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Full Show 5-31-18

May 31, 2018|

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This is the financial exchange with Barry Armstrong in chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. We have three big stories to begin today show number one. The trump administration is in fact going to put steel and aluminum tariffs on Canada. Mexico and the European Union number two. General Motors shares are rising we'll tell you why and third. Cooper looks like they're going public when will you know just couple minutes hi everybody it's Berry and John Mooney with you here. It is a Thursday morning with action. I mean if it the day headline just keep on coming. You got a very very got a new lead story fifteen minutes it today is unbelievably breaking news here the trump administration is going to be putting. Steel and aluminum tariffs on Canada. Mexico and the European Union is buried just mentioned. Other terrorist will be 25%. On steel imports 10% on aluminum reports. It would take effect at midnight tonight so the threat. Has now become reality now. You how with the market reaction market did like you were down a 183 points before this broke the Dow was scheduled to open up about twenty. So it's about a 200 point decline in Russia water 88 accuse the realities is not a big deal and it's really targeted towards China hasn't. It perhaps ultimately that's the end game but the European Union is expected to take action which will adversely impact products that we eat. Export over we have an agricultural products or DB. Technology. War who doubts I mean right now the problem is we're now in the game where we don't know we're goats. All we know is we've now set a barrier for products yeah. And we know that our other countries particularly the European Union will respond are expected to respond those candidate candidate will buy more. Yeah so again that's gonna raise the cost of goods around the world particularly in Canada Mexico the EU in the United States. And what things I noticed berries is the more it seems to be looking like a trump market now because if you're in the business of exporting. Your businesses get and slams. And if you're not the business of exporting if you're good ol' fashioned domestic small cap company. Times has never been better at the Russell 2000. This morning hit another all time home life. What that is is domestic companies that art's own stuff to the Canadian of the Mexicans Europeans do business in the USA they're USA company's itself on the USA and a war what was being put up to protect. Their business on top of that. They tend to be the highest taxpayers are people paying 35%. They're now paying 21%. So. Yeah some good news or smaller cap companies here you know main street America. You know General Motors. A announcing this morning that they have received aid and investment from Softbank. In the amount of 2.2 five billion dollars. In near self driving car division they also or coupling that 2.2 billion dollar investment with a another one point one billion of their own money. Trying to build out their self driving car division. I've got to believe that if soft banks making an investment they must think highly of General Motors technology. I think that's with the stock market is interpreting this because you and I talked about this earlier. On its face you would say 2.2 five billion invested the subsidiary General Motors that's fine that's nice. But there's a lot more to this story than meets the because this is up four bucks a share on a large cap company like General Motors that is a huge increase. In market cap and I think there's several issues here one is as you said you're looking at the saying okay someone in the outside things to GM is. Really you're ahead of the curve on what is the future so that's a huge endorsement from literally a foreign company from. I'm on top of that I think there's the feeling that General Motors that might at some point be able to monetize this to the point work. This subsidiary could be more important than the auto company listed unit and our world more valuable well absolutely and that's the they did the big issues like who's got the best technology mean Tesla technology. Seems to be rife with problems I mean their shares are down. They're down about five dollars but he keep crashing cars and Google I Indy get perspective who will no question neat neat they're making strong inroads in this area. You don't hear much about ward you don't hear much about the other auto makers having really good technology terms of self driving cars. And that's the point is is General Motors you know has the infrastructure in place. Obviously it's very negative news for companies like Tesla. Which is trying to compete with General Motors in just simply doesn't have the resources or the scale but the General Motors has. GM says it expects to have the capital necessary to reach commercialization. At scale then beginning next year I know. I mean I'm not sure I'd buy that or will be a it might be staged to where they fish for levels of self driving cars right am. You know one is kind of like your cruise control. Two would be on the highway three would be. Almost all the way door to door and forays. You you were to the card shows up in picture up I think there's several years away but global war no question about that but even level to. Would be a substantial improvement and if mine next vehicle. Is one that I drive to the on ramp for route three. Allow the car to drive the next 35 miles you know and then I pick it up the last two miles before get to this office. That's a pretty good deal yes I mean that's literally. Fully automating. 90% of my ride that's level to now that's a pretty big deal and if they are the leader at that people buy the car that could drive my next car purchase it that he could. Our question today are poll question is do you own a General Motors vehicle parity voted in yes I do ownership evil and who loved and but do you. Our poll can be answered by going to financial exchange showed dot com some of you like to textiles are tech's number is 63566. Don't forget to insert my first name. At the beginning of your text Barry BA RRY. Bloomberg's. CEO Dara cause rush Ali. On and get that name right someday it's a tough but he got it right and now and I'd ties are sorry chuck wood admonishment I didn't do it right but anyway Dara. And just are called are. Dallara intimating. That they're probably gonna go public next year we were waiting for this and for a long time. And of course there are unicorn Vega in some ways went public many years ago if you call public selling to places like fidelity and hedge funds. Who were way ahead of that two years ago now Hooper has since ran into some issues. In terms of you know that the let's face it with the sexual harassment matters. Some of the other matters it's a behavioral issues they had some ethical issues but. The they brought in this guy Darrow from Expedia I believe his story came from. Ease him well regarded CEO. And he seems to be calming things down and you know they've. Their attitude has changed you've seen the ads on television you know Hoover you know we made a lot of mistakes but we're fixing those states were getting it right. Those furloughs harvest of their staff at. Aside from FaceBook to yesterday about the data and we. The apology commercials. Yet they still get their raw I mean you still a lot of junk on FaceBook race. That's what they were saying in the commercial blitz and decide this. Know what we've seen those that you know those companies have issues. But they're dressing them and they're putting the best face forward in these companies were they big they're claiming to be worth sixty billion dollars I don't know. If it is that's about twenty to thirty billion less than it was two years ago. Because then the numbers from the stratosphere where they had people saying their price from the 9089. Million dollar area. It's leveled out it's put into it it may be it's a good investment at sixty because I think. That's gonna trance transition into our next story. Which is affected Warren Buffett was kicking the tires. Well you know he wanted to he said hey I want a device they just couldn't come to terms yet you know war he's gonna want you know. If they valuation is sixty billion he's gonna wanna be able to buy an thirty. But history. M and I I think there's no way he ends up getting in on this deal. Because as you like to say he liked all of the money. He could be could be their bank no question are you know I wouldn't be surprised to see do preferred there you. Right there heads I win tails you lose. You know pay me 10% a year to put my good name honey bee capitol. They they're so well they're bleed cash like crazy I didn't think that but that would be you know another possible home run for Warren Buffett you know with options to buy the stock just in case this whole thing works out. Get paid eight to 10% while you wait in your line has the stockholders and he likes deals like the problem is the you know Dara is looking at that insane while. Fidelity's not going to be happy who Softbank stuff and be happy that they're the ones that are really making those decisions Derrick can go to France and wanna do this deal. They're the ones is that what's to stop the delegates from the same will pony but. No question about that America I thought that you can but it's not gonna get in I don't think on this deal but the fact that he's even picked him tires at all tells me that. The valuation is probably come in quite a bit at what it was a year to a goats maybe little more reasonable. And look don't want an argument that of an amazing business they just haven't found a way to make money on the other and all that sounds like a facetious comment. But once they finally do get scale and wants to become profitable the thing that someone like Warren Buffett loves about it properly who were lifted his. There's like no capital expense. Once you get that app into the hands of you know X millions of people and Europe breakeven point and everything after that's total gravy gravy total great. Hey coming up we're going to be talking about hale house. LS is a terrible disease and a lot of Americans are having difficulty getting the medications they need to combat that disease. We'll be joined by professor Glen culled from Harvard. Talking about why Americans are having difficulty getting what could be a miracle cure or at least. Eat to those who suffer with jail last that is next on the financial exchange. Have a question for Berrian junk. Now you can text us at 63566. And take part in the show at any time you start your text through keyword Barry and join our exclusive club. This is the financial exchange radio network. Hi this is very or stroke like many if you. I was very interested to watch the markets after president Trump's tax reform bill passed last December if you have an irate Horry wrought by area count one little nugget that didn't get much media attention after the bill was signed was the idea of Roth conversions or re characterizations. Under the prior rules if you attempted to convert a traditional diary tour -- you could undo that request and not get a tax it as long as you made the request before October 15 of the tax year in question after January 1 of Tony eighteen that provision no longer exists if you're concerned or have questions about how this change will affect you call me right now to get my free guide about Roth conversions the number is 803934001. That's 803934. Zeros or one or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. As we age the state claiming an asset protection become a Paramount importance to maintaining a happy and successful lifestyle many families to go through this process think about transferring their home to their children to protect it from the nursing home if you're not careful and nursing home state can judge your financial wellbeing and transferring your property isn't always the best solution because you're looking at huge capital gains taxes -- home is sold if you find yourself in a similar position you need time let's d.s brand new guide the risks and rewards of real estate ownership a senior partner with Cushing and Dolan and host of the legal exchange radio show time will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes are better ways to own real estate. And this guy can help you understand how to protect what is arguably your most valuable assets call today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk to get away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com. Everybody it's very Armstrong and Jake tool Jay is the executive vice president at leader bank. And we're here to talk about a brand new product available for landlords it's called Z deposit dot net Jake. What use the C deposit. Barry we created a security deposit product. To really help the problem a lot of land border facing with security deposits which is. You know one it's time consuming to open the small internal security pop number sons. And yet to go into the branch yes sign paperwork and their small dollars and in the turn. And it's likely to complaints in Massachusetts really tough for landlords and security deposit accounts. You have to give them ten in certain forms when they open up the count and you have to pay interest they knew and we should do all this canal through Z deposit. All of that you can do through Z deposit it literally takes about forty seconds opened up an account. We handled the automatic forms that are generated the count number department condition statement all that since the tenant. And the interest descend to the tenant automatically every year. This sounds like something it's going to be very valuable to large landlords it might have 200 tenants and small landlords and might only have five tenths yeah absolutely with a large landlords. It's just a lot of hassle to managed so we make dad very efficient. For the small landlords a lot of them are afraid of nineteen complaints done correctly so some of them some of them don't even like taking security deposits were hopeful that this will help them do that. Folks if he'd like to learn more about C deposit go to their website Z deposit dot net. Or you can call and speak to somebody on the Z deposit team it's 7816418691. Or online at Z deposit dot net it helps. Landlords managed care Tenet deposits to great concept you might wanna learn more about 7816418691. Security suffered through securities America income members Sandra SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange for Barry and judges live on FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. We're joined by professor Glen Poland from Harvard and he's good enough to donate his time to the cause. Professor thank you for joining us today. Continue for for the benefit of our audience that doesn't fully understand what analysts is. It's a terrible disease can you describe it for our audience that may not be familiar with the. Yeah it and ultimately fatal neurological be used it gradually causes muscle weakness and allow. That's the really terrible spate. You know how many people have. In worldwide and in the United States if you know the numbers there. You know about a position so I don't know that I'll stop by at a rate. Okay Eric what's radical have a is supposedly a drug that helps the patients that have illustrate. Yet the first new treatment that approved in 22 years slow deterioration avail. Any evidence that it works. Yes and Barbara study in the primarily through. Didn't Japan and by Japanese studies and there's some debate among. People in the field under the not a position about how good the quality of that big ego Y but as the truth by. At BA period US so they found that it. I say and applications. Now I read an article by Ed Silverman and he referenced that it's very difficult for American patients to get this. Medication why is that. I have got to be the answer is largely price. I aggregate approximately a 145000. Ball is sure. Or withdraw. And many insurers are balking at copper or limiting there. Coverage category. Or advocate and yet we use a male patient. I am Nicole why are they doing. Well a couple things first of all I understand it in the US. I like. Like you a bird yeah. The mere fact that you approve the product doesn't guarantee that private insurers to cover a little different. For Medicare Medicaid when it comes pride in future. I think a lot of discretion of a couple of decision today and they get to evaluate not back there you proved it. But the quality of the dated at your life that the cost involved in the punitive. And maybe our insurer. Or allowing. It irks the only hindered our category that a lot of weeks and. Well described as so what are they saying that don't well we we just don't think it's gonna help you enough to be worth the 150000 dollar investment. I feel that hard headed up by saying it that way you might expect that your company out and that's reporting that you reference. Earlier they basically said only covered trailer faced them is functioning matches summerall characteristic. An individual level in the credit and well and those are people who need it audited band. And older as well hold different activities that measured. On the scale and wouldn't let it be following ratings. X better off. Xstrata rock and a location we wanted don't have distinct characteristics of those liquid crawl up it also question about what your ideas that occurred. And whether they'll cover you it's been too long. It's her diagnosis because the people the critical older early on her. Why is it so much less expensive in Japan it's a 150000. Dollars in the United States but if I'm in Japan it's 38000 dollars. Yet that's exactly right that a couple of reasons about why we eat being variations in the world perhaps the most important is that the experiment. We don't have control by. And negotiate directly with the current and that something actually the Democrat or remembered here actually one point. Our president trumps sound like it will war opened to retrieve a campaign but not when they were actually the result is. Many and they are little companies and expand the business before it all most drug sale and bought it and are they have to recruit their bet there's in different market as a result US patient and you sure as. Often advocated for an election. That thought cross subsidize the rest well. But I heard you correctly if you're on Medicare or getting Medicaid. You are covered correct. Well I don't think that there with a particular what I will stay at the bit and what role grew with it between being a mobile. And coverage for Medicare and Medicaid now that would that mean it will only cover two drugs in the air in the Baja. They won't cover every truck that appears for the haven't kept their he would have been at the restart on the lower right Prague. Fortune two iron right in the why I have this strike I don't know whether there Medicare medic aid in getting the certainly. Back at it will. Then much stronger. Will be the most unlikely that it coverage in Medicare medic in the moment I'd venture to much more very bright future. Again professor thank you very much for your time we do appreciate. It that's perfect for professor Glenn Cohen. Sharing some thoughts with a spy a missing AL us drug. You know it and what gets me here is you know if we had a Bonnie and and for people say over age fifty in to Medicare yet. We're like let's now more fifty I can I can shop and buy a private plan that. Pay 15100 bucks a month for that. Or buy into Medicaid or Medicare right. And have the government you know on my son right I think what he's saying is that's a lot of leverage. Says people pay how much do you charge that. You know he needs. The question that would be great question it is the you know be in that did difficulties. You know it is just my opinion in what I've seen over the years is that it. People tend to lose their jobs when the independently if you know especially if you work for large corporation. It almost is and I know this would never occur but it's almost as there's age discrimination. In large corporations now I know that you know IBM would never let people go just because the older. But when you look at people who lose their jobs often times there coincidentally. Their fifty years old to 62 years old to 63 years old. We'll try to go mountain mine health insurance when your 63 years old. In and you end up with a plan where they say well we're not recover that now and it cost you 23 grand a month and yet and then you find out owner under the 145000. Dollars from my analyst treatment you know that we won't cover because well no the FDA approved it but it doesn't meet our criteria there's something inherently wrong about that just just frustrates I know statistically it's at its. I'd General Motors shares are up four dollars and three cents and you might be asking yourself why are they four dollars and three cents. Well they received. Cash investment from soft. In their self driving car technology. And that is causing the shares to go up I will tell you I'm a shareholder in General Motors we asked a question. Which was. Do you hold a General Motors vehicle. And 27% of our listeners only NATO Lotta times I'm sure your family has couple cars during you know. Our families got four we we we don't have we have a leaked. Hopefully hopefully lead vehicle okay. The one of them is gee I'd like gee I you know what I. I really liked merry bar. As the CEO and she's pregnant ten years but I really yet and I've been very enamored with her performances CU she's gonna life for General Motors she worked a way to literally up the latter engineer by trade an engineer by trade has been there forever. Done a great job company have a lot of issues they've really turned it around though. And this is a great vote of endorsement by Softbank him. They coming up we're be talking about marijuana use and automobile accidents is there a connection. You bet your bottom dollars that's next on the financial. Life goes 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 rent today we're zero and leader banks all mine rent collection tool he -- 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 for all landlords visit WWW dug see rent dot net to learn more or call 7816418691. If you have a Roth IRA for personal investments here's something you need to know under the new tax reform bill Roth conversions are now permanent Colby Armstrong advisory group right now and get their free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now and Armstrong advisory dot com securities are for securities America incorporated member Finneran says PC and advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities American 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 -- line 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 required does he ran technology -- Obama -- as he ran team at 781 at 6418691. That's 7816418691. 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Net are you thinking about transferring your home to your children -- protect -- from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces do you really wanna write a check to your former son or daughter in law just to buyback your own home hi this is -- not -- and I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's -- addition to your state income tax -- better ways to own your real -- can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your -- immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log -- legal exchange showed dot. Com hi this is Barry Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to tennis -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one -- and 110 ounce silver and gold bullion coins are now available at all -- bank locations bank locally and -- your gold -- it just makes sense of -- -- called them learn -- call 8776917900. Or -- 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 -- 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 out of round -- with -- and -- banks all -- -- collection -- he -- automatically -- tenant's -- and deposited into your account visit WWW -- he -- dot -- to learn more we'll see -- your payments for each unit received regularly on the same day every -- 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 but I still Berrian joke right here on the financial exchange radio network. There's a trumps all. John and the Dow's down 171 points is due to the terror no. Question about that the market was up twenty points before the terror news came out nut dropped 200 so what anti terror I would say but if you'll GM. Joseph even make it up for your loss of my wife is happy shields Jia I just. I I I knew one of the Celtic just couldn't remember which one she's got way more money I'd have to I don't some GM to some feel pretty good about that but. Yet GM's got a separate news which is of this investment and their driver was carton division. Buried does a driver was scored divisions were right now based on this valuation know it. Almost twelve billion dollars. I'll tell you what in the G wireless. It's it's enormous for you know and it would it does for the elderly population transforms their lives but who will make money on it now they make money member air air air their delegates cool air flight was a big deal to remember when that happens. And yet 300 companies meal lost money in the going out of business so. You got technology right but getting the that the vetting other endorsements of the has been a different thing 26% of our listeners only GM vehicle. You know I think that's a pop the market charity. Is that if you look at Honda and Toyota and Ford and personal luxuries. Of right around when it's numbers incidents. But on market. I like a very years I would be years ago I wouldn't touch it. Oh yeah they had some rough years back in the eighties and nineties are some of the recalls yeah I'm I've had issues with GM cars in the past when no my favorite car. Which one I had. That was 72. Olds cutlass great vehicle. I had a seventy Chevy nova that thing was the fastest thing on the road bought for 400 box that I kept living creation. Let's talk about automobile fatalities. That you and Opie Hughes and I use. The tests are drug tests of car drivers killed. In 2016 found more drivers. You're not tractor. Had marijuana OP Lloyds or other substances in their system as opposed to a decade. This is rather distressing the latest indication as 2016. And Barry I'm thinking these numbers would be even higher today button. The last year we have results from was two years ago yeah. They found that 44%. Of drivers who died. And we're tested held positive results for drugs. 44%. Almost half of the people who died in Rex you know who were tested. They found drugs in their system you know part of the problem on news. You know with with alcohol you know you've had a drinker to break and you start and we can test you and catch you you would with. Drugs. Beard he'd testing is difficult but also a lot of people who take drugs in use wanna think oh I'm actually better. Add things they don't understand the the mechanic in the that loss of some of you were the mechanical ability no question here. Your body functions in Colorado they did a follow up survey because obviously they're caught paying very close attention to find out what the impact of legalizing marijuana has. One of the questions they ask people. Is you know are you a better or worst drive eaten when you're stoned. One in five drivers and I'm better when I've. Using this references the you use your depth perception. Is changed and so it's costing some horrific accidents. In as a as a consequence we've seen an increase in the accident rate. Also he is 6000 pedestrian keel he killed in twelve last year. And that's gone up as well and a lot of them are in in being impacted by drugs you know there's a civil liberties argument here in there's a safety argument and you know the a libertarian could say absolutely you have the right to smoke pot OK I think that's the majority people country support people's right to using your percent. However. When it comes down to bow when you do that you get on the road and there's no way we can test you for impaired driving you were now. Putting the lives of people on the road that you know are in danger that raises a whole other issue. You know the way there were 840 cyclists. Killed in motor vehicle crashes in 2016. That's a twenty. Five year high and I will tell you. I guess it might in my experience. There. These cyclists. Are. Nazi DER. I'm I'll be driving they take more liberties they do definitely Ida hobby drug trial Lysol plotted them. And they'll be side by side taking up the entire Libya going fifteen miles an hour so I try to pass them. You know they. It's begging for an accident are cyclists. I hit it I know the vast majority of them are responsible in answer I think. But I'll tell you the ones in my neighborhood there's a lot of them. It in there's a tremendous number of accidents in my neighborhood to Willamette fewer you know in a small car and you're driving along with someone else side by side Gartner and here's gonna take your time in you know hog the road and go side by side where you wanna go I think could be an issue with that. Somehow they feel that that's who doesn't do the rules don't apply this some psych in many cases him. Let's talk about Todd left ski and his guide to real estate ownership Todd joins us on the air right now taught how orient. I'm very well thank you and you. Good a touch let's talk about real state ownership you know it most people when they buy their first home talkers gonna buy a house and I'm sure he'll buy jointly with his wife John did the same thing I did the same thing. Isn't that just kind of you do EU by real estate to bite your name. I did that and think about that everybody got the most normal weight no real they were it not the most helpful way. From a tax perspective or a liability perspective or for any. So I wondered if I an investment piece of property. Million let's let's I wanna buy a Condo or. I wanna buy triple Decker and rented out to and conned allies that we how how should we stay there is that you've you've said you shouldn't Biden only jointly how how should. Somebody own rules. So in that case when you reduce your rental idea be to black people have rental property and they'll end up owning that jointly write put it on the deterred on the rental property. We're gonna get through the home. It here in the older and you happen to have a hole and Asian home wanna fatality bank battalion about an out of whatever mail all those at the gunman now via re. But what I haven't done it doesn't my insurance cover that. I don't know who don't much concerns have ranked number one I don't know why don't want wanna be pocket if I don't need a deep pockets so I put it in an LLC. Any rental property in a limited liability company. That it changed my tax liability one iota doesn't change my control one bit and now there's a lot do. The company and not me personally and so all that liability goes away and they can only get that building which they don't want. OK so that's investment property would if I own a second hold on keep cost how should I own that. Great question you know second home on Cape Cod or even a primary residence. You don't want to order jointly. Because of its joint it to pass the of the surviving joint owner when he dies which. Might be here or else you think that's okay then it's not OK prominent state tax planning and that's gonna end up putting up bigger burden on the estate tax liability of the surviving spouse isn't that should be all and it might end up going to probe. Whereas if you put it any family trust whether they people Coble trust. Directly or eight irrevocable trust depending on the wanna protect it from the nursing home. Either way in those trust. You'll avoid the probate and help you reduce short state tax liability. It's. It's complicated folks and Todd I appreciate your joining us today thank you protect you know if it's complicated as to how old girls didn't take it. I just. Because a lot of people do have a second or you know a lot of people have. Realistic that the inherited from their parents that they continue to rent out how he all the starts that. Cushing and old has put together for the month of me. It's called the guide to real estate ownership. If you own any real state if you're ever going to buy any state. Or you're ever going to inherit any state I would suggest that you call Cushing handle and now. And get this guy today is the last day week and call and receive this guy that we give to the phone number. It is 866. 8485699. How should you liberal state it's a very basic question many do you own it. Some of you may be doing wrong 8668485699. You can download you don't wanna wait for the mail to. You can download the guide. By going to legal exchange. Showed dot com so there's two ways to get it right you go to legal exchange showed dot com right now when you get the guide. Or you call told free. 8668485699. I will remind you. But today is the last day to call and receive that guy. John let's talk about these stairs the EU explained to us that the tariffs are the reason that the market is in the toilet today it's down 200 points you. Why the that would would aren't eighth a guy I read everything I could about it and didn't seem that bad. It doesn't really affect all that much I mean we've we've survived without risk on risk golf market if you feel like it's like trade war on trade are they going after China for bad behavior in the gate that we told everybody were gonna do this so why are stocks selling because no one believed it was actually gonna happen because paper tiger here I mean I think the president be the first to say that you know we take a tough position at the outset. And you hope to negotiate and get a good deal in this case I think a lot of people thought this was never gonna come to reality and it is going to be. Because we're going to be looking at a 25%. Tax tariff on imported steel and 10% on imported aluminum. And this is going into effect as of midnight tonight there's so it's not like rumored it's going to happen. And it impacts. Mexico. Canada. And the European Union and the bigger issue was well just doesn't affect all that much. The biggest issue is we expect the European Union to come out very soon with terrorists of their room. Impacting retaliation retaliation and what you're seeing now was. Yup the stock market 45% of the profits for companies in the standard poors 500 come from non US. So we actually make a lot of money in the trade business. And were seen here is the Russell 2000 a measure of smaller stocks. Has been hitting all time horizon because they're not exporting products to Europe. And to Canada at the Mexico so you'll hear insulated from this and small cap companies are doing really well that. You know if you're in the trade business and a lot of our economy is. You know there's a lot of red flags during happier. Up next will be talking about Toyota and Germany lecturing carmakers why. Well they also are in the cross hairs of president Donald Trump that is next on the financial exchange. Vote on our daily poll question had financial exchange showed John come out what you're mayor buyer of the media player and watch the show while you work. This case the financial exchange radio network. As we age the state claiming an asset protection become a Paramount importance to maintaining a happy and successful lifestyle many -- to go through this process think about transferring their home to their children are protected from the nursing home if you're not careful a nursing home stay can judge your financial well being and transferring your property isn't always the best solution because you're looking at huge capital gains taxes and home sold if you find yourself in a similar position you need Todd lets you bring in new guide the risks and rewards of real estate ownership a senior partner with Cushing and Dolan and host of the legal exchange radio show Todd will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes are better ways to own real estate and this guy can help you understand how to protect what is arguably your most valuable assets call today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk to get away from your children's creditors that keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com. I this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between both types of accounts are popular but there's an important change to the rock fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional higher rate to a Roth a higher rate after January 1 of 2018 that change can not be and done if you have Iraq diary or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated are are strong here and I'm joined. Liked potluck ski from the law firm crushing in dole and we're talking about something that sounds pretty basic but how should you all your real state. Todd if you're real estate is inning nominee realty trust. Is that going to be protected from the nursing home and also will it avoid probate when you die out most miss understood. Trust I think in the trust world it's not even a trust it's an nominee relationship nominee realizes trust. I know but it's not. What I mean by that is. When you put your property in to a nominee realty trust folks please go look at who the schedule beneficiaries are that you list to separate piece of paper attached it fits that children and you gave way to the chill you don't even know anymore you'd realize you gave it away because it takes effect immediately not your death. What's the difference and many people think that that doesn't take effect until your death. More importantly. If it's. If it was like my wife and I and the schedule beneficiaries as my wife and while that we didn't do one thing right back in my name and my wife's name Sochi are lighter and point it would even aboard so why is it being done. Because lots of times people might total maybe real estate attorney and anything can help the trust and throat in a realty trust. We usual realty trust it's just important. That the schedule of beneficiaries. Is another state planning trust revolt Kabul or read Europe your correct or not a person not your kids not yourself. Please look that up if you've got one of these. You know it sounds pretty basic how ocean you'll your real estate but he gets complex as you get older call Cushing handle and and receive their brand new guide. For the different types of real estate ownership the poll number is 866. 8485699. That's 8668485699. You can download the guide right now by going to legal exchange showed dot com that's legal exchange showed dot com or call toll free 8668485699. We have part of the financial exchanged in an instant. By texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. Toyota said on Wednesday that its shipments from Japan to the United States. Rose 22%. In April. Highlighting the problem he faces if the trump administration. Makes good on threats to impose. Higher tariffs on imports if you like your rap for. Maybe better violent now. Talk about bad timing. You know we've just gotten over saying well you know Toyota makes right here in the United States the vehicles that Americans buy from Toyota. Makes some medical it is that the problem is the rap for is really popular. You know I think when every other vehicle IC on the road is around four and as he doesn't think truck once the I mean every I would get one except for the fact that literally everyone has one new the rap for none are made in the United States. Even though Toyota's making a lot of cars that they produce in the United States for purchase year. More than one half imported from Japan. A lot of these are also made in Canada which has pushed so I in April Toyota exported 66000. Cars from Japan to the United States. The 22%. Increase from the same month a year earlier. From the department of bad timing depart out here battalion the not good PR wise for Toyota released it was environment and and I'll take another group of companies should be nervous and that be any German luxury auto maker of thinking Audi Mercedes. And Trump's gonna go after them and this I understand and he told. He he told them in 20152016. If you don't make your cars in the United States or at least make more of them in the United States on an hammering you and guess what he's gonna go after Mercedes is they're open BMW. They're they're increasing their manufacturing in Mexico in insane oh with a part of NAFTA worship on appear that tax. Does this kind of fit into that whole culture clash thing just perfectly you know BMW's and Mercedes yeah he. Talk about going after the other guys you know that the rounds of the money the elitists the Harvard crowd right that you could just doing. I think he basically sitting their I'd say with micro on the France. And he said you know. I hope to stop all Mercedes from ever driving down Fifth Avenue in New York City now Lama crone wouldn't Democrats like what's a pretty big deal. You know that that kind of goes attention but the that's tourist and he's reportedly you know poised to being in German luxury carmakers in the United States it's a little nasty here in the Dow was down 265. Points. The kind of talk the free traders want to hear if we usually what happens right did you have this kind of talk and he backs off. Right. Does that but in this case he didn't. We'll see us. You know it's like if ever in the right if he thinks it's old Leo it's it's only 10:52 AM direction right so tomorrow Kabila Kabila to an afternoon it could change what remember that that Kim Jung long meeting right. We and we thought well maybe it'll happen the next couple years. It happens and he. He is just don't hate me you can't. You need an interpreter in order to understand what's really going yeah I here's something you don't need interpretation portal. Seniors. Closing 72 more stores are anyway. There actually are several hundred Zeller is Donna Hanover John by us. There's a game is still open to it's it is like the one large store in the mall the six story it is a mixed or. The aisles or rather why you know there's not a whole lot of products Mets to a Condo and a lot of depressed employees to my wife was shot in there and it's great because there's no in there. What do you about it. She clothing like live they have very implements them but it on this great for great prices should they are that. I mean it's always like a clearance sale you know one on the latest stuff. But you know seniors they have about a thousands of agreements to you know. They've identified 100 non profitable stores Mike and vice your standards and that's Kmart to write it in his rickety old Kmart as well. Correct and they will shut down 72. The list of actual stores which may include similar area in fact but my guess is there will be some in our area. Under the coming out later today I wonder if the U. It almost seems like Sears is you know circling the drain on it certainly closing all the story I. That they and the problem is a lot of jobs there's a lot of people that work at those stores. But if you're working for seniors you polish up the resident you've got one foot out the door in your keep an eye opener on every job opening becomes even in the store to work in an Amazon warehouse. We may all be working Amazon warehouses eventually. So regular it is in. To put this in perspective a lot of our our younger listeners may not appreciate just how big seniors ones they were considered the unbeatable giant they were the end is back in the 1930s. Back in the 1930s and they remain the Amazon for decades in our business here's house here years note that is. Here's house now to self houses on and once that's in this year's panel it is one in my neighborhood. And it's still there. A seniors Harry just buy a house on seers and they would deliver need a new foundation leave no kidding well you know they they were dominant company for decades. And I remember in the seventies and even eighties. Yeah when when when Wal-Mart took the Mon people so there's no way Wal-Mart and beat them. In and Kmart to Kmart which he coached him. And now they're both on the verge. Literally Dick's Sporting Goods they actually had a bad decent quarter in the and I read though there online sales are 24%. But here. Same store sales down two and a half percent Shiite that. A W but that's still how I judge any retailer we do not same store sales with a Home Depot low with the slows whether it's a restaurant at the same store. I think you get the look at both though because you know he in this on the channel environment you need to be able to do both. And if he can really ramp up and on line business in the double digits while looking at Ladish. In store. You know goodness predicts. A little bit of a trump slot going on right now the Dow down 265. Points why it's and tariffs imposed I really don't think it's as big a deal is being made out to be but there will be retaliation from some of these foreign countries. Up next will be talking about the richest county in every state in America focused stay with us it's Barry and John. 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 776917900. 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 have a Roth IRA for personal investments here's something you need to know under the new tax reform bill Roth conversions are now permanent Colby Armstrong advisory group right now and get their free guide about Roth conversions the number is 803934001. That's 803934001. Or you can downloaded right now at Armstrong advisory dot com securities are for use securities America incorporated member of progressive PC and advisory services over the mysterious American advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you thinking about transferring your home to your children -- protect -- from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces do you really -- write a check to your former son or daughter in law just to -- your own home hi this is Todd -- -- I want you to know that not only does transferring the property put your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax there a better ways to own your real estate that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes I got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your -- immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log onto 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 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 tell them the cold as he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 7816418691781641. And a lot of people set up Roth IRAs win they are working there often contributing to them on an annual basis. The Roth conversions a little bit of a mystery for some folks are Mike what are we talking about when we talk about. Roth IRA conversion yes so unlike the traditional 401K or IRA where you receive a tax deduction for putting money into an IRA. The Roth IRA you put regular dollars in you don't receive induction but any of the growth is completely tax free number of advantages there there's no required and distribution and can be uses they're really good source of tax free income later in retirement. When you convert in prior to Iraq diary which are doing is you're taking money. Out of that traditional account. Putting it into the rock paying the taxes upfront. In order should never pay the taxes on the growth down. This is a case where you actually voluntarily decide to pay the tax usually with the idea that you're going to be in a lower tax rate rather rather a higher tax rate later on. And so this gives the ability to not pay taxes higher rate later. Absolutely correct so oftentimes people do it in a year which there and lower tax bracket intentionally. I'd be very careful about when you do it. Folks Roth conversions they can be a little bit Dicey just trying to navigate the different tax brackets and so forth and so are strong advisory group has put together. A great free guide to give you all the info you need on the raw retiree conversions. It's available right now at our strong advisory dot com and it doesn't cost anything to get it once again the only way that you can get this guy is by don't Armstrong advisory dot com. And he can get the guide titled an important update on Roth conversions for free. At that address Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. Hi this is very Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an inquiry or Roth fiery third differences between these two both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional IRA to Roth a higher rate after January 1 of 2018 that change cannot be and done if you have a Roth diary or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated time for bank the pays you with Lieberman Zimmer award 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 tease me reduce earnings rate subject to change without notice member FTSE. Leader bank a step ahead hi this is very Armstrong and if your landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered there information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to -- -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. This is the financial exchange with the Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up. Yeah about an economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. Well we had the trump bombed and it is now followed by the trumps law trump dump the trump don't. The the Dow was down 235. Points and it is a consequence. The administration's announcement of tariffs to gains boosted European Union Canada who have Mexico and Mexican network yeah. There's start taxing the aluminum steel at least you. Really shot China. And is as I understand it in the end it is but it's. Going to go into effect at midnight tonight so the 25% 10% respectively terrorists will be going to affect and nobody thought this would ever happen no I don't happen and as you said I mean you never know gonna happen this could be rescinded maybe who we haven't thirty bullet but the earth. I admit that to bar I mean this back and forth game it's a risk on risk off. Tariff on terror plot the sort of direct its after trying to explain why they get that basically. We are getting this. Steel dumped on us because Canada's getting steal dumped on it right now so they're dumping steel on us even though it's really coming and it's it's a consequence of China. Subsidizing steel industry and it's an ongoing battle with China negotiating even much bigger issues surrounding trade in general so. You know we talk about the fact this is. Falling this whole terror discussions kinda like going to the kitchen Gael it's your favorite restaurant you get to see like what's going on behind the scenes is not real pretty. We're seeing a lot of the negotiations and that that unfortunately the market reacts to every two and tapped it goes on him and right now it's bad news but like you said tune in tomorrow might be good news let's talk about something fun the richest ten pounds. In every state will do all of New England. We'll do new York and we'll do floor to media. It's it's it's interesting to see the just say in Connecticut it Darien Connecticut yup I would have thought it would be an. Did you. There there are neighborhoods in Greenwich which I'm sure way way up there median household income in Darian Connecticut 200. Thousand dollars that's the median means half the people make more than half the people make less 79 point 5% of the population has at least a bachelor's degree. In the median home get this median home body type es that you got problems. Median home value and Darian Connecticut. Is a 1240000. While sir give a million dollar home you're like below your bike you're like yeah you're nothing you're nothing. Population of Darian 21000. People and that's your answer right there I mean Greenwich has larger population and that they so this is a concentrated small town than by any definition. And the median incomes 208000 and compared the other states in Matt in New England really appeared in the states in the country that's off the charts you're been to Key Biscayne Florida. Oh yeah. Beautiful place love that that the real world to take to get out there the south coast of Miami is still get to Miami if you want to you flying to Miami you don't wanna be there and herky. Knoll that you hear crook literally out of him on Euro median household income in Key Biscayne 124000. Dollars. Median home value over a million dollars. In those are condoms he is a culture of vast majority highrise condos yet. And then. Adults with at least a bachelor's degree. Seventy point 6% of the population population of Key Biscayne is only 121000 people surprising that a bigger. Yeah that's just in terms a year around people obviously Key Biscayne goes through the roof in the offseason. In the wintertime than tourists. You know go there in February or march as I have and a that there's not a lot of room to room cycle mean. Very wealthy part of the state of great speech mean. Median household income will only 59000. Dollars that's like. Less than a third. The Darian Connecticut isn't it interesting that you know in Gary Connecticut the media's 208000 but you do go to places like Vermont and Sacco main. You Sacco Maine's 59000. Median home value 232000. Dollar yeah it's like a different planet. Drew hit it really is it's it's fascinating thing I'd rather be in Sacramento I think I would do and I think I'd rather have the cost of the house to compared to you know I'm. A million dollars getting you entry level housing. In Derry at a Vermont South Burlington yeah. 66000. And that doesn't seem all that if that's the highest in Vermont look at Winchester Massachusetts. Winchester I thought it would have been Weston or wealth in new. Yeah. I am surprised that I I think you know it is Winchester Scott better proximity to the city. Okay and median household income in Winchester mass choose 249074%. Of the population has college degree you. And median home values 796000. Dollars personal here actually Wellesley as the is much higher than that yeah I think. Now but we just were a population that met again I I think what's happening is this is skewing towards 20122000. And I think about the same as wells in Weston is human sin NL west and small. OK I'll surprise Weston's iron that Londonderry New Hampshire. Median household income Londonderry is the richest town in New Hampshire. Median household income 85000. Dollars vs state median of 60000. Dollars. Median home but only 276000. Dollars place to go if you need nice place to one of whom I 40% to 40% of the adults have a bachelor's degree. But we won one I just it just struck me why. Weston and Greenwich Bart hire him that's because then this is my theory is that this is medium. Meaning if you have someone who makes fifty million dollars a year. They count as one person's eyes they're offset by the same person who makes 80000. So I think if you add average income. I think like the entire ownership of the Celtics Newton. Would yeah like they all look like an all live in Weston would push that like much higher in a sit immigrants to upper Montclair New Jersey 890000. Did we get New York State security standpoint that's out on the island appear. And median household income Sands Point New York 231. Dollars 79 point three have a college degree. Median home value Tucker he thought Darian was that median home value in Sands Point New York two million plastic patent counter. BD BDD six if it really what did you million dollar and you don't know how much more than two million it is but it's more than two million in those people who live there not that those are second homes so those of who was picked it helicopter work. Let's not forget about Rhode Island. Rhode Island is Greenville Greenville. 77. Which seems a 34% with a college degree. Median home value 266000. Yet anxious of New Hampshire. Rhode Island Vermont Maine. Have fewer of out liars I would say compared do you know Connecticut obviously Massachusetts. You have any concern over. The richest 1% controlling two thirds of the world well like 2030. The meeting area come after the 1% with pitchforks. That's already happened now I think it goes beyond he's gonna happen again we're in the post pitchfork. Era view we are yeah I mean. Income disparity I mean. And at what point. Does that does that mass population saying hey why does the CEO have to make twenty million years to me. Ten dollars. Four years ago forty years ago I think we're we're well past that point and this is going to be a big issue going forward politically you do and I do I do and I think there's going to be a consensus that there's something not particularly right about this now even a month and free market conservatives and and libertarians who don't believe the government should get involved in issues like that the problems. There was dirty actually one thing that kind of follows that news you see the story about Wal-Mart. Yanked for their workers college education. Now it's an online education but it's an education nonetheless and a lot of workers at Wal-Mart didn't have parents that were help would go to college. And to make this possible Wal-Mart is basically charging a dollar a day. So they like about it is is. The worker still gonna have some skin in the game. I mean paint bucket day 365. Days a year so when they're working or not a pain in the dollar today but they're getting an all online education which. They may not get it and I'll tell you more and more education job is moving on. And and they're gonna be able role in this case at the University of Florida. You ever taken an omelet I've never taken on the I don't know lost a great up all all all by continuing education my vast majority it's done online right I like it and I learn better in close the door. Sometimes that to put on headphones and focus on exactly we sit in a classroom right you walked to the clot from it skipped the class or human pay attention. But Buchanan pretty girl. Break we we knew we need to I'd never happen pretty girls and online class right gets hit it great is they know whether you're there or not. Right in any test you as you're going through the costs usually perspective is the other side of it would be that at least when you go in the classroom you're in that disciplined environment of the class then and you don't have the television in the background with the you know the music you've ever music. I mean there were distractions at home. And there are distractions but the fact of the matter resolved line is is is a gray area growth and I think it's great that wal mart's doing this and I think this is the wave of the future this is a way to get. You know a lot of working class people who don't have a college degree to be able to earn a college degree had very little cost. And they expect 68000. Young people and we greatly to participate in this satellite I think it's fantastic and you know hats off to Wal-Mart they raised the starting wage to eleven dollars an hour. Which in a lot of parts the country was a big move up the we're also expanding maternity and parental leave benefits. And so there there they've made a lot of steps in the right direction say why do we care because they are the biggest santorum's rolled over his yelling what are your money I mean they're the biggest employer in the United States are. He what do you be talking to Scott Shane from New York Times but that's our next segment. We're going to be talking to him about artificial intelligence and and some really interesting conflicts going on. About the weapon as a nation and awful lot of artificial intelligence is gonna refusals part of this conversation yet and they're stuck between a rock and a hard place between a lot of moral issues and technological breakthroughs. Very challenging situation for them fascinating interview coming up next on the financial exchange. The financial exchanges of live on FaceBook so make sure like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Hi this is Barry Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about he rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and even send out annual interest payments directly to attendance -- call the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank step ahead. Are you thinking about transferring your home to your children are protected from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to -- your own home hi this is Todd lets you know I want you to know that not only does transferring the property your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax -- -- better ways to own your real -- can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your -- immediately by visiting legally exchange showed dot com don't put your home at -- 8668485699. Or log -- to -- -- showed dot com. Hi this is bury -- -- and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating count disclosure forms and even send out annual interest payments directly to attendance this call dizzy deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit. Dot net member FDIC leader bank step ahead hi this is Barry Armstrong and if you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between both types of accounts are popular but there's an important change to the raw fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional higher rate to a Roth a higher rate after January 1 of twenty team that change can not be and done if you have a -- diary or were thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities are pretty 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. Join our brand new tax club by texting the word Mary's to 635660. And send your first and last name and get involved today you're listening to the financial exchange radio network. This segment of the financial exchanges brought to you in part by leader today it's not too late to get at a great rate of home mortgage. Leader bank has some of the most competitive rates around. Call 8776917. B 900 or visit leader bank dot com for more information. Leader bank is an equal housing lender member FDI CNN analyst number 44925. Year. Artificial intelligence has all sorts of military implications a woman who had Stanford's ai lab. And is also the chief scientist for any idea cuckoo clock out. Well she's put them advising your employer Google the keep quiet about this Scott Shane is. Sort of fascinating piece in the New York Times Scott thanks joining us. Scott doctor Lee is very concerned about the sensitivity. Of weaponized in robots explained the situation. So at this so rose. Earlier in the spring of this year one man and Google which. I had. There has somewhat different approach to at least historically it has somewhat different approach to military work and so the other big tech companies. Got into base a smallish program called may have been. Where they use artificial intelligence to go through. And analyze imagery. This is sort of massive video imagery mostly collected by drones. And some. School employees didn't like this idea because obviously the analysis could be used for drone targeting and that's controversial. And Google which as some folks may recall. Began with the motto don't be evil. Always had a sort of idealistic. As spin on things and so what you want to work there. Did not like the idea of them getting into the Pentagon work and so they began a certain internal petition and protests have various kinds and it really has. Divided the company. So they fatally is that sort of superstar. Artificial intelligence researcher. And we got a hold of some internal emails from Google. In which should she essentially was saying. As exists. Pentagon this sort of initial pentagon project. Got started. Is that they shouldn't say that Google should and should promote it but they shouldn't mention anything about artificial intelligence. Because she saw that would associate artificial intelligence with the panic in with server robotic weapons and that would be bad. So especially these emails that showed her trying to spin. The projects. In in what some it was certainly call misleading way. Go to almost no I don't I don't just take you back to wondering you know if Google were around at the development of the atomic bomb. What we have had this kind of same technological. Today. Well I think that's right you know what's interesting is that Microsoft and Amazon and some of the other big tech companies. Have done in pentagon work. For a long time without. Any you know big blow ups inside the company. But Google has a somewhat different culture that way. And so there and they've avoided it so they're sort of at a crossroad now on top part of the reason is. That's artificial intelligence. You know I think simply would almost say is the future of warfare. You that you can't you know it may be the future everything else thinks but. But you know. Drones CU which is which some people come. You know I think there are sort of creepy at least the ones they go out and spy on people or kill people. That really is kind of the future it's it's pretty you know it's increasingly going to be. And inefficient in need to have apocalypse you. When you consent to send a plane up without want to do whatever you want and sort of that way. Everything that the military does is is headed. So so how does this resolve read this clash that you described between sales people salivating over the defense contracts. And scientists with moral objections we're does this take Google. Well Google says that it's been working on a set of principles. That will. That's sort of settle this argument try to sort out what they're willing to do what they're going to do. And right before our story close it was going to press. They told us that today. That these principles would would ban the use of artificial intelligence for weaponry. But to tell you the truth that we didn't play that too much because unless you get into the details. It's very hard to say how that would be interpreted. And you know and that we didn't wanna kind of get ahead if things but it that they are they're going to put out in the next few weeks they say. A set of principles and then my guess is. The attitude side in this argument win in school and outside Google will sort of ash over the principles of what they are what they don't allow and how that might be interpreted. And you know probably Google will steer either in the direction of a whole lot of defense work or maybe away from. Yet and already a number of resignations. In that department too right. Yeah there are some resignations and there are some very senior. Specialists in artificial intelligence. Crude do not like the idea of Google having you know in that direction. Partly because it's going to be huge business likes what your name panic and does. This country billions upon billions upon billions of dollars and I think some people are afraid that Kubel could end up. He you know to some degree being associated. With this kind of work or defined by the end and that's what they want to do. You know anecdotally what one thing I just think about is we may long for the days when the bad guys had to literally. Take the wrong life or put their life on the line. To do really horrific things. The downside with mrs. You can do horrible things without any risk to your life. Well exactly I mean ultimately. You know there's serious talk about in anticipation of autonomous weapons you know where you would basically just say. You know OK robotics weapon go killed Jon and he goes and finds you until you know. And it doesn't that doesn't have to be human in a little bit that they don't have it could have been a human who. Who sees you recognizes you pull the trigger the machine does that. In the early 2000 you have to take your own life to take down an airplane and yet this is a scary scary situation. Scott chain fascinating piece in the New York Times thanks so much for joining us. Appreciate it unfortunately technology you describe his or here. Yeah it is the question is though when will be used in any large scale. The answer is it doesn't had a big news can be used to 8881 this one thing we should be thrown stuff. I think one thing we should feel good about his power drones are better than anybody else's drones are you know when you look at our technology the United States has always led. In that capacity and all of our schools here I don't worry about countries I worry about the nut job. Mean the individual entrepreneur or who is now creating all of the problems were dealing with. The guy who. Does something horrific DL over a neighborhood and that's unfortunately some is be very very difficult stuff you know that's going to be difficult to police. They coming up or are we talking about Beacon Hill trying to raise taxes. That's right fees they call them but. Taxes. That's next on the financial expert. The financial exchanges alive on FaceBook so make sure to like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Are you thinking about transferring your home to your children -- protect -- from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to buy back your own home hi this is Todd buckskin I want you to know that not only does transferring the property your home at risk but it can also create a huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state income tax -- better ways to own your realistic -- protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes a got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of realistic call now for your free copy at 8668485699. Or download your -- immediately by visiting legally exchange showed dot com don't put your home at risk 8668485699. Or log onto legal exchange showed dot com. Hi this is Barry Armstrong in it you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an in. Important change to the rock fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional diary to a Roth a higher rate after January 1 of 2018 that change can not to be and done if you have a rock fiery or were thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. Securities are for securities America incorporated never been SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated 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 -- gold locally it just makes sense give 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 -- guaranteed by the bank and may go down in value leader bank a step ahead time through bank pays you with liter maximum reward accounts of 1% cash back with -- debit purchases and an extra 10% back when you user -- -- 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 he's been reduced earnings rate subject to change without notice member of the NC leader bank a step ahead. Very our chart here and I'm joined by Todd let's keep from the law firm of Cushing in dole and we're talking about something that sounds pretty basic. But how do you how should you all your real estate tadic your real state is in a nominee realty trust. Is that going to be protected from the nursing home and also will it avoid probate when you die. GAAP most miss understood. Trust I think in the trust world it's not even a trust it and nominee he relationship nominee realizes trust. I know but it's not. What I mean by that is. When you put your property into a nominee realty trust folks please go look at who the schedule beneficiaries are that you listed to separate piece of paper attached if it's the children and you gave way to the children you don't even know anymore you don't realize you gave it away because it takes effect immediately not your death. What's the difference and many people think that that doesn't take effect till your death. More importantly if it's. If it was like my wife and I and the schedule beneficiaries as my wife and I really didn't do anything right back in mind game and my wife's name Sochi are lighter and point it would even aboard pro so why is it being done so because a lot of times people like oral maybe real estate attorney and anything can help of the trust and throat in a realty trust. We used realty trust it's just important that the schedule beneficiaries. Is another state planning trust regal Kabul or reap or mural correct they're not a person not your kids not yourself. Please look that up if you've got one of these. You know it sounds pretty basic how should you'll your real state but he gets complex as you get older call Cushing handle and and receive their brand new guide. For the different types of real estate ownership the poll number is 866. 8485699. That's 8668485699. You can download the guide right now by going to legal exchange showed dot com that's legal exchange showed dot com or call toll free 8668485699. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. The Dow is down a couple hundred points but General Motors shares John are up over 10%. Probably reset in kind of remind everybody wide GM shares are up 10% that's a. Big move for an auto maker while they have a subsidiary that they own a big part of their growth in the future is with self driving technology. And they sold two Softbank. Is very large substantial investment in that company. In you know you normally wouldn't be that big deal but I think people are saying hey this could be the future and these guys could have the lead in this. Giving a General Motors a big head start over a lot of other people in what will be the future. So our poll question today is do you own a General Motors vehicle you can participate in the poll by. Visiting our website financial exchange showed dot com or you can text us at 63566. We'll tell you and usual results from the poll 42 point 3% of our listeners owned Gian via. That's impressive and I think that's above the market share of the General Motors has in the area because you know this in New England is still a large import area. A lot of toyotas lot of Toyota's lot of Honda's lot of Mercedes BMWs you know. I I would say the we have a higher than average. Market share for imports. And have General Motors which is just one of the domestics at 47%. Is impressive let's see with the second our audience Chiming in financial exchange showed dot com do you own. In General Motors vehicle would give you an update on the pole and probably ten minutes. Beacon Hill moving to raise taxes in Charlie Baker's gonna. Veto this he said that his plan is that he would very low. Likely veto this but the plan is to you know I hate bury it's so easy to always drawn more taxes on car rentals you know that. Hotel rooms car rattles much of our people around in hotel rooms noted on he's here to on real estate transaction that two to go or feed on each car rental is the proposal. And a ten dollar fee on number courting the mortgage now. In a surcharge of mortgages of between twenty and fifty dollars again huge money but. It adds up to about fifty million dollars. Proponents of this say it is needed for police training county government marks an open spaces. Affordable housing while global group an affordable housing for sure and historic preservation all excellent causes. The question is do we he would taxes well why not cut something else to give your business owners use the EB look at that it's okay while. I agree we need money for these areas but why not cut some of the wasteful spending that we and I think if I could if I went into the state. And they just said very do it every one I've acted cut 12%. And nobody would notice change. Well you have a difficult legislature got to deal with the you can handle Lotta people objecting to that and that's why it's different running the state than it is running a business. Yeah it is very frustrating for people in the private sector who get involved in that as I zephyr would go to Paul you get you get frustrated. I just don't have patience because those who do get in the mud. And as they said Berry who he'd be the dictator and ideals. A dictator for life I can do that now wouldn't you wonder benevolent dictators who I wouldn't be benevolent. I'm very happy and you know you have Democrats the Republicans very benevolent dictatorship and upload dictatorship would you vote for a I would vote for Monica but that's because I know he relevant question with veto would be or else persons that. Very I had forgotten that he's no. Well I don't what would the average citizens say yeah will. We trust to do what's right. Test was model three finally earned a coveted consumer reports not big knock on the Tesla model three was that didn't stop so guess what. It did real well on breaking disunity changed though. I'd I'd the braking distances it's all all done if you didn't have to take these cars back in his fit to do over the Internet. Yeah it is all done remotely it's it's amazing if they did so within days yeah. Because the error we are knocking him last week in stock went down last week as a result of there you know there were breaking pattern. But then Elon Musk went back to the right and in just. Virtually in it and almost get ejected though is stocks down 2%. That that's a whole other should either be asked to do with that investment by Softbank in the fact that right now I think the feeling is that General Motors. Has a head start certainly on Tesla about I don't see how things are current cars are correctional. But it would be easy one yesterday hit a parked police car. That's who. Might be a problem I guess yeah to be that. Boot unit Iran's rulers officer. You know he's not real happy about it and it's not gonna make good publicity. Just has some major obstacles to overcome look I would never bet against Elon Musk but he really has a big challenge year. To get this company to scale to make products that compete with giants who now. T mean literally. Very tough. Very Armstrong here at like many view I was very interested to watch the markets after president Trump's tax reform bill passed last December. If you haven't diary Corey Roth buyer now what little nugget that did not get much media attention after the bill was signed. Was the idea of Roth conversions or re characterizations. Under prior rules if you attempted to convert a traditional diary to be rot fiery. You could undo that request and not take a tax it as long as you made the request before October 15 of that tax year in question. After January 1 28 team that provision no longer exists. If you're concerned or have questions about how this change will affect you. Call me right now to get my free guide. About Roth conversions the number. Is 803934. Zeros or ones and talkers this the last day it's 31 yes and its allies in Asia last game right that number down folks it's 800. 393. 400. When you should call now. Because is too moral it's. Mean you can't get back. 803934. Zeros or one if you're impatient you can call right now. Armstrong or you can go online arena excuse me Armstrong advisory dot com and download the guy right now it's 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. Still the you know that number of GM owners ease ease rising I thought that. Number was artificially high and the second our audience would come in and kind of bring that are despairing are older. I just I just think it's like missed 48% of our listeners only Jia price I only a third below or. I did on that I would think in the twenties I would GM product on so we have. I've sat and believe in is that GM yeah used to be complete general motif here. General Motors used to have Saturn and Pontiac. They closed bull work brands after the recession in 2000 organizer and I get stuck with a car that does not want terrorists that. Through General Motors the good thing is they share a lot of parts with the Chevy and Buick people in cadillacs and get parts and yeah it's getting increasingly more difficult for the government trade mine and I have a good idea that car to you yeah. I know commitment. Mortgage rates are dropping. But borrowers are not by. We've talked about how we were eagerly anticipated while now rates are gonna come down it's going to be great news. Mortgages went down zero point 02%. The thirty year went from four point 86 the four point eight war. C should have gone down more that I know ten year treasury. We collect other sticky it it's like just like gas prices are set yup you know gas logo for oil will go from seventy to sixty. And nothing changes at the pump. Oil goes from 6061. In the raise the price of buck you know it's just like. Yet doesn't sit there and they're very quick to raise rates kind of like that would mortgage rates when rates go down in a dropper. And that's what happened here mortgages applications actually decreased two point 9% this is not exactly shaping up as a robust spring buying season. Number one reason is there's just no inventory. Around looking for for sale signs to curiosity. In our neighborhood and and when there is one drive by the nickname to drive through the neighborhoods that have. Seven and 101000 square foot homes lob percent but if you're looking in the 400 to 600 area Bono as soon as the stock is listed its old we we have at over Iraq scoff that apply a basket and we see it for sale sign in that neighborhood. It says sold two days in and they. We need more product we need more homes. This market right hi how are too high. In the people were building or buying higher and because. They can only get limited number permits and look if you can only get billed ten ounces in your choice between the building and a one point five million dollar home to 300000 shareholders in these non like we knew go to trying to sell those homes which I am trying but they don't care about that as a builder in that the beer I think he must be having difficulty selling. No I don't I am I look at it and son of a gun. People in and our neighborhood right does big mansion in 2000003 in our homes there's. That's a different market but what I'm talking about some of the new 708. About only on Jay Leno on takes their build them like crazy and people reaching to extend. To thwart these nice new homes that probably are overpriced. We just have a completely unrealistic housing market. Based on the back of supplying into me and you don't get price discovery. When you don't have adequate supply. I that's I think that's the problem and we're seeing you know we're seeing mortgage rates affordable. And yet people aren't buying it people want to. No they do yeah Tucker's guess it right there exactly pending home sales are down to Terry yes. Andy again he can't sell you don't hurt ya if there's nothing for sale was enough of the body I mean that's our analysis why is he. Thank you for I. Go to business I actually yeah vertigo Harvard I worked and after three years yeah. Coming up and speaking of bright guys and Bill Gross had a tough day yesterday. Bill Gross was used to be called the bond fund king. Long in the tooth now in late seventies and he had a tough day that's our next story on the financial. Barry Armstrong. Chunks not a breaking business news every day right here on the financial exchange radio network. Are you thinking about transferring your home to your children or protect it from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check to your former son or daughter in law just to buy back your own home hi this is Todd lucky and I want you to know that not only does transferring the property your home at risk but it can also create a huge capital gains tax when they sell right now the federal capital gains tax can be as high as 23 point 8% and that's -- addition to your state income tax -- better ways to own your real estate can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes -- got a brand new guide to real estate ownership out this month this free guide we'll show you the best way to own different types of real call now for your free copy at 8668485699. Or download your -- immediately by visiting legally exchange showed dot com don't put your home at -- 8668485699. Or log onto 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 rant 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 required does he ran technology Tillman McCall does he ran team at 7816418691. 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. I this is very Armstrong in it you're getting ready for retirement you probably have at least some of your portfolio invested in an IRA or Roth fiery third differences between two both types of accounts are popular but there's an important change to the rock fiery now that president Trump's tax reform bill has passed Roth conversions are now permanent so if you attempt to convert a traditional diary to a Roth a higher rate after January 1 of 2018 that change cannot be gunned down if you have Iraq fiery or worth thinking about converting to one find out how the elimination of this tax friendly provision can affect you call now for my free guide about Roth conversions the number is 803934001. That's 803934001. Or you can download it right now at Armstrong advisory dot com. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Security suffered two securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear through do it. Thanks Stewart Barry a 63566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Tucker were down 43 point 9% now on our listeners owning a GM products still higher than thought. Yeah value we we anticipated and number of like 2530%. But 43 you know it is a lot of households have multiple vehicles and give a true good point pretty good chance you might have Agee and they may keep track. That's really the point is that essentially mean is a 43% more pitcher like for example in my house. We do the GM vehicle but it's half of the vehicles Saturn. If I noticed Saturday I would I would completely denies it. You know I think I only brought up here has your Saturday it's the 2007. Whole week how it's and it's into your shield that are hyped up. We it will you know Scott put him and you know what that is a Scottish name. Even worse even work you know here's the best part I I bought used in 2011. I. It got out of the I I get stopped every night callers saying. Reach you can easily convertible. It was our actually those are the really nice it's a cheesy pepper I'm I'm I'd like to but it just just as driving on the beach. In these kids go. I. A but at Iowa by a guy water ski with as it is that it's a lot of fun if in the summertime not the winter time right. They built girls. He's got to be close ED. He gonna do a factor. Work force how old is bill grows you can ask the scissors theory year global. And build programs I'm gonna I gonna place again this year I'm gonna say bill grosses seventy cents. John you're so he's a say 74. You're correct on seven for good as well. Bill Gross is heat and he's legendary I mean he'd use it used to be used to mr. bond market into the bond theme. Had some falling out with the company he started picture of they threw out of a company he started that's not easily be careful idea that I guess he picked. I I have to tell my food. He's got to have lunch and I get I get also there's a test like that of the vistas but they eased warrantless is neck artery attempt at. There's soccer guys paradise but I don't need don't wanna listen the story bill bill Bill Gross had a guy starts are a good. Bit by a buildup Bill Gross. Was really he moved he moved the bond market leaders I mean. In terms of assets are available now on and yet he he managed like a large percent of the the bonds or trade in the United States. He's got a tough but tough day packed his worst day ever when we talked about the Italian bond market collapsing the other day. His fund is now down five point 9%. Think about it would you put your money to bond fund you're expected to go a lot worse state yet you're you're not looking to roll the dice you're looking to protect your money that's why you're in bonds are. He's downfall what does this do to him do you think. I think a lot of people say hey bill you've been great but we're out of here when I I think personally he's got a relatively small font the jets. Two billion to billion in in that area that's not that being bought it's his own money to her pockets as well. He put every penny he had on when he moved from him. Then he doesn't know have a whole lot of strangers in that point now he pretty much knows everybody in that is my guess which is mostly him and his family. But this is a lesson and and what you think it does raise concern here to meet the Barry is. The action we had Ian bonds on the other day on Tuesday we talked about it. Raises questions about liquidity in the bond market with the market collapse. We've not had a Clark he tucked it tiny Italian bond market. What there was a caricature of something that could happen and of the markets. Very large economy very large bond market literally collapsed unlike anything we've seen in the last ten years. But I can't you know I think that happen I think the one people were buying Italian bonds just to get a little bit of yield in Europe. Even though the bond yield was low he was much higher than other countries select people aren't doing their do do was always think everybody's assuming the central bank's gonna back from a yet. That's the valley well yeah. And you know slightly can't leave the euro's. Exactly and also some admission that at that yield it was fairly attractive because the risk. At least as a pretty. Good economy and then they have massive debt and the question is can they in the service that that. But you know sad story for Bill Gross a means to get more than works. I was surprised to learn that the Italian economy is larger than the Russian. Yes that's something. And that's why we're concerned about this you know people they I Italy Spain Greece wayward no comparison agrees with. Greece would be like a suburb of one town in Italy in terms of its ideas the I don't think a lot of people. DJ there they are. You know it's either Italy's the bigger than expected or Russian gas is there it's both. It's both Russia is nowhere near the economic power that they used to be sure. In Italy is a very very major player in Europe that's why there's. That's a reaction yes on tunes then because. You don't terms of Portugal Italy Greece and Spain remember those of the gimmicks. It was a big economy. Be careful when you open up the new credit cards because he's darn cards companies will change the deal after you sign up with chased by sun to set a tag yet again chase sapphire cart. I never got one I just too easy. But they eat those people who didn't get chase sapphire card. Now the deals change yet they they no longer offer price protection in their sapphire reserve guard. In the article that was in MarketWatch. Makes a really good point there're been some amazing deals or credit cards. Well worth doing especially if you pay them off on time and especially that first year before they institute PI annual fees of you know I guess what the party's gotten a little bit carried away and now these credit card companies some of whom their parents effect that massive. Charges on their earnings to pay for this stuff they're pulling back because they're losing a lot of money in these deals is lot of freeloaders up there at. Cal that especially the New York how to gain the card and a lot of people doing that and in the and you take advantage but be careful with his that there the deals aren't as good as they used to be. Markets. Recovering modestly. The nasdaq's actually in positive territory it's up 23 points for the Dow was down a 150. Point. And crude oil trading at 6734. Per hour. It's very Armstrong John Monique and Tucker Silva signing off today from the financial picture.