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Full Show 4-6-18

Apr 6, 2018|

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This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day you're simply your world stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. The first Friday April that means only one thing we get the unemployment report. For the month of march trucks autumn like Armstrong and Tucker still be here to walk you through. What we gathered as far as the jobs report for the the month of march 2018. And Mike the headline number not really coming in now agree only a 103000. Jobs created. For the month according to the survey here. Yeah correct a 103000. You know close to folks you know 8590000. Light of what most economists were expecting. And this does follow a blockbuster February month we got a big family and I'm very very big February number and and I do you know also wonder how much. Perhaps weather played a part in this payroll this jobs number is. But typically when we we take a look at. The the numbers you're the biggest thing that stands out just from a jobs created perspective in the month of February. 65000. Jobs created in the construction industry. The month of march 151000 jobs lost in that same business. Any talk about industries that tend to be significantly impacted by weather constructions one of the biggest you know if someone said. Hey we lost a whole bunch of nurses because of whether you sit there and say well that doesn't make any sense. Construction on the other hand you say OK you had these storms that. Weren't just coming straight up the East Coast at a whole bunch the kind of swooped in across the midwest and so forth then dipped and came up so they were impacting the entire country here. And it could be something that has an impact so that the headline number 103000. Again I tend to discount these month to month fluctuations on that yet just because they tend to vary significantly. That the number that we wanted to look into was wage growth and we get a good number there for hourly wage growth. Coming in at point 3% for the monster works out to a three point 9% annualized rate. But also over the last twelve months now we've averaged two point 7%. In hourly wage growth so that number starting to tick up a little bit. Very slowly still yet but we're getting close to OK now finally north of 3% wage growth you get a couple more months like this and all of a sudden you're right there. Yeah I mean the wager of number wasn't as surprised there's a good number but it was in line with expectations you see that was. As expected I would say you know say the only other if there's any shining light in this in manufacturing jobs continued to rise in the number of manufacturing up 22000 which is you know a solid number that we've continued to see your eyes three straight months of manufacturing job I was 203222000. The last three months that we've seen. So you know it does follow very strong February report those numbers read 326000. And this was a bit of surprise disappointment in I was actually taking a look at this and thinking to myself. If this numbers a little bit worried of this numbers really really good if we have another great number after camera I was kind of worried about market declines so far the markets opened up. Dow is down about a 132 points and the S and p.'s down thirteen points about half percent of both those indices. In not too significant they're down a lot more late last night in this morning over the trade concerns. Let's talk a little bit about those trade concerns because last night I think was about maybe. When was probably 730 on me take a look and see the exact time that this ended up breaking yesterday around seven to about 730 last night. President trump saying that he instructed the US trade representative. To search for ways to impose tariffs on an additional hundred billion dollars worth of goods. Imported from China. And so. Every time it seems like we're saying okay here's negotiating tactic and we're gonna implement this and to there's another one that comes on the back of it yet and do you get to a certain point where you say in India start to wonder if you're an investor. At some point do the people that you're negotiating with just kind of get fed up the and say enough is enough buying don't want the minute and via bull will deal with. I don't know you know you will see you when you talk about the potential for a trade war with China. Yeah you kind of look at two different factors radio look at the economic impact and the political impact and on the economic side the US action has been an advantage here you know is when on the short term. Not the short term if you think about it just from purely. On. The you know the cost of exports as a percentage of GDP rate if you're worried about the US exports going to China it's a very small percent of our GDP where is imports coming in from China accounts for a very big portion of their DP it's. You know 56 times more larger than it is here in the US. Let's look at this from the perspective of it if you continue to see these tariffs. Discussing let's say that some of these get implement turn you know let's let's go down the road to mid may because none of these are being implemented today and I think that's why the market. You know it's it it's selling off a little bit but it's when this is not a panic sale by any means and Dow off a hundred points. You know it is it's okay we call that due Tuesday morning. If you look at what this means if these go into affect. In the short term you can't replace that international production instantly you can't sit simply walked into a factory. In Iowa and say boom were were doing the exact same thing at the same cost right you can't go build a factory in Alabama overnight and say gee we've got everything up and running in three days and it takes time to get those things pulled up. And so the immediate impact to be a short term increasing cost. In the US so if you weren't importing nation. You're going to have inflation as a result of tariffs to. Likewise if you're China and 4% year GDP is caught is created through exports to the US and all of a sudden those exports are being bought in as greater quantity. You have deep glacial because not as much as being bought inside you were borders are not producing as much in so you have deflation in the short term. So for the US the question is look for and this where you get into the political cost all of a sudden you have cost good start going up when these terrorists get implemented. You know. How long are people willing to say gee I'm willing to pay an extra 25% for this won't pay an extra 30% for this there's you know some questions as far as you know how long this is feasible there. And beyond that. It it also raises questions. About OK now you're generating inflation do we have to raise rates in order to tamp down on that does that slow down the economy further. In cause you know kind of the situation where you end up with stagflation like you saw back in the late seventies early eighty. Right and that's I was getting at with the second piece and this is yet the economic peace in China depends a lot more on the exports BS the US then US. Relies on its exports to China however. When you are the Chinese Government you can be a lot more damaging to the political situation in the United States. Based on year basic care right if you say hey you know I really wanna impact the next coming election by a junior terrorist. What can you do you can specifically target states like they'll swing states of Florida you go after states like Michigan. And directly in order to send a very direct political message reach into such a bit they're their president is going to be in there for for life analysts you know true disaster comes as China. You just can't impact the political situation there like you can hear domestically you can vary much with the use of terrorists create a difficult political situation in this country for the drug administration. Yeah the the these terror discussions seem to be just one more thing that we have to learn to deal with I guess when it comes to. That the markets this dance so it's if it's not going away anytime soon and I expected this to gonna continue at least through the spring potentially. Into the early summer the Chinese represented coming out saying that they will fight back at any cost against US trade tariffs. I think that's enough tariff discussion for today I feel like we've been talking about today weeks straight and I'm. I'm so sick of the word terror to this point I guess it's just it will not be the last we discussed at the let's let's promised that permit for now and let's talk about something that's really important. Food at the masters. And now OK the masters is going on right now probably. I would make the argument it's the probably the greatest golf tournament in existence today the only when though consider close is the British Open just as the history there oh it's narrowing Clinton's close track of the masters abolished a real I probably rank masters British Open US open them and then the field to the PGA championship I think is a joke of a Manger don't forget about the Ryder Cup. With the Ryder Cups Phnom the Ryder Cup is phenomenal but we got the masters go announce in one of the great things about the masters is. That they have food there that it pretty much it never changes from year to year both in terms of what they made in the prices of them. And so our whole question of the day upon financial exchange showed dot com because we have to factor in price here its financial show up. What is the best menu item at the masters and talk what are the the options that don't have a male three or four up. Ams for you today all the same price at one dollar and fifty cents. And our first item here is egg salad sandwich. Choice number two is a memento cheese sandwich. A choice number three sausage biscuits or choice member for a little dessert here a Georgia peach ice cream sand is all at a dollar fifth. All of a dollar after it's great value OS phenomenal 12500 dollars basic it is an extra but then what does he get there it's it's a really cheap unless he can for the food. Yeah they go. I'm casting my vote towards demented cheese sandwich and a huge command to achieve our had a then ball buddy never had a missed low body of missing now so the sausage biscuit is that is literally a sausage. On a biscuit with like no way tiger something like that I would imagine. What you're casting her vote didn't seem pretty often don't know I don't care sausage and biscuit one phrase that's on a media or maybe they're just all merged its sausage baked into the biscuit who. Could it be probably not. I I'm the next Alec Imus off. So we ex pilots and this is I am on team meant to cheese sandwich I firmly expect to lose to most people don't know what it meant duties is what is it. On like us now for our audience I notice the cell from a hello OK okay. So committed he's so mad desert type pepper pretty much you mixing in with a little bit few different kinds cheese with a male little mustard generally. Some onion powder garlic powder little bits of other seasoning and yet this meant to cheese spread spread on its absolutely delicious ever spent any time in this out to pat meant to cheese. It's one of my favorite things I'd vote meant to chi San Diego and just real quick just a fun fact here domestic Beers four dollars in an important. Imported Beers five dollars. Whereas at Fenway Park you get a ten dollar Bud Light. Yeah this says better than yesterday and opening day two for the price of one. So vote right now on financial exchange showed dot com and we're gonna take a break when we get back we'll check in on the poll. And also talk about test was growing debt problem right here on the financial exchange radio network. Like us on FaceBook and follow us on Twitter that's TNT show. Breaking business news is always first right here on the financial exchange radio network. Stay Vanessa protection claiming can be overwhelming. Where you start and how do you know what type of trust is right for you the law firm of Cushing in Dolan has been creating a state plans for folks in New England for more than thirty years and they can help you do with all the different types of trusts available it's understandable that there can be confusion when it comes to estate planning. Do you need to rent a global trust do you need an irrevocable trust if you don't know the difference you need some expert advice and this month Cushing in Dolan has put together free guide to help you decide the best plan for you in your family you can receive this free guide the differences between rev a double and irrevocable trusts by calling 8668485699. Making him and show you how it's possible to eliminate your estate taxes well at the same time protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. That number again is 8668485699. Or download it right now from their website legally exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology tell them the cold as he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stopped chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi everybody it's Barry Armstrong and Jake two Lian we're talking about a program called Z rent. Now this is specifically. Designed for those of you who wore landlords and used to collector checks with paper checks are gosh maybe still do. Will Z rent allows you to collect checks electronically. Jail is hoping he could spend a little bit of time explaining how Z rat works and why it's a big advantage for landlords. Absolutely vary so we we develops he rained two out of me to Holdren gas because right now. You know with the landlord when you're getting rain checks. It's low it's unpredictable. You're missing envelope the right line posts like waiting he might not get all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation in your rinsing your notebooks now to what he does is it really digitize it they'll. It makes the rent electronic payments it allows for roomy cheering for multiple roommates and apartments that's great if you're renting out to college student salute. It's predictable it comes at the same time every month and it's all on me. So the landlords who have been using assisting huge time savings and ointment you are you still giving the first six months free for landlords the first six months or free and then in addition to that. If you bank at one of the participating banks he Renny is always free free. Those participating banks are meter being installed in messed me up at that any bank could sign up rate make if you at a bank in Vermont to Connecticut. They could sign up and become part is he rent yup you your if you have a community bank that wants to be a member happen Collison will have and sign up and the service will then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net you give my call if you wanted to 8776917900. If your bank doesn't offer it they can sign up for is he wrecked. Go to zero rent dot net or call them told free. 8776917900. Security suffered through securities America income members finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word. Married to 63566. To send your first and last Damon get involved today you're listening to the financial exchange radio network. This segment financial changes brought to impart my leader bank it's not too late to get a great rate on home mortgage leader bank has some of the most competitive rates around. Call 8776917900. Or visit leader bank dot com for more information. Leader banking and equal housing lender member FDIC NM LS number 449250. Our poll question of the day up right now on financial exchange showed dot com is what is the best menu item. At the masters Tucker what are the early results showing us early results so far and the dessert is in the lead the Georgia fuels. Ice cream sandwich rich I heard phenomenal things about by the supposed to be good is it yeah it's in the lead at 36%. And second place is my choice the egg salad sandwich. Where's which meant to cheat I would coming in it is tied in third with the sausage biscuit at 16% OK so that's right where I expected to be but I'm it is going to be a come from behind one today we're gonna have to do little work and we'll get there. Tesla has two point seven billion dollar problem. It's not the model three rather it's the fact that they have an awful lot of debt from the purchase they made of solar city you on most other company last year. A lot of that debt is coming due in the next two years month. Are you mean the one that was founded by two cousins they decide to pick up for the whole boatload of dead on the books that's the one about it. Yeah a bit CI a whole lot of the bond issues that we're or Damaso city are coming due solar city has been having real profitability issues mainly just. I mean like all the rest of tests this company's. On cost they did recently make some changes. They are not any longer doing house to house sales calls for. For their solar products but they've been giving up some market share as well. Yeah I guess if there's one positive thing it's non recourse debt meeting in hasn't Tesla doesn't guarantee payments of solar city defaults Tesla is not. On the hook for it but on the other hand you know this is coming at time where Tesla needs cash. And if they go oh we have public bond market and say we need to borrow some more this solar city dead is definitely going to drag on their bouncer. You know people often forget that solar city is part of tussle now and if so this is something that. I don't know under the radar is the right term to anyone who's familiar with the company you know it is looked through them understands it. But you just don't realize how much debt that company was hearing when it was bought. It's there it's a significant chunk of change. In what's happened is that. You know Tesla is the company that has to pay out the interest on this right. Tesla is paying almost a 150 million dollars and interest quarter so they can afford it you you talk about just their cash burn. The significant chunk of it is just interest expense on borrowing that already happened to him and so this is why when people contestant they say. Is this isn't looking great it's not like you can't just go when cup that you can't fire but people get rid of interest expect. They knew we remember talking about this or is it a year and a half ago about when they purchasers so was sitting somewhere on their way and they made this perch and you look at and say could cut the company's instant pretty rough waters. And dude you on must personally was a big investor and founder and that men and he's buying it from his two cousins it looks like a parent bail out and I would have not been happy at the time or Tesla. Owner and now you're seeing it start to come you know come to the page table. Sticking with the auto sector we've seen a tremendous growth in suvs demand over the last couple years and one of the things that auto makers are doing now is they're saying look. We got all these people buying suvs. Now we need to weaken some of the fuel economy standards that we can Salman make him less. And basically limit the fuel emission the that the emissions of the vehicles and therefore. Tighten fuel efficiency standards. But the carmakers are saying I suppose a legitimate point rate everyone wants to drive suvs these days no loss to drive sedans therefore we can't keep up with the fuel efficiency standards. The argue the counter argument that is well that's self on prophecy you guys drove up all of these demand for four these bigger suvs. Because there's more profit you business. So I find this whole line of thinking some what's. So it's it's a little defeatist in that you know again we're America. We're supposed to be good innovating and figuring out new ways to do things. And we can't figure out how to make our suvs more fuel efficient of course they did they're just be more expensive over. We say it would be more expensive you look at what we've put in a car today you look at the average horse power that's generated by a vehicle today compared to the 1970s who. Look I'm I'm I'm sure it was tough I'm sure there was a lot of man hours tons of man hours put into all of this development and so forth. But they figured it out and then they did but it's it's about the bottom line credited your GM and you have two options either I can innovate for the sake of innovating. And drive up costs higher to my units my bottom line or I can just lobby the government how to get rid of these fuel efficiency standards. And you know one of loans probably gonna work which forum in which direction you're gonna go yes but let's talk about what that lobbying is actually called what's called regulatory capture where you place people from the industry. In the very. Groups that are supposed to regulate your industry. And as such what you end up with is a.'s problem where you have you know the the walls watching Dick coop doesn't work out too well in the long run there so. I look at this nice say. In the long run okay. When we look at this from a national security perspective in terms of the amount of oil we want to import when we look at this from just a pure cost perspective for consumers. Vehicles that get better miles per gallon. Are better for consumers because they end up being cheaper in the long run. They are better for national security could you don't have to be is dependent on foreign supply chains for countries. That may or may not like you depending on which way the wind is blowing yet it's something that benefits all of us. In yet for some reason. We continue to push back on its yet. I know I mean I completely disagree with the fact that we should be you know getting rid of the fuel efficiencies and b.'s rate it is good for the country and what we're doing. By getting rid of it is just letting China take over. You know the I mean who has more demand for electric vehicles and fuel efficiency standards and China these goal to take over the you know all of the new technology. How do you guys decide what what Carter by anyways immediate you pay attention the ads. It'll two adds I'm. A little bit on the analyze. What what what kind of gets you going from an advertisement for car. Early gas mileage I looked out for the most I there was sure run that they answer gas mileage is one of those things that what I'm buying caller yeah. I look. I have to look nice to now we I don't want the Chevy volts right you know it you know I've talked about this the biggest problem with electric vehicles today is their ugly. The idea that ugly cars again don't wanna be seen driving me like why do you need to have the orange put in terms of like you know via the offering of the suvs element that's kind of like a pile occur Richard. Yeah like we wanted to work commute that is if you would just drive you call them vehicle over vying for features never use is it's it's like the person who works in Boston as an accountant. But buys a pick up differently. You never used it used to think three days a week or three days a year on czar like what are you doing like get something that's practical for your uses. Quick break you when we come back we got Wall Street watch and also talk about Delta's credit card data hack on the financial exchange radio network. 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 all landlords chasing down only rent payments and making trips to the bank to deposit checks take a hassle out of -- -- we're zero and leader banks all mine rent collection tool he ran automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more when Z 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 throw landlords visit WWW dug see rent dot -- to learn more or call 7816418691. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot. That's -- state and asset protection planning can be overwhelming and that's why you need to call Todd lets see he's a partner with the law firm of Cushing handle and hi this is very Armstrong Todd is an expert in elder law and taxation and he's been creating a state plans for folks like you for over thirty years there are numerous types of trucks that are available but the two most common are -- vocal bull and irrevocable trusts there are major differences between the two some before you put your pen to paper get some solid advice from someone who knows and can advise you on the best path for you and your family -- -- Dolan has a free -- out this month on the differences between revoke -- -- and irrevocable trust and you can get it by calling 8668485699. This -- even shows you how it's possible to eliminate your state taxes while protecting your assets from creditors and long term care expenses call right now to get this free night at 8668485699. That's 8668485699. Or download it right now from their website legal exchange showed. Com if you're doing yourself investor that are happy with the status of your portfolio don't worry you don't have to change your investment strategy. However you should be aware that the Armstrong advisory group offers very specific options to help you with your overall planning process having sound back up plan this sometimes overlooked when you're managing your own money this month the Armstrong advisory group has a new guide at the talk specifically about how to plan for the future of your DIY investor that comes with the do it yourself checklist designed to offer you additional guidance as your plane reaches its later years call right now to get this free guide an 803934001. That's 803934001803934001. Or you can download it right now from our website Armstrong advisory dot com that's Armstrong advisory dot com security's -- -- securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated. Whether you're celebrating a milestone -- diversifying your portfolio precious metals are Smart meaningful investment one -- and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and -- your gold locally it just makes sense of -- -- -- call -- learn -- call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value -- back a step ahead this is a special announcement for a landlords chasing -- only rent payments and making trips to the bank to deposit checks take a hassle -- -- -- day with -- and -- banks all -- rent collection -- he -- automatically -- tenant's -- and deposited into your account visit WWW -- he -- dot -- to learn more -- -- rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months -- free -- landlords visit WWW -- he -- -- meant to learn more or call 7816418691. Time now for Wall Street watch a look at the market's performance so far today I don't Marion jog right here on the financial exchange radio network. Time for Wall Street watcher Mike let's start with insight pharmaceuticals what are we seeing from them today. Instead had a drug that was being used to treat melanoma can DOS that it failed its phase 32 clinical trial and we know how stocks react when that happens the stock is down fifteen dollars a nearly 18% on the news this morning. I believe we did WD-40 reporting earnings this morning is that right we did not a bad quarter in terms of profits but as we have sometimes seen may have missed their revenue for the last quarter revenue expectations. WD-40 down five dollars fifty cents over 4% on the news so far this morning. Very good that is a Wall Street watched star about delta they had apparently a vendor of the years. That expose some credit card data for delta fliers to another day another company with another hack. So another and this August wasn't it in hack but when they're vendors. I guess similar to the FaceBook story. You know used a whole bunch of their information leaked it out and so they'll be let people know of their credit cards were. We're exposed and how they're going to be handling that day just him this kind of old news at this point every every day we shouldn't have another one of these yet dealt. Saying that they had identified hundreds of thousands of transactions that might have been compromised in the dates of those compromise transactions. Would be between September 26 of last year in October 12 to over about a two and a half week period and they are expecting. To give a little bit of additional information on this. As we continue to go FaceBook sent a doctor on a secret mission asked hospitals to share patient data that's the headline from CNBC. What actually happened. Not a great headline ultimately who hunt. And they had a they have that mean FaceBook in general Siemens grew in all these other tech companies have these guys top secret programs that their work on and the idea for this one was. Taking. Anonymous. Hospital data on patients Leo what are they suffering from what is the prognosis and what's the treatment. And kind of matching that up with. Data that FaceBook has on them about you know their connections to use your community and you know things that could be causing this the first thing I want to do with the cardiovascular diseases heart disease. And say OK well you know does this person clearly have a lot of stress in their life based on what we know about them on FaceBook or to the airport ties the community. And basically did the goal was to help hospitals. Treat this patient better obviously doesn't look great. For FaceBook right now on top of their other issues. Have we reached a point where. The creeping is factor of technology is just starting to get overwhelmed owners just me. I don't care about our honestly don't you don't you don't find this stuff creepy at all no remix by like he's here that's the goal art. Kind of targeted ads side. I can't. I I don't know I just may be on a little bit of a mini on this immunize I don't know but I just I feel like we've gotten to the point where. You know you see stuff like this or you get an advertisement when you know you're at a friend's house based on something you were talking about when they had no Lex in the route its just. Doesn't bother me. Makes my life easier. You don't shut the same shop and we're talking shop and you know or shopping for escrow for the Summers of the double quote signs in efforts are a a girl care what do I need to grill but what if you're talking Malick how much you hate Mike. And although what that was there a but here me out how do you know that somewhat isn't on the other side fences owe interest you the what are they gonna do with that information I don't know talker but that's the thing they bother me it doesn't odds are gonna email Mike real Acadia target that you suck on them like that's not gonna happen and I just. All on same talkers all these please get hacked so what do all of a sudden some some guy comes in hacks Amazon's database all of a sudden. Is Owen and you don't like Mike that you would only got to get so like ransom where you saying Seneca yes I mean I wouldn't be doing anything like that. A blank. You be saying you may chalked out. Like our I mean isn't that what you'd be set to Obama to I thought I just I I don't like the lack of privacy on these devices I know I'm. A little not it's not gonna die you're not at all I think on the not a guy for not caring I mean you'd take a look at the Cambridge analytic situation FaceBook and then you take a look at. You know what they're trying to do here is this saying oh we're gonna you know and on and it does yeah I don't like that Anonymizer Anonymizer at the medical data but I was true with you as well that and surgery. All that there's a dispenser which is close to a disease all they're gonna do is they're gonna take a medical data and they're gonna say well. Based on these five factors we know it's this person. And so they're going to be effectively taking medical data which they are big federal laws prohibiting. I really am not comfortable with medical data it's just I I. I manage the port where I'm creeped out by these but. Now you doron I guessed. Folks I've I know that we've spoken with many of view in the past who have chosen to manage your own portfolios and today want to talk to you to do it yourself investor. Because while your portfolios may be riding high there are other aspects to your plan. The financial budget to help you with portfolio management is just one piece of the larger pie in it Armstrong advisory group. We can help you with the state planning tax strategy succession planning. Is an important part of the overall process in this month Armstrong advisory group has a new guide out. That specifically talks about how to plan for the future. If you are managing your own portfolio it comes complete with a do it yourself checklist to offer you additional guidance. As you reach your later years call right now to get this free guide at 800. 393. 4001. That's 80393. 4001. Or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Continuing talk about health care CVS is making a medical device. And you know this is something that previously you know yet specially manufacturers that did this. But CBS trying to get more and more entrenched in the that health care sector here like yeah I mean that what I see from CVS has been taking a look at the health care segment and sang we need to be as diversified as possible wanna be able to offer doctors Rio on a deal to sell medications who wanted to be still in the area of retail and we wanna be making medical devices and you know I suppose that's one way to trying combats the other entrance into them that health care area whether it's Amazon JPMorgan Berkshire whether it's Wal-Mart. They this is their way of doing that. Whether or not pays off in a medical devices. It's not exactly cheap area to go spend your money. It it it's not what's interesting is that you have all these companies that previously. You know maybe we're on the periphery of health care maybe you didn't even have a ton of experience going directly into it. And you have all these non healthcare companies that are getting into it the reason why is because their own cost of medical coverage for their employees a lot of cases are there are going up in. And that's largely because the US it is a fee for service model the more that you perform as a doctor the more operations you do the more patients you see the more you collect as opposed to the quality care that you provide. And I. I wonder I wonder if we've reached a tipping point where you may see a shift in that model number one in beat. If company's coming in trying to control their own costs might be able to innovate a little bit as far as how to deliver care more officially how to deliver more cheaply. And I just I I wonder if we're maybe. On the eve of a little bit of the revolution when it comes to health care pricing and something that we may see a shift in over the next decade. I sure do hope so I mean I don't know about other people out there bud speaking from our own experiences here. And we sorrow health care Costco up I think close to 30% of the last twelve months. You know that that's not as our health insurance are constantly you know that that's. I mean that's directly hitting both the employer in the employee's pocket and yeah you start to wonder. How much longer this can go one reminds me of the college education. Inflation costs you know there there seems to have been hitting tipping point in that and that segment where you have some colleges going bankrupt you have. The sort of thing happening and presumably it's got to happen for health care at some point. Eat it feels like we're getting close to that tipping point here let's take a little bit of a break when we come back we're going to be talking about the workplace of the future. And what it looks like right here 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 any time. Start your text with keyword and join our exclusive club days as the financial exchange radio network. Hi this is very Armstrong and in my thirty plus years as a financial advisor I've spoken with many of you who have chosen to manager owned investment portfolios today I -- talk to you do it yourself first because while your portfolios may be riding high there are other aspects to your plan that we can help you portfolio management is just one piece of the larger pie at eighty AG we can help you with the state planning and tax strategy succession planning is an important part of the overall process this month they have a new guy doubt that talks specifically about how to plan for the future if you're managing your owned portfolio becomes the complete do yourself checklist argue additional guidance as you reach her later years call right now to get this free guide at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Juries are with the securities America incorporated member and as a PC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in 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 to Obama called as he ran team at 781 at 6418691. That's 7816418691. Or visit C Rand dot net stopped 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. I've folks it's very Armstrong and I'm joined today by estate planning attorney Todd lots ski with your legal exchange quick tip of the day. We're talking today about the differences between revoke Kabul and durable global trust. Todd what is the biggest difference between revolt global and irrevocable trusts probably the most commonly asked question never. Probably the death and first all I'm gonna tell you that there's many different kinds of irrevocable trust its not like just one kind and so that's what makes it hard to Germany. When the at least try to. Bring it back down to what I think are asking me generally. Irrevocable trust their talking about are these Medicaid income only trusts now the ones are we try to protect assets from the nursing home. So if I was to compared that kind of and your vocal trust with a revoke of trust and the really biggest differences. The irrevocable trust a protector acids from their arsenal the Reebok of trust never will so why would somebody user revolt global trusts. Over and durable trucks there are times where people have either enough long term care insurance or what they wealth or lots of wealth and and their self insured because they can pay their own way through the nursing home so how much money you have to have me if you like we define rich force I don't ask for 1000005 nines. What the estate tax laws as high as they've they exemptions have gone as high as they are I'd say you know 34 million dollars or less you'd probably still going to be considering an irrevocable trust if you're over 860. The estate planning expert at Cushing and Dolan have written a brand new guide that will answer the most common questions you have regarding revolt Kubel and irrevocable trusts. The phone number to receive the guide is 866. 8485699. Its toll free 866848. 5699. You can also download the guide at legal exchange showed dot com or call toll free 8668485699. The financial exchanges all over New England go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. This segment of the financial exchanges brought you in part by Dhabi those northern Italian steakhouse obvious has nine locations throughout the East Coast with. Five locations in the Boston area including Braintree the South Shore plaza. And is also opening its first West Coast location in Irvine California this summer. At W as you can enjoy seasonal cocktails handmade pastas perfectly cooked Brandt beef steaks. As well as fresh seafood and salads expertly prepared using the finest ingredients and Dhabi it was it's all about the guest. The back cover story economists the streak is AI spy the workplace of the future we're joined by Alexander sewage bass talked to us about that story and just how hard those artificial intelligence. Is in his begin to really change the workplaces we know it's as a thanks for coming non. I think about one thing ran here in the story is you know how productivity. In the US were forced really hasn't seen any big gains over. I think really the last decade to fifteen years. How might this artificial intelligence that we're starting to see implemented a lot of jobs begin to change. I think a lot of people think artificial intelligence that the far out comp apps can generally the train whenever it on the field with founder and 1950 text what to think about machines. Impeaching human level cognition in human level intelligence backs go along way away that you mentioned we're starting to being occupied to a lot. Very basic business functions and things that you could be done by all teams that humans but I. Financial planning or are responsive to our customers served at a question and screening recommended. Artificial intelligence is in using software and helping with back. The median net impact that it can be ahead. Is going to be a lot. At productivity gains and I huge amount. How are in Miki. Accurate prediction people used to be able to make sense about gangs say. For example when is the supplier of going to play out Turk who's not going to ask what's the likelihood a machine they're going to be. Able to do that I think one of the main impact people peel off of me I. Is that they operate in Iraq could play well teams of people out. It it. Companies are gonna keep their employment figures that came out I wrote them they're going to have to change the nature of work but look a lot of the lower love ball. Work that you believe replicate it. And involved powder and pattern recognition and predictions is going to be battered dot IA INT software and back human. If I were these two were for you know larger sized company and I that was big Gilbert paradise you know constant thinking like. Whom I wonder if this company's monitoring you know but web sites I visit the chats that I'm having with my coworkers emails that I send in how they're doing and how efficient and they're doing it. You know on us and I did drive my behavior you what are we going to be seeing for the average employee. I in regards to changes to their every day as a as a result of this artificial intelligence. There are the current covered Eric mentioned it AII. And it's playing with that. It would be idea you know pay. So are a lot has been track ball by employers. You mentioned and employers are able to see whether. And employees table is visiting the social media I don't company apple are Shoppach on Amazon what kind of link which they are you mean email but. Why is going to athlete and he's the scope and the potential of surveillance. For example we're seeing Kirk in the customer's service based if you start up experiment with quote unquote listening into phone calls Fidel. Be able to gauge. From the word protect customer and customer service agents are using its. Good that the repeated he would do which they're the game is there tunnel and how agitated and customer as to whether that call at six at all. He they're customer service representatives are. Graded on how ticked at all that. Call was according to be backtracked again and AI and he's too cool on and that's just one example of how AI could. You could. Increased. To feed arm and employees got the action and managers are telling. Egypt whether they're doing batter. But dot but what excited about it it's very easy to see how it employees are gonna feel. Walk should these technology. By their employer and one potential downside is that it couldn't be chill in the nation and it. Employees feel like they don't want it can give you rest our act out for fear a bad bad backlash about employer. Yeah you mentioned one piece of technology that I found fascinating indeed the Amazon patented wrist band can you tell us about what exactly that would do for workers there Wear house's. Yeah go to Amazon and played hundreds of thousands of people across across the world and a lot of them are in a warehouse. On it's still one of one of say area has not been automated. And you know gone to. The robot is that kind of pick and hack job where he lacks something off the shelf. And packet Amazon really wants to make employees that productive as possible they invade. Created this big and I have to speed packet that if an employee you peaches and they're wrong direction or the lack. The wrong item it will bottom kind of like what we're used Hewitt. And or wearable device or couple watched. On and so it can be able to track how employees. Are walking around the warehouses. Where they are. How quickly they're moving between different path how quickly they are packing box there's a lot of the authority Don it is scanning the pocket is that and I. Increase. Amazon's surveillance of employees typing get. One of eight to lead example because that something's got. And that's out to you without him but can also chat I've been very you read future. Employees. Well if they're not gonna beach it replaced by robot being treated like robot. Yeah well it's fascinating story encouragement take a look this title is at the cover story the economist. AI spy and as Al agent Alexander sewage bass joining us to discuss the ad discussed the story and where artificial intelligence might be moving next thank yeah thank you Alexander. Think. That that wrist band it's just a great creeping behind up until like I am I am creeped out by technology again and I kind of liked the idea that I'm thinking maybe it completely shocker in your seat. Says if you get off topic at a scale button here talkers turned my Mike off anyways I was like. It could acquire epic or aside thoughts are it is again. By the I mean imagine you're working and dams on read your winner and risk in the tracks your every movement if you grab the wrong thing it does suggest. Who lowered and more of that. I mean there's two sides sesame obviously whenever there's a new technological innovation as dehumanizing. It's definitely dehumanizing but you know I'm sure I mean yeah that's just about computing I'm sure people said the don't know this is one step away from a cattle prod. Gift and it's against them anyway in the cattle prod. Again I just. I think we're going over the cliff here like I just I feel like we've kind of gotten to this point we're we're not asking the right questions about technology. Again you know when was the last time we saw any productivity growth in the in the US economy I don't think it's because we're not zapping our people. Yeah and that's one example but I think there are other other addict you know at stations of artificial intelligence. Hey they're monitoring. A phone call to customer service calls. The monitoring of what people are doing on with their time want to work force is something that I think is going to be mortal or implemented but it's gonna it's gonna create this fracture between employees and play in the and that's the problem is at its. Core when you talk about what an economy is. It is based on trust that employees are gonna do right by their employers employers will do right by their employees in the company. We'll do right by its consumers. If you don't have trust between those three groups which. This technology shown that we don't. The whole thing falls apart is eventually employees get fed up and say nope not gonna do it employers say don't need employees and then there's no owned by the products and consumer say. I can't trust these companies I don't know the pedal and something that's no good for me which by the way is kinda what consumers are saying right now. That it's we we've given up on trusting people and when you do that the whole thing falls apart but it. Fine line to walk. I agree with you there it's very fine line to walk there areas of this that scare that building Jesus at a Meehan there are areas that I think are going. Like it or not are going to have very legitimate place in the workforce we get is opera now if if if if I'm out if we get is up with a its all time we have in this hour of the financial exchange for talker Silva Mike Armstrong checks out of will be back in just a little bit with more. It's not too late to get a great grade and home 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 a faster closing call lead 776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval. Leader bank a step ahead if you're doing yourself investor the arms during advisory group offers very specific options to help you with your overall claiming process succession planning sometimes overlooked when you're managing your money call now for our new guide at the talks specifically about how to plan for the future of your DIY investor the numbers 8039340019803934001. Or downloaded through our web site Armstrong advisory dot com securities are with the securities America incorporated member can Ressa PC advisory services suffered through securities America advisors incorporated Barry Armstrong represented a Armstrong advisory group the securities America companies are unaffiliated. -- states and asset protection planning can be overwhelming and that's why you need to call Todd lets see he's a partner with the law firm of Cushing handle hi this is very Armstrong -- is an expert in elder law and taxation and he's been creating a state plans for folks like you for over thirty years there are numerous types of trucks that are available but the two most common are revoked global and irrevocable trusts there are major differences between the two -- before you put your pen to paper get some solid advice from someone who knows and can advise you on the best path for you and your family Cushing -- Dolan has a free -- out this month on the differences between revoke Kabul and irrevocable trust and you can get it by calling 8668485699. This guide even shows you how it's possible to eliminate your state taxes while protecting your assets from creditors and long term care expenses call right now to get this -- guy at 8668485699. That's 8668485699. Or download it right now from their website legal exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does 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 78164186917816. Plan if you are a do it yourself investor and Michael start first with the case where maybe one spouse handles all the finances. And that's spouse gets sick in retirement and your spouse might not know what to do. Yeah I mean we see it very frequently you know one person it's usually the case in fact that one person is handling most of the finances. It's not always. The husband is always the wife. It varies a lot and the problem you have is that other person is usually not comfortable handling. This entire retirement plan they put together together. And it ended today need to have a back. In a lot of cases they may they might not have any idea about some of the terms that are being thrown at them they may not know some of the requirements from year to year. There can be all kinds of things that they don't necessarily understand. And it's all happening during an emotional time as well. Right now I don't mean to you know make it seem like super easy while you're still working but at that point you know the primary goal is saving once you're you know in retirement perhaps over the age of seventy you have a lot more things to worry about from a tax perspective required minimum distributions capital gains. All of these different factors that really come into how you invest as a retiree. Folks the good news or strong advisory group has put together a free guide to these very issues it's titled. The importance of having a backup plan for do it yourself investors in eking get it for free by calling 800. 393. 4001. You can also get it online for free. At Armstrong advisory group dot com. And once again that number to call is 803934001. For your free guide the importance of having a back up plan for do it yourself investors. Precious metals are Smart meaningful investment one ounce and 110 down silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead estate and asset protection claiming can be overwhelming. Where you start and how do you know what type of trust is right for you the law firm of Cushing in Dolan has been creating a state plans for folks in New England for more than thirty years and they can help you do with all the different types of trusts available it's understandable that there can be confusion when it comes to estate planning. Do you need to read a global trust do you need an irrevocable trust if you don't know the difference you need some expert advice and this month Cushing in Dolan has put together free guide to help you decide the best plan for you in your family you can receive this free guide the differences between rebel rebel and irrevocable trusts by calling 8668485699. Picking Lehman show you how it's possible to eliminate your state taxes well at the same time protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. That number again -- 8668485699. Or download it right now from their website legal exchange showed dot com. I'm from bank the pays you with liter maximum reward accounts can 1% cash back with a debit purchases and an extra 10% back when you use your card and featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and current annual percentage yield ten dollars mass residents only he's may reduce earnings rate subject to change without notice member FTSE leader bank. A step ahead hi this is very Armstrong and in my thirty plus years as a financial advisor I've spoken with many of you who have chosen to manager owned investment portfolios today I wanna talk to you do it yourself first because while your portfolios may be riding high there are other aspects to your plan that we can help you portfolio management is just one piece of the larger pie at eighty AG we can help you with the state planning and tax strategy succession planning is an important part of the overall process this month they have a new guy doubt that talks specifically about how to plan for the future if you're managing your owned portfolio becomes the complete do yourself checklist argue additional guidance as you reach her later years call right now to get this free -- at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Terry suffered two securities America incorporated members and SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. In new. This is the financial exchange with Barry Armstrong and jokes are and a you're exclusive look at business and financial news affecting your day you're sick leave your world and stay informed. And up today promoting economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck son. It's one of the best Fridays of the year masters Friday as the masters golf tournament revs into high gear and this market and fortunately he's doing everything in its power to make it as miserable as possible the Dow currently up three. 185 points S&P off 34 NASDAQ off 86. As the market reacts to it somewhat a couple somewhat lackluster numbers in the jobs report that we got today though I still think it's d.'s report overall. And also continued pressure from the truck administration. Trying to ratchet up pressure on China in the negotiations. On. Fair trade Mike let's dig in first two while we saw from the jobs report this morning. Headline number below expectations 103000 jobs verse about a 190 expected. We did see some decent wage growth there the U six number came down a little bit that under employment index so I'd look at this overall message yet. They have a number kinda crappy but overall it's not a bad report when you look under the oh yeah there's. I don't see any big red flag that factory growth was good age group was good. Headline number looked yeah yet a 103000 jobs instead of you know the 200000 expected. Happens for month to month so if you're going to so. So the fact there is month to month and there are fluctuations mean last month was a blockbuster. You know. Barn burner so way yadda fluctuations happen it's it's not a good reports. But there isn't anything in and it says run for the sales. Folks we do have a whole question up today based on the masters golf tournament masters weekend is it might be my favorite weekend of the year to be honest as it is there with you it's the official start of spree that unofficial start of spring but really I viewed as the official wanted to. It is when you start to get the barbecue out to say look it's time fired up birds chirping birds are chirping you got you know maybe some snow coming in this afternoon but that's okay birds are chirping birds at serpent. And the masters as one of the best menus. When it comes to. Thanks for your buck Tucker so our poll question they what's the best menu item at the masters what are the four options we put up there yet. Prices have not changed since the implementation of the masters and all four of these items in our poll question aren't. One dollar and fifty cents that's it it's and out our choices are egg salad meant to cheese sandwich. Sausage biscuits. And Georgia peach ice cream sandwich and that. My friends is currently the leader. Took a gutter press anti got to refresh we three way tie for first do we really between meant to cheese sandwich and sausage biscuit and dry heat or ice cream sandwich REIT for a three way tie for first to 28 and a half as salads and last what the -- perfect and excel Ellis. That's tremendous that's tremendous value Tucker like fifty eggs out on a hot Georgia today. Collision is also the only item you can literally get anywhere stroke. Yeah but they make it well by the way that sausage biscuit one of our listeners texted in. And from where is it here. Every area from 678. Spent 21 years in the south sausage biscuit is just that no tiger anything else to sausage on a biscuit will let weird. Like Michael loves it. I am I'm on team you can't do it season Tucker is on Georgia peach ice we know much not. Exile island about oh I'm like with my guns I talent I gave you chance to have been that this. This is a connection to you out last week's poll question brunch vs dinner. So BM go out there and a items and do what I see where you working on a word from today let's stick with food but let's stick with the food VAR four legged friends here. America you know that they're changing their habits when it comes to buying be approved for humans but. Pet food sales are just noting these days and so you see traditional food companies buying a pet food brands take advantage. Yet the pet food and pet snacks it's become the largest senator of the that store category for US food and beverage of its thirty billion dollars in annual retail sales in pet food. It's incredible. And it's it's it's pretty crazy. And people are spending a lot of money on organic pet food for their dogs. But there's been a whole lot of acquisitions going on in the last few months. Is the the growth in the pet food space simply. I don't know much about pet nutrition I don't even know which should be a thing on I don't feel a little weird saying or pet nutrition to begin with. Is it because we fit our pets such bad food for the last hundred years or is it just. A fat and it's a little bit of pool. It's a little bootable MEUs question you don't. Especially you know in a decade ago what was going into the dry food that we are governor dollars in in the wet food her pitches like he looked gross and net whatever and now you're seeing a shift to more organic products and for your dog. The big thing that everyone talks about these days in the pet space is the raw food diet where it's just you feed them like human food it's just like yeah like that all portal. Coaches raw edged well here's a big piece of meat new years' of oil potato and right up like that portals and chicken. No seasoning. It got. I I just. I find it amazing how much Americans spend on their pets Soria at its current and and they're not pets that provide any value other than being cuddle it it's one thing if they yeah I you know I was out on the frontier and I've got a dog it helps retrieve you know much ducks that I issue. It's you know it's. It's different win you've got a little six pound rat dog that you just don't understand. I don't and I just want you just donors I just I I just I it's I don't get. So we seem to big acquisitions in the past like month different mystery actually go to CJM Smucker. Just bought in dressed pet nutrition they already own. A big brand they'd JM Smucker already owns nature's recipes that is just expanding epic that one action makes a lot of sense. Last two months go February General Mills. Purchase buffalo now blue buffalo as a big dogs as a big eight billion dollars Omnia. And then what was the third one third just recently mineral technologies. As purchasing cinematic. Holdings which the European. And cat litter company. What is premium cat litter. What does that entail again and you just don't ask me what what you get in premium cat later that you don't get in the normal stuff I've no way to clumps better. I think there are. As a differentiator good clumping with General Mills I don't really love this acquisition I mean they're not doing any pet food today and they don't have any experience doing it I mean I guess I get they're trying to you know there serial businesses slowly dying you're trying to get into a new area but. I just don't see much synergies there putts or. They know that the right fat you know thing. A story from mr. Tucker gonna ask you about this one. Armored Gregor the biggest art and you have seen that big a star really in the what would you call contact sports of combat sports that would be it everybody knows his name now biggest star in combat sports in the world today. Turned himself into police heavily candidate being charged with three counts of assault and one count of misdemeanor or something or other. Yes a long story short there's a media events one of the use USC. A fight to believe it's tomorrow night. And McGregor just shows up with his entourage of about what are you guys. Hands pages went as Kirk on a group of people on the bus that were trying to leave. You know amongst them were USC fighters. And I don't know if you guys saw the video and odds on Tia is he sane yet he just go condom or Greer goes over picks up adult league in parts a through the bus window. Well in in UFC is not happy about this because you know some people said oh this is a stunt. The ons not the real basic cancel three fights for this weekend as fighters were injured on that deaths debt fighters are injured their cut by glass and you know if there was a stunt you don't think the police would be involved all right now you wouldn't actually your house arrest charged with this you can use arrested and charged and Dana White commence at look we're not helping him out of this because we have fighters who BO people paid good money to go see these fights this weekend. And you know people don't realize how big the business USC has turned into its huge it is the biggest combat sports. Enterprise in the world this and he's. In the face of it. So it's kind of discouraging to see this happening you seem fighting tomorrow no we just showed up for some reason I don't know who he was mad at but it doesn't deserve do you know pocket. All Heathrow plus window Kobe does shall appear to be careful who you're talking about their Tucker that we don't windows they're hoping is still here. We need reinforce that glass a little bit section as well as be ready. I. Sticking with some. Mishaps by sports figures. Drew Brees. Apparently about. I think was in the last year to. Bought us some diamonds. For about fifteen million dollars now not just knew he wasn't buying it for his wife that he and his wife bought these diamonds as an investment not like an engagement ring personnel that know these these were investment grade diamonds are not you know going on you know wondering but. Bought fifteen million dollars in diamonds saying look I wanna diversify. Turns out dimes or I were about six million dollars and the guy who sold them to them. Said he marked the diamonds up but charged the couple the price he believed the diamonds could be resold war. In ten to fifteen years if not how it works that's not how it works it hall. They don't feel like meego or yeah so I've got these great and I'm gonna sell you for ten dollars that's what can be worth a hundred years. It. Makes no sense. So that's exactly how it works shame on you Drew Brees Brees for believed in it and buying these fifteen million dollars worth of diamonds when he's stupid investment when you spend fifteen million dollars on something don't usually get a second opinion before you do I would think so. Could guy I mean that's like. Familiar professional sports athlete he was always like a 100%. Like that extra demand it is not great. It's not great sued Drew Brees is suing. His jeweler out of California who sold him these diamonds. What has probably a fraudulent transactions and he sounds painted diamonds to make them fancier it just completely misquoted there were so he diamonds. Is it to you this story is some of the stuff that athletes get into it's it's just ridiculous is like you and I would never have decision because we're not buying fifteen million dollars worth the diamonds given even if I make a transaction that's represented. Purse percentage of my income or assets and still technical. Doing a little bit of research for or against you may want to run. But I'm throwing down a 150 bucks on something I usually go and check it out and make sure I'm buying it from reputable or like well let's let's say both the all all three of us got married in the last 234 years whatever period it is now. When you went out and bought engagement ring. You asked for a certificate I hope that said here's what it actually has racked up you had somewhat independently verified that you are getting. What you actually thought you were not. Had he not do that with fifteen million dollars on us as your professional football. Rational athlete and you just don't care for him take a break here and when we come back we're going to be talking about the trade deficit and also. The investment chief who sees a recession coming. That's gonna happen find out next on the financial exchange radio network the financial exchanges line on FaceBook and YouTube watch Berrian jog do just the issues of the day NC which owns miles the most. Financial exchange radio network. The states and asset protection planning can be overwhelming and that's why you need to call Todd lets see he's a partner with the law firm of Cushing handle hi this is very Armstrong Todd is an expert in elder law and taxation and he's been creating a state plans for folks like you for over thirty years there are numerous types of trucks that are available but the two most common are revoked global and irrevocable trusts there are major differences between the two -- before you put your pen to paper get some solid advice from someone who knows and can advise you on the best path for you and your family -- in Dolan has a free guide out this month on the differences between revoke mobile and irrevocable trust and you can get it by calling 8668485699. This -- even shows you how it's possible to eliminate your state taxes while protecting your assets from creditors and long term care expenses call right now to get this -- guy at 8668485699. That's 8668485699. Or download it right now from their website legal exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Obama called this he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi this is very Armstrong and in my thirty plus years as a financial advisor I've spoken with many of you who have chosen to manage your own investment portfolios today I wanna talk to you do it yourself or because while your portfolios may be riding high there are other aspects to your plan that we can help you portfolio management is just one piece of the larger pie at eighty AG we can help you with the state planning and tax strategy succession planning is an important part of the overall process this -- -- -- -- that talks specifically about how to plan for the future if you're managing -- owned portfolio becomes the complete do yourself -- -- additional guidance as you reach her later years call right now to get this free -- at 803934001. That's 803934001. Where you can download it right now from our website Armstrong advisory dot com. Juries are with the securities America incorporated members in SA BC and advisory service is our with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated estate and asset protection claiming can be overwhelming. Where you start and how do you know what type of trust is right for you the law firm of Cushing in Dolan has been creating a state plans for folks in New England for more than thirty years and they can help you do with all the different types of trusts available it's understandable that there can be confusion when it comes to a state claiming. Do you need to rev a double trust do you need an irrevocable trust if you don't know the difference you need some expert advice in this month Cushing in Dolan has put together free guy that'll help you decide the best plan for you in your family you can receive this free guide the differences between reputable and irrevocable trusts by calling 8668485699. Picking Lehman show you how it's possible to eliminate your estate taxes well at the same time protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. That number again is 8668485699. Or download it right now from their website legal exchange showed dot com. We wanna hear through to protect Steward diaries 263566. And let us know what you think about the stories we discuss George due to the financial exchange radio network. Time for trivia here on the financial exchange we are doing trivia about the Ford brand because Henry Ford the founder Ford Motor Co. Died 71 years ago tomorrow. The question today is what was the price of the first Ford automobile and be the first listener. To text us at 63566. With the correct answer. And you win a fifty dollar gift card to Dhabi with five locations in the Boston area. Including the newest location in Braintree South Shore plaza de Beers is open daily for lunch and dinner and on Sundays for brunch. Dhabi is the perfect place to host your next special event so visit the obvious today in Boston. Foxboro Winfield Chestnut Hill or the newest location in Braintree. Visit W dot com for menu and racial special events or reservations once again. The question the trivia question what was the price of the first Ford automobile and text us at 63. 566. And if you're the first person get that fifty dollar gift card. Mike idiotic trade deficit hitting pretty much its its high for the decade. And starts to race and concerns they've got this trade deficit plus a budget deficit that's approaching all time highs. And we do that fiscally. Do you worry about me so that we let's talk about the numbers first were breached a deficit of 57 point six billion last summer that I was back in October but wait when the Belgium markets and economy were deep in recession at that point. When it was sixty point two billions we've climbed back up there. I don't see the real political will will to deal with this issue. So here's the problem with running significant deficits on both sides here is you have a budget deficit which means that the US needs to borrow money. And typically a lot of that budgeted an audit that borrowing. Over the last couple decades has come from overseas and so we've borrowed money from China from Europe from Japan from. We'll launch at about thirty to 40% or borrowing in any given year happens and comes from overseas sources. If you start getting into trade wars and all of a sudden you say gee. We don't want to buy you know we're gonna slap tariffs on goods in this net all the sudden other countries that there and they say. You know what we're neck and pundits are borrowing anymore and the problem and easy to you have to pay more and interest rates. Or you see weaker dollar which makes. The American BO a little bit less. The American consumer. Less powerful in terms of their purchasing power it does make US manufacturing stronger so weaker dollar could help there. But you potentially run ins some funding issues where all of a sudden you got start printing a whole bunch of money in you devalue the dollar significantly which has some view. Short term impacts that are great long term I think it's a good thing. But it's. You're starting a trying to get to the point where you got some questions about this that I think probably need to be answered in the next couple. CL I mean especially if we start raising interest rates age you really have some concerns there about the ability to get this deficit under control if suddenly. The cost to refinance that debt continues to go up. That that concerns me for the last thirty years even though the US has been adding additional debt. The fact that our rates have been trending down over that time period means that we have really had to pay more in real terms all of a sudden you get rates going up. They now you've got a chance where you can actually end up paying more. We even had to deal with that need us now. The headline from CNBC it reads Guggenheim investment chief sees recession and 40% plunge in stocks ahead. Headlines or that might like it did here's the fit like I feel like we get one of these just about every week that germs out. Let's talk about where we are in this business cycle though because we've seen we're now about nine years out from the depths of the recession. And historically business cycles they last seven to eleven years so it's not crazy to think that at some point the next couple. Hey this this kind that turns over a little bit the question I think is how bad things get once you get to that. Sure and I mean you know I you can come out and say you will always be right if you say in the future there will be recession. You are always a terror and always there's always that ends and there's a recession and Regan because we have these things. We had a back in 2011. You know and seven year in the Slater the economy continues to do well in the stock market continues to soar. I don't think he's necessarily wrong in the Guggenheim chief investment officer saying hey we think eating for a collision course for disaster and starting in only 2019 to 20/20. Boris he recession and pour stock market performance. Could be but I don't know where is get a crystal ball point. You know you work out at some of the things that are potentially a little bit of a concern you do have slowing auto sales in particular low when buyers. Are really buying anymore you you're seeing a major major issue with the low and byers trying to get financing right now. So auto sales are 11 concern if you have rising rates and all of a sudden the housing market starts to dry up a little that hasn't happened yet but you sit there and say look eventually something's gotta give here just because we know the people we have so much money to spend. If the housing market starts to struggle that could be a second piece that turns over so you kind of look at some of these things that are out there and you say. It's not a problem now but you know over a couple of years it certainly seems like there could be areas of the economy to become an issue so. I always take headlines like this with a grain of salt because. A again on a lot of time line like of courtly there's always another perception is that share birdie at let's take the other senator I mean what parts of the economy today and apart the stock market still look pretty attractive. Mean constructions good right now but that's impacted by rates manufacturing is definitely pretty strong in the last few months. And you know for presser every particular to the levels in the stock car right for p.s are actually pretty attractive the cheap right now the question becomes. Either rising rate environment one question that you do have is on the corporate side. You know you've got companies in certain areas that are tied to these rates in if you do see those rates creep up over certain levels. You know he could see some defaults there that potentially impact the markets are there's just talked about Sessler Tesla solar city Wright affair to refinance their dad and walked three per you know at 8% and -- reinvention really detriment of their business. Quick look at markets as we head towards the bottom of the hour the Dow was off 377. Points S&P is off 31 the NASDAQ off seven the six all markets down north of 1% so far. As we head towards 1130 crude oil sell off a little bit as well off 2%. Gold little bit of money flowing in that way. And if we take a quick look at the ten year treasury. Tenure treasury rate is down to seven eights or risk off trade coming back in today. Probably heading into the weekend as well with you know again two days where you don't necessarily. Want to be holding the bag over the weekend here. So obviously potentially right now still half the trading day to go but looking like a week and to the week. As we start to close at first week in April still hurling. We're gonna take a break here when we come back we'll be talking a little bit more about Amazon and also digging into each of them the reach. Hour and how they're getting hurt by Amazon. Right here on the financial exchange radio network. The financial exchange is alive on FaceBook so make sure like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Stayed an asset protection claiming can be overwhelming. Where you start and how do you know what type of trust is right for you the law firm of Cushing in Dolan has been creating a state plans for folks in New England for more than thirty years and they can help you do with all the different types of trusts available it's understandable that there can be confusion when it comes to estate planning. Do you need to read a global trust do you need an irrevocable trust if you don't know the difference you need some expert advice and this month Cushing in Dolan has put together a free guy that'll help you decide the best plan for you in your family you can receive this free guide the differences between rebel Kabul and irrevocable trusts. By calling 8668485699. Picking Lehman show you how it's possible to eliminate your estate taxes well at the same time protecting your assets from creditors and long term care expenses call right now to give this free guide an 8668485699. That number again is 8668485699. Or downloaded right now from their website legally exchange showed dot com. Whether you're celebrating a milestone or diversifying your portfolio. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and -- your gold locally it just makes sense of leader -- -- -- 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 time for bank the pays you with liter maximum reward accounts of 1% cash back with -- debit purchases and an extra 10% back when you user carted featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and -- annual percentage yield ten dollars mass residents only these may reduce earnings rate subject to change without notice member FTSE. Leader bank a step ahead hi this is very Armstrong and in my thirty plus years as a financial advisor I've spoken with many of you who have chosen to manager owned investment portfolios today I wanna talk to you do it yourself first because while your portfolios may be riding high there are other aspects to your plan that we can help you portfolio management is just one piece of the larger pie at eighty AG we can help you with the state planning and tax strategy succession planning is an important part of the overall process this -- they have a new guy doubt that talks specifically about how to plan for the future if you're managing your own portfolio becomes the complete do yourself checklist argue additional guidance as you reach her later years call right now to get this free guide at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are. Unaffiliated I folks it's very Armstrong and I'm joined today by estate planning attorney Todd lots ski with your legal exchange quick tip of the day. Were talking today about the differences between revolt Kubel and durable global trust. Todd what is the biggest difference between. Revolt global and irrevocable trusts probably the most commonly asked question. Probably that. And first all I'm gonna tell you that there's many different kinds of irrevocable trust its not like just one time call in so that's what makes it hard to Germany would be at least try to. Bring it back down to what I think are asking me generally. Irrevocable trust their talking about are these Medicaid income only trusts now the ones are we try to protect assets from the nursing home. So if I was to compared that kind of and your vocal trust with a revoke of trust and the really biggest differences. The irrevocable trusts were protector acids from the national. The Reebok of trust never will so why would somebody user revolt global trust. Over and durable tracks there are times where people have either enough long term care insurance or what did well or lots of wealth and end their self insured because they can pay their own way through the nursing home so how would they were uneasy you have to have need it immediately we define rich force I don't ask for 1000005 nines. What estate tax laws as high as they've the exemptions have gone as high as they are like say you know 34 million dollars or less you'd probably still going to be considering in your vocal trust if you're over age sixty. The state planning expert at Cushing and Dolan have written a brand new guide. That'll answer the most common questions you have regarding revolt Kubel and irrevocable trusts. The phone number to receive the guide is 8668485699. It's ovary. 8668485699. You can also download the guide. And legal exchange showed dot com or call toll free 8668485699. We have part of the financial exchange in an instant. By texting us and 63566. Started to extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Break here on the financial exchange radio network. Howard trivia question last segment. Was what was the price of the first sport automobile the answer was 850 dollars for Ford model a sold for 850 dollars and it was introduced in any two cylinder engine in it got up to a maximum speed of broom broom thirty miles an hour yeah about a town I Henry's bolt there buried in the yeah we did that's a little more and 850 dollars and we're. The first correct answer is Michael from Barrington Rhode Island. He's won a fifty dollar gift card to doubt his Davos has five locations in the Boston area including their newest location Braintree. Pushing a special event and obvious visit www. Obvious dot com for menu information and reservations. Former all postmaster general Patrick Donahoe. Told UBS analysts in a note on Thursday. That Amazon is actually profitable for the US post office in and you know you look at this and it really depends on how you're judging post office profitability ray and this is a government agency. There has a ton of fixed costs and they don't account for them the same ways that you know a publicly traded company. They apply a lot of their costs over to the subsidized just delivering mail sent the business and not a whole lot of it over to the packet delivery business riches. You know part of why UPS and FedEx have been so. Oh quite frankly annoyed with them yours let's talk about that what what is the griped that the the big shippers UPS and FedEx have with the post office when it comes to packaged to look. They gripe is that. The post office since 2007. 2006 and they are 2007. Has used a specific law that was passed about how much. Of their revenue they're generating from the private parcel delivery business needs to cover their fixed costs and I point 5% that number and they argue they say look. If you're truly operating an upright in a public marketplace against us. Many you wouldn't be able to just apply you know if there'd be more like twenty or 30% that should be applied to those fixed costs and they're just not using them. So pretty much we we don't quite know if the post office is making or losing money on Amazon specifically. Will we do know is that they're counting is different from any publicly traded company serenity it's it makes it difficult to find out. In beyond that. The bigger issues with the post office are related to Amazon rather than decline in first class mail went bust and either you sent a letter. You know I've Mike wedding invitations if they were at the 98. 1998 or Tina 19901990. Try to the last letter that I actually sent to someone was probably the 2002. Maybe of three they get a pen pal back then something like that to work with me you guys didn't do with the Dallas forced to. That was cool. Correspondent but I mean you know it is effectively have two arguments this if this you know Amazon sand there hey you know this is great. Did their accounting from their costs and we love the fact that you nicest most service is going to deliver packages for this costs and eaten him UPS and FedEx or send their well and we can't compete with this and and UPS does not have the same cost that you nights in a USPS workers have big robust pensions a lot of stuff that is offered to those workers that is not offered to UPS and up. FedEx and you know us today they probably have a point here that hey if we can't make a profit at this level there's no way that the Postal Service is making a profit these rules. Yeah it's in an and I think the the big thing is. Amazon's can use whoever they can find to deliver the package the most cheaply the other whether it's. They're not using the post office because they want the post office used to lose money using because they say here's what we're gonna deliver the packages too because the rate we're gonna charge for delivering packages that Amazon didn't come in and say you need to lose money in order for us deliver now this is how the post office was set up. Both for Amazon even started doing business with. Yeah for which you cannot blame him as a ray knows you're gonna pick a fight pick a fight with the post office and say you need to change the laws around how to post office charges for their services. That's fine but Amazon's just taking you know taking advantage of what's available to them just as any other business. And I am. Anyway yeah I don't prior be a continued fight I'd UPS does have a point and they should continue to try and lobby to change those factors but. Nonetheless it's it's definitely an issue it's been impacted all of these companies struggle a bit. About accidents are Mike you have some guys yeah if you're land are looking to find easier way to collect rent payments and you need to hear about leader bank's online rent collection product called zero. It's a great service for landlords allowing them to collect tenets. Pain. Electronically at Z a red dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank in stone and bank members FDIC. If your landlord in our interest and having your bank require this he read technology tell them that called as he ran team at 7816418691. Again at 7816418691. Her visit as he rents dot com. Stop chasing down late payments and running to the bank to make your deposits get your bank to add zero into its list of offerings is zero dot net or call 7816418691. For more information again that's 781641869. Wonders he rents dot net. Wanna do a quick check on our poll question of the day up right now on financial exchange show dot com make sure you head over there to vote it because Tucker if I'm looking at this right. We're coming down to the wire on this puppy. Looks like we have blowing a four choices and we have to to wage ties. It's pretty rare to two way tie correct so what are we got the leaders are Emmental cheese sandwich and Georgia peach ice cream sandwich l.'s only six point nine. Percent and then it. The next tie is egg salad in sausage biscuit. Tied at 23%. So again this is the poll question is what is the best menu item at the masters since we have the greatest tournament in gulf going on as we speak right now. And again committed cheese sandwich in Georgia peach ice cream sandwich currently tied for first. An egg salad sandwich and sausage biscuit are bringing up the rear but. This this has been a close race pretty much all day we've had three way ties now we've got a couple two way ties up make sure you get over there and vote. Tucker you are team egg salad team excel and all the way Mike is teams sausage biscuit I lose to team egg salad outside of one and yours truly. Just call me mister meant to tea sandwich. 18 am is getting hit with the Amazon effect too they're seeing a little bit of they're trying to accelerate their digital expansion in order to deal with the rise in e-commerce. Yeah I mean they're dealing with a lot of unsold inventory like every other retailers they're sitting on more than four billion dollars of unsold goods at this point and yeah I just don't I don't see how a company like teaching them accompanied me that is specialized the mall merchant is going just. Succeed by policing there items. Only on their own website if you if you're going to expand you're gonna need team you know hook up when another online retailer like Amazon like jet like Wal-Mart whatever it might be. Pusher product out there I don't see how these other companies because they're so far behind at this point. Had the ability to catch one. One thing NIC mentioned in a lot of retailers. Earnings reports and it's also mentioned in this article here. Is that one of the things that's hurting retail is the consumers and their shifting preference for experience is over buying stuff. That's somewhat of a cop out to say yeah we we we don't know what people want today and it's you know your jobs know people I understand that there's a shift in yet and I'd knock millennia most is they always take pictures of much of Picchu and it's always the same picture it's on FaceBook makes you feel horrible about your own life and wanna do that. But lake if people still bike hopes people still need to buy clothes and if they're not buying yours in their buying someone else's instead. That's a huge problem it's not a consumer problem. That's a company problem if they're choosing to shop somewhere else instead because people still have to buy shirts they stopped by Sox they still but underwear. And if they're not buying yours in their buying someone else's tactics they went to mock you -- you. They went to another store. I I think and you're writing about you just by mentioning that your just pointing out a flaw in your business may have mentioned this point they're changing consumer tastes in your behind them. Well written your business avenues for your business. But like it's it's it's one thing to say oh like we we weren't on top of this road that's how businesses be able eventually go extinct that's what you see happening to companies like Sears at this point. They didn't adapt quickly enough. And look at it it starts small but eventually that snow balls in a few in the behind the eight ball you know a year and a whole heap of trouble that let's take a break right now when we come back to be joined by Paul Monica from CNN money. You talk about Spotify fresh off their directory listing right here on the financial exchange radio network. To vote on our daily poll question as financial extreme showed dot com while you're there buyer of the media player and watch the show while you work. This is the financial exchange radio network. Hi this is very Armstrong and in my thirty plus years as a financial advisor I've spoken with many of you who have chosen to -- your -- investment portfolios today I wanna talk to you do it yourself first because while your portfolios may be riding high there are other aspects to your plan that we can help you portfolio management is just one piece of the larger pie at eighty AG we can help you with the state planning and tax strategy succession planning is an important part of the overall process this but they have a new guy doubt that talks specifically about how to plan for the future if you're managing your owned portfolio becomes the complete do yourself checklist argue additional guidance as you reach her later years call right now to get this free guide at 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Juries are with the securities America incorporated member and as a PC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and are two companies are unaffiliated. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 7816418691. That 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. -- states and asset protection planning can be overwhelming and that's why you need to call Todd lets see he's a partner with the law firm of Cushing handle hi this is very Armstrong Todd is an expert in elder law and taxation and he's been creating a state plans for folks like you for over thirty years there are numerous types of trucks that are available but the two most common are revoked global and irrevocable trusts there are major differences between the two -- before you put your pen to paper get some solid advice from someone who knows and can advise you on the best path for you and your family -- in Dolan has a free -- out this month on the differences between regal Kubel and irrevocable trust and you can get it by calling 8668485699. This -- even shows you how it's possible to eliminate your state taxes while protecting your assets from creditors and long term care expenses call right now to get this -- guy at 8668485699. That's 8668485699. Or download it right now from their website legal exchange showed dot com. Time for bank the pays you with liter maximum reward accounts can 1% cash back with -- debit purchases and an extra 10% back when you user carted featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and -- annual percentage yield ten dollars mass residents only these may reduce earnings -- subject to change without notice member FTSE leader bank a step ahead whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and -- your gold locally it just makes sense of leader banker called and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on guaranteed by the bank and may go down in value leader back a step ahead. Security suffered through securities America each member finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated it's hard to dial a phone or send an email list to 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 but texting us and 63566. You skewered Barry and join our exclusive club this is a financial exchange radio network. Joining us on the line now rising there's every Friday is. Paul and Monica from CNN money and Paul thank you for joining us. Paul we're talking about Spotify today and you know that their company that went through a directory listing earlier this week on Tuesday. And you know initially be a significant premium over the IPO price or over the listing price. But the stock is there kind of giving up some of that ground as investors continue. To look at it cares where you think this company goes from a valuation standpoint here. Yeah it's it's gonna be a little tough for awhile and the respect that being because Spotify is obviously. A company that is not. Profitable yet you're still. Valuing wore on things like revenue growth and subscriber growth which is yet. I think makes old school our investors probably a little bit uncomfortable expect. The memories about a 2000 for example by yup Spotify is clearly the leader. In in the business right now that are you know more subscribers than not. And now apple does her apple music in that think that even though apple Amazon and Google are all. In the music business they're not sure played music company I think that's like. Paul one of the questions that I always ask when we're talking about technology companies is what they do that note that no other company can duplicate because simply to have users isn't enough because we've seen good companies a receipt companies with good user numbers. Struggle once they reach public markets for. That the very question what separates them from being you know an act Friendster MySpace is yeah. Question dear yeah with the battery and you know we music can be in the content or aunt or at the stock that is terribly but that. Few years you know we added that tightly out. Out rhythms that allegedly. Help you know listeners get better. So elections based on what their preferences or you know that a former parent or user to like Jack and came up. I us. And that. You know you know apple cart chapter K music for I am a toddler result actor that there. Spotify in the event that it is very good job really pitching now a B is that we will work more closely with the record labels. Patient. You know Taylor Swift now. Or if it yeah. On Spotify and that she has been one that you take the top spot fact here's a pack. You know so I think something that that I can read into that they're going to. The pre B. Or not jet but there's a position as well result in you know generate more. Robbers. Oh. Let's talk a little bit about that side of things with musicians one of the criticisms of streaming services including Spotify is that they don't pay the artists enough. For the streams that they receive is that a fair criticism and is a potentially issue for them down the road. I think it's going to continue to be an issue in the you know I obviously it was not our problem for a parent or as wily old white things now. That they had to pay Cuba musicians to resolve so I think that's a big picture after it around because it will. Potentially. Make it more difficult the course Spotify to potentially. Become profitable but you know right now I think Everett just to be hammered with. The subscriber growth rep rep that that they Apple's lead over you know rest being treated knows that this is street yet. You know that players that are subsidiaries of that week actor. Do you spot financed on one level is being compare Wimbledon Netflix and that it's a streaming service for something that previously you had to go out and buy. Netflix over the last decade is made a big shift into producing original content is there a chance Spotify tries to something some more on the music side. Yeah that's I think is going to be something date it will be interest thing I'm not so sure of yet used the worst spot about a replicate. And Netflix model where Netflix decide you know Hayward not just going to use. Show you know old movies. And he each and make our own what spot I really QB. Could be start a record label in the track musicians perhaps. Not are some people think I'm more likely news that they need B to keep war. On the ticket being concert promotion I think it generates revenue for the music is it that way but I'm not so sure that Spotify. Apples to apples comparison apt but with regard to them being able to create their own contact. Teacher record label per. Obviously the company just. Made its interest the public markets this week. But is this a company that could potentially be an acquisition target for anyone down the road looking to bolster this side of their business. It is not at this valuation to get big guy you know that that right Alec looks like Spotify. You know I think clearly want to go it alone is it possible that you one day. Apple Amazon in you know move off the bat could they played form you know there are obviously much. Bigger companies have a higher market I should a lot of ash but and ensure that at the game I thought you know people bought back about Netflix and the larger than just about every single watt nature beauty company. Very good Paul thank you for the time and have a great weekend brought it here. Paula Monica from CNN money talking about Spotify ticker on Spotify if you do want to look them up on your own is spot as PO to. That's easy enough. I had simple. You Broderick got a good point and you know Paul talked about here if they're not at. Able to replicate something like Netflix model I don't see it succeed. Policy. You know what's what's interesting about the music business is it's more fragmented then what you get for. Video production for for TV infinite for movies and the reason why is anyone can go out and using just a compete using just a laptop right now. You can make yourself CD yet even if if you BO have a laptop and a microphone you can record now. If you have you know just a camera and and computers still tough Reid put together a production quality TV seers and so forth so I think. The the tough thing you've got like 250000. Albums a year that come out now the the amount available music is. Quite frankly more than anyone can watch and it will listen to on Sar. So I don't know the answer is necessarily more music or even different ways to near to digested but I wonder if it's. You know more focused on interaction with artists that keeps people there and that kinda content that keeps people you know around us because. You have to have something proprietary attracts new cast do you just have Spotify no I don't even know your market. I wonder if they'd dabble a little bit until like premium podcasts that's kind of what I like something like that so I don't like a serial let like really caught on. And I wonder if they can go that direction do they do anything on podcaster I don't know if podcast through them I don't think so I might be wrong on the DSL and you can get like comedy segments. Any you can listen to comedians on there. Yeah I. Again if proprietary content is what has made similar via the Amazon and Netflix. Really succeed in that other side media space and without it I don't know house otherwise he's used to delivery option if any in your guest the same competitors pandora apple music Amazon music you know on differentiating yourself and. Quick look at our poll question as we wrap up this hour right now. Egg salad and sausage biscuits still tied in last place ranked team persona and refresh or go commit to cheese sandwich in Georgia peach ice cream sandwich tied for first place in thirty and a half percent so it's like meant to cheese in Georgia peach. Coming out on top. Markets right now still in negative territory Dow off 347 points as we head into the afternoon. Told time we after the weekend will be back on Monday with more on the financial exchange radio network.