Sep 29, 2017|
Full Show 9-29-17 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Everybody loves free stuff and I'm no different than I guess everybody else I love free stuff. Especially free copy hi everybody its various truck with you here. On a Friday national copied I didn't know it was such a thing as national coffee at a news. Exciting news exciting news for guys like talker very exciting you know fortunately I'm thrilled. Cups deedrick. Eight allied I don't know. 33 yen and a ballpark. Well I you know I went through this lifts the nose tightly deep we have us a list of places where you get free coffee. My dog you know rules Dunkin' Donuts let's let's start there the biggest coffee purveyor in doing that yet. You buy a medium or larger cup of hot copy yet a medium hot coffee at a participating locations nationwide. See I heard. I heard that deal and somebody tried to take advantage of that and they weren't all there or off that deals I don't know what that participating locations thing actually means like co worker got a really of front which spilled the older car. All the men she's evidence that OK I would argue when spilled over your car McDonald's for a limited time he can get a specialty coffee for two bucks better Crawford. Better than good result but all my dog euphoria not in close I'm close up. And then they have coupons Tucker for free media Mick cafe with any purchase in the McDonald's Smart phone app I guess they're trying to push people over the app. It it will. A lot of these companies are Starbucks is on not doing a national coffee day deal but instead. An and this is I think it's kind of goofy. The Seattle based company is quote taking over their stores so for three days they'll get rid of their menu boards and instead the companies sharing information from customers about how other coffee purchases made a difference in the company's commitment to ethical wants is that we sourced coffee you. Easily or he's here every golf exactly see all these deals across the board and minute at the lengthy email about how great coffee is from they are accurate to say we were a deal we saved to go to Peru and this and I found the best deal in doing. Auto orders go ahead companies yep exactly where I don't they've got to go on on what they do and you text free copy in caps. To 64827. And you receivable. Coupon. For a free hot or iced coffee in any size he used at participating companies. The deal also includes the choice at T cappuccino or hot chocolate company's. Good deal way I'm in a cart field general as is a good beats treatments it's only a block rate and in and they you into gear. You know if you talk to come be. Clients will be a they're a lot that it's cheap to. EEC tens of us on not only against how much profit there isn't coffee it's like it suit she actually may yeah yeah you know where they've really make the money's grabs donut you grants of the -- up your preference and our technology companies does a pretty nice job I think in terms of creating in retaining traffic. Yeah it's a so yeah yeah that you pretty good job. The the situation in Puerto Rico. Eighties is not giving a lot better. In her. One of the big problems they have is they're getting. The tractor trailers in the in the truckloads of supplies to Puerto Rico. The suspended the Jones act they're getting these huge trailers full of supplies. There's two problems they have are one they still have a lot of road blockages a week later in a week and a half later many of the roads are still blocked but secondly. Shortage of truck drivers. Georgia truck drivers there and also you still don't have power to communicate with the ones that that are there so you might have try to put myself in all these miles away in all cities cities and had a way get word to this guy that he needs to come and pick stuff up like here's the thing if you're. A licensed truck driver in Puerto Rico you left years ago. If you'd make more money to me on the mainland you go to Florida. And make more money work steadily have lower our rates lower tax rates he just. There's only there's been a mass exodus out of Puerto Rico probably half million people the people who laughed. Puerto Rico and the ones that can work have skills like truck drivers and so that's the big problem and now he's had nurses the doctors believe. Teachers have left truck drivers if it because the economy's been so that they've been in recession for tenure will. In the problem as you said you've got 101000 containers that are now sitting in this port that have supplies in the men that have goods and on. And they can't get them out to the people quickly and earth and so. You it you know it's it's almost you know you've got all of these goods they are they just can't get that last mile down I almost wonder if you recall Jeff Bezos and say hey helps figures out like no logistics yelling that it would. But if you're a driver struck what do you do that it it might I mentioned this earlier it. The the people that are capable of working you can see the numbers in the selection be good exercise for me to go through the weekend. The percentage. Of the population in Puerto Rico that is on social assistance. Well hey look you don't have drivers will call you PS call FedEx say look what's gonna cost for us to get you know 200 drivers down you don't have drivers. It like that that's probably a good driver sure it was heavily tell what we are I know there's but look like in a natural disaster say look we'll pay you whatever we need to. It's it's a if I mean like Palestinian deal with it I don't know AM all I knows they're bringing guys out of retirement then you have a lot of men that are Puerto Rican drivers. That are volunteering their lead to your point they're saying hey I'm patriotic element of back and help my former continent my former yup state is not a State's territory. But it's they just literally and then you've got the problem with their transport east of rob getting to ordering together still not run in it anywhere near the the normal amount of flights in and out of San Juan at this point so. Eats it continues to grow was that the scale problem and you know you you're getting to the point now where things are getting you very desperate for an awful lot of people. Royal Caribbean. Left port with 2200 people. And they said what their cruise ships down to San won it picked up 2200 people now they're going to saint Croix where they're gonna collect 750. People in saint Thomas. They're gonna pick up 250 people missing Thomas is already evacuated. Thousands of people maybe the population. Of those islands. It's more pronounced when you look at seat for a sick Thomas NC John because. They had small populations to begin yes -- here's my question saint Croix only has about a looks like 50000 people according to Wie to. 3540. Oca. And yet a lot of people evacuate the island before the hurricane so my guess is the population of 80000. No ought to be down to 2530 at a time there'll okay yeah eight is what happens is people leave. And not all of them come back. Yet it that's what you remember if your house blew down and you go visit your cousin in Kentucky new get a job at Kentucky you may never go back. Yeah we need to go it if you do go back in immaculate anyway Royal Caribbean stepping up day good good look for that. That made it they're doing the right thing there they're picking up. A lot of stranded tourists that are still down on the. Yeah and and I know that on number of airlines most notably delta and jetBlue have been flying people in and out of Puerto Rico is rapidly as they can but it's just again there aren't that many flights they can get out their right now just because they don't have the radar keep. Builders the moment you know the tax plan from the Republican Party has been bantered about in we've looked at a new analyzed as best weekend. I think it's important to remember. That we don't have a lot of the details. Behind the tax plan. Yet however in the next segment we will be joined by Larry Kudlow from CNBC. I can tell you he has been involved ended insisting. In the design of this tax plans of anybody knows. For instance with the brackets are and what they're going to be. It probably Larry Kudlow so he's gonna join us in the next segment to talk about the Republican tax plan that and more 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 our break here we Berrian just 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 if you're like me you should want some sound advice on the best way to set up your state hi this is very Armstrong and if you're in need of state planning council or perhaps you just want to take a second look at your existing plan you should call Cushing and Dolan at 8668485699. And ask for their brand new guide called back to the basics -- 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 -- bank is offering in east savings account providing free online banking with a one point 15%. 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Yes you know we we see a lot of first time homebuyers who are making five and fifteen offers. 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 you pay more than the asking price and a yeah it is quite common right now in and in some cases are actually having to to research other towns and rooted in. Considered first because. Youngster can pat can't afford their dream home exactly. I'm getting we're telling first time homebuyers to really be aware of all the mortgage products that are out there that are relevant to that. Tell us about this leaders thirty yes who we are really excited about this product we just launched it is called leaders thirty. And essentially what it is is that fixed rate loan. Where if you sign up to pay your mortgage automatically electronically that everybody does for the first year you get to lowering your interest repayment by one person. That's very. Helpful offer because what it does is it gives you a 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 there are terrific bank you can call the total free at 8776917. B 900. Or visit them online at leader bank dot com to learn about their mortgage programs. 8776917900. Liter bank dot com. I like talking to a person face to face him a call 87769179. Country. Security suffered two securities America team members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to view this as the financial exchange radio network. There are many unanswered questions as it relates to the Republican tax plan we're joined by Larry Kudlow senior contributor to. CNBC to talk about some of those unanswered questions. Larry good morning and welcome to the show. So Larry let I'd like to start off with a what we know and we don't know. One of the things is that small businesses could see here. Tax rates reduced from I guess 43%. Down to 25%. Under this plan. But which sub best corporations and which LLC industries would be eligible for that 25% rate. Well I'm not sure I can answer all of that the tail I would say it is. Yellow C is in the partnership. Will be eligible. But you've got to have legitimate business income. He can't be eligible for personal and yet to show which you have an ongoing business. Probably the (%expletive) and retained. Earnings. And that you're not just transferring here tax burden. On Sunday you know personal individual side. That business is set to show that now that can be done done all the time and iris. I think exit could not see so. We don't know what that Ito's going to be and bill riot specific ruling itself or but the basic ideas as long as your business. You're not just using your you know like a lawyer. An accountant. I hedge fund manager. If these profits are legitimately business profits income side. He can't just do it for your own. Match you're gonna have to pay you know whatever the going rates going to be so. So if you had a their stockholders that might benefit in light that would be something to prove it greatly let's say you you were running a an accounting practice but there were half a dozen partners in Europe taking a sour but there were some also some profits to be distributed make that be eligible. The purpose would be eligible. As far as I know me I'm not an expert on. No that's a big issue though that that that's that's gonna help a lot of business owners. If that's if that's something that is available. You can convey you can be small company. You can be. Not a public company you know but I think one of the characteristic that definition this is going to be. Whether you are retaining your earnings Europe's banks there. As if it's not just the year in year out income well are you retaining your earnings. And that's where of these tax burden will be much slower. It has been very strong we've never done this before we should have done this before. But it had to be done carefully. Where one of the questions that I have a note that when Donald Trump first rolled out his tax when he wanted to corporate tax rate of 15%. Looks like we're gonna come in at 20%. How come back couldn't get any lower I've always been of the opinion that you don't tax the machinery that makes wealthy tax the wealth after it's made how can we couldn't get that down to 15%. Well we tried the public tried traps don't want this so why you need more and I put it in our. And our campaign that tax cut and we talked become a lot of you know you always want it does not be competitive the so. The average. But OECD country industrialized country that 25 I think and I'm like that. So. We should be at fifteen now would really really. You know make a first in the collapse now. Lot of countries I've got to compete without by Canada. Which has a federated system. Ireland about twelve and half. England Britain as it is common bound I seventy. China by the way it most it Tuesday. China and if you look at the array in China. They will do we need to read it visit 25%. Corporate tax burden and you read some more and that's fine print and it actually. 15%. Or something called preferred companies. I don't know what that means it could mean everything. But oh what that means. But my point is as low as possible look gotten dirty side too aren't quite right there's a gigantic tax. Add on. The repatriation. To read the immediate expensing for. New equipment as the big big move. Yeah issue is that going to be a debate. About revenues and economic growth that you know I'd say they've done. This whole package has to be based 3%. Economic growth for I think that's just logically you're gonna see the Treasury Department put out auto show that. They're not gonna use the CBO estimates which are only. One point 91 point eight treasury has two point nine over ten years so. People were worried about you know revenue neutral I think that what's gonna happen is. But lawmakers and look at it as deficit neutral zone and it has to be scored more realistically. There's three rates under the proposed plan what are the brackets well that was one thing that was not. Included in the disclosure. So you know that are. And not yet had not been good now we don't know what the brackets are. The brackets will be decided. In that suit tax writing committee senate finance and house resonates. And that's been left up to the committee's. So we don't know. I hope this three race I mean. 1225. And thirty. That's pretty good not bad news but it's pretty good there's some talk about you know I can't afford. Higher rate these hope that does not. I you don't need you which it was 10% by the way at the bottom but with the doubling of the standard deduction. And there's going to be a kind of a merger with the personal exemption. Nobody's got a patent currently up that seat that the mind coming out of the way and means committee will leave the details. And it's early early in the game so I can't answer all but I know that the intent. While he warmed up for your showed a more because this is a question you're gonna get on your show. You got a lot of New Yorkers that listened to your show a lot of people in Boston and connected high tax states. In the tax questions are coming in. Are we going to be able to deduct our property taxes under this new plan. Or are we gonna give up our property tax deduction and our sales tax and our income tax deduction. Well at the moment in any down. In the plan that was released Wednesday. Be deduction interstate local taxes. Is removed and it. Now you're right there's got to be a lot of political. Howland. I might add. It's really rich man tax. Mean we've already deductions elsewhere. And the they had production to lower rates and so forth. The member you. Lose you're gonna get rid of the 8 AM to be and which is another factor. So. That by eight of the state local not going to be as it is. As some people here. However Larry guy like you and Connecticut right. Property taxes high income taxes you get killed by this. Actually have worse I get hot property taxes in Connecticut yeah and I guess I income tax historic. Blue you during the week or if it's so. You could to play that any worse if you try. I'm just barely above water act and there I can barely afford to own. Yeah I wouldn't know what they're gonna pass the hat you know. But yet that's the preparation I agree also on the business side interest expense continue to ducked and net interest expense that's going to be a official also. And I understand that's and Larry thank you for a time we appreciate it very much. It's Larry Kudlow senior contributor to say CNBC and out tea. It just my opinion here folks that inability. To deduct your property tax bill and to deduct your sales tax in to deduct your income tax and Easter federal. I think it is a killer. Give you some numbers I don't I don't think that makes into the final plan Gary tones or to walk that back to blog let me give you some numbers here. Did nine states that are high tax states yet the highest ninth state to have 33. House Republicans. Preserve good luck trying so run on that next year how how do you vote for the ULEEU but as well commit Harry Carey. Because your dog. Did a year your political career is over. Don't think that ends up making it in what I'm interest to deceive the last part that Larry mentioned there talking about the ability for businesses to deduct interest expense right now. You can't phased that out in one year is keeping monologue of these businesses and advice on now or through any live 1020 year bond so. That would have to be something that you phase out over seven to ten year period likely. Otherwise all of a sudden businesses just yet black next year with effectively in added tax just because of what they had already planned. Now you know we we need a lot more information in order to be. Critical or enthusiastic. Regarding the tax plan we we still don't know which industries are eligible for that lower corporate tax rate. We still don't know with the brackets are. We don't know about the deductibility. Of property taxes but I can tell you. Anything about New Hampshire people pay huge amounts of property tax pretty much double what it is and any other New England state it's it's because they got knowing compact well but beneath you live in Maine or Massachusetts. Or Rhode Island or Connecticut European high income taxes you know and you get that benefit of that induction itself. We it will sink will say hey up next we're be talking about an NFL player that lost a sponsorship game. Because he took a knee that more from the financial exchange with him. Making your Smartphone even smaller here don't go mobile lab by surging financial exchange shelf in nineteen Jordan who. Who played stores this is the financial extremes radio network. 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This is very Armstrong from the financial exchange did you know that once you turn seventy and half you are required to start taking withdrawals from your -- air raid the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. If you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero cents and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you're interested in C ranked the number is 8776917900. That's 8776917900. 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B 900 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 with the is now Wall Street watched Mike let's start off first talking about roku. The tech company IPO yesterday how'd they do. Well it closed up that first day is up to 67%. This is a technically based hardware company that could get their consumer product it's you know wait to watch show Alter Netflix Amazon chose on your set top box Derosa getting integrated into a lot of that television these days. But investors can devaluing it more like a software advertising companies and it to a new rule rather than its day to Oprah oh or my bad nature it's up to today another fifteen or 16%. And bike a lot new tech startups still operating loss experience and tremendous growth right now so huge IPO Farouk. Tyson Foods up about seven and a half percent today what's good news for them. Yet few pizza good news one in acquisitions earlier. It's Pierre foods and they're good because exported to Steve Jobs and that acquisitions they integrated there and business. Playing saving about 200 million dollars as a result it also had really strong these sales throughout this year's they've raised their guidance. Up to 52530. Per share. From port 8525. I don't five cents a pretty big increase and again as well like he sent stocks up over 7% this one. Very good Mike thank you this time of the weekend. Mike Armstrong with Wall Street walked so. This past weekend we had a lot of NFL protest right players taking these teams taking and he spent every game of like remember them the Indian now and and would and we learn about viewership but he had. I think we learned it was down raise CBS is up but fox and NBC were down the we're. If you'd see it depends on the time slot I know that the Sunday in a game was down the Monday night game was down. The Sunday afternoon games were ups it was kind of a mixed bag fall under last night's game those bears Packers nose. I've a bit less Eiffel. The less than Salma they're gonna have problems first of all was terrible game and say they also had a 45 minute lightning delay so rated 9:15 eastern the game went. Pretty much dead until 10 o'clock so that anyone is coasters just like I'm Don I just want her to better when not lightning delay came out like aren't you know I'm sort of bad you know what's gonna be half an hour. Until the game before I got my game now yeah it was crappy game I I can watch him a bit players are so my point is well. The you know it's it's hitting the league in the pocketbook right is that a fair. The ages they get paid out based on how many people watch the games yeah I mean any time you CA downward trend in attendance it's not good or not attendance but in viewership record for the least we heard that the date them. To the probably gonna sell us tickets or tickets are sold. Well edict there already sold in New England to Cleveland and console. We will they weren't going to be sold via it doesn't matter in arid places like Jack Jackson handles an aura that you you're gonna try to sort out its ticket drew certainly you're gonna have. Guys that say well I would've gone because I would have liked seat nineteen play but the tickets are sold. Now the the BBC while not gonna bottom line I think it affects tickets hey here's where I think the F targets it aggregates it. On ticket sales that he gets hit on viewership. And now you're seeing players lose the use deals Von Miller arguably the best offensive players you if I would set up yesterday he lost as the few. What a local auto dealers silly still law does not olds. Weiss 21 out of 32 NFL teams are above 95%. Four attendants and three teams have yet to have a home game this year and so it does not they don't show anything you know. So when you say they're 95% above ten not 95% or above for attendance terms of ticket sales in terms of capacity. That we have these schemes to these nobody here just doesn't mean the tickets have been sold polls of people I think corporate. Have you seen every it personally of corporate tickets and also did you see that people like this week burning their season tickets they've already bought the tickets that just not gonna go like I've never heard of anything that Dohmann my entry to fans that patriot fans there's also. Yet there's a patriot so I think it's that there were. There were like 45 colts guys who burned tents as well which is good or bad teams but its only gets a classical literally taking a wad of cash and lighting a fire literally just with money on. Fire well anyway Von Miller. IE the in this sponsor it's a car dealership in Denver burner and the keys in the car dealerships trying to walk line on this because a lot of people that support Von Miller for what he did. But there's a lot people opposed to what Von Miller do it. Yes it in this store I'm. I don't quite know what the actual occurrence was here what the car dealership is saying is that Von Miller's contract collapsed in this in the summer and they simply didn't renew him. There was another at the commercials are running on Saturday the commercials were running prior to the game so they're saying a cable the contract lapsed why were you still running the commercials like you know they aren't getting paid he hired. You would seem to think that he fired him but yeah. In an email that says this week in Philadelphia and that they cut the please note all Von Miller adds need to be removed them is no longer part of Phil long along with the deal. Looked the company won't confirm. He's been fired silly don't lie well. Here here's where we've gotten to at this point is that companies are afraid to go on either side of just about any issue out there are only. They don't last for a company wants to do we had the marketing guys in for companies there that insurance company was in here yeah they will be be vastly it don't wanna take a position because it auto offended. No and and and the problem is that by not taking a position even doing that sometimes offends people is that there's no you know taking a position alchemy it's like. You're damned if you do damned if you don't think there's there's no right answer for companies on any of this at this point and it's like. If if you are a publicly traded company in particular I mean how hard of a time it is now. To try to navigate this stuff that you your Budweiser we used to be able to make stuff and people buy it now all of a sudden it's you being asked lake. Do you wanna kill babies like a. How to act complaint but no of course I don't want like why would you say you know we're gonna issued statement now. Anyway they just thought I would mention that I think you'd see a lot more. Core. Where we're Smart about where their vote on the Von Miller is you know they they make he fired. Yeah me your best player you have to remember fewer advertiser. You're buying that ad in order to sell whatever it is yourself and so in all my point is that these players and opening bout this thing through. They thought it through I think they decide that they were gonna you take him downs. If if they're taken that is. And he. And just a quick announcement on behalf of Armstrong advisory group today is the last day because believe it or not it's September 29. And he is the last day we can call in perceive your 2017. Retirement plan distribution guide actually most of downloaded believe. I'm one things and asked as asked this question this morning how is my diary taxed when I take it now will we include information about that. In the guy with telling its ordinary income. What are required minimum distributions and win the half the start take it Alley that catches a lot of people by surprise for some immunity. When your fifty years old in your sock and money in your 40 okay. You don't worry about when you have to bylaw start taking it out or even you know think about how much required to withdraw if you are in fact required. Take money out of your carry what she turned seven in if you click copy. Of the September guide go to financial exchange showed dot com that's financial exchange showed dot com and can download the guide right now. If you talk to somebody call my office at 803934. Zeros or one that's told three. 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. In any guise of teased me about electric cars for a long time golf cart. And now China. Is sending a jolt through the industry with plans for electric futures you know this is what's gonna cause. Electric cars to really take hold China is gonna basically mandate they're gonna require it by the way. China sells more new cars a lot more new cars in the United States does. You know what China's doing there accelerating the up production of electric vehicles mandating that companies start to produce significant numbers of them by 2019 who just fifteen months from. On and so this joins. You know a number of different dot countries that. The or building various frameworks to try to push. Manufacturers towards electric vehicles. I see no way out doing the solution that you remember that they even if you showed us all the top cities for other top cities for pollution it's like I mean there's like ten cities in China that on a bad day you can't see from one side of street to the up I think at eighty cities with the population greater than a million people and it's it just. It's it's a and the smog is just terrible for their he has all these coal plants and stuff that are just that's why they're doing right yes that they're doing this they're also a lot of their coal plants the retrofitting towards Nat gas they're doing a huge push towards solar and towards wind power just because they have thousands of people dying from here is that the air quality over there is absolutely horrendous anyway my point was. I've for the well I've been trying to figure why GM shares were rallying during the last month or so. And there are over forty bucks a share and you could have bought GM for thirty dollars in the last year. Anyway the reason GM's shares are rallying I think. Is they have a lot and you're gonna have like ten or eleven electric cars that are available for sale in China will they are the and one of the biggest one of the top two manufacturers over in China as is than in probably a year to right maybe it Tesla Nissan G for electric vehicles entering. If you include the volt actually you can pull that data upload give me just 12 at that. But it might. Point is. GM makes a lot of electric cars and if China's mandating 10% by 2019. And 12% by 20/20 that's total fleet sales have to be electric. What that's gonna dues that's gonna push their electric car sales to up well over a million cars probably close to a 1000005. Vehicles. That are that are electric that's gonna drive down the cost it's gonna cause the the cost of batteries to come down. And it's gonna cause the the cost of that construction to about just. All up bomb a list on the the UV sales in. In here for unfortunately the chart that I normally pull up his. So what crappy right now yeah it's not it's not really coming up the way it's supposed to take up a number should I did know we don't do that now. That's CNN news Africa. A platform for us today that we have Paul on. Alia. X and I am a hope and NC in a couple of and you a date date that was the story in you know everybody's getting into it Volkswagen sells a lot of cars in China the big manufacturers in China. If you wanna sell cars in China you have to have electric cars and that's gonna be the same thing that happens in the states does it make him in China that inch or more over here. Near the ten bestselling vehicles are in China would I can pull them up for in terms Buick. Terms of know these this this specific vehicles actually. The number one selling action of the top two were actually just Chinese companies that we would've heard of VW makes the third bestselling vehicle in China is the VW La vida. There were about 500000 of those sold last year. You know the fourth bestselling vehicle is in China. Is an American car it is and view looks up and it is a Buick and it is the Buick excel it is a time only vehicle 370000. Of those last year. The Nissan status of sympathy is the six under don't through manufactures that we know VW Jetta number seven VW sad guitar is number eight. And then we've got some other Chinese vehicles 910 but. We might say why do we care with sells a child remember folks they are the biggest there's are three billion people. The they'd sell more cars anybody else it's there goes a lot more predator and alien now that was about five years ago when they surpassed the US in terms of car consumption. And you know it's not even close I think they're sullen I'm gonna guess 24 million new cars in China this year in the US we might sell sixteen and. No it's amazing you go back to 2008 and in terms of overall. Vehicle sales it was just shy of nine million. And last year combined between commercial and passenger vehicles they did close to thirty million vehicles. You know the thing they have done a better job than they're gonna continue to do a better job on his public transportation. Is eat ya can't have cars. In that a country that size with the over a billion people. You can't say eat eat and have the same card population ratio that we have in the United States you were. Member it was four years ago it was I forget which city was outside of but they ended up with a 117. Mile traffic jam camp because traffic. What happened was it all these just to me they will know they at all these trucks that came out and so this traffic jam literally lasted for four days he got to the point. Where there's actually an underground economy that developed in the traffic jam to sell goods to people because they were stuck in their cars for so. Now the VP EU can't have the same card. First generation I think here we have a carper. We have about 270 million vehicles right now at 330 million people pass almost one per person and who's buying granddaughters who when your world so. Up next are we talking about trip advisor they are in and lose 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 and chuck for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio that. Work planning for retirement can be complicated process 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 iris penalty call my office at 803934001. Get my brand new free guide and learn all about RA MD's call 803934. Zeros or one to get this free guide and if you'd like we can also set up a free no obligation consultation to review your investment strategy call 803934001. For our new guide about required minimum distributions or you can download it from our website financial exchange show dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong represented their Armstrong advisory group in the securities America companies are unaffiliated. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out 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. 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 stepping. Add member FDIC a minimum balance fees may reduce earnings raids subject to change without notice and may change after an account is opened everybody it's Barry Armstrong and Todd ski joining you here for a quick legal exchange tip. And taught I wanted to talk to you about these trusts. Do you in that need to create trust if you already have a well I get that question 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 come and say. I have a will lies they plan is done. And it's really not folks and and and in the reason is once you ask yourself that question so if you just have a whale just ask yourself this do you wanna avoid probate. Well the answer is yes a will not doing now atlas you don't own house you own nothing if you're poor. Will probably some places it could designate had no assets make sure you put like designated beneficiaries on your bank accounts your brokerage accounts. And you don't and trusts or are people that have passed sprightly real properties. Got money in brokerage account you've got a piece of rules that immediate two pieces. I think that's fair I think that this thing to do it if you if you want an ill will as a won't 'cause it 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 to have an estate tax though we won't reduce your state tax it won't avoid pro but it won't protect your assets from the cost of long term care. That's a concern of yours so those are three Waltz that it will will do so I think the answer to the question is yes I think you need more. There will most of the time time to get back to 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 coda. The financial exchanges live on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Is it financial exchange radio network. They might want to check out leader bank dot com right now or give them a call at 8776917900. And ask about their new CD. Which is a thirty month CD. With a one point 75%. Annual percentage yield no monthly charges I have to do have a thousand bucks. Open up a leader bank's CD paying one point 75%. For thirty months leader bank dot com. Trip advisor wants tougher laws protecting online reviewers. From lawsuits I didn't know I'd. Rick tell everybody what happens here but I didn't know like you get sued because I write a critical review of a restaurant or hotel. Yet there there are some concerns that that the site has regarding. Companies that if they get a negative review post about the on their site now they then go and try to sue the person who wrote that we don't sutra to advise you know they go and they they threatened to sue the person who wrote the review in order to get them to take it down. How can they do that I mean if if I go to our restaurant. In the service in the food stink and I choose to write a review that says take your service thanks in your food was terrible. What the that's free speech. And a lot of it is. It is pretty much been threatening to sue not actually suing not many of these actually go to Los snow okay. But here's the other thing you do after a member okay. Is there are cases where competing companies go out and put up fake reviews all landing yeah products and those guys I ever heard of that and so why would somebody do that. So competition so let's say your bills pizza place in gyms pizza places say we wanna get you you know we wanna put bills out of business they may say okay we're gonna go on line a post fake reviews saying the bills pizzas awful. Now in that that would be that should be right it would yeah it did there's no there's not necessarily a law against it because the technology is beyond where the law and now and so. It's you know you kind of trying to acted thread this needle where you say. Okay we wanna protect businesses from fake reviews obviously give them the ability to go after people who post fake reviews now but he also wanna have protections for people so that they can say what they want without fear you know being attacked Shiite. Use those reviews editor of what you guys but if I'm Gloria if on the net town. The in on picking a restaurant you're entitled Bill Young lady if you go to town a restaurant your own town and you know the restaurants and know what's good with bad. But let's say your hundred miles away from home Kalish is from Spain that's what we used to 80% of the time did you strip it I use both trip advisor in Google and how accurate was it. Pretty accurate it's Google and others widget digit you know you just look at the restaurants and have a list or. User there there's who wore views for and from our Google places the gazette like by Yelp percent thundered no no bits they've they've got what's called Google places and so you can register your business on Google and say where you are in the people can post reviews to CA used to use yell. And then I found it trip advisor had many more reviews yup you heard all serve Yelp also has a big problem with fake reviews. Yes that's right sock on Yelp and get a big problem with fake review a Philly trip advisor how would you know. So the way that you know is like if a if the place only has like a handful of reviews like 45 and they say like oh this places like Austin and get like three more of the come in like the same day that says please terrible. It like you kinda have to read between the lines which is why don't use anymore. So what makes trip advisor better today and engage in a better job they later had a better system was like they might just have a better system of verifying someone's actually been there or not I don't know track record to. Whenever yeah effect on a good place that's you know well received they're usually right the other thing that I like that some web sites are doing now like if you're buying it good from them so like Amazon or wait fair. They say verified buyer in some cases they've actually verify that you've been there by like posting your receivers on. Like that Amazon does have pretty good really I use that on Amazon click on the reviews yeah a by product on Amazon that's that's pretty good thing. All right well the markets got a mixed bag today that Dow's down ten point that the NASDAQ is up twenty. Oil is trading at 5137. Very tough from the financial exchange radian. This is very Armstrong from the financial exchange did you know that once you turn seven Indian half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their diary or they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% higher rest penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 8776917. B 900 or visit leader bank dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank their jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the -- equal housing -- -- -- is number 449250. Subject -- credit -- -- -- a step ahead hi this -- -- strong with an important message for you and your family if you had a successful career and haven't yet taken the time -- plan for your future now's the time to make that call -- and -- and senior partner -- -- -- have been helping families like -- with -- state plans for more than thirty years and he's got a brand -- -- out this -- called back to the basics -- help you learn about the bare necessities needed to create -- -- plan but will also educate -- on important items like how to avoid -- and passing your assets along to your family -- Cushing -- -- right now -- 8668485699. And ask for your free -- today that's 8668485699. You can also download the -- right now by visiting them 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's very hard to calculate how much each year you are required by law to take out of your individual retirement account. Yet the way it works is remember that you get a tax deduction every year when you put that money in to 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 your IRA and it starts off as a relatively small now but the problem. If you don't take that amount out when you're supposed to. 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 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 in it grows when he get India mid eighties starts to get to the port port seven or 8% so it does grow significantly in you have to be aware that that number changes each year. Just a suggestion here but folks you might wanna call Armstrong advisory group and receive their 2017. Retirement plan distribution guide. The phone numbers toll free 800. 3934. Zeros or one that's 803934. Zeros or one. For those of you who want it right now. We can dot download the guide by going to our web site financial exchange showed dot com that's financial exchange showed dot com for the 2017. Retirement plan distribution guy. I'd securities offered to securities America incorporated 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. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency can't guarantee by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn said Indian half you are re. Juries are for two securities America incorporated member finreg SIPC and advisory services are -- 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 refinance us all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice -- don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new -- savings account that has a one point 15%. Annual percentage -- 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 -- -- a step ahead. In new. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your. World stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chunks. And. Very fact that you live in New England it means in defines that you live in a high tax state. What I mean by that your property taxes are a lot higher than that house is located in I don't know New Mexico or Arizona. Your income taxes are higher than if you lived in Tennessee and dash your sales taxes are pretty high too hi everybody it's very and shocked with you here on a Friday and you know I'd I'd love to spend half an hour talking about the tax proposal truck but I'm not sure it's worth it because we just don't have enough details yet. Knowing and we don't but I do wanna touch a little bit on this property taxes just absent data on the average of property taxes based on home prices in each state okay. The we would and number one this stay with guess what the state with the lowest property tax burden overalls Texas. And Texas is not in the top ten now Texas is where is Texas Texas actually the text is actually higher than you think Texas probably in the let's see Texas is going to be a drop in terms of highest rates actually came that first it's got to be reds get married Kansas. Cancer is not in the lowest ten no Oklahoma. Oklahoma is number seven seven blows the average property tax there's about a thousand to 36 dollars. Mississippi. Is number 6813. Dollars a year now. American progress all imagine my property tax Alabama is could the correct answer the average property tax on an annual basis there is 543. Dollars. Don't care that you if you have an album you could give a rip. About deducted your your pot your property taxes could you could eat eat you don't let's now talk about the top ten states I. Number two etiquette coming in at 5327. Dollars a year and number three New Hampshire coming in at 5100 dollars a year number six Massachusetts at 3989. Dollars and choose that number seven Rhode Island at 3800 year number. Eight Vermont the 3800 a year. The only state that is not in the top ten is Maine at 2200 a year. Albert means got a real high income it is exactly you know they've got a sales tax in Maine New Jersey Jersey is the worst the average property tax in Jersey is 7400. Dollars a year now. That that that's what I mean by knee when you lose that ability to deduct those taxes. This tax bill stinks if you live in the northeast it does. But I need to change very day that the you don't think they're married to it. I don't think there's any chance of that ends of going through it is that you need the Republican congressman won't vote for you've got. Fourteen Republican congressman from California okay California I don't about the 33 of the top nine states yeah he had at that list genius gave us you know you get 33. And and they can't lose more than 20/20 two yeah 22 so it's I think it's a real tough putt to keep that in there for them not to mention Susan Collins she would vote. In the senate no no he's got a chance to dizzy Hearst they would quality and here's the other USB governor. Here's the having you talk about is you've got something that's got to pass the house and announced passed the senate of these any chance that it is no way no way not a chance anyway Gates's it's a moot point because it's been changed a lot in the interest. Under fixed recalls. In one in four cars at CarMax. So CarMax new GI diet cart from performance is no I went CC how much my car was worth. But I would have gone back in a heartbeat. Justin it was a right from me at the time okay. But CarMax is a big car decelerated my parents used cars right that's their specialty doubt huge a lot you know lots of inventory. But apparently John you can buy a car from CarMax in 25% of the time they haven't had to recall seeing here. Yeah this was a study that was dawn looking at 17100 used autos that were listed for sale at eight different CarMax dealership in three states. They found the 461. Vehicles there contained at least one outstanding safety recall. That had not been repaired. And so. You would expect if you're buying a used car at least all the recalls would have been taken care of just to have you know that the issues that have been found already addressed civilian have to pay for that on top of. Because well your pain we got to take it in your dealership. Today enables easy recalls affect actually every Kobe for free but still some that you got to do that for a rate be in you know it's it's a pain for them. Does that say it's a Honda Civic the have to find a Honda dealership W the lot yet to drive it over there leave it there for the day or two to get fixed. And and then bring it back insult yes yes it's it's time and money right now. So like Megyn Kelly's new show is flopping lead and a gay here's some of the criticism towards making Kelley's new show. CNN and USA today dubbed the premier awkward the Washington Post called it a morning show bride of Frankenstein it. And tying said she fails to connect with her audience so she used to be. You know this hard hitting interview where it now fees like interviewing Jane Fonda who was CG on interviewed and he. I got really and is out the interviewers transponder she that was like her on her big day. In her when she launched it was like in an interview with Jane Fonda. Tara I just I can't I don't understand daytime TV anyway if you're putting your in the wrong rule I think he put her in a night. You know in or some other capacity like is that hard hitting. I mean sushi cutter chops on halt right that's what she is you know this was the choice is that a litigate this would be like if you took Regis Philbin and like had a moderate a presidential debate. Make is that your final answer. It again just it's just a desperate or comparison you know a evidently don't. To lower costs. Massachusetts. Seems seeks to limit Medicaid drug coverage this may be what we have. Going forward you know with the way Medicaid works. Is you get approximately 50%. Of your money from the federal government and then the state kicks in the other 50%. And Massachusetts has seen just spiraling. Drug costs they went from 917. Million dollars in 2010. To almost two billion so almost doubled in six years. And what Massachusetts is looking at is saying hey. We're not gonna give you are to be of the by a top shelf drugs. If you're on Medicaid in Massachusetts. Is that it in my deciphering that proper it sounds like that's what they're trying to do is is running a more limited supply in terms of the brands in the in this this if I was rice got from that they offer. You know it if you've talked about this before Felix and is now with Sweden does the end it's in no sewage Sweden doesn't what I think is very Smart that they do is the way they approved drugs. It's not simply based on whether or not a drug is safe now. It's based on whether. But the gains that you get from the drug. Are proportional to the increased cost of the truck so let's say that a drug improves. I'll long performance for someone who's got you know CO PD by 10% but it cost a 100% more Sweden would say. No there's there's not enough bang for your buck there were knocking allow laid off that drug I can never see that happening in the the United States just because that's not how we operate. But what Massachusetts is looking to do's and you're saying look if you want. What's the drug addicts perhaps the Donna blanking on the name of it anyway it's expensive it's 90000 bucks and what I think Massachusetts is doing saying hey if you're a Medicaid. And meaning you're destitute. We went up pay for that drug in May not that may be not the exact example. But the width they're gonna say is look you could buy from these this shell. A drug that you can't buy from Brazil the big thing that they're looking at is in places where there are multiple drugs that are available is instead of saying yeah you can choose from this list it's no we're gonna we're gonna go for the cheapest one right in that case. And and it is rationing if it's it's it's and it's discriminate. Discriminatory. Towards poor people. As you know the people you know people are gonna complain about is it law might my mom's poor and she can't get the good drugs. That's exactly what the argument is going to be because one thing that you do after member Medicaid is not just used by. You work porn people who don't have money in their 20s30s and forties is the program that supports people nursing homes are okay. And so if my mom's gonna dive beacons Charlie Baker will have trucks and and look it might be of they have very good argument like that might be the case again in some situations that might end up being the case but snapped from a budgetary standpoint I can see you know you're you're you're drug costs truck they more than doubled in six years what it with the average 13%. Yet it the F 13% cost authorised by 13% a year so I can tell you this what they're doing right now isn't working as far as controlling all well and like anything else in life right if you're rich you're getting a little bit better health care. Rated if you got it if you got the money. To pay for the drugs you're gonna get the good ones if you don't have the money if you're on Medicaid you're gonna get allows you the question becomes where do you draw that line and made it's it's. It's the debate what we're doing an unsustainable is. Otherwise you crowd out all other healthcare spending eventually get to the point where all you're doing is spending money on drugs and nothing else and and you can't do it. The question is where do you draw the line and I don't know that fortunate. Up next or to talk about eight corporate tax holiday. I think is about two trillion dollars sitting outside of the United States is not what we learn to treachery showed up two and a half to three trillion yeah. They're number and this is money you know companies like apple in an idea how much money in Ireland right now right. And they're considering. Having corporate tax holiday in order to repatriate that money sort of talk about that with Eduardo. Porter from the New York Times next from the financial exchange Purdue and. Work markets continue to fluctuate but we've got you covered get your daily update on what's hot and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. If you worked hard and had success in your professional life protecting your wealth and 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 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 -- -- 8668485699. To get your free guide today the law firm of -- and -- has been helping families protect their assets for more than thirty years let them help your family call now for your free copy of back to the basics at 8668485699. You can also download the guide by logging on to legal exchange showed dot com. If you're in the market for a small business loan you need to call leader bank if your 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 -- half you are required to start taking withdrawals from your IRA the problem is that many retirees don't know how much to take out of their 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% 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&B rule as it pertains to your current employer plan called the Armstrong advisory group to request our retirement plan distribution guide at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are with 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 that is surely worth your time to check out -- bank is offering in east savings account providing free online banking with -- one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't -- log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Her FDIC no minimum Alex fees may reduce earnings raids subject to change without notice and may change after an account is opened. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. According estimates there's about I don't know two and a half trillion dollars sitting overseas ceases. Corporate profits that have not been repatriated because of the high tax race here in the United States. Under the plan. Proposed by the Republican Party is it would be a program that would allow that money to come back to the United States. We're to talk to Eduardo Porter from the New York Times about that very topic. Good morning Eduardo. So it it's is that an accurate number that I just gave about two and a half trillion. Looked at it Vick is more art and not every company revealed how much money are the broad. But batted ball mark but I've heard somewhere around two and half trillion dollars. Again you know it is not a very very site. Net. No we did this once before at least once before that I remember I think it was in 2005. For eight. You yep that's right in the administration George W. Bush. I let them legislation would have been in the summer of old war that would allow. Companies to repatriate. War in fort. Brought. At it rate below six per cent. Which is you know way lower than the package the rate or. Ray would glitches. Great for corporations well the results like what did we learn from that repatriation program of 205. Well we learned several things. I'm the current and that a lot of companies being taken is. Bringing money back. But and perhaps more relevant to the conversation right now is that all but it is that this money will it easily easily back in the new research that ballot you always may. That really didn't group could be true. That money that was brought exactly some 300 billion. It came back in 2005 which would be Europe yet the holidays. Most of that money was used to basically rewards Cheryl shareholders in we share buyback. And I to boot that executive pay. The best not necessarily a bad thing right to bolster the share price to me it's still got the money back into the United States it. It it I would think you would have had the effect of making the currency stronger when enough. It happened yet and it ain't having it stronger currency. And the goal well I suppose that the Arctic and it. And it contributed to that you know not be the legislation would impact proposed. Under for what reason the unemployment. Okay bird bones at all. There are so in retrospect. What was the assessment of that program into one unified. Well give out there were view that. On one interesting one was biker and or who was on. Or W Bush's outlook economic crisis that. Right she actually helped design the 25 program right is she's the one right there IT. Yeah actually the what are IP but the DA let why. One black white onboard. But an eight and then a few years later in a couple of other animate. Ron Harbour and here in Illinois that about a campaign. Kind of look at will what half. Yeah and so they all of that. There'd been basically no increase in ointment that bird react and return the money and also no known no discernible impact on. But they did the an impact on. Aipac it and. And then there was another another report done by hand by it and it subcommittee. That found buried in that had bigger they're binding no impact. That a lot and share buyback. And they also found an increase seen in executive pay all. Following this holiday. But that's like everything that you mentioned. Is it it may not have been as promised but nothing bad came out of it did it regulated like I look at they got 5% tax. On 300 billion this go around they're gonna get some tax on two and a half trillion or maybe trillion dollars an hour. You wouldn't let let let me that it were quite recent decline back read the fine the orbit from the well I mean let me say. What bad happened but one thing that I would intensity here telling a firm that gives you your money are abroad in the annual holiday will I'm. Is not a great incentive for companies that we patriot their money just that and more you know we've got iceberg that. Already this year well what is it that you know what to say we won't get another one you know in years down the road going back. It could ultimately end up hurting the object is having her as a regular you know the regular business. Repatriating opposite you know because they'll get you waiting for all the. Or you power your tax rate permanently right importantly I like if you had a 15%. Corporate tax rate you wouldn't have companies hide this money overseas and. Trivial to you that there will be less of an incentive to do that yet and you know one. The president's proposal is new B to cut the corporate. Rate you up pretty heavily black. Now would be the is this program many different how how does this program being proposed by Republicans differ from the one in 25 or does. Well right now. There have been no would be that the. It is very light and eat. Well if they're proposing in the. I mean it had been mentioned. But I don't know it and I've seen though like. Yet in what you're saying is that the last one. Did not come as advertised rate is now at the point you're making your art. Right the LAPD would did not come and advertise. I guess it's an important bit. What happened was good or not. What I that we we could debate that but I don't think it was added ward all right thank you Lee is because. Like I read your article twice and you you pointed out the validly made valid points as to it did dude didn't create the jobs and is expected to. But it helped the currency and protect your 401K went up and die at the stock prices went up. So I I I don't see where did my thing that was really bad forks. Well I mean typically with some ideas that increased the value of the currency. Art right. Which is something that the current administration think about it. If the processor actually a good thing right did just that at trade I'd like to trade deficit because that means we're and a yourself. It really depends on where you it and you're at the you can argue that they only open ended up or reduce the amount of money in the and people copper well if you're concerned over that. People that is it and you think you we need more. Tax revenue of art from Becker in the bat that can it and the other you it will that that would never their old money if they didn't build it. Well that at least they got a hold some ten children at the gripping but it it really I don't think that what that you know that you make that all. On the jet based on the fact that somebody came back. No Edouard Alyssa EU makes him very valid points in your article and I I very much appreciate you joining us on the show today thank you. Well thank you very much out of that. U2 and Eduardo Porter or and and and and I had I will concede the point. That. That tax holiday he didn't create you know hundreds of thousands of jobs because I've looked at similar analysis. No it doesn't. There's nothing wrong with having a strong currency and and haven't stock prices to one and the other thing to remember Ronald this is you wouldn't have a need for the tax holiday if you got a code in line with the rest the world now. Right right you you wouldn't have to do these holidays if he had a 50% greatly it's it's a problem that's of our own creation right you you really wanna see things take off. Zero out the corporate tax had no corporate tax yeah you know that that's. That's how you really get the ball up. Hey coming up will be just talking about roku shares they went public yesterday how they do like to know what are turned to. Financial exchange radio network. You've got Barry Armstrong. Extra pressure on the financial 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 of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader bank. A step ahead this is very Armstrong from the financial exchange did you know that once you turn seventy and half you are required to start taking withdrawals from your irony the problem is that many retirees don't know how much to take out of their hiring a war they get confused as to where to take it from if you don't take you were required minimum distribution you're subject to 50% IRS penalty this month I've got a brand new guide out about required minimum distributions that we'll tell you how much you have to take out of your diary based on your rage it also explains an exception to the R&D rule as it pertains to your current employer plan Colby Armstrong advisory group to request our retirement plan distribution -- at 803934001. That's 803934001. Or you can download it from our website financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services are 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 -- 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 online at legal exchange showed dot com proper estate planning is critically important to a safe and relaxing retirement so don't delay get this free guide today protect your assets and enjoy your elder years 8668485699. Or download it right now at legal exchange showed dot com. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of round date with zero liter banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more would you rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816 or 18691. Very Armstrong here and I'm joined by the vice president Jeep tool. From leader bank. We're talking about zero rent this is exciting because zero rent isn't method for landlords to collect their rent electronically. But there's now. Find it refining. All right so is he rent is a product we innovated leader paint. Comedy can be found it www. Siren dot net and it's essentially. And online payment technology that allows landlords to collect the rent you electronically and it's. So there several advantages first you say goodbye to being reliant on the use Postal Service. Good night to delays in the mail and no more need for paper check right. Where Israel and a laudable and it was don't even have a checkbook re getting that all the time away in the roll call in and sign up because his tendon saying you didn't checks the British really starts to get funnies when you your landlord in you have. Multiple tenants living in units this grad students your university. 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But don't tell Berrian jog in the financial exchanges alive every day on FaceBook and YouTube there's there's the financial exchange radio network. We're joined now by Todd what's he used an attorney with the law firm of Cushing in Dolan were talking about his September guide back to the basics. It's a complete guide to estate and asset protection planning. Todd whose best suited to read the guide and by the latest last that he can get it whose best suited to read this guide about. Estate planning. You know hot and very I'd love this guy probably all the guidance one and one of the best is because. It really takes it'll Al. Everybody out there to read and us. Especially the people that haven't done planning yet you see one of these people are saying boy estate planning such a pretty. You know or deal and they get overwhelmed and they don't want to do when he sent and they get crap and this. This guy basically statue up and tell you how to begin the process how to what to do how to value your state. How you know how your agent fractured decision making and it basically. They basically stepped up a flat pattern. And then I write and the complete plan based on the pattern of being here. And these families that are reading it can use their own fact pattern their own app as that you put it in your best recommendation to write them. Right you have to have assets in order to make it worthwhile doing an estate plan right. Oh yeah you do you know but I don't want people to be put off by this act are quite frankly there's many people who have. Who have out that even if they're under you want to be a millionaire to do it means you got your house and you know some money got to make it. Economically make sense for you and your family to spend money to protect ranked. He got some aspects for sure. Gergen Ari what Todd thank you very much for your time we appreciate it. That's Todd husky from law firm of crushing goal and Dolan during the month of September today is September 29. You can call Cushing and Dolan and receive their guide as a relates to a state planning 8668485699. As the number you would call. Easiest way to get at though is go to their website legal exchange showed dot com. That's legal exchange showed dot com perceived as September guide called. Back to the basics a complete guide to a state and asset protection planning again legal exchange showed up on. Roku. We've have been a lot of IPOs in the last year to nothing about companies like late in the justly and a roku shares actually did pretty well. Yeah they they did very well beyond the IPO went off at fourteen dollars a share and by the time the closing bell finally rang. The stock ended up closing north of 22. Dollars a share they ended up making 67%. On their opening day. Derby additional 13%. Today. Currently trading about point 665. Right now. Yeah I think there's how they missed the I don't think so because they had tried to raise a bunch of money earlier this year from up private investors were taking the company public. And they priced at one point five million dollar valuation and couldn't get any takers. So they did well yesterday. Yeah I mean I've I think sometimes use get a company that paid for whatever reason I think with a broken the big thing is. We've been talking for the last couple years about the transition away from traditional median toward streaming media. Rook who had their court there is there streaming media company at their device now trying to build out a platform for advertising. But I think that's why you saw some excitement on this one was people you know said hey you know this is a new media company maybe this is one that could take off here. Roughly eleven and a half percent. Federal student loan borrowers who entered repayment. In 2013 and 2014 fiscal year defaulted on their student loans within three years this is accord and I bring this up. Eleven and a half percent default rate is huge and me think about was the mortgage foreclosure like 4% yeah that sort of 5% range for so eleven and a half percent of people of student loans default on the game thanks. And this is an a good job market to default. No and is part of it is the highest default rates have tended to happen at these for profit universities. And that's where you tend to see the majority of these defaults occurring CA I think he needs AM and I know that vision hate me listens to avoid and where you go on these loans need to be underwritten. You know like if you wanna take a class and let's say year your taking a major in something. That that doesn't pay well worry. Has a bad track record let's say you're applying to I don't know it would be an example would be secretary school Friday there was some of those that you know the air. Medical records member there as the schools notice of the specialize in we're gonna. Helping get a job and a medical office. Ed and I know that those those kids did not do well after the they took those classes why don't under rate does all did say. What will make Islam year old man's gotta sign for letting the biggest part of the problem is you should not have been under writing any loans to for profit universities and not one because that was all federal money. It was it it was it and then the raids to get a lousy education where they don't get any education and they say while not paying that little back because I couldn't find a job. Yeah and the promise you can't sue those companies now most are ran a business just because they were so bad. It is no there's no record as a stairs to get them if it was a scam news a lot of us for profits will reduce scale operations. My first CEO Dara cause cats are shocking thank you. He's in Augusta he's he's in London trying to work out a deal. Yeah he's in London trying to while work with London regulators now watch you while mixes their license to operate does not lapse. And so is going to be there is going to be trying to on meet with the TFL commissioner of the transport for London commissioner Mike Brown. In the next couple days they've got 21 days to appeal this decision. That is scheduled to go into effect after tomorrow. And so this is. It is the first first test for cash or Shahi as. Cooper CEO and so on on accuracy what he's able. To get out of this I mean this is this the kind of situation when now be called off with you you've got to be able. To deal with me call Wright is like basically throw himself at the mercy of the court I'll I'll tell you what it's chance for him to be able. To say there's a different Hoover now that he's in charge elect effective he's going himself to. It national responsibility had there you don't send a subordinate to the chopping block you say look I'm gonna go home and deal opus. MGM Springfield is on track to open in twelve months great news great news it is her in it's it's great news for Springfield. It is odd contract open. That is from Mohegan Sun and boxes yet they gather those two plays I think you're gonna have some some real trouble when there's when an ever open and that's under constrain 19 July 23 2019 not that I know. That's a long time to Ayers is twice the laws of tapping apart. It's the biggest private project in the history of Boston. On. That's a big part of the big one. That's a two billion. Just about selling one point 82 billion somewhere around and much Springfield bullets it's not strictly realistic about 70800 million that's a lot of money for shrink to somewhere around there. And so it's gonna be interesting to see what kind of you know visitors they get here and how much does affect foxwoods Mohegan Sun. My expectation is at foxwoods Mohegan you're gonna have some real problems it's all we can exacerbate the financial issues the state of Connecticut's interest and. I'm sorry interest and he says chuck is two days ago I Warner discern or feel the heat a little bit appears fox was announced our police officer opening a multi level indoor go Kart track. Element have to go down for that yeah I am I gonna foxwoods and probably two years now that's a significant like. Development the parlor are and if there's another on yeah that the problem that both those locations. Foxes and he and his that they are not destinations it's not like New York or Boston. Yeah nothing else around your personal nowhere so nothing else or if if you have a casino in Boston. And you live in. Concord, New Hampshire he says okay let's Goodell catcher Bruins game on Saturday night in with the casino. On sat after the game and if you make the weekend. And these nothing compelling the issue go drew Whitley of pretty good entertainment pre concert hall gets a. He has decent concerts that come through there but it's the it's you have a professional sports team know and in the other thing is like again that's all that's there so you know you sale will go down to Boston for the they'll do some sightseeing and then we'll go to the casino that night that today in Connecticut you say okay we're gonna go to Mohegan induce IC doing. There's nothing to see there yet with limited very limited. It they did well for what fifteen years the business so get me wrong they put a good product on the table but if you don't have to drive two hours to him why would you. Insolent. Is expanding production to Acton Massachusetts. And they're expecting to add hundreds of jobs that's good news. Yeah expected to add a number of jobs here as they two in the deal digital equipment facilities and yet they they bought this facility that's been vacant for the last fifteen years now. And so they're going to be on making their flagship device there which called on the upon which state to bliss insulin pump for diabetes patient as they make it now in China. Which and and I think it's interesting that you're starting to see some jobs come back from China. And I think part of its pro tariffs part of it but I think part of it is. You don't wages have been increasing in China and you're looking for skilled labor. Need to make these things we'll these it's actually going to be a lot of automation in the U us lot of robot or robotics the saying the cost. The cost of robotics in the rising cost of Chinese labor are pushing them back to while moving here that's good and quality. Yeah and this had to get a better quality product that the United States and you do John they still think even with the automation they're going to employ they could end up with 15100 people working at this property. In the in table talked eyes they're adding jobs in Worcester. Table talk. I've noted that aren't what aren't hall what is with the pizza cookies aren't they cherry pies and pie. Like I have an order with the says no never heard of table talk. It's a restaurant. What is it you guys what what are your none of our listeners you know what the says Maloney. A bowl game the V6 86 days. Table top prize had wonderful lady what what really is it. It's right but what you still haven't elaborated. I get that it's high so immensely we're I think tells it like drove it. Okay that he has delivery did they do take Alex I'd I'd work restore. They have it if it's good pop you get a table. No you don't you don't get it. You get good putt. They make a good pie what what is it accepted that pie they're going to witness at making three million he would economic Foreman. Well we we what kind of pipe takeaways very good idea what bridge grocery stores to they sell the mutiny. Market mask. That's one associates a brand. I don't get it this is at a restaurant you on this at a bakery. You know table talk stone way to connect I I thought I I didn't I never heard of it before this. Public its as they're smack eyes what are you guys border that America doesn't apply to the snack I mean this. And the place that even its small hours the full size. To impart to you guys are undeserving. And you know. You are undeserving. Of of my knowledge I'm not gonna share with you anymore this is something again like the freezer section or something up next will be joined by Paula Monica. From CNN money to talk about Blackberry. This a company that was on the verge I think you're on the vertical and out of business and turning it around to ditched extort money up next from CNN money. When he took the injury. The financial exchange with Barry and 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'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%. 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Whole Monica from CNN money joins us now here to talk about Blackberry. Who. A lot of people might not know is still actually a publicly traded company Paul thanks for coming on. Yeah no problem Blackberry had. Pretty. Solid success story almost dare say as much as table talk I but we will go on out here. Table what yeah. Both talk a little bit about Blackberry there about 60% year to date is there anything behind this rally years it's smoke and mayors. No I don't think it's smoke and mirrors at all in the company has reported really solid earnings from that there's software. Security businesses I mean they aren't. Do you leave a hardware company at all now they outsourced the production of the flagship Blackberry phones you still have people walking around with blackberries obviously but they're meet five. Other companies and even those blackberries most of them to touch screens they are like real Smartphones not just those QWERTY keyboard. Devices that Devlin was addicted to in the late nineties and early 2000 and even now. So Blackberry has benefited I think some in some respects from all of the security concerns and scares you know there's always bugs and now we're going around. That's something that has boosted Blackberry but also connected cars they don't Q and acts. And operates the yes system that it toward and they just did the deal with Delphi as well what's gonna have more entertainment software if connected cars. How much intellectual property that they sell off a few years back I know they they'd sold some different pieces off here in there to try to stay up golden 2012 and 2013. Anything significant. Yeah I did that thing with black areas that they have sold off. Be chunk of there patents and also did the licensing deals they've done. That is made them a much lower financially healthy companies get work in certain you know not you know couple years before junction took over. It is Blackberry and don't wander up and be. Like out on me just kind of relief feet away but yeah. Yeah really his term in the financial around in Dallas the companies that has not too rapidly cash. 700 million or so long term debt so on behalf of balance sheet that the only didn't squeaky clean the way to say Apple's might be good all the cash they happen. There are no longer be years that this the company is gonna go on. Where they go from here what's next in terms of what they want to continue to push into. Yeah I think the Blackberry is can they continued to you the try and I think you can image. The so called Internet gains in. Connected devices Q and act's powers watt those initiatives and you're really receive more automotive deal I think that. Well then and then I think also the security as well sadly we're a world where. You know it seems like every other day here about which is going on that terror. Affecting millions of consumers and I think that's something that helps Blackberry. All with other. Security software company music content but are. Goodwill Paul thank you very much of the time and dollar drop upon the mail TRE. Outstanding gets over the next week Paula Monica firm CNN money talking about Blackberry ticker on that company. Is Bibi or want a security news is what it's all. Yeah that's that's really did in this of their moving into now and also obviously the connected vehicles big potential future market. Where there as well as son who's working ease an investment banker in New York in the all the investment bankers Goldman Sachs JPMorgan Merrill using black turtle he's Blackberry. Yeah and they do it because confidentiality soul port yeah. In so these kids they they'll carry two phones in terms which is inconvenient that the. At least two anyways yeah they always used up the Blackberry and and you know your football back that enough probably Blackberry and iPhone it is that's that at least that's what he had done so. And I that Tucker I guess he had a few text that's yeah we've got a on a crap and excellent chuck and I front did not normally table talk pies are pretty much I've been I've been called a whip or snapper about eighteen times at this point in the last four minutes which I I was unaware that that was term that was it was usually use the term we use he has the yet Tex or not it's not a lot weekly and we got some phenomenal tackling these are some of the best tax that why we got you guys been living under from 978 those millennial you work with the clueless about that was particularly strong young idiots everyone knows tabletop. Another text and get out from your mother's basement guys and we is that your mother's Peyton they'll try to. Nazi leaders of the pies oh my god care about their ties. Would see what else we fear if you know table top prize your Communist. I what I thought was particularly good. Those young with her kidnappers don't know a table talk prizes how one American and go get one today just how much earlier in what size of the common. If I size telling them this is evidently for only for baby boomers are allowed to have. Two top guys you certainly won't how do you stand working with this age group. Not easy 71 I hate you know I should get combat pay a you should or should I should be paid IG daytime and a half and you don't have to pay taxes I should make more money than anybody else because I have to work with. You know the Euro chuck and I only buy organic kind of the two yes again. We opt out of our eyes off via avocado allies of the fifth and and anyway some of the best exit ever gotten to the really good ones we can't even read but now. Dow is down five points S&P is up six nasdaq's up 33 points. And the sea crude oil trading at 5137. A barrel or Goldstein. Under thirteen hundred announced its. Down a dollar forty. At 1287. It's very shocked and Tucker and those of the two young millennial life. And we're broadcasting from the financial exchange were you know.