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Full Show 9-26-17

Sep 26, 2017|

Full Show 9-26-17 by The Financial Exchange

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This is the financial exchange with the very Armstrong and chunks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The Wall Street Journal is reporting that federal law enforcement officials are expected to arrest at least. A half dozen people and unsealed charges Tuesday as part of me wide ranging investigation. Into alleged. Bribery and kickback schemes at several of the country's top tier college basketball program people with them Matt familiar. With the matter said I everybody's very instructive. We we kept getting preempted in terms of our lead stories today I thought it was going to be the Equifax story turned out to be the basketball's. You know get this one coming out and what this is alleging is that coaches or other people associated with teams. May have been steering their players towards financial advisors agent or apparel companies in exchange for kickbacks from those companies. And so while we don't know exactly who was expected to be named in this that's what he's unsealed but. The chatter is that it could be some pretty substantial programs well in you would have to be in order to be Warren to toward kickback. It's it's got to be a top tier programs got to be team I would think. In the top ten in the country. Yeah I mean you're you're talking about our players who are able to make that jump to the NBA in command. You know big apparel deals and things so who are the top basketball program perennial top basketball programs in the country at Kentucky duke. Duke it was Kansas Kansas and North Carolina duke is I'd I'd be shocked at duke Lyle. Kirsch ASCII is such a streak shooter he would just I think they're all corrupt for all lighting and I I guess is PA duke Kansas Kentucky UCLA North Carolina Louisville. Which are Tino. Louisville tears at Louisville and aware of how about cop car. Doctor talk to Kentucky. Why would the coaches need kickbacks and don't they make like five million bucks a year some make more not. You know maybe it's the same reason why do you have you know executives that is it at the summary they'll be the idiot the ideas that the coaches are getting kickbacks maybe it's assistant coaches say could be assistant coaches we have there's a lot of times assistant coaches might do a significant amount of recruiting and might have a good amount they've relationship with the kid that's able to steer them. To a certain apparel company or so for those who wrote they're saying this is that case agents financial advisors you know it anyone along those lines. What I'm curious about is if you see the NCAA get involved in this as well. Just in terms of doing anything depending on me whether teams were near putting an eligible players out there but. I don't know how do you know the NCAA is good news they're gonna say. All the uniform money now comes to the NCAA yes canceling your own deals with Nike. Whenever I can and do regulate it every team would leave the NCAA immediately. I don't know I don't know it to be it'll be interesting to see here this is. If this this is a story. Well we'll have more details by tomorrow shale play and that's where I've new home sales came out gosh eight minutes ago. And we have estimated that there would be 585000. New houses sold when I say new houses are talking about new leak. Arctic homes are have actually gets information or you do on the on what's what's breaking here. Coca so the FBI arrested 10 people this morning on charges of fraud and corruption. And they announced that basketball coaches now know these are head or assistant basketball coach so it's unclear at this point. But basketball coaches at University of Arizona. Auburn San Diego State and Oklahoma State University had been arrested as well as managers financial advisors. Andy representative of a major international sportswear company like U of AB it is a big basketball gym data the director of global sports marketing for Adidas was named as a defendant in this case and that's not a good that's on you for this charged making and concealing bribe payments to high school student athletes and we're at a high ramblings. And coaches dress OK I've got coaches Tony bland as cystic coached San Diego State. Chuck Connors person associate head coach at Auburn will not Evans associate head coach and recruiting coordinator for Oklahoma State. And Emanuel Richardson assistant coach for University of Arizona. The ahead of sports marketing for dieters is going to be in some hot water to looks like now they're saying that with others who paid heist they paid high school players to go through do you schools. Then signed with the d.s later when you see the we its not the head coaches that are make in the five million bucks a year it's assisting coaches don't make much. Yeah and you've also got it looks lake other defendants include moral code who was ahead of Nike's Phil we use basketball leagues in 2013. Christian Dawkins who's a former sports agent who was fired in May for church 42000 dollars and overrides on an NBA players credit card. In which is just. I don't even know how you run up 42000 dollars easily artisans like is that that's a lot of travel there. So it's it. Not not good for these teams are moving on. New home sales to my point. Down 3.4 percent for the month at 560000. New alluded earlier do you think this might be working. But do if you've got a lot of construction down in that Houston area that goes on. And hurricane Harvey hit right at the end of August when you typically seeing a lot of closings happening. And so I think that's certainly part of this could be hurricane related but it might be October November before we start to get normalized data again. Then Tucker brought to. Story to my attention Equifax CEO suddenly retires following an epic data breach affecting 143. Million dollars. His name was Richard Smith these CEO and chairman of Equifax. Only 57 years old or 57 years old he is scheduled to appear at a hearing of the senate banking committee next month he's currently the only person scheduled testify there which means he's gonna get yelled that by Elizabeth Ward well he kinda deserves it in this case you know it's he'd be. That kind deserves he absolutely does. On the eve deputies data breach in the history of the world that happened under watch these well paid last year he made one point 45 million dollars and his bonus was three million dollars so he can afford to retire. Is little doubt in my mind that he will be in the soup. And he did a wonderful guy like this could reemerge he's long term GE guy. Well trained. He is very I think there's a chance he goes to jail no. It to criminal here. What you mean there's no criminal oddities like he maliciously exposed credit. Well no but neatly you can you can have levels of negligence and so forth that run. There they had this happen late. Six months ago and didn't escalate. There's some serious issues here especially if it does turn out there's insider trading happening on his watch and put it on the overall Tucker on the board trucks and that Rick Smith's gonna go to jail and I say he does not aren't regular post its. And if he did it's going to be two years before the pair of Tony the league this is a big deal. This. Yeah these are ideal I recognize it's a 143 million people in Albany it's it's it again. It wasn't like he intentionally. Did they it next week ignorance is not the the way that you can save the idea of to get out of crime. And Aussie. Hey it's. The entire Dallas cowboy team kneeled prior to Monday Night Football. And an opening bell is not a bad headlines and now I don't think that's award at its notes as a write off on off on a get a tiger and under the English major. Thing is and ultimately stood up for the National Anthem and people still booed. But what what's what's wrong with like you know you'll see players tree. Before game after. Rate if you go to an NFL game is that pretty commonplace it is easy to players from opposite teams going in and zone in the pretty what's what's were. Why are they being criticized. For viewing is a team prior to the anthem nationalist and then they stood up in the saluted national. It there should be absolutely no problem with us because if if in theory of the promise that you're not respecting the flag now. You're respecting the flag and doing this so if people are born someone who's kneeling prior to the end and it's pretty clear that they simply don't want. That person to be doing whatever it is they're doing which is a very different issue. From the flag issue. And then in. Follow up to that story Alejandro Villa nueva. His merchandise is selling faster than any other players including Tom very. Yeah and build new way of it is an offensive lineman for the Pittsburgh Steelers. And his Jersey did become the best selling Jersey in the NFL why in a 24 hours band he was the Steelers have decided as a team to remain in the the locker room for the National Anthem in order to try to remove their players from any potential controversy. Build a wave ended up standing just outside the tunnel that they come out of and so he was the lone player for the Steelers that was. Present and standing during the national at. Listen to these military honors with first off three tourists in Afghanistan as an army bringing up those guys are that. Earned two bronze star medals including the V for valor for rescuing wounded soldiers while under fire in Kandahar Province in Afghanistan. National defense service medal Afghanistan campaign with a campaign star. Global war on terrorism service ribbon my this guy is a decorated working out decorate yeah and he's playing in the NFL. He's in you know this is some what ever heard of him before. He's been in the NFL for about three years now is that he he is started 29 games so he's he's got to have some talent. And you know obviously he had gone to while West Point and then served. Yet he went to West Point then served in the army as a ranger so mean you're talking about the best of the best out there. When it comes to people and our military. Served in the army for it it was five or six years. And then came back and decide they want to play in the NFL afterwards that we started in the NFL I think age 26 point seven pull. Question today is do you agree with how the Dallas Cowboys handled the National Anthem I normally hate everything Dallas Cowboys that. I I thought they'd I thought that was a good approach but that's just one now wasn't during the anthem so Rhett. And so what's wrong with a and the east the stood up and saluted like so anyway. That's our poll question you participate in the poll by going to our web site financial exchange showed dot com. Up next will be joined by Jessica lots from the National Association of Realtors. We're talking about attitudes towards home buying 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 aren't break here we Berrian jog on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and your assets is essential to your ability to enjoy your later years advanced estate planning as many benefits and if you're like me you should want some sound advice on the best way to set up your state Titus is very Armstrong and if you're in need of state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and -- at 8668485699. And ask for their brand new guide called back to the basics -- lets -- host of the legal exchange radio program will educate you on the basics of creating your state plan including how to avoid probate and estate tax reduction call 8668485699. To get your free guide today the law firm of Cushing and dole has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay 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 online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Who's a vice president and leader bank and we're talking about the housing market. The housing market as you know. You know short of supply. Long on demand. And Jake for first time homebuyers. What what is your message to the young couple earn just somebody's out there looking to purchase their first time home. Yes so you know for first time home buyers what we are telling men are a couple things one be patient. Yes you know we we see a lot of first time home buyers who are making five and fifteen offers two for fighting house now and offers except it's extremely. Okay. And so they have to temper their expectations. Oftentimes they're they're paying more than other half do. Paying more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. You know it's very pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware. Of all the mortgage products that are out there that are relevant to tell us about this leaders thirty yes so we're really excited about this product we just launched its cult leader thirty. And essentially what it is is that fixed rate loan from where if you sign up to pay your mortgage automatically electronically that everybody does for the first year. You get to lower your interest repayments by 1% that's very helpful offer because what it does is it 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 bot. A hole. And when I've refinance my properties have always used leader bank they are terrific bank you can call the people free at 8776917900. Or visit them online leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America and member finreg SIPC. Advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor Larry Kudlow every Friday at 1045. Polling here on the financial exchange radio network. Real estate is the backbone of the American economy and we're joined now by Jessica lots from the National Association of Realtors. Jessica power renters feeling about buying a home today compared to a year ago welcome. Good morning I'm so banter today I think he you are and it and you'd think the ticket and I are are the she locked order. But it potentially blacks from a year ago it was about sixty per Ernie your. So their bullish on renting. What about seller what about homeowners would about my generation the baby boomers do they feel too good time to list their home for sale. So unfortunately or fortunately at the curtain on a homeowners out the good and I couldn't speech. That sentiment is being robbed them of homeowners. And thinking now advocate and I. I am now the good thing that we are. We know what about selling they'll weigh ID it would abouts is like do. Do people think it's a good time say they've they've bought their house thirty years ago when they're gonna retire to the K is this a good time to sell does that how they're feeling. Absolutely and we are being that I'm filing an inquiry. That it and eighty course and I'm Andy back and you are I. I'm out at piper and my order and he and Tony your elks. So increasing. And fortunately in the northeast heat would be that sentiment is not on the other air an Indonesian but it's so high it at a one person I'm oh about three quarters and and how is that I'm on the marquee. So if that's the case Chesko wire inventory levels sole right if if everybody thinks a 75% of us that it's a good time to sell. Yet anytime I talk to a realtor they'll Tommy the authenticity you don't know realist their house. Well it infects. Wondered. If you look at how strict they are is they're going to be how you do that and Q on the I'm an exit that. At and nervous her there I think also people I instinctively know it and out ticket at a discount but that in the electorate and market not. I would Lou how are people feeling about the economy and in specifically. We should talk about two segments of our society people with incomes greater than 50000 dollars in people with incomes less than 50000 dollars. Right now we get to see that coupled with higher income. I'm up their households that are living in more portable areas and in the last start out. They are the most optimistic about buying right now on their the most optimistic about the economy I at present there are portable they are just the cost of living is more. There are seeing that under it more optimism. How how odd how much is fear playing into people's desire. To buy in other words you know I've got a 26 year old son whose rent goes up to 300 bucks a month every year. It is that what's motivating people to say hey I need to stop ranting and buy a place. That's a great question LB we get survey that ardor and means looked at record. And our expectations on their brand and we know that are around the country at an increase in Italy. And when we ask our rent or you expect you're right to continuing creek and half of them you shook but if Iran increased it and dealt either to at least primarily. Maybe helmet to occur until and it rat are roomy and I'm only sixteen acres and would say. I'm gonna consider our hall and after chalking up money we aren't really hit it down. So speaking of down payment what is the typical down payment. For first time home buyer not talk about the guys its role and over and and bind a second house or vacation property that. Nobody beat the guy that graduated college five years ago ten years ago how much are they putting down when they buy that starter home. So we have found a the last three years the typical argument here person who desire. It expert and content so it did not act the ins it's not your 20% down interrogating and the loan products that are available. Especially the first and homebuyers are seeking an image of local programs are Elba you know the help them get into all. If that's the case then why aren't their more buyers and me 6% does not a significant amount of money if you're buying a 300000 our home. Mean yesterday 181000 dollars I mean. That if after five your purity time saving 181000 dollars should not be that difficult. So there's chip Reid and there aren't that I am being intimate yet. One parent misconception about in an earlier typical aren't out I mean not note the loan product are available and I am unbeaten at the aware. And other problem is the inventory obviously in that period theories Jerry page. I am but I'm competent job keeping an expert and I'm like you use our secure and to increase and you know and that. You're going to have a hard time chalking it. Would what percentage of home buyers. This year will be first time homebuyers and in what are we wanna see that number. The error that you know remembered that we have it on November of last year they were calculating that you're ever out and it would that thirty I'd. Now that's not bad right that's a bad cloud. It's not ready because we would want to start well norm and to be about forty per among primary apartment I bet that jumping around in the thirties. And 2011 which is the car. Yeah but just it's a different times you have a much older population. You have you adjusted for young demographic changes. Earlier an older population of money out aren't electric population and the lack now. You would want that Allen nailed to Ian and increase homeowner. All right Jessica thank you very much for Tyler per share. The gentlemen you two colonials. Why is your generation not by all the she alluded student loans is that part of a talker yeah I think that's a major Yorkshire and the other thing she mentioned was rent if you're renting right now it's hard to save up for down payment. And I did a company Vietnamese. At CES are both thirty years older around there tournament how many of your friends have two jobs or working 7080 hours a week. Between photos when you go to you're not many but a couple you know. Chuck couple of Tom. That was it may be it's a generational difference that when when I was jury draws in my twenties trying to bide my first house. I would work sixty hours a week in my day job and then I would refereed hockey games at night you know you were the exception now. You can go take a look hours worked on various demographics even though there's no average working 6080 hours a week now. You'd be except when adding that part of it guys they just was suggesting. Is that you know the people that old homes often times are the ones that are. Worked in real art either that or they've got rich parents and help them. How much EC that C a lot of parents open people. A good amount of it but I I still think that when you talk about the biggest problems for. People trying to buy a house now a student loans of one of them mobilize. What they're not making good money at the a lot of people make bad financial decisions to people spend way too much sugar with you there hey coming up are we talking about apple what's going on with their share price all that more from the financial exchange radio network. Making your Smartphone even smaller here Dell logo mobile lab by surging financial exchange show in iTunes or those who. Good place doors. 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 Haslett a brand today with zero and leader banks all mine rent collection tool he ran automatically deducts tenant's rent and deposited into your account visit www. C rent dot net to learn more would you rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 781 at 6418691. 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 war they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% 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 to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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Member FDIC it's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing calling 8776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Time now for Wall Street watch a look at the market's performance so far today but I don't Berrian jug right here on the financial exchange radio network. Michael Armstrong is now witness for Wall Street watch might look at you fun Equifax store what's new today. Just about every area but they'll spread out Roberts that the current CEO as now that he's retiring. You know a bit all of the not just awful to go back companies decide it's probably best somebody else take the lead unclear what's going to be happening there today. Stepped up for the start folic for a minority has been as down nearly 2% on this news and so it was set to appear for the senate bank here permitting next month the what happened there. Talk a little bit about ascend a retail as a company that's down 62% for the year up 6% today. First question is who are they and second is why are they moving. Sure search center retail owns the number of different retailers neatly and you know they like all of they don't Dress Barn and the big ones would be and Taylor and off so. Pretty popular stories but like many retailers very much struggling this court they did have a slight profit just corner of five cents a share which you know. Most of us were expecting a slight loss. They're revenue beaten comps sales fell but not quite as much as expected Aggies that this company has really struggled the last one year and having a bit of your coverage this morning about 5%. Lastly let's talk about Red Hat up about three and a half percent today am assuming there's some good news behind them move. Yeah yeah I you know a big big software company really seeing Grosvenor cloud area as many companies are they just corporate profits to accomplish this quarter were 77 cents a share which beat estimates by ten cents they're revenue could be as well they raise their nuclear forecast. Really like I imagine citing that cloud product grows so they continue to see growth now at various stocks up about three and a half percent from the states. Very good thank you Mike Mike Armstrong with Wall Street watched New York Times is reporting that at least six White House advisors made use of private email accounts for government business. How is this different from what Hillary was doing when she was secretary of state depends on the scale that depends on whether or not any confidential or classified information was in there and depends if these accounts were also there were all fully disclosed and turned over so. It's not illegal and it's not illegal there it it really is. Something that does require a little bit of nuance in order to discuss it would be illegal if you didn't turn the deed over. It would also do it if you had classified information please you know so it it depends on exactly what was being sent. Clearly admitted it makes for good headlines but I'm not sure until we view gather what's underneath the hood what's going on at this. Had two calls and text message last night regarding Apple's stock. Apple Stock actually up today dollar 92. Concerns are shocked that the iPhone eat. Is it. Not that good and the iPhone act if and it's less than its iPod tan right Carlos Villa front and I called extra Oscars I don't like being told what to do as of the tent and start calling it the tent. The iPhone ten. The I'm the I'm hearing of people aren't bad enthused about though who would you like what I'm trying to do is interpret this from the stockholders perspective. If you're looking at apple. The big concern with them has always been that they're one triple two thirds of their business is the idols right it's the odd phone that that is their business. And so it might be simply that they've gotten to an inflection point on price where people say. You know what when you went people were paying 6070800. Dollars for phone they say yeah I've got to get the new one. All suddenly see that thousand dollar price tag and I wonder just makes people think. I don't know I need that for a thousand dollar and how long do those phones last. I liked and for normal person that turn a temporary how would you use in a Mazda six asks I didn't like two and a half years cash who may be close or two years and you know the batteries this it's worn out a little bit three or four original work and again. Yeah three or four years is is is pretty comfortable I think for most people. Mom and apple is always depended on these two year upgrade cycles. And I just I don't know if that's realistic when you're charging that much forward device I just don't know if people want to thank you think about that and that's adding it's. Fifty bucks a month that you're now having to pay. In order to buy this phone over two year period if you're buying and every one year it's you know it's almost a hundred dollars month how much do you see. We need eats out now how much you save if you buys seven. And he wanted to. Let let's say Tucker you wanted to get ready yours six got busy didn't wanna lately I've upgrade you can actually still by the sixth SI believe too you know how much of those let me take a looks of the six asks me year old vote has traded do you want the the regular success not applause. You're starting at about 450. Turner is in Europe half the cost rate that your old like has so what if you wanted to seven. If you want to settle me take a walk in and then you take your five with you and you trade it he wanted to seven they're starting at 550. You see that makes it that pixel sense is an empress my tip what. Are you coordinated out right now hates out photos of cuts the the other thing to keep in mind is those you still have the same operating system to the the sevens and sixes they're talking about there is a brand new you can get a refurbished one. That's a heck of a lot cheaper that really how much probably 250 somewhere in that are much danger yet maybe what's the big risk of buying a refer responded battery. Yeah I mean generally the replacing them anyway so they are now I mean it's that he did they're doing a good amount of work to get him you've got every back to new yes so let's that you bought a six plus which is a darn good well good screen large screen tickle them pulling up Apple's site on the refurbished on the Zia says the success they're doing for 350. And so easy laughs let me take a look you want to go to the success Austria. Six as plot class of the CIC for about 454. Finale when they're new battery you let me take a look here so we're doing is global law. Receive their doing new battery that's it that's the way to go Tucker. Right eve refurbished sure yes there's an eight to donate pluses gonna cost you nine under the refurbished phones what they do you get a new brand new one year warranty. Coca all the manuals and accessories and includes only power chords and all that. New battery new outer shell and it comes in a brand new box also that's that's I think Tucker that's the way to go out there might be my next phone when it when it's finally time is just go with a refurbished one honestly. Lake what what I need a brand new one forecasts a stupid question where do you buyer refurbished you can do it director apple Ari can't depth apple or for Bush's them and that's probably the way to go Tucker can you brought it it's a little more expensive to go through them but you get the full one year warranty will look nice in many to recycle your old Erin Brady guy getting traded like your phone might be worth 200 bucks right there so really. You get a nice upgrade with the new battery for what 2300 dollar yes a Tucker let's say that you wanted the exact same phone he said look I'm just gonna go six excess excess okay. These six as you're gonna get if it's in good condition for apple. You're going to get a hold on just pulling up all these new ones the success. 200 bucks. To get 200 bucks their policy pay 500 for new currency paint 300 bucks or phones and 800 to a thousand. Dexter entity its success says what happened to the nine. It's just a phony. No nine to request iPods and let us and is very confusing it's not the attendance to tenth anniversary of a sex act like the majority of people don't realize that today. Just call the acts. I called the acts just the currently getting your age and doing that to be dipped in knee you know that's how I do most is being out because I thought it really was acts and I've been saying in the accident people but doesn't here's the thing if enough people start doing it than I can say it started years of two years from now happens in the effort time comes out. I think skip a little listen talking you're asking questions that are way beyond our pay like you're you're getting into some stuff that's just a little out Apple's gone into it. Our core right now. Don't forget Cushing and Dolan is giving away September guide as they do every month it's called back to the basics a complete guide to the state. And asset protection planning you can get yours by calling them an 8668485699. Or go to the web site. Legal exchange show dot com. Major Ronnie and will company says the oil at sixty dollars a barrel could stabilize the energy market. Isn't that ironic you've got Iran. And Saudi Arabia. Singing from the same sheet of music. You do win in it like we were huge as shocked as I was when I saw this. Not really a wireless I with a home to the pace at least eighty to. They do but they both want higher oil prices they sure do you know they they both have so much of their revenue coming from oil. In Saudi Arabia obviously has the aramco IPO that's happening next year and one and talk about to break big producers if you combined there production where I think Iran is like. At 46 million barrels today. And it's. Saudi Arabia was 1012. Yes so was Saudi Arabia Iran is about four as you mentioned and Saudi Arabia somewhere depending on how much they want to produced anywhere in that ten to twelve range. In 2016 they average about ten point five million barrels that's 15% of the world's consumption gap between two countries big chunk. Those two countries like Saudi Arabia. Alone. Didn't seem to be willing to cut production enough imagine if you had Saudi Arabia Russia. And Iran has Russia and Iran circles right you get those three countries walking in lockstep together. Oil prices. Will keep in mind the other thing that you can watch you the US dollars weakened significantly this year's well and that's that's accounted for US dollars 10% weaker now than it was the beginning the cap so you sit there and he says okay that's pushed oil prices up by about four. Mean a four dollars and fifty cents just by that virtue. The dollar continues to weaken they might not even have to cut production much. But it sixty box what does that do to American production that we bring a lot of stuff on line made in US and Canada you you certainly could visit dollar stays weak prices are gonna move them Monterey. You know me it if you're looking at this from a from a long term perspective as a US you know consumer of oil and and and some large energy that we ultimately if it's great for you potentially. You know just as you can get so much from the you can really ramp up US production significant. He ramp up for US production. Well yeah I guess we get out of the groundless for less expensive than we have in the past. The big things are on this is also China China is trying to set a whole bunch of deals trying to get off the US dollar is that a one BS reliant on it. They're able to do that you can see the dollar weakened in another 10% her in all of a sudden you sit there's Angie oils 55 now nothing's changed for. From fundamental perspective the China could work got to deal with Saudi Arabia and Iran yeah. They canaries in minority do it with Russia the need to close relationship to all three of those countries Yemen arguably China might have better relationships. With Russia. Saudi Arabia in Iran and we'd it'll be interesting to watch what happens with the aramco IPO and how involved they get over on that remember I told it I wouldn't put anything by. Saudi Arabia in terms of trying to get oil to 6070 dollars a right. I just think they will do anything netbooks. Up next we will be joined by ten island from is accurate talk about two stocks that you might want to consider for your investment portfolio or not. That more from the financial exchange rated network. Trump's 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 -- 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 are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there 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. 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 alike you know like a bear 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 that commands 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 so if you just have a whale 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 suffice 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 and trusts or are people that have accents greatly real properties. Got money in brokerage account. Piece of rules that immediate two pieces. I think that's fair I think that the safe thing to do it if you if you want an ill will as a won't cousin won't avoid probate it will reduce the state is your right if you don't. Anything you know. The only need a million and asked to have an estate tax though we'll 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 that's legal exchange showed dot com to download the guide. For the month of September. It is back to the basics September time to get back to the basics legal exchange showed a. The financial exchanges live on FaceBook and YouTube watching Berrian chug discuss the issues of the day and see which one smiles the most. Is it financial exchange radio network. You might want to check out liter bag dot com right now or give them a call at 87769178900. And ask about their new CD which is for thirty months at one point 75%. Annual percentage yield. With no monthly charges a minimum balance of 1000 dollars is required to open an account. Joining us now for stock doctors Tim an island the Zacks we're going to be talking about couple big name stocks here and Tim thank you for coming on with us. Tim let's start with Starbucks this company to a nice little run until the end at 2015 but the last couple years little bit of a challenge for the my first question. How much does this have to do with they a change of leadership at the top. You know I'm not sure if it really. I think that you know they're still obviously a lot of influence there from. In the previous C you know he's obviously still engaged in the data data operations of the business. I think that as of lately. You know Starbucks has been really a victim of their own success with alt border hey. They're working through this and the guidance perspective I think short terms Starbucks is being dragged down by. Soft retail and consumer spending in Miami here in the US but I think longer term the prospects for Starbucks and grossed out it's still really you know remain intact. Is this warned that you are still bullish on for the long run I know it begins when a tough couple years for shareholders what kinds of things deal like about the company's yet. You know I am very bullish on this in the long run it is a very large holdings of mine personally. Starbucks has just phenomenal margins and our management team has really really you know that is. Even that's not revenue growth as of late and the operating in net margins are still improving. And I expect this to continue to do so they're you know closing the keep on any commerce operations this year. And they are doing a really really good job at it converting a lot of the strip mall type stores into use the you know tried through. Type location and just opening up that area stores and letters you know. Just a lot of great things that thing going on that the flip side to the sideways price action that you mentioned over the past several years that the about the valuation multiple. In terms of the key is actually been compressing over that time program. As earnings have literally. Grown with no offset in terms of price appreciation so you can imagine you know that denominator that ratio just keeps coming up towards price. Historically speaking start let's try it PE multiple range of 22 times to 32 times polar earnings. And right now we're looking at. At the low end of that range at 23 times so take advantage of this soft spot in Starbucks to take a position and you know well in the long run. Start a little bit about FaceBook this is a company that seems to have done everything right over the last four years no starting about 69 months ago they did start to guide they are reaching a saturation point with the traditional advertising inventory. You bulls or bears on them right now. Actually very very bullish. In extremely. Inexpensive stock valuation perspective. Go to valuation model here at tax. According to mine model it's currently trading at about 13% market like growth rate that's the current bit about you. Orchestral went EPS and revenue growth in excess of 30%. Year over year. And the long term drivers are really critical year for bass boat so that monetization of the streaming live video in to grant messenger what populist. China and emerging market nations in the southeast Asian. Africa are also enormous opportunities for growth that I don't think we're currently being factored in here. The stock was down almost 5% yesterday which is really really good timing for our discussion this as a great entry point for anyone who's waiting for pull back in this game. Even though this stock has gone up 450%. Since going public black and Tony twelve. It really is inexpensive relative to those illegally high forecast growth rate goes on as we can sustain that. We're going to be in good shape again another long term position I'd do on this in my portfolio. That's why when he PS estimates have been revised at 26%. Since September 20 sixteenths this is a name that just continues to. Form and it still has a long run. Very good Tim thank you very much for the time. To an island from Zacks talking about Starbucks with the ticker SB UX and FaceBook with the ticker FB you know where FaceBook really stood out was during the hurricanes. The rumor yeah used as a communication platform. By a Houston Florida Georgia. Saint Thomas Saint John Puerto Rico that was the make people were communicating. Through them. When they couldn't get self service. In they would get spotty cell service they would use that is used to do you tell me. That G a more Camelot that through the hurricane yen and in here's a thing for all the crap that you have to wait their on FaceBook you know the means in this and that of people complaining about how hard the day wasn't oh here's another picture of mark to Picchu. There's actually some very good you know that it really good things that can happen as a result we don't date communities did was they set up an emergency page says it's a you know Houston on recovery and everybody could go to that paid to write and say. Okay this is how we got hit I lost my car I lost all my furniture. This is where I live and and it was meant and and it really did I think a remarkable job miscommunication because. The news outlets were were just giving you general information like CNN would say well you know. They look at how fast the wind is bull but he didn't tell you you know what was happening in certain communities in Houston via FaceBook did. They do and and and they really do shine in some of those emergency situations I remember after the marathon bombing in Boston they'd set similar things up as well and I'll be able to find loved ones and things like actors all the cell sites were jammed. The market is rallying the Dow Jones industrial averages up 35 points at 22332. Crude oil is trading at 5169. That's actually down 53 cents today. And golds thirteen old war and now all of that from the funny to exchange radio network. This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are required to start taking withdrawals from your -- air raid the problem is that many retirees don't know how much to take out of their wry irony 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% 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. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and ML customer 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing -- stimulus number 449250. Subject to credit approval -- -- a step ahead hi this is -- strong -- -- an important message for you and your family if you had a successful career and haven't yet taken the time -- plan for your future now's the time to make that call -- and -- and senior partner Todd -- -- have been helping families like -- with their state plans for more than thirty years and he's got a brand new -- out this month called back to the basics it will help you learn about the bare necessities needed to create -- -- plan but will also educate -- on important items like how to avoid probate and passing your assets along to your family -- 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 online -- legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't -- get this free -- today protect your assets and enjoy your -- years 86684856. About higher -- And more specifically we're talking about required. Minimum distributions. Chuck when you hear that frees. Invariably. Somebody you'll kind of have this blank stare in their face because they don't know it very hard to calculate how much each year you are required by law to take out of your individual retirement. Yet the way it works is remember that you get a tax deduction every year when you put that money into the IRA. But eventually the government wants to get that tax revenue and so what they do is starting at age 79 or seven and a half. They require you to start taking money out of you or IRA and it starts off is a relatively small now but the problem. If you don't take that amount out when you're supposed to. There are some very significant penalties that you can end up paying and by the time your eighty. The money that you have to take out of the percentage that you have to take out of your individual retirement account is a lot more than it was at seven. It grows every year so it starts off at about three point 7% that first year and it grows and when he get into your mid eighties starts to get to the forwards seven or 8% so it does grow significantly in you have to be aware that that number changes each year. Just a suggestion here but folks you might want to call Armstrong advisory group and receive their 2017. Retirement plan distribution guide the phone numbers to all free 800. 3934. Zeros or one that's 803934. Zeros or one. For those of you who want it right now. We conduct download the guide by going to our web site financial exchange showed dot com that's financial exchange showed dot com for the 2017. Retirement plan distribution guy. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seventy and a half you are record. Required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their hiring a poor they get confused as to where to take it fraud if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&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 printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting and processing teams traditional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and -- number 44950. Subject current approval leader bank. A step ahead hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage 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. And. This is the financial exchange with Barry Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day. You simply your world and stay informed and up today to promote economic and market trends plus get breaking business news and every day. And now the financial exchange with the very Armstrong and chuck Exxon. We only have forty working days left to get tax reform accomplished that's a tall task for a forty DS. Berrian truck with you here. It's a Tuesday and I hope congress isn't wasting anymore time on health care because they're not gonna get a bill through. And some of again to forty days to get this done and it's a big. Bill that they're trying to push her I'm not sure they're gonna get this done we're supposed to get details on tomorrow right now that's who we've been hearing now I'd I'd like to see more details in just one page of okay here's what we're gonna do and I'd like to see the nitty gritty because eventually have to deal with that well we're gonna get this week I don't know week we heard yesterday from Blake Burman fox. Then it's tomorrow as we're gonna get the deets tomorrow. Yep supposed to be tomorrow and the the chatter that we're hearing okay. Is that on the corporate tax side let's start there again. Corporate tax is going to be taken somewhere down into the low twenties we don't know exactly where whether it's 20/20 223 but somewhere in the low twenties from the 35 that's currently out today and also hearing chatter that four pass through and these LL season things like that. The NC reduction to rates there but we don't have a whole lot of clarity on what that that's gonna do well yet and it's not gonna apply to law firms. It's not going to apply to accounting firms it's not going to apply to doctors. So who actually get it like. They're they're saying well my applied to manufacturers and might apply aggregate if it doesn't seem like micro managing the economy like is that the exact same thing that he would get upset if you know someone on the other side and tried to pass that you know I I think it is I I I what if it's going to be. Pass through then if your sub best and everything you know eat at that rate but that's that's how you do otherwise all you're doing is saying like. How do you set this up in such a way says that people can't abuse and how do you say. Obama really manufacturer they'll do an accounting like what it was there's their sir there's ways that you can structure company like accounts are pretty Smart those kinds of things one thing that will be very good for low income workers and people who do not own homes. Is doubling the standard deduction so let's say you're household income you in the life. You know your make and I don't know 8090000. Bucks a year of him and you're renting an apartment they doubled the standard deduction. You just gotta be tax ya so that to potentially be a boon to people in the lower middle income thresholds. But however. If you're a homeowner. Could you want you hook and get killed on this did you you don't lose the ability. To deduct your property taxes the other thing is if you are living in a state that has high. State income taxes to lose the ability to deduct though. I just think about all the New England states Connecticut has bolstering connect. Connecticut Rhode Island Massachusetts has high income taxes high product price mean. Maine has darn high income taxes means income tax 8% Vermont as I income tax. And new look at some of the states. Particularly. In the southern New England at Maine and Vermont you can look at and say OK the property taxes are too bad. But you look at Rhode Island Connecticut and Massachusetts. The. You are going to get slaughtered I don't care what they've lowered the rate. On in here's a question let's take a state like Maine just as an example a state like Maine we know they have relatively high. You know taxes okay. Well the second district in Maine is represented by Republican per Bruce up pol when they're okay. How is he going to be able to vote for this bill if it's gonna be raising taxes on his own constituents of the question that you you get to then is. I don't know if you can necessarily getting easy majority because of things like that. The thing about lake California while public insulate our agreed to coasts are not gonna this is a like you're gonna have some real problems I think getting. Some of these people on board who are you know blue state Republicans. I think you're gonna have some real challenges there. What they're looking to across the aisle they think. He would be one of the things that the Republicans would like to do is repeal the estate tax I think the president's willing to give that up. I think the president say look I'll get some Democrat votes. If we don't repealed the estate Texas leads the estate tax let's repeal the AMT I'm hearing that the empties into alternative would be nice. The NT one away but I look at California got 53 districts in California. Fourteen of them Republican districts they're not gonna vote Howard big and devote it to effectively raise taxes on their own constituents because you're getting rid of some of these deductions like it's. It is a real challenge I think to find something that works for a while in this is a work in progress I would remind everybody before you panic it's a work in progress right now. They're talking about tax cuts that are equal to five trillion dollars. And they've only got a 1000000005. That they can actually hopes they'd at all to isolate miscalculations so you know they can we we can talk about this till the cows come home. But the fact of the matter is. We we're not gonna get a really good look at this for. An. Well yeah. What do you think beauty gets through forty days now I'm not sure does now so this is Q1 I've I've always said its Q1 of the team I've always said February march 18 that's plenty of time they they don't have to do it. In Q4 I know the president would like to and I think the dilution would like to but it's just that to be cute or does it. Anyway with the urgency they're not gonna make it retroactive all of it to do was get this done. So that people's paychecks are little healthier by next summer. Right here if my taxes go down by next summer will be happy. It's pretty much what you're looking that I think again from you know from my perspective I've always said the Q1 of eighteen is when it likely gets done. I still don't think it's gonna be as robust as people were hoping. I think I think it's gonna be smaller to some of these things again like some of these sacred cows like the the mortgage deduction. You can talk about it it's illegal blue in the face I don't it think it's actually an end up happening or at least not instantly might be something work visas out over ten years. If you've ever been to Puerto Rico you know that San Juan is the big airport. And they lost their radar. Due to the storm when the hurricane hit the there'd radar knocked out. So they're trying to get people off the island and obviously they're trying to get the confirmed in the sick people off the island as the year's no the no electricity. They normally an average 151000. Passengers per day. Getting off the out. Deep down to 2000. Yet the relying on 21 generators to power the control tower radar and some terminal waiting right now. On days they still have difficulties just even you know trying to identify where problems are on the island at the moment. It is all three all those islands and I'll lump them together. Puerto Rico. Saint Thomas Saint John in saint Corey if he'd gone on Caribbean vacations chances are you've been one of those three islands. All of them are broke because they can't borrow money but if you look the president last night said he had Puerto Rico is in deep trouble he's acted. The date and not they have no. Ability to borrow money. And they are reliant on hand out from congress which isn't gonna happen until what next month it they're saying it might not happen until the first or second week of October and I think we gets to that point. Yeah you're looking at a steady. Really just massive humanitarian crisis there I mean it is yet thousands of people on the scale that you're talking about you have 3.5 million people on now the other three islands between saint Thomas increasing John that's. Couple 100000 no not even though it may be 1101000. Though that it. And people are Ian they're gonna evacuate that a lot of people who evacuated before the Turkey because they knew it was going to be bad yup and there's 2000 leaving. The islands on Friday. Some people again office quickly is it can't but the airport's closed the east to whatever functioning airports those islands yet and is and I think that. If you're talking about going into the second week of October before you you know specifically allocate funds towards Puerto Rico. Yeah you're you're gonna have all kinds of problems and that Iran has weeks is a problem is these territories are not capable of governing themselves. The that would happen struck in what's happened for the last fifty years. Is the political leaders on all those islands have stolen until for all of them no doubt about it and so now you're in a situation where there's and we were broken we need long to rebuild our power system to educate. Try to match try to live without electricity. They just to imagine and you can't blink is most most people today can't is it read it and that's what they're trying to dude yeah. Vast majority of the population I think it's like 80% of Puerto Rico does not have electricity. In same thing goes for the other ones they they just don't have on its it infrastructure but then that if you're the federal government if you're congressman from Indiana. In your being Astor Randi check. You're saying you I I know how I would feel I'd say why am I gonna give Puerto Rico. A billion dollars or two billion dollars when they've stolen all the money I meet you wouldn't believe it's a banana republic. I don't know what it in I think it when you're talking about some of those longer term projects and so forth. Completely agree but I think just in terms of allocating resources. You know be very eases to simply say now look you know we are going to pretty much throw everything that we can. Perspective about the you know they what did you literally just yet take you know navy ships allocate and just to getting people off the island you need to get off right now I mean. And there are some things that you can do with outgoing and saying you're gonna give you ten billion dollars is. You and I both know Puerto Rico can't manage that money will they never happen. He'd never done it in the days and you know reasonably do going forward a next will be joined by Melanie Evans from the Wall Street Journal going to be talking to Melanie. About the train and towards hospital investing in outpatient clinics Saturday makes all the sudden surgeries are all done. An outpatient clinics will talk about why that's the case. When we return to the financial exchange radio network. Markets continue to fluctuate but we've John you covered get your daily update on what time and what's not a pro Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. If you worked hard and had success in your professional like protecting your wealth and your assets is essential to your ability to enjoy your -- 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 -- 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 -- Dolan at 8668485699. And -- 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 86684856990. -- free guide today the law firm of -- and -- has been helping families protect their assets for more than thirty years let -- 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 rate is locked for 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 annual percentage rate with no closing costs on loans of up to 150000. Dollars and you'll hear from them within ten days of receiving your application 8776917900. Call right now 8776917900. Member FDIC. This is very Armstrong from the financial exchange did you know that once you turn seventy in half you are required to start taking withdrawals from your diary 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 wrong if you don't take you were required minimum distribution you're subject to 50% -- 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 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 -- 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 east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now 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. The country is getting older yet demand for hospitals. Is on the decline has been for about eight or nine years we're joined now by Melanie Evans from the Wall Street Journal to talk about that topic. Melanie why is hospital demands while he doesn't make sense to me. Good morning I'm so. What are the drivers of the trend is certainly technology. That and it's easier and to do more outside of the hospital settings thanks to changes in. And surgical procedures. And and it's expensive to do it outside of the hospital and so technology has been shifting. Medical care. Out of hospitals for numbered years. And there was. An effect on use of healthcare services associated with if the last recession and and some of that has. But. Some of that has to patent. We're. Sort of recovered. Went and Affordable Care Act which increased. Insurance coverage under an alternative with an increased ten utilization. I guess with help me understand only because I read the annual reports and hospital operators they knew identified a couple of them healthcare corporation each seat. Dignity hell than HCA healthcare. They're saying it cost less to conduct. Various surgeries. From an outpatient clinic and it would in the hospital the hospital for doctors and full of nurses and full all the equipment I don't understand. Why it's cheaper to have it done in the server suburbs if you will. Then it is to have it done in this hospital where it it would seem they had all the resources. And you make a good point hospitals. Have all the technology Havel that aspect operate 24 hours a day and that overhead. And so what hospitals have been sort of focusing on is trying to. Put the most complex. And sickest patient inside the hospital. I'm aware you know where are those of where those resources are needed and to move some of they'll let complex. And more routine surgeries outside of the hospital. Because into the tree surgery tenors. Freestanding you know freestanding facilities. Don't have all of the associated overhead that you have a hospital that they are less expensive. They don't have the same 20% and they don't always have the same 24 sevenths schedule that you don't have to stack them around the clock still operating outside of the hospital. I can be can be it lasts less and costly. Is it too early to tell if this is having a positive impact on their earnings so feisty about buying stock in dignity or in HCA. He is is this gonna make these companies were profitable. So yeah it's unclear. How that will affect long term earnings and the the not hospital operations and typically in debate. They are lower revenue service's. But can be sort of higher profit. And I am and are less capital intensive for the reasons we just talked about it which is that hospitals innovate because they take care of most acutely ill patients. State requires a pretty significant capital investment in technology. Well and I was re in reading your article I mean some of these procedures they're saving 2502. 5000 dollars off of individual procedures. Yes they do that and there's some researchers looked at. At prices. For and as certain services that can be done any outside of hospitals. Comment they the third of employees and retirees than the in Napa California public employees retirement system. And so. And that that is exactly what they found that they found app practiced at ambulatory surgery center were. Lower than they were inside of hospitals and and helpers as it's known often retiree system. How it actually changed the ways that they had structured there. Benefits that are you know but you do if you were employed and you get insurance to mentally to get these. Is that a benefit and they'd done it so that they are trying to nudge people. Toward those lower cost options numb when it's when it's available. I'm been our leader so this is the way of the future that. It sounds like. Well some of the things and I mean I it's been very interesting to powerful deterrent you haven't. And and keep asking people is that where it added next. One of them when those things that I felt with. Perhaps most interesting with the hospital took that I talked to. We're trying to figure out then you know that's technology continue to change what what will stay in the hospital you know what what more will move outside. So I am a little heat keep asking that question. And I'll I'll keep reading your follow up particles. That takes. I think at the time that's Melanie Evans from the Wall Street Journal let's the future of medicine and a beer in your backyard chat you won't have to go. You know into the city to into the hospital right when you need to get your knee scope even of the goat you know an Iranian year hometown. The one of the biggest things that you see also is that a lot of insurance companies continue to push for these services well does is it's a lot cheaper for her then make sense. Brown University has initiated a 120. Million dollar campaign. To drop all loans from financial aid packages awarded to their undergraduate while yet to big move for them and what they're gonna be doing is getting rid of loans to was students and instead make an adult grant money. Just trying to make things easier for their graduates once they finally around school that you guys did this at Dartmouth. We have not elect you guys were on the list as having all excluding Cornell and we we have not Dartmouth is not yet on this. Went around I would imagine they will the next year to I can't imagine that they're gonna be far behind most I was the oldest gives brown a leg up in terms of recruiting. Right it does it let's leader recruiting gifted student which a lot of kids that go to brown are. You know not a lot all the more they're. Their team in Baltimore they're really it really start to go to one of these schools you are the smartest of the Smart they know not just saying so you're going to brown. And Europe actually east because the average brown grabbed his graduating with 34000 dollars in debt so you're an inner city kid. In you've got to scholar you can go to Dartmouth we go to brown. Browns can get the better kids at they will browns a little bit weird you gotta remember well grounds look this coming from the Dartmouth. No workers frat was thrown out round is never raised that you know Tucker was thrown out of that and out weird that should happen now. Brothers have greats like if they're a little who did you know that Ed down this. Program for free. It's basically free tuition if you if is it. What is know this this is not saying that everyone has free tuition nobody he need it that if your parents are broke you go forward this is saying that they are Smart. So that you're still going to end up seeing. Students taking out loans in order to go to brown why. Me here if fear really Smart so that again this is you're talking about need based financial aid or it might not cover everything they might have to go it didn't Brown's not gonna say hey we're gonna cover everything. They may say look we're gonna cover up to this amount we're not gonna put any wounds on that but if you need additional money nordic come here you're still gonna have to go find third party won't weathered Stafford loans private loans things like that. Princeton is gone to this back in 2001. The average Princeton grad still has 8900 dollars in debt when they graduate. Not from Princeton saying hey we're and they don't like out loan is likely get it at Princeton degree with the united hundred dollars in debt that the deal. To deal. Apparently act it's. I think he gives the schools. A real leg up in terms of recruit a I don't think they need one to begin with. It when we come back rated talk about Netflix for you to be able to watch Netflix on the airplane. That's next from the financial exchange radian. 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 in 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 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 wry irony 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% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our web site financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated hi this is Derek strong with -- an important message for you and your family if you had a successful career and haven't yet taken the time to plan for your future now's the time to make that call Cushing and Dolan and senior partner Todd let's keep have been helping families like -- with their state plans for more than thirty years and he's got a brand new guide out this month called back to the basics it'll help you learn about the bare necessities needed to created a state plan but will also educate you on important items like how to avoid probate and passing your assets along to your family called Cushing handle right now what 8668485699. And ask for your free guide today that's 8668485699. You can also download the guide right now by visiting them on line at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent today we're -- leader 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 dot meant to learn more or call 7816 or 18691. Very our churn here and I'm joined by vice president GA tool from leader bank. We're talking about Z rent this is exciting because zero rent isn't method for landlords to collect their rent electronically. But there's now find refining Jane that it's being widely adopted by Condo associations tell everybody was he rented. All right so easy rent is a product we innovated leader being. Comedy can be found it WWW duds you rent dot net and it's essentially. And online payment technology that allows landlords to collect the rent electronic. Tenet's so there's several advantages first in saying goodbye to being reliant on the use Postal Service. Goodbye to delays in the mail and no more need for paper check right where Israel and a lot of millennial Estonian and have a checkbook. We're getting that all the time Elaine horrible call in and sign up because his tendon saying you didn't checks the where this really starts to get funnies when you your landlord and you have. Multiple tenants living in units this grad students near university. Well right now they're all writing multiple checks and sending them in and for a lame -- that's -- 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 reports in notification that electric stuff but going back to your question a Condo association's a lot of Condo associations have been using you aren't 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 it with the modern age go to easy rent dot net or call them toll free 8776. I'm 17900. They say video has ten pounds. But don't tell Berrian jogging the financial exchanges alive every day on FaceBook and YouTube there's there's the financial exchange radio network. How would you like to be able to watch Netflix the next time your client on a plane sounds like they wanna make that a possibility. Yeah Netflix is trying to well I get people are watching on planes a little bit more and so what they're doing. Is they are going to be allowing what they call their low broadband mobile technology. To be sold airline carriers starting it early 2018 so about six months from now. And so this would be a way to get airlines to offer new chief free Wi-Fi to while passengers. In order to stream Netflix and so it's something they've previously been using largely in developing countries to try to build out their broadband infrastructure. But this is way the net which is just trying to get in front of people from where their day. When is they say low broadband does that mean the picture's going to be lousy that it be lousy is just not gonna be it's gonna be Qaeda high snow notably high death row like 71 NHL Arenas is like like the highest quality but you don't need an on screen of that size anyway. So Hillary can already watch Netflix on an airplane interest in it you only added to his downloaded before you know on the airplane. How many shows are available to design and I think both known and not all of them but it's more than you think early how do you do it. So you just make sure your lifetime like into the semi home before I went on the airplane I just downloaded all the episodes I want to watch my iPad via. And then you can throw in an airplane mode on your iPad and then just Washington on the plane while it is easy you use your phone use your right that's the Abra mine that listening. And that's actually I use Amazon because Amazon had that got four from Netflix to weaken down deficits and a episodes and watch it. You know we've talked about the NFL. And will we haven't talked about are the sponsors. And you know the sponsors are walking a tightrope as a relief if they lose it where their bread is buttered. Well there. Managing your Anheuser-Busch right you don't want to alienate the players because they'll sail sudden your your socks right. And then you also don't want it leave me your consumers. Yes that is good but all in one of the major companies been putting out statements saying. You know hey we were OK with you choosing to do this but we also want to make sure that we have new respect for America and its institutions. Pretty much a whole bunch of crap like it's it's a nice way to say like nothing wall sounding like you're saying something meaningful learning. Now hey you know leader bank is a bank I've been working with for years because they always offer incredible deals in this week is no different. Check out leader bank dot com right now or call them an 8776917900. And ask about their new CD it's an FDIC and insured CD which is for thirty months at one point 75%. Annual percentage yield would build monthly charges. A minimum balance of thousand dollars is required to open that account. Call your bank for more information at 8776917900. It's again. A thirty month CD at one point 75% no fees associated of this. Take advantage of this great offer from leader bank your bank a step ahead minimum deposit to open and current annual percentage yield is thousand dollars. Massachusetts. Residents only for some reason. Penalty for early withdrawal including IRS penalty which may reduce earnings re subject to change without notice. Member FDIC and the rates are effective August 15 of 2017. Copies sold in California. Could carry cancer warning labels though some of a gun. I just Tucker didn't report like three weeks ago the copy I I actually increased my copy intake Daoud remember this now because coffee's good for me. Now it's cause of cancer. Which is chuck. I don't know you know Cary number I don't drink coffee assembly present a population drinks. This this gets back to what I've often said when it comes to any of these food studies is that we really don't know anything okay. And that anytime we try to micromanage nutrition we generally and making things worse OK we'll get the food pyramid is example you know people were supposed deal these cards for all this time and then all of a sudden people relate no cards are evil lake which is what is it with milk is milk. Good force or bad force depends on the day of the week if you drink milk on weekdays it's good weekends it's bad. My granddaughters drink at home. Well I don't know if you want to do that on I don't know if you wanted hey I just do with their mother says when is their second head start growing. I just think it's they were nutritional it doesn't change decades it's like boy I ever win local east. You do and for travelers expect the same time that cigarettes were good for you do you listen actress. In any case the reason why California is talking about doing this. Is because there is a carcinogen called a crumble on a accrual mind. Second time. That is found in roasted coffees well as cooked foods such as French Fries that is a byproduct of the coffee roasting process so how totally know if there's a crew of mine in my coffee tree pretty much anything that's traditionally roasted it's in 01 of the put it and that's what they'll put it in it's a byproduct of the road policy it's kind of like when you like. Put meat on a grill and it gets that black stuff on the analyze that the black stuff isn't good for rape in that was kind of the the whole. Genesis behind barbecue every used to use the Burkett said. That that's not that we re supposed to do that puts even if you just on the gas grow and you get the black stuff that chart is generally not good for polish your taste -- it takes a but I Tara had a chicken and this are why I say you don't always have to live with what's best for you say hey I understand it's something you're gonna kill me but I'd rather have a little bit of bond in die. Then have a boring life where I live for Africa. They die a couple years early what's the big deal a good as the last couple years going to be any Marca. It probably not good night good doctor said that to me as your little fat but you know what's so what if you locked. If he said unity could lose twenty pounds and you might live to be 93 instead and 92. Debbie in the meantime he ebony and get food NASA then on the other problems you near and ideally different dirty job Noah what's the point I'm not too worried about it nine increase. Get eighty four's target health care 84 not a year before or after Graham Cassidy health care. Need to know win that's going to pass or not I'm hearing yes speaking of dying is bill's dead. It is dead it's official of the they're saying name usually gets what hold on he said this last week I do wasn't going anywhere. You. You know you never know it's cooked it's this this is this is called the final nail in the profited beyond just turn me like I've heard multiple people say they only because again go vote now poll. That would be in Paris. It sounds like it's not leaving him again this is what people are gonna be upset about. Is the unity wasted how it would two weeks on this stupid health care bill is never gonna pass. Well they have been working on a tax reform Susan Collins made a great point in her in your statement that she wrote. Pretty much saying look it's this easy for you to give my state additional funds just by changing the formula how Weasley could they be taken away. Tomorrow after you sign this. If you it's a run for governor she is gonna be right for governor next year so. She's had enough of spending time in Washington I don't blame. I'd much rather it is jobs bill I'd much rather be. Governor of mean. As opposed to the senator from me I'd be a terrible public servant. We we all know that's on I'm not leaving a put myself in the running irony that's actually we appreciate that approach. Target the retailer is going to boost their minimum wage in a battle for store workers well I'll take away. You walk into retail store to that was in the Dick's Sporting Goods. I mean there's nobody. Working if you need help in a retail store today good especially on a weekday you can have gone into I've got into addicts you kind of similar to that. And you walk in there's one maybe two people at the cashier and desks actually if I should to and then maybe two or three other people in the entire store I take that back because if you go into Home Depot there's a lot of people work there's help available. Yup whom people. You and your local hardware story you know be as have local partnerships Newton there's usually help available there as those stores are pretty does. It is always activity yeah BU hockey in too. Target Dicks and JC Penney. You know you wonder what people shopping online and he's no help even with the help took the news target if you're buying like teachers one needle. I eat. Tucker are the tape and finally got a mission it is currently 114226. Ares I mean hell I. I mean he guides. The been waiting for eight years for this my wife did that Jeremy disabled several years I think I just I'll. I you know. If she either set of faking hitter it's true but either way I need. I mean whenever I go to the stores though like sometimes I need to find help Michael lows of something I want a final putt. Then I'd get angry for as a resident but come up to me in electing you help that they acknowledged browsing they don't blow it. It's it's a lose lose it via a story about that addicts you can lock into addicts doubt he'd be here for days a you can be yell and Mickey could actually take one of the tents camp out in the store I don't know that like 3 PM on Wednesday as it collect left for dead as long as you don't move people just think you're part of the display. Music and escalate. How much were the insured losses as a result of hurricane Maria well we'll let you know when we return to the financial exchange radio network. The financial exchange with Berrian chuck is alive on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 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. Member FDIC a minimum balance fees may reduce earnings raids subject to change without notice and may change after an account is opened. Security suffered through securities America ain't 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 as financial extreme show dot com while your their fire of the media player and watch the show while you work. This is the financial exchange radio network. We'll start to get a tally as to how bad the losses were in Puerto Rico. Turns out that Puerto Rico and the Virgin Islands. Suffered more damage being Houston in Florida. You'd use you compare because all the turkeys of victory has three big hurricanes this year. Yet the be insured losses in Puerto Rico could be as much as 85 billion dollars and right now they're saying somewhere between. Forty and 85 but either way the mid point there's still about sixty billion dollars there and that's the insured losses job. You have to remember that a lot of people if you live in a Condo you have insurance because that Condo association's required to put up. If you have a hotel its record but if you're a homeowner that you just don't house you have insurance is too expensive. Yes and and I think what's what's interesting here is overall I mean you talk but the total damage that can be caused. If you're potentially into the you know below 400 billion dollar range you know 10020 billion dollars at a bad you know we're talking about how bad things are Puerto Rico. But if you are skilled trades the plumber electrician carpenter you'd be busy for years. Pray because all be all these people have insurance money so it is let's say your Condo blue down right it's got to be rebuilt. You you're in your an architect it'll trashing your going to be worked and I would think it's people with skills especially blue collar workers. They are going to be making a lot of money in Puerto Rico and the virgin in in theory they should I think the big question that for me comes out of this is a how many people just say. I'm not head back to Puerto Rico half a million mocha and I'll predict right now population of Puerto Rico declines to less than three million dollars per on the border. Probably a thorough report that the at the other question is you know. What kind of disruption do you have in the long term as far as services and quality of life there because USA look like I could make a ton of money there. But it's not worth me living there because the power keeps going out nothing nothing to do you also schools are good so you might succeed people they go down for six months or a year to rebuild but say. Hey this is where I wanna be for the long talk to a young family yesterday in the lead in the island. From Puerto Rico Singh Corey. The he just. You know he just the BP the kids kick outta school there's no electricity. It's just too disruptive to their family life so here they leave and and there are probably not going back up you know. The if it's a shame. 82700. Dollar donation by black rock my black rock executive is gonna cost black rock Arab. Big firm black rocked one of the top investment companies in in the world could cost of 37 million bucks. Yeah this is a company that is worse seventy billion dollars who as you said the one of the titans in the Al wealth management industry. But pretty much what happened here is that mark we men. Who is a job managing director at black rock donated 2700 dollars the presidential campaign not a lot of Ohio governor John Casey quell what happens there. Is there's a prohibition. In executive officers making donations. To government officials who could influence the hiring of a fund manager or something like that from financial. Firms were recruited for him again if not that I -- want to vote if I wanna make a donation. To Charlie Baker. I have to first of all contact my firm's compliance department request permission. And then it's capped at 250 dollars. And in what happens here is that black rock as a result would be unable to oops to obtain fees from the state of Ohio so what they've done is they've acts ask the exe SEC for permission to accept these fees from Ohio saying that exceptions have been made previously. But the SEC has not yet responded to this request amid the act. They get they get some big if mr. proprietary and ever. They beat the more we learn about the SEC. I mean you think the Equifax Haq was bad. The the SEC pac. Traders are using that information. To steal money from. Bury it in people don't really assess how insider trading works but let's say you get insider news and I G right and they're gonna do something he trade on that operation. That hurts everybody else who owns the stock. Well it depends if you're trading against them if you're just holding the position doesn't change where the stock goes to eventually well but it think about this way it would if you. He's sold the stock and it went down with a guy that's done saying if if you're trading the stock. Yes if you're just kind of holding on to leave if you've held GE for ten years you can hold for ten more mean it's not affecting you. Get ready to read a lot of stories about how we're gonna have an off. Over crack for what we might call an October surprise. October admittedly is a pretty volatile month. For stocks. Yes statistically what you see. Is that the the standard deviation of the Dow's performance in October about one point 44%. Compared to one point oh wait in other months it's so it's on average talked about 25% more volatility in so it's a significant amount you guys remember October of 2000 and eat. I try not to that was that. Knows try not to goes a long time those nine years ago now with Susan just yesterday and you remember 87. I do remember 8787. Believe it or not was worse than two dozen deaths most people don't remember that but it was worse you know YE 87 didn't feel so bad though. 87. Came back an hour. You went down to the and we lost tons of money lost like a third of our money in the sixties. Just point 5% one day in the ban by Christmas is back. Yeah 08. You lost all that money you lost 50% in the three years for to come back if it you've lost 50%. Gain in 08. And and then it starts to come back a little bit towards the end of the late in the and guess smack -- down that Mark Warner 09 now and and it didn't 23 years and it yes of the the peak previously was in September of 07 now the trough was in march of 09 and you finally got back Ian. May of two point thirteen is it was three and a half years and been seen actually no force our four it was four years actually to get back to even but boy did you forget back. Oh you do just hung in there he didn't sell during that period timing just kept Bryant's EC at 41 K plan if you're lucky enough that the job. And you just get buying into the market you've made fortunes sell us ten years I would always tends to work. And it's tough to stay in. You know I remember I I know it's I know it's tough but that it's the if you look at it historically it's the right move you when we get a crash ratings go. To their own Alia crashes are good for the longer ones. I'd rather have I'd rather have bad ratings and in a good portfolio than yeah I think it works out better for everyone and Tesla. It making headway in terms of getting into China right now David Dickens of the time selling cars of America's huge tax would 25% tax big tax on it also there is a requirement that all foreign auto makers have a local partner in China. Which is. Kind of this intellectual property concerned because every company goes over the says will we don't want stealing our technology don't trust China and a vinyl and in so there's some talk that China made. Loosen that requirement and not require companies auto companies to partner with a local companies what they want Tesla or it's actually sold 111000 Carson which is impressive. They want. Hundreds of thousands what they want their whole fleet you know lecture you and that's the China pushing towards elector is gonna make electric cars cheaper in the United States. It will continue to drive the cost down you know you'll see improvements in technology and things like that this is better batteries batteries is still this it's it's what you need need need better batter so holy Grail that that is it right there. Dow is only up four points as we speak nasdaq's up a fraction crude oil trading at 5169. In gold is at thirteen 04 and out. It's very sharp and talker from the financial exchange radian.