Nov 30, 2017|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with the very Armstrong and show Oksana. 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 chuck Exxon. You know there's something fishy going on when the Dow eclipses 24000. Yet the top story of the day continues to be that bitcoin. Hi everybody it's very and truck with you here on a Thursday morning in. Some of it done this old Helene I should all this new polling. Plunged 18%. After topping 111000. Yesterday. Yet it's got to the point where you know I hear people who have no experience in finance no experience making financial decisions talking about investing in it. In that makes me nervous at least in the short term it's not to say that they corn doesn't have promised for the long term at some of its applications are a potentially groundbreaking. But in the short term. It kinda makes you think. We're getting close to the end of this one here rate or. Well the the volatility associated with and there's numbered for waging price what's it mean if you Google doodle the price with a 9464. Cent accurate or not to 500 yeah okay. On. The in there's lots of different ways to open an account we're certainly not encouraging you to open up going to count but it is interesting to watch. The volatility in the one thing I. Question is when do some of these central banks and went to the some some of these governments especially governments that tend to. Oppress their population I think you've come with governments like China India yup Russia went to date him and say hey. We're wheat we want a piece of that action we we we want taxes we wanna regulated when does the United States radio we're famous for. Well keep in mind it is already taxed if you buy and sell bitcoin in the US you incur games you do have to pay tax on those OK so if you don't pay them you know obviously someone's gonna show will be going is reporting. It so bitcoin is not a company. Okay bit bitcoin is just the the the platform in the system but the so I'm responsible for self reporting if I bought it for thousands and sold for 111000 I mean 101000 dollars in profit. That's on me to voluntarily. Report that my tax will keep in mind if that money comes back into your bank account hope you're thanks reporting that that's coming in anyway right government knows better -- Completely wrong. Yeah it's it it's wrong to the point where I can refer you on to the IRS document. That actually Buchanan details this because the iris a document out. I believe couple years ago it's noticed when he won 42014. Das 21. And it pretty much says look if you are treating bitcoin. You're paying capital gains if you make money so Freddie thing Vladimir Putin feels about vote. People cashing in their rubles. To bide that point anything Donald Trump feels about people cashing in their US dollars to buy it when I I just wonder of the day care too much at this point. Because it's so small it's time you you look at the view of the overall amount of facets that we have in the world in almost 200 trillion dollars and okay. Big point represents 200 billion is 110 of 1%. Of overall world assets at this point. Any is it it is having no measurable impact. On you any economy in any way shape performance bar as. You know it's overall size and scale. Pretty good way to get money out of the country isn't if you're Chinese citizen it is in the and that's why they're the places where it is most popular right now are in areas that do have capital controls and restrictions on liquidity and so forth KG it's hard to get money out of the United States week we joke about China how it's hard to get money in China but. Tried taking twenty million dollars and I've never tried to get get out of the units to have never tried yeah it is it's not easy no. So he hears you know the way that I look at it what you're seeing right now it is it is. A highly volatile situation akin to walking into a casino and OK this it's again not to say the big point doesn't have promised but. If you are buying right now saying hey you know I've got you know 500 bucks that I wanna put in and maybe a turn into a thousand and then you know I can go and you know go on that trip that I always wanna next year. Your 500 might turn into 250 your left under my turn into a hundred OK so. This is a time that you have to be very careful as far as going out and buying this for the short term because I see so many people are so much inexperience. That say. Oh yeah and and and need to get involved in bitcoin now because I see it do you go through the roof and I hear all these stories about people made millions of dollars well it's all over social media. Oh it is it's the it's everywhere I I haven't seen this much buzz about it ever. This this is it broken new ground and if there's one good thing that comes out of it. It's that I do think people are always going to be a little bit more aware of it and understand it a little bit better in the potential downside is look if if people's first experience with that. Is that they lose 75% of what they put in. It'd do it potentially went in the time until it gains mainstream except. Are eight recently there was a survey done. Of US workers and US workers many more US workers now report being dissatisfied. With their financial situation. Then they did just two years ago this is a survey done by the globes newswire. I I don't get this I mean the economy is markedly better today than it was two years ago and yet workers are dissatisfied with their their money. The day it is interesting to what to see this right now but I do think that that the big thing that it relates back to his wages. Wages have not wrong. And so when you're in a situation where the economy's doing well and you see people around you doing well great but your health insurance costs go up your taxes go up. You know your cost of college goes up you all had that much in your 401K c.'s use you might be tapping that 41 K for a loan or something new you're sitting there saying. Everyone else is going on all these trips in doing this in doing that announce it here. Still struggling to make ends meet I think that's exactly what is going on here because wages have been stagnant for so long at this point. Among those making more than a 100000 dollars per year 13%. Said that they are struggling financially. Compared with 41%. Of those making less than 50000 dollars a year. Fears of losing health insurance coverage may come into play today. The larger issue says seems to be the frustration of middle class Americans about their inability. To get ahead financially. A lot of this and and when you talk about that 13% that are making more than a 100000 to say that they are struggling right program that speaks to the fact America's still spending problem. Down America unit within their Americans are not good at living within their means because if you or making a 100000 dollars out of care if you live in New York if you look in Boston fueled in San Francisco. You can find ways to live there for less than a 100000 dollars. It might not mean that you have everything you want yet you might have to give some things up. But the fact is if you are making that money. You shouldn't be saying that your underprivileged are struggling to make ends meet there's there's something you're doing wrong if you're making north of a 100000 and you can't figure out you know how to make ends meet. And that and that might be something pay instead of living in downtown Boston maybe go outside the 495 will maybe move up. You know just outside you know the 495%. Itself. There are things that you can do. And unfortunately people don't want to do to stay. It's 51%. Of employees who reported suffering a significant. Financial event in the past two years. 30% of those who experienced such a financial fraud and said they had a significant medical expense. You know that that's the problem in the ill prepared. War financial emergencies. A look at the money that we. As a society spend on some of these things and you know it it's kind of mind blown meal look at the average cable bill to people haven't ran a 120 dollars a month. The average cell phone bills around a hundred so right there you've got someone making fifty grand a year that spending 2500 dollars a year. Just on the other cell phone just on the that there Internet service in. It's just well we we continue to make bad spending decisions in I think that's the big reason. Why you see this for a lot of folks but again I think it comes back to wages neo wages simply have not gone up. Out of real basis in the last four to five years and. Corporate tax rates are up for debate for the longest time president trumpets that he wanted to 15% corporate factory he relented and went to twenty. Now there's talk about the corporate tax rate being 22%. Why is that well Adam Shapiro from the Fox Business Network will join us next to talk about. What the future holds for tax rates corporate and personal. That and more from the financial exchange radio network. Trump's administration hasn't passed any significant legislation yet but tax reform is front and center at the end of keep it here with Barry in check for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio network. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 7816418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking -- one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Hi everybody it's Barry Armstrong and Jake two Lian we're talking about a program called see rent. This is specifically. Designed for those of you who weren't landlords and used to collect your checks. With paper checks are gosh maybe still do will zero rent a allows you to collect checks electronically. Jail hoping he could spend. Little bit a time explaining how he grant works and why it's a big advantage for landlords. It varies so we we develops you arrange to out of me to hold it yet because right now. You know with the landlord when you're. Range and low unpredictable. Missing envelope the great line mostly waiting you my neck and all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation in your red thing you know what he does is it really pitched they'll. It makes the ranked electronic payments and allows roomy chairing through multiple remains an apartment that's great if you're renting out to college student Hulu. It's predictable it comes at the same time every month. And it's all on me. So the landlords who have been using it in huge time savings and appointments are you still giving the first six months free from landlords the first six months or three and then in addition to that. If you bank in one of the participating banks he ran is always read. Those participating banks are meter being installed. Via at that any bank could sign up bright and keep you at a bank in Vermont after Connecticut. They could sign up and become part zebra yup you your if you have a community bank that wants to be a member haven't Collison and sign up and the Serbs let me refer. All right if you want to learn more about the rent. Go to Z rent dot net him a call 18776917900. If you're bank doesn't operate they can sign up for zero it. Go to zero rent dot net or call them to all three. 87769179. Injured. Security suffered through securities America any member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong represented a Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor for Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. The financial exchanges live across New England every day if he can't hear us live contended noon. Download the I heart radio app on your. Phone or tablet and follows when you're able to just search for the financial exchange and you can hear individual segments or full shows when ever you want them. Adam Shapiro from the Fox Business Network joins us now to talk about tax reform Adam welcome to the show. Right on good what are you hearing in terms of the corporate tax rate the Wall Street Journal reporting that they might raise it to 22. Yes okay so in very simple terms. The president the administration. Has said that would be a red line in the stand at 20%. A month and ago that they would Abacha how it. Here's the effects on the they only have about eighty billion dollars of wiggle room in this bill remember they've improved that Republicans approved adding one point five truly international. The way the village court right now we come in at one point 401 trillion in the match that does not a lot of money laughed. To give Ron Johnson from Wisconsin what he wants which is an increase. In that deduction for small corporations. Past thrilling come. But that's gonna go up as editor Baines who greeted them is good at a press release and check out what we wanted. And it's an save about sixty billion dollars that means is only twenty billion dollars laughed. Bird that senators. To say let's make a deal. As a whole lot so. Rate incorporate 22 gives them a big item but he tech alarm out but gives him a lot Mormon New Bern wiggle room begins to build of Susan Collins has kind of. Right it's a hundred billion for every point. So it's 200 billion that gives them to me that that must be what they need. Well it they did that but now and so we're waiting right now I'm talking dealers such at last night in GDP is gonna do it dynamic scoring on this thing. And I don't know under dynamic scoring that changes. Like even greater. But yes there hundred billion point in dote to what Billy would be huge amount of money with which they could. Placate Republicans in the house. Who wanted to restore some of deductions for state tax is com and but also in the senate restored the deduction for medical expenses ousted avid and it would cover that so that they can get that back in oh. That's what's going on right now they're trying to make you know beef Wellington at a swayed. Adam what's on state and local taxes salt new englanders anybody who. I was a home in New England does is concerned about this we do it with just vacation and not not just New England New Jersey. You know Washington the northeast right if they've got New York. My hazel Portland Maine absolute. Grandma hazel is his nervous about this and and I can tell you you don't look like I'm I nervous about it if I can't deduct those local taxes where are we on the at a back and all that. No they're not. The bottom line on this is it's been set up as a high tax state vs Le tax day. And a couple of things to keep in mind. And trying to get the 101000 dollar property tax. Deduction and with a limit of 101000 dollars and property tax that it would cap put Beckett that we'll probably. So but it but the real it is your your income like New York State yeah my brother pays New York State income tax and New York City income tax at that big chunk of change a lot of people. Right knee and if he can only not yet the that's that's. I don't think people but the layman voter I don't think they understand. They'll lose it but the lame bit so so here's the number about whom died. Roughly 25% of all tax filers item. To the argument is that look. At the end of the day even though you might be itemize it and a great many of those people actually I believe to be a wash or do better. He got it and get the increased and that the standard deduction. We're in the lower rate. And the lower however. And ticket is kind of like an articulate if they pass the bill but we can try to quit and until the numbers are set and we know you'll be able to crunch numbers. The problem. That the Republicans believe it is a big win for them where it could possibly. Put it on their face and is it about places like Kentucky in Utah you know. That where roughly 3032% of people itemized. You know these these are people who contribute to campaigns it's people who vote and and that could be a problem but. I think about a blue state Republicans. Right yeah you're California Republican or new York Republican. Mean Republican you're gonna be in hot water with your constituents. Well yeah on the flip side though I mean places like tale of New York Massachusetts. The debate that might have. And that and I just think I expect on that. Might be. Does that desire to look at the tax structure in this state that those states people like Chuck Schumer and New Yorkers saying what. New York is running just fine. And it is in net contributors and federal government even with the high tech is that the local. Whereas a place like Kansas or. Isn't it taker had to get far more than they put it did it at the debate that's going to continue even after. We're gonna lose this state and local tax patch on there right now is not yet restored insist that Republicans it's not going to be put back. That's a killer that is that's gonna hurt them. In speech next fall into when people figure this out. Perhaps as does so. If you do if your political calculus and are only looking at the 2000 making mid term and no it well because when you file your taxes in march of next year or April picture ID miner accurate at march when you file your tax. You're still going to be under the current law it up and feel the loss to the state local act a nineteen until 2019 will be after the turn and you act. There's 2001 does that mean that the Democrats but sent it screaming and yelling and if curious about those things going on here now. But in the back what they think quietly when I'm up on the tail end. Go ahead make Friday passed this bill watch what happens to you elect them. You know that's what that's what they're saying now but but what do. What if everything the administration in the Republicans. Are are telling us what happened with this legislation that. Mean jobs go to the economy gets off the new it also a new 5% wage increases. That's that's that's gonna make people feel good I mean people already feel pretty good look at the stock market. Yet except that contributed that gloom and tumor area and the mileage and a neighbor or whatever it is. Wage increase. The Federal Reserve can I get a cup than they're not betting on late and they're really concerned I'm in the minutes from the last meeting in October they just don't understand. Why wages are not going up but you heard in the testimony from Powell earlier this week. That. There is that the tightening in the labor market. Wages are not indicating a tightening in the labor. We we believe that any in the labor market has an effect is that the wage numbers don't Ellis. Do you really think if you're apple her mean the company at about two thing you know billions of dollars back to the United States. And money's not gonna go back weighted under the shareholder. That's a thought but I don't know again I keep hearing about companies that can't hire in and I'm guessing that's true Q you know elect electric boat in Connecticut there offered 21 dollars an hour for partnerships. That can anybody take Amazon EC billboards all over the country. Amazon hiring unskilled workers seventeen bucks an hour tonight that the jobs. If the other part of this is that by the Fed. It figured out. In the in the bay Cuba. Can I yesterday. The debate. There are always talking about the fact that in some districts have the twelve regional regions of the Federal Reserve. That there are labor shortages. And in some places and pleasure having the higher offer higher wages. But not reflected an edit the fact that and other places you know there there are having a labor shortage and out it annoys. Well it's gonna be next on Adam thank you very much for your time we appreciated our Adam Shapiro from the Fox Business Network you know chuck I went through. All the states in New England Connecticut Massachusetts New Hampshire Rhode Island Vermont and Maine yeah up to see which states in New England or donor states. And how this salt is going to impact taxpayers in the state up by average Saudi. You know when we come back from the break will walk you through that. I think it's important for people to understand there's a lot of good things in the tax code it's coming down there's a lot of things that are gonna impact you. Negatively as a relates to the loss of that state and local tax deduction I I think. It's it's it's understated. As to what the ramifications of that action will be. When we come back and look at it. Tax disparities. That and more from the financial exchange rate you know. Like there's some things. What was on Twitter. Show breaking business news is always burst right here on the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of rent a busy round leader banks all mine rent collection tool he ran automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more would see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot -- to learn more or call 7816 or 18691. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com security -- -- securities America incorporated member -- SIPC and advisory services -- printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in 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. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check many landlords are suggesting that tent and sign up for C -- upon the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period zero and does a free service if you have an account with leader bank and if not they'll simply cost you a small monthly -- cult leader bank right now and 8776917900. That's 8776917900. Or go to -- -- dot com for more information. Member FDIC it's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a pastor closing calling 8776917. B 900 that's 8776917. B 900 or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval. Leader bank a step ahead there are many benefits to early estate planning among them tipping your assets out of probate and protecting them from the nursing home. But did you know but you also might be able to eliminate your estate taxes every week on the legal exchange time musty educates his listeners by telling them how to protect their assets -- -- is an expert in elder -- taxation and -- partner with Cushing and Dolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's -- leads an experienced team at Cushing and -- which has been helping families like yours with their state claiming for more than thirty years call right now to get time to new guide called asset protection strategies at 8668485699. That's 8668485699. Lead time the team at Cushing in -- help your family the way they've helped so many others call 8668485699. Or you can download the guide right now from our website legal exchange showed dot com. That's a legal exchange showed John King. If you're real estate or property management company Unita banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and its innovative zero rent payment platform leader bank has a team of business bankers -- on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917900. Or email -- BO at leader bank dot com for more information member FDIC equal housing lender. Time now for mostly watch a look at the market's performance so far today until Darian jog right here on the financial exchange radio network. It's worthy of mentioning that the Dow has eclipsed 24000. Chuck the Dow over 240240771. Time ever. First time ever over 24000 the S&P also up about eleven points to 2636. The NASDAQ it's 6860. Just shy about 1% shy of an all time high on the NASDAQ at the moment. We got over 6900. On Friday. And so logged it and get close to a new record there as well but I mean look you've got stocks pretty much across the board. At or in a record terrorist may be good time to take a look at your 401K plan due tomorrow after the market closes and see you pursue your counsel were. Wanna talk more about tax reform and say you know I I think what the is being done in Washington on the corporate front it is. Progressing well and I and I like what's occurring there on the personal side I have misgivings know why. Well because I don't property. And I live in New England if you live in New England. Pretty good chance that this tax reform on a personal level is going to impact you in a negative fashion not everybody. But a lot of you who own property will be negatively impacted by this tax reform act. Let's go through the states and take a look at what the impact is struck of losing that state and local tax deduction. On the on an individual basis. Yeah and so what you see is that the New England states. Effectively three of them are net payers into the federal system and what that means is that there's three states that pay out more in taxes than they receive back OK because they're wealthy states because they have large populations and so they effectively subsidize some of these smaller and CoreStates. The three states that are net payers are Connecticut. Massachusetts. In New Hampshire. If your Connecticut resident on average. You pay out 2700 dollars that leaves the state of Connecticut Maine goes so moral never comes back never gets spent easily as Connecticut he goes to a Porsche statement Alabama goes to Montana goes to Mississippi goes to all those other states. In Massachusetts. The average taxpayers. Pays 2300 dollars into the federal system that never comes back. In New Hampshire the average tax Payer pays about a thousand dollars into the federal system that never comes back to the state of New Hampshire. Three states in a New England are net receivers of federal funds the state to Rhode Island Vermont. And Maine mean getting a lot of money maimed because it's overall a good because it's so spread out he's an old its its older and so especially when you talk about medical expenses that's a huge factor here because of a lot of these rural hospitals sure and world nursing homes and so forth. Mean on average receives about 4800 dollars per person in that federal money. Vermont receives about 2700. Rhode Island receives about 2100. OK if these state and local tax deductions go away. This has an impact of increasing the amount that New England states are going to be pain right into the federal system how much in Connecticut. An additional 630 dollars a person is Italy fed state. Of federal income of federally too taxing only the state in Massachusetts an additional 500 dollars a person is gonna leave the state in New Hampshire. 264. Rhode Island 355. Vermont 259 from Maine to 33 every one of these states is going to end up being a net loser as the result. Of this tax. Has sort of been trying to convey and I I seem to have struggled. In in my idea explanation but I can tell you. The tax reform act eight on the corporate side it's a positive it's going to be a positive for workers across country. On the personal side. At a time I've got some misgivings as it relates to that plan. I'd General Motors and soups robot. Are battling it out in San Francisco General Motors unveiling their driver was car today in the air taken a big risk. There they've invited investment analysts to drive around in these vehicles. It's it's a big risk but I mean. And I don't think it's huge no Asif tested that's the testament to look at if something goes wrong. It is not the end of the world they don't stop production like they're gonna they're gonna figure out and work through these things. But these companies you know showing that hey we are ramping up. These efforts and you know you know I've been talking to and I think we first started talking about these maybe about two years ago probably Bakken 2015 we said well technology is about five years away and and when he gets here to get here. You know were heading into 2018 now. You're gonna see some of these vehicles on the road in the next year gets it is now were at the point where in one to three years. You're going to start seeing these on a regular basis they're not going to be there the majority of vehicles but you will start seeing these on a regular basis. In and around cities here. Seed in the first pressures Sudan is in Arizona because Arizona's already got a law on the books that allows for them up and that that's the early adopters and it makes sense too because the roads are wide it's a modern city bridge city it's easy for them to get around. The last place you'll see in Boston right you like think about trying deacon program when these things navigate the north and right now it. The it it it's it's coming. In its not something where we're looking at now and saying oh it's going to be several years away in also explains the increase in General Motors stock price. If you look at GM as a company are fueled shares in an odd folks. But you know it's gone from like thirty dollars to 43 dollars and depth in in short order gas is somebody new. About this technology in this is off from that company member they bought that company crews automation. Yet it they bought them a couple years back and it appears to be paying off for GM it still remains to be seen exactly how well the technology works and you know what they're able to do with that but they seem to be making an awful lot of progress there and these vehicles are coming sooner rather than later in the first place that you will see them in terms of your ability to use them from whom will be with a lot of these ride sharing services because will be look if you want a driver to take you from Boston to Worcester. Okay it's gonna be seventy dollars but if you want a driver Lewis vehicle to take you there it's going to be 35. That is C is a big part of the cost is human being yeah it's huge. We'll see we will see they don't forget that during the month of November only in this is the last day of November it's November 30. You can call the Armstrong advisory group and receive the seven signs in the stock market correction if he'd like to copy of this guy you can call them told free. 803934001. War if you wanna copy of the guide right now beaten or web site Armstrong advisory group dot com Armstrong. Advisory group dot com or call them pull free at 803934. Zeros or one. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. A start up in Cambridge by the way. Is looking to reverse type one diabetes in they've just raised a 114 million dollars on top of I think forty or fifty million that the minority race. Yen type one diabetes is a typically also referred to as juvenile diabetes or insulin dependent diabetes. It is less common than type two which is typically more caused by. Pour eating habits the type one diabetes still accounts for about 10%. Of all people with diabetes in this company just raised that a 114 million dollars here. And so what they are trying to do is is figure out a way. To allow the body to start producing enough insulin again so that in diabetes is effectively the order but first who went in implanted chip of some soaring. They're they're talking about chips as well as some some new blood cells that they can put in UN and hopefully reprogram the cells in order. To produce the insulin that you have you know new beta cells in your pancreas that are able to do stupid amazing technology it's I mean it's it's it's pretty mind blowing in terms of what they're able to do here. You know it's it still has. Before any type of clinical trial so this is not far along in the process so this is not something that you're going to see in the next year to this is something that. You know. At the at the nearest is probably somewhere between six need years away and it could be longer than that. But the fact we're even talking about doing this right now. Is is pretty impressive fear and so raising 114 million dollars again this company based out of Cambridge area. And they've they've raised some money for Maas a pretty pretty big names at the marketplace including Novartis Medtronic rate and in a whole bunch of venture capital. Phones and the Verity donut truck of it. As health care changes insurers hospitals and drug stores. Are teaming up what does that mean to use the consumer re Dave Wilson from the New York Times will join us next to talk about it from the financial exchange radio network. 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. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits did your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Are you financial advisor who lacks formal succession plan you're not alone according to investment news 43% of financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you work hard but now it's time to find a successor the armed drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities are for securities America incorporated members and SIPC and advisory services are to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Hi everybody it's very are. Strong and potluck ski from the law firm Cushing in dole and we're talking today. About the state and asset protection strategies. That can help reduce or eliminate your estate taxes. Todd is it true that a married couple living in new wing and with two million dollars and assets pays a voluntary. Gift tax. A 100000. Dollars in the government if they don't have trusts in place I'd certainly can't be certainly depends on what state and to be you know I'll let us say Calif if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars. You can pass that amount. And state tax free to anybody you want. In any state. But a lot of people say oh we have that kind of you know but. What you forget about is the states. A state tax system they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of Todd brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guy DePaul number 8668485699. Or visit his website at legal exchange showed dot com net. Legal exchange showed dot com or call poll free. 8668485699. The financial exchange for Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten disk is the financial exchange radio network. The health care spaces going through a number of changes right now including some on usual and unexpected consolidation. And joining us now to talk a little bit about that is read able since the New York Times and read thank you coming on those. Rate would start first what what exactly just to recap is going on between Aetna and CBS health where we stand at this. Come at this point it's still rumor and innuendo com but Aetna which is within our nation's largest health insurance. Com is in talks. Our combined with you via PayPal which is that large pharmacy benefits manager hand. Is known to everyone. As the owner of drugstore chain. What are the biggest potential benefits of this merger first for the two companies let's look on that perspective. I think it's a benefit. With the two companies because it allowed them to increased their size without having. It's basically a way of of merging to increase ounce size and potential market. As you know the large insurers trying to merge with each other. And were blocked by. Federal antitrust officials. And so now we're looking at other combination. And theoretically the idea is that they can go to employer may hate you can get everything I hear you get your insurance. You can get your pharmacy benefits manager. Which we do in the insurance for the prescription drugs. And by the way your folks can go to war retail. Clinic. It would seem an army like it would seem to me that one of the benefits then facing outward would be. That because of some of these synergies in and streamlining the process they'd be able to also lower cost for people who were covered or who utilize all these services. And and certainly that's one of the arguments I mean count them which is creating its own pharmacy benefit. Matters says that it contains billions of dollars and not let consumers I think what. Of the consumer advocates question though. Well there are. On the quality of hard. To see what happens with drug prices into the pharmacy benefit managers and they worried it would be sure and the part that benefit manager on the same side. Out there will be even left hand. What what examples we have that are out there are already of companies that operate in this way is is there any compare herbal that we do have. Again we do you have insurers that have received benefit managers and have our range of services and the real model. At least in my health insurers UnitedHealth Group. They even bought the chain of outpatient surgery centers. Earlier this year that they have a pharmacy benefit managers they have lots of consulting. Arms all through. They're often unit. One of the concerns that I have is let's say that on someone who is covered under Aetna. Would Aetna force me to go to CBS as opposed to Walgreens Rite Aid or would they offer preferential pricing if I stayed within the system. I suspect that that would mean the idea it's very hard now before something happened. Com. But the theory would be that you would be. In you know you can't stop incentives either. You really have to go to one of the he via. Stores per year pharmacy or. You say you might. Pay lower prices if you do that. How much of this movers that this rumored move. Pass to do with the potential encroachment of analysts on into the space. It has a lot to do without I think a lot of the players com are looking around wondering what's gonna happen and we it. You know Annika loafers like Amazon into the pharmacy spades the war are quite frankly on the podium you know. Silicon. Valley start up in in LA helped and and they're trying to arrange. Themselves that way that they can back to believe. Looking at you know other companies in this space is there a chance that anyone you know looks at Walgreens or we just hear rumors about CBS at this point. At this point or. Only during the president's media. But it. I think anything can happen I mean I think there's there's discussions as it would at Baldwin who want a partner with that in mind. They still have Express Scripts. Panning out there you also have to you know a number of insurers and that that math camp Humana. Who had a and that. Couldn't merge instead they're going to be looking for you know potential partners. And again a lot of insurers are are sort of doing joint ventures we didn't. Some of that big hospital group. As a way of trying to sort of do something different. Good read thank you very much of the time we appreciate it. Absolutely that is read able sin from the New York Times talking about these these potential vertical mergers in the other health insurance and pharmacies space is a save me money. It as a consumer I'd like benefit at all. We have sends a sales and we have seen cases where it has if Kaiser Permanente runs a similar model to this UnitedHealth is a little bit in some pieces while. And they have been able to shows and significant savings when they do in agreed vertically in this fashion just because. You still wanna make a profit. But they always do. You know it and that's the nature of the beast with the way the American health care system is set up at this point is it is engineered to produce profits it's not a it's not engineered to necessarily produce the best standard of care at the lowest cost. So. You know with. With this type of merger and inherently opposed to something like this I would like to see. Still more insurance companies available and just that think additional competition is always a benefits as a breakdown in the state barriers. No I don't think that has any impact now I think do is how how are you gonna build a network in Rhode Island if your company from California like how many Rhode Island. Policies you really gonna sell well again it it just doesn't matter in a lot of cases I would just like to see the health insurance companies broken out. And I think we need more you know we see he might think we've gotten to the point where now. We're not allowing additional mergers in the health insurance space because we've said it's to consolidate. I would say look instead of you know for big companies let's go back eater tan and give give people more options and more choice. That's what I'd rather see there I think with all this consolidation it's taken a lot of competition out of the market in this would be further consolidation theoretically rated CBS owned a bit it's true vertical you know it's it's it's not really it's not reducing a year in number of choices no. You know it's for a from my perspective I would rather seen and I said this in a number of industries are sitting in Telecom and send it via teleconference over there. I would love to see it renewed anti trust was simply because I don't think consumers have enough choice today with all the consolidation that has happened. In some of these industries and Etsy and airlines. You know things that we've gone in the last ten years the about the airlines that have been taken out US airlines is gone northwest has gone. You know there's a whole host of dumb that are just kind of being merged in. And the result if you tried to book any flights for the next six months. How to price I do like to be booked on an American Airlines flights Christmas DC happens there where they forgot scheduled files for the Christmas Day flights thought they had a problem there's software program. Didn't you like missile like a bunch of flights and they're like 151000 flight that bill pilot written in scheduled flight pilots for their flights for Christmas for fifteen. Thousand flight ABC that is driving. Well you know what they've had to do is they went back and now the unions that can be because they went back and they said look. We made a big mistake it in vehicle right it would programming mistake looks up. And this is no one of the largest airline forgot that we had planes my about. Nobody the it was a programming here but they went back and they said the pilots look we'll pay you a 150%. Of your normal weight so if you're normal wage was and maybe a pilot makes quarter million bucks a year. If you work that you know the those eleven days around the Christmas holiday will pay 30000 bucks a month the center of the normal 20000. The union is mad at them because they didn't go through the union to disk dude to two community where science of course there are. I wonder how many of the pilots will. Take advantage of that opportune I would write to think they give your I jump on it he said. Well with a lot of them may have made and we plants are teammates at while honey we're gonna go to Europe for the week there you know like it that's the the I don't know what what they're gonna do but they've got one heck of a prom it's also one of their most profitable times of year they make. A lot of their money holidays or women make their way naming all and when you pay for plane tickets yup Christmas and Thanksgiving and New Year's highly paid through the nose. The Dow up a 13624077. Nasdaq's up 35. And the S&P 500 is up twelve point. It's very shocked and Tucker from the financial exchange radian. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many had no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both our ace and transactional oriented firms with a solid stable of young advisors who will put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917900. Workers at leader bank dot com. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. -- DNC equal housing -- and -- number 449250. Subject -- credit approval -- -- a step -- there are many benefits -- early estate planning among them -- your assets out of -- and protecting them from the nursing home but did you know but you also might be able to eliminate your estate taxes every week on the legal exchange talk amongst -- educates his listeners by telling them how to protect their assets -- -- is an expert -- elder -- taxation and -- partner with -- and -- is a brand new -- doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's -- leads an experienced team at -- in -- which has been helping families like -- with their state planning for more than thirty years call right now to get -- to new guide called asset protection strategies at 8668485699. That's 8668485699. -- -- -- team at -- -- -- help your family the way they've helped so many others -- 668485699. Or you can download the -- right now from our website -- latest guide from the Armstrong advisory -- the seven signs -- -- stock market correction. Mike what are the concerns that people have out there right now is that geopolitical situation can you talk a little bit about whether or not this is something people should be concerned about. Well I mean. Always be concerned about it especially you know it it seems that we've got rising tensions going on in North Korea. I don't like forcing out of Russian China but the important thing to just keeping your back your mind. Is we always have big geopolitical tensions whether you know whether either gulf war over the war in Iraq and generally speaking the market is pretty resilient that doesn't mean that it won't reacts to some unexpected events. But don't you know don't base your entire investment thesis just know what's going on geopolitical scenario with these situations. The important thing isn't necessarily to react after they happen but to be prepared in advance absolutely and so you know as that goes. Make sure you reviewing the objectives are sort of your portfolio you know is this a retirement portfolio that you know can be using for twenty years. Well so you really shouldn't care about the day to day geopolitical events going on but hey if you use in this portfolio to may be. Fund your kids' college or buy your next home in the next three years and yet you need to have a much different philosophy and much different investment. Objective then if you're looking at a twenty year investment time horizon. Folks the guy is titled the seven signs of a stock market correction it is available for free from the Armstrong advisory group. And all you have to do is call 800. 3934001. To get your free guide or visit our strong advisory group dot com and you can download. 803934001. Or available for free at Armstrong advisory group dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back. A step ahead 2017 has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you be ready for one hi this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio let's work to keep it call 803934001. We can download got right now and Armstrong advisory group dot. Tom securities offered to securities America incorporated member finreg SIPC and advisory services are for -- securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank they're Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting and processing teams 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 leader 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 on to leader bank dot com get all the information about this great offer and sign up today before the rates -- 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 -- leader bank dot com -- bank a step ahead. And. This is the financial exchange with Barry Armstrong and sharks are. You're exclusive look at business and financial news affecting your day your city your world stage. Informed and today about economic and market trends plus give breaking business news every day. And now the financial exchange with the query Armstrong and chunks. We are in record territory. On the stock market at least the Dow is the Dow's up a 174. Points. At 24114. And get a mention that corner to get just sought trading at about 9300 bucks. Yep bitcoin right now obviously it's been a major story the last couple days with they first 30% rise in a few days now a 20% dip or right around 9450. At the moment we've been down as low as about 9000 today and but the Dow. Continuing to push into record territory another little bit of a move upward in the last couple minutes as John McCain has announced. That he can support the the legislation currently pending in the senate and for tax reform is so that removes a potential hurdle there. Still some questions here but this market is very much optimistic at the moment Dallas a 24120. The S&P. 2643. NASDAQ 6872. When and continuing to move up ports. It's very truck everybody and you know we didn't touch that Matt allow our story yesterday I want to let the dust settled little bit. But as you know he was fired by NBC which is owned by Comcast. And turns out that show that The Today Show for NBC generates about 500 million bucks a year in advertising disadvantaged. It is it is just a eight powerhouse. I have so it'll watch on not you know and in position where I have that much free time on in the mornings to be able to. Butts. What times and on Tucker. Thing comes emirates 7 AM oh Chalmers I was gonna say nine but maybe. Paula I don't. I don't nothing about these shows yet and its staff was 7 am it's seven him. So yeah I mean it it's an advertising powerhouse obviously. New generating about a half billion dollars a year. It is the most watched morning program. In the United States among adults 25 to 54. And it's so MA good morning America's got the total viewer operate that's he's much older though the and so you know this year it's it's a major question for. NBC as far as him. What do they do in order to replace Jay-Z Intel. Not serious are you now I am that's the rumor that's the numbers she's the odds on favorite to take the game. C. On a bigger and better that so they've already got her and cut the standard formula for these morning shows are a male. In a female so anything that is gonna go fall female. And I'm not room. I just question you know Kelly hasn't exactly at the smoothest run to start her tenure raising good points and I just don't you know. You located next I wonder she's too bloated in named to come into that role at this point. And if she would distract from the overall feel of the show to begin she comes from a political background she's a phenomenal political reporter nothing that she struggles to distance yourself from. She's she's tried in and we reported better ratings were abysmal. And I am and I just I don't know if she's built for that kind of role neo. Hey go out and prove me wrong I give you can do a great but. Like she did she was a great political reporter I don't know if she's good just in China that do for around morning where blocker I don't think that's an issue is a lot of grew from around there is yes terrorists who there is some but they do Fiona do report about serious journalist. Items where F and meg and Kelly could feel the effect that it's too fee clay that's on all who free worded may Michael Strahan and. You just left one GODs with Jim and Jim idea -- too bad they didn't keep him around is he would have been able to fill in for an hour. Was enemies we see with NBC nightly left didn't you leave one and go to the other you know he was with. Of Regis and Kelly show girl which was ABC I think. Yeah I have. Know ideally. It's it's so hard to keep track of lake who loans which like I just yet he was on. Live with Regis and Kelly which was. ABC yes ABC there's so. I don't know who comes into law to allow which Emmitt you're an automatic name and I I think it's going to be and how many bigger names are there immediately now. Rightly that there's not many people on that level twenty million bucks a year to earn 25 as I 125 via. I've been Wall Street Journal's reporting that major bonuses. But you know like the women are coming out of the woodwork to date nears there's like multiple reports not just one incident. Does it it's not it's not a good look at all you know especially. On Newsom as some of the statements that have come out saying you know NBC worked for years to cover this up so definitely it's and that's weary he understood and a lot of hot water it's not and you covered this up. Knowing it and it's tough to fire star. You know it's really topped the fires start. You you look at this now and in between a lot of the major media companies won't. You know you'll get some of the names that have Charlie Rose. You've got Charlie Rose and you've got you know fox with the arrival Riley now you've got now flatly no one. It's just everywhere now. You know he the back in the eighties is way in sexual harassment. Became real workplace issues and the reason it became an issue. Was there a lot there was a lot of litigation. And it it started to cost companies a lot of money so I remember and those of you who were working in the eighties you remembers well. Going to workplace forums where you were educated. On sexual harassment it was part of your corporate training. And and that's gone on now for over thirty years. So the these workers can't say you know map are it tail light never knew wars you know who's different he's been there for twenty years he's an old. This is you're not allowed to sexually grass. The the women working. Just Tuesday Kennedy these guys get so powerful and so popular and it's so much money. That they just lose track of what their I think they just get. To pull themselves just start going off and do whatever they want they think their above the law you know and an in look it's not just in beat UC with politicians is like the one athletes who won I always remember is Eliot Spitzer where he was paying for prostitutes wire transfers because he was so full of himself and thought he couldn't get caught. If he ever talk to one of the female reporters. Her professional sports. I had I personally yes. Ask them about their interactions. With football players that Sonia players the ball players hockey it's it's horrifying. Because these guys these men male athletes are so used to having women. Thrown at the deployment everything they've wanted since they were twelve you know they've never had anyone say no to them and says there just sit there and they do whatever they want it and they say yeah. Is an owner that's next the sports industry because you've seen Hollywood right now on news and wonder if these athletes are gonna start here exposed. Oh I think the the in sports the one difference is athletes typically just because how sports are near. Pretty much there are many women in professional sports at this point. There's not a whole lot of unity of electrical workers so there are many of those types of situations. I wouldn't be supreme leader sports report those truck right says that. You know Vince Wilfork or some professional athletes at the reporters via all that absolutely that's where. Well there's one years ago with one of the patriots players Ben Coates. He had a run in with one of these guys can ask you to. This tool he would I don't think coats. I'll I'd know I mean like I know who we talking about your don't know the situation there's an incident with a reporter bag I think that's just where. That'll be the next. Shoot draw ended like this this stuff is everywhere it doesn't discriminate between industries it is it's people who tend to end up and powerful positions. Can you do politicians Nike you see this across. Multiple industries it's it's not unique to any one industry it's. It's just how you people are wired in a lot of cases. Where they have you know certain traits that make them successful on the get into power in the same traits and oftentimes make an awful human beings and personal constantly look at these guys to bill Riley was superstar and he is not re emerged as. No and I was what about a year ago now that has so I I would say that you know Matt hours prospects going forward pretty dim would you know what's. Ironic about this whole thing is if you go back and watch the interview with Matt Lauer bill Laura. Matt Lauer interviewing Bill O'Reilly last year mobile sexual harassment thing it's got a creepy you look back and really. And insist a year ago around. Hole and it was was it after Riley a bust it was like right around the time he was fired hole for sexual harassment Mal hours and every on them. Wolf. I mean he might of I all seen that yet then must've thought so himself on next. I would imagine you do that interview in you know your guilt or use but he was like going after Bill O'Reilly issues like oh OK and and bill Riley said the little chuckle tolerance for aaron's career years Jeff. At a beyond his podcast yeah they coming up will be joined by. And his media empire what's gonna look like going forward that is next from the funny to exchange radio and. Work even without health care or tax reform the markets are surging get the latest info on the sectors that are winning and those that aren't we right here with Berrian chuck on the financial exchange radio network. Don't -- the party of -- season it's the fifteenth annual -- celebration for kids and it takes place at the seaport world trade center on Saturday December 2 starting at 6 PM enjoyed tastings from seven. WWW -- he -- dot -- to learn more -- -- rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months -- free -- landlords visit WWW -- he -- -- meant to learn more or call 7816418691. And he spent the last thirty year forty years building your financial planning business he worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do. Have you done about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition we are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security suffered securities America incorporated member and SIPC and advisory service is a securities America advisors incorporated Barry -- are represented -- Armstrong advisory group -- securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in east savings account providing free online banking -- -- one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now -- leader bank dot com leader bank a step ahead. That's 8668485699. Let Tom the team at Cushing in Dolan help your family the way they've helped so many others colleague 668485699. Or you can download the guide right now from our website legal exchange showed dot com that's a legal exchange showed dot com. Vote on our daily poll question. Had financial exchange showed John come up while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. This segment of the financial exchanges brought to you by leader bank if you're looking to diversify your portfolio. Precious metals are Smart investment gold and silver bullion coins are now available at all leader bank locations call 877. 6917900. Or log on to leader bank dot com for more information member FDIC. Gary Epstein from the economist joins us now can talk about. The potential plans it at ox in and why they're considering splitting up their media empire got to thank you for joining us. Beyond doubt he can you talk a little bit about the the parts of the business at boxes looking to sell off at this point. Right so they wanna sell off there studio. Cable networks. They go according to reports that apparently the case. They're stake in sky is probably on the block as well. And they're international. Cable. So quite a but a bit in the business so it was a what are they actually keeping after they sell. While the Cuban apart that I think they think will not be able to be competitive when it. Going for which is those kind of live oriented at that they have Fox News Channel to their most profitable. You know a piece by far. The broadcast network and in talks broadcast network Fox Business news that it talk broadcast network would become even more sports oriented. On network. And so they're effectively you looking at selling this June that the rumored us sooners have been I believe either Disney. Comcast and Verizon is that correct. That's right. Probably a couple of other players and as well but produce studio a part in the cable network. Cable networks Disney makes a lot of sense of the buyer. You know fox has among many other things that has some of the marvel franchises that Disney doesn't currently have you know XX men fantastic four. To be reuniting. The marvel universe. So that makes a lot of sense to me also watching Perry. Direct consumer you know kind of Netflix like product into doubt in nineteen. And a one simple cup with as much you know intellectual property. And entertain the masses as they can so really makes sense to. To get not just studio assets and also you know effects which does an excellent cable network. On fox and under fox so there's there's a lot of reasons for duty to be interest. We're I think that's one of the things that strikes me on this is that Disney and fox almost appear removing an opposite directions Disney's cable networks like ESPN are struggling right now. They're building up these you know movie franchises and so forth but fox is kind of taking the opposite track it seems to be a pretty good match when you look at what they're trying to do. It is a good match ended I think as a rare case where the seller and buyer that there's that it Nicklaus and you know kind of opposite to that. Eighteen tee Time Warner deal where I think eighteen to use. It's paying a lot of credit for Time Warner travelers are Smart to sell out its first many of the same cycle in this fox you know declining cable partnership in the US. Declining value that human assets we don't have distribution. You know peck compact competition with Netflix and Amazon all those are good reasons for. Talks to sell now. Apostle regulatory climate isn't getting any any nicer for trying to build a bigger empire right. Where is selling off in pieces you know maybe studios Disney. The piece of sky to Comcast Verizon would be easier to do on a regulatory point. And also makes sense that he's template that was just saying the print them scale matters if you wanna try to compete with Netflix Amazon. You know it's already a bit late you know that would at a 109 million subscribers. Is it starting from zero with a new product development team. But I think Disney has the big franchises that can get attention globally and will be adding to that by edited on Fox's. Got you mention that this allows Disney to scale up if they were to become the buyer of a lot of these assets. But it leaves fox as a much smaller company where we're they go to grow within premieres are just building out their existing channels and they have any additional plans for organic growth. Well we don't know that part. What they plan to do I would not bet against the Murdoch's trying to build rebuild. They're empire did differently was it that way and that seems to BB the other murder definitely way. And they'll have a lot of money and can't after sale. Dignity gas that could go for as much as fifty billion dollars or more. The they'll still have you know by some estimates occur company worked up 45 billion left over. You know of the lives that acts as they have especially Fox News a really valuable. As they decide. The filled alive oriented business or you know if typical sort of thing to do with the money to decide to buy up. Local stations in the US because he's cute loosened up ownership rule would be pretty you do that. Maybe go up against Sinclair which is doing during that TV stations in the US so and that is one possibility you know courted and on the cash for years and wait for. You know the next opportunity that looks too easy for them. This this deal doesn't have anything to do with the other publishing businesses that Murdoch owned correct News Corp. is a separate entity. That's right equipment separate entity and there's some possibility that could use the cash from the sale. Two to combine the unity can take and take some credit. I'd I don't know that that would be the logical thing to do. The newspaper assets or certain other business and secular decline. As we know. That's so I'm not I think they are I would bet on them keeping them separate that we we have no idea what they're what they're thinking about what they would do post. Post sale. With the AT&T and Time Warner deal obviously that has come under regulatory scrutiny in the last couple weeks is there any chance that if fox is trying to sell off some of these assets it encounter similar scrutiny. Well no I I mean I don't think so because I think selling off let's say just the entertainment assets to. To Disney. Uh oh would not be as big of a transaction would be. It would be marrying distribution and content of the vertical mergers that that the Justice Department is expressing concerns with right now. Although or bolivars in the past have attracted. Mean they've but it is just as they implicated just as much in terms of antitrust issues. There's been some signals that this wouldn't be would be a problem combining does in talks. I do think that the market conditions makes sense for. Per consolidation in Hollywood and there's security hearing some nervous talking Hollywood. About there being too much efficiency and it'll be generated by this is kind of merger in other words pure movies will be made by a combined is in talks. But in a box office host has struggled there's declining ticket sales per capita whisper in about fifteen years now. And a although in a ticket prices go up into the the overall box office has been relatively strong that the the number tickets sold people going to movies. You know and multiple times as much smaller companies to be so mixed sent to consult. Are good Gotti thank you very much for the time we appreciate it. Thank you. -- Epstein from the economist talking about Fox's plans to spin off some of their major entertainment franchises you know us fascinated by his comments as a relates to the Wall Street Journal. And this is an iconic newspaper it's one of those papers you subscribe to in your business school and you have a lead guy. And it's one of the few papers truck that does not suffer. A subscriber decline in this environment which is amazing when you think about what's happened with newspaper subscriptions over the years they've still gone down a little bit I believe. Now they're gone I think in the last decade they've gone from somewhere in the ballpark. Receive bike and pulled up here just to lie to take a look at this. But I believe they've they've been impacted but not nearly as much as your your other newspapers your 100% right now and yet you look at the the other newspapers that Wall Street Journal like I don't get the physical paper anymore I don't know anybody who does. But I still get the digital paper and I read seven days a week yet is still there circulation is about 2.2. Million. And there for years in that ballpark. Expensive new Wall Street Journal's most expensive. Newspaper that I subscribe and it is the most subscribed to lie US based newspapers well more than the times times has about one point eight million subscribers. USA today is about one point six million probably mostly hotels on the when you to actually gets used today it at home. Good point from their Los Angeles Times in San Jose Mercury news New York Daily News New York Post Washington Post Chicago sun times in Denver Post round out the top ten while. Soon noticed none of the Boston newspapers and none of the Boston newspapers are actually the globe is in not 25 place about 245000. Subscribers so about a tenth of the size the Wall Street Journal and what is Boston numbered top ten market. In terms US media markets yeah nation's top ten think. But just outside there I think it is yet New York's number one was actually this by TV stations and panning away to look now yeah Boston is generally. But see in this one Phoenix's relievers at Boston's number nine Dow's up a 174. Points when we come back we're talking about ESPN and more layoffs. Next from the financial exchange for a unit. The financial exchange is alive on FaceBook so make sure to like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. When 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 that 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 not guaranteed by the bank and may go down in value leader bank. A step ahead 2017 has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful correction I want you to be ready for one I this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. X 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio that's worked to keep it call 803934001. You can download -- right now and Armstrong advisory group dot com. Securities are for two securities America incorporated members Jenrette SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do. Every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients in all six New England states and opposites throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to secure America incorporated member and SIPC and advisory service is offered securities America advisors incorporated burials are represented their arms or advisory group and securities America companies are. Unaffiliated this is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of rent day with zero leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more would you rent your payments breach unit to receive regularly on the same day every month tenants pay nothing in the first six months or three coral landlords visit WWW dogs he rent dot meant to learn more or call 7816 or 18691. Hi everybody it's very Armstrong and potluck ski from the law firm Cushing in dole and we're talking today. About that state and asset protection strategies. That can help reduce or eliminate your estate taxes. Todd is it true that a married couple living in new wing and with two million dollars in assets pays a voluntary. Give tax. A 100000. Dollars to the government they don't have trusts in place I'd certainly can't be certainly depends on which state and to be you know I'll let him say Calif if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars you can pass that amount. And state tax free to anybody you'll be in any state. But a lot of people say oh we have that kind of you know but. What you forget about is the states. A state tax system rate they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire is the only one in the in New England that doesn't have a separate state estate tax. And so the goal is. By doing basic estate planning and using trusts you can double whatever that's data exemption amount is thereby hopefully eliminating them. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of pods brand new guide it's called reducing and eliminating the state taxes. You can call and received guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange. Toll free 866. 8485699. We Health Care Reform seemingly dead for 2017. Trump the said the push hard for tax reform Barry and chuck have the latest on how any changes might affect your portfolio for your financial strategies only here on the financial exchange radio network. Some of you may be concerned about the avoidance of a state taxes and the protection of your assets from the nursing home joining us from law firm of Cushing a little bit odd lots Kiefer conversation. On that very topic. Todd welcome to the show. Thank you are good good so tied you know during the month of November you made his guide available to our listeners and we thank you for that. About common mistakes. That are maybe. As a relates to trust documents and state planning. Even your experience in you've been doing this for twenty years or more with what is the most common mistake that people me when they're doing their state. You know that they're putting together the estate plan and they put together trust and and you know you need to trust that to avoid that. And then late they spend the time and money and they don't fund you know they don't put any in the air but in the truck even if they didn't trust. They don't put any app that bent. And I could actually wait. The estate planning document stated that the common mistake. And then they end up you know leaving everything everything ends up going to that spouse. And the taxes are paid on the second that. Todd brown and let me let me interrupt you there whip what is entailed. In putting let's do is use a a bank account as an example let's say I have a 100000 dollars in the CD at my local bank. And I wanna put that in the trust mechanically. Is a senior citizen hardly do. You know two things one the lawyer should help it okayed but that your answer for everybody else is that. You basically. Go to the back and Newton and get performed as I wanna open a bank account on certain label on the spot the I'm sure it and all you do you put on the orbit can say what that means that the account. You put the name of the trust people like that pot but he's family. Or whatever your name. And they want to cut the name which is right on the front page. And I wanna tax ID number. Echoes of the trust that your attorney would article bite you. And that's it that's it. That's it no no practice no spelling and even with a brokerage account that it would would figure out that don't have the fact. Okay and then a house let's say did you use the client has. A home. You do have a home in Worcester and then they have a cottage on the shore in Connecticut. Would they do arrows. Yeah very and that is where the lawyer had helped get into this one on your own the lawyer will prepare and eat. It's basically a quick clean B did that you don't mom and dad transfer the property to. There Stanley truck and got but it's just a simple quick claim being the employer provides it. And you sign it and then they lawyer put it on record at the registry. Very good Todd thank you very much for your time we sure appreciate it. That's Todd lots key and you know the number one mistake people make as it relates to their state plan. Is not entitling the assets in the name of the trust me. During the month of November taught has created a guidance available to you free of charge and give your phone number you can call. And this is the last day of the month so it's a last week and call and received guide it's 8668485699. That is the phone number that you would call. To get the top mistakes that people are making as a relates to their state plan. 8668485699. Now I know many of you just want to guide right now you don't wanna have to make a phone call you can get it. What do you do when you go to legal exchange showed dot com it's legal exchange show dot com and download the guide free of charge. You don't. Truck I was somewhat surprised to hear that ESPN is laying off yet another 150. Employees because. We've covered reports I believe. Of two other rounds of layoffs that have occurred. In the last years. Yet we back in April they cut about a hundred employees including a number of bomb major on air personalities they laid off 300 workers about two years ago. And continuing to downsize here most of v.s these. People who are going to be leaving are primarily on the back end technology side so likely not too many on air personalities. Leaving here. But he has been and continues to face a lot of pressure because a court cutting you know losing subscribers. What you can get rid of talent only want the fact is their biggest expenses are the rights for all of these are sports franchises. And until those cost change you can fire for when you want but it's it's kind of like shuffling the deck chairs on the Titanic and they were losing subscribers at. What green 300000 a few 100000 month. That's it that that's like. It curler and ice cubes it'll bought it's it's our borders any year his is what they're declining. They still have 8000 employees. I still try company yeah. You know and it and look for for all of the talk about how ESPN is struggling and it still is a very profitable company if they did they're still making money hand over fist is just. OK we used to be the flagship of Disney uses it it was the growth engine of Disney pretty much from the mid ninety's through. Caught when he 20122013. Somewhere when a ball or cutting take off for 22013 that's when it really started in earnest now and it's it seemed. Cord cutting amazingly still seems to be accelerating. Well it is because the offerings are getting better in that they're getting better at this point now at a certain point I do think that some of the attractiveness is sparse cost. Might go wakes up started to see some of the services raising prices and so forth. And at a certain point maybe people say. Jim don't really need this what's the point one minutes go back to cable so. I think there's going to be a balance I don't think it's gonna be something where ever one cuts the court eventually because I think a lot of people. It's it's familiar it's stable it's it's still what they do it's kind of like and there are some people who never got cable between the ages kept you know the rabbit ears on their TV and said OK great you know I can watch ABC CBS and NBC and called today. Verizon is going to be introducing a new technology that is gonna give the cable companies fits. Because it'll be offering home broadband over wireless network and with the way this works. Is you have an antenna. In your house has got to be near a window facing the street yup and then there'll be at the laser shot into that antenna. And you'll be able to get your Wi-Fi. Via that antenna as opposed to now. It's all wired so when you have Internet service in your house you may have Wi-Fi through your house. But you've got that cable coming raiding your house and you're getting that typically we could you buy your from Comcast Verizon. Verizon yeah I've got mine for from from Verizon as well but it's a it's a wire that comes into the house can imagine the cost savings if there has to run that wiring here again. And in the wireless move is going to be kind of the dominant one over the next decade who Verizon is the only company that's testing these this is going to become the standard. Over the next ten years or so. I do think one of these nice about because the infrastructure. Investment is significantly lessen the potentially opens a whole lot more competition. You know I have this service in one of my investment properties in one of the challenges when it is it's not as fast. It's it's morsel of error is slower Internet service that you're not on the five G network. No that's that's what this is this is that next generation network in the speeds and ability of these. Wireless networks are going to be far beyond anything that you have today is a the other thing they couldn't didn't get in the way of this is if if a tree is in the way. Is it distorts your signal yet it's it's not something this is not lights. It it's not like your current generation where. There's more flexibility on that front this if you do have something blocking that signal the signal degrade pretty quickly. If you're traveling at Christmas time this year. Wonder which airline you're going to be on the on American well American forgot to schedule pilot oh no for 151000. Holiday flights. They they have made it colossal error here oops. Yeah and I am I'm flying American by the way at Christmas or you rugby piled in I might have used to on here for example on the only problem is I don't know how to play it by playing that other than that they got auto pilot you can do it and turn it used to repress the Deloitte and rose yeah you just you press one button and it goes I think that's how works. Did they they forgot to rubble pilots for about 151000 their flights may actually made a mistake credit to me. Meet the needs it was a glitch in their computer system that led all these pilots put in. For time off of course. Mean these guys who who wouldn't want to be home on Christmas Day with her fame. Yet so what American is doing now is they're saying OK we will pay you a 150%. Of the the standard hourly rate move in order to get people to pilot these planes they have command said look we expect this is going to be able. To be resolved we don't anticipate any flights actually being canceled as a result of this it's just gonna cost Americans an awful lot of money in order to rectify the situation. Some guy who loses who managed the scheduling software. Made a mistake did Jimmy from Dallas is is gonna be heard tomorrow but this is the combined company and remember this is that come company combined between US there. An American Airlines and I'll tell you. There is a big difference when you get on those planes. Unity if you don't if he had on an American Airlines plane it's a nicer plane it's got the electricity and it you know that for your phone in early. You don't want the old US airplanes will not not new is not good enough. Now I don't fly them very much you know I I use American all the time a fund Phoenix and I find in the Caribbean and I I like the airline a is I used to fly jetBlue and I don't like jetBlue anymore and too many bad experiences sir here that. And up next we'd be talking about a new apple watch bay and they can actually tell you if your heart is not working properly and even as young guys don't have to worry about that. Most older gentlemen we have concerns about the function ignorance is bliss of the functionality of our heart becomes more and more important that is next. From the financial exchange radio network. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Is who's the financial exchange radio network if you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology tell them a cold as he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Are you financial advisor who lacks formal succession plan you're not alone according to investment news 43% of financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the arms -- advisor is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms -- a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they've become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934. Zeros or one or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members and SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals we'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 when he 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 doc can't get all the information about this great offer and sign up today before the rates change get. Free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank stepping. Add member FDIC a minimum Alex fees may reduce earnings -- subject to change without notice and may change after an account has opened if you own rental property you're going to want to hear about this exclusive program offered by leader bank it's called zero and is designed specifically to help landlords receiving and deposit their rent checks electronically as opposed to having to wait for the male co leader bank right now if you are interested in he ran the number is 8776917900. That's 8776917900. This program will automatically deposit your rent checks into your account and we'll help you avoid the hassle of waiting to get a check. Many landlords are suggesting the attendance sign up for zero and took on the execution of their release and why wouldn't you wanna do that once it's set up you never have to make another change during the lease period he rent is a free service if you have an account with leader bank and if not they'll simply cost you a small monthly three call leader bank right now and 8776917900. That's 8776917900. Or go to Z Rand dot com for more information member FDIC. Security suffered two securities America and members finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. They say video ipad's ten pounds. But don't tell Berrian Jardine the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. Do you guys ever had an easy. Yes. You have a lot. I believe chest pain like five or six years ago and it turned out I was just looking too much wind pulled most. Or what not so what happened so here's and so I going to Mass. General notice the courage to march. It's. Has dealt so so here's what happened so I go to Mass. General and I'm happy out of the play well first of all I walked in I've walked there's a live down the street the time and so walking around like a problem but it just and a look at like will the autopsy what's going on. They look me up there like you know it's like there's something they were gonna have to while on some additional tests and in Belgrade okay. They runs and it takes first two hours to get the additional tests on Saddam like a camp actually had a heart attack I'd be dead right now anyway. They run the additional tests the comeback there it gets negative but we wanna hold overnight and then we want to do guy you know like you KG and all the stuff on what. Okay fine like whatever. So they they come back they do you know the an echo the next day yeah and they come back there like everything's normal and finally the doctor actually comes in I just been treated by you know lock in density you earn eighty. Doctor comes in and it doesn't and exact words as he does say you are an idiot now connect in the LC I have no idea why they decided to keep Euro overnight everything looks completely normal and there's no way you should have been able list he had to stay here I was gonna say how they diagnosed that anyway this I have I have no idea at all but yet the other thing that I realized is they kept me hooked up to this thing all night there and my resting heart rate goes down to like 25 beats a minute. And so pretty much what happens every time I fell asleep then these alarms will be going off as they thought I was dead. So like I didn't get any sleep all night finally it's like five on which you just turn this thing offered it to stop people are still huge ally and I'm I'm I'm not dead. The picture of chuck at Mass. General and defeated not to eat they see him blocking and they reject him to get out there that I do not treat why do I bring this up why why would I ask chuck who at thirty I would. Sue had never had any KG. Well there's a company called alive core EL I VE CEO mark. And they make a portable EKG reader the same kind. Of electric heart monitoring that's in standard hospitals into a respite it's it's a watch band for the I watch this this is gonna become very very popular. I think it will I I think I would not what it's in these are some of the car and I marriage you know we've kind of I've often said the apple watchers say is a near solution in certain problems that finally finding some things that it actually works well for and it's it's taken him a few years and in their finally getting there it's not an apple product bill as a separate company unit and you can bet your bottom dollar Apple's gonna buy him up and heartbeat. Is it to work if it yet I mean I I think it makes an awful lot of sense and so by the way I'm not the only one of had this up problem one of our Texas from five which has happened to me to a furlong B of shoveling I won't groups so sore that my mom called 911. And thought that she he was having cardiac career. He's thirty years old they pretty well so he's probably like. Eat this and his mom called 911 does Obama I'm not your mom's a hundred to call out some. Knee and went to a. What pat with this number has compiled. By the way Texas back let us know how old you are I guess Aaron do you Lee was. 25 years old I guess he's not 81. You know. Closer to eighty and I know and when the greatest generation does not still live with their parents that's why they're the greatest generation well you know. Colonials to take a lesson from yes yes. The United States may be pushing Canada towards free trade with China this is one of the risks. That the president is exposing us to as a country. By threatening to break up NAFTA. China has been trying to get in bed with Canada for. Twenty years in terms of trade agreements they they want more free trade with Canada and Canada's been rejecting them because of sin and and and no we don't want to do anything that. Upsets our relationship with the united state. CNN in particular this I think goes back to the tariffs on bombarded jets that were announced about a month ago now and so this is something where if you say hey we're not gonna play ball with you. Eventually people say okay we're gonna pick a little somewhere else and that and that is that. The danger that you have when you look at some of these trade deals is you know what's the cat's out of the bag on the right it's you can't put the toothpaste back in the two. It's hard to re craft these agreements and Trudeau. That actually has a pretty good relationship with president. So I think to the lines of communication are open but I would suggest to you that you were going to see Wilbur Ross and the president. Backed way off. On their rhetoric as a relates to NAFTA some time. Maybe after tax reform is done I journal in the exact time will be the defeat so I may have to the BQ this NAFTA agreement. The I think you're gonna do two things one the leaders there. They've got a patch apparently would Mexico and can't cannot have adverse relationships with those two countries. But then the other things they need to jump back on the TPP and lag. Because China is eating our lunch international in Asia that kill and that was the whole point of T I know is to provide a bear here against Chinese economic expansion a counterweight in that region it was a you know in and it it's important that was originally your call that TPP was a Republican bill those under the Bush Administration that's that's a whole darn things started. At any. Wil Tesla die for lack of cobalt cobalt. Is a mineral that's required in the manufacturing of batteries. And it comes from very politically volatile part of the world. And. Effectively what this does is Tesla is likely gonna be able to get the cobalt they wanton. But at a higher cost because the supply is uncertain and not necessarily enough to keep up with all of the demand. At its current price up from Congo. Yes come from Congo and a lot of the refining also comes from China C talk about again trying to make sure you have good relations with these parts of the of the world. You need them in order to get these types of you know minerals into the US in and be able to produce the batteries the heat but the problem is in Congo it's it's politically unstable. And and city in tonight's whip putting it well it allies it's it's it's beyond politically unstable I mean it's it is an area that is him. Dominated by eight you know effectively give tribal rule in the case warlord out. Warlords and and so you may think you have an agreement to buy certain amount cobalt and the miners might say do you yeah we're gonna get that Coble the for reasons beyond their control the warlords could say well you know what we're gonna we meet we we want a piece of that in depth that's how business operates in that part of the world. Market gains or just remarkable folks I hope your net invested in the stock market because the Dow was up 199. Points. At 24139. NASDAQ is up 41 points in the S&P 507 and it is an up sixteen points oil's trading down nineteen cents a barrel at 5711. It's very shocked and Tucker from the financial exchange rate in them.