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Full Show 2-14-18

Feb 14, 2018|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're simply your world. Stay informed and up today about economic and market trends plus get breaking business news and every day can. And now the financial exchange with the Barry Armstrong and chuck Exxon. Stocks are trading down over 100 points why well interest rates are up. And it's all due to some inflation data that we got an 8:30 eastern time. We also have a story regarding chipotle. They have recruited in new CEO and then finally. The trump administration has a new plan to deal with food stamp abuse hi everybody it's very and chuck with you here on a Wednesday morning happy Valentine's Day and we got some inflation data this morning at about 8:30 eastern time and holy cow the market reacted very negatively. Right off the bat. Dow was down about 200 points with the futures were seems to taper off of it. Yet it's it seems to win and what we saw in this inflation data for the month of January. All items included we saw inflation of point 5% for the month compared to an expectation of point four. And when you strip out food and fuel which tend to be the most volatile components of the of the CPI you saw that number coming point 3% for the month. Compared to an expectation. Of point two now what this means is that inflation over the last twelve months accelerated to a robust one point 8%. So is still under their target is it's still incredibly low. But he is an indication. That hey maybe it's creeping up in the last three months you've seen it go from point 1% in November to point to an out of point threes that's a three month trend where you've seen an increase now. And I think that's the thing that you look at it's not the speed not the one data point but the trend over the last three months. When you strip out the different pieces here couple things that are interesting to see. New vehicles saw a point 1% decrease in their prices in January so continuing to see that means dealers are giving out a lot of discount continuing to see that over the last twelve months new vehicle price is off one point 2% but they're still very high 3637000. Per vehicle they are so they're there's they're still very high but again you stretch now the longer outlook longer loan terms and so forth. So that's something that's interest in there the big thing that spiked up this month interestingly enough. Apparel prices up one point 7% for the month. After declining for much of last year so. Something you know it's interesting to follow their transportation service is up 4%. For the year point 8% for the month as well with the airline tickets you've seen big increases in prices there got the other thing that you always do scene January and why this may be a little bit of a red Herring. If you have a city that is changing prices on. Public transportation and a lot of times that's effective January 1 or sometimes you see a little bit of a spike up in January but then dissipate over the next couple has the. The Fed's target rate of inflation correct me if I'm wrong is two to 3%. 2% 2%. So they're still under their target. They are it's all everything that's happening in this market right now is on fears that we are going to overshoot okay sir if you got let's just take the January date yeah right. If you said okay forget about the previous eleven months and you multiply junior by twelve with the greatly. It will be about three and a half percent so that's why the markets yet it's the concern at this point 3% for per month. Is the new normal what's the upper end for the Fed weird weird they really get freaked out. North of four. North of North Fork is that's that's where it's not just Al east you EC half point moves many. Yes I mean that's north of four is not where you just feel a north of four is where you feel it's significantly because all of a sudden thing about it from this perspective. North of four is where instead of spending. You know 400 dollars a month on food for your family now all of a sudden you're spending 42430. You know it's that's where all of a sudden you know things start to rapidly increase how much do you shop when year when you're buying an item at what price. Do you do comparison shopping. For items depends on the item if it's something that I by repeatedly I comparison shop. Pretty pretty thoroughly because you want to get the cheapest price for something you buy over and over if it's a one time purchase generally if it's more today in the hundred dollars while comparison shop otherwise it it's it's generally not worth your time to save you know a dollar but up. If it's something like toilet paper that you know you're buying every month gallop comparison shopping just because if I can save. Yet to three bucks a month old synagogue next fifty bucks and I you know and at the end of the year because they if there's a theory out there that. The Internet and Jeff vessels from Amazon have really gone a long way towards depressing inflation. In that consumers have the ability shop they used to be like senior buying TV with the TV costs 3400 dollars. I mean if you look like a 4842 inch TV now actually you did that didn't you shop for TV and you ended up buying it online and I ended up buying it on Amazon yeah yeah and how much did you save as opposed to signal and assert their best buy equipment that about 10% now. So on big ticket items its key it's keeping prices to you even a smaller ticket once I think there are a lot of people who do comparison shop and it's not just that it's keeping prices down there that think about what Amazon is done if you are someone who's a prime member yeah you're not paying all the shipping fees anymore right yes so it's. It it's something where. You can make an argument that inflation the last few years would have been more significant if you work for some of the streamlining that we've seen technologically than the others they are they strong deflationary bias to all the technology that's coming into plain. Right knee in you look at it and you say well there's going to be wage pressure. We still haven't really seen much wage inflation yet in lecture skilled worker would you know if you what's interesting is if you look it. Higher wage earners their wages are going up so if you're a computer technician if your doctor Europe. Some kind of technical trader carpenter. Your wages or go to the one we saw last year the strongest wage growth in 27 team struck drivers yeah. But that's temporary it it's it's temporary but it still exists you that there still is a huge truck driver shortage right now. Two toll has a new CEO they have hired the CEO from Taco Bell young men mr. he's mr. nickel. Is the new CEO he runs talk about now which is part of they use the Yum! Brands company. And he is going to take over for Steve Els on March 5. Days run Taco Bell for the last three years formerly in marketing executive with Taco Bell as well as name's Brian nickel he's 43 years old. I did a little bit of background research on him coming into. You know this just as I wanted to I'm curious about you know who we actually was his favorite item at Taco Bell is the cheesy Gordy to crunch which is actually my favorite item at Taco Bell also are under contract and I'm proud boast on this guy to begin with just kind of looking at that but. He's someone who has leveraged. Technology at Taco Bell as well as he completely revamp their marketing strategy into what's really been a pretty good one for the nobody's got their users to talk about as CEO he's been there for I think he started and went the fifteen minute time between fifteen CEO that the 1212011. Erica with the company. Young guy 43. Chipotle executives that have acknowledged neglecting basic operational details like keeping your restaurants clean. And up to date while they focused on food safety and that's a bad. Luck into a restaurant earliest but if I walk into restaurants dirty that's turn. I've walked out. Sometimes a little dirt tastes better and you know to Canada yet that old hand use all the time and chipotle shares have lost nearly 40% of their value in the past year. These were down yesterday as soon as they made this announcement the share price was up 12%. Up 15% now is it yet so this this is getting a peek round of applause from investors and in and I think it's a sign that. They nickel someone who knows what he's doing if you walk into a Taco Bell will be spending on one tradition. I go to talk about maybe once a year so. I'm guessing you don't post a seven bonds is a 56 boxers and that's cheap yet. Where's Tripoli are coming out posted ten to twelve this the same price ranges of McDonald's Wendy user of the world against. You know. Tucker you I know you like chipotle burrito Taco Bell the if you did choose its answer them by analyst or guys in Europe have chipotle or talk to Poland. And not even a second thought about it chuck do you feel. Depends if I've had a beer to first. But at the at this Taco Bell says pretty good after thrown a couple back I mean taco Bell's fantastic and 1 on the morning ever put triple a.'s fresher ingredients. It cut in the chicken right in front have you noted that the whole enormous thing and obviously that's a big deal. By but I you have all the fresher product and they haven't had any incidents in the sadness in the last minute or so a year and a half ago the grass. It was Az-Zahir that was that was felt like that are I was like in the winter yet and that was the building. You know that that unity of their tenants in the building where the mice actually goes less camps are always a summer Alice falls in nearly all and a headline from the New York Post was it's raining rats at triple library. So what's our poll question today IB cure does this shakes out because I know there's a lot of people who were in tight chipotle right it is if for some reason it's become a controversial company I don't know I understand why our restaurant becomes controversial. There's some people just absolutely hate triple. I I I I I shouldn't vote in the poll because I don't know if I've ever been. We haven't in your life on you have. He died when you know I asked them why I picked him. Interest ever been to talk about. They now. And certain standards you know tar balls good which standards was your favorite restaurants McDonald's which wasn't tackle wasn't toggle named healthiest fast food chain out there recently. Now I. I wouldn't bet money on that bill capsule mail them on net but either way our poll question is. Do you prefer to bully or Taco Bell in our poll question is on financial change dot com. Taco Bell was named one of America's healthiest fast food chains and this was according to. Is that it's mostly a legit source no it this is now closed source just fine actresses are what is your vote talk rebel or multiple. So you you're both chipotle yeah I prefer I would go to to pull away probably 23 out of 24 hours in the day that one to 2 AM window is the one area where maybe for Taco Bell. Deficits are running high what does that mean for the overall economy while I talked to Neil Irwin from the New York Times in the next segment. The era of fiscal austerity is over here's what big deficits mean for the economy that's our next topic from the financial exchange rated network. Like us on FaceBook and follow us on Twitter TSE Asia. Breaking business news is always first year on the financial exchange radio network. Hi this is Barry Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business daily tax incentive program offered by the economic development authority that could help save up to 90%. On 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 Carly and we effectively reduce federal income tax because we do Ameritech system where we use the federal forms with the money CC territory and 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 Europe. Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US VI EDA dot org. 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 do a partner -- -- from -- in -- -- illegal 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 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 in what not to do when it comes to setting up your life for state call now for your free copy -- 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in 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 at legal exchange showed dot com. Arab strong here and I'm joined by estate planning attorney Todd what ski 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. Ensure. That 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. In this doesn't come. Rate do you bring it up Purdue the client. I think it's a combination of balls but but once you mention if they don't mention that always think about after death I know and when you mention it. They jump on. One might spell out here at lower divorce is so prevalent. 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. And that is in their sole discretion to make distribution to the child or to the grinch. 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 it created 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 handle an 8668485699. All 3866. Eight Horry 5699. You can download the guide on the website legal exchange showed dot com. Or call all 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 for Barry and chuck is live on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. Budget deficits are going to be running about a trillion dollars a year and eighteen and nineteen the end of austerity is here and we're joined by Neil Irwin for conversation about that very topic and you are welcome to the show. It so. I was pretty surprised to look at the president's budget and see what it does in terms of the deficit trillion dollar deficits. Usually if a Republican administration tends to be more conservative and tightens the belt doesn't. Doesn't loosen the bill. You know I'm not sure true that is actually you know if you go back to to the early two thousands of the Bush Administration that these tax cuts in 2000 wanted to doesn't predated Medicare prescription benefit that they didn't pay for we have seen this pattern before where Republicans. Talk a lot about deficits and and reducing them when they're when they're out of power when they come and power there tends to be. You know suddenly get turned so bad it's. Where it's cut taxes. They can maintain spending levels. So we we have seen this movie before but. But it is striking how quickly just turned happened you know back in 2010 Republicans won congress insisted on on on most of the budget control act. There's the hole. Debt crisis and and that led to. Released several years of both cutting our spending on things other than Social Security Medicare. What do you think this means in terms of growth in our economy GDP for 20182019. What are you hearing from projections. From economists that you respect. You know does peace look like they're going to be pretty strong growth years in the next couple years you know assist also hard. If you think that there are injecting about an extra half a trillion dollars into the economy through tax cut and and that the spending bill that was agreed to with Democrats such as last week. You know it would be very hard to inject an extra half a trillion dollars and the economy and not get some growth effect to not person more economic activity. I think there's every reason I think this'll be a pretty good year growth between eighteen and and public when he ninety as well. Question what happened is that you know what point does this. You'd be these steps are to crowd out other kind of economic activity but what point does. You know interest rates rise league rise that's that's through risk that's been near term to term. But I was gonna ask you about inflation remained the number we got this morning at 830. You know if you annualized it it's over 3% that's got to be a little bit hotter than with the Fed would like to see. Yet Federal Reserve policy 2% inflation now they have been below that for pursue several years growth by year's broke. So you know we if we get back toward that 2% inflation that's actually kind of a win and that's getting back to where we where is that wants to be at least. The question is do we overshoot do we get into environment where. You know the economy running so hot spit that. Reid is get bit up so people are getting higher and comes which is great. But also that speed into broader inflation broader rights prices along types too worried about inflation I think to go back to these summer 2008 spent ten years. But we could end up back in that world pretty soon and that's a world where the Federal Reserve probably is raising interest rates trying to put on the economy. Cool down. At what point does it. Cost of the debt service were Rick what 21 trillion dollar deficit now. Yes be. You know post so right now interest you still quite low lights were standard so the actual. You know US government's paying in debt service in interest payments every year it actually fairly low to share of the economy compared to compared over the have been. Decade Aston and I think the question is what you know you both to the interchange certainly have. Higher total debt that's the trajectory we're on barring some big change. And city you know most likely higher interest rates usually when you have we're that if she issuance you have more economic growth. Also higher interest rates so that burden of of governments. Payments on on the debt service. It looks like it's gonna rise how right is now part of the rise how much of that squeeze out other kind. Kind of priorities government government might have had to Wear the numbers settle budget that was suddenly you've and I'm yours. Got a strong economy rate yet growth. Arguably and that 3% range wouldn't this be good time to deal with the entitlement problems related to social security and Medicare. Critic and you're gonna see. Real. Reluctance on the part of the Democrats you know it's it's one thing if 22. Deal with kind of locker bounces and Social Security spending for example. In kind of bipartisan way when when you collectors a lot of good base then and you can get to make a deal. I think he. If you're if you're Democrat you're. You know you don't want to Republicans deal to cut taxes on primarily on business and and that you that it excuses the pretext that. To cut social spending so I don't give very fertile environment right now they're so little trust between the trap administration and congressional Democrats. You know Mike Republicans trying to go it alone and do something on entitlements. You know you never know but but that would be receiving if they wanna be reluctant when he teens don't capture of the terribly fertile environment that kind of deal making it. Morgan Neill thank you nurture time we appreciate. You and Neil Irwin New York Times talking to us about the end of fiscal austerity. We have a poll question today and its related to the new CEO. Of chipotle he's coming over he's currently the CEO of Taco Bell. And last night I think this was announced last night. Aid topic Tripoli has hired him away from talk about what happened was. Steve Els who's the founder. Of chipotle. It's is stepping down and this new fellow Brian Nichols will be the CEO of Tripoli so we asked you the question which do you prefer. Chipotle or talk about talk persona what are the results so far. So far to pull lady is in the lead at 53%. On our amongst our listeners. To pull verses Taco Bell and once again you can cast your vote at financial change showed dot com. A C interview last night when I read the story chuck. Trump's blew a different style food boxes for poor could slash spending at Wal-Mart and dollar stores. You think I'm gonna get one well you know what I eat what I liked about this woman's. You know we we we don't spend a lot of time on it but you do read periodically. About food stamp abuse rate in you've seen it I've it we've all seen it would have been and a girl for store will see somebody. Loading up on junk food using their food stamps. With the tribe administration is considering is saying OK if you're. A single mother and you've got three kids in your own food stamps we're gonna send you a box of food. Every week as opposed to you giving you credit card that has cash on it. I'm not in it you're not. So and so these two labor intensive. And also were of the opinion that we don't want government tell us what to do. Until you're out of luck ran out well in general welfare and then there and tell you exactly what to eat yeah if you're if you're if you're looking for hand out. Don't tell me that you should be able to win. Each and every one know if you're younger Oakland Soto what are those regardless I even if you what we once once you spend your money it's gone. The abetted the pull a plea news thank you hear it if you want a handout you take what I happen to give. You don't take with you know what you want for you don't buy chocolate bars with food stamp money but that's what happens if if if you do that and that's what you get you you don't get anything it is knowledge if you buy chocolate all the so they give you more money. We'll talk more about it when we return I think the I like this proposal I it's terrific with trucked evidently does not. You're listening to the financial exchange. Life goes on FaceBook and followers 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 texted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Juries -- for two securities America incorporated member -- SIPC and advisory services are -- securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities -- 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 -- -- 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 reduced 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 -- technology tell them the -- as he -- team at 781 at 6418691. That's 7816418691. 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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 of federal flawless 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 that we cut tax rates if you're. Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log on to their website its USD. IE DA dot or best US. VI EDA dot or. 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 -- a partner go off from -- in -- -- the legal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes estate planning has many benefits but if you don't plan accordingly you're sure to miss out fishing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming then it 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 showed dot com fishing in Dolan has been helping families just like Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help you to call 8668485699. Or download the guide 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 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 -- our strong advisory ducked out. Dirty suffered two securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong represented if 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. Time now fall asleep watch a look at the market's performance so far today you act of Marion jog right here on the financial exchange radio network. Mike Armstrong is with us now Wall Street watch we'll start off Mike by talking about fossil which is up huge today what that's going on here. Bug it is Lou earnings. Out of the water and known was expecting it they earned and it and they've been beat essence report cents a share. Their revenue beat as well this in a profit march 2018 are going to be way up because there. Focusing more on wearable tech I mean this is the stocks that. You know back and tweet fourteen it was trading over a hundred to nearly 130 bucks a share and it's now you know which is huge increase. Almost fifteen dollars share so if you held the stock for the last five years you had a pretty rough on. Buried there. Deacon impressive move this morning stock up nearly six spots like he said that's it for Tom there's. In the chipotle Bergen on new CEO. Yeah I think it's about time and they hired top Tbilisi O'Brien nickel to have the company replacement founders Steve gals he's been kind of pulling back David management. Topic has not been doing particularly well. So who is Brian Nichols joined the number are as big talk about eleven and four days that Pizza Hut so brings a lot of experience. To really struggling brand that was kind of a you know few years ago was. Big player in the fast food industry and has been lost a lot of share. Very good thank you Mike. Mike Armstrong with Wall Street watch says go back to our conversation regarding food stamps and the white house calls the program America's harvest balks. In general save you as a taxpayer 214. Billion dollars. Over a decade now. What will be contained within the harvest box would be. Packaged goods like shelf stable milk. Ready to eat cereal pasta peanut butter beans and canned fruit vegetables and meat poultry or fish. This according to the president's budget proposal. I I for the life of me other than the fact that it's bad for Wal-Mart. And IDD it and in bad for Dollar General because that's were a lot of food stamp money gets spent 18% of all food stamp money gets redeemed at wal. Those of who's who's going to be the supplier fitness. And we go about choosing the ball mark now via the so all in all saying is we generally on this show. Our proponents of consumer choice and all of a sudden we're sitting here saying no in this case the government knows what you should be. The bite issue is it chuck I mean a big proponent of consumer choice and less if you're buying it if you're looking for a hand out. If you're looking for welfare rate which is what. It's food stamps are and I'm not saying you know people. It need public assistance is always going to be segment of the population people are disabled or handicapped the fallen on hard times I don't begrudge that. What people acting in at least what I begrudge is win IC food stamps being sold on the secondary market. That bothers me up and in this with the white address that promise that of doing this. I think it is it just matters and it it is this the cleanest waited like so. What makes you think that the US government is going to be able to efficiently deliver food. All the spam steak what subcontracted they make it and I guess this country like again. We've talked about not being in favor of no bid government contracts that's what we're talking about doing here is saying look we are going to just give this money to one company to handle all this. Panel is still better though than be giving her right now chuck we give democratic. We we do so in a better matter here's another question how government can deal you mentioned OK we've got peanut butter in there would be an affair with an analogy. I'm sure docket of request don't you know there an incident like that and who's gonna be responsibly you know why do we suddenly think that the government is going to be able to do this in a perfect way when there's all kinds of its while these a lot of us that truck they don't really care if it's perfect unity particularly because I still an improvement over where we are now how how do you know we've never done this. Well you have to go back nine the years to the last time we did this there's a reason why we don't do it anymore it's inefficient like that about all the costs that you haven't delivery that you picked up. I think one thing it might happen Turkey's if you went to a program like this people would drop off the poor. Why there'd be less people using has a lot a lot of people that are using food stamps now to don't really need they had it it's. Beat the you'd get some forty million households that are on food stamps okay. How how is this gonna get them off because it may not be as appealing right now you may have people that are gaming the system and using it for selling it and so I tell you we can get off. 5000010 million who bare faced I'm like what are we saying that based on like. We can't just say oh all these people are gonna leave because of it like how do we know the fact that this proposals coming up that truck. Tells you that people are disgusted with the abuse associated with foods would you put the government in charge of running all our medical. Then why would you put him in charge of our food. It's not in charge of our food it's in charge of welfare and and it's usually have their program I'm not debating that. OK but you look at all these cases there's fraud in Medicare and Medicaid you think there's not gonna be fraud here than. You always talk about is how there's more fraud in Medicare and Medicaid out there and now you're telling me that another government run programs gonna have less fraud in why. What do you prefer Tucker. You mean settler. Have you got honorary in this one Diana I don't know I don't think it's a huge deal to take you go to a pantry in debt like a package of food and go to a food bank is that take our town has food and I did give you whoop my big question will you you've said many times before there's no incentive for the government to get rid of fraud in Medicare Medicaid. Why is there incentive for them to get rid of it here. I guess I area I I just look at it is it is is less likely to be. Fraudulent why is it quote posted his right now we see so many instances of it being fraud. EC but even if it looks all Allen this stuff in all I'm doing is changing the delivery mechanism like you're not changing you know addressing the root cause of the problem. Which is the economy yeah you like if if you wanna get people off of food stamps build a better economy make it make it better for them to work in the not work you know that's the all of a sudden you talk about hey now we're gonna have his delivery system already know you delivered to the right people and we see tax refunds they go to the wrong people all the time how do you know that I'm not gonna sit here and say hey I'm so and so send me much she sent me my cheese in my cereal when this technically I'd develop more jobs and more Hillary's on. So now we want. Government jobs just because their inefficient like only if we're talking about efficiency wide as putting a whole bunch of extra drivers on the road do. Anything to generate efficiency I think you'd have people drop out of the program because he wouldn't wanna be embarrassed again box delivered to oust him couldn't adapt. That's the big they're going out in spending the money right now and the outlook for her like they're spending money people know what's an EBT card. None do. I've never seen once I don't know I mean look I worked as a grocery store cashiers it was pretty late yet you do Bill Bradley when your net if you're in a market basket. Do you really pay attention as to how they person had used pain. I'd identity check it out pissed off at. You know so if you're both at times acted Caroline is counterpoint to that if I'm behind you in line in your pain with the blues if it is a blue card call. It I don't I don't. I just. I think this creates a whole host of other problems into lake. Again poll question for tomorrow Tucker dividend what do you make it a poll question I just think eight what makes you think they're going to be more efficient to miss a beat. What makes you think that they're going to be able to handle any load layer of complexity on this in and see. Why are we all listen tell people what to eat like our whole thing is don't tell people what to do and now it's tell people what to do. I don't think it's really tell people eco whether you're Jim no white balance in their they're asking her opponents think even if you like when somebody goes to the food pantry in our town. It'll get to abide beef and later we got beat tentatively and it pickup what's there are the only saying is NCA tenderloin and that's what they're do and I'll show. It there. They're going into or restore I've seen it we've all seen so where where people are buying things I can't afford it. Use in the game foods so if you built the program based on the food here in the 1980s and you give people hold onto carb and low fat foods we know isn't very good like this would answer a lot of twinkies who's gonna decide what's in these boxes like. Think about the bidding that's gonna go on between like the daring the government of the side of him but that's what I'm saying it. Blake Tucker we definitely have that is it just makes my head explode to think that all of a sudden like. We certainly think that oh this is gonna have only good things in it based on what it pond. In the government has all of waste and we'll let the listeners decide tomorrow. Come on would you buy a business. Dad had 34 million dollars in revenue gross sales 34 million dollars in revenue but it lost three million dollars a year. Well like if I could cut those expenses significantly. Holy can we talk about the Boston Herald Boston Herald latest year deserve bankruptcy. It 34 million dollars in revenue that they lost three million bucks that revenue numbers seem to bode. Thirty or melt in. Tried twice what the globe has I use and I don't. I I. I don't know what if it's seen its low that's everything that's there advertising revenue. But regardless they lost three million bucks in one year yet and so it it appears that a company. By the name of digital first meeting has won the beating for the heralded twelve million dollar three companies to adopt. Are you surprised that there's that many like I was who's trying to get into a newspaper that's losing money today and who's trying to get in the newspaper business period. You know it's the eighth in The Herald does not have a paid subscription model no and I think they've really dropped the ball that because. You can criticize The Herald that they have some of the mosque Reid. Author there web site's terrible it is that equal terms of that of people like how we car alone right. They would have thousands lot of Clark's. Now they would have thousands of people paying just to recount and Alec are there web sites and readable I know well it's there is good news 1990 except it's good news that. You know the companies called digital first right but yeah that's so let's see what they are able to do on this you think that heralded as they felt that town is big enough. For two papers showed us M. Definitely I just I think the The Herald website is abysmal lake it takes years to load there's ads that pollen everywhere and I'm not debating that I'm I'm what I was surprised by clean that up their victory twelve million dollars. For the year for the company. And I think there's still a readership there that just need to figure how to reach the digital like that's that's the big problem is that there and yes it make you have to get them to pay. You know the globe had a heck of a time. Getting people to pay for their paper. What's the globe 99 cents a month or whatever as a whole you know will relax the even look at it on a globe this might eat twelve bucks a month digital path yes it's crazy yeah telling you the globe is very expensive. To buy an individual basis. And I I know they really struggled getting people over a tight companies have done a good job getting digital subscribers Wall Street Journal. New York Times. And I think that equal visitor post corner near post in Washington Post Washington Post yeah. Maybe it's it's it's a quandary to me. As to whether or not the other big globe actually I'm looking for the online one trying to figure out it's 99 cents a day aka no that's for the that the paper version actually. I am trying to find the online only one. Now malignant digital only says Nance and today. Real new if you wanna buy if you want me as I subscription to the globe I should know by the day I don't. It's you're probably talking and guessed twelve dollars today. When he hit a day at twelve dollars and what you don't. Why do you researches. It's more than noting a card to get a paper delivered every day why don't you research it and then we'll talk about it when we come back is up next Drew Neitzel joined by Zain Akbar from Morningstar we have the stock to chat about Zain that's next from the financial exchange reduce network. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. Hi this is very Armstrong last November my firm gave away a guy that outlined the seven signs of an impending market correction those signs included rising interest rates and overvalued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion it -- cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities offered to securities America incorporated members in SIPC and advisory services are with 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 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 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. High net worth individuals one of the biggest things that changes are some of the rules about gifting as well as higher rate in 41 K contributions how much do people put into a 41 K plan. Yes so back in 2017 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 you could put in there. Totaling 24500. However on the higher race side nothing's changing you can still put in 5500. And that IRA and adamant did not go up 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 gift tax return in 2018 that number is also going up to 151000 dollars so 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 on line. 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 on the affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. They say video pads ten pounds. But don't tell Berrian Jardine the financial exchanges alive every day on FaceBook and YouTube this. Here's the financial exchange radio network. Zen Akbar from Morningstar joins us now for a little bit of stock talk here in the financial exchange Zandt thanks for joining us. No problem things happening and were met Advance Auto Parts a year you bearish. Pretty bullish actually Advance Auto Parts has struggled for a number of years shortly after a very difficult acquisition estimated 2014 when it bought that car quest. Network of source. And a network integration was badly mismanaged and ultimately the management team turned over and we think any team is well on track towards turning that business around but it is a story for patient investors at the end of the day. We detective stocks worth about a 155. Dollars relative to where it's trading which is just under one tent. What are the big things that they are doing to try to turn the company around now. Teacher so it comes really it comes down to part availability of that business so it caters to segments one as the DIY customer and then the other one is the professional repair shops in the third party repair shops and auto dealership. But somebody who's just has a mechanic shop and is trying to make matters to vehicles. Part availability is critical to build those markets it comes down to having the right part of the right time as quickly as possible Padilla like customer needs to get back on the road as quickly as possible. The professional there repair shop meets turn over service space as quickly as possible avenue management team presented job prioritizing getting the part availability story right as they tried to integrate two very complex. Supply. And distribution chain. Are good Zain thank you very much of the time today. That's an act bar you from morning start talking about Advance Auto Parts that ticker on them you wanna look them up on your own is a a passing your assets along your family possibly eliminating estate tax and perhaps most important. Protection from the nursing home each week Todd what ski. A partner with the law firm of Cushing and Dolan. Post the legal exchange radio show and educates his listeners but telling them how to protect their assets from the high cost of nursing homes. Estate planning as many benefits but if you don't plan accordingly you're sure to miss out. And Cushing and dole has put together a brand new guide. It's called the top ten reasons to do estate planning an image. You're gonna find strategies they can help you navigate this complicated process while you learn what to do what not to do when it comes to setting up your life the state. Called out your free copy at 8668. Foray. 5699. That's 86684. Rate. 5699. You can also download it right now from their website legal exchange showed dot com. Jindal has been helping families just like yours with their state planning. For more than thirty years give them a call get their free guide and help you to call 866. 848. 5699. Or download the guide now a legal exchange show. Dot com to get some more controversy over WEEI. They they tend to kind of pick it up from time to time they'll need to step it. First they had the problem with Tom Brady right where they offended him one of the hosts out streamer. Firms had something derogatory about Tom Brady's daughter daughter who's to salute you know received. Issued just a little kid. In and then Christian Korea whose Victoria yep Fauria. He used to be a player for the pats return popular yet president he needed derogatory in in making derogatory comment he made. And Asian accent it was a blocking access yeah. It was a text your strategy do attacks conversation between Romberg borders and on Yi who's Tom Brady's agent yeah. Will that that turned out that's going to be expensive grow them as you should see despite the sponsors that they've lost Miguel like five announced appointment. Yeah they are three more than just left us Citizens Bank the Massachusetts state lottery and the mass health connector. All cutting ties with EE Boston yesterday union to. Yet they lost them expensive. When indeed the problem is once you lose those advertisers. It's not easy get him back. You know need news schedule that money walks out the door it finds another hole pretty rattle yep they'll they'll find another place to go absolutely a the he's. Just to be interesting to see how they're handling that. On Amazon's streaming service twitch is pulling in as many viewers as CNN and MSNBC now I didn't know it twitch was. Until I read the story I thought it was a newscast. Which is a channeled you can go to two to watch other people play video games which further. Makes me the end of the world is near yeah I think they are done that's. Have Arianna what do what do watch. If there is some video demos interest and then we'll highlight Latin there was a play I for I forget chart it was like. Early call dirty some stupid like that but. Yeah just on CL a game played and it's kind of entertaining to watch her vision more people watching that the news. They had in January they averaged 962000. People. On average a bill adding all that talk currently due to your area. Sure yes. The right track the world is coming worldly sending. Hey when we come back or be talking about McDonald's McDonald's is taking a direct run at chick filet will they be successful. I don't know but we'll talk about it. That's next from the financial exchange rate. 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 tuck we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention to your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Securities are for two 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 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 rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. 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Met 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 -- let's -- a partner go off from a -- in -- -- the legal 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 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 showed dot com -- and Dolan has been helping families just play Georgia Thursday -- for more than thirty years give them a call at their free guide and let them help you to call 866848569. Guide how tax reform. Affects high net worth investors and Mike when the biggest changes that we see is in the federal estate tax on the what happened to this number as a result of tax reform. Sure Sterne 2017. You can give to five point. For married couple that number was eleven million these numbers are effectively doubling so instead five point five million you're now looking at eleven million for an individual and 2.2 million for a married couple so this is really impacting very few individuals. I mean in the aggregate were. 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 your trying 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 to million dollars there's guys 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 knowing 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 heirs 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 803934001. Security suffer through securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. Many believe that the incredible success we saw 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 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 feel free guide 803934001. That's 803934001. Or download it right now at our 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 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. Assuming there are better than one that everyone knows that that's where offering to balance the one taking. You can he added tax and wildcat mountains in the same day Imus. They're just twenty minutes apart in the number ones found in meat. Two out in the once again WR downhill this winner and added cash and clout cat nap. Cricket dot com for more information 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 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 -- 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 log on to leader bank dot com right now that's leader bank dot com leader bank a step ahead. In new. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world and stay informed and up today. About an economic and market trends plus get breaking business news every day it's. And now the financial exchange with the Barry Armstrong and chuck son. McDonald's thinks that they can take a bite out chick filet. Hoover is losing a little less money but still managing to lose one point one billion dollars per quarter. And Amazon getting into a new business hi everybody is very chuck with you here. On a Wednesday morning. And I saw the story nested shark's gonna have an opinion on this one McDonald's is saying. If they're gonna getting to the business of competing with strictly now I will tell you. As they consumer. A fast food IE I would take McDonald's over Tripoli today but now McDonald's is basically gonna try to make the same type of. Product from what I can gather that Tripoli and yet that they're going after the that the code name of their project is project better chicken so that tells you what they're trying to do. On their moving away from you know the the nuggets the dialogue that they called when chicken nuggets but look as much I like the I don't know what's in them. And they're trying to move towards this higher quality ticket to others and there's no cat there to round up miscellaneous there's there's no cat in their chicken nuggets but there's parts I checked I don't want it hits they're not 100% enjoy it either. He has good here funny story yet when I was kid. We used to my dad love Chinese food I don't know if I wanna go down and and we would order Chinese food. Time and time again and it would get delivered this is back in the 1970s they they would Libya to call and then there's no lap. And it would make a phone call and then they would deliver the the Chinese food to your house. Well we we had been doing it for years and then all of a sudden they shut the restaurant down because they found out that the Chinese restaurant was using tax. All new in new news. Mission substitute. So. And that is. It reopened. Shortly thereafter and set and again at my dad didn't start ordering Cha and he's gotten a that's progress for a it sick at six months later Kimi meet Eddie and I added old Larry McDonald's hat I'm now I'm pretty sure enough I am pretty sure that. BC click. We consume in in chicken verses beef what do how many chickens the US goes through a year. I know it's a lot yet to guess we mean it is the US two trillion we all 92 pounds of chicken here. The the other night SC like a lot of the US goes through about four billion chickens a year or bill. About four billion chickens a year isn't close and we go through 57 pounds of beef. Per person so we read a whole lot of chicken at the court tilting more towards chicken see your open you are are fast food aficionado. Now I love big Macs I love McDonald's Fries I love strawberry milk shakes from McDonald's. And if they can now make me better chicken sandwich how much does this impact their bottom line. In the can they make money on this C. I like the McDonald's chicken sandwich as it is now nobody Tucker you have got one of those now they get the the chicken ranch you know. OK well anyway. So the question that I have on this is you know obviously. Should play has a robust business model if you look at fast food restaurants chick folate is more per store than any other fast food franchise in the country. Okay. I don't know how much overlap there is actually though. Between the chick filet buyer in the McDonald's buyer will this this home. But chick filet is more than just the food that you get if you walked into a chick filet and every employee that you meet is the nicest person you've ever met. I have never seen an unhappy chick fully employed there they always go the extra mile their staff is trained up better than anyone I have seen anything not open Sundays. Not open Sundays to drop but they are you walking in and you have you know the managers walked around serving tables. Just because really they do is just a different so he'll different culture it is and so while there's you know that there's an opportunity for mcdonalds here there's no doubt. I think terrorists I I I think if they came out with this spice the well fried cabinets and have that already yeah allows us a zombie very good I was gonna say this better chicken campaign for McDonald's is probably gonna hurt Wendy's a little bit too because day by far have the best. Check him out there yeah there's a fast through totally believe the latest chicken's good spicy chicken sandwich it forget about a phenomenal off give meat to those into junior bacon cheeseburgers. I'm good heard in ten minutes is subject yet. All right Leila that's the news at a McDonald's Hoover. Which is known and famous company. Day they lost one point one billion dollars during the last quarter but their sales grew by it looks like 12%. Yes sales up to 2.2 six billion from three months earlier their loss and that was just to put that in perspective that's what actually ends up coming through to the company their core was actually eleven billion. Rate make their gross receipts yes yeah. So imagine that the V. Eleven billion dollars in ninety days went to Cooper. And much of that used to go to taxi industry is it in this is why. Hoover has an existential crisis with their drivers as if they get rid of all the drivers and they well all of a sudden says the revenue being 2.2 six billion it is eleven billion that's how they get to profitability but they won't be eleven billion Walt they've reduced their prices will that be were ever pulled down a little bit but even if you say it's half. Yeah okay all of a sudden your opponent five billion dollars instead of eleven they helped set your profitable how are they gonna do that shock given the the legal settlement that they had with William. And we never got a dollar figure on that did we we did it was about 250 million dollars because what they did was he gave up more equity and Hoover. That's right they gave the evil again half percent stake or something like that is into the equation. Based on current valuation gap for Rupert I bite my question for for blueberries. You know you've got General Motors on their tail. Test was a competitor in this you've got new autonomy which now has very deep pockets right they've got their own by Delphi. You know. But how does uber compete with with label. Hopefully rapidly if you're if you're someone who's an insider with super Uga you gotta make moves quickly and in the gold how to do it I mean label has. Don't they have an insurmountable lead over everybody. Whoever company has an insurmountable lead until they don't you know digital equipment had an insurmountable lead until they messed up the technology didn't adapt and then oops there you go of that so. Which got a lot of work to do they're gonna IPO in 2019 that's their goal that's who Derrick has a shot he said they're gonna have to raise a heck of a lot of money. Because I think they're gonna have to just ramp up bear bear tech investment and even more than it already has been as they need to get to driver list tack. Within two and a half years. They need to be there is otherwise this is a losing proposition if you have to continue to employ drivers as you can get to profitability. It's I mean you're talking in the quarter. We talk about deflation. Right you're gonna have what 45 million people looking for jobs that's gonna reduce wages. And then you're gonna have cost of transportation go down by a even if it only goes down by 30% would win and that's it's listener yeah it is what I'm curious about you know a lot of a lot of people who worked for Hoover it's not their only job than. Yes of the people who lose a job working in and I talked to people you have to Wear that. Michael I talked to are they say look I'm doing this for year to an enemy to move on it's it's not a long term thing. I wonder how long do we need data on how long the average driver drive for him or no lead the just second what is he with the process my son who's in college and started driving put on Q Richard in a easy drive he drives for both number and the average person who actually stays for a monthly do they stay for. Three months today's day for yup I'm curious how long they stay out in and we don't have any data. Now well if that is the news they'll one point one billion that it's down but last year they are losing one point five billion per quarter. And it's rumored now. We we had reported. That Hoover was gonna go public in 2018. Turns out that was incorrect they're gonna go public perhaps in 2019 they'll have to. In and when they do that don't they have to simultaneously. Say we have drive this car technology and it's ready to go. You I would expect to driver Lewis tech announcement before the end of this year. This of the Dayton kind of springboard into next year's say we got this squared away now it's time to IPO and I think they got to do a big capital raise took him. The big thing holding back driver was technologies. The lack of law on the books. It's it's the lack of law and also the lack of a unified. System of symbols from state to stand in in county to county Amy you go through if you're driving for master's New Hampshire. That's one thing but it also begin to Boston to hold dip you know traffic circles you know you get on this day in court. Here here's the one that would that always interest in there's a neighborhood in new York and then. Where the green light is at the top of the traffic signal because it's a predominantly Irish neighborhood that date. They had this problem back in the day for the Irish kids kept throwing rocks at the red lights to knock it out. And so they find us at what the heck you guys doing their like will green should be on top and so they just flipped the traffic signal. So like you've got this one traffic signal a New York City it's upside down for that reason why I can understand them you know like this they are these the things that you have to deal with here. Amazon is pushing to turn its Mason medical products business into a major supplier to US hospitals. And outpatient clinics that could compete with the distributors of items ranging from goddess. To hip implants I think. This is a Smart move on Amazon's part because that's a high margin business what where's where's the bad in this business I'm not as familiar with the week where we're as the the hospitals are. Tend to not put things out to bid personable. And and they just Haiti can rack price war good so if they need syringes or they need drip bags. We don't negotiate very well and the aged by and they buy from companies like McKesson and others. And as a result. I think Amazon could take some of the cost at a health care business with this guy I'd be curious to see. What they're able to wat to do well on this front you know obviously they they've reduced costs across a number of other industries. And what's interesting here is that Walgreens. Was it yesterday the day before when they were exploring buying out AmerisourceBergen those yesterday you know you sit here and if you're Walgreens Zain. A little rap what we do you know take. We've really Amazon get me into this business but they they continue to try to make inroads that's maybe how they get into this business in May start off. With a non pharmaceuticals. Rate with all the over the counter get the distribution and plays start you know make those relationships learn what companies need and then all of a sudden and then and we're CVS and Walgreens makes a lot of their money is you lock in to buy your prescription and you walking out with six other items right. They Amazon might be looking at the same pay desired by alignment stuff for millions by shaving cream. By my knee razor blade I Harry's item I hide the weirdest order yesterday on Amazon. It was slate all off the deepen and certainly when you combine with these things work now I had. Spice jars now I had shoe tree. Few trees. We need you treason. And what was the third had something else that was in there about Iran and dollars. As opposed to three pounds of raw nuts mixed nuts. As opposed to corrupt ones yet not solve the owner rod means not so no gotcha gotcha. What else oh and I bought a blunder yeah. That's all stuff that you could have bought in the store if I got anywhere but instead I found that in all my research online and figured out what I wanted and now I've got all these hospitals are doing the same thing you know hospitals medical clinics doctors' offices there and start ordering the other in the unit the other thing is that I would never knew about her running shoes. On Amazon -- two weeks ago budget shorts yesterday you know it's it's like I said I'd never buy shoes I need -- they feel as a let me give it a shot. It's just too easy it's it's too easy yeah it's if it's becoming media problem addiction problem. They coming up we will be joined by any turn percent from the Wall Street Journal. Forget the 4% rule rethinking common retirement beliefs that's next from the financial exchange. The financial exchanges lied on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Is who's the financial exchange radio network. Hi this is very Armstrong last November my firm gave away a guy that outlined the seven signs of an impending market correction those signs included rising interest rates and overvalued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion it -- cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities are for two securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Advance to stay 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 cost of nursing no 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 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 in Dolan has been helping families just like Georgia Thursday claiming for more than thirty years give them a call at their free guide and let them help YouTube calling 668485699. Or download the guide had legal exchange showed done. Com 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 and they've got another one that he's surely worth your time to check out leader bank is offering an. 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 is 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. Amber FDIC a minimum Alex fees may reduce earnings rate subject to change without notice and may change after an account is opened 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 -- -- 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 that are strong advisory ducked out. Dirty suffer through 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. If you missed any part of today's show not to worry go to financial exchange show 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 buys you rent a funeral landlords. Take advantage of easy rent a fully automatic online red collection tool that is free for landlords with an account at participating bank and always. Free for tenants now a collection of local banks are offering this unique program including. Leader bank and stone bank sign up and have rent payments directly deposited into your account. Call 7816418691. Today visit Z rent dot net for more information member FDIC. Joining us now on the line is and terse in from the Wall Street Journal get a debunk some retirement myths and thanks for coming on us Iraq. In what is the conventional rule when it comes to the safe withdrawal rate for a retirement account. Right that the conventional rule listed when you retire ticket balance that you have a million dollars. And withdraw 4%. In your first your retirement which could be 40000 dollars. And then in subsequent years you can give yourself a breeze for inflation as a statistic that 40000 dollars in rated up by the rate of inflation. What kind of problems do you see with this line of thinking. Right to do a couple of researchers were Mary that is you know very influential and the retirement speech. Really. Very sound credentials. And it is because their concerns that you know in this current era where stocks are at relatively high valuations and bond yields are pretty low that you know looking at the future that we can't expect. Q can return to necessarily be as good as they have been in the past. That the beat UConn has rivers and meaner version for the next you know for first certain number of years to come bill that they weren't. Running the numbers looking at you know how he is at 4% tool. Given current valuation and error analysis indicates that. 4% is no longer the case have mounted this week spending amount would be more like 3%. Now when we talk about safe spending amount is this to be able to maintain this with no questions going forward. Or is this even you know you can run a declining balance and and still be a kind of factoring on on that front. Wait did to what what dead 4% ruler of what Terry I think to the 3% rule says is that. You can on the peak out that initial 4% or 3% over thirty year retirement and not run average and right and not. Even in the worst condition. Had in the past the fourth or account. OK so this is saying hey if you really want to guarantee you're not and I guarantee but come as close to guaranteeing as possible the 3% numbers better than four tonight. Exactly and the current climate 3% better than 4% for that you know that that's safety. What kind of asset allocation were they looking at when he came to these projections. OK questions that they were looking at what they call a balanced portfolio which state is fine could be into something about 50% not fifty. Percent bonds and I think it did what they found held true within that's forty to 60% equity range or maybe even slightly wider than that but at the ideas that's an epidemic of stocks and bonds. So if if you or someone who's listening right now and trying to save for retirement. Did they give any guidelines as far as hey how much you need to save per year on a percentage basis to get your kind of where you need to go. Yeah I mean not that that's a tough lining me up and you know what people uses several of summer or something like. You know received ten times your final salary before retiring. They actually continent that's going to be dangerous approach because especially when you got ample market did. In just play the fact that the market. Your talents it in the cola says that unit did give maybe. Said that Ed dangers people. Saving for that number and then. And the market inflate their balance they think look at arrived at the number I can stop skating I can retire early you know it doesn't take into account the fact that. When the market is up strongly you know tenure in that situation where some kind of cracks and might be. Might be more likely in. In the coming months or years and it's impossible to forecast the market and like valuations can dictate what happens down the road. Dope anyway it's it's hard to know. Make it shouldn't really paved with that number in mind and really more that you should caves consistent amount annually. In over you know an XT your extended career. Good and thanks for the time. And artisan from the Wall Street Journal talking about retirement savings you must start when you're young you know you guys are thirty and you know your ball saving for retirement but they'll be years potentially between now and and you actually retire. Where you may not be able to look forward to save as much as he can today because your pain tuitions. Worry your out of a job for Whitney you know like things happen like happens get a light cans and sock it away. In your early years because if you could start saving for retirement when you're 2223. When you first graduate couch right yet no family no expenses. You know and and people resentment I can tell you the bio children I would harp on them and they took their first jobs tonight. Help them fill out their papal organs it would be mean you've taken 10% of my pay for retirement I don't wanna do that of 22 years old. And it was always an argument you know with the kids he got a star when you're 22 because by starting when you're 22. You know that's still work and when you're 72 you might wanna work when you're 72 Italy knocked. Now it's it's it's the beauty of compounding you let the market do the work for you said that you don't have to. Hey a woman. Is refusing to cash in her 560. Million dollar. The lottery jackpot ticket we'll tell you why when we return. The financial exchanges and live on FaceBook so make sure 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 owned by your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. Let's go 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 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 or state tax let my team at the Armstrong advisory group explain 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 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. 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 do a partner go up 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 cost of 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 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 like Georgia Thursday claiming for more than thirty years give them a call at their free guide and let them help you to you only 668485699. Or download the guide had legal exchange showed dot com. Are better than one that everyone knows that that's where offering two mountains and 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 one's in the week. You mountains and once again WR downhill this winner at added tax and loud mouth. They go out and Beckett. 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 you're right special needs children that the biggest issue there is. He might already be receiving some kind of government benefits that Jewish. 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. And I wanna make it crystal clear out great reason to do estate planning is you have a trusting you to naught how often does inherit 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 a could use a family member who understands. And that what 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 trust and do an estate plan. Call Cushing and Dolan and receive their guide it's called the top ten reasons to create in a state plan. 8668485699. Toll free. 8668. Or eight. 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 yeah. So I'm bringing you the best in the business and financial news every day this is the financial exchange radio network. I'm. I miss this story when it originally heard that a woman from New Hampshire should baccarat lottery ticket at bear in Merrimack New Hampshire. And she won 560. Million dollars in the powerball lottery but she doesn't want her name to schools I don't blame. I don't either. The big reason why a lot of states like to disclose names now is because it is a way to. Make it more difficult to cheat the system. Because if you disclose the big winners are saying okay like we know that this is someone who's not related to a lottery official or this is that polls that's why they typically require disclosure and a lot of states. But there are several states in this is this is kind of one thing that I think might be interesting. Colorado Connecticut Massachusetts and Vermont says three New England states. Allow the prizes to be awarded to wait trusts. That is not in the name of the person and so you you know you can still get the money you still disclose who it's going to but without a specific name attack that this woman doesn't want her name disclose that all of his this woman in New Hampshire New Hampshire does not allow that they required disclosure. If you win one of these there she's suing and and she's pretty much saying look I don't want you change the law for me I just don't wanna have the law apply to me. If you finish thinks is gonna lose I mean I would imagine right. It's costing her 141000. Dollars a day talker. Yeah ticket it's not worth it fourteen grand dame. With the way what is not worth that's the interest on the ice time and paying them all that she is a pain in the but you know she went 560 million dollars and by not cashing in that ticket. It was she hasn't still has not done it in Austin or. Yeah and enter in her big thing is just look I don't wanna have relatives coming after me for money and wanna have been a fraud suggestion hucksters coming after me act I totally get it mean the you you can't live a normal life once someone knows your worth half. Billion dollars. Now Mary can't. You definitely can I know rage people they won't water lottery winners but that's for people in general yet that is the completely different that's harder money. You know water winners lottery winner and is like well you know margin. Cheryl willful but there and the answer is a bought the ticket to mine and screw this girl could have great guy but that's that's you lose friends are and you have released it then they were really your friend to begin it. Couldn't you win and then changing name. But you shouldn't have to do that mean that honestly if you win the lottery this woman won the lottery she gets 560 million box. Like I don't understand why the big trepidation yeah you're gonna get vocalist and how long your phone calls a week thirty days maybe. People pepper you for thirty days in yes you'll have cousins and you'll have nephews and nieces and Brothers and sisters asking you for loans you tell all the same thing screw. It how it's early so true I need to put it very bluntly. Quote a BB. I don't know I hate to be sound mean spirited but the fact that matters what's she got lucky she got lucky she won the lottery right. It is turning it into a negative thing to stay as strong more tests and outlook. Here's a thinks she's also this is true she's drawn more attention because once this name finally comes out which are well everyone who wasn't paying attention before this is the classic they call the Streisand effect is Barbara Streisand had a picture of her home in Malibu that you want to you know put up on web senator everything so naturally she sues to block him going up and everyone starts doing. What's Barbara Streisand's house look like she's the classic thing whenever you try to repress information and just make it worse. At any rate. Three simple habits linked to weight loss not eating as much exercising and sleeping I'm guessing I'm eating more slowly net. Avoiding snacks after dinner. And not eating within two hours before going to bed all linked to weight loss. A treaty with Cincinnati within two hours don't debate is a bit early now you know I was a bit less than 73 fourth. Why. Iron Man be so we're tired man just like I was tired I I've gone to the gym I had a long day at work I was like. And about at 730 I go to sleep at 730 you know is watching a little does the Bruins game in the Olympics but. I was like cannot run a very. Let me accurately to areas kids if Maria Jose is long gone go to bed at 730 mr. they're gonna have bad times too it's going to be five and I'll tell you I'm. In the two hours to get their blood and dead if you wanna lose weight I found a little secret. In all I'm not gonna get into it on the radio. But I've loss on our I've I've possibly new would you guys agree at Los oh yeah yeah a lot of so I'm gonna just keep the two terms. To look up. MacDonald's point one look up fast and read a book about fasting. Right just read read up on fasting and I think you'll find it to be very interest and then look up fast did. Carty. Just think it's. And what you learn is that fast it Carty talker is where you do. Hard Carty election so yeah onion step dad just an idea copy. How you have the energies of there's there's a lot of studies that actually showed that the best time to work out is why I work out in the morning this is in the morning because even if you haven't passed it you still haven't eaten in eight hours Murray it would gives you better -- in a better work out because you're burning -- that's actually considered a -- -- -- you know is that you don't have anything new styling look at me I'm I'm doing this night and you know fast it -- you write more energy and to any of these morning did what you get going it's it's tough the first five minutes or so on Saddam go what the heck am I doing like it's twelve degrees outside it's dark still you know it's it's not funny get hit by cars have to times less I do McCarty house make him a better machine in my house elliptical someone panel finally treadmills and stuff when he the real thing. Children born in September. Are smarter. This according to a recent study that was done so I looked at this and this is according to a study published by the National Bureau of Economic Research on it looked at cognitive development of about one point two million public school students in Florida. And they found that students born in the months September. Typically had higher score averages on tests. But the reason really is that they were just order for their grade and so they were more developed it's kind of the class they also gotten a crime if they get less crime issues they think they just made better decisions again it's a function of yet their little bit older yeah in that's what it is it's the classic thing where you see on what is the year and for. Hockey players. What do when I coached it was calendar year for. And to use look at your roster. Especially your coach in like eight year old and nine year old Jeff you're looking your roster and the kids that made the team were often kids were born in the first quarter of the year down. Just just as they have that extra development time he sees a ton with sports that are bitter segment by age. And it's it's just really interesting because just by being. You know. That much more developed at that age. All of us and you get better coaching better teaching and so you're more likely to trying to continue to develop and someone born you know in just the wrong month. At have you guys tried instant cart if you I don't hiding in know it existed. But ins to cart and they're not public. I don't. Think so I know to grocery shopping service. Actor Kirk Rueter knows enough public. In wit the way it works is you pay an annual fees pretty expensive. Be paying annual membership he. But then you can get groceries delivered. To your house within two hours and the reason I bring it up news. Whole foods and Amazon have introduced their service in four cities and evidently. It's taking off people are loving. There absolutely loving how can you not love it. Now I well taxpayer I don't buy I but if instead cart says don't care to shop at whole foods I I just think the prices are. Outreach they have is to cart. Delivers from wegmans. See so into the delivered to your zip code they do I've never use them league right in jewel and the weird freak who likes grocery shy evidence that Chinese are doing chuck it dished cell research can't go eat just eat meat and no I'm due to deal when I go grocery shopping every week. Sunday morning at 8 AM there's no when there lately if you let's see here at a different stage of life. You're you're you get to the stage lightly at six kids runner on the house. And that number goes up every week in and you don't have the time in and you're your wife's gonna save you I have to work late honey can you pick ups at the for dinner. And you this this whole. Op idea Vince to cart or the whole foods. You can just ordered the food and you know OK there were times and now it's 11:43 in the morning. In order the food in you know darn well at least on the front porch at 5 o'clock as you did specify. What time you wanna turn it down again I am the worst person to talk to about this is I know I'm weird I think about sign up for the star. Somebody's got to do it do marketed as a welcome in my place on when he uses his allegiance to cart isn't available or you about some aren't which it preferable but I'd tell you. Tell you what for the sake of the show. I'll do this wants aren't we have it now I just pick your grocers have to pay extra bit of money. Really didn't join hands to cart it after I have to pay for it yet you know what's the membership here we're and it's like a 139 dollars a year. Plus seven box or is there like oh will the show pay for eight dollars. Yes it shall pay fortify order it is available where I'm gonna try and Tryon NC it's a 149 dollars. Annually for membership. They give you unlimited free delivery twelve bucks a month. That's actually not bad 149. Year free delivered. Can't afford a 35 dollars for the stuff so if you do it once a week it's costing you three bucks a week for delivery I'll try it I'm gonna try outside efforts to cart today now that they've got to have a free trial of some sorts I since I won. I but you know what I'll use it. In and and checked to make sure it's available in my town I can't imagine it will be becoming upward be talking about bitcoin. Are you paying your taxes on your big point profits well you'd be surprised us how many people are knocking that's next from the financial exchange rated network. Bowed and our daily poll question had financial exchange show dot com millionaire player of the media player and watch the show while you work. This is the financial exchange radio network. 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 do a partner of the law -- of -- in -- -- -- 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 -- 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 in what not to do when it comes to setting up your life the 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 -- and Dolan has been helping families just -- Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help -- -- -- 8668485699. -- download the -- -- -- exchange -- dot com. Hi this is Barry 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 day of the tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of the EDA. This is a program us. Fully approved by congress has been in existence for about 45 years we have several companies that are doing that currently and we effectively reduce federal income tax because we do Ameritech system where we use of 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 talked to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI EDA dot or best US. VI EDA dot four. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in their dues 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 to Obama called as he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. 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 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 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 at our strong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are through 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. Security suffered through securities America each member finreg SIPC an advisory services arbiters securities America advisors think carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. 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. Business owners hail a lot of attacks in if you're successful business owner and you've got a company that makes a profit of 102030. Million dollars. You know exactly what I'm talking about. With a Virgin Islands offers you an opportunity to reduce your federal income tax liability by nine. To learn more and get a guide it'll walk you through the process call 8556223634. That's 8556223634. Call and learn how you can reduce. Your federal tax liability. On corporate profits by 90%. Barely anybody is paying taxes. On that deal on their bitcoin gains. Yeah this is big a mistake by some fascinating to follow fewer than a hundred of the 250000. Federal tax returns. Filed through credit karma to this point. Have filed a form for these crypto currency gains and losses its use this chart this whole thing. Is gone and so bad. I just yet it's like watching a train wreck in slow motion yup and in what makes this interesting is 52% of the filers so far normal meals. And that probably the ones who were most likely to have been trading in bitcoin you have to report that man because it's it's been calling. It's gonna end really badly for a lot of folks it's it is going to be similar to what we've seen the last couple years with people who drive for over something new get a 1099 and don't realize after we attacked on that income reported that much on lately haven't seen the horror stories coming takes about five years before the horse yeah it'll get it'll be probably next year's when you'll start getting into that all this and it's like go up at three years in back taxes tornado you know 121000 dollars in tax we're gonna come up with that. Well maybe from the committee warmth from. You know. But yet this this is going to be fascinating to watch how many people get in hot water over the bitcoin. It's going to be a lack of bitcoin. Taxation collected. Going to be a lot. Total US debt. Soars to a record above thirteen trillion dollars mortgage debts balance mortgage debt balances rose the most in December. Quarter rising by a 139 billion to eight point eight trillion dollars. Credit card debt also. We've just never met a debt that we don't like now that the nets it's. A little worried about the credit card yes I am to the credit card and auto debt is the one that makes me nervous you know on a mortgage OK at least you've got some middle appreciate in value over the long all. Credit card debt generally you bought stuff that. You know still used you know you know. It's not providing positive value today in new car alone hey look we all take him but came off as quickly as possible because it's declining us it's weird news. As the stock market goes out. People seem last month. Susie had this bull market going yeah. In the stock market is down in 20082009. Savings rates are very high it's the two that the two things that determine where markets go. Fear and greed when everything's bad at once fearful they say I don't wanna spend money now even though that's the best time to spend money that's where you get the best bargains and when everything's going well. One wanna miss out on that and I better get some get some money out there you know it's it's just regular wired with those two emotions that drive every. Guess which foolish strategy people most often used to pay back credit card it. I thought that I I've never cared credit card debt if I did I would pay out a high interest balance first. And that's what everyone tells you do what people do instead is what they called balance match and so let's say that you have a card. That has a thousand dollars outstanding one and has 2000. People say OK I'm gonna pay 200 of the 12900. To the one with thousands and instead of saying. Oh that one with a thousand has a higher interest rate should pay that off first date they try to balance between the two ounces that's a lot of ads for personal loans after his title on those last year does that I was like yeah they're they're all over the place now. And it's you know an idea about it. If you. Kind of credit cards immediately afterwards and stop spending on and that's not a requirement that we can work. Lot of times those loans those sale take your balance and then all of a sudden people don't open up new credit cards just run into balance. You know so if you say look I don't wanna pay 18% interest I'll pay 8%. And then my credit cards can work with people but. I see a lot of people who they do that and say. OG LE a 5000 dollar credit card balance. By some Morse. Vertex Pharmaceuticals. Is based in Boston one of the larger employers would you say in Boston Yemeni have that facility down seaport it is. Xbox I think that was the biggest private construction in Boston at the time like a billion dollars lot of high paid people there but they got another drug approved. They did this is their third treatment. For cystic by fibrosis. And what it does is it combines. Vertex is. Hole like OLE deck and proud programs. With a note there product that they may see the price tag on the drug 290000. Dollars a year. Patients are gonna pay it open you know 150000 or something but it's it's a big chunk but this is the only treatment that you know. Really has some significant improvement. In in one long function for people with cystic fibrosis it's a day that's what makes Boston kind of fun town. The DP it's the innovation. Particularly in health care. That comes out of the cities and that the money that. The city invested in Biotech twenty years ago is being paid back in spades off the job crease in the best thing that they've done economically in the last. Fifty years. Blue paper beat on top and bottom lines but there's still bleeding subscribers people sign up for the service like I did and they canceled six weeks later. Yet they they just they have such a high churn rate among. There users that they keep having to spend just an awful lot of money in order to get new subscribers to the can't maintain the rule on the stock is now three dollars and 42 cents a share. IPO and they were trying to IPO 1517. Still brought in in new CEO. Yeah I just I I question whether they're going to be able. There's a great idea. In in what. I Amazon is competing if BC in the Amazon okay so I think Amazon's can whack these guys have you seen the nuke it's and I haven't I have they said the use it must note that I would buy stuff they pepper. Very like if it's a good look at and meal I've tried I think Amazon's Nowak and is that the people who by the they're typically diesel cross over there between them whole foods. You know it's in I just look at and I say you can get everything in one place. I just I don't know I don't know blue apron as long for the swirled about a 51% of her listeners prefer to pull layover talk a belt and that I thought 51 and don't forget about the pole for tomorrow I got a lot of stuff on our FaceBook page are. Oh. Poll question tomorrow will be favored in favor of the trumpet news that's right for food stamps. Thanks for tuning in the financial exchange Tucker shock and very exciting for the.