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Full Show 3-22-18

Mar 22, 2018|

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This is the financial exchange with the very Armstrong and chunks are now. Pure exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day and and now the financial exchange with the Barry Armstrong and chuck Exxon. The story regarding FaceBook continues to evolve as we learn more about what happened. With regards to the data that was improperly used by Cambridge analytic. Over the last couple years the latest and this came. About his market's close is actually before that it was about 3 PM yesterday afternoon Mike. Was Mark Zuckerberg. Releasing a statement. David buck short but at least releasing a statement we're gonna dig into that here chuck out of Mike Armstrong here Barry is. In route back in will be back tomorrow. But you've got chuck and Mike queued they've got Tucker as always run in the shown turning off our mikes when we get annoy. I I will do that from time to do we'll do that occasionally but let's let's start with this Facebook's story here we we got a letter from Mark Zuckerberg yes they would you make of. Like you said too little too late. Today that there's not much that he can't say about this. Dade yeah he admitted they've made mistakes that kind of screw it up. And it's at its two made me that they can make some changes at this point but first off I don't know how he makes changes this platform. Without dramatically. Impacting the ad revenue and that they need to exist. So. I guess here's here's what he pretty much says happened in. And he said look so we previously had a policy though that allowed companies to share not only your data. But also data of your friends without their consent and and first bought by the kind of mind blowing the that was the policy begin with which is. Oh yeah have you sign up for a survey a company will be able access all your friends data even though they've never even taken -- right now I've been read any of that Facebook's disclosed but definite remember signing up that will be no windows just to reach the disclosure and no one reads the disclosure I mean that's that's just kind of how it is as you cook through you know those terms and conditions and say I agree to sign in my life over to Mark Zuckerberg and and then you wake up when they need say. Men. What was at being fit so. I think the first thing is no one really knew that that was the case wrecked Jimmy may be some people who warned okay this is something you need to be aware of but most people. Didn't know that that was actually in issue and so I think the first thing that I got out of this was. What lie under the privacy issues were were bad on FaceBook but. I know they were that bad and it would change that policy three years ago by the way. Right I mean that that's that that's the real thing here I think. It it is on all of us to. Read these things and understand what information is being given now to I don't you know I blame FaceBook but I blame all of us to you know we if you have to be aware of the fact that yeah if you are not in charge this product and obviously. Yeah you are the product that's we say over and over again but the extent to which this wind was. Quite surprised. The next question that I have. And in this is one any time that you see. A breach of trust that a company is committed it's it's it's a question that kind of comes next. The sincere and there piled art is they are going to be real effort to change year and in this case I think the answer is it doesn't matter and the reason why it doesn't matter is because I think that the cause it got to this point. Changes out of their hands now I think you have regulators in the UK looking at this you have congress calling for investigations. A lot of it's probably grandstand because how many congress people actually understand what the heck happened show here. Most of them probably don't get it they're not tech experts it's not what they do they're Smart people. It's just not their field okay it's it's like if you ask the doctor to code. He wouldn't be able to do it just like UPS Mark Zuckerberg do surgery he couldn't do that. He hears that is the thing with FaceBook is. Currently it has as many active monthly users if there's a quarter of the world's population. Is using FaceBook actively. This thing is going to be regulated by so many different governments. And don't say this what happens rated too little too late and now you're in the cross hairs. Obviously the stock prices reflected that of I think it went down 10% of the last three days. Or close to it anyway yeah. We we haven't seen a dip in trying to the last time we saw. FaceBook have a struggle. Of this magnitude as far as far as the stock price it's actually relatively flat today in a downward market probably because it is just sold off so much. But I'm looking back through its history. And the last time that we had something like this was at the end of sixteen I'm trying to remember what was going on than but the stock went from about 130 share. Down to 115 cities so about a 10% dip then. Other than that aside from those first couple weeks of trading where the stock was. Quite frankly somewhat of a mess in the first couple first year of trading really where the stock was kind of a mass yeah. It's pretty much been impervious to any kind of decline. It's just been a long slow grind up to this point. But I just you know he bars we got a lot of activity looking at that a lot of you trading activity going on here. I think the big thing that I wonder about for FaceBook is how big. Is the regulatory backlash doomed to be because this is one place where I could very easily see. Regulators whether it's in the UK the US other countries who who cares where it is see them coming down and getting a little bit draconian. With FaceBook. Well I could see that but I can also view of because this specific situation was rather political in nature you know with the came Dominica is saying you know in a very much played a part in the trump campaign whether that's true or not. This could also be a FaceBook could become the subject of political activism and you could have a lot of people saying I'm deleting my count because that's. I think will be a shame if that happened just because it obscures the bigger issue is right what's going on in those that's. I have no doubt that probably will be what ends up happening to share because if people say oh you know FaceBook abused my data to support this campaign the whether they supported this campaign or not. Doesn't matter and they didn't support any campaign had just shared the data with somebody else that is the issue. Is the abuse of the platform and of your privacy. And and that's what has to remain front and center here. My guess it'll probably get lost because we always end up well you know the and I know have these conversations go but that's just me a big question what does this do to the users the average monthly users are 2.2 billion people right now. Does this cost this caused a reduction in the monthly users to that's the bottom line for face on an end and so that's that's gonna take this to the next step. We know that FaceBook has and and and again that these concerns that you need to be thinking is used these platforms we know the FaceBook has an algorithm that decides what gets shown do you want your news feed. You know you're not being used your mute that the that they are not censoring bad news about FaceBook. But what if there are people who simply don't know about this because they get all their info from FaceBook and FaceBook. Says we're not gonna show this statement a sad day we have seen it gain a majority of their news from FaceBook put but this is the world we live in now and I'd what I hope and again I'd I hate to get. So boxy but occasionally I do. Is that we use this to look at it maybe our own behavior has to change as well as FaceBook bespoke as a whole host of issues that they need to deal with and they're gonna be forced to by regulators. You river really good point I don't I don't really use FaceBook as a searched as a source for news but I haven't really looked and I'd be very curious to see. If you look in any published newspaper any you know on my website it's all plastered all over there. About the FaceBook issues. If you go on FaceBook are you seeing them say and little else. I'd I'd I don't go there so I I hope and I wish that we use this to do little bit of critical self valuation as well and say hey. Maybe maybe and you did you abuse do more than just checked FaceBook and Twitter world you know I know that you can watch the financial exchange on FaceBook connect continue to encourage you to do that. But aside from that don't used at all. Just watch just don't use it for anything else okay. Let's move on to what trade wars because evidently again like some some real cheery news to start the day today. Trade wars and specifically the US is going to be rolling out some tariffs specifically targeting China today. And we also now have the potential for China can run back and saying to do little tit for tat and throw something right back after. Yeah that's exactly what we're like to see and its its interest thing with what China is trying to do here. Is there specifically attempting at least to target states that voted trump into office so they're looking at soybeans sorghum and live hogs. And which if you take a look at the states that it's produced these difference. These different items against Japan or China they are largely in agricultural rural states and such and it sounds like has deliberately. Chosen these products based on the. Do they have to specify live hogs is there a big market for dead how this hogs I assembly but but the you find this interesting because at the trump tariff plan. Was to say. Look we want to boost up industries and some of these states that have been hardest hit. In China pretty much comes back and says hey all those jobs that you gain in the steel and you know aluminum industries. Morgan just whacked it was somewhere else in pretty much make this net neutral but just raise costs for American consumers gas. Would be really and they re read it read known this for a west since the aluminum and steel tariffs came out we've been talking about soybeans I mean that's that is me. We don't care here in the northeast about soybeans in maybe you eat them but we don't have any agriculture based on us here. But it's a very beat being industry in this country. Let's talk about why the trumpet ministries and is targeting China here just because it's a good reason. Everything regardless whether you were agreeing with the decision to put tariffs in or not. The reason why this is being talked about here. It's a good one and the reason is China has a history of intellectual property abuse specifically they require foreign companies companies not based in China. To partner with the Chinese company. Effectively the Chinese Government in a lot of cases in order to open plants in China. What often that happens is that that Chinese company will pass that information along somewhere else up the government. And you'll see other factories open and if they do with the original company that are using the same intellectual property. And effectively they create a market for. Black market in electoral property to its. It Eads is a huge issue there and you've had companies of all sizes do you what does that seem companies have tried to do business in China. Where they're just opening you know million dollar you know line and and they say okay we're going to be fine. No there there on their at a business shortly I've seen this with billion dollar companies as well. It's a huge issue and it's something that does need to be addressed the question is how much pain does the potential trade war here inflict. On individuals. You have the potential if you start getting into you know terrorists coming you know from all sides on this. It creates significant inflation at the growth isn't there is a fancy word that we use that reminiscent of the early nineteen aides called stagflation that's right. OK a lot of us remember that act. Really was in the early eighties work finally started to go way it rates up to be a 20% in order to save a dollar and kind of keep things. You know as they wore. But Eads is it's something that should be on your mind as you watch this look. The user tariffs are taxes they are raising the cost of your goods in order to try to protect industries. Be aware that. Be aware of that. We're gonna take a quick break here and when we come back and talk a little bit more on tariffs and how certain industries and states are going to be dealing with them right here on the financial exchange radio and. Work like us on FaceBook and follow us on Twitter at TF fi show. Breaking business news is always first right here on the financial exchange radio network. Hi this is chuck Sodom recent studies indicate that in today's busy world more Americans are saving money for retirement through traditional IRAs in employer sponsored plans that's great news for those of you were closing in on retirement the money that you're saving is terrific what I'd like to do is help make sure that you protect assigning a beneficiary to passer assets on two after you've passed is an important part of elder life planning and my firm the Armstrong advisory group hasn't new guide out this month they can help you understand this process it may seem simple but there can be complications called out to get your free guide understanding that traditional IRA beneficiary designations at 803934001. That's 803934001. And he can also download it right now from our web site Armstrong advisory dot com sit. 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Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word batteries to 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. This segment financial exchanges brought you in part. By the US Virgin Islands economic development authority hurricane German Maria were devastating to the islands are already well on their way to recovery. If you're looking to start relocate or expand your business the US Virgin Islands one of the most competitive business locations in the Caribbean. Take advantage of incredible tax incentives that are fully sanctioned by the US government for more information. Visit USG IE DA dot org relocate your biz the US BI and reduce your tax by up to 90% to learn more call and receive a free report at 855. 622. 3634. US VI EBA dot org. Still a little bit more Steele bit deeper into this terror story it's let's first start with one. Talking about how this is going to up potentially impacts Massachusetts up here in New England your. There's some talk that this could end up hurting. Massachusetts cranberry growers yeah. I have I have my doubts but yes I mean cranberry growers 15% of world tremors or trees right here in Massachusetts who knew. The concern is not here with China China action does not consume all that many of our cranberries. European Union does as the big question you know the steel and aluminum terrorists are due to go into place on Friday. We got word yesterday that its navy they could be negotiated with they are working actively with negotiating with Australia. The European Union and a few other parts of the world to you know get them similar exemptions like we side of Canada and Mexico I think if you see that and the European Union. Then you won't see an issue with the cranberry growers but if they do go into place on Friday. It very well very well could be a little bit backlash. So this is something where it again you'd you would think there's not a huge impact in New England necessarily because we we don't do a whole lot of steel production up here we don't do a whole lot of aluminum production appeared. But these other industries could end up being impacted by retaliatory tariffs here. And and that's the big concern you've got US manufacturers now trying to figure out how to deal with. The potential for increased costs that they would then have to pass through to consumers as well that's another issue that we we have to sort through his. Book of all loosen you up higher input prices. They did that the company says look I don't wanna lose margin on I don't want to be making less I'm gonna have to raise prices on my customers. Yeah exactly and I think it's really important that we once again. Separating peoples minds to different terrorists that we are talking about first of all we have steel and aluminum tariffs. That were announced to be put in place across all imported steel and Poland and since then that's been balked Bakalar but he is. Tariffs no matter if it's coming from China or the United Kingdom. There's going to be you know supposed to be a 25% tariff on steel and what 10% 15% 10% not alone 10% and aluminum. That is completely separate from what is also being announced as specific targeted tariffs against China and personally for me. I am opposed to the steel aluminum tariffs but in favor of the specific target tariffs against China. So here's a thought that that I had yesterday is I was just kind of letting this all. Tumble around my large head. You have these cost that are gonna get passed on to consumers now use the example of automobiles okay. The the tariffs are estimated to add about 300 to 400 dollars to the cost of the average car that we buy in the United States have. It works at about seven billion dollars a year suit seven billion dollars that we end up spending. That we previously when they consumers and the spending that they wouldn't have. As a result of this so. Again let's call let's call a spade a spade a terror is a structure. In this case the tax gets passed along to the end user the consumer. So the question is. You have all these negative consequences that spill out because of tariffs you've got. You know use your trade partners are unhappy with you you know you get people throw their arms up in the air in this in that. Acosta seven billion dollars right. When it take that seven billion dollars in used to support domestic industry instead of trying to penalize foreign industry. Why. Why I guess it's this well because it's free it's the same thing. It's it's not it won't talk to me out so here is here is my opinion of why it's different here in this country specifically. We are very adamantly opposed to the nationalization of different industry I'm not saying that I really not saying nationalized but by supporting those industries you are. In in effect it at least visibly to mean doing something different than imposing a terror. Well let's look at this let's look at the steel and aluminum industry that the threat that is being post here and I think it's a legitimate one is a threat to national security and if you don't have those production facilities here. You were an able to respond in time of national security crisis. We do this with other industries the oil industry we have a strategic petroleum reserve for this very reason because it's an interest of national security that we have at least a month supply of oil stored here ready to go at a moment's notice. Why don't we do that with steel and aluminum. OK okay why don't we say look let's spend seven billion dollars a year that's what it's gonna cost American consumers just on their. And saying look we are going. To develop a strategic reserve for these because it's in the interest of national security why don't we say if you are. A contractor for the Pentagon. You have to go and make sure that you are buying this from a US based company because otherwise. It is a national security issue why we got to go. Why do we not go down that road I'm not saying they have you know US steel be owned by the US what I'm saying is. We we do these things for national security reasons in other industries. Why do we not simply due to knees in avoid this whole mess that we've created with retaliatory tariffs coming. Yeah I and I I agree with some of those things that can be done rather than the terrorist exact I. Tend to think that the terrorists and you know aluminum and steel across the board or a bad idea. When you when you quote national security. And then. Put a tariff on imports from your very closest allies you're sending a mixed message and that is my main that is my main issue with these stairs as you're trying to. Support and history for national security causes but then saying OK and we can't even trust the United Kingdom to supply our to ply supplier steel. Be fair and foreign policy. You never trust anyone because you never know how things play out when conflict comes up so that's let's take a quick break right now and then we'll kind of go from the prop the bit of that. From the frying pan. Into the fiery talk a little bit that the Fed and whether or not they are raising rates three or four times this year. On the financial exchange radio them. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. This is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of Wednesday with zero and leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit www. C Rand dot net to learn more -- -- rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months or free for -- landlords visit WWW dogs he -- -- meant to learn more or call 7816418691. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday snow Wednesday snow again Thursday snow seriously Friday snow Saturday more snow okay who's been Massa win my script Carol c'mon that's not do without you snow every day really. 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That's 86684856. 99 if you work hard for the past twenty years and enjoy a healthy savings account you're and a solid position to enjoy it later life hi this is chuck is not a saving money for your retirement is half the battle but making sure you leave it to the right people that's the other half beneficiary designations are not an afterthought and while most people try not to think about what happens after they passed it's important to set up your beneficiaries properly to ensure you protect your -- my firm the Armstrong advisory group has a new guide out this month to help you understand the process of beneficiary designation because believe it or not they're can be complications called out to get your free guide understanding traditional IRA beneficiary designations at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory. Dot com securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Time now for Wall Street watch a look at the market's performance so far today but I don't Berrian jug right here on the financial exchange radio network. It is time for Wall Street watched and like any guesses the white guess stock is up 25%. Today who. I do love just reporting on retailers that are actually having a good quarter deaths reported just quarterly profit 62 cents a share which beat estimates they also beat on revenue and their CEO gave a very very positive outlook. Thinks the beginning of a turnaround for the company you know in a time when a lot of retailers are going right out of business stocks up three dollars 77 cents nearly a dipped 25% on the news today. In a very very much struggling industry. Start by adored and they're down about 6% the restaurant chain finding a little bit of tough sledding today after a few years ago growth actually. Yeah I did parent company of all of garden as well as a few other restaurant chain chains they came in late on revenue as well as profit. And full year outlook is then OK not great. So we. The full year earnings outlook rather is okay but the revenue is looking down. And you know obviously investors not terribly bullish on the stock's down about 6% this morning 55 dollar 61 cents. I find it amazing that Darden owns such brands as the mediocre early terrible all of garden. But also owns your house and capitol grill. Right it's it's it's kind of amazing like. Olive garden is one of my least favorite places on worst yet it's not good it's it's it's it is not Italian food and it's and it's fake italics. All right smothered in salt smothered insults mother and all kinds of stuff you would never seen Italy the go to like a yard house nearly pretty good in this places. Pretty damn good at this place is pretty good I can deal with this ought to bear I just I find it interest in to have seasons ever and seasons 52 given up that incident to desert have been probably got longhorn steak has got all of garden. What the heck is bahama breeze I don't know. Somewhere I wanna go there's there at 39 of Erica and for some reason most of them were in Florida where you don't think you'd need a place like that it. I guess I mean you'd probably think their via here you know people now. Nose and you get ADB's prime seafood. Locating itself and Illinois Michigan Missouri and anyplace that you don't normally get seafood from. And yet they don't own red lobster anymore they sold battle what about four years ago now I think but I I just find this week of companies that they owned. It's it's just fascinating it's a wide variety which is good and it is kind of what you want you don't want to just stalled you know all of guard in longhorn statehouses and I have been to longhorn. Now I have one that's about ten minutes from me I've never been there I wonder if it's I'm guessing it's pretty similar to like now backers and I think it's like higher and it's a pack OK but it's stole affordable the topics of interest in a minute check those out and tickled will be a little weekend trip to longhorns and conscience. Let's talk about the Fed yesterday coming out in raising rates by a quarter of a percent. Also we got the much talked about dot plot the projection of how much they're gonna raise rates any surprises in this team like. I didn't see any I mean it'd be are still projecting through the rate hikes this year you know projected to lose would get us to about. Three and a quarter to three and a half by 20/20. A game you know there's occasionally the Al liar in the dot plot but nothing significant. What retirement adopt obviously. They pull all the different fed governors to say where they think interest rates should be an aid. Three months six months one year time period see concede just kind of the projections of where it's will likely increase did you see anything out of the north at a ordinary I think is a pretty good speech so. The dot product found a little interesting actually because if we go back they they do this four times you the last time they did was in December the and they said there was about eight. Fifteen maybe 20% chance that there were four or much more hikes this year. That probability is now to around 45%. America that's Brazil but I've found that's in your favor you were betting on four I found that some would interest seeing it in that more members are guiding that way. And in a particularly interest to see how this plays out with these tariffs that we talked about earlier is tariffs potentially add a whole bunch of inflation here yep. But they also slow the economy and so it's a case where. You kinda have to strike this balance in this is one of the big questions for the Fed. How do you you know try to keep the economy moving. But not overheating but also. Avoid you know thrown us into recession if they raise rates too quickly that's it's it's amazed at. It's a real real tough task for them to do it is LA it's especially inching to begins right. Now you know we talk about how low unemployment is and how great that is. But it's a little bit lower is in the Fed actually is targeting in a generally speaking we are at historical lows now. There's a whole lot of exceptions to that rule because as we all know the labor force participation rate is also really low. But it's unclear to me how much the feds looking at that how you know how they wanna move unemployment to me is. I'm not I'm not really getting a good indication of where they wanna go on. Folks wanna talk to you about the latest offer from leader bank. There's still time to make it 2017 Ira contribution. For the tax deadline we got about three weeks left until we hit April 17 this year. And so let's talk about leader bank's brand new offer which is an irate 21 month CD with an annual percentage yield. Two point 1% so it's less than two years in the get two point 1% per year on need a minimum balance of a thousand dollars to open the account. And earned a PY to take advantage of leader banks knew which certificate of deposit. You're savings today again APY is two point 1% with a minimum of a thousand dollars to open the account for more information. Cult leader at 8776917900. That's 8776917900. Or. Log on to leader bank dot com rate is effective march 12 when he team. In subject change without notice fees could reduce earnings in a penalty may be imposed for early withdrawal leader bank step ahead member FDIC. So that the latest nor'easter. Kind of blew out a little bit you know and in that liberals as well though so Long Island got. Why the blog that has twenty inches of snow you are not going any of the Hamptons are. Like completely under snow at this point it. Yet if any you know we do enter rushed up here they were overdue they knew that it was actually fascinating to watch this thing overnight there was a front that came down from candidate in actually push this thing backwards over Long Island who just hovered there. For pretty much an entire night in all the snow we are supposed to get them they got on long I'll bet you did last night you watch the doppler did you know do. So I've followed this guy on Twitter. Aria credit you other guys is Twitter handle is cranky weather gotten but he actually has a website that he runs called storm hamster dot com which is. I'm telling you if you go here do the weather resource is the maps and everything yet are phenomenal and I. And Tony this is the best place to go for weather. Yeah that Dick he was he off on the snow totals as well or did he predict this done the whole time so his original prediction was dogged while and he revised up a little bit but he pretty much he's pretty much nailed it from storm this winter and different and they again his is Twitter handle is cranky weather guy. And he is cranky let me tell you if he is. One cranky guy out he's he's phenomenal on this the reason we're talking about this. Airlines. Trying to keep passengers from clogging up airports is just at all kinds of headaches and problems for them they can't hold onto flights early on. Before people even to get to the. Yeah I see kinda two sides in this equation I mean they I think it's good if they're able to make the decision early enough and not get passengers lining up at the airport is. You know nothing makes you more unhappy than when you show up at the airport in and ten minutes later at text message on your phone hey by the way your flights and canceled good. At least they're canceling of pet you know far enough ahead and they're keeping people in their homes and you just read booking flights online or via phone. But on the counter side of that is you have a hold on to flights that got canceled Prague this morning that did not need to. I'd rather not show up and just deal with it that way as opposed to a guy I've gone back and forth from airports were to show up its cancer leveraged. It's not on it out my second least favorite thing behind wet bread and I just think the more you can keep people at home. The better it is let's take a break when we come back Christopher bronze for morningstar's can join us here talk about a mutual fund on the financial exchange radio network. Have a question for Berrian jock. Now you can text us at 63566. And take part in the show at anytime you start your text through keyword battery and join our exclusive club. Days as the financial exchange radio network. If you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online -- collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically NC rent dot net without the need to collect checks mostly in the produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology tell them the cold as he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. If you're sixty years of age or older and have an existing trust or in the process of preparing one please give me your on divided attention for the next sixty seconds. There many types of trust the people used to protect their assets but irrevocable trusts are very common to enhance the specific protections that lots of families want including the possibility of eliminating estate taxes. If you are unsure about whether your current trust does what it needs to do to protect the acid you've worked a lifetime for and make this one phone call Todd Lowenstein post of the legal exchange show in an expert an elder luck with the firm of Cushing and Dolan has been helping families just like yours of Thursday claiming needs for over thirty years and is new guide this month would give you the peace of mind you need if you're claiming isn't done yet the guide is called an operations guide to irrevocable trusts did it right now by calling 8668485699. You can also download the guide instantly by visiting our website at legal exchange showed dot com. Learn how to protect your assets toll 668485699. And get your free guide that's 8668485699. Hi this is jokes ought to and I am joined today by an estate planning attorney Todd lots key from the offer of cursing and Dolan with your financial exchange quick tip of the day and Don we're talking about how Irv Opel trust operating. A lot of people are afraid that if they transfer money into an irrevocable trust. The big give up control of their assets they have to ask permission to do anything is this a valid concern. You know it's not a valid concern but it's one that I can understand right people in general are gonna say. I heard your vocal trust you lose all control and and for a lot of years that's true and for different kinds of trusts that's true. Not for the kinds of trusts if you're concerned about Medicaid protection. This kind of irrevocable trust. You do not lose that kind of control at all what kinds of things can you still do in a near Boca bull trust that you don't have to give up control so let's say you put your house. And lived there you can pay your bills you can rent it. And you can sell. And you can buying a house with the proceeds and it doesn't even restart and waiting periods it's a wonderful flexibility you can also put in your investment portfolio. And and you don't even limit. The types of investments that you could invest in just because it's inside the trust some people get concerned that their trustee may misbehaved you have the ability to change trustees if that's the case you do we have the ability to change trustees and put on anybody else that you would like so. You have that kind of flexibility as well and you can even change beneficiaries. On the trot so. Folks in a concern you don't lose control when you put assets in these trust and you don't give anything away. Folks there's a brand new guide out from Cushing in dole in the details these very issues it's available by calling 8668. Horry. 5699. Its title and operations guide to the use of your provoke able trusts and again that number is 866848. 5699. Or get it online at legal exchange show dot com. The financial exchanges all over New England to go to financial exchange showed don't come and search for the station closest to you this is the financial exchange radio network. What we just mutual fund Mondays we're doing over the make up this morning so actually had a grab a pen and paper we're joined by Christopher France from Morningstar talking to us about the T Rowe. Price small cap value fund ticker symbol PR SV acts that's coming on press. It sue I just taking a look you know more generally when we talked about growth verses value obvious in the large cap sector the last few years growth has pretty significantly outperformed value have we seen something similar. On the smaller sized companies side and what in what specifically attracts you to the T. Rowe Price fund here. It's a question to you can turn a similar scene in small cast its market value is kind of held up just as well and in person because they'd been a really big beneficiary of contacts. That's come through. You know the last couple months. Particularly into what's on the small cap companies that have a lot of the revenue is derived domestically here so fake idea like beneficiary so kind of maybe focusing more on your current small cap value you know I know it's got value when its moniker but. Actually kind of a small cut Blankfein a few little so so alleviated David Wagner he's been at that don't since mid 2014. Can easily run to sprawling portfolio seal and about 300 stocks were kind of up across the value in broad spectrum and maybe we don't view of the world and kind of far. Value growth style back of the morning starts seems war. You know he's just looking for high return in the capital lower earnings volatility can lower leverage lower beta names and he's speaking of that. Over the long term by kicking small winners she's gonna do well enough analysis should add that. Can't minimize this sector better thinking you know that's not his area of expertise he's not trying to make a call on interest rates remedial loyal he's just trying to find. You know small winners two win a long term. I do tend to like that strategy of trying to avoid making big macro bats who knows where the price of oil at you know interest rates or when the next terrorist gonna come out but let's jump already mentioned tax reform which has obviously been a big boon. You know especially to companies that weren't able to oversee. You know senate budget money overseas like you know Big Apple companies. How do you see potentially. The new wave of trade terrorist perhaps. And helping or hurting these types companies. Well it's interesting in this market perspective to. Again just just trying to assume you know how much that revenue is derived you know outside of the source of the US so certainly there's going to be some. You know short term head wind that it didn't managers like David Wagner and others that you're just thinking more in the long term do you what kind of company fundamentals and bottom up. You know just just trying to. To remove that Atlanta risks so certainly there would be anything in the short term have talked a lot of mention that just say it just could be noise but you know. We we've heard about retaliation from China perhaps send you noted that could target some maybe agricultural names in the and heartland I think it's risk and capital agency. Chair a pretty good track are gonna market here it's you know outperformed the index both on the one in three year basis so well you know thanks for coming on talking to us about crisper again the ticker symbol. He RSV. Acts the T. Rowe Price small cap value fund and I was crisper fronts from Morningstar interest. It. Somewhat disturbing. Video was released yesterday regarding the the Hoover accident with the self driving vehicle. That hit the pedestrian and killed a pedestrian in Tempe Arizona. Did you watch this Mike. I idea Eric. Re watching and I didn't really seek an attic and it popped up Sony's new sites and collected and it's and it's not graphic or if you're right yeah it's it's from the police have a cut off the actual contact with the history I mean it's it's bad it's frightening does give you any clues as to why this vehicle hit this person I mean. To be fair you know if I'm watching that video it is very dark it is not needs that up I crosswalk that this person is crossing and it wasn't a crosswalk it was not a crosswalk at all guy who has a road is a road that they're crossing was very dark there are no street lives in this particular part of the road. I am not sure where I driving that I would have noticed this person. But my question is why didn't these. You know this car knows it that if the entire purpose of these vehicles is there's must be better breaking. I honestly don't know why the pedestrians at north car otherwise. Again looking at the car again I I think that the from the initial indication of this video I'd I'd hate to say things like this but it. There are words that pedestrian was at least partially at fault sure. Not a crosswalk but it doesn't it that's irrelevant yeah and if if a person head hit the spur of the person to drive in the car and hit them different story it was computer drag in this car. The entire purpose of these cars is to have you know very active sensors that are supposed to be able to see this stuff. And that's my question for Hoover's. You might not be at fault here. But wide in the technology and what about the human in the car or your impressions of that. Well the human the car isn't taking control unless there's you know and notified emergency they're notes must be necessary attention to what's going on it's not their fault they're in knots was preparing its and they're there in there to basically take control of the creator says we're having a failure Oca. Gotcha. You know the one thing that I hope doesn't come out of this is that people's jealousy those cars can't drive is if we reported every time that a person was hit and killed by yeah and their 150 of those today we do a whole show on that not even get through effort. Right yeah and again my point is that were hide myself driving this car I have doubts and I would be able to stop in time to prevent this accident or. But the entire point is over you're supposed to have these high tech. You know radar wide are sensors that weather cold. Quality if he did they're supposed to use it lead are is a form of radar affected that uses lasers to be even more accurate not to hurt people. But it's it's supposed to be able to new detect even in in dark environments. I don't know the specifics as to where the failure was on this. That they're clearly was something that was not transmitted via the cartel related tells Stahl it's related to the sensor that was where where the system broke down I don't know exactly. And look clearly these and again even with driver was vehicles. You're still gonna have deaths partner you're still going to have problems because these systems are not perfect they're designed by humans and so they won't be there testing to make it perfect so. I think it does to. Hey we still have via some flaws that we need to work out down and were always going to continue to have those but the people who sit there will be no accidents and will that there's going to be some share. The goal is if we can reduce them by 1995%. We're we're going to be pretty good there we just need to accept that hey occasionally. Machines are going to kill us and like. It's it's scary to say that you know like it's it's so it it's it's almost more acceptable another human kills you as opposed to machine room. Did they did says you just say human error right you say oh human made a mistake where is a robot doesn't he say well I told you so so. I don't know it's it's incredibly sad story. I just I just hope it doesn't derail some of the progress that is being. Made their what are the questions that this raced for a lot of people how the heck do you deal with the insurance. Problem for. Driver was cars who racked. Who is at fault. So I mean anything. In this instance the courts what to determine who was at fault here but. Right now all of the uber fleets each vehicles insured through its commercial insurance policy for a maximum of five million dollars per accident. No adequate you know again the question is let's say I don't know in this instance is a good example of that. But let's say that this was a completely at fault with Lugar and they go after this company for Tway thirty million dollars that's something that is a lot easier to do with it large corporation like this that might have been at fault the accident that an individual and individual is not you know to be going after that person that much money. Don't know if I just you know the question is you know obviously right now the company is ensuring that vehicle but. Do you take on some of that cost if you're driving it is second be part of your feast of the company has to pay for that insurance but if you're driving one of these vehicles will they reinsurance be that you paid addition you know so I just some of the mechanics there obviously you're gonna be interesting. And you know it's it's going to be one of these additional issues. That you have to work out in this brave new world where you're dealing with that in theory there's insurance cost should drop dramatically. Because Brett distracted driving in drunk driving and all those things should go way. Robots. Don't get distracted robots don't drink at least not yet I know some of the videos we've seen about you see the video Jeff Bezos and the robotic dog. I did yes we'll Chris frank little creepy Jeff and his robotics Fido. Little little creepy. Don't tell we have on this hour of the financial exchange Chuck Todd and Mike Armstrong and Tucker so we'll see in a little bit. It's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means of faster closing calling 8776917. B 900 that's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Okay skiers and riders let's take a look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday snow Wednesday a snow again Thursday snow seriously Friday snow Saturday more snow okay who's been Massa quit my script Carol c'mon that's not DeWitt that you snow every day really. When you've got the northeast most powerful snowmaking system just two hours from Hartford and even now you can count on great snow all season long. Mount Snow live to get there until now so get yours now at Mount Snow dot com slash save. 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 Z rent 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 tell them a cold as he ran team at 7816418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change this station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your estate taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time difficult time Lonsky time as a partner with the law firm of Cushing in Dolan and an expert an elder law they'll walk you through the process step by steps of the your trust to set up properly and efficiently. Now they're several kind of trust to consider that a reputable trusts are extremely popular to establish the kinds of protections were talking about Anton has written a new guide out this month to help you understand all the particulars it's called the operations guide to a remarkable trusts into tears are free by calling 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 866848569. I air raid. From either a spouse a parent or from someone else and Mike. It's a little complicated sometimes people who they go through a difficult time where someone that they know closely as passed away. In they don't know what to do with the money they're inheriting let's talk about first spouse if you inherit money. In an IRAs a spouse. What do you have to do so very simply. That's isn't the easiest version of this apparent money from a spouse. That hire ray can simply become your own firing the money can move into your own account you don't need to start taking withdrawals. Although I will point that you can start taking withdrawals if you choose to you just need to open a different type of diaries are before you make any decisions you need to decide. Do I'd need the money York night wade and further taxation stale now if you're not a spouse US significantly fewer options as far as what you're able to do. Correct if you are not the spouse and your inheriting a money. You must open up an inherited IRA. And that means you have to start taking money out the account immediately the first year you inherit that IRA. You have to take a required minimum distribution now there's a whole different tax table associated with this or it's not as bad as they are Euro seventy year old take BR MD. But the money does need to start coming out immediately. Folks the guy is titled understanding traditional fiery beneficiary designations it's available to add zero charge. All you have to do is call 80393. 4001. Or you can go online Armstrong advisory dot com and download it for free there again that number is 80393. 4001. Or you can get it online at our strong advisory dot com. Securities offered to securities America incorporated members Jenrette SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader bank. A step ahead. Earlier chart here with a message for all business owners that are listening to me right now how do like to save up to 90%. On your corporate taxes is so bent consider relocating your business to the US Virgin Islands they've got an incredible tax incentive program that numerous businesses have already taken advantage listen to Wayne Bakes executive director of the EDA. Anybody that's involved in the financial markets would it be hedge fund managing managing consulting in the they've done very well it should mean world and entities that are in designated services we have several cost senators are we have several centers are due back office operations and and then we do high value manufacturing where can do manufacturing and and do value added it has large margins and we have entities that do what the boys we've had medical device is a variety of those type of businesses have done very very well. This program is fully sanctioned by the federal government and it will lie your business to expand and grow learn more by visiting the EDA at US. V I EDA dot orchid. Do they are better than one but everyone knows that that's where offering to balance the one taking. You can he added tax and wildcat mountains in that same day I'm the only thing. They're just twenty minutes apart in the number one's in the heat. Until now instant once again W downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is Barry Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals and they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 25%. Annual percentage yield this is an online product only and there's no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And me. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world stay informed and up to. It's about economic and market trends plus get breaking business news every day it's. And now the financial exchange with Barry Armstrong and sharks done us. Ducks out of Michael Armstrong here Berry is taking a day off right now yet talkers over here as well. And big news today is the continued fallout from the Facebook's last Cambridge analytic just last. Who knows who else story. Regarding the fact that companies have been improperly using our data they collect. FaceBook probably not surprised anyone it's probably been going on since Facebook's started. But the question remains how bad does this get for FaceBook the stock. At one point was off about 10% from its ties it's now off about seven. But I think there's going to be some continued pressured because you've got you both domestic and foreign governments calling for investigations regulations. And who knows about it gets for the. Yeah and markets down as well as we continue to digest the yesterday's fed. Fed meeting Dow is off currently 342343. Points S&P off 3536. Points or one point 3% so. You know a lot of net new used to be digesting right now I think there's news starting to be some growing concerns about. Rising interest rates and you combine that with potential regulatory concerns are on technology. I'm on the FaceBook issue I forget who I was having the conversation with the might have even been. On the air couple days ago so who knows maybe we RD did this. Does anyone actually have one going on FaceBook that it does does anyone ever walk away from FaceBook and say wow what a great experience. I don't. Did you ever feel when you're done with that better than when you started. I think that's a tough. Question I mean yes and life. Yeah I I feel good when I get to share a picture of my kids immigrant parents. But you feel good going through the process to do that and you gotta we like public when you look at the entire thing. Yeah now do you ever feel good walking away from basement thing that was really doubt it's it might like one out of ten times. It's it's so you never walk away from social media feeling better than when you started. Greater if it's so strange that were addictive like ordered. Normally were addicted to things that make us feel good. And alcohol. Drugs. Gambling that things like that. Things that are awful for us to make us feel good Brett. FaceBook doesn't make you feel this makes you feel terrible notches like a wondrous makes you feel worse snapped jet makes you vomit out. Yeah it's but mostly like 90% fall all right fear of missing out these things make you feel bad in yet we still can't stop doing them all right. I've never seen anything like it. Now it is a very very strange. Addiction. Yeah it's I I don't know that I can psychologically explains it done buried. I mean I don't know maybe I'll log into it more free I know people every time on its perspective our depth thoroughness is very frequently it's it's it's. Everywhere now so I am I I think I'm going on a social media clintons and by the end to order. I hate note with some Twitter the I've. I've curator my Twitter feed now we're at it provides me useful information Merck and and really none of the crap that's normally associate with Twitter. And also like I generally don't browse the Twitter news feed I just search for the people that I want to read and read you know what they're saying because otherwise. You just go down some of these rabbit holes looks like. Met lake if you ever wanna see some weird stuff like. Play around with that there's flat earth Twitter which is a whole different ball lacks it's a whole bunch people think the earth is flat like there's all kinds of ways that you can like just lose your mind so it going down some of these let's. Go further down the story about FaceBook. What happens to me do is Google does Amazon and does Twitter do all these other companies start getting wrapped up in these same questions I mean. Presumably if they have these questions about FaceBook. At least you got the same questions about Google Google Stratton Google's gotta be tracked at least let's aim and Twitter nation yeah. Twitter there's a hole I mean the barrel the Twitter surveys that people go through knowledge all that stuff I mean there's all kinds it. I eight. I think a lot of these companies are going to get caught up in the crossfire here. And some of them rightly so it comes I'm sure that FaceBook is not the only company that has had problems with this gadget that's got to help it's kind of like in the financial crisis Bear Stearns wasn't the only one. That made some bad subprime bets minority you know like. It eats its widespread it's probably in a lot of these different places. Toys 'R' Us we talked about the the the bankruptcy they're going through. And how looks like they are closing their 700 plus stores here. There's potentially a savior for some of them though. Yes so toy company executive named Isaac we aryan is trying to raise some money so far he's pledged 200 million dollars in financing. Hoping to raise you know 800 million in total. To bid up for some of these stores about half of the stories that are due to closed. Putting together a bid for you know he's got to have a vested interest in this he owns about toy companies where 20% of the sales go to Toys 'R' Us so I see why he's doing it. We'll see you never really know exactly how things are gonna end up once they go through bank. Boy and an in his reasoning here is that by salvaging these companies we talked about this last week. The toy industry would benefit from it because otherwise you're gonna see a short term loss in sales due to display shoppers. So he's not doing this out of the kindness of his heart although he's doing a. Pretty good job in the media. Beating up that I know it's the kindness it's you know we we want to this is an iconic U you know American. Store and you imagine your your childhood that Toys 'R' Us is pretty doing a pretty good job. Bringing up those feelings trying to Pete I know and pumped up about it nothing sells better than the stalter now not nothing sells better than the style like yeah he's doing you've been. He's putting on a very good pitch I give him a ton of credit on that is nothing sells vigna remembering your kid yeah everything was great it was five or ninety days criminal act fast if it. So personally I don't know if I don't have fives through ten year old kids I haven't spent a lot of time in Toys 'R' Us I'd. Has spent a whole lot of time and babies. And I am surprised that there has been really no mention that there's something happening with babies. Who could still without assets are outside IDB is that it has it does that as the only retailer that I mean. Let me take that target has some baby stuff Wal-Mart has funny baby step but for specifically baby store yeah it's it's really it's. Yes that's babies. I'm surprised that nobody stepped in to say yeah this is a successful brand it's much different business model from Toys 'R' Us were a step in and that run. That's here they'll buy buy buy baby has a 135. Stores Toys 'R' Us and get to as a person worldwide. They get seventeen hundred's so it's obviously at a massively different scale but I baby is owned by Bed, Bath & Beyond right yeah. Yeah so yet daddy I do find that interesting but at a wonderful lot of people. I mean again you you know more about this tonight since you are an actual parent of a little human being at due to a lot of shopping online for clothes and stuff like that I mean is that something that. Yeah I mean effort close we do but you know other things you just you wanna see in person a herb at least my wife as you can make. You wanna go thinks for babies do you blind person so we ended up buying the crib online but we went and saw some in store. Sound advice and then shop for price and maybe that's the real issue but you know they have people that you can talk tiered BA you can go look at hold everything. Bottles. Carrying bags clothes. High chair or toys. Again accused Syria and frankly everyone gives toys is if so aka we haven't an eight whatsoever. But all the stuff you know a lot of that we've gone into a store to check out early especially the car seats and things like that you know having somebody that you talked to in the store useful if used please stick the cadre in the RC I'm surprised again I'm surprised the Babies 'R' Us is struggling alongside the Toys 'R' Us. Let's take a break here and when we come back Adam Shapiro from Fox Business is gonna join us to talk China tariffs and give us a market update on the financial exchange radio network the financial exchanges line on FaceBook and you do want to Berrian jog do just the issues of the day and see which ones miles the most. Financial exchange radio network if you're sixty years of age or older and have an existing trust or in the process of preparing one please give me your on divided attention for the next sixty seconds there are many types of trust the people use to protect their assets but irrevocable trusts are very common to enhance the specific protections that lots of families want including the possibility of eliminating estate taxes. If you are unsure about whether your current trust does what it needs to do to protect the facets you've worked a lifetime for and make this one phone call Todd Lowenstein post of the legal exchange joke and an expert an elder luck with the firm of Cushing and Golan has been helping families just like yours with Thursday claiming needs for over thirty years and is new guy this month would give you the peace of mind you need if you're claiming isn't done yet the guide is called in operations guide to irrevocable trusts it right now by calling 8668485699. You can also download the guide instantly by visiting our website at legal exchange showed dot com. Learn how to protect your assets toll 668485699. And get your free guide that's 8668485699. Hi this is chuck -- recent studies indicate that in today's busy world more Americans are saving money for retirement through traditional IRAs in employer sponsored plans that's great news for those of you were closing in on retirement the money that you're saving is terrific what I'd like to do is help make sure that you protect a signing a beneficiary to passer assets on two after you've passed is an important part of elder life planning in my firm the Armstrong advisory group hasn't new guide out this month they can help you understand this process it may seem simple but there can be complications called out to get your free guide understanding that traditional IRA beneficiary designations at 803934001. That's 803934001. And he can also download it right now from our website are strong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi this is Gary 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 got another one that is 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 to date is rate may change without notice or 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. Three 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 step ahead. Member FDIC a minimum Alex fees may reduce earnings rate subject to change without notice and may change a current account is opened. Very our chart here with a message for all business owners that are listening to me rate now how do like to save up to 90%. On your corporate taxes is so -- consider relocating your business to the US Virgin Islands they've got an incredible tax incentive program that numerous businesses have already taken advantage listened to Wayne Bakes executive director of the EDA. Anybody that's involved in the financial markets would it be hedge fund managing managing consulting in the they've done very well that should mean world and entities that are in designated services we have several cost senators are we have several centers that do back office operations and and then we do high value manufacturing and how where can do manufacturing and and do value added it has large margins and we have entities that do what the boys we've had medical device is a variety of those type of businesses have done very very well. This program is fully sanctioned by the federal government and it will allow your business to expand and grow learn more by visiting the EDA at US. The IE DA dot pork. We wanna hear through do it. Tech Steward diaries 263566. And let us know what you think about the stories we discussed your team to the financial exchange radio network. We're joined now by Adam Shapiro from Fox Business talking to us out a little bit more detail about the terrorists that are expected really any game now on China. They're coming on Adam so what is the what is the current status here when are we gonna get an update on exactly what's going on. The president Bynum memorandum that well they're the this after and that's but it vehicles this year. The timetable for actual terrorists being posed. That's another issue date that it will be immediate acutely a public comment period before that happened. What statement that the earth is that the the best that they trade representative is going to do that we. To the president for terror targeting he's got the equate or value roughly if at all. This will be very big in the don't use the market. He's been preparing for this but today that they that the market. Is a little about it and you know much about one of the points out not act. Adam working at these tariffs that are going to be proposed to the big concern that most people talk about are the retaliatory. Tariffs. Any guidance as to where those may be coming back towards us. Absolutely. If you grow solely being in Boston here in trouble mostly it'll be targeted toward agriculture in the mid west. Beat the Chinese imports so much from much regarding agriculture a lot of that's going to be really be have a list actually. From the US he or. Imports so. The Chinese import miscellaneous Rainsy but it edit it if we keep them in dollars it's equivalent to what we ship them. In accord to aircraft Boeing as well as aircraft port fifty dollars. He can expect. Retaliation from China. At some point in this sector. And the question we get an awful lot from our listeners is where does the US stand in relation to other countries as far as. The the the baseline level of terrorists that they charge on imports to do we have any idea where we stand as far as are we higher or lower than them. You know it's a good question I honestly don't the answer to I'm trying to get it to US or and as I calculate. Position. We keep your administration talk about terrorists were. Europe. That are charged on product the company the united from the event in Europe. And the claim that is that we subsidize for its its aquaculture. And so on government policy. And so. It's it's it's for that that you would want that in the WTO and we always went argument for the yet. That's that would be the way to think it out. As far as this this market goes it's been choppy for near nearly two months now at this point and and obviously the chopping this is continuing today what kinds of things can give this market a little bit more certainty even if we just level off day at a lower level what's needed to find a little bit more stability here. Little more stability. I think if you got some kind of announcement on NAFTA negotiations as well as the Europeans. According to steal the bears the market would like to there's stability there. And if we can get the Chinese and negotiating table with. Tension. What the administration is hoping to do and that they lower some of their various investment in China. The market would appreciate that but as far as the volatility where spirit think there's a whole new dynamic underway right now which in. Hewlett yes it's that mr. meetings were gonna have GDP grew two point 7% as but the Fed is predicting there is pressure on. Lawyers to raise wages. And you start seeing that have been passed on import costs to consumers but get ready for that they are going now and if the patient goes out. Mark it would be a little bit happier beat that pretend this is just speculating. Way to take this couple but it inflation does point out that reservists happy therefore they don't need to change there policy direction of monetary policy which means the signaled three baiting beat this year. Is wearable Stan is facing got out of hand and that the fourth markets. Adams circling back to these tariffs that are specifically directed at China. Has this been tried anytime before in recent history. In recent history we tried terrorists all the time but what's different now it. China edit the WT you know in 1990. And it is you know but they feared that YouTube posting is another issue we tried terrorists in the past and people who support terror. I will say that it does work in those two. Don't as we try to feel back in 2003 with that it does sort of backfired and that it yeah. Looking at the that I know that you'd you'd you'd you touched on that briefly as well one thing that did stand out to me. The that the dot plot and I love that phrase first of all because you know when I never heard of it before two years ago now ever won. 2011 is committed to doing it. Yeah and you know everyone's of assessed with the stop clock. That there was a ship there in that it implies now that there's about a 40% chance that they may end up you know going for hikes this year. Is that cause for concern when it comes to stock prices or other asset prices. Is it cause for concern. That's been done which is yours your strategy is and how you and best I mean the top spot is not gospel. So which occurred a panel say that they that mr. presser yesterday the chairman is that slow and steady. And that they they do see some things that Verizon and at and hit their target next year with a place that about but. An indicator of how they feel they're against that's gonna change when we get and other top spot or. Very good Adam thank you for the time we appreciated is always. And spear from Fox Business talking about the tariffs on China as well lies. The Federal Reserve there one thing that's interesting is you know if if these tariffs do and of going through and we have retaliatory tariffs. Inflation could take off with the more quickly the Fed might have to move faster in that situation. The enemy. It depends just how widespread the terrorists are. Days I remind people we did terrorists in China just recently entered the Obama administration. Nether very specifically targeted Steele elementary frankly didn't work at all. Now and there seems to build a more optimism about these terrorist working getting into the table. But you know there are WTO members just a few years ago we did these terrorists and all the they had to do was just you know move the product throughout the country so it'll be ancient sea. How widespread these terrorists are that we target China with and again the retaliation on their part. A little bit of trivia here on the financial exchange now and pitcher Jerome Powell at his first meeting of the outfit of this week. So we're going to be asking trivia question about chairman Powell. Which president appoint to Jerome Powell to serve as a member of the Federal Reserve board of governors not the chairman. But the board of governors which president appointed. Jerome Powell to serve as a member of the Federal Reserve board of governors and be the first listener to Texas it's 63. 566 on the Dhabi use text line with the correct answer. And you and a fifty dollar gift card. Adopt videos they've got five locations in the Boston area including a new one in Braintree at the South Shore plaza in w.s is open daily for lunch and dinner. And Sundays for brunch. It's the perfect place to host next special event so visit obvious today in Boston Foxboro Winfield Chestnut Hill or the newest location. In Braintree in you can visit W dot com for menu information special events and reservations once again the question. Is which president appoint to Jerome Powell served as a member of the Federal Reserve board of governors and you can text it's at 63. 566. With the correct answer. Google is taking the plunge into blocked chain technology Serena get Google coin coming out soon. Man you got going yet as to educate me on this alphabet its second. On boats. Tucker now that that I aerial is net notes alphabet the one parent current health file fraud protection. But once they are encouraged by is this is the first committee's stated they're getting into blocked chain. Where I haven't scratched my head and said what in God's name does this company. Have any interest in this thing for a Long Island iced tea lady Long Island iced tea like got Long Island block chain or long blocked chain. Like Kodak dissent there and you watching Google is the first for a set okay. That's a spur people there I can see them doing some of this is hitting corruption is that what they wanna use this force. Well it's it's it's trying to develop a a ledger so that they can effectively track. Transactions and in the port of blocked Jane is that you have independent computers that compute the solution to a question. And decide on whether or not someone is satisfied the requirements for a transaction that's that's a block chain is supposed to do. It's of that not just one party verifies is that you have multiple parties. Verifying that transaction happen properly. I guess my my question is. With everything we've just seen about FaceBook. Do you necessarily trust Google to build. Balked. Who'd who do you trust yeah I mean Internet today who LC and a chocolate and a note. Don't don't just say who else is like we we can't just punt and say. OK there's the only game in town we have to be able to answer these questions otherwise we're gonna end up right back in the same situation. Six months or a year from so. I think I I really think if one good thing comes out this FaceBook issue. In May we start asking more questions about who we trust with our information. Maybe we start asking more questions about whether we should post their pictures on FaceBook or instead to send them privately. To our friends and I am point. Some some big questions will be answered and I hope we ask them let's take a break and it wouldn't talk about how confusing is paid taxes on crypto currency it is a mess on the finance. Exchange radio network. For. The financial exchanges and live on FaceBook so make sure to like your page and watch the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Hi this is very 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 they have a tax incentive program offered by the economic development authority that could help save up to 90%. In your federal income tax here's Wayne big executive director of the EPA. This is a program us. Fully approved by congress has been in existence about 45 years of we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech's system where we use of federal foremost with the money season 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 Europe. Business owner looking for tax breaks to 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 USD. IED a dot or best US. VI EDA dot pork. Okay skiers and riders listing look at your long range forecast for Mount Snow Vermont Monday no Tuesday no Wednesday snow again Thursday no seriously Friday snow Saturday more snow okay who's been Massa win my script Carol c'mon that's not do without you know every day really. When you've got the northeast most powerful snowmaking system to your hours from Hartford and you know you can count on grades LLC and loch. Mount Snow live Digg gets around don't mounds and get yours now at Mount Snow dot com slash saint. If you're nearing retirement age and have yet to set up a trust to protect your assets do not change the station for the next sixty seconds. Why do you need to trust numerous reasons not the least of which is eliminating your state taxes and avoiding costs associated with probate if you're over sixty years old and are preparing for retirement now's the time we called time let's see time as a partner with the law firm of Cushing in Dolan and an expert an elder -- they'll walk you through the process step by steps of your trust to set up properly and efficiently other several kind of trust to consider but reputable trusts are extremely popular to establish the kinds of protections we're talking about -- -- has written a new guide out this month to help you understand all the particulars it's called the operations guide to a reputable trusts into tears are free Michael and 8668485699. You can also download the guide instantly by visiting the legal exchange showed dot com don't leave this very important process to chance call right now and did your guide at 8668485699. That's 8668485699. Better than one that everyone knows that and where I bring to mountains and one. You can add cash and how that mounts in the paint on and they're just twenty minute aren't and number one in the how might. Now he's the one WR downhill this cleaner and added tax and clouds and that. You out and we can't dot com for more and. I. Hi this is chuck exotic in I'm joined today by an estate planning attorney Todd lots key. From the offer of cursing in Dolan with your financial exchange quick tip of the day and Todd were talking about how herbal herbal trust's operating. A lot of people are afraid that if they transfer money into an irrevocable trust that they give up control of their assets they have to ask permission to do anything. Is this a valid concern. You know it's not a valid concern but it's one that I can understand right people in general are gonna say. I heard your vocal trust you lose all control and and for a lot of years that's true and for different kinds of trusts that's true. Not for the kinds of trusts if you're concerned about Medicaid protection. This kind of irrevocable trust. You do not lose that kind of control at all what kinds of things can you still do in in your probable trust that you don't have to give a controls so let's say you put your house. And lived there you can pay your bills you can rent it. And you can sell. And you can buying a house with the proceeds and it doesn't even restart and waiting periods it's a wonderful flexibility you can also putting your investment portfolio. And and you don't even limit. The types of investments that you could invest in just militants by the trust some people get concerned that their trustee may misbehaved you have the ability to change trustees that's the case you do we have the ability to change trustees and put on anybody else that you would like so. You have that kind of flexibility as well and you can even change beneficiaries. On the trot so. Folks in valid concern you don't lose control when you put assets in these trust and you don't give anything away. Folks there's a brand new guide out from Cushing and dole in the details these very issues it's available by calling 8668. Horry. 5699. Its title and operations guide to the use of irrevocable trusts and again that number is 8668. Horry. 5699. Or get it online at legal exchange show dot com. It's hard to dial a phone or send an email list to dumb but it's easy to text we've got and tech sign up and running when you can tell us what you think right now but texting us at 63566. You skewered Barry and join our exclusive club this is the financial exchange radio network. This segment of the financial exchanges brought to you by a leader bank if you're looking to diversify your portfolio. Precious metals are Smart investment in gold and silver bullion coins are now available all leader bank locations. So call 8776917900. Or log on to lead a bank dot com for more information member FDIC. Mike we get a trophy winner reduced so the correct answer was not George Bush who is not. Bill Clinton it was Barack Obama who. Who appointed Jerome Powell the current Fed Chairman. Paul from lol I the first correct answer he's won a fifty dollar credit and gift cards should obvious obvious is five locations in the Boston area. Including their newest location in Braintree a poster special event obvious visit www. Obvious dot com for me and you information and reservations. Tucker at the text line is somewhat new doing just got reiterate how people can Texans showed yes Sosa if you haven't joined our tax club yet only if the do. It's text the word bear re with along with your first and last name 263566. And you ought to do a wants what you do that. You're in the attacks club fuel. No quick market update now was the Dow is off 428. Points at the moment. The S&P is off 43 the NASDAQ is up a 130. The Russell 2000 is off fifteen points. Bonds which had been sold off pretty much all year. The ten year treasury is down ten basis points so a bunch of money flowing into bonds. The most probably the last six or seven months now. Gold is up seven dollars an ounce oil is off. About eighty cents. It's a sell off in just about anything except for golden bonds right now flight to safety is is pretty. Pretty pretty clearly happening here yeah. Aid main issue here just the interest rate concerns. It is we also have what are we just got word in this is a story that just broke. Ten minutes ago now. And again this is being reported by the New York Times as well as by CNBC now who was picked it up as well. That John Dowd has quit as president trumps lead lawyer in the special counsel's Russian probe. I I don't know if that's playing into here but we will see if this accelerates. The sell off obviously so was some news coming there and pretty much just just about everything is in the red right now I mean if that the Vicks is up 20% at the moment so this is a pure flight to safety trade that is going on right. Ten yet. So still you know still a good four and half hours must go of trading so see where things end up that you know 330s often times to receive a lot of these moves that right now doubt what you said down over 400 points Mike Dugan on the crypto currency bandwagon I still I did not get in on our own currency trading. No crypto currency trader with a good news that you and have to figure out how to pay tax on right because this caused people a lot of trouble and and I wanna talk about the story. That I saw recently actually. Where someone bought some bitcoin. Abouts I don't know probably the beginning last year they made a whole bunch of money. Now case they sold all because they got nervous and they said a candidate diversify I'm gonna go buy a whole bunch of other crypto currencies. They promptly went down you know 50% certain. In the issue is that the guy found himself in a situation where because he lost so much money there any triggered a capital gains short term capital gain last year yet you know doesn't have enough money. To pay the taxes videos. On his gains from vehicle like location. You laugh but it's it's awful just these people didn't realize that this. Awful. No. Awful if you go trade something that you don't understand that you deserve to be screwed on the taxes doesn't mean you can't feel bad for the guy like his life is like is a mess. His life is a mass I felt sorry I don't mean today you know be insensitive to guy who you know didn't understand tax implication between dollars after a human being but to be fair know the rules of the game that your play after the start plane buried. You know hand. This can be a problem for a lot of people last year you script goes you know they moved around some people made some money here and there. But last year the number of people who got in and probably sold some gains. It was huge debt addiction has plenty of people don't even realize they have to pay taxes on us no but if American. They gonna get an art of their door book is here's the other I think all the guys are trying to make examples few people these out these crypto currency exchanges don't send you 1099. So you might not know. That you'll taxes on this they do post transaction records were you you have to know. I need to go in and pull these records snorted go post this to my taxes they don't send you 1099 though. I haven't sort I've seen many CPAs putting that on their question here hey did you have any gains from crypto currency trading in 2017. Right haven't heard of that. I use a ton of other questions when it comes to this right like let's say you. Your account got act which happened to a lot of people you lost your password and you dirt tired liquid investment just went to nothing. Can take a loss. And or to know Dyer doesn't say anything about it. Maybe yeah that's a good question and I duties throughout his hard drive for. Now that I guess the guys press hard drive was trying to petition London though like let him dig through the trash is but yeah like a million dollar a crypto currency on the air yeah he had to give it a hundred bit coins or something like that right and he was petitioning like the UK government to let him go dumpster diving on the just to see if he could find his hard drive via. There's there's going to be a lot of people that have real problems with this it's it's similar to all the people who drive for Hoover that didn't realize they had to be you know save money to pay the taxes later on. Seems like same thing like they can know the rules of the game before you start playing otherwise it doesn't end well. Doesn't end well Starbucks trying to when Tucker backed by saying hey we want to take more mobile orders and make them more quickly I never left baby. I thought you were going companies these days. No I wish there was economies is no company's near rose like state star guys terms of mobile ordering metal or do Starbucks now how's the process these days as he gotten quicker is that I know that at one point you said it'd gotten so backed up on mobile that it slowed down. Bill that was to polish. Those two Pulitzer Poehler yes they would release people my were my orders as I've never had a problem Starbucks mobile no incorrect orders no long lines it's always been. Pretty seamless I've had the same experience Starbucks seems to be the company that is far and away. Head on the mobile ordering process. Eased the easy to use. Just a dude overall process. Which they need because they are facing some slowing growth. A big to the reality take a look at their growth over the last decade compared to what they're projecting for the next decade if they don't have success in China than the stock. You know I can't imagine keeps saying growth rate. You guys are bigger coffee drinkers that I am which isn't hard since I don't drink coffee corner. I've talked to a couple of my friends and they seemed almost be doing the same thing with coffee now that they do with beer where they're finding smaller roasters and kind of these other you know ways to go about getting it terror do you guys do that did you see. Happening here I'll out let me put it this way if there's a coffee shop near me there was you know locally sourced and are valid I'll probably go there is that right. Now why not my own. We have what I what I did and lived in the bird's days ago local coffee shop over the Starbucks the other options out there but I don't. Don't seem nice I don't find myself going and finding specific means to grind and post them home and I'm much more about convenience accords to roast room beans I'm never gonna. I'm sure he shouldn't yeah I heard an interview toasters no need to speak contraption for the last few inches and he's doing and Alvin I only so ouch. I don't know how were I I knew nothing about coffee and drink. Yeah I knew would not be worth the time people asked me to make a pot of coffee and I would look at them and I don't know how to do it might have. I am incapable of doing probably one of the simplest things on the planet I don't know how to make coffee aside from an accurate you know I don't try to see it from any of it that easy it's that you put the thing you knew what that. Trying to actually make a lot of coffee don't know people's Edwards French press I don't know what is it sounds like a bedroom sheet or something like I don't know that the that our. Ever if folks if you're near retirement age and yet to set up a trust to protect your assets do not change the station the next sixty seconds. Why do you need trust numerous reasons not the least of which is eliminating your state taxes and avoiding costs associated with probate. If you're over the age of sixty and years old and are preparing for retirement. Now's the time to call Todd let's Todd as a partner with the law firm of cushion in Dolan and an expert in elder law the walking through the process step by steps that you your trust. Is set up properly and efficiently. Now there's several times trust to consider but your vocal trusts are extremely popular and establish the kinds of protections. We're talking about it Todd has a new guide out this month to help you understand. All the particulars it's called operations guide to your vote will trusts it's yours for free by calling 866848. 5699. You can also download the guide instantly by visiting legal exchange showed dot com. Don't lead this very important process the chance called right now and get your guy 866. 8485699. Again that's 8668485699. Best. By the largest US electronics retailer is cutting ties with China's while wage technologies. Who always been the phone company trying to make inroads into the US for the last five years. And just can't seem to do you know chuck thank you very much for pronouncing that for wallet wallet. EIA is. To me I have you been seen anyone with one of these phones. I haven't. Nominee agent they you look at 90% of people in they've got an iPhone or galaxy. I mean to meet the biggest appeal to one of these phones would have been price I don't think they did that here doesn't seem to me. The theory of what's you know the Chinese what they tend to be pretty good at is we have been talking about copying technology. And bring it out in the market for a lot cheaper and I don't think they did that here. And in addition I think you have a whole lot of people with real privacy concerns about where their story a lot of personal data about putting such an Acer. I know the FBI and CIA have beat concerns. On that front so. We're gonna take a break here and when we come back we're going to be talking about how you on must could potentially make fifty billion. Dollars right here on the financial exchange radio network. Photo and Howard daily poll question had financial exchange showed dot com millionaire player of the media player and watch the show while you work. This is a financial exchange radio network. Hi this is talks on a recent studies indicate that in today's busy world more Americans are saving money for retirement through traditional IRAs in employer sponsored plans that's great news for those of you were closing in on retirement the money that you're saving is terrific what I'd like to do is make sure that you protect assigning a beneficiary to passer assets on two after you've passed is an important part of elderly planning and my firm the Armstrong advisory group hasn't new guide out this month they can help understand this process it may seem simple but there can be complications called out to get your free guide understanding the traditional hiring a beneficiary designations at 803934001. That's 803934001. And he can also download it right now from our website are strong advisory dot com. Hi this is very Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate of this standard tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne big executive director of EDA. This is a program risk. Fully approved by congress has been in existence about 45 years that 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 foremost 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 that we cut tax rates if. You're a 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 USD. IE DA dot org that's US. VI EDA dot pork. This is a special announcement for a landlords chasing down -- rent payments and making trips to the bank to deposit checks take a hassle out of rent today with zero leader banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he Rand dot net to learn more we see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free for all landlords visit WWW does he rent dot meant to learn more or call 7816 or 18691. Okay skiers and riders listed look at your long range forecast for Mount Snow Vermont. Monday's snow Tuesday no Wednesday snow again Thursday no series late Friday no Saturday more snow okay and is Vanessa Nguyen my script Carol c'mon that's not do without you know every day really. When you've got the northeast most powerful snowmaking system just hours from Hartford you know you can count on great schnell all season long. Mount Snow live to get around him now so get yourself and Mount Snow dot com slash states. If you're sixty years of age or older and have an existing trust or in the process of preparing one please give me your undermine a detention for the next sixty seconds. There are many types of trust the people use to protect their assets but irrevocable trusts are very common to enhance the specific protections that lesson Finley's one including the possibility of eliminating estate taxes. If you are unsure about whether your current trust does what it needs to do to protect the essence you've worked a lifetime for and make this one phone call Todd Lowenstein post of the legal exchange show and an expert an elder luck with the firm of Cushing and Dolan has been helping families just like yours with Thursday claiming needs for over thirty years and is new guide this month would give you the peace of mind you need if you're claiming isn't done yet the guy has called an operations guide to irrevocable trusts did it right now by calling 8668485699. You can also download the guide instantly by visiting our website at legal exchange showed dot com. Learn how to protect your assets toll 668485699. And get your free guide that's 8668485699. Security suffered two securities America each member of finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated it's hard to dial a phone or send an email with too dumb but it's easy to text we've got an excellent up and running when you can tell us what you think right now by texting us at 63566. He skewered Barry and join our exclusive club this is the financial exchange radio network. I. So do you Hamas is currently worth somewhere in the ballpark and over twenty billion dollars according to towards him and said Tate package yesterday that he gave him another fifty billion dollars coupons making moves. Yeah or so I mean frankly you know it will look this deal and said. There why I would we have repair CEO this this much I actually like this is an entirely performance based packaging gets nothing if he doesn't do well. He's got some pretty high benchmarks that he's in need to hit next decade if he's become even closer and that. First one you know obviously yes the double the market cap of Tesla just to reach the first benchmark set aside in the. That it looks like the additional. Tranches are for each fifty billion dollars in market cap that the company goes up some pretty much what happens here. Is if the company goes from about fifty billion dollars in market cap up to 650. Billion. They all and investing through the that pretty big assumption so it's like this the company has to go open value twelve times from its already expensive price in order for him to earn this 55 point eight billion dollars in stock awards show. My point oh go ahead you have signed this deal Tesla enemies that this would be this would be a great year for shareholders. I would I would do this deal all day you you quad. There's not a word for twelve times is there it's more on twelve time you can deputy quintupled its twice and we will pay is that probably and those dec appalled. That would be because we've Dudek gone is a twelve sided. The delta shaped in maverick talk yup. Electric cars they might be cheaper than gas guzzlers in seven years even factor in the higher cost. Yeah I mean that's pretty impressive. Everything about how far battery technology still would need to to. Two may even I think the big player here. Whether or not this happens is largely depend on China. They are all they are the ones that are going to be demanding these types of vehicles on the streets because of the air pollution situation I have. And there was any of the cost. The US and we're gonna make you know we're gonna make moves around the edges here. China once these India wants these and they want in cheapened the ones are going to be really really pushing it in. And the battery tech is gonna be what gets I think mainstream people considering this. You know it's it's it's the biggest thing that holds me back right now I drive an awful lot and I don't have the ability to charge quickly and often and I have range from range anxiety you do you know it's it's hey I simply don't. Trust the battery technology enough. I think the engines are near a phenomenal at this point because you know you've got that torque band that you know did it doesn't phase in its just available time buts. The batteries are the big thing and also to be completely honest. They're ugly. We've talked about the show we're taught you know which we've talked about it Toyota Nissan leafs a good looking. No it's not. The Nissan leaf to crappy looking car to be honest with me let me see there's there's no good looking electric car there the title is all Tesla is it doesn't outing count because it's not affordable. It's not a for anti about the everyday man's car. Nissan leaf kind of looks like if you took a minivan from the 1990s. And made it for our bodies yes just shrunk it to. You Schwartz great that is right bring that rate it's just this so god let's say. The battery. Is improved and there is attractive looking electric car are you gonna make the switch yes. I would too. I would now our beat and it's gonna have little to me it's an entirely you know it's just it's got to have a little and do it also I don't want a car that drives like the Prius on little you know skinny tires because New England that doesn't work in the well that's the thing it's gonna be acquired car and I know you're used to it. I don't WR us or what I'm fine with quiet I can't have something on these little narrow tires from that doesn't give me you know little bit of grip in the winter. I need a car that drives like a car and that's what Tesla does the Prius like again I I drove my dad's. Gains. It's you know I had this hill trying to get up to my house at the time but it wasn't you know the steepest grade but it was it was a little bit of a hill. It was a what's what is tail and all over the place a winter just because it didn't have the weight in it didn't have that the attraction to be able to get me up that he'll. Cyst to bring you this is an entirely economic decision. I'd. I'm not going to switch over to an electric vehicle just beaches you know I think it's a neat new technology it's all about Vietnam to me and personally. The only way I see this being economically feasible in the next five years I think even the next seven. Unless you're looking at you know an electric car personal luxury car brand is if gas is at four bucks a gallon I don't see that happen. I don't see a scenario in the next seven years for gas for boxing. Now me we would seem to be that word somewhat prohibitive now prohibited but. It would seem to be that that's a little beyond the realm of possibility at this point in us what did you get continued dollar weakness that is something that pushes up. Energy prices just as their priced in dollars of the dollars weaker it's gonna cost more anyway it's. So that something so that'll be interesting to watch. As we go there let's take another quick look at markets right now. Whole bunch or read out there and fortunately so while brace yourselves if fear I get ready here this. The first time today the Dow was off 426. Points thus far the S&P off 42 the NASDAQ. Really taken on channel 130 almost 2% down right now. Every major index significantly in the red. At the moment all major sectors are down right now. Let me take a look and see if we have any areas. Nominee even when you've got some utilities that are holding up decently just as rates are coming down so utility stocks are holding up all right today you're dividend payers are actually. Have a nice little neo piece of stability here in a market that hasn't given them much. Over the first part of the year ten year treasury lot of money flowing in that direction is down to two point 81 it was previously at two point 92 yesterday. So a big dip. I'm yields which means money is flowing into bonds right now in gold is also up seven dollars an ounce today. This is a pure flight to safety market. It is gifts I think you've got a number of things going on here you've got. Very serious concerns about trade wars to get ready get the announcements tomorrow and then maybe that John Dowd quit. Could be playing in yours well. We are done for the day will be back added some more checks not a Mike Armstrong and Tucker Silva will get you the same time tomorrow on the financial exchange radio network.