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Full Show 1-3-18

Jan 3, 2018|

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 you're sick leave your world. Stay informed and up today about economic and market trends plus give breaking business news every day. And now the financial exchange with Barry Armstrong and sharks done us. Second day trading near twenty team instantly a relatively. Quiet start to the year but more positive movement so continuing. Yesterday's rally as we start to dig. Little bit deeper into 2018 at least before snow we get 2018 hits tomorrow. Tucked up John Mooney to pursue over here and you know John that as we look at where this market is going it looks like. You know right now a continuation of now the trend that we started yesterday but I guess the confirmation of kind of that first day's movement here specially in some of the stocks that were a little bit beaten up Ian 2017. Little bit of positive movement to start the year for some of those names and that's continuing right now. A question about that and we're having I would assume an influx of money going into things like ETFs and funds. As people unsure feeling better about their jobs in May be contributing little bit more of their 401 k.s that work. And the people are running the mutual funds or are deciding the more money to put to work. Good time to do the beginning of the year prices kind of drifting up a little higher which is a good sign. One number we thought we might drop today shock mortgage applications which is sometimes pretty good economic indicator. A little mixed down two point 8% a little bit better than now last month but they've the mix was interest in the purchase index is up a percent. And the refi index plummeted 7% now I would think as rates go higher debt refinancing. Business is definitely under right. So. I have an interest and thought about that I think you know that that refinancing business over the last probably six to nine months has been in decline for the very reason that you mention right. I do wonder if you might see you little bit more a little bit of a spike maybe in February and march. Because people might say look I can't deduct at home equity line interest anymore. Water fire and roll that into a mortgage it gets direct access to that principle or just re fighting something that is deductible now we've had something similar that called cash out refinancing. Yes is that that's a version of cash referred to in this what is the web before this might not even be cash out this just might just behavior got 200000 on the average of fifty on a home equity line. They let me just do it to fifty mortgages selecting deduct the interest on that equity line that I can't do right now. Now that's a great point I hadn't thought about that but it makes a lot of sense so you know if you do have a lot of equity in your home when you're thinking about getting home equity line. It might be more advantageous to you to do were re fine as long as the numbers work is not too expensive. And then you have deductible interest up to a 750000. Dollar mortgage great point there's not a whole lot of things we can deduct anymore. The 750000. Dollars in mortgage is one thing. That if you have a million dollar mortgage don't do that because you're grandfathered in by the way feel one point two million dollar mortgage. Baton that deductibility states. Fully to 0221 million plus. But. Under the grandfather lost so you don't wanna give that up and refinance it and end up getting kicked down the 750 double was most people makes a lot of sense. Looking at where markets moved yesterday the NASDAQ topping 7000 the first close over 7000 I believe in in the history of the index. And the NASDAQ obviously tech heavy. Rose significantly last year. It's it's too pretty or start this yours. Yeah out great day for tech yesterday and we wonder if there might be a little movement out of checked in into value as we kind of saw towards the end of last year not so far did not see them yesterday in fact NASDAQ was up for -- times. That the S&P was up three times that of the Dow so we have a little bit of reversal some of the trends happening in the year but. If we can describe an evolutionary change here. Chuck it's kind of interesting because we have an index driven market lots of money is flown into the indexes. They've taken in more money than ever they're huge they're. They're taking over the business of money management in many cases from from actively managed mutual Jones oh yes so we have an index driven market. Tack is driving the index. And five stocks are driving tech. You get from going near a little at the concentrations a little narrow is that there's there's not a lot of her waist and what's interesting. You don't have as much breath as you would expect to see in this market rally. It's it's obviously other stocks are moving up as well but not by nearly as much as the market leaders and in the question then becomes. If market leadership falters. What happens to everyone else in it in the optimist would say we might see what happened towards the last five or six weeks of last year. Happen which is a good ol' fashioned healthy rotation in other words you'll apple Microsoft Amazon alphabet Google and FaceBook. Have driven this market literally and figuratively. I mean they've dominated the the indexes in the index's spending all the money and that's for all the money's going. As a result you can argue that collectively that basket of stocks got a little bit expensive. Well as money continues to come and we started to see some of the land records do better towards young in the last year a day like today. All the votes are rising a little bit so the optimist would say yeah I mean those leaders but everybody else is kind of following the leader now. Yeah I I think that. It's going to be interesting what kind of rotation we see year here's. I don't know how much more room there is for tech to move up beyond where it is and there's obviously some you know second scene of the year with tech up 40% premium if you are it's not sustainable. Because tech earnings are not rising 40% but underneath that leadership and again and a pessimist would say. You know when those five stocks give out. Then tech goes down and the market goes down over a reversal of what we've seen. But the optimist would say that the down estimates on earnings. Or that earnings will grow eight right 10% this year. Before we talk about the benefit of the tax break right the tax break adds another six to 8% on top of that. So optimist says. Could be looking at 15%. Loss earnings growth. With the benefit of the improved tax code and the better earnings from the better economies so that's good news for stocks. What's interesting when you look at all of this is I was thinking about this last night in the in the conversation that we were having about. You know and markets. For the last two years kind of shrugged off everything that's been thrown out the but what's interesting is that when markets finally break. It's all that pent up fear comes out all once so the question it's you know people's will wins the next crashed and happy civil. I know because markets generally they shrug off all these little things and then eventually get to that one straw that breaks the camel's back in the whole thing just goes and and they are idiots right in the it's it's always in the span of two weeks yep and it's not what you think it's going to be no and and so don't don't worry because whatever you worry about. Is not going to be what causes the problem. There is gonna be something to worry about we just don't know what that is. It eggs or when I am now. Getting towards these lines. I want to talk Cuba to little company called chanticleers holdings okay typically holdings if you haven't heard of them you're not alone. Okay and chance to clear holdings has the ticker beat URG. Okay in the recent as the bird it's it's a burger chain. And it's a really small burger chain so small that it's market cap is less than ten million dollars which is a nothing like any company. They also owned nine hooters restaurants OK partner. They announced yesterday that they were going to change their rewards program to be blocked to change focus. What does that mean. What are you talking about blocked you've still cheeseburgers what. What are you gonna do with the block chain and a cheeseburger you get older you get to get some point if you eat too many chiefs. What is wrong with you in the stock is all of these dom investors decide the pilot at the same time they say all watching and cheeseburgers that sounds like a great companies must take the stock for two dollars up to four. Which doubled the stop. Morons out and so like this we are now in the exact same you raise is that the tech bubble went through which one cycle the more on phase. Because all the idiots who have never invested in their life yeah hopping and all this crap. They get bored by it let's go back to tickle your member Long Island iced tea company from a couple of -- a thought on Long Island iced long ball well and they several 100% web several 100% in if you are one of idiots who piled and afterwards you're now down 40% as you were more on. I'm sorry if that sounds mean you're good don't do this crap like it's. This is pretty straight. Award you know we talked about Charlie Munger who is you know Berkshire Hathaway's you know vice chairman. And he says he can just teach your kids. To avoid. This stuff. Every time it comes up in their life they will end up being for wealthier all the you have to do is avoid these land mines. Whether. Yeah this it's it's okay here's a great idea. Blocked chain. In Lagos has its block Jane and blocks gala that highlight of it like this is where lake. We we've jumped the shark at this point there are valuable uses for blocked scene right. We could have a listen rewards program for the financial exchange what are we talking like oh yeah. Yet it has. A I think. I can't even do it I I can't even do it let's take a break before I go any further off the deep and we need to have our encrypt its currency chuck that's the end we're mechanical. You chuck and Johns crypto currency. Job and right now some of them literally on like Monique Wayne Moore I don't like that boom going on or ability or Tucker you could have like. Talk coined the cult like one that talked when it. Let's talk rural. If you get a W twentieth. Cox is a hook and we have officially jumped over the ledge at this point win a company that runs nine hooters. Is seeing it stuck bump by 80% because they said there you can use a blocked chain rewards program yet this is almost under the facetious like joked stage like this is really this we didn't make we should have like maybe this'll do you watch Silicon Valley an old TV Schneider area soccer. If if you put this in an episode of silicon ballot pitcher they well know no one would we believe I don't know believe it could be real you know like. Brewers is they. Mobile that he marry done to wreak real crypt I am so happy I don't own any of this crap anymore. You don't want morbidity merit your wallet and even notable activity is digital wallet. And it's. This is often work we're gonna take a break before a blow a gasket here. When we come back we're going to be talking about something far more normal. Which I'm gonna have to decide in this break that's coming up right after this on the financial which. As we age long term care is something to make sure you claimed four. How quickly we your assets be depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and an average cost is expected to increase to 169000. By the year 20/20 six. If you or a loved one are faced with an unexpected nursing home study and you haven't done your planning yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years and they put together in new guide for this month called claiming for procrastinators. It'll are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed judge John. The calendar has turned and a new year is here it's time for us to reflect back on the year that was in the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial wellbeing and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and -- a brand new guide that will help you look back on the successes we've experienced and the failure that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffered two securities America incorporated member finreg SIPC and advisory services over the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Our our strong here and I'm joined by estate planning attorney Todd lots ski from law firm of Cushing and old were talking about last minute planning techniques can help save your assets and you know in the past Todd we've talked about married couples. What does somebody do that single or widowed or divorced. And they have assets and they may have children amen I have nieces and nephews and hip favorite charities that do what they wanna leave their money shall. But they get sick at their nursing home in the bills or company. And you know this is why we stress so much to folks to families that that when they're in this situation. Don't just write the check. And think there's nothing can be done I know you think in the five year rule and all that stuff you don't have to do. Seek out you know an elder law attorney and and find out what can be done in this case. I would probably say. House non accountable. If I checked boxes you intend to return home a little lean on it but it's not accountable so that's good but it's the money that I wore. So they've got money that what you need to do is you either can do and other annuity. An annuity is a technique that logic to buying annuity and have money pay out as an income stream. Two with the institution and lose Jules yet do you lose the income stream while you're in the nurse yes that income does go to the nursing home. But there on Medicaid instead of on private pay what you can look at these pooled trust that you might be really old and if your liking your late 80s90s annuities aren't gonna work rate so that you need to go to this pooled trust idea. Put money in the air. And still get on Medicaid as well but they'll have a payback provision but at least two beyond that even single people can protect their assets last minute how do you do so well he call Cushing in dole and an 8668485699. And you request their guide last minute planning techniques that can help save your assets if you want to guide right now simply go to legal exchange showed dot com and it's legal exchange showed dot com or call -- people free at 8668485699. Security suffered through securities America ain't members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Get the most comprehensive weekly economic update from CNBC senior contributor. Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. This segment of the financial exchanges Roxy five liter bag if you're looking to diversify your portfolio. Precious metals are small investment in gold and silver bullion points are now available all leader bank locations. Call 8776917900. Or log on to leader bank dot com for more information. Number FDIC. I do want to direct everyone now to our poll question of the day gets it via Cigna we are just talking about. If you head over to financial exchange show dot com lets know are you planning on coming out with your own crypto currency this year dot. I'm gonna beat you guys to the two options are yes and no. And again head over to financial exchange showed dot com. Because if a company that runs nine who voters can do it so can you. There's no reason why we can't have a listener loyalty program. Where their own current currency. Finance we need to be a good name for it though. Again it's been Cohen. At the time some aren't probably or taken financial exchange currency. Pinpoint. Wolf the wolf to poker has let us know if you come up with anything does go on FaceBook we'd certainly love to hear me if you have any ideas for what the financial exchange crypto currency could be. But again head over to financial exchange showed dot com and let us know are you planning on coming out with your own crypto currency. This year and a financial exchanges not a crypto exchange. No we if we do not we do not into rating crypto currencies in any way shape ever warm. We thought about it but would decide they are redeemable for nothing. And you'll have to go to voters' hopes and may god have mercy on yourself. Car sales topping ninety million globally for the first time ever. Yeah. There's no question about this that the synchronized global recovery of which we are part and probably started a few years ago. Is really catching on and it's our resulted in enough confidence around the world to get us up to ninety million units this despite the fact. That the United States has topped off we are we at seventeen point six million in 2016. Likely drop about a half million off that pace last year still healthy pace. But around the world are we gonna give a global it global synchronized recovery Europe is doing better. And the real star of this economy and not the star of the car buying business. He is Asian buyers China in particular China is doing great and Vietnam is gonna rock and economy. I mean Asia is doing extremely well and and they're buying a lot more cars. That is the big challenges for a lot of those economies figuring out how to deal with all these new cars coming onto the road has that gotten a lot of cases their infrastructure isn't built to handle that many vehicles. And so you have things do you remember if it was either three or four years ago now. There was a 112. Mile back up in China when it was it was pretty much caused because too many. Big gun semi trucks came on the one road at the same time. Yup because the 112. Mile backup that lasted for four days while that at one point. You had this underground economy that developed in this traffic jam because people could get anywhere and so they had to figure out how to buy food and you know do things in their car and so forth. And so you had you know vendors walking up and down highways selling people things in this traffic jam and that's gonna happen more and more often as these countries knew of grapple with the increased the burden on there. Infrastructure. Especially you know if you look at some of these economies and you look at them geographically. There's such a contrast between the development that goes on in the inner cities what's happening in the suburban and more rural areas. It just drops off into this like deep rural environment yeah very quickly. To the point where I almost wonder if one of the best place here might be tire manufacturers 'cause. Though it some of the roads once you get outside of the main cities are just awful I mean. Pages like give up one paving these roads and they've become dirt roads and a semi maintained roads I'm sure is in Milwaukee. Officials feel driving outside the city. Pop a few tires here and there. Also in the auto sector expect more incentives on suvs and trucks and 2018 interesting given that that's the best selling segment right now. In the country yet this to me is a little bit of a red flag on our domestic industry we talked about this yesterday char one dollars a made me nervous for the last eight months like here's one that should make you very concerned. The rationale. On this is. That the issue v.s and light trucks are where the big fat margins are therefore. Rather than disc counting. The sedans. And coupes which have much thinner margins to the point where the margins almost nonexistent to losses rise up and doing that. Let's provide incentives. To the suvs and trucks because as more margin to play with well as an investor that kind of makes me a little concerned. Does your eating into your the main meal here you're eating into your margin obviously and beyond that. You're also in effect saying. Hey there's not a value here for people to buy it. And it's at its market price and the problem is that when you do that your prima saying hit the consumer isn't strong enough. And to pay what we think they should pay for things. There's that factor absolutely the other factor little more thought about it is that you know maybe this really is the free market working because. If everybody's buying suvs and light trucks and pickups. And there's big fat margins. Why don't pay increase production which would therefore reduce the profit margin if there's profit margin to be had someone on the world's gonna take advantage of it. And I are washed or during that Hyundai for example. Which has not been a big player and suvs light trucks when I hear that they're now gonna get more into this. That's telling me. That there's gonna be more competition seat and that's that's the marketplace were to me it rings that went when you see that level people jumping in on that bandwagon. I think that were on the downturn that cycle like that's that's what it says because this isn't you know your early entrants and they're throw that they've already made their money the people who have kind of coming on the middle that way back in 1516 when it was still rising. Get it they they were able to make those margins now you're coming in in a declining margin environment. It's not gonna get better. Ice and scratching my head over this is is this move to crossovers and SUVs. Is this secular thing or cyclical thing part of me says. Our lifestyles have changed. And we no longer really want. Small sedans or coops that we want the utility of an issue for your crossover but the part of me says. At least hatch backs like Honda for example. Pacific catch back up that does. Everything. In my kids the his CRV does. It isn't what does that whole trend within she's it's good question it's a good question. We're gonna take a break when we come back we're gonna tell you how much debt Americans wrapped wracked up over the holidays right here on the financial exchange radio and. Like this on FaceBook and follow us 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 zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Hi this is very Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should talk we all work hard and if you've reached the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. 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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. As we age long term care is something to make sure you claimed four. How quickly were your assets being depleted if you had to write checks to the tune of 141000. Dollars every month according to -- the average cost of a private room at a nursing home in New England is 126000. Dollars per year and -- average cost is expected to increase to 169000. By the year 20/20 six if you or a loved one are faced with an unexpected nursing home -- and you haven't done your -- yet before you write that check picked up the phone and call the experts at Cushing and -- at 8668485699. Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years and they put together in new guide for this month told claiming for procrastinators. -- are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed John John. If you're real estate or property management company -- 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 it's innovated to see rent payment platform leader bank has -- business bankers that are 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 -- leader bank as -- banking partner call 8776917900. Or -- BBO -- -- -- dot com for more information member FDIC equal housing -- Time now for mostly watch a look at the market's performance so far today thanks to Barry and jug right here on the financial exchange radio network. Mike Armstrong joins us now for Wall Street watching Michael so we have a little bit of a merger happening in the utility space. That's right merger Wednesday sit dominion one of the larger entity suppliers in the country is going to be taking very do it merging with SCANA energy which is they South Carolina. Can be at all stock for stock merger scanner shareholders and yours ski receiving out about seventy cents about 67 cent per share for each share that they go to community. Based on that scanners being. Values around noon seven billion dollars skin is up about 23% today entry into being in down about three and a half percent on the news. Good thank you Mike. Mike Armstrong with Wall Street watch SCANA by the way is that company that was involved in that South Carolina nuclear power plant that. Went over budget and pretty much was never finished ya hmmm what's interesting is if you take a look back at SCANA stock price the last year. On January 2 seventeen it was trading at 72 dollars a share. They're accepting a effectively the equivalent of about 48 dollars a share for this to scan shareholders pretty much saying. Look we don't think we can get out of this otherwise. Yet as he gets under your wing. The into space is gonna see a lot more consolidation in the utility space to yeah. It's it's become a very different business for a lot of reasons like Otis expect to see more mergers as time goes on. Jung took a little bit about the the amount of debt that Americans racked up this holiday season. Yeah they Americans racked up more than 1000 dollars each in a holiday debt. That's a lot of money when he added up among the entire population. And that's up about 5% from last year on one hand it definitely is an indication of increase consumer confidence people want to. Rack up slightly higher credit card bills and spending more money and gifts. At the same time chuck you know we pray that raised the point this does raise some concerns about overall debt levels. And the use of credit card which is creeping up the levels were you warned some consideration. Well and the part that's a little concerning for me is only half of the people who took out this debts that they were gonna pay this off within three months or less the rest say hey we're gonna need five months or more in order to pay this off. And especially if if you're only making minimum payments on that kind of debt guilty to six years eight guide makes no sense. When he 9% of all people who put stuff on there are credit card for a for Christmas for holidays basis to take five months as you said or longer and they are bad news about that is. Not only is that not a Smart thing to do but it's eating in the future consumption. You know and that's money they can be spending in April and may and June that instead it's gonna go to be paying for what they bought in November and December. Do you have any thoughts as to why. We tend to make such poor financial decisions. India is impulse is a lack of financial education and yeah it is at the biggest thing you think. Yeah I mean there's there's a lot of illogical behavior we talked about the fact that millions of PME get people moving a whole bunch of money into a company that. Owns nine hooters it's not gonna get involved and blocked it right yeah were were pretty illogical if it. I'm human behavior is though is worth noting and it's not always practically logical we talked about the fact. That no one died flying a commercial jet. With thousands of flights a day in of people more scared of that popping up once when he. And they'll gladly buy a whole batch of scratch tickets. Which this debate on the on the pale this could be the wind if the payoff is so bad on scratch tickets but I know someone. Who was involved in the industry who won't racetrack OK and he was consulted by this people in the Commonwealth of Massachusetts. About all we certainty about scratch tickets he said. Don't even think about that the odds are so bad. But even the gullible public won't buy that they're not that dumb and they and they only response was we think they are. Go go go grocery Scalia now wait I'm buying my my gallon milk and the behind five people. A number twenty gimme five number twenty nights and six number seventeen and I and every day every day there's New Guinea. About antioxidants and. I did a rarely do I rarely do. In the mode but it. Do you know the better in the crypt or oil or alert I lost. It's adding yeah do you know how much money the US spends a lottery tickets each year too much. Where to tick tick tick yes and how much money people put in the lottery tickets each of the general store there the Tucker and I go to us when it's at its. You have that lie behind seventeen other I was minded gentleman who fought forty dollars to scratch tickets. And on a day when it's twenty dollars and square out. Taiwanese in them I think my favorite site at the placed we're talking about is when you go outside its ten below zero. There's a guy sitting in his car yes smoke pot smoking about. Scratching off. Twenty minutes worth of scrap the policy ranks yeah it but anyway. But it was so what's the answer this question seventy. Three billion. Dollar 73 billion with a B 73 billion dollar suit to put that in perspective Americans spend half percent of GDP unlock the news. That's that's how dumb we are. And look up I'm guilty to two whatever you know whenever I mean what does it Mega Millions whenever whenever I see that went las night. Most know he hasn't lost a aka powerball that I those programs like look I'm guilty of 220 bucks in whenever it was that high and whenever but. I look at it and just like what are we do when you. 73 billion dollar and then you have all of this credit card debt. The people campaign at least and that it in the lottery players the benefit which is it's helping education not as much as people think they'll troop. You know what people don't realize how much of the money actually goes to education not as much as people think a truck it's they thought the ignites. Ten and I'm running out of and it's still and look what we're all guilty of it but it's just I just find it amazing how we all meet those bad it's it it's no different from. I bought some dump stocks and I'd never bought you know a big point burger chain right but. What I've done dumb things just because I'm like Ollie got sentenced to an end in two days later I was thinking yeah I mean we'd we'd like we'll we all do. We don't always act logically no. In in in the case of your stocks the law but you had good reason for doing it. You have much higher opinion cook and I do you have a much higher opinion of myself and I just some scratch tickets are. Quick question on behalf of Armstrong advisory group calendars turned. And the new year is here and it's time for us to reflect back on the year that was and also look forward to the units to come. I'd like to ask you also reflect on your financial well being and your investment strategy as we head in to 2018. The markets while still volatile we're still incredibly resilient. Rising to heights that we've never seen before and in spite of challenges that still exist both globally and here at home. When he team holds a great deal of promise. We've put together a brand new guide. That will help you look back on the successes we've experienced and the failures. That we need to correct in order for all of our portfolios. To remain strong and grow it's called the 2017. Year in review. In 28 team forecast in you can get your free copy by calling 803934001. That's 800. 3934001. Or download it right now are strong advisory dot com. Security suffers through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are on the affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. McDonald's. Had a phenomenal. When he seventeens auto race went from 120 2172. Steve Easterbrook has done a tremendous job transforming the company he's been there what a little over two years now maybe two and managed just an amazing job the stock was one of the best stocks of the year up 41%. For the year to ease ease knocked out of the park there. And I think they're gonna have another huge winner here with their dollar menu that's that's being launching that's launching tomorrow. It's their new dollar many units launches on January 4. And I think it's gonna be another one for. And again their game when he had was very simple which is let's consolidate what we're doing here let's take that menu that nobody can understand it as a million items 95% of which no one orders in occasionally someone does not just lays the line for everybody else. Let's scale it down to what people are buying so we shrunk it down to the things that people actually want Lisa you know what. We can move a little bit up market here weakened due. Kind you know pretty healthy stuff here upgrade the quality and raise the price a little bit. Lisa you know rather selling dollar burgers pizza like two dollar healthy workers in we think there's a market for that and they're moving and after. In part what they're gonna be doing is they're gonna be testing another fresh beef burger in seven locations and not frozen beef but fresh beef. And they are going to test in ruled this Al. To most restaurants so. I think you're gonna continue see them pushing fresher products and what's interesting about them. McDonald's you know people think of them as a food company right. Logistics company and if I had a toy company area just Dixon toy companies disguised as a food company yup and I think under Easterbrook. They've realized hey. We things languish on the logistic side we have to get a little bit better sourcing and who better being able to give people what they want you and I think they're making huge improvements and as a result of this belongings have been reduced. Would you go to drive through it doesn't take rubber anymore it's a lot quicker we need to win side the services quicker so they've simplified it they've made it better. And the other thing you talk a but disguised. There healthier food company is the disguise what they really are though is the company itself really expensive French Fries and I can venture with a select Italian. Let me tell you John. I don't agree with Barry on much like do but. Those Fries are awesome of course they saw. And how many times ago and I wouldn't just last week I'm guilty. To get something healthy I walked out with a large Friday it was like this 200 dollars yeah I had like a salad Diet Coke large Fries please say yeah. It's it. I bet there are the salads there and I don't know I've never had I don't give an example I think its customers yeah when he held in argument Fries yeah now normally if if I do I probably get to McDonald's once every two to three months I don't like to go often because I never know it's not good Korea. But occasionally have a guilty pleasure and I will say I go little off the deep end I usually do either the twenty piece make nuggets for myself it's twenty peace and that's a lot of the news. I love those big I don't know what part of the chicken they are and I don't want to know what part yeah I don't wanna know apartment and fans are let me tell you those nuggets in those Fries. They put you into a food coma like nothing else library I agree they just you don't wanna be you definitely don't wanna drive after eating McDonald's is you will fall sat back. It's it's just it's it's those Fries or that good in its tree I mean I know people and I eat. Fairly health Whitman and I know that he would eat very healthy limits at McDonald's. I'm looking for tree and let me get a fry when we get a shake up let me let me heartland genomic monogamy undo three months of good health in one sitting because like learn it but because it is America and I can do that. Is that if I want like I helped the salad. McDonald's for me I get I do I go to or whatever labor matters like that and error style food yes I got other options for wanna sound when I go to McDonald's you be the biggest prize you've gotten in load him up with all the salt exactly. Quick break here we come back Amazon's plans for Alexa in twenty team what's going to be coming through your speakers that's coming up right after this on your financial exchange radio network. The financial exchanges all over knowingly and go to financial exchange of dotcom and search for the station closest view this as the financial exchange radio network. The calendar has turned and a new year is here it's time for us to reflect back on the year that was in the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 -- a great deal of promise and -- a brand new guide that will help you look back on the successes we've experienced and the failure that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. As we -- long term care is something to make sure you -- for how quickly -- your assets being depleted if you had to write checks to the tune of 141000. Dollars every month according to -- the average cost of a private room at a nursing home in New England is 126000. Dollars per year and -- average cost is expected to increase to 169000. By the year 20/20 six if you or a loved -- are faced with an unexpected nursing home study and you haven't -- your planning yet before you write that check picked up the phone and call the experts at -- and -- at 8668485699. -- and -- and has been helping families just like -- protect their assets for more than thirty years and they put together in new guide for this month -- claiming for procrastinators. -- are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the -- right now from our website legal exchange -- -- -- Hi this is chuck and Mike here from the financial exchange and as we head into 28 teen Micah wanna talk about one of the key themes 2017 is that what and that was the disruption by technology companies. What a major industries. Yeah it's true you know we talk about the Amazon effect it's not the only one it certainly it was a huge elephant in the room so if you take a look at. You know their activity in 2017 alone you saw the large purchase of whole foods markets which was you know a very very big disruption to that overall grocery industry obviously Amazon and a lot of tech companies they've disrupted retail to this point but now we start hearing about other sectors that are potentially in the firing line so to speak next year health -- travel all kinds of areas the potential higher risk yeah I mean you really do need to keep an eye on the Amazon effect we talked about retail obviously a Toys 'R' Us is in bankruptcy proceedings Sears JC Penney Macy's all really struggling to keep up and now you're right gathers rumors that were flying around the -- on my. 2018 and beyond. Folks 2017 obviously was a great year in the markets but you do need to be prepared for what's coming next and so Armstrong advisory group was put together this great guide titled when he eighteen the year ahead it is free to get an all you have to do. Is call 800. 393. 4001. Or go to our strong advisory group dot com to download again 80393. 4001. Or Armstrong advisory group dot com. Security suffer through securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are on the affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. The financial exchange for Barry and chuck is liable on FaceBook and YouTube every morning beginning at ten. This is the financial exchange radio network. We talked about Amazon collects a couple times the last we. But some I'm mad at Alexa now to news breaking yesterday that Amazon is planning to expand elects into advertising. In 28 team. Now I'm unclear on exactly what this means is this means is it's going to display of random at random times for. So open dish detergent and things like that we work really what do turned what it means here is that Alexi is no different than any of the search engines that we've come to hate and it here's everything you said he. Ways in which Amazon my guess is probably saying. Hey we're listening to every conversation. If you want access to this data pale well and and this is this is even panel worse I think they're talking with the Procter & Gamble Clorox other companies. In some of the early discussions have centered on whether companies would pay money. For higher placement in user searches for product so it's no different the most. Really kind of crappy search engines are simply search engines use like not Google but. The secondary ones where you'll ask for something basic. And bought in nineteen search result is what you look is when you actually which the most obvious one nasty like seventeen ads before that. This is what Alexa I think is gonna turn into she gonna ask her question. And her search engine function is gonna be kicking out responses based on how much Procter & Gamble paid them. I continued I continue to think that these speakers. Not stem like what he owed an Amazon Google apple I I think they're creepy. I think they are creepy and I I think that's. Ed I don't think we fully understand. They reached in their power CA I think that the I don't think it's going to be that. Creepy check on the embassy ads playing off serve your car correction I guess I thought I already have I think wolf all I already have on pandora like. We would be one of my friends had a a Google home. And we are listening to pandora on it forget exact do we talked about news like Pringles or something like that need the very next that we. It was for Pringles aren't talking Pringles needs an example. But I more specific in this case grew like if we US for a pizza if it turns out that there's a Domino's and Pizza Hut like with an equal distance. If Pizza Hut is paying Alexa money. The the search result you get when you ordered nice and convenient and easy pizza and you'll never going to be death and you'll never see that search result either cool runs behind the scenes to I don't think there's gonna be like ads you're gonna hear that I think it's gonna be like if you wanna order. This item from Procter & Gamble through relax you're gonna get this amount of off discount something like that or maybe going to be hearing and correct any and you're not gonna find out that this is cheaper options that are not advertising for them right. Because if if your plane ads on that men who the hell's don't want wanna close. You see ads on the. Two yeah I just I. It's seek to meet this would legitimize who if if something is free to use it in the prices for these are incredibly low if something is that cheap to use that they have to make the money some morals you wore the product that. And specifically your conversations. Or the product so what is buyer beware and I just IE. I wish that I could believe that everything was on the up and I just I I get and certainly. I I just I don't like this level of privacy. And I know it's entirely optional it's not something where they didn't have to buy Wendy's. But somewhere someplace somewhere. There's someone right now who it was into the financial exchange on one of these anew in my voice is coming through yet and Amazon knows everything that comes Liza. And that creeps me a little bit. OK Google elected. Chalk this thing really bad things about you as the next let me ask you how many elects as we can overload today next time chuck gast you but does traffic make up something. Yes it make it make you man in the eighties like this does treat him terribly into the turns round is thinking this is actually raise good questions like if I'm like let's say that a hundred people listening on the Lexus right now. If I said Alexa order something. Like how many people end up with random charges that doesn't mean I'm not sure because I think that's poster recognize your voice but I I can't confirm that. Yeah I'd like if we said Alexa order pizza. Doing going to be a bunch of people don't listen to show. What tendency to I want them you can't do that John. And let's order pizza but delivered the general idea that you couldn't get order yourself a hundred pizza. Now Marla listeners I tap boosted up there's pizza is showing up and our listeners doors that's left the recorded on the visa card Alexa thank you charge moaning about what he's a little order that it's the right it just I don't know I. I'm creeped out by these things in I mean isn't it isn't it's a meat problem my note but there's a reason why the given away for 29 dollars on Amazon because they were between nine that was me it's a loss leader. And again they're they're going to use this to leverage their power and I kind of agree with talker that. I don't think this is going to be all that horrible but I think when you ask for search results you're gonna get paid search result just something we've grown to accept with certain search engines. Like Google them while they. Haven't let that stuff influenced their searches as much as of the search engines that's all the time we have for this hour of the financial exchange Tucker Silva Jon Marie checks not it will catch up with the and a little bit on the financial exchange radio network. Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should talk we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention to your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me a call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. 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. 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. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases in refinances all originations are managed by a leader bank's local underwriting processing teams traditional information call 8776917900. That's 8776917900. Or visit leader bank dot com. -- DNC equal housing lender and -- number 449250. Subject to credit approval -- -- a step ahead as we -- long term care is something to make sure you -- for how quickly -- your assets be depleted if you had to write checks to the tune of 141000. Dollars every month according to -- the average cost of a private room at a nursing home in New England is 126000. Dollars per year and that average cost is expected to increase to 169000. By the year 226. If you or a loved -- are faced with an unexpected nursing home study and you haven't -- your -- yet before you write that check picked up the phone and call the experts at -- and -- at 8668485699. -- and Dolan has been helping families just like -- protect their assets for more than thirty years and they put together in new guide for this month told claiming for procrastinators. -- are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or die when he eighteen having now wrapped up 2017. And Mike one of the biggest things that investors need to keep in mind this year are the upcoming mid term elections that are going to be held in November and the effect that they can have on markets both over a short period of time. But also over longer time span. CS certainly there's always uncertainty when you head into election years we've already seen some early elections that took place in Alabama New Jersey Virginia those have been giving us some sorts of indications of what we might see but it is largely unpredictable so we have to take a look and you know see how that impacts markets or how it hypothetically could impact markets leading into the end at 2018 between ninety. One of the things that investors need to be cautioned about is is heating conventional wisdom that certain election results are going to be either battered good we saw that twice. In 2016 with both breaks it and the Donald Trump collection markets move the opposite way of what people expected. Right yet she you know if you're listening to Talking Heads on television every once said about Donald Trump went for a C a huge market correction what happened Dow futures traded down overnight and then we're up the next you know really the next twelve months out with wrecks that you saw quick dip over about a week period then made all that money back up very quickly so it really depends on the situation. Folks what 2017 is in the books you do need to be ready for what's coming in 2018 and so are strong advisory group has put together a guide titled 2018. The Euro ahead it's free of charge no cost in all you do to get it is call 800. 3934001. Or go to Armstrong advisory dot com. Again those numbers 803934001. Of our strong advisory dot com. Security -- for your securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader banker 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 the calendar has turned and a new year is here it's time for us to reflect back on the year that was -- the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial wellbeing and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and Everett a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Dirty suffered two securities America incorporated member finreg SIPC and advisory services over the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Did they are better than one that everyone knows that that's where offering to balance the one taking. You can he added tax and wildcat mountains in the same day I'm the only thing. They're just twenty minutes apart in the number ones out in the heat. Due out in the once again WR downhill this winner at added tax and wild cat nap. Ticket dot com for more information 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 -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there -- no minimum balance required so log -- to leader bank dot com and sign up today this rate may change without notice that don't delay -- -- to -- -- dot com get all the information about this great offer and sign up today before the rates -- get free online banking -- -- banks in new. 15%. Annual percentage -- and no minimum balance and remember this product is only available online -- logon to -- -- dot com right now -- leader bank dot -- -- -- a step ahead. And me. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world and stay info. In the end up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with Berry Armstrong and sharks done us. Drugs out of John Mooney Tucker still be here right now bear on strike out for the day and take a look at markets second day of the year second positive day of the year. Good start yet site is looking pretty good once again the NASDAQ is up performing. The overall market though looking very good looks like rally is kind of spreading out here today. Involve a lot of different sectors that that's good news how do you think tech can continue to performances. You know right now it's invoke. Dan and right now the is the beneficiary of a lot of money that's coming in through the indexes which have to buy tech. And as long as it works keeps working. I do think that you're gonna start see this thing's really spread out to some of the companies that offer little more value. But don't look Tex working the earnings and their the earnings growth story is there. And other gonna benefit from the tax code so right now for the pretty good. Let's talk a little bit about what's on the docket down in Washington for the next couple weeks year. We do have a budget deal needs to be reached at some point. And we've been kicking the can for the pretty much the last five months now I think we were on our third continuing resolution or is forced. A third or fourth where we're somewhere in January 19 and is the next cut off yeah so where where we've we've got effectively. Over two weeks yeah okay two weeks as of this Friday. In order to get everything together and you know actually get a budget passed. And. I don't know if they can reach a long term budget deal. Probably not but now the tough part begins in that is discussion about spending. And that's going to be totally to that conversation is gonna go hunt no not particularly well. Our republic Republicans we should spend less Democrats know we shouldn't OK I don't know I had this talk to fit into that. The Republicans have been pushing for increased military spending so there's a case where you know don't they clearly do want more spending than the Democrats who would want. Other Democrats looking for funds for children's health care. Disagreements. On immigration policies don't docking adaptors stuff chipping and out there yet exactly chip being the other children's health care the health fund. And doc has. It's an important immigration issue but it really has become a bargaining chip. The president saying you know I'll give you docket to give me the wall. I mean there's a lot of back and forth darkest season be almost being used as a as a bargaining chip to get other means so. Let me first to see how this works out but this is the tough part when you talk about spending everybody has thrown ideas and we cover cutting spending nobody wants to do that. Where do you think this this sends a fault is that the last as a long term the lest more than one month extension. Four government spending. Was accomplished I think it was back in September when president trump. Which cut a deal with Democrats in order to get something done just so they could have time to negotiate health care and so forth right I look at it now. I don't know that kind of deal is possible. Giving some of the rhetoric that we've seen on both sides over the last couple months now. Look a lot a lot of it could just be you know empty bluster from either present or from Chuck Schumer Nancy Pelosi. I do worry that there's not necessarily that path there that there was three or four months ago. Kind of opened the door more to Democrats. Welcoming now Schumer and Pelosi is part of negotiations engaging them. I'm looking forward to things that would seem to be a lot more bipartisan. In infrastructure which really seems that a lot of bipartisan support. And I predict will get a number of Democrats on board. Four for the first time we'll see legislation that is almost bipartisan so I they're there there's a reason for a hope. That both sides can get along. A little better than they did last year because we were now turning to part of the agenda that is going to attract. I think less animosity one of the things that I always like to point out is the short term spending bills. Are terrible for the military. Is they can't build any long term plans are any like. They're terrible for military readiness yup it's this is not something you wanted to kicking around me know is this the defense the country. And want to as the military and that given the short end of the stick and remember. We've had situation room with sequester. Right which the military right now anyways effect sequester was such a draconian measure their base wolf that's overhanging the country. You'll never see it happen well it did happen and it did more to get our budget in line. In the last eight years than anything else ever done it was forced. It was and and you know I mean. We survived. Life went on and the so called draconian cuts. You can see monitor call you know it's. You're never brought anything back to that level. Each realizing draconian. Cuts. Translate into actually more spending just a lot less Morse. Then went right which by definition is not Patrick Tony I've ever gotten a pay raise that way. Were they somewhere where slashing your pay. By only giving you a 3% raise next year no let's let's talk a little bit about ideology oh and snap Chad Diaz Jill halting their snapshot ads. Because they're not sure if they were accidentally targeting people under the legal age of to drink okay weren't snapshot right yes okay so apt phrase yeah. We've got a hard liquor company. Running ads on snapshot. This to me is like you know Dion she'll buying ads in the Disney Channel. And saying what we didn't mean to target kids but snap Chad is used largely by kids. Doubt lauded the younger generation uses snapped at just text actually. It's it's pretty remarkable. Right one on one communication ya ya as opposed to actual text answer. That they'd do it on snapped an eight run lead right write letters just looks so much better on snapped apnea and but in June captain Morgan. Ran a sponsored lens on snap snap jet that let users altered pictures of their faces. In this case to look like the pirate mascot. Alongside two glasses clinking together an hour now you know. Oh. I mean this is what this action why didn't they just target the when he won an older it just demo for it out of there would have been zero users. If I mean I'm on there once and awhile examine it all at once in awhile yeah ideas and as you channel your inner ice and I speak this because I don't know how to. Know how to use a sponsor Atlantans. It's just like the it's dog years that you do I don't know how to do that they had no no I don't you don't know kids know how to do it though they did with the captain Morgan got to you I know how to do want snapped and ought to take a picture or video and snap and in any and I know how to put text on. Are there other than that I I don't know how to do anything Nazis. And Wall Street people who were guilty of insider trading. They pretty much created snapped chat the technology. Because they're passing on a list of illegal information that would disappear immediately so the regulators couldn't catch them that's how snap Chad essentially started up and just leaving like a message under mailbox or a park bench like they used to is that is that not cool anymore because there's always someone finds that message. That this summons looking under is RY actually find out dead you know like you put the first letter last through something like that and and no one knows what it means but he this it's just completely disappeared. In that I mean sadly was. One of the origins of snapped chat and then they start realizing if you pass. Naked pictures along that too is something you might wanna disappearing. Soon after a look at it so. Again this is this is undersea ideology always claiming that these ads were not intended for people under 21 in. Won't Woolsey. We're gonna take a break here and when we come back Greg McBride from Bankrate dot com is gonna join us talking about how much they expect interest rates to go up. In 28 team that's coming upper here on the financial exchange radio network. Ferry arms stroked. Chunks on breaking business news every day right here on the financial exchange radio network. As we age long term care is something to make sure you claim for quickly when your assets being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and an average cost is expected to increase to 169000. By the year 226. If you or a loved one are faced with an unexpected nursing a mistake and you haven't done your planning yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years and they put together in new guide for this month called planning for procrastinators. It'll are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. Hi this is very Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention to your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934001. Or you can connect with me online at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out liter bank is offering in east savings account providing free online banking with -- one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't Dele log on to leader bank doc can't get all the information about this great offer and sign up today before the rates change -- 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 its leader bank dot com leader bank a step ahead. Member FDIC a minimum Alex fees may reduce earnings -- subject to change without notice and may change after an account is opened the calendar has turned and a new year is here it's time for us to reflect back on the year that was and the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into twenty team the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 -- a great deal of promise and Everett a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Security suffered two securities America incorporated member finreg SIPC and advisory services over the securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities American companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Vote on our daily poll question had financial exchange showed dot com while you're there buyer of the media player and watch the show while you work. This is the financial exchange radio network. If you're on the go you can still keep up with a financial exchange on the I heart radio app. Available on your phone or tablet just searched the financial exchange you can hear individual segments or force shows. If you can't listen live we've got you covered on the I heart radio out. Joining us now from Bankrate dot com is Greg McBride here to talk about expectations for the Federal Reserve this year and Greg thank you for joining us. Happy new year thanks for me absolutely Greg let's start first with the big question never wants to hear. How many rate hikes are gonna have this year. I'm forecasting three which all he'll mimic what we signed 2017 so I think it's going to be an active year for the Fed and one where the cumulative effect. Is mounting we've had five already. He attacked another three under that you know it starts to make it make a difference to councils when they see that you know credit card or home equity statements come in every month. Now what kind of events could potentially. Increase that number of rate hikes what what could happen that would you know cause just end up with 45 Alex. I inflation I think that's the banquet is inflation picked up faster than expected. That would be. The primary catalyst for. Pushing the Fed can do more aggressive stance on Al couple other possibilities a B feel there was. You know strong evidence of an asset bubble that might prompt them to be a little bit more aggressive and rates now at its economic growth. You know really surprised that the upside if we were expecting it to strengthen to begin with but you know a bit surprised and then you know really exceeded those expectations. Back to do it but you know above all else I think inflation the number one fact. Greg any insight is it as to why we haven't really had any inflation to this point. I don't let it several possible and it's one that even the Fed is and a you know grappling with but. A couple things that you know. Come before that productivity growth has been. Abysmally low near zero levels and so you know in the slow growth economy we've had over the last eight years. When the pipelines not growing very much and you're not getting more out of existing workers you have. You know makes it very difficult for employers to pass along higher wages and churn out that wage growth has been part to come by. I think that's you know that's a big part of it you know we get better productivity growth that's the good catalyst. For be seeing that pay raises and those they races. In gender or higher level of spending and I think would push inflation up two levels that the get more comfortable. Greg when I look at your forecast what these three additional rates mean and and looking ahead to. Different numbers like mortgage rates and and etc. what thing that kind of got my attention as I wonder why you think. That yet at the end of 2018. After three more rate increases. But the average one year CD yields would only be zero point 7% why would someone get a CD. At zero point 7%. After like a half dozen rate increases. Well most banks are not passing along higher rates the sabres. And when they do they tend to be very stingy. However that's an average never settle for averaged there are much higher returns available. You just have to be willing to to shop around and you can do that's basically batter so. You know they average one year CD. I see ending the year it's zero point seven the reality of but it is that your shopping around he could probably triple. Quadruple that return. You know by by speaking out the top dealing account. Course we have a list of Bankrate dot com and best deals only nationally but in your neck of the woods as well. So we might see more for spreads downwards and you know what it was a 0% rates. Everybody is pretty much kicked it out zero this year where there really is a reward for shopping around him. Well if we ever want is growing I mean and a report. Existed even when rates were at 0% levels at least savings accounts or paid 1% when everybody else was paid near zero. But when rates are well it's like the court and get press. As rates go up. Your right and at the accordion expands and you get. A greater dispersion of what's available the marketplace so the reward for shopping around is something that BP continues to Europe. Greg we know that credit card debt is at an all time high is there any concern that as rates ticked up some people might not be able to afford their payments and we start season defaults. Well that's a credit card that there's a lot of flexibility in terms of the payments because. We have the ability to make in minimum payment you and even with rising interest rates it doesn't really have much of an effect on that minimum payment. And so. I'm that's not necessarily that it's going to trick somebody into delinquency. Particularly that I'm moment job market is so strong but it nonetheless. A lot of household budgets are tight. And would wage growth having been hard to come by is seeing it instances where delinquencies on things like auto loans for example. Our kicking up or for consumers that sub prime credit you know their credit card. Shall higher rates of delinquency so there's evidence that households that are already pretty strained. Are straining further which rates going up. But your forecast does call for more tranquil year for people more concerned with longer dated debt things like mortgages you don't have them bumping up all that much. Now I had made up about a third of a percentage point that by the end of the year right now that thirty year fixed there's about four point 15. By the end of the year I've got that four point five but I think it'll be a volatile year bowed down and up I think mortgage rates are gonna. You know fluctuate pretty wildly during the year but by the end here now I don't I don't think they're going to be at a level that. Any kind of headwind to the housing market. You know it's it's not so much that said the dictates mortgage rates its economic growth that the pace of inflation those of the real driving. Or 64000 dollar question is is what we're seeing right now kind of a catch up because of the emergency rates and I wonder if as we get as a 2019. Then the macroeconomics. And policy will really be significant you'll take a stronger economy to get higher rates weaker economy for lower rates what's your take after we get beyond this. Catch up period. Well I think you know we economy's gonna get some extra juice this year from tax cuts among other things. And you know that it against factors into this forecast and an active the inflation. Picking up a bit. And twelve months from now you know the concern could be. Something the opposite of what it is and it worked today expectation that the economy's gonna grow. After it's gonna pick up the pace. Twelve months from now we may be a little bit more concerned about slowing of the economy because it's at that raises rates three times this year. We get to the point where the Fed Funds rate is and above the rate of inflation rather than below the and that's significant because. Instead of lifting your foot off the gas pedal. That would then be actively pressing on the break. Are good Greg thank you very much for joining us and we will catch up with you soon. I extract absolutely that's Greg McBride from Bankrate dot com you know it's it's interesting looking at fed policy and one thing that. We also have to take into account is. The selling off of baskets on the Fed's balance sheet. That's witches are tightening. Which would just tightening and in that they've been at every pulled off marvelously and they've been very slow and very deliberate to this point they I think they announced they were going to be tightening that bounce seed when was about three or four months ago and it very very slow they hold they've you know reduced by about 1% to this point so it's been very miniscule and we expanded the balance sheet massively during the crisis everybody several once this gets strong watch out. The Fed has done a marvelous job in communicating the slow way in which it manages to try to run that off so far so far so far so good they've done a very good so far and if you look at it back prior to the financial crisis. The Federal Reserve if you go back to you know 2007. To about 876. Billion dollars in securities right. They currently hold about four point five truly. Which yes I mean so it's more than tripled exactly so it's it's going to take a long time they may never get back down to where they were right. But the question is how will how long's it take is just get down to a point where. We can at least use that as ammunition if anything were to happen is rates are so that we don't have a whole lot of movement there either and again assuming there's not a downturn that's not a problem what happens we need to go to the well again and already this far deep that's why we need to start making progress exactly so. I'd like to see it and I think in this economy. Oh I'd I'd like to see a quicker pace of rate hikes personally I. Public to see 45 next this is the luxury the Fed is going to be it would take advantage of a stronger economy help us get back to normal and so many ways that we should do it quicker while we can yeah so you'll we'll see if we're making any progress on that front. And you know. As we go one thing that's interesting also is just how this affects valuations of the market goes theory raising their risk for rain all the Senate's. If I can get you know 3% on treasury one Imus in the S and it's yielding one half. That's going to be that the big challenge is this is going to be the year rhythm with a fixed alternative. Is going to be somewhat legitimate up until now it's been a real easy call by get a two and a percent dividend yield gap. I can deal will volatility of my stock is you know what that's more usually get a much on your treasury well. When the ten year treasury gets nor the 33 and a half percent and all the sudden and we end up with a more balanced approach and fixed income becomes more attractive. Something to keep an eye on in 2018 gets it it's been amazing to watch just how much the the yield on the S&P has dropped since the crisis started mean it would have a 18 now right. I will think well maybe a touch below that he ya and I mean there were points where it used to be if you work. If you were stocking the S&P paying dividend. The dividend was north of 4% right in you just have a ton of companies that to partly because they've run up their yielding one and a half one and a quarter you know it's like what that you. A year ago was it two and a quarter percent dividend now it's one and a half so it's a little less of the slam dunk and it was to me when you're when you're getting the ten year treasury at the same as the S&P yield yup that's a pretty much a slam dunk is that says if you buy stocks. Go nowhere to gun owners died yet go nowhere for ten years and you win right. That's pretty good bet now it's thought it would trickier quick break here when we come back talk about Spotify being hit with a one point six. Billion dollar lawsuit. Right here on the financial exchange radio network. The financial exchanges and live on FaceBook so make sure 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. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense. Give leader baker Colin learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank a step ahead. The calendar has turned and a new year is here it's time for us to reflect back on the year that was and the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and -- a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You are better than one that everyone knows that that's where offering to Alan's group one ticket. You can add cash and a wild cat mounts in the same day Imus. They're just twenty minutes apart in the number ones found in meat. Q now and then once again WR downhill this winner at added tax and wild cat mountain. Dot com for more information I everybody it's Barry Armstrong and I'm joined by estate planning attorney Todd what's key from law firm Cushing and Dolan. We're talking about last minute planning techniques that can help seed your assets from the high cost of a nursing home. And Todd here's a question I have Korea. What can be done last minute. To exceed your assets if your spouse suddenly has a stroke and is. Permanently confined to a nursing. Yeah and it's primarily about your home. You know that's the big asset that you once you're always welcome bid if you've got money in CDs or brokerage account her diaries I mean I'm concerned about all. We that's a good point that you could Lou 'cause it's all at risk I think that's a point here higher raise that risk is CDs or risk your brought together terrorists everything and so many people don't think that's the case but it is. So I can tell you first and foremost it's easy for the house as long as the spouses living as they won't take it. But the house and her name doesn't have matters while you ease right please don't stop there because if you get sick in the house is at risk but at least two dodged a bullet. The bigger issue you're right areas all those dollars rather IRAs or not. And really at that time you you're probably looking at one of these last minute Medicaid in new techniques is even for a diary you can even for an IRA you may have to pay some income taxes to get to where you want to be. But you know ominously 141000 dollars a month and pay the tax god so these these last minute annuity techniques. To put all the money into an annuity and how to pay out an income stream to the healthy spouse. Will get you there are plenty of that not the best way to go here you better off doing advanced planning but there are last minute planning techniques can take advantage or. Call Cushing and dole and 8668485699. That's their phone number you can download. In January guide by simply going to legal exchange showed dot com that's legal exchange showed dot com go to that website. Download the guide today or call 866848569. Like us on FaceBook and follow us on Twitter pax TFE show. Breaking business news is always first break here on the financial exchange radio network. Spotify the digital music streaming service giving it was a one point six billion dollar lawsuit yesterday John you know issued by wicks and music publishing claiming that Spotify was using thousands of songs. Without a license. And they were not compensated. So they're they're claiming it's like thousands of songs. Including you know people like Tom Petty. And to the number of other artists who they said that they weren't being paid for Spotify declined comment. How do you not get licensing for harm petty stripped of the top artists of all time candidate licensing rights for that and there was a dummies a long list of other people you know Stevie Nicks is another person or several people on the doors the doors. And we user. Flop you know again he's not talking about late Jim's ban delay right these it will actually technically the doors is Jim's band but it two point. But yeah it's an important you know big big songs big names in. Bait and have licenses and apparently earlier this year at the same company agreed to pay more than 43 million dollars to settle. Another class action lawsuits though. The fact that that happened before. Your previous offender and they declined to comment. You know got to read flights due to devote you guys use streaming services chair. I don't you don't about I use a why not I use the Lexus sometimes but the how come. I'm I. I'm old fashioned I actually have like a list of songs that I downloaded and paid for that are on my idea what I iTunes is on them yeah. And I I thought I know it's so it was so I do the same thing actually I I don't subscribe to any streaming service Susan we knew chuck. And Zambrano I don't use. Malaysia it's heart it's free with your prime so I don't use it because I feel like devalues the artist contribution to music because they get paid out next to nothing. For those plays so you don't listen to so I like I go in I don't buy CDs you know hard copies but I'd buy songs and albums on iTunes or something similar. No because. These are people who are spending their time making this content in the streaming services if you look at what they actually get paid. It's like nothing it's like a thousandth of a cent for every play they get yeah. And most artists can't make a living and as a result we get less new music you know I grew up an era where everybody bought singles and albums. And there's a lot more new music is lot more competition I think. But the other side that is it's a chance for someone who can't get a record contract. To put the thing on YouTube and all of a sudden they're overnight sensation and there's certainly more than anybody but they still can't get paid High Court and if it and that's where I have a problem as it used to be. You wedge it you know. Go back to like the seventies you had to buy a record you have to go see someone in concert. And that's that's how you actually got axis of congress has done is given more people more access yeah but at the cost of the artists are getting or even lasting in the next item their chucked his YouTube is actually pushing. Exact so our artists so here here's the question says YouTube is trying to what do you think of this I put together of so let's talk about exactly what this plan. Yeah I mean it sounds. Like more of the same like we've heard before we ferber Buena promises. On revenue sharing that would make musicians money well. Right now all the paradigm is such that they share the money but they just get a smaller share this proposal. From YouTube would give I believe a larger percent of the money to the artist so it's taking. A business plan exists. And I think making it more equitable for the artists. And the other doubts about the way the system that we have the paradigm we have is that the super artists make it on. Revenue sources outside of the download oh yeah that they build to a concert it'll make a zillion dollars doing you know three shows at Gillette Stadium. But the problem is how many people can do three shows at Gillette Stadium so the wreck the rich get really rich and everybody else is running away you know pay for the launch. Well and you also you look at a lot of the smaller venues that local bands used to play the baton and closed down guy an economics don't make sense like yeah you click CB GB down in New York via. TT the bears in Cambridge like there's a total places that have closed down that used to be. That gateway. Four small bands to start to build a following and eventually moving to the the larger scale in a ton of those small police have closed down because the economics don't work for them and it's really sad because when I was. Younger I went to those places and I saw the cars before their famous. I saw Aerosmith as there's just emerging as a yes you know coming on the seat yeah we you know Boston and Detroit where three places that had all the up and coming. Great dance right got their start here because there were threat then used to playing. And people want pay to see them. We've lost a little bit that the EU certainly have and if there are still a couple of around in Boston you looking Cambridge obviously got the Middle East which is launched the careers of you know. On the band's. Is there any say OK so everyone's trying to put all the stuff on line but no can make a living off right and so I think there's more music today and more access. But it's it's tougher to stay in in that business longer yet. Or do you discover like new music nubians. Sure I mean through when or how do you do that through those streaming services or interest in general like in general like how do you do it like if you're if you're into discovery pretty much were from Alfredsson as early that's it and then we're here. I mean like get like the local club ya I like SNL use Amazon prime and if it's available on their that'll listen now way. But it just word malt yeah pretty much yeah in the world has changed him no doubt. I have a message on behalf of a leader bank and they have a brand spanking new offer here a great new promotion. That is involved in their relationship money market accounts and so you can save your money and grow your earnings with a great great when you open a relationship money market account with leader bank. The rate is one point 35% APY. For balance is between a 100000. In a million dollars and it's easy to qualify. You just have to have a 5000 dollar balance in a personal checking account leader bank. In a role in. 100000 dollar daily balance in your relationship money market account. For more information. Call Interbank at 8776917900. Or visit leader bank dot com. That's 8776917900. Or had a right to the website. Leader bank dot com take advantage of leader bank's newest offer. And grow your savings today. Fees could reduce earnings and a penalty maimed be imposed for early withdrawal leader bank a step ahead member FDIC. Equal housing lender. MoneyGram calling off their merger and the stock not doing well on the news. This is interesting week we talked yesterday about the long list of things that people worried about that would happen. In the first year for trump administration. Yeah that didn't happen and one of the things at the top of that list of things I was very concerned about. Was the relationship. Economically between the United States in the great country of China to great economic powers the two biggest economic power in the world to. With Libya collision at a trade war. That has not happened but there are indications here we you know we're wondering if this would be an issue. This example of United States officials effectively killing a Chinese companies plan to buy MoneyGram. And it is signaling the trump administration's growing skepticism. Of Chinese purchases of American companies. And it does show that our regulatory agencies are very concerned. About China getting a foothold. In our financial system this is a very small example jock. But it is an example of an issue between the United States and China on a very small scale well. And in this company that was going to buy MoneyGram is owned by Jack Marr who runs Alibaba right. He's kind of a big deal would be PO on a mild way of putting it he's worth about 3839 billion dollars depending on the day of the week and so. If someone with him and his connections can't make this deal happen. It doesn't really look like anyone's going to be you know anything and boy is Jack Bob made an effort remember right of the trump was a sworn in I saw Jack Ma right there are trumped dollar. With his arm around Donald drop in racing it was like. This is my body I would do everything I can edit try to get those guys good side. And the first thing they did is you know the drug administration signaled Jack modest. We're not really cool and some of these deals like you know mergers involving sprint and T-Mobile you know things and create a less competitive environment. And here's another example of you know Jack Mon not getting his way. Despite trying his best. Now some good news for Jack Marr is that his mobile browser that. Really doesn't get used here at all. He is growing incredibly quickly this is the UC browser which. Is growing. By the hundreds of millions of users in emerging markets LE Bobble owned browser it is now top Google's Chrome. You say well yeah of course it's you know on their home turf in fast growing Asian markets. Users are saying it's actually you're really good browsers they talk to one a twenty year old who said it's faster takes up less memory. Looks better. And you know this is a twenty year old who compared the Manson is it's it's a better mousetrap so you know they're they're doing doing well. Yet they are they account for about 51% of India's mobile browser market. 41%. In Indonesia so you know they they've been able to pick up significant market share. In a hurry in a lot of these countries so it's been interesting to watch. And obviously again the good news for Jack Ma where if we can get some on them merger front today. But a little bit of good news for him in the the mobile browsers so bad news for us is allow those search results like we're going to show less US companies yes when you're looking for now I'm not you look at for art. You know US coming for pizza. Flipping in China. And hugs probably there amid it's probably not sure yup they're gonna show preference KFC yet he never heard anyone. Exactly but you know when you're looking for chicken chances are that the you know local Chinese company is gonna coach Joseph up ahead of KFC which in this case probably good thing. Prop also due to the Chinese food you don't really look for Chinese food in China food. Looking for American as well as he is right and I'm just looking for food and I'm just looking for food have good Chinese food to. Let's let's take a break here and when we come back. We talked about GDP growth next year right here on 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. Days financial exchange radio network. 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The calendar has turned and a new year is here it's time for us to reflect back on the year that was in the year that's to come hi this is very Armstrong and I'd like to ask you to reflect on your financial well being and your investment strategy as we head into 2018 the markets while still volatile were incredibly resilient rising to heights we've never seen before in spite of challenges that still exist both globally and here at home 2018 holds a great deal of promise and Everett a brand new guide that will help you look back on the successes we've experienced and the failures that we need to correct in order for all of our portfolios to remain strong and to grow it's called the 2017 year in review and 2018 forecast and you can get your free copy by calling 803934001. Or download it right now at Armstrong advisory dot com. Securities operative securities America incorporated member finreg SIPC and advisory services -- for -- securities America advisors incorporated Gary Armstrong represented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state as we age long term care is something to make sure you claimed for how quickly we your assets being depleted if you had to write checks to the tune of 141000. Dollars every month according to Genworth the average cost of a private room at a nursing home in New England is 126000. Dollars per year and an average cost is expected to increase to 169000. By the year 20/20 six. If you or a loved one are faced with an unexpected nursing home study and you haven't done your claiming yet before you write that check picked up the phone and call the experts at Cushing and Dolan at 8668485699. Cushing and Dolan has been helping families just like yours protect their assets for more than thirty years and they put together in new guide for this month called claiming for procrastinators. It'll are for you strategies that can help educate you on the steps you need to take to protect your assets and your family do not put off this call any longer get your free guide today by calling 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed judge -- Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should talk we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. 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. Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The same. We don't adds ten pounds. But don't tell Barry in jogging the financial exchanges alive every day on FaceBook and YouTube this is the financial exchange radio network. Getting into when he team has been an awful lot of talk about weird GDP growth is going to end up for the year. JPMorgan's chief strategist saying hey we can get. 3% this year but. Also shore again this is an annualized basis or he seemed 3% a couple of quarters and we may or may not hear it again this quarter. But JPMorgan sang half for the year we might get a 3% year may be in 2018. But after that. We probably revert into the tunes more sustainable 2.3 2.4 percent in the reason I'm site is something we mentioned earlier this year. They're very concerned about productivity which flattened out and stopped going up in what the keys to prosperity long term. When the keys to growth in the economy. Is to continue to grow productivity. We're waiting for the next big thing you really realistically you have two different levers that you can pull to grow the economy. You work more hours and reproduce more in those hours and productivity Uga the last five years we haven't had a single year with productivity growth above 1%. Since 2010. And that's that's a challenge and part of that is we're waiting for the next big thing in technology because one of the breakthroughs force. We've seen repeatedly is that every ten years there's a big breakthrough technology that helps make us more productive whether it be the years ago the Internet. We've seen robotics which has been slow to catch on like Hollywood it's going to be John what's going to be. Law change watched. Block Jane for burger in case you missed the the first segment of the show today. There's a company. What what's her name of the chance to clear I think it is but it searched a chain of nine who orders it to nationals and burger just can't declare holdings is a company worth ten million dollars so next to nothing. And their stock Diop jumped about 50% yesterday. Because they announced they were going to have a blocked chain based rewards program every time that you got some wings of hoops and we again we thought about a listener rewards program along those lines which are considering what we've we have what we're going to do is we're going to give you nothing. Because that's the exact same that this is that it's it's the exact same as what these blocked chain pointer going to be work with when you have a company that is giving away. Bloch chief rewards whatever that means every time you buy a hamburger. Would jump the shark at this point but again. What we're we're looking for productivity enhancing ideas and you know blocked Jane right now obviously is. Something we're talking about would likely would not add to productivity but we're looking at you know probably reversion back to the 2% growth area. I guess the only consolation prize here chuck is a lot of these budget deficit numbers we hear that are kind of dire. Are assuming like one point 922%. Sustained growth so we can get a couple of 3% in there. The budget numbers that you've seen book that I'm really awful may not be that bad if we could get a two and a half percent sustained. Growth over ten years. We might be looking at not having a penny to our deficit which would be nice. To our debt. Need that productivity growth or you need more people. So those the two levers that he can pull realistically so. One of the tube you you've got to get one of them and we've got to moderation a population growth to and the birth rate has declined quite significantly so. Pretty much every airline out there right now is issuing travel waivers to anyone flying into the northeaster out of the northeast on Thursday or Friday. This in expectation there in anticipation. Of the the the big storms can become through the next couple days you're looking at the city Sears not just Boston it's really up and down via the whole East Coast who worked the in New York airports DC pretty much the whole bit it you know. Airlines do a lot of things poorly but one thing I will give them credit on they've done that come along way in this whole issue of allowing people reschedule. And giving bonuses to you know crediting you for future flights what do I really like about this offer by delta and I don't know onto this is that not used before. But they're not only allowing. A fee free change of plans which is great men and bottle it looks like right now all the major airlines that are flying in the east coaster doing things are checked with the carrier. Think they're doing is if you key rescheduled that trip it's like I gotta go two days now three days now yup you can actually get a voucher. Good for the entire unused value of your regional ticket. Which can be put towards any travel anywhere near anywhere within a year yeah I think that's a good thing. Yeah man and pretty much all the major airlines have by these these programs out there now for the next couple days. If you take a look I'm pulling up budget stalled the the different ones that are out there right now American has a jetBlue has an jetBlue just came a little while ago with there's young pulled up to fifty airports depending on the the airlines that are out there but Alaska Airlines American has won at their dealt. JetBlue frontier southwest spirit. United. Check just because they'll cover slightly different airports. But. Generally all the recovering Logan out of Boston's own number covering up Providence is well so. And depending where your flying to as the forecast continues to fall to looking for other airports to be added to this list. Again there's some airports there on the peripheral of the storm. There right now may or may not be affected but that that list is expected to grow. As the storm gets closer and don't mess around the storm by the way it's gonna be if it can be rough on. Journey we're specially along the coast these gusty going to be up to seventy miles per hour this is going to be like about a foot of snow. Travel because of liberty island it prime travel conditions all day tomorrow to be like wideout you don't wanna be out there. And I hope people don't lose the power because in the backed into this would get negative fifteen degree Temps coming in three and southern New England for the next two days yeah. And so. Flooding is possible to yeah. Around mid around midday tomorrow high tide is around 1232. Point that's going to be pretty ugly so there's a lot of reasons to be concerned stay safe don't get out travel if you can't because you're not going to be able to get around. The show goes on for us the talk always here where nurture work we're going to be here probably I'm probably appear like 5 AM just to avoid all this stuff in the morning. What has disposed starlet went to 4 AM before I let you okay. In earnest for him but it's actually start nodes indeed it's gonna start around for a look at it ended the peak is supposed to be somewhere between. I believe 9 AM and I think 2 PM so you don't go to work tomorrow has to be pretty bad through seven legal go to work tomorrow. Twelve inches of snow sixty mile an hour winds Chuck Daly permission don't do it if you need to note let me know already one idea to note that. Talking you know get a note to him. Don't time we have today we will be back tomorrow so when your home yup make sure you tune in. Would back tomorrow on the financial exchange radio network.