaced by a robot. Which which types of jobs Matt are going to be. Lower in risk aware of the demand picked up. Yet it's jobs debt. Really require human should order. It unique human trait but being compassion. And shelling out but he. Being able to be a leader those jobs should you really think just because that that's so hard for machine to deal. And those are things get even you know the don't want to get from an action though. That you are under. The issue in. High school soccer coach. But the Europe barber Eric pilot. You know those people that there's got to be up and they shouldn't be big impact and the and does collect social worker would just work being overly geared. You know having met human element. Don't court. So Matt have we ever seen a transition like this before where so many jobs are lost in a short period of time. That we. Big transition. In the past. You know what what about a century ago most of their work arms. Get the industrial revolution really changed things. But that didn't move it's quickly is that what we beat in the digital economy. Where computers up and get like this. Every year. That it it's really an exponential change. Would surely knew that the potential for a lot of people really think that the prize. To disrupt it. Matt thank you very much for your time we appreciate it. Thanks for Matt McFarland CNN money five million driver jobs thousands of restaurant jobs thousands of cashier jobs gone is gone. I believed to be quicker than people were expecting. I think that transition period is going to be rough and. I think it's gonna be quicker than people are expecting and I think it's going to be rougher than people expect is well on that the comparison I'll make is. We'll be globalization you know and and you know the talk about okay globalization global create new jobs he might lose this one but you'll create new ones. Over the last thirty years which is a long period of time we've seen how that is impacted the American middle class I think this is gonna do something similar. I think it's gonna do more rapidly would you say to the people that are posted this in the saint don't eliminate those jobs like that truck driver drop the sacred. In a year year we we should no job is sacred and my job does not say daughter is not only there's a lot of people that are gonna say don't allow for robotics. I don't allow for a driver scars I don't know Serena allow washing machines and like I. I've I'm putting it out there I X I I get sound and text messages come hope and trust and I I I completely understand it because the single best thing that all of us can do is realize that we are replaceable. The only needs its idiot I was in your skills always improve your skill it's always be thinking. Always think of life as a game of chess adapt or die I mean he's got to think ahead you know you you have to be able to adapt and to me it's going to be easy and this is coming for all books and I think there are a lot of appeal hopefully forget that like how many jobs in the legal profession. Word eliminated due to robot I have a buddy who's a lawyer yeah and it used to be that when you were going through discovery and in particular let's say it was a big corporate case you have 50000 emails that he had to go through. Someone had to sit there and basically read through all of those emails today there's software that does that regulate all all those paralegal job that you should read through emails and and and document what was in the Newton gone. It's finance his services and counting you look at what's happened you know in accounting and in me a mutual funds and things like that this is combing for. Not just lower class the middle class and upper middle class is coming lot of white collar jobs Marie Warren lot of white collar jobs. May be more white collar jobs being lost to robotics then blue collar it is it is coming for everyone and in anyone who says oh my job's a bum arm you know I'm not replaceable. You wore donors. Might not. And be fully replaced but you might have augment that job augmented so you don't need as many nurses now. Today in the restaurant business what you'd see is robot there working. Very rapidly on robotic arm's good on form 816 iceman said don't allow refrigerators. The threat very. All right when we come back love Wall Street watch and we'll talk to you about why October. Is the best month in which you can buy a house that's next from the financial exchange radio network. Making your Smartphone even smaller here don't go mobile lab by surgeons financial exchange shelf in iTunes or those who. Who played stores this is the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks ticked hassle out of rent date easy round 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 throw landlords visit WWW dug see rent dot -- to learn more or call 7816418691. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half. Have you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&B rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guy at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Securities are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. 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're interested in C ranked the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that tent and sign up for C rent 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 -- -- 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 a pastor 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 leader bank a step ahead. Time now for street watch a look at the market's performance so far today until Berrian jog right here on the financial exchange radio network. Take go to markets right now with a bit of the sell off happening pretty controlled at the moment Dow was down ten points right now. S&P down six. NASDAQ is taking a little bit bigger hit right now down about two thirds of 1% 42 points and the NASDAQ. So tech's struggling a little bit as we start the day here all right the fall brings beautiful foliage cooler weather pumpkin spice flavored everything it's the worst and eight pumpkin spice and an abundance of starter homes that's right the inventory for starter homes now let's define them. Starter homes are defined. As Holmes in the lower. Third of the market's valuation and affordable. For median income. Earning workers be increase that inventory chuck. Increases by about seventy by about 7% not seventy by about 7%. In the fall months compared to the spring months. Yes they end up with some lower listing prices because of the extra inventory that tends to list around this time a year. And so in particular you know if you look at certain markets you can see that it's even more pronounced in San Jose the number of starter homes or 42%. On average. Compared to other times a year in Colorado Springs in Portland Oregon and Phoenix. Those are all between 32 and 35%. Seasonal swings that you have an inventory there and so the it is interest ink is typically. I always think of the of the spring is being the busiest time many of the most homes on national on the market will especially in New England. Right knee the there's A and a presidency I guess part of that is because of how we think of things regionally is you know the spring is kind of the prime home buying season here. Put another way of being shut in error rate when he would shut in November December in. You're dying to get outside do you dine for more space to if you're if you're Ellis or the CF three kids in your and a three bedroom Kate. Byte by march your your your lawn at the walls to get out of that place yeah. And so it's it's interesting to see that that you do see these these moves in different markets here. The west in particular tends to see the biggest swings in home prices for season to season yeah Wichita actually has the highest ones. In eighteen point 6% swing from their prime season down to their low season. So if you're looking to buy a house October is a good month to do it. November is the second best month of the year and son of a gun at December isn't the third best month of the year in terms of finding inventory it's available at the other thing it would come up and I'm speaking now to new England's market. If you haven't sold your house by October. You start to get a little anxious you're saying boy this thing on the market ready to wanna hold that thing over the winter I put on the market back in wet windy Lister house mark April march April may maybe may be of a six month listing on the thing. And and now you're sitting near in October 1 is right around geoghan had into the winter and I still don't have this thing sold at the heating bill and all of a sudden you're dropping 5101000 dollars off you know so like I. You know if if you're looking abide don't necessarily wait until springtime. To buy that starter house. A state panel backs switching to all year daylight savings time or would is also known as Atlantic time. Yep pretty much what this would do is instead of getting dark at 415 in the winter is everybody hates in in New England is it would get dark at 515 which still causing great but I I've viewed as being a little bit better. And so this was a panel in Massachusetts that said hey. This this actually could make some sense that you know it's it's pretty disruptive to be switching back and forth. But it also drew the conclusion. That Massachusetts should not do anything unless a majority of the New England states decided they wanted to do this together right the problem we have is. You'd have to get. You'd have to get me right the FD get him yeah I would imagine you have to get. You have to have pretty much everyone but Vermont. That genetic it's going to be Connecticut's second ago is that wanna stay with New York yet Connecticut I think you're a tough time I think you've got to get Arab you have to get from gentlemen are not is not. Yeah. Nobody could it would know he can simulate is that it's like the second least populous state in the country's Rhode Island would be important. Think you have to get Rhode Island I mean what a funeral and I was gonna say they were pretty attached to new York and we're pretty attached to Connecticut. What if you do kind of like they do an organ and Idaho where. Half the state is on one time zone happens on another we raised that point because Springfield gonna say we're way out west right it's fields in the SeaWorld whale last week to wanna make that even you look at some of these other states like Kentucky it's happened half Tennessee it's happened half. What's the use of Italy nevermind I've lived here for twenty years in Massachusetts and we talked about it every year. I think probably what I would just get rid what I think Eddie you know I never happen whatever they call the thing in the winter I still don't know if that's standard timers daylight savings I have no idea I get confused every year whatever that thing is in the winter. What are we just get rid of it everywhere. Let's eat from a health standpoint you we're we're joking about this but from a health standpoint. I I I do little research on this. Heart attacks are reduced. For one day in the fall weighing in the clocks returned standard time. But the increase. For the three days in the spring so when you change the clocks in the spring that's the top one because you lose that our league was just always keep moving back then and then. Other researchers have found workplace. Injuries increased the Monday after the clocks spring forward because of workers sleep loss yup. But there's no compensatory benefit in the autumn when the clocks fall backs those dangers. But I I tie and we like I said we've been talking about this war. As long as I've been here twenty years. And it would happen is that at this point like. It's just it's annoying. It really tell you about leader bank I've been doing business with them for years and they're always coming up with a great deals and they got another one. That is surely worth your while to check out. Leader bank is offering it an. 15% annual percentage yield. This is an on line product only and no minimum balance is required to log on to leader bank dot com and sign up today. This rate may change without notice that don't delay log on to leader bank dot com. Get all the information about this great offer and sign up today before the rates change get free online banking with leader bank's new east savings account that has a one point 15%. Annual percentage yield. And no minimum balance and remember this product is only available on line to log on to leader bank dot com right now that's leader bank dot com. Peter banks step ahead member FTSE no minimum balance fees may reduce earnings rate subject to change without notice and may change after an account is opened. Hurricane Maria. Expose is common problem for Puerto Rico in sync Roy homeowners. Hurricane went right through those two lines folks went through the West End. A sink Roy did a tremendous amount of damage. Did. Tens of from an acting get action it basically in emaciated. Porter reaped the the governor Puerto Rico has come out and said that he doesn't expect Howard to be fully restored. For six months. OK I can promise Puerto Rico is a poor island end. The era of any money. They can't borrow any money hasn't stolen double average annual incomes were readers only about 20000 but this is safe being with saint for suits a third of what it is in the US and you know we we were talking I think it was last year when the Puerto Rican debt crisis kinda reared its head in people's civil what do we do with this. They're not going to be able to make the payments on the they simply are not going to be especially now originally. Vacancy I mean you could see hundreds of thousands of people. And I'll I'll how do you get them off but he can't fly them I wonder your because you're gonna have medical emergencies all legal people you'd have to get them off. I don't know how you do it I mean is about all the people who were in firm thing about your heart attack in Puerto Rico there's no electricity. This is a situation like you almost have to get like carrier group down there and slick be ferrying people off on navy ships and stuff like that emulate I don't know how else you do it at that scale in a knee and you get to the point where it becomes a refugee crisis. But they're not refugee directors are Americans you've got three and a half million people that are gonna be with out power for the entire island has no power for a safe and missing for a and they and again the governor said it's gonna be three to six months before powers fully restored there. Look that they're gonna get beat the immediate things taking care of the airport a lot of power you know hopefully you know the next weaker to a -- hospitals will be the first thing to get power back but what they get the military down there isn't worried about civil you you're gonna have to I mean only eat eat this is the kind of thing you start going a week two without power. And in today's society that. While you do that went just think about it your teacher in Puerto Rico YE going Tuesday. Right you get a job somewhere else you're electrician in Puerto Rico or carpenter and he any especially your home. A bit eat it no power. Rate you know like I got no income we have no food basic there's going to be a food crises hit flush toilet. Can't take a shower I get that but for for a lot of people stuffed leave her home man no it is you know it's well it would Agassi everyone leave no but the the people were gonna leave unfortunately will be this gold ones the people that are capable of picking a guy. The guy's gonna say. Well gee I'm on the electrician and I can get a job up electorate vote in Groton Connecticut. They are they wanna hire me. I'm on the plane I didn't wanna leave. I was I was gonna hang layered work at the utility but I'm I'm on the boat pat. And the other thing it's that is just the timing of this he says okay if there without power for a five months what's that do the tourism industry for this winter that done I mean the plate that revenues just not happening it's not happening meets. Me and I'll be curious if they can't get the power faster. Disease the other problem they have is that Puerto Rico airport is a hub for the cap Caribbean. If you're going to root yup you're going to Martinique if you go to Guadalupe electric model doesn't exist anymore. A Domonique now doesn't exist and now it's at kill Caribbean tourism. It has been decimated one in what's gonna happen is all the places that weren't hit you talk about like Ruben plays like that person is spike as it was when you add stuff booked on the Virgin Islands around and Dominican everything. There'll just gonna go to the places that are still laughed but will point out that they seek for a gut it. But it was the west end of the island they got hit and east end of the island and even the north side of the island came through. Reasonably well and they probably should be able to support tourism season full tourism season. So if you're if you're thinking about going to the Caribbean are fierce engine and go to virgin court. Check out sink right there will still be a lot of properties available. For rent in the hotels and still have availability. That's all course assuming they get their electricity back which is here to. All it takes Puerto Rico to get electricity back to the toll of the major areas like San Jose lakes and wanna wonder how long dictate play and all the electors all of the resorts or. Eat the big resort gift and actually the same priority there would be about one hour of saint. You have to imagine that's the first priorities get that back up and running in the next IG's legal word to read to Rondo Paul months. There are all in the that. They're all in the east and the round for the most part. I wonder if he starts he and I mean here's the other thing is so. You know you have all these extra trucks that are down in Florida I wonder if somehow they say look and is there wafers to affair some of those over the Puerto Rico just you know get contractors that it worked electrical worker yeah. Actors they've got what bet vast majority of the power back is back up and yeah I wonder some of those guys they would get me on a boat and get my truck on a boat and let's get over there and take a lot of federal money. In Puerto Rica the only year your need a lot of federal money in saint Thomas saint John's saint Croix in Puerto Rico. And I don't know how much out of an appetite there is that money to go down. No I don't know because they don't vote. They don't vote presidential elections so era the senator a congressman there's they have them but they beat their nonvoting so there's a congresswoman. From the divergent but she's not vote. So not much not good Jews out right. Up next we will be joined by Bob lying from thestreet.com. To stocks to chat about next from the financial exchange radio network. Trumps administration hasn't passed any significant legislation yet but tax reform is front and center it past the enemy here. Keep it here with Barry in check 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 but 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 IRS 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 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 is 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 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 its leader bank dot com leader bank a step ahead. But it's very Armstrong and tot lot ski joining you here for a quick legal exchange tip. And taught I wanted to talk to you about these trusts. Do you in that need to create trust if you already have a well I get that question ally unite very irony trust I've got a will. You know sometimes talking about the basics is most important and in your right and people are so confused they'll come and say. I have a will lies they plan is done. And it's really not folks and and and in the reason is once you ask yourself that question it's a futures have a well just ask yourself this do you wanna avoid probate. Well the answer is yes will not doing now atlas you don't own house you own nothing if you're poor. Will probably some places it could designate had no assets make sure you put like designated beneficiaries on your packet you know your brokerage accounts. And you don't trust or are people that have passed sprightly 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 wanna know will as the Walt has it won't avoid probate it will reduce estate taxes you're right if you don't have. Anything you know. The only need a million and to have an estate tax though we won't reduce your state tax there won't avoid pro but it won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that it will will do so I think the answer to the question is yes I think you need more. That it will most of the time. Time to get back to the basics folks call Cushing handle and get their guide about basics of estate planning. The poll number is 8668485699. And most of you prefer to. Download the guide immediately to go to their website legal exchange showed dot com it's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Is it financial exchange radio network. God for stock Dawkins Bob blank from the street easier to talk about a couple railroad companies with those involved thank you for joining us. Hey good morning very shocked not to be repeated. Absolutely it's good to have you Bob let's talk about these railroads here. Are you bullish or bearish on the sector in general. Well the whole Specter is bitterly strong. Actually. Or for other human EP AB eight BC's dark that really shot up. From their lows and middle of August and there's that there's a couple of others that have really quite. Luke is as well as to name is one of them being via back. Which and then eight and earning it you know it a big shot an error. Earnings outlook I am not too optimistic. The recorders at and dock to fumble in July. But it made and I double bottom went and in a bullish at all outer outer pulp. A couple of other well outer the all star which is well ultimately I. Apple bullish and it is down a tiny bit gay but I think it. What this dock at a tree that BE three it through that period in the app which it added July 8. Are right there it is back. Evaluations overall on these companies are looking right now. You know I don't think the valuation. All lap up the rail. There were we are about the fact that they're. They were there were carrying a lot of oil but I'm not curing all that much. Other stuff and energy call that your thing. But it seems like being in turn around a little bit in. There they had a possibility is that they're going to be their number I think a lot of it and and number for the coming quarter and one certainly. The hurricanes probably happening it it would. I think there's a really good possibility that these guys that had been numbers big time and rate guide. One of the things that we've been seeing over the last six to eight months now. Is an increase in the amount of oil being produced by the US menorah pipeline capacity hasn't necessarily kept up there. It is there any additional freight it's going through on energy sector that's helping to keep things afloat. Yeah I I I I I agree that there is aptly the more. Air and in. Any moral load cargo load that he'd. Rail is going to be more profit Gaudin and you know certainly that are well they've inner area and a 4040. To eat in there for for. Quite a few months here now and you know that the the producers here in the United States there are giving up there are continuing. To produce more more crude added that the case the rail or you'd hear it now. And they're gonna they're certainly gonna prop and hit it the other what we're we're gonna talk about. Noticed that thing is ready get ready to opt out brick and all our. Sticking under Saturday and they do a lot of airing material that commodity swap. Good Bob thank you very much for the time. We will get over the soon Bob that is Bob Lang from the street and the tech stickers on those companies Kansas City Southern has the kicker K as you and CSX corporation as the ticker. CS acts but when it happens though if you get. A congress that is more inclined to pass a lot of pipeline bills bring you all the sudden you have. You know of a rapidly expanding network of oil and natural gas pipelines. And believe that hurts the railroad industry should have goods being trans young or even people. But if you took out the energy it or big chunk of the energy that's being transported. Let's that's gonna hit their earnings. It it you would imagine it would mean typically depends on the railroad but oil and gas transportation typically makes a between about 1020%. On a lot of these rail lines. And so would definitely is something that would affect them. It's not something that would cause them to drastically Alter their business but it could affect profitability as they retool for years to what about robotics how does that impact that industry was thinking about that the self driving trucks and in Dade does that become. Less expensive I can't believe it would. But you know what I don't think it's a large enough scale in the next five years to matter anyways none five years they think about if your transfer out. Transporting something from Los Angeles to Boston and you don't want to use a rail to do that. But if your transfer transporting something from New York to Boston I'm not sure rails going to be the cheapest way to do. Is today I'm not sure I totally extra short a short distance costs like that it it it leads you still see a lot of industrial transportation on the rail system now Betty it. I think. In the in the more populated regions it becomes less efficient. Just. Because the the the density. They've market right now the Dow is down twelve points. And checked on well it was over fifty dollars a barrel yesterday closed at fifty dollars to bounce under the gun. Oil is trading folks oil trading at fifty dollars and 62 cents a barrel that's a surprise to many. You've been listening to the first hour of the financial exchange with variant. This is very Armstrong from the financial exchange did you know that once you turn seventy and half you are re. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a poor they get confused as to where to take it 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. 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 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting processing teams for additional information call 8776917. 900 that's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and -- number 449250. Subject to credit approval -- bank a step ahead hi this is -- -- with an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to create -- -- 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 at 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them. 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 86684856. This is the financial exchange with Barry Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck saga. Senator Lindsey Graham of South Carolina and build capacity of Louisiana. Have drafted the latest Republican attempt. To repeal Obama care. The bill would overhaul or eliminate major sections of the health care law including its subsidized insurance coverage and Medicaid expansion. Instead. States. Like new the New England states the six New England states would receive block grants some of the New England states would benefit. Others would be penalized hi everybody it's burying truck with you here. For a quick conversation about the green and Cassidy bill which will be voted on next week do you think people understand what's in this. I don't think people really have a clear understanding of what would be happening yourself. Let's just talk about in terms of federal dollars to New England states and what will be happening at okay. The Gramm tested on these hard numbers. From cast these own office of cases these numbers that pass these put together you can go onto his website on senate dot gov and you can see this right there. And he's been out for about nine days now. And what would happen is that if you are in Maine you say is going to be great Orton get extra three billion dollars that represents an extra 200%. In federal dollars for health cares there's no reason to vote against it India opposed to if you and me know me and says hey this secret were we're gonna get it all this extra cash common. Rhode Island is gonna get one point three billion extra dollars that's a 43% increase Connecticut is gonna get 368. Million dollars that's a 9% and Connecticut loses Vermont rat never promote rapid let's just be clear. Vermont. Mean. And which they Rhode Island they're the winners out of the six New England states correct Massachusetts is the Biggest Loser. Massachusetts gets while Massachusetts loses about five point eight billion dollars in federal funding for health care as the 56%. Reduction. Compared to where they are today. New Hampshire loses 416. Million dollars and healthcare and the governor of new hackers come out in opposition of the bill the Connecticut lose about 368. Million dollars for health care. Okay where's the money don't you man well I will remind you to folks that you know it's 5050 in terms of the states that benefit. But the vast majority of new England's population. Is located in Connecticut New Hampshire and Massachusetts exact probably 80% of doing population. Exactly so what ends up happening right now Massachusetts as an example receives about seven point nine billion dollars in federal funding towards health care. That would be reduced to 3.4 billion. By the end of this bill and 20/20 six. Which is a drastic reduction about six billion dollars less than they would be on pace to receive other. Where's the money go OK we'll big answer is it is going. Two Texas winners Mississippi Kansas Oklahoma Texas Alaska and South Dakota okay. So pretty much this is taking money from states that largely are. Democrat in his statement that money and throwing it to Republican states. It is very clearly that's exactly what's happening it's not doing a whole lot to. Reduced cost or anything it's taking money from one place and moving it to a not that's pretty much what happened. Are you in favor of the Graham Cassidy health care bill you can vote on our website the website is financial exchange showed dot com. After the first hour of the show 53% of you said yes I am in favor of it you know we had so many listeners up in Maine and if you're post what you can also vote we've got 47% of our listeners who are opposed to the grim Cassie health care bill. Tech's number 68680 but the way you vote is financial exchange show. Dot com financial exchange showed dot com and ordered to vote on that poll. All right yesterday we talked about how vulnerable what is going to be investing a billion dollars. In expanding their manufacturing plant. In South Carolina today we're talking about how dialer is going to be spending sixty significant amount of money investing a billion dollars in their Alabama plant. Yet they're gonna be starting production of a fully electric sport utility vehicle. In this Alabama plants they're gonna be investing a billion dollars in order to. Get that ready to to go over the next couple years they're going to what try to have this production beginning. Early in the 2020s are probably in the next four to five years is what they're looking out all electric car in the big thing is they wanna be able to use this as a platform to develop other vehicles there's the potential for some expansion at this plant. As well. And this is already on top of the five point eight billion dollars a dime or has invested in this Alabama plant since 1997. But the company plans offer this I found little bit shocking the company Mercedes then it's. Plans offer more than fifty fully or partly electric vehicles. And by 20/20 two electrify its entire. Mercedes-Benz. Lines the moves fast you believe it. And do what what all electric by 20/20 two. I think they're going to offer them it's not going to be that those are the only vehicles that are offered ample. And see it sounds like that's going to be alongside the gas versions but I don't believe they're gonna be all electric current. How'd he get a better deal when you go to buy a car. Well I'll tell you how you wait until the last week of the quarter and by the way that is next week. And the strategy that was described by air or read this in MarketWatch. Is basically trying to find a vehicle truck that you wanna buy brand new car we're talking about. That's readily available so don't try to find something that's a rare find. Try to find a vehicle that you're gonna you want to buy and that the dealers have a lot of inventory of and then. You creator reverse auction of that vehicle. You know what you can do is first you wanna figure out what those incentives are but then you can also use things. Such as the the time of the month to your advantage you can potentially look to go towards the end of the month when the end of the month in the end the quarters even bigger yep because. You know GM needs to sell a lot of the machetes in the book in them. Quarter yesterday wondering where their fiscal quarter ends and say OK let me make sure I line up there you can do things like if you go mid week you're gonna have a little bit more at attention in a little bit more time just because it's not as busy in the middle of the week. And still buy it. We all you have to do is go to one dealer test drive one car and find out what you want Britain's OK I want. A black camera. And I want this type of interior in these are the so accessories I want to know and then you simply can go electronically. Scan. If you take that price and say okay have been Q was this dealer and now I'm gonna go look at the two or three other ones in the area and they say hey here's a car that I want they're offering me at this price what do you do do little better now. Take it around in some cases. You're able to find deals right now one of the bids that we saw here in there's some was able to get a car about a thousand dollars under invoice. On NC can end up with some pretty good deals if you know the right way to shop. Yeah this guy did did the you know wrote this article he got one car for 2518. Dollars 2518. Does dollars under MS RP. And 958. Dollars under invoice so just because they show you the invoice doesn't mean that that's what they paid for. Well this is what you pay and they show you the invoice and mean and and sales a figure look we consult you below invoice we'll still make it up on the service down the road. Yes that is for sure. Unemployment is so 2009. Labor shortage gives workers an edge that is our next topic with Eduardo. Porter from the New York Times. Next from the financial exchange radio network. Markets continue to fluctuate but we've got you covered get your daily update on what's hot and what's not from 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 -- 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 hi this 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 Dolan at 8668485699. And ask for their brand new guide called back to the basics Todd 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 -- and Dolan 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. If you're in the market for a small business loan you need to call leader bank if you were small business looking to expand or improve your infrastructure you need to take advantage of this great deal from leader bank. For a limited time your business can get an SBA loan of three point 99 annual percentage rate with no closing costs on loans of up to 150000. Dollars and that ray does a locked her four years in a democratic rating of 700 and give you an answer within ten days of receiving your completed application. This is the number you need to call 8776917900. That's 8776917900. Take advantage of this great offer from leader bank a four year fixed rate loan of three point 99 full percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application 8776917900. Right now 8776917900. Member FDIC. This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are re. Juries are for to securities America incorporated member finreg SIPC and advisory services offered to 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 is 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. 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. 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. Baby boomers are retiring at a rate of 101001. Day begs the question. Is a new golden age for American workers around the corner we're joined by Eduardo Porter from the New York Times to talk about that very topic. Good morning Eduardo. Good morning after reading your article I was ready to go to my boss and ask parades. Well weighted have been writing. At. Pretty sharply at least being in real terms that record that cap in place. You know they have let Coakley dole in new eluded to this in your article. Labor participation rate particularly. 2554. Men still way off of historical averages is an. Yeah. Oh yes and back to that read. Labor participation. Of these Manny going acted before and had been declining. Hurry and really in the end of World War II so. It didn't. Really in new new phenomenon I think more or more. And don't look at good right. And so where are you labor or in the ought. What day. EU alluded to a drug addiction. In your article you think that's a portion of that unity you know the open your crisis drug addiction chemical dependency alcoholism. Where did nothing to do you re important fact not hire. The primate guys. Worked for our. On some form. And 200 of those are on them. Like he did you know you which called fiction. And though Alan Krueger and never actually argued that about it. The end of the decline in the labor why in primate though. I think in May and in 1999. Is into the increase in the used to be. Oh the painkiller. So Eduardo when you look at the job market the job scene if you will. Why have we not seen much more. Wage growth wage growth. I think has been anemic fiddle and I've been looking for wage growth for the last three or four years because I keep hearing about worker shortages but nobody's making any more money. Well in a way I would take that back why I think what happened. Is that wage growth in nominal terms I think the headline number for weak Euro had been very low by historic. But but acted also that inflation has been dramatically low or. And so if you look at the real wage increase. The real wage at the media that is you know half the workers are doing better workers who work at that point. The median wage for all ironworker is growing about it. It was growing during the dotcom boom of the ninety which wasn't going to be buried wait. So in in the way that notion that wages are. He is I think it product something that the money in the right that that the nominal number looks so small. And and also to be there is because we're coming out of there very long period. Of a wage stagnation which goes back decades. And period of dramatic lead back labor conditions. Big secret that. Would what impact will robotics have on worker shortage Oscars I talked to somebody in the restaurant business. And they are looking at a major capital expenditures near in the fast food restaurant business. They're looking at a major capital expenditure on robotics. And they think they can reduce their headcount substantially. Yeah well look I think that there or yeah it is true the question. Wedding and then that will bet you know the entire work so that it did. Trend I've thought about it. Tiny man leading the labor or at least in the World War II is more or less a story about technology. Taking out the jobs. The guy on the bottom end of the field to let skill work it is currently going on for very long time. Because we had replacement. Workers by machines. Computers and what secretaries guys work in factories and or for some time now. I've been quick and add it back to continue and I do we expect to be acting skill level but both are doing routine stop. Are likely to be out of a job within ten years if not suing her because of automation because you know machines are really good it. And that he. That vote and are either on the very creative side of the labor you know and then fighting. Books and stuff. Or people at the very bottom and that the labor market or maybe. Treating people in and they help older boat in. A nursing homes are in their all. I think those are the order book eat to audit. And the little heated and it was a good thing going on right now he ought to make it all job. In the middle of the way it can be assured nothing but not that much at the bottom and it. So let me just be clearer on this it's a good time to be registered nurse. Probably a bad time to be cashier or warehouse worker. Yeah. And perhaps in only ten years behind in the Google are ever a good year read about the. Yeah now you know. You today you know your your preaching to the choir. I've I've been telling my kids he'd better develop a scale because if you're not good at something it's hard to do. If you're not doing a job that can't be done by iRobot you might be at work. Yet I don't think it always. Remember is right this year that will. All the is an old. Way EO hundreds of years ago and it never has quite happen. Technology has to reach secret of the job market continues. Not that the job but he did read in other. And depending on where you are. On the on the on the spectrum Europe that we need to get back into the thing about it and determine your future right you are positioning. Of these changes. From going to be a big deal as well. And and and that had a lot to do we you know education. But that Eduardo have we ever had a period of time where technology. Improve this rapidly before unity you're talking about the industrial revolution perhaps where you know people came off the farms to work in factories. In the big cities a hundred years ago but if we ever seen anything like this before perhaps we have. It didn't yet. Even sure that if the predictably. It is that is erupting because it didn't believe god has given it you know what they're famous quote I yield eight out saying. We want it flying cars and we got a 140 characters. And and to some extent I think that true. Remember her so that we're that we're war. We're been seen mode of transportation where horse drawn buggies and that they unmanned put it on the moon means that. They economic reformation of the twentieth century world are absolutely remarkable. You know I he looks super cool. I wouldn't look like the back after me and that brought the railway to combustion engine that telephone you know. Air travel. You know and had Trent that this extra being you know make it hard to read the piece things. Eduardo thanks for your time and great researcher on the article we are very much appreciated. It Eduardo Porter New York Times and he raises a good point fairness in the community they about a hundred years ago there were 24 million horses in the United States. And now the other nine. Yeah it's it it we we always have an economy that's in transition Porsche used to be like the fame the car. Oh yeah and you know we take you to church that what were able to do now is as dramatically. Changed you just the last ten years you think back the first I've booms ten years ago. Think about what's changed since then in terms of you know how often do you have to go to the bank now wait we need when I go to deposit the check out of the we may take a picture and my phone I wonder unity but I think most everybody has switched over to not necessarily an iPhone but certainly. Some kind of a Smartphone I have a friend he's a plumber. And he would give me so much grief about my iPhone. And then. Finally. I hadn't seen him in about six months he pulled out a Smartphone and all it did I give him the Dickens as he kept saying you don't need a Smart enough but phones and. We'll tell you for a lot of the lot of guys in the trades Avaya an H back guy that I used to. And he runs the whole business office phone so we you know comes to my place does everything and then just put everything right into his phone emails mean invoice and everything's don't talk to a real estate agent. Oh yeah I mean that that's a business where you do everything on the. A lot of realtors will walk around with an iPad and nose to the yep it is and yet the bigger the bigger view and they wanna show. Their prospective client. But I agree you know they have their purchase and sale agreement on there're. I phoned a shower here they get referrals for mortgages the referral home inspectors and in the US right now the the percentage penetration of Smartphones so how many what what percentage of phone users have Smartphones let me guess because it would he use it it wasn't long ago when it was like 5050. Now I'm gonna say 8730. About 80% 80% 80% Smartphones still 20% dumb phones but as recently as the third quarter of 2012 sit just five years ago now it was 5050. I ever brother in law he still got a football. But for him via I'm hoping to go back when at some point. It we we get pretty addicted to those tools the Dow's off fifteen points and oil surprising to me. Is trading over fifty dollars a barrel fifty dollars and 66 cents per barrel as the price of war. Gold is down 1222 dollars an ounce at 1293 the Dow is down thirteen points at 22399. When we come back. We're going to be talking about Rhode Island house sale prices. You've got Barry Armstrong. Financial exchange shall look I mean she'll exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense give leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seven Indian 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 -- -- they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated 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 Todd let's -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new -- out this -- called back to the basics it'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 handle right now -- 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them -- -- at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your -- years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks 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 would see 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 and to learn more or call 7816 or 18691. Very our churn here and I'm joined by vice president GA tour. From leader bank. We're talking about zero rent this is exciting B zero rent isn't method for landlords to collect their rent electronically. But there's now find refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. All right so easy rent is a product we innovative leader being. I'm and it can be found eight www. Siren dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic. And it's. So there's several advantages first in saying goodbye to being reliant on the use Postal Service. Good night to delays in the mail and no more need for paper check right where Israel and a lot of millennial Estonian and have a checkbook re getting that all the time Elaine horrible call in and sign up because his tendon saying you didn't check the British really starts to get funnies when you your landlord and you have. Multiple tenants living in units this grad students your university. Well right now they're all writing multiple checks and sending them in and for a landlord that source become confusing pain in the neck so would you read will do is it will actually deputy each tenant can individually matches in 101 payment for that unit to landlord. And then of course there are some reports in notification that electric stuff. But going back to your question a Condo association's a lot of Condo associations have been using human as well because the Condo. Payments that kind of the shirt to every month at the scene so they've been signing up and there's a version of the rent for condos. I'll be darned well sounds like a something that you need to learn more about folks visit. Zebra dot net to learn more that's a website address or call them at 8776917900. Toll free 8776917900. Why collect your rent or your Condo fees with paper checks get with the modern age go to easy rent dot net or call them toll free 8776. I'm 17900. They say video pads ten pounds. But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. Peter bank is offering savings account providing free online banking with me one point 15% annual percentage deal this is an online product only and there is no minimum balance. Log on to leader bank dot com and sign up today Rhode Island housing market surprisingly strong prices up sales. Prices up by 6% to 260000. For the median price for single family home. A number of sales up as well 11156. Houses sold in August of this year compared to 1112 last year so. Interestingly enough Rhode Island does appear to have a housing market that both has decent inventory and prices are rising in most of the country inventories are down but prices are going up here. There's still a decent number of homes that are on sale right now. And so inventories are a little bit tight. But obviously that they're still posing a decent amount of sales. Here's a stock I wish I had bought some of the gun Alnylam. Pharmaceuticals this is a Boston based company Cambridge yes. About the stock for 31 bucks last year. I knew about didn't by the way I knew about these guys about seven or eight years ago doing some reading on them then I was not Smart enough to invest at the time had I've been. The stock was trading around ten dollars a share today it's a 114. So that's an oops on my partner new drug looks like it's gonna. Make some money yeah would they would they do they specialize in a process. Called RNA interference and pretty much what it does. Is a process that uses genetic code. To try to shut down genes that cause different diseases so anything. There they're hoping to be able to use the technology to. Create treatments for anything from cancer to autoimmune disorders lupus and things like that. Whole bunch of different ways that they can potentially use this. But what they are using it for. First of what this first development was four so the called familial amyloid neuropathy. It's caused by mutation in the gene that ends up with the protein PO. Ending up in non nerves and so forth so about 101000 patients and the world that have this so it's it's one of these drugs that is targeting a very narrow problem. In the technology be used for the application of other drugs because it seems like an awful lot of money for 101000 people the that the overall technology they're trying to develop it in order to use in other areas of the trying to use it. In treating a type of liver disease they're trying to use it. A greater number of applications and just 101000 people exacted their total things that they can potentially be used for they've targeted these very narrow diseases that person but I mean this the kind of thing that you might be able to use the whole host of applications. But that's a long whale. And I don't forget during the month of September you can call Cushing in Dolan. And receive their free guide it's back to the basics a complete guide to estate and asset protection planning. Their phone number is 8668485699. We can download the guide right now by going to legal exchange show dot com. Coles the department store. Might be making the same catastrophic mistake. That's spelled doom for Toys 'R' Us I don't think so I think it's I I I like Kohl's is doing here but let's talk of. You know what what Coles is doing is they announced that starting in October 82 locations in Los Angeles and Chicago. Gonna start accepting returns for items that are bought on Amazon and so they're also going to begin selling some Amazon devices in about ten stores. And so they're trying to develop these partnerships with Amazon. Saying hey if it if we can't beat them join them we might. Why would somebody let's say I've bots. I bots and toothpaste and Amazon was delivered yesterday chore. If I didn't like it could Niger ship it back in the same package and say -- he sent me the robbery and you could so I don't quite understand what this does like I don't know who says GA got the wrong thing or I didn't like what I got let me go overturn it somewhere as opposed to shipping at some of the must feel that it's gonna create traffic in their stores as the only logical reason. I can think facility at a TV ship Tia. And it's broken. You dig into the low noble store they take you back. And you exchange and I are currently yet credit they're dropping it off yeah I mean that that's that's what they're saying I don't I don't quite understand how this is going to create. Much of anything uncle's well I there are people. And think either as I can what I gets up wrong like I bought some. Some seek sneakers and there the wrong sides. And in the box and ship them back in the seminary it's bright and I'm not gonna drive to a Kohl's and say gee I wanna returns. Like I I just. I don't know where you only it's that big a good thing or bad thing is that it has as much ado about nothing it's like a case of great you allow me to return Amazon items that Coles what. Does that do for me like how many people are gonna do that. Amazon is changing the manner in which whole foods does business and they're really moving them towards being a conventional. Supermarket one of the things that and a whole foods had going forward. Was a lot of local goods that you could purchase in whole foods baked goods. Jolie's things things that were made by local purveyors yup Amazon's saint act we're decentralizing. Everything's got to come out of our house. Yeah Amazon's looking to like get everything pretty much just standardized throughout the stores in order to lower cost and be able to lower prices as a result then. In this this is exactly where I thought they were going to be taking this company is I thought they were gonna start taking things a little bit more down market in trying to get the sense I get or prices down right and that's exactly where I think they're real but. Yelled at the counter side of that is you're not going to be of the get. That locally were baked bread during the local pot that was made by the woman. Who just made pies for that whole foods. No it and that's something that I think could hurt them with the niche of their customers I think there's definitely part of a customer base that likes those things they must be weighing that in saying you have but if we drop prices by 12%. Were better off well and and and here's the thing. If the item isn't there anymore and you're talking about predominately. Locations that are heavily trafficked by millennial and and and people. With a lot of disposable income. How often those people really was AGF can't get it here anymore I'm gonna do much shopping somewhere else you still can do the ball shopping at whole foods it's just that item you might get some Morales a whole foods. And Amazon I think. They're making the calculus saying yeah we might lose out on that sale of the item but we still are gonna keep the customer. Is blue apron a competitor to the company called pleaded PL ET ED yep they do do I think they they do pretty much the same thing eventually got a good friend Yahoo! is. Over at plated. From college and does a lot of the menu design. There aren't but they're very similar companies they are meal delivery kits. And so Albertson's. Is buying plated. And so this is why would they buy an Albertson's a big growth restore company 2300 stores across the United States yup. I think it's is that recognizing hey we need to be able to do something on line and this is the direction that they're trying to take that. I'd like I I I wish I don't know ought to I'll give you an example. I'm gonna get home from work late tonight. It would be wonderful in my local grocery store Shaw's it would be wonderful like an open up the app on my full. Order prepared meal in also ordered the other four items that I need for the first. And bill and I if like its jackets with times now 1140 if I can do that it knew when I get off the year. Order that and say I want that delivered between. Six and six there. And know that it was gonna be there sitting in a cooler in front porch. We used that you wouldn't you use that kind of service is that something you'd find appealing. You have time to go to your first dude don't all I must not be working you hard enough if you of them don't all of the statistics about blue apron and all these companies to that no one keeps using them. Well but this is different it is not do it yes it is blue apron is strictly a prepared meal. Pleaded being bought by Albertson's. Means that that he will be coming out of the local grocery store at least that's when they're not going to be able to do seem to deliver for ten years that would be that is what would they don't have the delivery they don't have the the delivery infrastructure the city just buying the the buying it they wanna stop the meals on their stores. That I don't know it's I. That I hope that you pay a lot of money like I I do not believe what they describe what you believe that what I just described he doesn't appeal. Why you don't think that's good one. Having a prepared meals delivered to your house 23 kids. The EU we wouldn't have any kids that out right now. I know that it's I mean aren't I am in nor act I've got a boot wearing. You notable greens yes I have a boomer I have a 24 Euro boobs are here that that that he hates it's it's fun needs to we're still the first 72 hours. After 72 hours. Honeymoon period right now the game. Is Monday night we picked them up he'd been gone for thirteen months and restarted finding things to left around the house and place that he didn't leave them. Not yet. You know it's good news he spends more time at his brother's house and he does ours so it's actually working you know quickness and his daddy's brother broad it's a anyway. When we come back where it talked about out. The SEC disclosing. This is bad story be the SEC was hacked. End. Of being. It it doesn't get much worse than they'd be SEC being hacked explain why when we return to the financial exchange radio network. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten Dennis is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- 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 is no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay log -- 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 -- leader bank dot com leader bank a step ahead. 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 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. -- their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested in he ran 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 C rent 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 Z rent 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 representatives Armstrong advisory group in the securities America companies are unaffiliated. Vote on our daily poll question at financial extreme showed dot com while you're there buyer of the media player and watch the show while you work. This is the financial exchange radio network. And I think perhaps. To start doing a segment called breach of the day today's breach of the day is. The top US markets regulator that would be the SEC. Disclosed on Wednesdays that hackers had penetrated its electronic system for storing. Public company filings last year and may have traded on that information well it would be very hard figure. At a trade on yet the SEC has a a regulatory filing system called Edgar that has anything from. Quarterly reports annual reports insider sales all that info. Goes into that system and it's not just that it goes into that system exactly when it's released. It's typically held their prior to release they can release it you know when it's actually supposed to come out. And so what they found is that there was a software vulnerability in the Edgar system. And so that there was a hack back in 2016. And that some nonpublic information was made available in this hack and likely traded on. Okay they have not announced the extent of the hack they did not announce if they found any evidence of trading after this. While the problem is they don't even know who. You know you that's that's that I don't think I probably know. You do you think so I guess he Equifax thing yes you know who they know. I I am willing to gear and tidy you know music don't they bounce the signals all I've ever yet but I'd I guarantee you that the people actually working on now that by this point Dana. They won't they won't tell us necessarily but they do about it. These areas safe by narrows. We'll do a little or somebody from Yugoslavia and that actors into the jurisdiction is a lot of cases you can't do you know on darn things you know North Korea attacked us in a lot of cases you can be able to do anything of its country doesn't have extradition and not want to cooperate what are you gonna do. How old board would you have to be. To watch the San Francisco 49ers play the Los Angeles rams and I mean I. I'd have to be pretty board created this is a a match up by the way that last year. During one of their matchup the two teams combined for over one mile and Ponce. Okay. So bad things it's that's not good that's not what you wanna see in a football game you don't go there to watch people up punt the football over a mile you can buy tickets for this game. On each day. For fourteen dollars. How much it would cost if you wanted to go to the pats they're playing Houston I looked how much pats gained cheapest ticket in stadiums 150 dollars did you get one for a 150. I only on that stuff publicly owned well you know. And that of the EU bride gets front row seat for fifteen bucks to this game yet this the other people the heat will actually go to the scheme to. Home 20000 and it is what it is in L layers dollars incidental Cisco deficit got as you can get to the state the though get props on ballot get 4550000. People that they don't go get that if it was in LA on a Thursday. I would say they'd get maybe 30000 to forty niners are all in two. And the worst team and worst here football player that Cleveland's worse a clear Clinton might be okay this year Cleveland might win five or six games all. Clearly exactly favored the favored it. And their Sunday game for the first time and some how you know clear agreement is favored to play who they play it if they don't play like I even. University all of their play at that point at India favored on a road game for the first time in late. Eighteen years something's in the new franchise has been on their public money and Jacoby percent to used to play for the pays or whether he'll be playing in for Italy beat plain. I think so yet outlook still out and doesn't know when he does that franchise that the stench of losing just enveloped Hugo General Electric like what their deal. GE has a new CEO whose names Flannery. And nice Irish sport. And on. He's EE if you're into the market of buying a jet GE is get rid of their jet fleet this this this. Tells me this guy's numbness and around they are shutting down there their corporate jet fleet and getting rid of the internal airline that they've been operating. And so looks like you're going to be flying commercial if you worked for GE these days maybe he he put the kibosh on the new home office in Boston. He sold off the fleet database to store their planes out it hands them and then they had hanger is Logan. But there are. An era he might leave the CEO he's doing it very early in his tenure. He's clearly taken a lot of heat from the hedge funds hedge funds that law all a lot of the stock yup. And in this is not something that you know is a new development at G this this. Jet fleet has been around for the last 3040 years you know something that executives have been accustomed to so. I'm sure that they're not thrilled internally that this is the best thing if your stock. Though Wall Street Journal conducted a hole. As it relates to Donald Trump's outreach. Two Democrats in the poll found that 71%. Of adults in the United States approved. And 8% disapproved of mr. trump bypassing. GOP leaders to strike a short term spending deal with congress' democratic leaders truck. Schumer and Nancy Pelosi I'm among that group of 71%. I don't make it had a big effect that it had. Was basically a message to congress which is. Hey I'm not a Republican and I'm not a Democrat and whoever the hell I want to do it do to advance my agenda. And you need to get on board or get out. It's it's kicking the buck to congress I think it's a tremendous and I think it was the right move at the time I think it. You know again hopefully tries to jumpstart some things farce tax reform and so forth and saying look at clear the decks for you you guys gotta get your act together now. And so we'll see if five congress is able to get things done by the way. Very negative view on not congress in particular. The leadership in congress 41% have a negative view of Mitch McConnell including 25% of Republicans and 40% view Paul Ryan and favorably including 21% of Republicans probably did not think of them unfavorably if they know I was three years while it worse than. The the glee lied to us for years we've got a better deal for you on health C on Kabul about action you can lie to me as long as you get something done I like I don't care you can lie you can she do it whatever you gotta do you can you can lie. As long as you you'd better at getting things done you assume they're gonna. Action oriented OPEC not action oriented. The president's job approval rating aged up for the first time since the spring rising three percentage points to 43%. I will tell you that is still the lowest mark for modern president at this point in their first term. Mentioned. Should death CBS be concerned that Amazon's getting in the drug supply chain business. Probably now you know any time Amazon starts poking around anywhere you wanna get ill little nervous I own that stock. If and a not talking about Amazon I own CDS and some of you mailed it to. When I'm curious so I almost wonder if they want to be a supplier some of these pharmacies instead of being the end. And pharmacy a tight they would do a heck of a lot better job because you try to use the CBS apt. For now ordering your drugs idea I get my drugs CDS. And just it's not you be cleaner and easier to fight it might doc would say hey what's your Amazon account number and then let me order for there I'd prefer that. I'd prefer to get my drive from Amazon is posts and yes. Hey thanks for tuning into the financial exchange today oil still trading over fifty dollars a barrel at fifty dollars and 64 cents. Gold selling off at 21 dollars an ounce. And the S&P is down four point is very truck from the financial exchange. Radio network.