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Full Show 7-31-18

Jul 31, 2018|

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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 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. Well apple reports earnings after the closing bell today and this is a very important earnings report for apple because it could bolster. The technology sector which has been under tremendous pressure during the last couple weeks course you all know about the FaceBook story their stock. Slid gash you when planes down 25 percentage right now down maybe twenty. And then so we'll talk about that but we're pretty high too that's the other thing you know you get a day where the Dow's up a 123 points. But technology stocks could be under pressure for a while so where'd you hide your money in that kind of situation hi everybody it's very and John Moody with you here. On Tuesday morning and you know apple because they're so big they're close to a trillion dollar company you. The everybody has an apple product everybody knows who they are. Their earnings are always important but today. I think the fear of Paramount importance because of what's been going on with the things it's an accurate about that you know it's apples were a different apple has so to speak compared to some of the other stocks in that. You know we used to think of it is a a sixty tech growth company. But it's really a pretty and sexy basic consumer products company right. That has this incredible product the iPhone and is developing service revenues. And as the most profitable company in the history of the United States and anemic sixty billion dollars a year. The flip side that is it's got to be kind of boring and predictable it's not growing nearly as fast. Is become a company that is is just printing money at a slower rate now but there at sixty billion dollars. But I think it will provide a little of the backdrop and support because we think of it in the context of the bank. Things are fine. And giving the expectations for a while there's not a whole lot and there's like not new products coming under and limits I think they've had a lot of missed some nice to nation that gave their home product. It's terrible. Days theory is useless. They have this thing called car play the guys who didn't sucked into that guy he's that frequently you do use just point in my phone to my Honda Accord in ninety. Navigate my yeah music contacts fumble corder. All through my car it's a GPS to act I don't like it. Does that mean it's over your there your radio like I wanted to listen to the radio then and I could. I did today I want you just listen to the moon catch the news report and and it would lie on the site I'd. I deleted and maybe I'm just passing them they're very pro another varies from. Well again if her from an investment perspective. There's a lot they're not doing right. And yet they still make sixty billion dollars in here. On the flip side. Amazon's doing everything right and make much money and retails so yeah it's nice to have a business that really does that do all the world to make you ridiculously rich and that's our son buffet likes the body yeah that's right weren't bought that company you know who I and I know the company I just. I outs I am not crazy about the watch and are bought the watch what it's doing well. I never I don't like the whole product has not I have no interest whatsoever on the watch. I know people that have appeal. But your dinner with a minute look at the game yeah well I and then a phone. And the owner I gotta go I got to go there's a really important text and I took the watch sales are growing and the real the the big story with the watch use it is going to be health device via. It's gonna monitor your heart rate your blood pressure. And all kinds of diagnostics. That will go you know and real time to your doctor and that it might be worth it is you get older that's going to be huge thing and it's growing so actually. Huge huge you know anything about it. Use you fall down the stairs will be that we pusher watch Jimmy gives you a lot of tools check your blood pressure can do all those things. We've talked Brothers last week the elderly populations stand to benefit the most from a lot of these breakers for robotics yup. Two artificial intelligence to products like the the Smart watch. This this is gonna help the wheel drive cars you know I mean war. After another I'm thinking while this is a meeting to order product for people over seventy so any thoughts on Apple's earnings in the just the B it's hard to protect. You know that their spec they committed two dollars and eighteen cents which is not that big this is that are traditionally a pretty quiet quarter for apple. I'll just that this last buzz about this quarter than any quarter ever member for apple there in between products there's not a whole lot of new things going on. The iPhone unit sales will be interesting to see how they're doing because the estimate is 41 point 79 million. And that could move the stock one way or the other as much as apple likes the downplayed the fact is this is will my phone company. That really keep in my phones longer and longer acting them on. Two and a half years now. More people wore yeah upgrade cycle has definitely been extended. One thing that an apple does have going for and I beat yours we have a guest on talk about the Slater. They are growing their revenues iPhone they're getting. They're getting more money for each iPhone I suspect there's less discount the suckers like me keep buying them well here's the thing. I lost my phone here at the financial exchange my beloved Samsung and you guys pushing those that bless your heart you guys like when all all over the place looking forward. Stay and I I was like so depressed because I love that Samsung phone so anyway I never found it I never found some really you know someone's got to me on my personal information in a bush. I but anyways so I ice and you know I I don't Berkshire and Berkshire owns a lot about what might as well be a good company guide by an iPhone. So so I bought an iPhone the deal was this. You can't really buy it we can bite if you spend like 800 bucks cash they won't do like a monthly payment to purchase they make you lease it. Towards buying it eventually it's 33 bucks a month for eighteen months at which time at the right to buy it for 200 dollars. To make it their moment but I just bought it from. Indeed taken a mortgage or now it's like 12100 bucks which which one did you go to on eight plus eight plus and I'll tell you something. I go to this and I'm a big fan of apple in a lot of ways it's it's an extremely well run company. This feels like I'm lugging around a small like that if you look at it doesn't eat it can really gripped you know what if you look at the ten that's the way yet products. The accidents and acts but us I I think the Samsung is better hardware that is just my own war so light and you go back to Sampson go. I just kind of felt like and needed to give apple TriBeCa and if it's a good phone and in the camera stand test them the pictures are just off the charts nights and I'm like it's a degree of your iPad. Like Avian and iPad and you know all your songs are automatically down totally down to action there clot. The cloud is unbelievable so we it you know apple does have an advantage when your on the iPad yeah. It's it's just sinks everything effortlessly. We had unity you eat that apple concerns yup eight major concerns a FaceBook. Amazon you can do you know rightfully be concerned about their valuation. If technology. Goes to sweeten or ego that we lick where the sectors. That there might be some money you know it's funny you single word technology Micah change that the thing okay because. What I think of technology when you're younger. Companies like Cisco. Companies like Intel Microsoft Microsoft these companies are doing really well they're priced at a very moderate price. And honestly I think if people like a basket of old tech stocks namely to better you'd have a 3% plus dividends and you have a low peak he. And indeed pretty safe place to be. The problem is that. Fame just ran ahead of itself and everybody start to think that while I can protect myself by buying that which has worked the last two years. And these are these are very good companies they've just got to overpriced so. I I could see a situation where we're gonna have a continued rotation yeah. And you know some of these might be dead money for your two what are your thoughts on finding it tells me it's seems to me is I observed that sector. That they are still being punished for the sins of fifteen years. And the valuations. Look attractive interest rates are rising people are borrowing money companies are boring money the economy strong. Typically that's a really good place to be. Financial stocks that are good place to be in that type of environment in sort of a gun they they're not dude there's a lot better lately you know you noticed. I I think it's a couple of issues one is. They had a tremendous run now for a couple of years. The cheap this kind of win away. They're reasonably priced now but I can look at the companies are like it's like pretty good price not compelling. You know there in a position now where they're they're there's are there are regulatory concerns down the pike now. And you know they've had a good run and there's a lot of concern that the the yield curve just hasn't taken on the look that we thought it would meaning. Rates have not gone up to the point where he can you know. Borrow cheap and land. Are excellent spread as minimal rate is you're very that a missile that's been it's been a concern but the good things that they have going for them is there. Their business there at feet businesses rising up the economy is helping them their of their bad loans are almost nonexistent and and they found other ways to make money so I I think that's probably a good place today and industrials was not a place where. Looked and on top of that you have lower taxes these companies are paying 21% corporate rates than 35% that's sinking right to the bottom line. And the good news about this quarter is. Earning so for a 22%. 7% of that is the tax break. So a lot. That's outside but you know I can get repetition that next year nobody erases everything permanently than 7% higher not bad we'll take that. Hate have you ever made a loan to a friend or family member I have you probably have to. Where it talked about what you should do or Ev3 tips as a relates to lending money to friends or family. If you like to participate in our poll question today that is exactly have you ever loaned money to friends or family. You can text us your response at 63566. Or you can participate in our poll by visiting. Financial exchange showed dot com that he ever made alone to a family member or friend. Financial exchange showed a com or 6356. Weeks. Have a question for Varian jock. Now you can text us at 63566. And take part in the show at any time you start your text through keyword battery and join our exclusive club. Days as the financial exchange radio network. If you Google passive protection planning to get more than six million results ice must make sense of all that information. The answer is you shouldn't would you need to do is called Cushing and Dolan the experts and elder law they've written a brand new guide told top misconceptions about Medicaid a remarkable trusts this guy. 8668485699. Many people have concerns about how to access their own money if their kids or their trustees and about paying higher taxes if they want their assets to be unavailable for nursing home costs these are just a few of the myths that Cushing and Dolan reference in their new -- the top misconceptions about Medicaid a remarkable trusts Cushing and Dolan has been helping families like yours for nearly thirty years call for your free guide today at 8668485699. That's 8668485699. You can also downloaded right now on our website and legal exchange showed dye job. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently and believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 862. 1190s that 781. 862. 1190. Or you can visit them online at easy plumbing MA dot com for more information mass master license number 10. 183 again the number is 781. 862119. No. Everybody it's very Armstrong NG to 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. 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 now. And yet to go into the bridge yes sign paperwork in their small dollars and and he turned. 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 and you. 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 form tattered generated in the count number department commission statement all that since the tenant. And the interest descent of 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 manage it 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 hope and 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 disease deposit team it's 7816418691. Or online at Z deposit dot net it helps. Landlords manage their tendon deposits to great concept you might want to learn more about 7816418691. Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you. This is the financial exchange radio network. I was gonna say that we've all made loans to family members and friends that in fact according to a. Hole. 78 point 95% of us have made loans to family members and friends. But according to a study John who's done when he seventeen by Lending Tree. Or twenty point 7%. Of those who borrowed money from or loaned money to eat and we remember. Reported suffering negative consequences what are those consequences. Well side effects included discomfort at holiday parties I can understand that verbal arguments. And in some instances. Irreparable. Harm to your relationship. Loaning money to a friend or family member. You know terribly you but I've done. And large amounts can be particularly. An issue and make those permanent permanent problems. I guess the best advice to think of it as really a gift came in I think if and divert the people's feeling and he he'll think about whatever you land is likely going to be a gift and think about it as a gift. Before you make it and that is if you couldn't afford to lose it. You don't think they deserve to have that much you Mano wanna do it there's going you have to ask yourself to rate if they come to use. For a loyalty here golfing bodies and asking to borrow money. We you know they're coming to use a last resort right exactly what makes a party turned them down. Every U nobody asked their friends for a loan if they have another way of getting that money. Or family may not provide the money either because they know that that person's not a very good bet that type on it you know so yeah there's there's multiple strikes there there raise red flags but you're not gonna get that money back like maybe not even a penny but it's hard to say no. It's hard it's in but I think the fact that someone asks is by definition almost indication of a degree of desperation. It is easier I find it easier to say no to a friend that I do to him. They to a friend you can just say like in fort. You know I don't have cash write drivers your kids who Richard the other ones and always want to borrow money in the lunatic about the dinner the night before yeah go beyond by any bad I know you can afford and don't give me that's that he can afford it I see that pay stubs slip what are to a threat I think he can afford it. But until we had lots of have to put up a but it could lend only what you can easily spare you don't play it anywhere near close that's rule number one. Len with your eyes open understand is a really good chance this is never gonna get paid back and look like a bank make sure your friend can easily afford to pay you back sometimes it's hard determined that. That's why this is not a good place to go it distinction between friends and family. You think I think the same rules apply idea and that is that there's even with here's your kids yeah even more so I think. I think I think kids view it as I look at loans to kids as gifts well then I you know I. You know maybe I get paid back probably. Yeah well I've ever want to light blown out pretty good Obama to a friend and and never got back. And also never from a friend again. So yeah back and bet that's harder for him. Yeah actually hear her could hurt a bit long story tonight nobody usually act how would you. I'd hate to be. That person. Because anytime it sees that you know he. May be certain types of people get way I could every yeah I just feel so awful. Yeah I mean it's it it's that type of thing that you just don't wanna get involved in but if you do like and make darn sure. To begin with you can easily afford to lose that money that's the calculation you have to make. Our text number 63566. If you have a lending. Money story to a family member or friend. Should soon vote 63566. America's housing market is raising. I am a little bit you know we have that GDP report on Friday which is robust a little bit less robust than this month by the expectations of college for 5 PM or in the mid fours are performers. You end up being 4 point 1 evening as the presence at the forefront of its a good numbers don't. Not to say it's about number but the GDP report showed that residential investment. Fell for a third quarter for so we have a lot of engines that are rolling rolling really well here. But seeing is raising some red flags here and it's not just one quarter it's been three out of four quarters. Luxury. Homes and affordable house have been declining for months I think terms of volume of sales as exactly I think there's two different reasons number one singles of luxury homes I think you've been adversely affected. By the salt deduction elimination acts like change killed those it alone two and three million dollar holes five and nobody wants. I know one person personally who sold their house. Earlier than expected him. Ball you know more than a million dollar home because it's like okay. These numbers just don't work anymore because you know you can't basically the doc hardly any of that property tax. In property tax on your home is 20000 dollars reward I New Hampshire the EE you have a luxury home in here treat to be looking at property tax bill 575. Pay about these guys are there to Lakewood office yeah a couple times tickle Governors Island suddenly went to submit lives up there he lives in wolf. But use the property taxes on Governors Island. There's homes and property taxes under house and you know you've been deducted every year and now all of a sudden you get it you can't even in the deck once. And that's the problem so I thinks luxury housing we knew would be hit and has been hit pretty hard. Surprised that here but affordable housing I think outside of New England. That's that's that raises a lot of troubling issues to me to hit the issue I should be doing really well in the economy like this here here's the problem. If he you look at. Student loan that there are four point seven million people who. Are in default. If it had just said I'm pain you know it'll number like 101000 marbles you know is that there's a lot of small debt. If you're in that situation you cannot borrow money you I checked with the mortgage lenders this morning as those doing research for this. And tested. You know it would if you're in default in Houston holds the aces. The only way your loan for any kind of mortgage and feature be heard non conforming any type of mortgage. You have got to be current on your student loans well they're people that have happened need to student loan payment in five years in ten years in twenty years. And they're just saying I'm not paint it well off to Iowa. Eventually. Date not earlier you can be re enter your entire life you're gonna take your Social Security check here when you go to retire there. Four points and I just they can and number it's Tennessee. That's a huge chunk of the buyer is John a lot of lose four point seven young people. And throw on top of that the fact we've had several years of large increases at the lower end on the price tag for went on top of that. You can't get those three and a half percent mortgages anymore fixed rate there now a good deal higher than that so you know as this analysis and this is it's not a points out. The market has crossed and affordability threshold on top of the indicators you mentioned are tech's number 63566. When we come back. We'll have Mike. Give us an update on a couple of stocks looked like Spotify and BP in the news that's next company. Life goes on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the block sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently and believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is called today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. Know if. Our landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC if you're a landlord and are interested in having your bank required -- -- technology tell them the coldest he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net as we get older. Estate planning becomes that much more important hi this is Todd let's ga partner with cursing and all went and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show 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 -- 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 -- silver and gold bullion coins are now available at all -- bank locations bank locally and -- your gold locally that just makes sense of -- -- -- and learn more call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value -- back a step ahead this is a special announcement for all landlords chasing -- only rent payments and making trips to the bank to deposit checks take a hassle out of round date with -- and -- banks all -- rent collection -- zero automatically -- tenant's -- and deposited into your account visit WWW -- he -- dot -- to learn more -- -- rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months -- free for -- landlords visit WWW -- see rent -- 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 don't Berrian jug right here on the financial exchange radio network. And it's time for Wall Street watch nice Green Day on Wall Street right now joining us now is Mike Armstrong and Mike. BP and shop a flyer in the news today. They are so well BP reported earnings. And company quadrupled. There earnings from a year ago so why Europe your earnings quadrupled there's obviously take advantage of the higher oil prices eventually going directly to their bottom line. They're rated dividend by 3%. Person and agreed that dividend or yours. Suck it up yes slightly about one quarter percent on. But mr. BP you know we are talking about this I don't BP in Ontario to two and you know we're worried about that dividend may be being eliminated just a couple of years ago now not only is that evidence safe but there actually raced. Absolutely dead a real concern when oil is down and forty dollar a barrel range about whether or not that was sustainable seems to be at this point. Of course they it made an investment recently in US shale about ten billion dollars and that's. That's good news for investment there's no doubt about that national profile what's what's stores shop for. Yes chopped by big e-commerce company. They've released earnings this morning in action that are corrected during reports in their after they were up in premarket and quickly trended down. Not a great earnings report but the big concern is that they plan on issuing new stock. That looks like it's going to dilute the shareholders. At some point of the next couple of years. They weren't very specific about how much stock are going to be issuing in the timing of that but nonetheless investors not terribly happy stuck it down close to stamp cent about that six point 65% speaker. WTI crude I noticed awful over 2% today. So. That might be one of the reasons why BP is not up more than than it is an apple of course the coming up with the earnings later today let's talk about. Expectations this kind of like mid cycle for them. In Laramie I think there's do. A lot of anticipation around what that iPhone and the results that I found and there's just some general negativity about tech stocks right now but given how different Apple's businesses from most of there B tech competitors you think of and so on Google FaceBook and there. Apple's core business is selling products to consumers telling David advertise there advertise it so. Yeah what should happen. And there really. Yet there there consumer products company now there that they realize it's not the biggest in the world are. Mike Armstrong thanks very much. You know we asked the question of the ever me along to a family member friend and you know vast majority of audiences 77 point 2% talker at least the last count I had and made loans to and still there's a difference. It's excellent seven rights Herat alone befriend the green and at first use quick to make payments it ended up costing me 500 dollars that's when it found out he wasn't as good friend as the another 781. Friend OB 800 dollars and I filed small claims in court. I received in in light to go in the judge joke show I don't know that that. Could recoup some of the appellate Judge Judy that I guess so and good friend paid before the court. I just as the threat of judge Joseph but the like I just think of it. You know I've borrowed money from something I would ever dare not paid by now they're just there's a segment of the population. And give it. But again I don't think you'd be that person be saying you know can have a thousand bucks for me than you know we didn't think about the other side and I know you're saying it's. It doesn't and will fry yeah would would preclude me and you know the guy got the 500 bucks back out of a thousand that's actually you know pretty well feel good that's the that's a return on investment that probably beats most the people who called or wrote him now hate we're we're talking about housing. And you know you needed down payment to buy a house 51020%. Depending on your serve yeah it's. But the banks also wants to know the you have some reserves on top of the down payment how much damage they look at four. About. A a couple of months' payments. Are on your unimportant. A talk about it they like talkers trying to buy a house now let's say he's got. 20000 down payment. And then the monthly payment on his mortgage is going to be another 2000 he's in need before thousand box beyond what he budget. So because they wanna see a little bit of margin of error here behind the safety because they wanna make sure that not every single parent he's going to make that that payment we don't have. You know it happens to lose it and as you buy please so goes right right was last time you bought. A used car or use hold. They didn't have. Immediate need for capital investment and you know what you estimate what you think is gonna cost to live in the house and it's always a little bit more so it's not unreasonable the frustrating thing is is I'm sure taller relate to his. Like you're you're safe and get that 20% if you can't or 10%. And that number just keeps going irony as the prices and housing goes up. Your number goes up so it is saved for years to get accent now it's acts plus 5%. And like your constantly playing this catchup game. In now on top of that port and a couple months texture of liquidity if they want so it's a tough game it's tough to get him. Hey quick announcement on behalf of Armstrong advisory group. According to consumer reports nearly 15. Of available mutual funds have raised their expenses over the last five years. And we've been giving away a guide during the month of July. Related to that. And outside the exit today's July 31 defeated notice. This is the last day where he can call and receive the July god we have a new guide I just recorded the spots for the month of August is about investing in a rising interest rate environment. But if you want if you own a mutual fund. I would encourage you to call my office and receive the July god again. Today is July 31 today is the last day we can call and receive. The July guide about mutual fund expenses and maybe you've got a mutual fund its. You know terrific and not charging you much in the way of expenses Newt Gingrich returns but maybe adult. And those of you who are concerned about your mutual fund returns Audi perjured call here's the phone number. It's 800. 3934001. You'd be calling my office at 800. 3934001. Ask for the guide to today's the last day ask for the guide related to mutual fund expenses. They'll send it out to you and if you have questions they'll be happy you know schedule time with one of our register represented just to explain to you. What the expenses are in the mutual funds that you might half the phone number again last time 803934001. Securities offered to securities America incorporated members Jenrette SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. You know I see this story in reminds me truckers today to a young people don't want construction jobs and that's a problem for the housing market. And to that I say baloney. You know the the we heard the same argument out of the American truckers association yeah and my attitude on this John is. If you have a trucker shortage or if you have a construction worker shortage that means you are not paying these men and women enough money. That may be that's certainly part of it but the other part is there are a lot of people who were showing interest in the first place in pursuing these and has careers. One thing that was so denied I didn't realize this but. Many high schools in the last recession when they have to cut back and make reductions. One of the first things a lot of high schools does that cut the occasional training you know they thought well this is an essential you know it's not part of our core curriculum. To mistake as it's turned out to be huge mistake and I think the high schools now realize that. Only now are we saying hey. We may wanna rethink. The way in which we approach a lot of this we may want to incorporate a lot more vocational education because that's where the opportunities are. In those are jobs a lot of these. You know a lot of jobs can be offshore with the talking about. Financial jobs. CEO Paul service. Lot of jobs are being replaced by iRobot robots yet. When you're talking about plumbers and electricians. Masons. Carpenters. I don't think they're getting replaced by robots Thompson no question about that these are good paying jobs that are safe. That you can get in your own back yard not a lot of times are a lot of times they're unions he got all kinds of perks with that. A lot of times they do not require higher education. Degrees so the there's no question the labor shortage though has been exacerbated. By young people who simply don't want dirty jobs put up tight and that that's a real thing we have to overcome. Now the egg I think what happens these what I've observed in you may have seen the same thing as a kid pretty go to high school. And your buddy's father is a Mason. Right will be makes it's hard job on him right in and you need a 65 girl makes a lot times you back hurts hip problems you know from same thing with type theaters electricians plumbers right if you're in the trades. Often times your body. Gives out before you would like to from a career standpoint no question vote and make a lot of those guys if your plumber you're saying why one should be worked in his home. I want my kid to be an attorney doctor lawyer you know like that. I I. That's what I saw as a kit. I think now maybe the pendulum is switching you're somebody's that a lawyer in this in this job Sox. Yeah I mean I I could have been better off and running you know what are welcome but that pendulum has been very late swinging back if it is swinging back at all and we needed to swing back. Because this is where the jobs are this is where the safe jobs are. This is where the jobs as you said it will not be replaced by artificial intelligence robotics in great place to be self employed. The tremendous place right here it is your pick your own hours contractor Darryl carpenter electrician. You go in you name your price try to get worked out you break it. You try to get somebody put new windows in your house play you're gonna pay for. And you know what those people are due to an hour and a half long now commutes to work and they're finding places within its five miles or six miles of where they live to heed area charges lenient and they're charging a premium and they're getting a god bless the Internet to occasionally. Bigots each day ten years ago it was pretty tough on those absolutely. And that and that's when a lot of the vocational training unfortunately and was eliminated met this is where we stand right now. In need of labor construction jobs. Up next will be joined by. Join our brand new tax club by texting the word ferry it's a 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Hi this is very 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 streamlined 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 Tenet's disk called the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit. Dot net member FDIC leader bank step ahead. Getting up before the sunrise definitely makes you a morning person you identify problems and you get a head start on salt and hi this is very arm strong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment peace among others they can have a negative effect on your portfolio let my firm help you make sense of these bees by requesting our free guide it's called the hidden cost of mutual funds call 803934. Zeros or one to get your copy today at 803934001. Or download it right now. At Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated hybrid. Buddy it's very Armstrong and I'm joined by estate planning attorney Todd Lipsky. From the law firm of Cushing in dole and for your legal exchange quick tip of the day we're talking about Medicaid. Irrevocable trusts Todd. And one of the concerns that I hear from listeners is that. People are afraid of giving up control to their trust the when they use these herbal global trust. Is that in fact valid concern. It is not a valid concern but that's not a good enough answer let me help you understand why. It's not. First and foremost. Their concern is that way because they're not serving as trustee right and they can't if they want the protection. From the nursing however took things they need to remember one. During their life. 95%. Of the things that need to be done with that trust. Will be done by them so they can still make the investment decisions talked to the financial advisors to make the investment decisions our house yeah so. So all of this stuff can be done by them. There's only about 5% of the time that we need a lawyer. Earth that not a lawyer the trustee to do anything is a trustee opt in one of the children idiots it is and so that's another good point that it normally it's a child. And the last that that number two reason you don't have to worry is they retain the right to remove and replace the trustee anytime they want. So they're really still what the boss that's nice folks if he'd like to learn more about the top misconceptions. Regarding Medicaid durable global trusts. Call Cushing in Dolan to hold free at 866. 8485699. If you want that guy right now he simply go to their website which is. Legal exchange showed dot com legal exchange showed dot com or call them at all three. 866. 8485699. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles the most. Days who's the financial exchange radio network. This segment of the financial exchanges brought you in part by. Forming the only plumbing company you'll ever need to handle all of your plumbing and heating jobs. Contact easy plumbing today at 7818621190. Certainly a lot of talk about liquefied natural gas is a key part of the energy solution. Are there investor bull LNG IP is Jay immense Meyer is with seeking alpha Jay thanks for joining us. If they aren't aren't going to be here a great Qinghua a couple of ideas of big player is he KL NG partners. Are you concerned though about the trade war possibilities there and the implications of that. You know I'm glad you brought about on number mostly though unsure about my belt and you know kind of a rough summer right yeah and great work and earn. But pro India will Butler story edit them all Idec is and I were plan. Now that they had to keep it after the world whether or not United States and China in order such great issues are great batter trade war college. Audio and each report in there you know president was just over Europe and daily Il elegy. And it the commodity products right now I really doubt an act now they and their best interest if they put a terror plot but I doubt there's became more money or. Now the united it will ship it out of Europe for over Q8. Or a mother or electric. There's no right now in I don't viewed at the major concern audit I'd rather have. In order are at war. But it is not but in practice. Yet you see strong growth at least through 20/20. And you say that this company may be undervalued is that partly because of these concerns about trade wars that. May or may not manifest. You know I think the knicks are ready to be look at brought back to our they've all had a pretty rough you know the cycle there all that detail on orders. The art work right the government help you spot and I'll be talking as you probably know all are well. You know investors use these giant did it in your pocket 70%. Are we on the ample. And educated irresponsible thing a couple of years ago they cut their dividend and all of their internal capital under our. At that it happened dilute the equity there it is there is awful things but they're being punished for it. I has broken bond they shared accurate or are we distribution increased it. Were you clear out wait even more. Compact with what is distribution. There's another. There right now that the beast you only work in order onsite at the expense the year you add up to cover ratio of or are. There he normally when you look at elk you know you are or are in what went one you want by. I knew he did it take it over or arm and it's growing at 28 I project so I can only we're real respect our. They could raise that a lot that's a very eager good coverage ratio. Absolutely not that near term are gonna are are out that there will be smaller. But by 20/20 eat a bowl oh of the current gold LNG has been a big winner use all that then bought it back. You like this for several reasons right. There's still that of oil and eat a little bit or they don't you transportation there and actually walk on both upstream and sort of important they'll be important though is. I actually read out the vital part of the current anti you know wrecked out or power plants are Bloomberg. Out. It's for the upstream they'd be a partner with major oil companies to develop audio. These are state of the art there's only three of them in the world and one of them don't buy goal. Others about rear ore production pipeline in the world and out of desperate for all the water are. There you're you really think actual the India story than expected uncle are the most exciting way negate Morgan income stock or Eddie Moore transportation. I bought a lot more about it. What's your what's your favorite aspect of this business how how would you most like to play it. Super Bowl are. Date yet for that make that differentiated it is like that one of the only players all voting and work speck in and we're expected and big gap Arnold that this is the law between late when he needed it when he. And I expect people are involved in the project. I if we like betrayed a minute. We bought them last year in the upper twenties we Altman and at thirty. And our buyback in the upper and that one. How might their right artist but at oak yours forty dollars and I think the Oxford. Which is a popular if you. That's impressive is it fair to say if there's a little bit a trade war worry built into these stocks that we. Maybe I get a cooling the some of the issues or surrounding trade war worries that these things could rally just on that. You know I think that I am that I think you know once you stocks or eat up pretty fairly I went idiot you'd still in but I I think they're equity that the fact that a little bit better. What's your favorite thing. There paper to the security the war on eagle citing you dale and he would if it were intimate. I've done it are defected earning them personally I think you like utility partners if you're Morgan equity broke and got prep it you like or. Something for everyone. Thanks will mention that the market is rallying modestly today. But there are rumors that China. Has come to the United States and said we want to read negotiator tree that's great news if we get progress on this and those trade war fears dissipate. You could CA rip roaring rally is no doubt about that in I anticipate he is Europe's article under the table yup Mexico's come to the table. Canada reaction to trade surplus with campus I don't know that we wanted to do too much there. But if they work this out with China. That would be cute and and I think they do it by labored. I would think they do it certainly by Election Day could put I think we have to do it's an identity like. If if you're the president you as you are saying to them look it's Labor Day underscore yeah like if I'm president trot on saint you have. Thirty days to get at a town. Work or hit the bricks and on and on and attacks every. Everything you own ship in in this is already hit the Chinese economy will kill them later and it's is already been negative impacts. They're feeling at their stock and beyond that there's a lot has gotten hammered well that's the only true indicator yes thought the Chinese stock markets down 25%. And you look at the underlying data it doesn't look that bad but they why. But there underline if they didn't like about this that getting hammered it out in our markets way up this month now this there you go that tells me even if we're we're gonna win this trade war. And that's gonna help a lot of Americans Dow right now is up a 106 points NASDAQ up twenty. Russell's seven in the S&P is up ten points. But try to get your price on oil before we go out boils down a dollar fifty per barrel 6055. It's John and very from the financial exchange will be right back. 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 co lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender. And MLS number 449250. Subject to credit approval leader bank a step ahead. According to consumer reports nearly 15 of available mutual funds have raised their expenses over the past five years a mutual fund with higher expenses doesn't mean you'll get a higher return Armstrong advisory group has written a free guide to help you understand these trees some call 803934. Doesn't wanna get yours today call 803934001. Or downloaded right now and Armstrong advisory dot com securities -- which -- securities America incorporated an advisory services are registered as America advisors incorporated member can recipes he Barry Armstrong represented a strong advisory group the securities America companies are unaffiliated. As we get older estate planning becomes that much more important hi this is Todd let's ga partner with Cushing and Dolan and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control act Cushing and Dolan we've been helping families like yours for more than thirty years what their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks 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 tell them the cold as he ran team at 781 at 6418691. That's 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 781641869178164. And specifically the costs of all morning different kinds of mutual funds Mike. Let's first talk about the differences between load in no load funds what to those terms actually mean. Yes when you talk about a load you're talking about compensating somewhat for the sale of that mutual fund. There are a lot of different options when it comes to these but. Typically the most common is just an upfront load that you and paint the advisors so if you put 101000 dollars and to a mutual fund that. Mutual fund may charge you 45%. Bank and gets paid to the eyes. In a no load fund you don't necessarily have that upfront fee but you still do not operating expenses each year just because the fund has to pay its employees and so forced you do it Syria let's say just go to fidelity dot com and pick up one of their mutual funds. You might not be compensating. And advisor sales person for recommending that fond of but fidelity has their expenses that they are running in the air still charging new it's all detailed and expense ratio that you every year what is a typical expense ratio on a mutual fund these days you know I would really hesitate to give a typical because it varies so much emergency funds as low as. Three basis points all the way up to wave over 1% so there is a huge range of mutual fund expenses. As Mike said there's a lot to know about mutual fund expenses and what you are actually paying it fortunately the Armstrong advisory group has put together a great new guide called hidden cost of mutual funds. All you have to do to get it is call 800. 393. 4001. Or go to Armstrong advisory dot com once again that number 80393. 4001. Armstrong advisory dot com. Securities offered to securities America incorporated members Jenrette 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 buyer 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 god guaranteed by the bank and may go down in value leader back. A step ahead getting up before the sun rise definitely makes you a morning person you identify problems and you get a head start unsalted them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on your portfolio let my firm help you make sense of these fees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today that's 803934001. Or download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SAP C and advisory services are for through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America's companies are unaffiliated. Time for bank the pays you with liter maximum reward accounts can 1% cash back with a debit purchases and an extra 10% back when you use your card 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 earned 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 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 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 the -- -- called 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 a step ahead. This is the financial exchange with the very Armstrong in chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and today about economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. The markets are rallying today on rumors that China office. They want to renegotiate their trade deals is that interest and we'll talk about that. We're also talked about last Moonves. I'm kind of surprised the way this is going but we've got an expert on this media sector he's gonna join us and talk to us about it and then. Doctors are going to be talking about our retirement lending money to your family members but busy show this he got busy hour for a it's just John Moody joins me today by the way and John let's talk about let's move this I I was shocked that. He still won't work today. I was too I really thought this would end up in Les Moonves being put on paid leave pending the investigation. Their brilliance you know outside investigators look into this a situation that CBS. The other guy who broke the story about Harvey Weinstein. Did an eight month long investigation where he talked to six women. Who had direct claims of sexual abuse. If not borderline sexual assault. And dozens of all the dozens of other people who complained about. Inappropriate behavior and how many complaints as London's. That happened doesn't let your city and in this case he documented six people ran it and Weinstein or once does it was many many people yet and yuck I am not sure this is quite to the extent. The act accusations of what we heard department wants you to sum it sounds pretty that's not a solid sounds arguably worse that he held this woman. Yeah tender down. I mean that's that's that's called break. Yeah again. You know I I. I think we have an issue of due process here then and you know I I I think that even in cases like this. We shouldn't you know throw the person out and then just you know sit with your accused of this. But the position capture red stones fingerprints on yup that's the that was my first initial thoughts like wal okay nice to this is that this is dirty hard ball. It was a battle just say you know between CBS and Viacom once they won company. They split up the red stones were from you know broad line of Boston. You know local people. You know Sumner. Got to be very old in. Was during his daughter took over his dollar took over he was incapable of running it based on his you know his health care or lose it's his mental state at the time. It's a right now is a battle between CBS and Viacom and you know sharing his daughter. Would like for CBS to purchase Viacom for them to merge it to be what they were before. CBS is on really well when their old thing Q&A lot of it is due to Les Moonves. And an outstanding job he's done running that network and I just think his thinking is we don't need Viacom. The poor child what we were going well but so the feeling was that. Maybe Sherri went Bristol may have orchestrated this to. Take pitched a stab at the one person who standing up against the merger but and we have no reason no substantiation. To that. All we hear that's just speculation. And I don't buy it I thought that initially did you and the reason why I don't think it's the case and has the timing is unbelievable. Is that the guy who wrote this article then has been working on for eight months. In an interview literally dozens of people. More importantly got people to go on the record using their name. With specific accusations. That's pretty strong stuff especially given the fact that this the same person who wrote the story on Harvey Weinstein. This guy is that credibility he does eight the other thing you should be aware of folks is Les Moonves draws an annual pay package. A 69 point three million dollars. And if he is fired or leaves the company. Without the board finding him at fault. He. Gets a 184 million dollar exit so I think it if I'm CBS I think what they're doing is saying here okay. There's an accusation been made. We are we we're going to investigated so we can get out from underneath this 104 million dollars. Pain I think that that's a legitimate point to be made I mean that's what would you got to hear this not connect yeah if that's your money. I mean are you saying hold on it and here 184 million dollars even if you're a multibillion dollar media company that's Roman. Exactly and you know they've handled other people like Charlie Rose. A little more forcibly if it's small potatoes compared comparatively Matt our small you know not arsenic in the bucks. That's true well if you look at other growth was even make that much right ands. The well but this also they also in fairness to we should Wear them they were both on the year. So and that's a pretty big deal you are now seen by everybody representing your company. In a very very visible way obviously on air last Moonves while we all know he's one of most powerful people and all of broadcasting. In all the media the fact is most people know who he has a lot of people speculating if he's old. Nike it could be. If not if unless Moonves and I'm guilty I'm not saying yes but if I'm guilty. I'm gonna do it Friday night news. And saying I decided to retain sixty easel. Are correct right you gotta go he's done you gotta go that's just the era were in it I probably all you should have been that way but the fact is. If he is guilty in any of these he's done Friday news dump. Yeah always pay attention the news comes out after 4 o'clock on Friday. Especially in the summer and including from what the White House and elected officials there's only a is a very big stories that they don't want to know that come out late. Tell me it ain't so doctors' payments. Increased. Drug prescribing by 73%. This is related to. A drug near and dear to our hearts cholesterol medication. Yeah and in which case you know there's there's a 500 dollar a month option and there's a two dollar a month option enable work about as well. But yet the 500 dollar month option is often recommend. I don't know what you vary but I never felt comfortable this whole cozy relationship. Between drug company representatives and doctors in you know I was to deal worst. I know I worked in the media and some of my colleagues went to work drug companies. And they were paid a wad of money and they are always good looking women were heck. Our good look at med one of the other ya see you look at a drug salesman for Pfizer. Yeah crest any of these drug companies. They're like models I think I. I'd take a meeting here. And they have lunches and dinners and you find out about all this other stuff which is legal. But to me is almost like well he did the statistics. Bear it out to seven even as the 73%. Increase in prescribing. Drugs yeah that where you've been taken out to dinner so that this sexy. Drug sales person from Pfizer yup male or female and take you out to a nice dinner at Morton's right yet MEI exactly for that right side winds today dying view if god tot tell you how great you are out in an Alice takes up the tab the your you're 73 you you're increasing your prescriptions of their drug by 73% in there may be that by being that. I I talked to doctors and they denied refuse they think if you talk to a doctor and I've got. Doctors are clients and I've asked them I brought it up. I don't know we would never did it's that's the line up they were doesn't happen OK I. I have a Stan. And you know I was taking Lipitor and Lipitor cost a fortune Lipitor even makes their own generic right now which also cost a fortune which is unbelievable. But there's a lot of old pushed buttons that you can do we get on any cheap health care plan but like. A book a month. I mean it's literally that cheap some legal drugs and there earlier when I took the one of the old drugs in my numbers went down beautifully. And work wonderful. But where were in particular problem is when you have to be taking a brand name drug move and there were two or three different brand name drugs. Then now was that we don't of the conflict so do we do the Bristol-Myers drug or do we do the Pfizer drug. The Fries or woman took me out that there was really nice and the prices are about the same thing. Causing any. Me. In any getting hurt ranked Justine insurance. Had literally getting hurt but you know we're we're just what really bothers me though is in this is really effective. Is the drug companies now realize if they take their case directly to consumer. They can make the consumer domain and be expensive drug assuming the insurance companies paying for that that's what you see all these ads for drug companies on drugs on the air because the consumers is so this is beautiful and I wanna be just like that person. They make the doctor prescribed. 76 for a percent of our listeners have loaned money to a friend or family member. And study that was done by Lending Tree in 2017 says that. Almost a third 28 point 7%. Of those who borrowed money from or loaned money to a family member. Reported suffering negative consequences side effects included discomfort at holiday gatherings I would think so yeah verbal arguments I would excel. And in some instances irreparable harm to your relationship. Well our question our poll question is have you ever loaned money to friends or family member. So far 76% of our listeners have you can participate in our poll by going to financial exchange showed dot com. If you have a horror story that you would care to share. You can text us that story or text number 63566. Notre like if you could if people could share the payback they got like the guy who told with the par five a thousand deaths and got 500 back in our particular scene of people have stories of Bart you know let them 500 bucks I got twenty bucks now I know I'd be curious what the payback is enough now. 63566. If you haven't text of the show before make sure you put my first name at the beginning of your text message my first name is Barry BA RR. Why would we come back. Take a peek. At how it Apple Stock the year Reid reporting earnings today after the closing bell will be joined by mark government. From Bloomberg to discuss Apple's earnings preview that's next Anthony to exchange. Tony this very good charts graphs and numbers all day and just listen to us there's the financial exchange with Barry Armstrong and chuck sun up on the financial exchange radio network it. According to consumer reports nearly 15. Of all available mutual funds have raised their expenses over the last five years hi this is very Armstrong do you know what -- paying for your mutual funds and understand the difference between ongoing yearly fees and transaction fees the costs of mutual funds eating into your returns which is one reason why some funds end up with sub par performance you may own funds that have higher expenses but that doesn't mean you'll get a higher return the Armstrong advisory group has written a free guide called hidden costs of mutual funds to help you make sense of these fees so call now 803934001. And get your copy today understand the true cost of your investments don't get surprised by hidden please call 803934001. Or download the guide right now at Armstrong advisory dot. Come security's effort to secure his American corporate members in SIPC advisory services with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and our companies are unaffiliated. If you're landlord looking to find an easier way to collect rent payment and you need to hear about leader bank's own line rent collection product called zebra and it's a great service landlord allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the use local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology to Obama called this he ran team at 7816418691. That's 7816418691. Or visit C Rand dot net stop chasing down late payments and running the bank to make your deposits at your bank UNC were to its list of offerings. This since he Rand dot net or call 7816. Or 18691. For more information that 7816418691716418691. Or zero rent dot net as we get older. The state plane becomes that much more important hi this is Todd let's ga partner with cursing and Dolan and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away and you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their estate planning needs we've got a new guide out this month called. The top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy coming in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices cult easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. Each six to 1190 that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. We wanna hear from. Thanks Steward diaries 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Is John Mooney along with various anti terror into America's most profit. People company is reporting earnings today all eyes right now are on apple. Mark Germond from Bloomberg joins us mark thanks for joining us. Mark I don't remember less buzz surrounding an apple earnings report this one what's your take. Yeah that very funny and it's absolutely right this is their boring recorder noticed beat great holiday quarter. You want to prosecute to the purse all or order a new light bill. As of the Q for the quarter where they typically released in like bound to look sort of like junior year I clerk call. Sort of stuck in the middle there you're not graduating and you'd just start yeah sort of at the end of the road here so that's why it's particularly. Boring with camera. But yet people are keeping a very close eye on iPhone sales levels of sales volumes. And a social this year I hear a buzz that they're getting a lot more per iPhone in revenues that is what you're hearing took. Bright and so despite all of that despite being a foreign court of the largest company in the world of people think they both look at. Poppy I thought I was doing ourselves in a boat down ahead of new model expected number. The eight point two. They have more supply and further getting an interest. In terms of it's your point about iPhone pricing aboriginal rights. That's important to their revenues analyst predictions we've been around 690 dollars which would be about 8085 dollars more than a year ago quarter but its loans. Yet which could respect when revenues in fifteen and 18%. By your appear. And again that's because they're getting more money for reach phone that's very impressive services revenue has been a great story for them it's been growing rapidly. But you know it's always been such a small part of this humongous company. Is service revenue finally going to the point or it's gonna be able to move the needle for apple. Yeah absolutely it's thirty becoming be expecting big its revenue leader for the company. Were just debating between 25 and 30% 32% your peer group reservist does. And what's really interesting about and I guess the very good parent rap or they haven't really done anything new human services that a number of years. This is just about more more people using their distance services. So imagine what happened and charting new services but that time I outlook like the revenue up there. You know we talk about this being one of the things stocks it seems very on fang in terms of its characteristics is telling it. Fourteen times next year's earnings which makes it almost the just a cheap generic stock. Is this a value stock is opposed to a fast growing things stock. Apple Valley stop it. You know I think they've been about it are numbered years because they've been picking it is when they're done they've been sick so but if if if the past several years but really isn't anything new. And not think they barely. Expired and then it's just more of the same which is the editing. To investors. And it it perhaps speed that they're getting the money up. In the debate that and it's growing and growing and growing. Even occur at this point that on the iPhone side. To learn about it expecting it but it happening but maybe Netflix be in Amazon but apple that tried and true method in their their perspective somewhat there. Mark something I think is possibly a game changer assisting called the that would be I believe in the next generation all of the iphone's. This could really move the balance of power from Mattel coms to the hardware manufacturers jury. You know if it does come out and it in that respect. Possibly I don't think that the point B indicate that there is an electric then it would be you'll then that the situation could be an additional cart. But no I don't think that it would really it would be stepping down. That patent and apparently in the cares but I don't think the people replacement. I didn't carrier at this point. This final questions for firfer company earning sixty billion dollars and in selling at this price earnings ratio. I won't have the appeal to someone like Buffett is that it doesn't even have to grow if they just keep making sixty billion dollars a year. And buying back 35 billion dollar in stock and paying out a dividend they can keep increasing the stock is gonna do pretty well. Right and that's only exciting to investors and get that booths that are. But there's really nothing wrong with that. So the idea apple might be more exciting to those who are investors rather those buying the phones which. Which I think describes apple just perfectly. That's funny. Good if that's been brought the stock that keeps on giving. You know the growth slowing it not dipping and look we needed other stocks and it borrowing and following him following. Apple's been pretty consistent at a very very high peak epic power without. Absolutely mark Herman from Bloomberg thank you very much for your input appreciate it. Thank you. 75 point 7%. Of our listeners have loaned money to friends or family. In I got a good text message from six three and says rule number one only loan money that you don't need a great. Totally that we said that at the top you know considered a gift because that's probably would have been a breakthrough. And based on the feedback it's almost confirm via surgery at a at a weekly trivia every day here on the financial exchange. And to participating treaty just have to text that's the correct answer to the following question are tech's number. It 63566. If you're nude trivia or new to the program. Lead is my first name at the beginning of your text message that's the my first name is Barry BA RY. And then you give us the answer to trivia question who knows human when prize trivia is sponsored by Arnold's restaurant in east ham Massachusetts. Arnold Schwarzenegger. Turned 71 years old this that's hard why 71. Arnold Arnold at 71 or socially. We're asking trivia questions about Arnold Schwarzenegger. In what country was Arnold Schwarzenegger. Born to question. I'll be back. This anyway you know the answer to that question 63566. Is our text number 63566. In order to participate in trivia and listener number eleven with the correct answer to help those who are listening on the stream listener number eleven. Will be the winner of of our prize today what. Country was Arnold Schwarzenegger born I remember he was married on Cape Cod to Maria Shriver. No longer are no longer intervals Kate listeners will remember. When aren't hitting him where they got married that the church that the Kennedys go to and I am sport. And one of our viewers culturally as though I should know this are a bunch of times but yet it was a great big ceremony and worked on the cape and television we covered it definitely had the biggest story of the year in the Arnold Arnold comes at the cape could. The Chinese economy is starting to feel the impacts of tariffs and that's actually what the stock market rally. Yeah there's no question about that and it is going right now. Soft numbers are coming out of China manufacturing purchasing managers index. Fell to a five month low all isn't that too Brad. Off to 51 point two down from 51 point five and that's a big deal over there it's a real big deal there are manufacturing economy. They're like we will be sixty years ago. Yep and if they're not make it's that there are there people are not work and this is where they make their money they want to transition to more for consumer oriented society but that they're getting hit or hurts right now no doubt about that the numbers confirm and it's good for us because it means they're gonna come to the table and renegotiate its trade deals it has been pretty effusive toward two states coming up we're gonna take a look at your pulse. The financial exchange is 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. As we get older state plane becomes that much more important Titus is Todd let's ga partner with cursing and Dolan. And if you have loved ones or friends that may need nursing home care you need to protect your selves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control act Cushing and Dolan we've been helping families like yours for more than thirty years with their estate planning needs we've got a new guide out this month called. The top misconceptions about Medicaid irrevocable trust this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Getting up before the sunrise definitely makes you a morning person you identify problems and you get a head start on salt let them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment peace among others they can have a negative effect on your portfolio let my firm help you make sense of these bees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today at 803934001. Or download it right now. At Armstrong advisory dot com. Securities offering to securities America incorporated and members SpinRite SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Are you having problems the blocked sink or drain. What leaking Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing and their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or he can visit them on line at easy pull me MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Hi this is chuck and Mike from the financial exchange and today we're talking about the hidden costs of mutual funds. And Michael Lotta times people look at the sales load they Payer they look at the expense ratio on a fund. But they don't realize there are other expenses built into on what kind of expenses do we see in addition to the ones people note well. The biggest one that usually gets left out is something around the trading costs of mutual funds. And a few years ago the SEC pretty much came out and told the mutual fund companies that. Because these costs are so complicated. To calculate. They are not action required to disclose them in the operating expenses so if you look at a fund that trades a lot. And by that I mean turning over the portfolio maybe a hundred or 200% a year. Those costs can be significant. Are there any types of funds that typically have lower turn over rates that don't trade is much so that he can get a better deal absolutely I mean when you look at basics of trading how much 100 vs another. Usually an index fund trades a lot less than actively managed mutual funds are for instance you can buy an index fund. That just replicate the S&P 500 that's gonna have a lot less turnover than an actively manage large cap mutual fund in case. Folks beyond just the headline numbers there are other expenses associated with owning mutual funds. And they are strong advisory group has put together a guy on these expenses. Titled hidden cost of mutual funds all you have to do to get it is call 800. 393. 4001. Or you can go to Armstrong advisory dot com once again the title is the hidden costs of mutual funds in you can get it by calling 800. 3934001. Are going to Armstrong advisory dot com. Securities offered to securities America incorporated member SpinRite SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Marion Jones no finances and if you care about your finances it's good for you know Barrington shot. Believe me here for the financial exchange on the financial exchange revealing them work. But knowing that Arnold Schwarzenegger. Turns 71 years old this week makes me feel old. When my young co workers since that vote you should just view you are at that that's. At any rate. Arnold Schwarzenegger was born on July 30 1947. In all Austria. And Glen from last I'm New Hampshire nailed it congratulations Glenn. The trivia contest brought to you by Arnold's lobster and clam bar located in US routes six and Easter ham Massachusetts. The relief ships Suzy has won the Cape Cod stuff Clinton contest for the third year Guerrero. Get down to Arnold's check out their great food for yourself call 508255. 2575. Or visit them on wounded Arnold's a restaurant dot com for more information. Hey it is July 31. Which means it's the last day of the month and is the last opportunity you path. To receive Cushing and old guide regarding Medicaid. Irrevocable trust it's misconceptions about these trusts were joined by the author of that guide his name is Todd what's key from the law firm of Cushing handle attorneys also the co host of the legal exchange radio program that airs on the station. On the weekends I taught our. I'm very well thank you are you guys. Good so tied it's it would woody is. Date what are the top two or three misconceptions. Regarding Medicaid. Irrevocable trusts. I know I think that first one is the biggest as one would give the house and everybody wants to protect their home. You put doubled in the truck and make it what do I want to most of Florida and New Hampshire or wherever I myself yeah. You can sell it. And when you sell it you also don't have any adverse income tax consequences right away they say oh my goodness and they're gonna be a large capital gains tax. It will be no different than it was not in the trust which means. You can still use your 500000. Dollar capital gains tax exclusion yeah when selling your house from the truck so. No adverse consequences. And you can use that money can buy another house in whatever state you're moving too with outreach starting at five year waiting period. Why do CPAs had such trouble with this IE eight because every marcher April. I know you get calls from an accountant saying why don't you put my clients. House into an irrevocable trust you caused all kinds of tax problems. Yeah you are so right area I don't wanna take a vacation every market thank you get almost cult and and that it simply because. It is true that you're vocal track can have higher tax rate. It's not this one though can I meet either grant or truck but the real problem for the accountant is. There's nowhere in the truck that says can look right here at the grand tour trot out until the aircraft that make it a grand Turk trust and once I tellem. They're like well that's great thank you very much and we hang up. Look at that every spring it happens right now all the new clients all the new people that created a trust they get the get the call from their counts. Panic. What Todd thank you very much for joining us we appreciate it. Folks those Todd lots beef from the law firm of Cushing in Dolan and I will tell you this on behalf of Todd. He creates these guides they're available for the month today's July 31 so it's the last day where he could call. And get the July guide cold misconceptions. About estate planning. And I'll give you the phone number you might wanna rated down it is 866. 8485699. If you call that number to say hey. I wanna get in before the first of August which is to market please be honest more. But it any rate call Cushing handle an 88668485699. Request the guide now if you don't wanna make the call if you're that lazy you can go to the website which is legal exchange showed dot com. And you can download the guide immediately and it's not a sleazy maybe one right now you wanna wait until it gets me LT visited. I'd take three days to get their enemy. Yeah it's honest it's not as quick as Amazon still. It's now it is not a script is as and is if you have him with them through and actually had Postal Service does a pretty good traders any phone number one last time and the eve day website address one last time. Write them down 8668485699. Or legal exchange show dot com. So to toll beckons people sick again yeah. This the stock is off 3%. After closing a restaurant over reports of customer illnesses. It was a restaurant. One of its restaurants in Powell Ohio on Monday even after several reports of customers becoming ill. At least nine people laces suffer from symptoms including nausea and fever after eating at the restaurant or give us those things where they're kind of marked. You know if this happened at one restaurant. From another chain. We try would you be hearing about it I mean dagger just thinks so it it's it's kind of piling on I suppose to poll he's really turned things around the stock is doing very well. And it looks like they've gotten a lot of their business back but you know what that's still my favorite place to people that I I really like the flavor of the food and those there and I just. It's it's pretty healthy if you want to be in LA if you don't if you cut out the rights to cut out the torch here. If the line the tortilla. And burrito. But credible believable that promise they get the ball that I get two bags chip. Yeah edit Tyson goes right counter productive outs or so but chipotle is doing a lot better it's it. Feels like they've come up with this scandal behind them gold illness issue. The problem is they still are identified with a through every time as one restaurant like this one in Powell Ohio you're gonna hear about it and and the stock is gonna suffer. You know we asked the question about lending money to friends at 978 runs are right. Lending money to a friend is a bad idea. I did this in while they eventually got paid back it took a lot longer than expected and the friendship is no longer that's see that's that's a losing situation. And he got the money back and it's still was not good you know it is if you have to ask for the money you know it's. If it's uneasy and it it leaves a bad taste is no question about that that's that's when it that's when you get your money back. The add another question from 508. I don't know a whole lot about finance unmasking a question on whether it should take my dividends as cash. Or let them roll over into more stocks a buyback stock buyback. I don't know that there's a carte Blanche to answer any or situations little different views would you do. I reinvested dividends you do and you know but that is there is definitely no one answer. If you're relying at what's your logic for re investing news I just love the idea of compounding growth through it through dividends one you know we talked about as you look at your account and you look at the income generates. And you look at trying to grow that income. The beautiful thing about dividend stocks is they keep increasing the dividend so you think about what Stevie getting stalk the pace. 200 dollars a year dividend yeah next year pays 210. The next year pays 220 if you re investing at EUB reinvesting those dividends. Reporting on steroids you're growing that income suggesting eventually I understand and I appreciate your logic but I take mining cash to pay because I wanna diversify. Okay yeah if you see out all of what I'll do with my dividends rated the by two different stocks have paid dividends. And I'll accumulate that cash and then I'll use that cash to buy stock that I don't ordeal I agree with you but he can be re word that I think for individual stock. I I like the idea what I'm doing is we dividend DT yes there's a viewer a basket of yeah a hundred companies and that plays on a blended hundred dollars. Then you're reinvesting in that basket over and over your compounding that growth. Exponentially. John and I in the next segment are going to issue an apology. To talkers generation. We have really screwed the future. And we will apologize to you talker is it in you'll appreciate the apology if you're over the not accept it. If you're over the age 55. You all millennial it's an apology and we'll explain why when we return to the financial exchange. It's Marian Cilic in the financial exchange on the financial exchange radio network if you Google passive protection planning the get more than six million results priceless to make sense of all that information. The answer is you shouldn't what you need to do is talk Cushing and Dolan the experts and elder law they've written a brand new guide told top misconceptions about Medicaid -- applicable trusts this guy. 8668485699. Many people have concerns about how to access their own money if their kids or their trustees and about paying higher taxes if they want their -- to be unavailable for nursing home costs these are just a few of the myths that Cushing and Dolan reference in their new guide the top misconceptions about Medicaid irrevocable trusts Cushing and Dolan has been helping families like yours for nearly thirty years call for your free guide today at 8668485699. That's 8668485699. You can also downloaded right now on our website and legal exchange showed dot com. Hi this is very Armstrong and if your 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 will even send out annual interest payments directly to -- -- this call the Z deposit team to get started at 78164186. And 91 that's 7816. Or 18691. Or visit them on line and Z deposit. Dot net member FDIC leader bank step ahead. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy combing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy calming at 781. 862. 1190 that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Time for -- -- -- June -- liter maximum -- accounts -- 1% cash back -- debit purchases and an extra 10% back when -- user -- -- businesses qualify these and other awards using -- direct deposit 1000 dollars and make a debit transactions each month to learn -- call 8776917. -- 900 or -- -- bank dot com -- to open -- -- annual percentage -- ten dollar mass residents only he's been reduced -- -- subject to change without -- member FDIC -- -- a step ahead whether you're celebrating a milestone -- diversifying your portfolio precious metals are Smart meaningful investment one -- and 110 ounce silver and gold bullion coins are now available at -- -- bank location -- locally and -- -- -- -- it just makes sense -- -- bank a call and learn -- call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value -- back a step ahead. Security suffered through securities America income member finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. What's hot and what's trending. The world of finance and go from Barry Armstrong and chuck saga on the financial exchange radio network. This segment of the financial exchanges brought to you by leader bank if you're looking to diversify your portfolio. Precious metals are Smart investment. Gold and silver bullion coins are now available at all Peter bank locations. Call 8776917. B 900 or log on to leader bank dot com. For more information. Member FDIC. Couple text messages I just want to share 603 writes John we're talking about dividend reinvestment plan and and reinvesting that dividend 603 rights. Drip creates a week cost basis nightmare that teach you really get records great point yet. And that's why we covered individual stocks sometimes not submitted it I'm also talking about in the tax deferred account makes sense. And then 617 writes I loaned it we had a poll question today which you know the ever made loans to family member or friend. Vast majority of our audience has in fact done that does not affect 76 point 92%. Of our listeners have made a long to a family member or friend that's excellent seven rights. I loaned a lot of money to the daughter of my best friend three years ago and still had not seen and she still friends but it's different. Scott via if and I guess it'll forever ruined yeah well for it for the life of me. You know I'm sure he ticked six and seven sticks are ticked off because he has been paid back yeah. But the way I vote because I've I've danced in you that's right yeah a lot harder on that person that's this year. Yeah I think they must be some people that just don't have a conscience. Yeah yeah yeah he's a great point I I I got stiff but for not a whole lot of money you know and that person never contacted me again like it ended the relationship. It was us. Obviously. It was a long term relationship like it's just there's a lot of bad endings to these situations. Tucker's been waiting with bated breath. For our apology. And sweet I'll tell you what if you're. If if you're my age. We have totally screwed. Millennial in future generations we have absolutely screwed the country while the pension situation is just to disaster many cities and towns. Are nowhere close to be able for the unsustainable retiree trust promises they've made by one estimate. They are collectively five trillion dollar short you. And if you may that the economy will be the third largest in the world behind only the United States and China now. So it Tucker I want you remember that saga it is. This John and I I don't think we'll be dead that we definitely will be working when this hits the but the in the next recession when we have another 20082009. Now what's gonna happen is teachers. Firefighters. Any any state worker in in in many regions of the country. You're gonna read about them losing their pensions like central falls Rhode Island you know which is just you know 45 minutes down route 95. Central falls Rhode Island. Retired firefighters. Took a 55%. Reduction in their pension because this city went bankrupt. And it's come it's this is on the yeah I mean that's that's an exaggerated example of what a lot of a lot of problems exist right now with municipalities. And with private pensions it could potentially be even worse or I don't know I know that. What is that there's not that many of them left there's not mind if I mean very few workers less yeah Levy did a survey of our audience in the privates on them. It would be less than 8% troop are covered by pensions whereas if you do public employees if you're like I've got nieces that are teachers. And in Vegas they call it pension is going to be there no it's not you are going to get expert at your pension or. What an eight year to two solutions are. You either screw the firefighters and cops out of their pensions you know or you raise taxes. And the amount you have to raise taxes to. Huge exactly added there's no easy answer and also the debt holders here could be on the hook I mean if if you're buying a municipal debt. You know we're ago we saw what happened would General Motors. Where the people who had the debt were picked behind the union they violated contract law that to me said dangerous precedent did it really did it made me think twice about buying corporate debt understanding what if I know we're buying municipal. Exactly. And again those taxpayers save. In game we inflict little harm to those people with the dead yet there's rich people that don't know those poems that's the mentality it is that was that's what Obama did great days during that administrations that while those rich people that on the corporate bonds they can afford to take haircut. It's a contract. That was set about the casino debt. That the person who runs the country right now held up. And so that's his opinion about the debt. Helped by trump casinos you can imagine what could happen with the debt held by municipalities. So young were you when you think this starts to I I think it's the next recession. And the big next big pullback. Is when you're gonna see some of the New Jersey has funded it plans inning you go through. So the states they're grossly underfunded. In terms of how much money tucked away from the east retirees yeah I would I would say this on private pensions to your point why they might be better off they've been adding a lot to try to. Make up for that I've watched with they've done over the last ten years you know the last two months is part in the most amount of money contributed towards private pension under funded. Because that tax cuts if the cash. And what happened with the new tax laws they've reduced the value of doubt by reducing the tax rates so that deduction went from 36 to 21 but the new attacks like do it alone until September for companies to deduct those contributions at 36%. So that's why a lot of money is going in which is good news yeah. Towards helping deal with those underfoot as only the private sect Perot does not help the cop. Does not help with teacher does not help the firefight yet your town does not have a whole lot of extra cash to plow into making up that shortfall it's just growing and growing and growing and if you think your property taxes are high now. So you have no idea what I think will happen to the soccer generation will say. Well you know we can't afford all these teachers and we can't afford it stops we can't afford all these firefighters. They're going to be cuts budget cuts it in likely across the board because that's the only fair way of doing it every one's gonna suffer some pain. But these obligations. The shortfalls five trillion dollars that's just ridiculous amount of money. You've ever wondered how much a firefighter makes and wage it varies quite it's of these in some parts of the country firefighters don't get paid very much at all in the northeast ten to do pretty well although we do in the northeast you know Maine it's only 30000 dollars from the median income which is which is in which an awful like thank you New Hampshire 46000. What about Florida. 50000 which is not IR. With the Florida would have been lower now but there you know Florida pays more than New Hampshire and Florida when you look at what's interest in news. The median salaries 50000 but the ninetieth percentile so if you did their for awhile and he's taken few museums McKinney. Which is not bad but in Massachusetts even higher than Massachusetts. Is not right in the top of the list and we number one I think we're. We're getting real close 5900770. Is the medium yeah. And some of the ones that 90%. Our our portion like ninety plus and they retire prettier. Yeah so you know it but unfortunately there's a great variance. And I'm sure the firefighters in Maine do just as good a job they're they're dedicated yeah they do a job that is they've literally putting their lives on the line. If you get a median income of 30000 dollars for that doesn't seem. Quite enough to want to cops and that varies a lot to. By city and town and how much overtime they're getting in yeah we get that big overtime scandal with the state eighty's yeah which you know. It's important to show up for your overtime. Really. It makes you said. I think why why why is it's a board governor picker seems hung up on that concept and you know that that it's really important that it be put in for. Overtime hours that you might want to show up there and do the work I know which is which is ridiculous. I think that position. Oh it it there's a big wage disparity. Between state and local town. Oh yeah. Stating makes it much much more money and there's a big disparity between town to town how much those guys make him eat out about a dangerous job. And we cut shot and killed and invest 200 Falmouth over the weekend or that means or kill others draw obviously so it's just him bourses hips and the steps found out the numbers nationally Europe like over 30% a guy in Weymouth very we just lame accuse you of strategist Geoff terrible but nationally it's up 30% plus. What is the number of police shootings shootings against police. That's very very sad very dangerous line of work the Dow is up a 142 points the S&P up seventeen points the NASDAQ. A 58. All the rural markets are rallying on rumors that's all they are so far rumors that China is coming to the negotiating tag. Table because they're concerned about ten seed market.