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Full Show 2-8-18

Feb 8, 2018|

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Congressional leaders say they agree on a budget deal and folks you better learn about modern monetary theory. Because austerity is out the window of the deficits and a big rise like crazy. If you understand them and teach you may or may not make you too nervous. The other story we have we have two ex big stories that we're gonna dig into in this first hour today one is the budget deal in the impact on the deficit and whatnot. The other one though. Is the very rapid. Transformation. Of the grocery business I can't emphasize enough. Would whole foods and Amazon are doing is going to change the way we shop for growth trees hi everybody it's Berrian talked with you here. On a Thursday morning. And we got whispers of this budget deal last night before went to bed but. It was done and it appears as if they're gonna have votes what's interesting is. You've got Nancy Pelosi who's going to be opposed to the deal and mark meadows. Strange bedfellows you know I thought yeah I generally don't see the two of them on the same side but it appears that you're going to have them on the same side here for different reasons obviously but both of them. Opposing this deal in two to give me some details on what this deal is this is. It's it's strange in a number of different ways the first. Is that it is a two year deal not a one year deal that's that's pretty unusual to see here but what it does it raises federal spending. Almost 300 billion dollars over the Prius that was limits. Over the next two years so a significant. Bump in federal spending. It is a two year deal as I mentioned. And as far as you know what's in here. It's pretty much everything and the kitchen sink actually mean there's there is nothing on paid for in this deal. You are pretty much saying look we can't come to a deal in terms of cutting out programs that almost like let's just throw everything in there and see what happens at that time it feels like the approach they took out. So I'll ends you know when you look at the impact on it. If you're deficit hawk your beside yourself be only literally in what is the deaths of twenty trillion twenty knots. It just this spending bill is going to be another trillion on taught not to mention the interest. Did this just this extra spending is a trillion dollars this year. It's over trillion dollars in 2019. And it'll be more than that in the ensuing years that they continue down this path I think what they're doing. It is at least this is what got my interpretation is and you can correct me if I'm wrong. They are gonna get this economy going and foreign 5%. Come hell or high water it's it's it's not gonna do for 5% to topics on that there's not that many people you can hire neo you know like we we know that there's not enough people hired to get it to that rate. Immigration reform. When we gonna see that. At that would be the answer though and I'd do you block you get all this budget stuff done in the in say the eleven million people expect. Here come out of the shadows we're gonna what you pay taxes that's Howard pay for. I think I'm gonna get an immigration. I'll believe it when I see at 90. I'll I'll I'll weave when I see it but. The big things that you're senior military spending eighty billion dollars increase this year 85 billion next year. Domestic spending up 63 billion this year and 68 billion next year. Specifically targeting some pretty key areas six billion dollars to fight the hope you're an epidemic from four billion dollars to improve veterans' hospitals two billion dollars for National Institutes of Health. Not twenty billion dollars over two years. For infrastructure improvements. So a whole bunch of different pieces 120 billion you mentioned does not include the one point seven trillion. That they wanted to do for an infrastructure package later this year this is the kind of thing that if you know obviously you you talk about what this means from a in overall fiscal perspective. And in I think it is going to have some significant influence on monetary pals is this the kind of this is the kind of spending bill. That's. In theory should make the dollar weaker while the here's the thing that monetary so I think what you're saying is that you cause the Fed to raise interest rates. In theory because here's here's how you look at it let's say that I'm someone who is sitting there in Brazil right now and I run a business and I need to own dollars because you know of how I run my business. I don't want to be getting paid two and a half percent on you know on the bonds that I hold. But at the same time lose five or 10% a year in the currency trick or that's not a good business for me used to be the other way around so what you're gonna see is foreign bondholders who. You know there are significant they own about 35 to 40% of US debt for bondholders are gonna start saying look unless you start to pay us more than were gonna start selling our treasury holdings and asking to drive interest rates up higher so either way. You should push interest rates up and what the concern is is that at some point. That starts to have a negative effect on the US economy there's this balance that's struck. I I understand and and the UC raise interest rates. In an effort to improve your currency. And maybe slow things down a little bit is that we've done in the path well in in this is that that's the action of the Fed. In the past when you've had runaway inflation and Paul Volcker that's exactly what he did is he said look I am going to preserve the dollar over all else I'm gonna Jack rates at 20%. Yet the domestic economy is gonna be you know awful but we had crazy inflation to. You did but here's the thing is remembered for the last. Few years the US has had a hard time convincing foreign debt buyers and to go out and buy additional debt they've kind of been you're treading water. All of a sudden you're kicking all this additional debt out who's gonna buy yes that that's the one thing that I look at here now do I think you're gonna have to raise rates in 19%. Not necessarily but I have to cut expenses to listen. It's well it when you talk about cutting expenses the biggest long term drivers are still social security and Medicare Social Security we can fix relatively easily raise tax no one has figured out a solution for Medicare. Be the answer to eat they've just hit on by accident. You used. You you got those two big budget items race social security and Medicare in that he get the economy going yet virtually no unemployment. Rate if you want a job today there's no excuse to not have a job no. So what do you do you say you know. We're gonna take the cap off the Social Security rich you make it if you're Tom Brady knew make twenty million bucks a year you're gonna pay that seven and a half percent spike in attacks on the entire thing and buy away your employer's gonna pay the same thing right. And we're gonna make instead of seven and a half it's gonna be in the quarter. This Social Security problems don't eat you no longer have a problem social or Social Security again it there are easy fix is so secure Medicare is easy to me Medicare is not what is the taken out your pay for Medicare now. Was 2% or something like that I think the grosses 330 yeah and one and half a year pay and one half on your employer same thing you say. Hey we're we're gonna raise Medicare taxes I I think that's what's gonna happen because and when you do that you do that in hot economy. You do that when you have Millar play you do that when you have strong wage growth we're just starting to see the beginnings of strong wage growth. It in and this administration. Has demonstrated. They the they throw the playbook right. Do with this budget is this is not a conservative Republican budget knows this this is pretty much if you are a deficit hawk this is your worst nightmare right. It in and a lot of Republicans have a problem. Depp in it it into I think that is the I think the this easy solution to it right. Raise the payroll taxes here you raise your Social Security taxes and you raise the Medicare taxes and you're done. Yep I just that we can say he didn't raise income taxes if it. True you know he's walkways and the idea but an in and honestly the Social Security thing if you just get rid of the caps on. 85% of America doesn't affect the right right now if nobody's gonna feel bad for Tom Brady have to pay higher payroll don't night nobody nobody gonna feel bad if Carl Icahn has to pay higher payroll tax which they're going to dump it's it's true it's kind of like me you may remember how upset I was about the property taxes and being capped at 101000 dollars and in the mortgage inched its haven't been. Best vast majority of Americans would what percentage of Americans have property tax those greater than 101000%. 57%. Now what. What percentage of Americans have mortgages of a million bucks or more. 34% ninety military doubts Tyreke and and and the attitude towards and is well they should be paying more anyway even though they are already our panel taxes. It's the it it's just an easy way around the saluted all earned you have the solution all of this is if you have people who you can train up and get give them skills that they earn more than you can have a more equal distribution of taxes but we don't have that train all people to run robots. Robots from the people right yet you have to train everybody how to run the robots they coming up we're talk about Amazon's. Acquisition of whole foods which occurred last year but what did. They announced yesterday. And I can tell you this is creating a buzz just in our little office here rift 25 employees this is creating a buzz now if your. Sixty years old and you're an empty Nester in seven years old and you're retired. And you say to yourself while I'm companies that I'm just gonna go to the grocery store and now with staff that's one thing that tickle your kids. Take a look at your grandchildren in the way eBay live. You know the dead modern household today if you look at shock who's in his thirties and talker who's in his thirties. They're both married to working women and professional women who have careers and I can tell you. The career day today it you know they generally leave for the would be office you know normal hours might be to leave at seven get home at 6:37 o'clock. Grocery shopping is not real high on the agenda. So we're talking the next segment about Amazon. They're acquisition of whole foods and how they are transforming the growth for business that's next from the financial exchange radio network. Like us on FaceBook and follow us on Twitter that's TSE show you. Breaking business news is always first right here on the financial exchange radio network. Hi this is very Armstrong and I've been telling you for weeks that a market correction may becoming the volatility we've seen in the market over the last few weeks has been unprecedented the gains made in January are gone and most experts believe the roller coaster ride may just be beginning if a high degree of volatility is making you nervous don't hesitate to give me a call have been helping my listeners with their financial planning needs for years and I'd like to help you too if the roller coaster ride of the last few weeks makes you uncomfortable give me a call at 803934001. And all review your current portfolio for free at 803934001. And the appointment will take about an hour when you give up an hour of your data help you make better informed decisions about your investment strategy called me today and set up your appointment 803934001. That's 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Advanced to state claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from Cushing in Dolan post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help YouTube only 668485699. Or download the guide had legal exchange showed dot com. Arab strong here and I'm joined by estate planning attorney Todd Lipsky from the law firm Cushing and dole we're talking about motivation to create in a state plan here's one. How Todd can somebody. Insure. Then an ex daughter in law or an ex son in law is not going to take. Half of my child's inheritance when I die in the event that they got a divorce you know I don't think I sit down at a client meeting. And this doesn't come. Rate beauty do you bring it up Purdue the clients are. I think it's a combination of balls but but once you mention if they don't mention that always think about after death while I know and when you mention it. They jump on. One might spell out here that lower divorce is so prevalent I guess that's the pro and here's the worry right. You guys you both you leave each of your children half a million dollars right. And then three years after you're gone they get a divorce. You're gonna lose half a 500000 dollars on a good. And so what we try to do is inside the trust again another family reason to do is they play a non tax reason to do an estate plan. And and we inside the trust we create its shares for the children and we have independent trust me if you will making one decision only. In that is in their sole discretion to make a distribution to the child. Short of the children. And that sole discretion provides all the creditor protection that they need from the divorce in the future. I don't mean to lecture but it's a good idea decree and state plan and keep your assets in the blood line. Avoid having your state go to ex son in laws are ex daughter in law's call Cushing and dole and 8668485699. Call 3866. Eight Horry 5699. You can download the guide on the website legal exchange showed dot com. Or call whole free and do it now 8668485699. Security suffered through securities America and members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange with Barry and chuck is live on FaceBook and YouTube every morning beginning at ten this is the financial exchange radio network. Early this morning Amazon announced that they will start delivering groceries. From whole foods via its two hour prime now delivery service this according to the e-commerce. Giant. As announced this morning and I can tell you in Mike limited conversations. With listeners and people I work where this is receiving very positive. Reviews. Yeah when I'm curious about is what kind. Up uptake they really get on this how quickly they're able. To capitalize on because this is obviously a big deal for this is probably one of the major reasons why they bought whole foods is to get access to effectively. All of these distribution centers and high income areas around the country in you know the let's let's just talk about what you said there high income. They're targeting the whole foods only has what 500 source 360 I think. In a limited number of stores but if you look at where they are strategically located. They are located in places with lots and lots of money high income areas yet there's a great website called in post scout that talks about. Effectively that the gives you a lot of demographics on there at their buyers okay. Here's some interesting things about whole foods buyers. In terms of the number of people making twenty to 40000 per year who shop there there's 61% of their category average so they only get about half as many people. It at that income woman as other grocery stores. They get a 124%. In the 100 to 125000. Range and they get 230%. In the 125 K pos so. They have more than double the average number of shoppers who make a 125000. Or more in their stores than the average grocery store. So the way the program works as I understand is you pay a hundred bucks a year. Right photographer got so it's it's it's you or Amazon prime members so it's you're not paying just for grocery grocery delivery jumped it ultimately not an additional charge on top you know I was you know you are you worried prime member you get free delivery in two hours now. They're rolling out in four cities to begin with Austin, Texas Cincinnati Ohio Dallas Texas and Virginia Beach. Cincinnati Ohio you know that's a headquarters for Kroger. Is it. And very interest it's a shot across the oh it does not trust the ballot you look at Kroger stock it's down a little bit today but. Has done nothing rate last year I didn't know chorus headquartered in Cincinnati now let's step point shot a krona. The day in and and think about it. All the stores want that high in consumer right because you know the high end consumer margins. They come in and they buy stuff and they're not check in the price tag right they're not looking for the bargains and not redeeming coupons and they're just coming in. And they're saying 92 pounds a swordfish jets' twenty bucks a pound I don't care it near near. The that's how they shot. The other thing that impresses me here. Is the hours of operation at the gonna have these eight to 10 PM so it's it's not you know even if you're someone who's working late to lake seven rated night. You can still say give me 9 o'clock delivered isn't gonna make dinner or give me a you know roast chicken when I get home now. In its delivery to I just think about young families that are raising kids right. And dad the plumber mom's a nurse and you know she's working and she think she's getting off at noon and then they teller only a couple of double rate you know and get off until eight. Was no food at all. Right what does she do. She says okay and you five minutes she goes to or fold. She orders are prepared meal to deal be delivered to her her home because she knows her husband's gonna get home at six the kids are getting home at 530. In and foods on the table yeah I mean I. Think that you're going to see this used by again if it's going to be primarily. Wealthier folks who were able to use this year. But I think it still is going to be as I see the prepared foods being a big thing and just turn your your staples you serial a year I toilet paper milk things like that you're not gonna buy. Onions here united by tomatoes. Now here's the thing is the I think you will eventually track because I think they're gonna scale this business but but I but I've. I will not buy a tomato without touching it for the mom. Who's involved in this is gonna relies too Ocalan and I have to work a doubles American home till eight tonight. I also don't have any milk in the fridge for the kids breakfast and I had Aaron in Syria but that's different from programs I I do not think they have produced figured out and that's fine if they don't need to you know the thing is out. Whole foods is such a high end product they still have apple on their shelves people will I think consumers may trucks. To deliver but tomatoes but I've been a whole foods I know that they have stuff that isn't that like occasionally you'll after nearly while that lettuce looks like are definitely paid a tomato is lake multi on the quite a bit don't they should've used like feedback. They can provide and do you think a company like Amazon is gonna recognize that and say we can't deliver. Bad tomatoes and we can't deliver soft grapes that we can't practice film never due to bad to be exact. In the EEE you've got to have a situation where. You're delivering high in practice and people are gonna pay a mean whole foods prices the reason they can do this inclusive of the 100 dollar membership every year. Is their prices are already so inflated. 10 they've they've come down along the that they cut it down there and they do it I have no doubt their margins are weak. Amazon runs effectively is zero margin shop Amazon is built to run in the half percent march march and so. I think initially this is going to be some that loses money for them well I don't I don't disagree I don't think they care about I don't think I think they want to shop and stop. I think they want to put. Wouldn't call shop and stop the Eleanor. Shaw's market basket matching your market basket and and you're you're gonna lose the top end of year the high margin business. In in the big thing is Amazon has all of that cash flow from Amazon Web Services. That they can just pour into the saints say look will lose a billion dollars a year while we get this up and running. You're the grocery stores don't have that you're the grocery stores are running 34% margins anyways they don't have billions of dollars in cash flow. To counter this and so this is. I don't think today but I think over the next decade is Amazon figures it out in in hones in on some of these areas. This is an existential threat to the traditional groups aren't they already the leader in online for free cells and as I believe Wal-Mart news. Not on not in terms of online delivery. And look it up they assume you know be Amazon's Horry mean I just. I think this what they're doing issue this year and twenty teen is they're testing out these four markets to your point Austin Cincinnati Bell's Virginia Beach. But then. Why wouldn't they go to New York City he wanted to teach what's in Virginia Beach can you imagine how much money you're gonna make just didn't in New York City and Mia yeah greater New York is. Thirty million people the one challenge I think they're going to have is how far into the suburbs are you going to ago. Because I I'm just kind of example where island. The nearest whole foods to me is twenty minutes away and probably not gonna deliver T. All I was affair from a prime member in a hundred bucks a year I don't care about fair it's not welfare it's about so it's just going to be for city folk you know. Yeah a lot of the stuff now is like that you know and there's a lot of services they get rolled out what kind of field Japan. I'm in a hundred bucks month should get the same service writes why why Virginia Beach. And on. Aren't hunched down Nam mom I'm looking through like I can't figure out why a Virginia Beach presents for the here I'm very curious as to the reasoning they do have a big major accident in northern average I was just say it might be logistic yep that they do have a big center right in that area so might just be that. I do predict push up the poll question Tucker I'm sorry. Secretary of our poll question today is are you concerned about an increase in the deficit in regards to our opening segment theirs or go to financial exchange showed dark comic Cheshire vote what's ironic here and an I don't think you should be concerned about the increasing deficit and the you'd need to be concerned and how they manage it going forward. But what is ironic is. The trump administration is going to increase the deficit at a much more rapid rate in the Obama administration. Is in which you if you look at the first four years and you compare than your years in the extra. It would that is our poll question simply go to our website financial exchange showed back up. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here 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 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 -- for the securities America incorporated members in SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online -- collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks mostly in the -- local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC if you're a landlord and are interested in having your bank -- does he ran technology Tillman McCall does he -- team at 781 at 6418691. That 7816418691. Or visit -- Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. Met hi this is very Armstrong and a speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. Going your federal income tax here's Wayne bigs executive director of EDA. This is a program us. Fully approved by congress has been in existence for about 45 years that we have several companies that are doing that currently and we effectively reduce federal income tax because we do of north Texas somewhere we use the federal forms with the money CC territory at a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if you're. Business owner looking for tax breaks to talk to the folks at the US BI economic development authority and learn how you can put incredible capital back into your business log onto their website its USD. IE DA dot or best US. VI EDA dot or. Advanced estate planning has many benefits including avoiding -- passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's -- a partner go off from a -- in -- -- illegal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing -- the state -- has many benefits but if you don't plan accordingly your short -- miss out fishing in Dolan is put together a brand new guide told the top ten reasons to do a state -- minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life for state call now for your free -- -- 8668485699. That's 8668485699. You can also download it right now from their website legal exchange -- dot com -- and Dolan has been helping families just play Georgia Thursday -- for more than thirty years give them a -- get their free guide and let them help you to call 8668485699. Or download the -- had legal exchange showed dot com. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now at our strong advisory ducked out. Securities are for two securities America incorporated member finreg SIPC advisory services are pretty securities America advisors incorporated Barry 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. Time now full mostly watch a look at the market's performance so far today you don't Marion jog right here on the financial exchange radio network. Joining us now for Wall Street watch is Mike Armstrong and Mike. Twitter second time in two days that we have a social media company with a little bit of a beat here moving up 20%. Yet pretty huge day they earned nineteen cents a share which is five cents about yes estimates that revenue also beat forecasts and their users are way up Europe for years the daily active users dropped 12% year over year an amount they act views were also ups are two pretty important metrics for the company. I've been across the board up six dollars after what was sort of rough couple years. On the other hand we have a local company iRobot based out of Bedford mass down 27%. Today. After a big run up in the last year's civil what's going on here. Yeah really tough missed on both earnings. For the prior quarter as well at 2018. Earnings forecast. Very significant minutes Mr. Spock like he says that 27%. Honest leaders they are expecting their revenue to cross have been a pretty big milestone billion dollars this year but. And not not to. Really. Help from the stock just tumbling today. Yelp. So Yelp announced. They're going to operating loss in 28 chain due to a lot of investment they're making in both marketing as well as. They have a applications that compete with Opentable so. Big making restaurant reservations and be investing a lot of fun to both of those so good they announced they re operating losses doctor on this is down about three dollars forty cents or 7% and. Good thank you Mike. That is Mike Armstrong with Wall Street watched he has didn't mention Tesla but the the the date posted earnings last night. And they are reiterating. That they're gonna say make 5000. Cars model three cars per week by the end of the second quarter of twenty team. Which I say prove that hey if if if you're gonna come out reiterate that the last time they said that was about. What maybe 23 months ago well the next benchmark before that is at the end of this quarters that's next month they're supposed to be June 2500 cars per we just hate do you think they hit that one. When he 500 a week. At the end of the quarter yet know. So I read in another analyst is an admittedly he short the stock up. He thinks they end up producing 40000 model threes for the whole year. Yeah I mean this is there there's a real risk of underperformance in terms of their production numbers here and in the problem with that there is burn rate chuck I mean they are burning through cash different through a quarter billion dollars over three months right now well it's more actually the the Bradley SO is they they take kind of fudged the numbers in Q4 of seventeen. From what I conceit. He is the they fudged the numbers to the tune of about 700 billion so I think there are 700 million I think they're losing about a billion quarter. Yeah I mean maybe it's a real issue for the men and here's the problem is let's say that you go into an extended period of market volatility. You can't borrow a few Tesla is there RD levered to the hell it is they don't really have the ability to issue that much more dead at this point they do a little thank goodness I'll have a million civilian you can't do five billion dollars and a tenacious stock you got issues stock. If you do that into a volatile market and who knows what kind of discount you got to take that you know like you might have to take a significant hit snorted issue that stock so. Tesla again they don't they have like the running at a tax literally they have to do something in the next. Four to six months that's about as long as you can go realist I'm surprised they haven't done something yet. So maybe they are believing they're gonna hit their 2500 per week in and its first core they've they've they do that. It if they can do 2500 a week for four weeks in a row. People might buy the stock. Yeah they they need to do again as he's had like four weeks in a row is pretty much what they have to do there at at that rate. I don't know if they can't I mean. Again the one thing that every Elon Musk company has had issues with them is heating production timeline it's it's not that he's not an incredibly Smart guy it's not that he's not innovative because honestly I do think he's the smartest guy out there. But there's a difference between being Smart in executing well. In the always been behind their behind on the model us behind on the model lacks behind on the model three you go to SpaceX which Iran's also they were behind on the falcon nine of behind on the falcon heavy. They build great products but they're always late. Wall Street forgives them. Yeah it's the look he's the best pitch man around to like he is he is he is yes Steve Jobs it's man's. Ian aid you in in almost the same kind of Hadley he's that much of the gene. The one thing that you might wanna be concerned about it your holder of their stock. Is look at the executive departures from that company if you look at the senior level people who have left back company in the last 24 months it's. It now. White what you on needs is his own Tim Cook. Now he needs that guy who. He's still I track in says look this is what we can realistically do and also just no supplies and logistics better than anyone else. He needs a Tim Cook to his Steve Jobs is he. He is. Steve Jobs effectively but Steve Jobs wasn't perfect he did you know he didn't care about the execution side as much needed to design. In the creation side you on must needs his. Own Tim Cook you know a couple weeks ago we told you about a great new promotion from leader bank it's their new relationship money market account it's gotten even better. Save your money and grow your earnings with a brand new rate when you open up a relationship money market account with leader bank the rate is now. Up to one point 5% annual percentage yield. For balances between 100000 dollars and one million dollars it's easy to qualify simply maintain a 5000 dollar balance. In a leader bank personal checking account. In Roland electronic statements which I think we all get now anyway and keep a 100000 dollar daily balance in your relationship money market account. For more information call leader bank at 8776917900. Or visit leader bank dot com. That's 8776917900. Or head to the web site. Leader bank account take advantage of leader bank's relationship money market account at one point 5% and roll your savings today. These could reduce your earnings and a penalty may be imposed for early withdrawal leader bank step ahead. Member FDIC equal housing lender. The dark reason that so many Milan deals are miserable. And brought up got a toast now it's. It's the amount to find ways delicious I money huge avocados toast to great talker like my my wife is giving so much crap is I come home from grocery shopping now. And I got flights out of I don't go to limit seven avocados and three loaves of bread and she's like you art off the deep end this I got off its out of all like 88 cents where where. I'll Shaw's admit that's a good deal on to hold Sunday morning. I went doodle over for shopping Waddell and 88 so I made a block and use the limelight he suggested. Where they all like really motion though is it perfect and I used the net dated him to make my walk more and pitches a pretty ripe. Viramune perfect and they are they were ready to beat but 88 cents a desperate because of the real reasonable ideals are miserable broke is now the opera comatose but it is because of social media they spend a 141 minutes today on. Which is just stupid you know it's funny to spend much time on my entire phone. But the utilities. Are in the minority track the idea I know and I'm happy to beat that would lake. Betty this is bad when it's also hasn't been proven time and time again that the more time you spend on social media it's depressing yes. Because you know totally because the two things that you see are either people posting pictures of all these great trips they did that make you feel awful but it is a forward or people are complaining about like politics in this and that and just make you feel awful about humanity in general zone either way you feel better about yourself or other people. And it's just it's it's really not good see you say oh I suppose. I would put in perspective. 141 minutes is two hours and 21 minutes today. I mean you could be doing something per click is there anything productive about being on social media and yes and yes if you run a business there can go out the vast church it. So with. If you are on social media because you run a florist in your pushing stuff out and Twitter and FaceBook to drive traffic yes there are positives about social media. If you're someone who just sits there. We've been through your news you know what I'm awful and often I go through this you know our if anybody posted pictures of migrant that's all I care and just go over and see them I do. Again there regularly and he gets to the point now where did you know you bad from the house dad you're you know each day that we don't have a bedroom Korea. Boys might my key works its fifth. Today movement. Yeah I think I just think about two hours and 21 minutes today. How do you get anything done or where do you find that time like you and this year I'm booked an attic in umbilical. What do people to work does that is a media it. The book it's called work yeah it's not called social media busy as a result of social media that it will be called social media does this work so don't work takes a backseat now. I don't know if this is good news or not. I. These are hell I saw this and we're gonna talk about it today and design a Fina health has appointed. Former CEO of General Electric Jeff Immelt as chairman of the board. Is it bad that I checked the stock yesterday when this was announced to see if it went down didn't know. It it didn't go down yesterday went down today it's down 101 in almost 2% today. I need it in retrospect. You know a lot of people. Like Jack Welch didn't like Jeff him and I clients used to work at G we like Jack better than we we we like Jack better than objecting you always hear when you have a new CEO again. You have an old CEO have been like you'll CEO but in news. Now when your look at this company and a new CEO beyond giraffe Sox too I mean it this guy Flannery O. Quote yeah hey he's been there for six month as he sucks but he's he's he's socks and he is he's terrible beast are. Everything yet you know what he's done is he's driven each take in the stock from 23 to fifteen yes it was under. Get rid of all the crap. But he didn't and that's my criticism of planet but he can't say Immelt Immelt Sox now we know peace talks be accused the proof is there he was terrible CE. And now the dean health has hired him for. Lord knows reason. And now this guy Flannery cubs and and I think you can flattery bit you peace talks the he comes in any eat he doesn't. He doesn't tell us really what's going on with the company. Did you give him a little bit of raw deal in the main I don't like either room. I'm down on I don't M everybody down tonight I don't know why the most hated man in boss I don't know why I've been health is bringing in belt on I can't say that. It they'd see it doesn't make a ton of sense to me now. They coming up were to be joined by Joshua Mitchell from the Wall Street Journal to talk about changes. That are being made in student right now these changes in terms of financial aid for students. Are gonna be perceived as negative by many I look at them as being quite positive actually we'll talk about why when we return to the financial exchange. The financial exchanges all over New England go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Hi this is very Armstrong and I've been telling you for weeks that a market correction may becoming the volatility we've seen in the market over the last few weeks has been unprecedented the gains made in January are gone and most experts believe the roller coaster ride may just be beginning if the high degree of volatility is making you nervous don't hesitate to give me a call have been helping my listeners with their financial planning needs for years and I'd like to help you too if the roller coaster ride of the last few weeks make you uncomfortable give me a call at 803934001. And all review your current portfolio for free that's 803934001. And the appointment will take about an hour when you give up an -- of your data help you make better informed decisions about your investment strategy called me today and set up your appointment 803934001. That's 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi this is Barry Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 25%. Annual percentage yield this is an online product only and there's no minimum balance required -- log on to leader bank dot com and sign up today this rate may change without notice so don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader banked dot com leader bank a step ahead. High net worth individuals one of the biggest things that changes are some of the rules about gifting as well as irate at 41 K contributions how much do people put into a 41 K plan. Yes so back into seventeen that limit was 181000 dollars per individual that number is going up slightly this year for 2018 is to be 181500. And don't forget if you're over the age of fifty you have an additional 6000 that you could put in there. Totaling 24500. However on the higher race side nothing's changing you can still put in 5500. In that higher end adamant did not go out so it's really about the employer sponsored plans. For this one eye on the gift tax side of things for 2017 you can give away 141000. Dollars per individual without filing any sort of tax return in 2018 that number is also going up to 151000 dollars up you know as we've seen the beer changes are definitely on the corporate side but there are some small changes around the edges on the individual side that take advantage of can be significant. Folks this is a free guide available for Armstrong advisory group it's titled how tax reform affects. High net worth investors and it's easy to get all you have to do is call 800. 393. 4001. Again that's 800. 393. 4001. Or you can get it online at Armstrong advisory dot com once again. How tax reform affects high net worth investors 803934001. Security suffer through securities America incorporated member finreg SIPC and advisory services are for 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. The same video adds ten pounds. But don't tell Berrian Joakim the financial exchanges alive every day on FaceBook and YouTube. This is the financial exchange radio network. This segment of the financial exchanges. Brought to a park by the US Virgin Islands economic development authority Turkey German Maria we're devastating but the islands are already well on their way to recovery if you're looking to start relocate or expand your business the US Virgin Islands is one of the most competitive business locations in the Caribbean. Take advantage of incredible tax incentives. That are fully sanctioned by the US government for more information visit US VI. EDA. Dot war. Joining us now on the line is Joshua Mitchell from the Wall Street Journal Joshua thanks for coming on us pressure and just was so you put together this article on the and this bill that is winding its way through the house right now it's education bill put forward. By house Republicans what are the general ideas behind him. I think the biggest. Change would be it would kill these debt forgiveness programs for people who have student that are currently under current law you have student you know a large amount. Yeah you can pay he can make payments for ten years or twenty years 25 years that it depends on how much beyond that depends on whether you're in the public sector are for private firm. Like the after after tenors on 20/20 five years the government will forgive what at what ever balances on steel lines and Republicans right now are saying we need and these programs. They're starting to undermine. This student loan program itself. You where you have a student taking on bigger baker. New England to go to school and then on the back and they're having a lot of that. You know X spot which. And sell. The biggest change would be if you take out a lot of that you're gonna have to repay all of that data has built as per. Serious question I have a good friend of mine who went to love Boston university law school. And he picked up somewhere in the ballpark that was around 9295000. Dollars in non student loan debt. And then he went to work war. DA's office as a public defender. He's making DO 50000 dollars a year but he's got 90000 dollars in loans. What was the you know expectation be for someone like him because I think it it really struggles to provide people into those programs that. Great citizen to keep point one point is that someone like him would not be impacted by this bill at least that would Republicans behind the stone have said that this would be. For people who prospectively take outlines I don't mean yeah. Right to present when do you know David it would really apt to look at how much they're paying for law school more graduate school. And what they're going to be earning. And that's kind of one of the ideas behind a move like guesses are gonna have to really be careful about how much debt you take out. The point of that program the public's terrorists. Program. Which. A lap down like tempted to have a has debt forgiven after ten years is that yet the government wanted to incentive. Incentivized people. To become you know. Someone like like like that to go into the job that stepped lesser paid and play an important for a private law firm. That would happen is that a lot of people who work in well paid nonprofit jobs are gaining their tactics bind chart second other debt expunged. Even though they're going to earning a lot themselves. The united there's there's arguments from both sides of that but yeah I think he'll impact his. You're gonna have to look at how much can he take out and you might have to do it cheaper scored just to be very careful what you take up. For the total net ending this program but. One of the things that it looks like they are doing on the positive side is that they would boost the amount available for grants rather than loans is that correct. Yes so it would increase the amount the key get and pell grants from the for the program that basically helped college students afford to go to college. And it means day's sell its its intended to help people from low income households. Go to college you know would increase those grants which still have to be repaid to the idea being that. If hear from a disadvantaged background do you have to take a much stacked the increase wouldn't really be. That much on many grand scheme of things like you know it would still be a bigger grant them what they currently get. They're doable Joshua thank you for the time we appreciate it and thanks for the research on this is well. That is Joshua Mitchell from the Wall Street Journal talking about student aid changes coming in this GOP. Bill for education if it's able to wind its way through the house and senate well I think it probably will. And and I think. The Genesis of this bill truck is all the abuse that was occurring in an area that. He won a crackdown on the abuse. You mean the law schools we dollars what example quote carpet crackdown if if you say look we don't want people earning 200000 dollars at a non profit to be able to take advantage of this and putting an income one and you know say hey look you have to be it has again. The public defender program for a there's no way you can get that to a point where it's paying well enough to actually pay for law school you know you you just can't and so. I view that program as I've said this before is one of the bit rocks of American society where no matter how rich are out for you are. You have someone who can defend you know who's qualified to do sell them. And so what I just look at this I say look when you think you'll be less attorneys that are willing to do that are capable they they won't be they won't be your buddy. Would not be able to do that under the new program know what a bunch still ended up leaving after three years is that even with the potential for relief it was still just too much. You know and and so he left after three years and look at and I can't do this and you know he had that the problem is you have scandal after scandal we have the law school scandal. You had all the for profit university scandal Alia there's there's a ton of it but. I'd rather say hey instead of blowing the whole thing up what do we do to fix this because there is a huge you'd believe in the general. Program you thought the Genesis of the program is actually positive I do I I think it their all kinds of abuses I think you know again the for profit ones as well as law school there's no doubt there's huge abuses there. But I just worry that work had thrown the baby out about. One on this one coming up in the next hour we're going to be talking about CBS Hasbro's in the news. And we'll talk about an obscure court decision against a Rhode Island town's police officers and firefighters. Could be a warning for other public pension. Recipients that's next on the finances. 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 but if you reach the point where you're looking to the future call me at the Armstrong advisor we're 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 are for two securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online -- collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks mostly in the produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired as he ran technology to Obama called this he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. Net advance the state claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from Cushing in Dolan postal legal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help YouTube only 66848569. Guide how tax reform. Affects high net worth investors and Mike when the biggest change that we see is in the federal estate tax and what happened to this number as a result of tax reform. Sure certain 2017. You can give to five point. Instead five point five million you're now looking at eleven million for an individual and 2.2 million for married couples so this is really impacting very few individuals. I mean in the aggregate for. Americans these days and remember that's a pretty hefty tax rate if you get hit with the estate tax you're talking upwards of 40% of that value that you try to pass on. So the federal limit is doubling the five of the six New England states have state estate taxes as well the most restrictive one Massachusetts that number starts the million dollars its guts and guy you know it's not just the amount over a million dollars if you go over a million dollars in Massachusetts you paid state tax on everything you have but you know going through the list Connecticut as an estate tax of two point six million Maine eleven point two million like you said Massachusetts one million Rhode Island is about one point five in Vermont's about two and three quarters the only state during the without one is New Hampshire folks. These are questions that you need to be able to answer if you're wanting to pass any inheritance down to your errors and so this guide how tax reform affects high net worth investors is available for free. All you have to do is call 803934001. Again that's 803934001. Or go to Armstrong advisory group dot com 80393400. War. Security suffer through securities America incorporated member finreg SIPC and advisory services are for through securities America advisors incorporated Barry Armstrong represented if 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 buyer gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader -- dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if you're high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now at our strong advisory ducked out. Securities are for two securities America incorporated member finreg SIPC advisory services are pretty securities America advisors incorporated Barry Armstrong represented 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. You think there are better than one that everyone knows that that's where offering to balance the one taking. You can he added tax and wild cat mounts in the same day and it's the only thing. They're just twenty minutes apart in the number ones out in the heat. Do you know anything. Once again WR downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is Barry 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 and they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 25%. Annual percentage yield this is an online product only and there's no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice so don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates changed it. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And me. This is the financial exchange with Barry Armstrong and shot so I doubt I. You're exclusive look at business and financial news affecting your day your city your world and stay informed and up today. About economic and market trends plus breaking business news every day. And now the financial exchange we have Barry Armstrong and shocks. Rhode Island might be small state but we sure have a lot of business stories coming out of Rhode Island today were we talking about CDS. Their earnings and what they're doing for their employees at 240000. Employees. In addition to that or talk about an obscure court decision against L Rhode Island towns pulled. These officers and firefighters. That could be a warning sign for Social Security. And thirdly we talk about Hasbro hi everybody is very truck with you here on a Thursday morning CVS hiking wages. Introducing paid parental leave with windfall from the new tax law. I think you're doing it as they need to have. Better luck employing people and and hiring people because he you know did get many workers. Nine bucks an hour to know so what they're doing is there were raising their base pay up to eleven dollars per hour from nine my guess and areas like the northeast probably even higher than that just because of the competition for workers. They are also going to be as you said. Adding up paid parental leave up to four weeks of paid parental leave for full time employees. And they're also going to be keeping their. Care premiums for workers. At their current rates from previous years well we walked in new CDS in the itself checked out like that you Home Depot Oracle's. It when in my town we built the CVS has a self check out via via I don't want the united for years they've you know there's one in Brighton student to. Non binding five years ago itself checked out but what are the one in my town talkers like you. My town is now the winner of the city at least into they have checked out yeah it's it's just a little you know being that you scanned dropping back and yeah I don't have Benson a line of you know three or four people my deodorant Wheaton hash out you know fired on Amazon. I will soon get to your site. I what you're CVS purchases by unions. I really haven't made the switch in terms of flight deodorant. I guess I solution by a it razors now live from yes I am in the polishing polishing by the way you're not supposed to be shaping. All of ma oh. Nobody has offered up. So when we ought to just I really honest today about now today antsy got to go through February 22 clip of reiterate Tibet so for people who did miss us. The guy that I was for the wage that we gave very acting was it ten points or twenty actually what we gym wanting to win the titans game twenty points in the titans game and the final score was wildly. A lot to a level. It is like a way to Morant point the other miners are fourteen by fourteen one by a point now and so the bet was that if if it was less than that I was gonna have to grow my hair for a month which would have looked like a tire on dopamine and I would have had to shave my head and you're about to shave your head and if it was more than twenty points and Berry had to go two weeks without shaving. So we're here now it is the eighth of February and so we're gonna go. Through the 22 I think you need to talk to my wife Mel and his yes that's what you're getting get permission. Eight issue by saying well no we've got the Stanley event to elect this Saturday and a wedding to go yeah. What's your point yes. Donated you know starting Monday all askew you do you wanna be in trouble with my wife now you worker there fishy I will remind you he cuts both of your page yeah. Yeah okay so our goal and go to the wedding topic I Monday's fair I think you should talk to the boss but I will I will abide by whatever her ruling news does that sort ideas are making do in the Summers to make miserables possibly August like first. To CBS 240000. Employees who would and and that doesn't include by the way the employees are pickup for men. Yep that would be a big topic it is like what like 45 or fifty pounds you're talking about one of the biggest employers in the world. CBS. Yet Aetna has 49500. Chia that's in your doubts you put those two together. It's a drug and posted 300000 employees and a lot of them in New England yeah it's. Hartford for profit in an epic CVS has to make these changes to their wages and so forth just to stay competitive. In today's market I don't know how to get somebody at eleven and I don't think you'll see that in the northeast habits can be higher than have to. You know these are but it was he'll go to work for Amazon and warehouse at 1617. And you'll see eleven down in you know the southeast and in parts of the midwest where the cost of livings will go to electric boat and get a real career when he won. I'm surprised there are more people can down there 83000 applications here is that right Nikkei UK. The problem is the clearance checks the clearance checks are brutal. Knee can't smoke weed you can't even be heavy drinker. He let me do a lot of due diligence a partly at 83000. Applications. They they they have to do because if US if you have. One little crack that someone could exploit trying to say hey you know I know what you did when he went to Vegas or something like that. Europe you are a threat to national security. An obscure court decision against Rhode island's town's police officers and firefighters could be a warning sign for Social Security could it ever basically. What's happening here Fox's you know guys were cops there firefighters. They're not they're gonna retire with pensions of 40000 years 30000 a year and lo and behold they're not getting their actions. Yet this is a final ruling from the first Circuit Court that pretty much said. Bets in this case the government's of Rhode Island has no obligation. To honor its promises. That were made previous Cranston, Rhode Island gaffe. And so this this is a big one near this huge this these is big potentially for every single state or municipality as well as he in the country when you look at Social Security. Your workers they think about your your firefighter. In your retiring may be your make and what 8090000 bucks a year and you think I'm a retired Canadian pension forty or 50000 bucks a year. And then they are retroactively. Chuck going back and say no he's not your pension. It's the this is a we we hear the word landmark decision tossed around a lot this is yet this is something has the potential reshape a whole host of different you know it is going forward in May bring the public. Sector unions to the negotiating to make news gives they're gonna have to realize. Dear when this happens a few times they'll realize it's threatened so what they'll do results say look okay it will get rid of the pension but do you forward but you've got to contribute 20% into our 401K. In the town will be happy duke is in the town just now the liability. It's lights that's what you just described as would. Went through corporate America in the 1990s. You know corporate America said it and really what happened did in the 1990s folks if you forgot. It is. Stockholders. Said the companies like IBM and maybe you name it reiki on they said to them. Look we don't want you to be promising these big pension payouts. To your workers we insist that you. Change that to a 41 K plan with a match and if you don't do that we're gonna sell your stock so it was stockholders back then with the states and with municipalities can be bondholders. They're the ones are gonna force the issue because they're gonna say look you're telling us that you can pay us 4% interest. We know your heading for bankruptcy if you can't do this so staff writers is going to be taxed it's if it's going to be bondholders have forced change is they're gonna be the ones went went Illinois finally runs and troubled past declare bankruptcy which is going to happen it's something Puerto Rico it's it's only a matter of time when you see. Hartford declare bankruptcy. The bondholders are going to say look. In order for us to know what you're gonna have cast won't pay us. Do you get a clinical pension outlook it's because those those ones that don't show up on your books but we know the cash flow has to go out him. You've got to clean those up in that's where I I think this is where everything is going the next ten to fifteen years well these it's it we've known it's a major liability it's. You know we talk about Rhode Island but the problem persists in Massachusetts they've got pension problem obligations. All over the country. All of the country. You know Connecticut has major Connecticut. Its pension deficit might be worse than masters let's take a look at the the gap right now pulled up plus numbers from last year and this is off from Bloomberg. So let's take a look at funding ratios so Rhode island's 55%. Masses much better 57. New Hampshire 58 Vermont 64 Maine a 77 means that bad shape go to Connecticut. Connecticut is 44% funded so you're in the always the only states that are worse. You know you talk about the best states as far as their funding New York right now 94 point five Zeta great job the last thirty years cleaning things up there South Dakota. Probably just as they have a whole lot of people on their roles. Washington Idaho or in Utah law. Delaware Iowa in Nebraska that was the only. Yet eleven states that are over 80% fund now and really that 80% funding is what you need that's that's where you say okay if we do have a little gap we can at least make that up easily you know with the declining population. Yeah that because he you look at the population. I shouldn't say declining that new England's population is essentially flat. Guess that he had very little population the the other thing is that it's getting worse connecting 2015 was fifty point 2% for the people are leaving they declined by 6% in terms their funding unity need the big problem now that Connecticut happens is people are leaving me they're saying. You know what I'm gonna keep my house in Connecticut and file my taxes and lower Connecticut 61 billion dollars in pension obligations outstanding now. Next administration's and a heck of a problem to deal that connect. Not good. Ide despite the lackluster fourth quarter Hasbro reports record 2017. Revenues yet coming in with a good quarter here in showing hey we think that we will be able to make it without Toys 'R' Us who'd been a major sales driver for them. The stock that could make a lot of their monies off the movies though is net makers. Now people don't shop at Toys 'R' Us they sharpen. You know Amazon.com or Wal-Mart dot com for the toys based I like being dual office on line torturous was still a big chunk you know was still I think like 810% of overall toy sales. And so you know that's that's a chunk where. Part of it is just have to figure what to do with inventory and her you know interest in getting your supply chains back in order. Have her down a few percent today giving back some of those gains here. They did have some disappointing numbers as far as their licensing revenues of some of the Star Wars toys and sell quite as wells XP. Back to drink talking about that last week as the Star Wars movie the lost and I was not that luster. But is not a good move. Mel wasn't it was not and you know you we could debate you know they pretty good revenues 1000000007 but the fact of the matter is they couldn't Celanese stuff. Right they need the money what other stuff you're gonna sell that's different from the first movie really I think part of his people are delayed again as you think there's a saturation like how many light sabers Dini to purity have gotten to. You know. Yes who need to to city music by fight yeah batteries. Now better he's had lots of batteries defied their cell. When you sell your house when you sell your primary residence. Let's say you were fortunate than you bought your house. In 2011. And the darn things gone up and die by it and to 300000 bucks is where you live. Yet pay taxes on that will answer that question when we return to the financial tree. The financial exchanges line on FaceBook and YouTube watch Barry and Joseph discuss the issues of the day and see which one smiles the most. Is who's the financial exchange radio network. Hi this is very Armstrong and I've been telling you for weeks that a market correction may becoming the volatility we've seen in the market over the last few weeks has been unprecedented the gains made in January are gone and most experts believe the roller coaster ride may just be beginning if a high degree of volatility is making you nervous don't hesitate to give me a call have been helping my listeners with their financial planning needs for years and I'd like to help you too if the roller coaster ride of the last few weeks makes you uncomfortable give me a call at 803934001. And all review your current portfolio for free at 803934001. And the appointment will take about an hour when you give up an hour of your data help you make better informed decisions about your investment strategy called me today and set up your appointment 803934001. That's 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's keep apart or go off from Cushing in Dolan post illegal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state planning has many benefits but if you don't plan accordingly your short of miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life a state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just play Georgia Thursday claiming for more than thirty years give them a call yet they're free guide and let them help you to you only 668485699. Or download the guide at legal exchange showed done. Com hi this is Gary Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today this rate may change without notice so don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with. Plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now are strong advisory ducked out. Securities operative securities America incorporated member finreg SIPC advisory services are with 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. If you missed any part of today's show not to worry good financial exchange showed don't come and click the listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show does come. This segment of the financial exchanges brought to you guys he rented your landlord. Take advantage of zero to fully automatic online right collection tool. That is free for landlords with the count and participating bank and always free for tenants. Now collection of local banks are offering this unique program including leader bank and stone bank sign up an average payments deposited directly into your count. Call 7816418691. Today or visit zero dot net. For more information member. FDIC he knows just a few years ago when we used to get increased from our audience. About whether or not they could deduct the losses on the sale of their primary residence why while you might have bought their house in 2005. For. 500000 dollars and they sold in 2009. For. 400000 dollars and they lost a 100000 dollars on the sale then won enough they can deduct it well the answer is no you can't deduct it but now we're getting questions. Just the opposite in nature track where you've got people who bought houses in 2011 notre think. 2011 would you say that was the bottom of the real estate market doing. Yeah I'd say probably somewhere in the middle of that year depends what his state yeah probably an eight in in that Tony 112012 range. And so for a primary residence this doesn't apply to a rental or a vacation home. But for primary residents on the federal side if you're single and you've lived there for at least two out of the last five years. The first 250000. Dollars in gains. Not taxable lest you're able to exclude that so let's say you have a primary residence that you've lived after three years. If you bought it for 300 and you go and sell for 400 you'd have to pay any federal capital gains tax pretty good. If you're married. Instead of having a 250000. Dollar exclusion on that sale means actually 500000 dollar exclusion so that means lets see you bought a place back in 1991 who for a 100000 and now you're selling it for 600 is he bought in south you just the right time or something like that. If you have a game that is 500000 dollars or less and you're married. You don't have to pay capital gains tax federally on in your beneficiary of this last year I was used soldier Condo unit and tidy profit on that didn't pay a penny attacks now federal released him. Status they'll do you know all the tax stamps in this national map but federally you get to handicap. Gains tax no announcement. Well the ID the point is. You know now we're actually starting to see some appreciation in property yeah in a whole lot of appreciation beat people or are doing and and I will tell you. You know the spring real estate market. Really begins any gain. You know for those of you were thinking about selling your house got a bad time to list its its its late February now is kind of when that kicks off when I put the offense on the weather right I mean that if we get. Five feet of snow nobody's gonna wanna go look at houses honestly in this market even then people now ladies and it's not isn't real inventory I talked to a mutual friend who is a realtor. And she's never seen in and if she's he'd been in the business for fifty years never seen real estate inventory levels this slow ever it's never it's it's knots. Amazon has one of the easiest and most reliable ways to fix your broken iPhone you guys have broken iphones right now screen Tucker that your screen oh it's beautiful. Realize I don't Wear my phone news when it broke a note clean my wife that might my legs. It has a broken screen I've broken. And today which do it dropped in on the kitchen for a but now Amazon and you go to Amazon.com. And you can have somebody come to your house and picture Europe well. Not a bad deal given that I know wat you know obviously got a scheduler appointment act out and now at an Apple Store or otherwise better than mailing your filled similar rate you're you're not without your phone. Here eat somebody comes to your house as I understand he's scheduled appointment on line. Somebody shows up beat her house. Did they come in your house or the use that you can they repaired in the car. And see why there would have to go on the house. Was. What's interesting I don't know with apple on the use if they are installing fully licensed apple screens and sometimes if they're not you can have problems with the the log ins and so forth just because they realize that it's not authentic apple screen so it's just some to be. Careful expensive I mean it's actually not bad for five you know if you're doing the old phones via the five it's 79 bucks. But he's pretty good you know you've got. 130 folds like I've got a seven plus. There's a blind as a bat. It's a 159 bucks seem I don't know Tucker I would do that is at stake here if you've got to seven plus your batteries die and right you're you're already on the tail and your batteries in your battery let's 79 dollars right. So certainly indicted for new phone does 79 dollars plus another 159. What's the trade in value Euro most of plenary treaty ending in and breathe deep I'd rather spend a couple hundred bucks every year and a half or so as opposed to 800 dollars every 23 years for new phone like I'm just. I I'm not out of the new fondness I don't know was that Dino and trade in value for your current iPhone 350. Rasmussen. Interest so that that where I am Tucker you know it takes I get 350 from my old one. I gets it would cost me eighty bucks for the battery summit for. Fourth dirty bird and then a 160 bucks for new screen now neck so your point. In the actual intent is kind of cool. It carries on all looked eased putting Freddy Fisher of the punch in the code you have to put your finger print on oh yes yet putting Unicode is such. It's a high TI hate putting might placing my thumb gently on my phone. Us and data you know I might face to open my phone I have a problem I altered my fingerprint. It is I was grouting unit just don't grab any parting note grandiose. As grouting we grouting. In light and and and we think I I noble it looked. A lot I have a game. And any song grouting Snyder fingerprints are different and yet they are. I have little holes as my finger also held in there and end invite my fingerprint doesn't work from a phone anymore because I I altered my fingerprint but not intentionally just we get a read caliber at them. And he didn't settings. Michael with the whole process and those jetBlue workers went on strike yesterday did. They did I'm surprised that jetBlue didn't cave before I am still and to and they said they beat him these guys went on strike you these are the people that come on in you know. Clean the planes. They're largely their baggage handlers people who locked contract workers who clean planes are the ones that easy pushing people around in the wheelchairs through was the the airport and so they don't get paid a lot of money. No they they they don't make a whole lot put to have a big impact on the overall quality of service and it's. I'm a little surprised that jetBlue didn't cave on this touchy you know what the what was unusual jetBlue says hey didn't interrupt or serves and also how to do. Willie you figure that Dinara the Serbs and why you pain and begin it would it would be neat imports. Well the I wonder they brought in replacement workers likes capture which has had an ice is no union might well I know but it's still replacement workers how did they do that he is he they're still on strict today by the way checked few minutes ago. They coming up we're gonna talk about what governor Malloy is doing to make sure that Connecticut remains in the toilet economically. The financial exchanges and live on FaceBook so make sure to like your page and watch the guys break down the latest on the market 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 buyer gold locally it just makes sense. Did leader banker called limb learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back. Let's dip ahead many believe that the incredible success we saw on the markets last year was fueled by the. Promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with the quality of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal or state tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now are strong advisory ducked out. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Are better than one that everyone knows that and where offerings to Allen's once again. You can add cash and a wildcat mountain illness paint on the below link. They're just twenty minutes aren't and number ones out in neat. You mountains once again WR downhill this cleaner and added tax and cloud cap now. It's due out in the ticket. Dot com for more information are are strong here and I'm joined by estate planning attorney Todd what's key from law firm of Cushing and Dolan. And we're talking about reasons to create in a state plan this one really hits home. Howell Todd can you provide for special needs child or grandchild. Without placing any benefits that they're currently receiving from places like Medicare. It in jeopardy. You know and it's not even just like Medicare thing your rate special needs children that the biggest issue there is. He might already be receiving some kind of government benefits 22%. And and people inherently feel that they have to just inherit their special needs child. Because of their fear of losing the government benefits when they get all this money. And I wanna make it crystal clear out great reason to do estate planning is you have a trusting you to not have to just inherent your special needs child. You can give them the same amount of money as you can give your other children who serves as the trustee of that truck would have the children's. Who senator Leno is a sibling who better knows the needs of the child that sibling that brother or sister again. So easy use and not turn uncle to you could use a family member who understands. And that way you inside your trust your your family trust. Is a special needs share that allows money to be paid out to the special needs child to better their lives. With out jeopardizing their government benefits and that's exactly what he have a special needs child or grandchild that's a terrific reason to create trusted do in a state plan. Call Cushing and Dolan and receive their guide it's called the top ten reasons to create an estate plan 8668485699. Total free. 8668. Story. 5699. If you're so inclined you can download the guide on the website it's legal exchange showed dot com or call told free. 8668485699. Armstrong here. So I'm bringing you the best in business and financial news every day this is the financial exchange radio network. You know congressional leaders say they have agreed on a budget deal and normally especially on a two year deal. Normally stocks would respond very positively to that news today however the Dow down 400 points. And I wonder shock if the market the stock market the bond market is looking at this bonded this budget deal. As a negative because of the rapid expansion of the deficit associated with a. It probably has something to do with that I mean you look at what this is doing in the bond market right now in its push that ten year yield back up to 2.5 percent at this point back you know we've gotten there at 2.5 or two point 852 when Chara. Two point 85% since pushed us back up there. That is a little bit to do but look there's there's a shake up that's going on in stocks right now that's a long overdue anyways and I think. Obviously we have a catalyst at the beginning this week to kind of get things moving there this is a market that I don't think is trading politically today. It seems to be simply based on look there's this shake out that is happening the valuations are still high. The that they're high but. Again they get I think that we have to look at this through the lens. Still be no where rates are right now there still historically low in the other thing. Is we have had this weakening dollar the last two years in that's a few drives valuations up as well so I think when you look at it through those lenses. It's it's high there's still going to be a shake out I don't think we're done. And just buckle up. Would you agree that Connecticut has the weakest economy out of the six New England states were rebroadcast. Maine's close. Means economy's pretty justice they can't find workers you know made just it's just tough to hire the Maine now who governor Malloy now doing his best to make sure that. Connecticut remains mired in recession. You know the businesses are leaving Connecticut in droves. Because of high taxes. And he's leaving. And I was extending them is extending them and that is jest. The kiss of death if you're the CEO. Of the company and you've taken gee maybe well to be an example. If you're the CEO CDS. Are you looking at Connecticut and stand. Case in and I really wanna half you know ten or 151000 employees in Connecticut note I'd be better off somewhere else. So he hears the big problem is that there's a study that was done by the Connecticut department of revenue back in 2014. 357. Fairways in Connecticut. Account for 12% of Connecticut's total income tax board so if you see eights tiny amount of people a small group to say. We're done with this. Hope they'll they'll. Thank direction imagined Bridgewater needs at a Connecticut it's the classic question how much tax do you generate if you have if you tax a 100% of zero. It it's it's not anything in in so the problem is when you continue to raise taxes especially. Any time where you see increased competition for. You know workers and so forth eventually finally people to say. I'm don't like I can go somewhere else not have to deal with this and and that's the crawl on the Connecticut's running into. They have all kinds of problems their pension again is 44% funded right now. And the difficulties they have his. You know they've already pushing down a lot of bad news to the towns race of the towns are already saying. He had fire teachers and fire firefighters who you have to raise property taxes as very unpopular. Death in in looking at. Those those 357 enough families and they paid 700 million dollars in tax to pay about two million dollars in tax each. This kind of thing again if you see ten of them just pick up all of a sudden you lost twenty million revenue just does a guy bit left and New Jersey whose putter feet. And if we didn't end up alternate Jones left. Left Connecticut and he was paying like 300 million dollars a year as he was making their thirty million dollars young's argues making like a quarter billion a year. It's what happens and AP it's amazing. Politicians just don't seem to understand. Duncan donuts is going to be getting rid of their full cups of time money. About damn time elected Pope why does he you don't you don't burn yourself if you get a Starbucks cup in dense that you just killed all redux. I know it's there's so bad for the environment is where you overdue and I've never permit softened Starbucks cup ever. You don't get the sleeve get a obviously very very sensitive thing. And you fingerprints they're doing anything that's why you grouting. How to grow yeah so what's this going to be taken affects couple years a something when he twenty it's starting it. In various parts of the country that'd be all done by 22 ended their get rid of them in on new York and California starting this morning save many money here's a part of cost them. I bet it's and they have cost him a tad more importantly a little difference to him. I can answer look they the the cost of a cop. It's not even a cent on certainly gets its gotta be less than that so it's a insert pennies on the dollar. No pun intended but it it's probably gonna be a little bit more expensive. But it's just the the the foam was just so bad for every week it's bad for people is bad for animals that there's nothing that's good. You know if you run a business. You know that what are your biggest expenses come the end of the year is what you pay in tax. You know yours so your running. It's manufacturing business or your running service oriented business. Into the year you work your butt off and you made ten million bucks made twenty million dollars of profit. Well you do when you make ten million dollars in profit. And by the time you pay the state in which you reside in you pay your federal taxes your pride talking about I don't know two and a half million dollars in tax may be more. If you re locate your business to the Virgin Islands. You can reduce your taxes from two and a half million dollars down to about a 100000 dollars is a special tax program. That's provided by the educate the Virgin Islands. Economic development. Department. And they will reduce your taxes you can take your federal income tax liability down by 90% and there is no state income tax in the Virgin Islands. Think about what your profit picture would look like if you could reduce your federal taxes by 90%. All of suggesting you do is you give them call hears their phone number and it's 8556223634. Ask them for the report from the economic development commission about a forty page report. In your need to run it by your tax attorneys and buyer accountants and get some advice on it. But if you can relocate your business to the Virgin Islands you can reduce your taxes really by more than 90% because most of the businesses that I talked to are located in the state that has a corporate income taxes well. The phone number to get this free report is 855622. 363. For the 28556223634. If you wanna get it on line you can. You said the go to US VI EDA dot org. But it's a great read. And might say to yourself what do you not ready to do it today but in two years of ready to relocate my business because they don't gonna have this huge profit coming in in two years. Think about reducing your federal tax liability by 90%. Place to do US Virgin Islands 8556223634. Mobile usage looks to be rising at Dunkin' Donuts now. Tucker you quit your coffee consumption at Starbucks almost exclusively on via doesn't correct yup. Duncan's been a little slower. They have been they they are picking up now that they just hit eight million rewards members on 33% annual gross net that rewards programs through their mobile app. So they are picking up by quite a bit. On this frontier and the other thing they're seeing is their sales in the morning tend to be increasing just because people wanna avoid that line that account terms a bordering. And so it tends to boost up sales a little bit so it does seem like they're getting. A little bit of a boost here right now like it. Yeah yeah easy it. What if it's not that we don't like other human beings is just that sometimes it is but in terms of they've done studies at McDonald's. Where you can go and talk to a person. In order your food immediately. Or you can order your food at a kiosk you have to wait five minutes to order your food kiosk people would rather weak five minutes and or their food at a kiosk as opposed to talking to a clerk Don we'll think about it you're timing on your commute which you know I do you order way ahead and fancier or strangest you know I got ten minutes to yeah Dunkin' Donuts or Starbucks and that punch and and I go there it's there are ready for me ready to go is still on or if you time and all right nebulous foam cups. And a foam cups. Yeah but not know from what I've hear the Dunkin' Donuts app is good I don't have a cousin don't go there that frequently but I've heard good things. Five hottest work from home jobs that do not require previous experienced people like to work from home. 43% of workers say they work remotely at least some of the time. In 2016 that's up four percentage points since 122012. EU via translator needed that from home. Sales fell well I would have a second language so. You can't. Canadian. Has put me at the end of it you closer or gather orphans was good last night on the Bruins game I sent an active in acts. More Minnesota wasn't a little. All right so translator I don't qualify for that tutor during the patients' fears. Two sales huge sales to do sales customer service you can do that no content writer can do that no. So these are out for you but there are a lot of jobs you can do from home. You know who hires a lot of people from home airlines. You know the early in our service will you ever I get on the phone with. You know with American Airlines and you wanna change like yours sir. That a lot of times of people work and from others and have a call centers for those they do but he also the they set up these remote a lot of lot of customer service work is being done. By people. At their home and they can kind of dial in when they want to to cut the cost down a little bit you know there are a lot actually exempt Peña and over. You have to pay the overhead they equipped paid the worker with all the technology need headset the computer quotas computer and heads. And somebody can you know you can work shift from you know 2 AM to 6 AM if if networks were and a it that's that's receive a lot of working from home Nickerson. Coming up word be talking to. Joshua Brockman from the New York Times. About should you worry about getting sick from a plane flight like Italians that he answers yes you know on a plane. You should be darn concerned about getting sick. We'll talk about that with Josh when we get back to the financial extra. Bowed and our daily poll question had financial exchange showed dot com millionaire player of the media player and watch the show while you work. This case the financial exchange radio network. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the words used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 7816418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi this is Barry Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 25%. Annual percentage yield this is an online product only and there's no minimum balance required so log on to leader bank dot com and sign up today is rate may change without notice so don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Come many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with plenty of optimism about a repeat performance in 2018 Titus is very strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now feel free guide 803934001. That's 803934001. Or download it right now there are strong advisory ducked out. Securities operative securities America incorporated member finreg SIPC and advisory services are with 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. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think carry arms from representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to view this as the financial exchange radio network. Brit talk about something that you should not do that is financing. The purchase of a phone. Many of us do it. Then we you go in and you know start. Phones now a thousand bucks thousand bucks at this point and so Goldman Sachs is in talks with apple. To set up a consumer lending program for people to Bob borrow money in order to buy phones. Much like buying a car except this in this case you don't you'd a an iPhone to do any job and who do they usually give it to view what I was surprised it. They just how much money. Is being borrowed to buy the east artful. And I just picking on on apple but I mean folds in general because even if you get a contract rate through 182 years and yet you're essentially financing. Yeah you pretty much are you spread that out and obviously into being a little bit more expensive doing that. I just. You know at least a car you can sum would justifies all he's not spending too much you can say okay if I need this for war okay. I I get that I needed our alone I've abused our respect you try to pay them off quickly. With the phone it's like look if you have to borrow money for a phone they don't do this apart I was gonna say don't do go get yourself like a hundred dollar they get our Smartphones were a hundred dollars right good phones right. You know Gregory we'll get hooked and all need to galaxy growing need the I thought there are really good phones for a hundred box will would Goldman's working on is an arrangement with apple. Where they'll charge 12% and you might seize up 12% would pay 12% while people are paying twenty. Lot of people when they buy their old striker paying 20% raise expected it's put on a credit card and boom all of a scenario paid off over time well good luck with that. Speaking. Of phones. Chinese imports surged 37%. In the month of January coach. Yeah up to thirty that's kinda the opposite of what we're open for you out a 37%. Into and 11%. In 11% rise in exports here. And so obviously you know this is you know interesting to see there was that China's trade surplus decreased down to twenty billion for the month. Compared to an expected surplus of 54 Billy and so is this is you know potentially if if this continues over the long run. To big ship for the and one of the biggest imports they're going to continue to have as oil OK they continue. Too rapidly grow the number of people left cars and so forth and so oil is becoming. Increasingly important for China this and they're doing a lot of their trade with Russia are you seeing an awful lot there yours is that I I look at bat. As being a positive. Just because you do. That means that there economically tied together relationships between China and Russia have not always been of the best teacher no on Dave the counterpoint to that is you do worry about getting kind of caught out and being left out of any future economic plans. But obviously you know them and Russia just with Russia being such a big oil supplier you seem to have some deepening ties to. Russia's gas station ring me or Derek you mean Russia is very wealthy. In terms of oil coal. Natural gas they have huge natural gas serves mask and the Chinese have the technology in the money to help them develop depth. So it's it's from that standpoint it's a good relationship. The FDA. What Gilead Sciences might make a lot of money on this the FDA has just approved a new. Drug to treat HIV it's a daily drug. In the 22 billion dollar market. Yeah and this this drug is a once A day pill to treat HIV and what it does. Is it contains a couple key treatments that have previously been used for HIV moon but because it's all formulated in one pill. Makes it easier for people take lessons to remember and so force. And so the big thing years just simplifying the process in getting people to be able to take the drugs on a more regular basis as opposed to potentially. You know having a more complicated. So what used to be where HIV was a death sentence that you're back in the eighties is news is deaths so we have and the they've come along way in a very short period time. Oil prices oil prices have been. They were up went about 65 bucks a barrel week ago yeah we got up to what the touch north of 65 and severe today we are back down just under 61. At the moment so eight to 89 for gas in and did you. Now that Carl Washington. Well let's get at least a two for one deal. Gas prices nationally right now at two dollars and sixty cents. If you compare that to a monthly trend seems little compared when he gets paid for an update to sixty. You down pain I think the last time is to semi five from baseman Aaron masters averaged 262. Probably but I I don't see that courteous you. It depends I have have I haven't seen I am it's been like a few weeks on. I'm just telling you what it is. But yet the New Hampshire averaged 256. Lowered tax little bit lower taxes take a look at Massachusetts and see where it's cheap OK so here's the deal soon in Suffolk County masters so anywhere near the city to seventy through so what's gonna happen oil prices coming down Laguna -- I don't make bets on oil and I've been wrong so many to IKEA as a heartland and I've never write on it. I I think it's largely manipulated. Yeah ice I think I don't think it's so much a function of what he you know what excellence charging is it is what Wall Street decides to hedge. I don't over the Wall Street so much what countries wanna do that you know have as their main source of revenue mean there's no doubt that you look at Saudi Arabia and Russia and I've always maintained that Saudi Arabia. Would like it to be eighty bucks a barrel you know Indy and only because they're going public. Right didn't Saudi Arabia's support you and they're still been in a public hearing. I've heard anything otherwise yes so if you're going public. And you can get eighty bucks a barrel for oil will your stock. He's going to be worth a heck of a lot more than if you get in fifty bucks for that the I've always maintain turkeys they did Saudi Arabia would do darn near anything. To get the price of oil to eighty bucks a girl but it's going the wrong way it's going from it's gone from 65 down were down about 61 thing that you wonder about was the the Saudi aramco IPO obviously there's been a lot of chaos in the Saudi regime in the last year. You wonder if that's Goldman giving up on we don't even know where it's gonna happen no idea no way it is a lot of different viewpoints that. You know potentially could end up making themselves or think they do it in London. No reality. That was that that could be interest again could that be an idea on trade as a real screw you to the US. Hey thanks for tuning in to the financial exchange state trucks not a talker so what Carrera.