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Full Show 8-10-18

Aug 10, 2018|

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This is the financial exchange with the very 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. Good morning Mike Armstrong Peter how tough civil with you this morning we have a number of stories to get to first and foremost Turkey in the news and plunging currency and issues president trump. We've got the over regulation city historian at a New York City and then really what's going on with today's labor market. Obviously looks great we're gonna have. Denver. Review and that how you pronounce said. Such an eye on the cost integrity at all about what on to look at I don't know I'm thoughtful French and all I've won. Well coached here sheer going to be joining us later this morning doctors about the labor market. We'll find out the pronunciation of their name. But first on the gender issue. But first off we're gonna talk about Turkey which we usually only talk about in November on this show but and at that shied. This morning president trump tweeted out. I just authorized a doubling of tariffs on steel and aluminum the respected Turkey as their currency the Turkish Lira slides rapidly downward against our very strong dollar. Aluminum will now be 20% and steal 50%. Our relations with Turkey are not good at this time so. Peter let's back up a minute and talk about how we got to this point to where we are slapping additional tariffs on Turkey in particular what's been going on. With their economy and their political scene right now. This is a major head scratching legacy you think president earth guy and you know repressive dictator a lot of crap sense is goons to beat people up. In Washington. You would think he'd be the kind of guy president trump likes self if if it's a little confusing as to what this is all about the you know. There does seem to be a a banking crisis brewing in Turkey with Spain France Italy banks near that have. You know big loans. That Turkey almost certainly is neck real payback that's beginning to trigger a currency problem. If you slept. Terrorists on Turkey already and the currency is plummeting TV you need do arguably adjust those chairs to make sure to continue to have some buy. But this is one. I personally didn't seek them the FAA is a Loomis has been some stuff brewing in Turkey for awhile I mean there's been. Alleged coup attempts by Ireland which. Some analysts have kind of looked at and said this is all him just you know beefing up allegations to seize power which he has done over the last two years. There's an American pastor being held in Turkey. A line allegations that he flew a Kurdish flag and was trying to basically attempted coup against president heard on. And there's some there's some serious doubts about whether he was doing that Andrea whether he even news player Kurdish flag but nonetheless. These specific terrorist seem to be directly related to the rat refusal to release this American pastor of Turkey. But in the midst of all this the the economy is just completely fell apart. Rampant inflation the currency is you know. Down 30% this year's down 11% yesterday alone. On the at all in dollars up to today the dollars up 14% against the Turkish Lira down it's over a complete mess in Turkey. And that honestly this is what you have when you have a mean. Most recently prisoner of one just. Announced that one of his family members is going to be taking over as finance minister. And when you have an autocrat like this who's basically. That lets compare to the United States' rights are earlier this banana republic it's sort of vicious kabob republic bad me earlier this year you had president trump. Tweeting out that you know his really wanna see interest rates go up we talked about it on the show because. Historically American presidents haven't said that sort of thing and made him very much respect the independence of the the national bank. But nonetheless it's not like. Anyone expected the Fed chair to do anything differently because we dare completely separate their independent the president as having any control whatsoever over interest rates. Whereas in Turkey. Winner on says goes and he's completely botched the economy if it's a disaster. Stories come out and said they. I want all my citizens to turn in their golden dollars and you know turn it in for a Turkish Lira that is that that usually works and tell your citizens to. Him biting into their own currency and get rid of other goal that that's usually a real successful economic strategy. Ritchie a while this is everybody knows or been to Turkey assembles some beautiful country you to hold a beautiful country that you know should be a jewel of the world and the right on the Mediterranean. That people you know tend not to think about these days in through the air force base now things get bad with Russia it'll be our men and women at incirlik air force base who were. In a major role in. Camp in that spectrum yeah so ugly situation in Turkey. And I wanna point out that the markets are down right now the markets are down and I was down 235 points S and p.'s Downey teen. NASDAQ I'd down 45 points or you know anywhere between half a percent down to a full percent at this point in time. We got a point out though you Turkey is a pretty small economy and it wild and says smaller and getting smaller while this is concerning. Eight I don't see it as one of those old boy this is going to just expand over the rest of Europe or wow you know well a lot of you know a lot of big US banks are Japanese banks Chinese banks are going to be in impacted by Turkey's economy falling apart. There are some connections there and it's not Signet. And it's not like Icelandic banks back in the day that almost took down the global economy is they've gotten. So far out of control it's you look at the amount of money that. Turkey potentially default time to have been a major European banks. Hundred billion dollars you know it's that he wouldn't be it's real money to the global banking system it's around its. At the it's small figures as Spanish banks are about 83 billion actors Morris French lenders. 38. And Italian banks own about seventeen serve anyone is susceptible to this its Spanish banks which. Can I wouldn't touch it Spanish bank if you if you paid me anyway so why is that that's the real you know potential issues here. Bench EI if you own Turkish Lira. Might be time to divestiture of your currency strategy there is that economy is in rough shapes and impacting US markets over all of this him really. A pretty small economy. Having an impact on US markets where sell your Lira to Turks for goal. When a deal. We reported on this story yesterday I want to bring back rip Hoover an air BA indeed both facing pretty big new regulations from the city of New York which. Has really been frankly breeding ground for these new tech startups with huge population that want these services. And the city's kind of I guess turned back against them in some ways. Lazio built was he on New York. It to me as an outsider a robust and and so I don't really like new York and for just. But sort of Lazio it seems like he'd never passes up an opportunity to screw up something. In New York with the Governor Cuomo right behind it's like. Let's just in the name of you know corrupt rent seekers in the hotel and taxi. Industries let's you know throw CNN figures of governor Beebe now that they shouldn't you know face some reasonable regulation but. This just seems like classic. New York City protect. Vested interests and you know instead of having a smooth functioning. Highly innovative economy figure out ways to kind of shake people down. And thwart innovation and threats to incumbents. In on an inch to see where people fall to a New York did in respect do overs they set for twelve months were suspending any new licenses. For drivers and by the way New York is one of the only cities. That your requires that over drivers get a license through the city in masters it's shakedown investors is that a sign up with Hoover and boom there approved and you know that's had its issues too I mean their bin you know reports of people without licenses to drive dragged through Beriault no bad background checks are a lot of different cities are dealing with this issue. New York. Has taken I guess an interest approached by just saying hey we can't really measure yet so we're just freezing all new licenses. For Hoover drivers. I guess here's my question. Should other cities be doing stuff like us. I know there's complaints about Hoover certainly if you own a taxi medallion you've been pretty crushed by the inception Hoover and where it's gone I wanna see where people fall on this in New York has put a cap on the number Hoover left drivers. And in some regards I mean traffic in Manhattan is terrible so I kind of get where they're coming from trapped in Boston is absolutely terrible for the worst. Where one of the worst cities in the country for traffic right now. I wanna see where our listeners think TC can participate in our poll by going to financial exchange showed dot com the question to our poll is should all cities. Put a cap on Newbury list. We have caps on taxi medallions we've got caps on a lot of other things should there be illegal cap. On Cooper in left Mike was just done in Manhattan so again log on to financial exchange showed dot com. I can also what Texas your opinion of you know when these industries should be more or less regulated in Texas at 63. 566. It's your first time ever texting us and he's put Barry at the beginning of the text message. Coming up. We're going to be talking a little bit more about the currency in the admiral's going to be joined by our McCall. Stay tuned that's all coming up next on the financial exchange. Have a question for Berrian junk. Now you can text us at 63566. And take part in the show at any time. Start your text through keyword battery can join our exclusive club days as the financial exchange radio network. After five years of no movement at all the Fed has raised the federal funds rate five times in the last sixteen months and two more rate hikes are expected this year how will rising interest rates affect your investment strategy Titus is very are strong and my team at the Armstrong advisory group has written a brand new guide about the challenges of investing any rising interest rate environment it's important to not make snap decisions and to always look at the big picture and this guy is chock full of information that you'll need to help educate you on making the right choices for you and your family. Interest rates can affect all pieces of your overall investment portfolio so don't miss out call right now 803934001. That's 803934001. Or download the guide instantly at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are unaffiliated. Are you having problems the blocked sink or drain. What 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 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. Cold easy plumbing. Easy makes it easy either 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 call today in your plumbing problems. They're history call easy calming 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. 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. Terry we created a security deposit product. To really help the problem a lot of blame border facing with security deposits which is. You know one it's time consuming to open the small enough security pop number sons now. And yet to go into the branch got signed paperwork and 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 Thursday deposit it literally takes about forty seconds opened up an account. We handled the automatic form tattered generated in the count number department condition statement all that sent 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 that might only have five tenths yeah absolutely with a large landlords. It's just a lot of hassle to managed so we make dad very efficient. For the small landlords a lot of them are afraid of nineteen complaints done correctly that some of them some of them don't even like taking security deposits were hopeful that this up 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 Tenet deposits to great concept you might wanna 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 dotcom and search for the station closest view this as the financial exchange radio network. Thank you for spending your Friday morning wit us and this segment of the financial exchanges where if you buy leader frank. With leaders zoo miles reward accounts earning an absurdly high interest rate. At 1% cash back with debit purchases in an extra 10% back when you use your card that featured businesses. Qualify for these and other rewards cult leader bank at 8776917900. That's 877691700. Customer must meet eligibility requirements to receive zoom mount rewards conduct leader rank for complete details member of BAC. The before the break we're talking about the story in New York about them capping up the number of Hoover in lift drivers that they're going to allow. Yeah poll question it is our poll question for the day and go to financial exchange showed dot com wanna I really do wanna I don't quite think about that whenever one of my pals in the taxi pulled Logan reporters listening to 68 RKO. Yeah well weigh in on this one I have a sense of how they might vote to reacting to you if you're taxi driver you might have day you may have a specific team but I wanna see what other people think about this because. It would generally our listeners are pretty anti regulation but there seems to be. Some demand at least for more regulation on the specific companies these ride healing services so. I go to financial exchange show the poll question is should all cities put a cap. On Hoover and lift like New York just did. Ian now now obviously in Manhattan and the rest of New York. This year's big disrupt that the dollar. You've been. It's it's easy to forget this year and emerging markets are getting crushed all other currencies and the dollar seem to be getting just railed on. The last year the emerging markets index you know it was up 30% the currencies are doing well. But this year the the dollar is you know the only currency that. And and were really being reminded again this year is that. All trade is done in dollars and I think it's gonna start impacting. Our exports but hasn't already. At some point that you know it actually is gonna catch up on us and you know it's amazing number and heard on the street com today. In the Wall Street Journal five trillion dollar to a foreign exchange market US dollar is on one side of 88%. Of all of those trades you know we've. So I worry about how long do we remain the world's reserve currency but you know where the rubber meets the road. People still wanna be in dollars one where the other. It appears that way and certainly hasn't slowed down on the economy yet. We're joined by Donna Henry Bruin from Yahoo! finance right now he's got an article out that the labor market may be even stronger. Than people realize. You know I I can't really imagine how which could be stronger but. Diane thanks for coming argue pointed out that the labor force participation rate which has been getting better and better. Is perhaps even better than the numbers are talking back to you can you point to some specifics here. Sure yet thanks for me the number of violent my apologies. Then an award or bill yet you know as we look at the labor market unemployment and all the numbers. A lot of people who have been you know kind of throwing cold water on numbers. I always went into Tuesday and that's the wage number and the labor force participation. Both of those have been kind of stuck in neutral not really growing. In the way that they did nineties or you know whenever we had previous recoveries sessions or been in strong markets like BR though. If you look at the leap forced to patiently which is the number of people who were able bodies that told. Sixteen to about 64. Who just have the capacity and ability to work but are or not it's been about 6066. Expect that respect and for whatever reason that had been. Grow well my story book that is that I meet with a piece of prime age for the patient. Which is people when he can get it before which are actually the most important part of labor force and that number has actually been trending much higher. Has passed three year. A packed Erica that that's sort of makes sense because I've been seeing you know. A lot of stories about how we you know 161020. Year olds aren't really getting summer jobs are really working at this point in time as much as they were in the past so I can see that dragging down the labor force participation rate. But just how you know how significantly has that 25 to 54 group grown. And I guess or does any of this impact what we've been seeing for the lack of wage growth. Yeah and act that actually (%expletive) so this has been peaking are peaking tires and about this team. And it should really start to pick up wage growth because those that he earners who are going to demand high week. You mentioned younger work is it's actually what really been kind of tracking down averaged. Add in the fact that the US population they get older. And that there are more people in bank group of workers were bitten by these seventy if he put things work longer. They're being paid a longer at the wave that he worked out of pushing older workers to retire around crisis. And the years that followed hasn't really been happening though people who are older they don't really demand weak is that kind of happy to be in the gap they have. They don't move around which job. Whereas people in that 22 to fifty or segment. There and it's a higher job they're an abortion to pay them more they're also gonna try it more or revenue to the company because they're gonna creep like he is they're more productive. Things like that though there's the debt repayment should really be a hail land in terms of boosting the economy further. Going forward. Do you sense of should we be thinking about statistical margin of error in any of these. Numbers and you know how does that come into play because these are based on they were forced participation is essentially of a big Department of Labor. Public serving correct. Yes Lou there's that always and think about. The thing is though this isn't a one off worst of it happened over a couple months or even you know three or four but Pete is the solid. Uptrend it's been happening since. He doesn't that if you read the article I gotta buy dot com you can be the actual chart from DL at the Bureau of Labor Statistics. And it just you know it's very clear there's this downtrend. From about 2008009. To Tibet that teen. And then you speed is very clear up though month on month they kind of at the lows but there's a very clear trend. A direction. Yeah that's a really good point to make Andy you pointed out again that the labor force suspicion it measures went sixteen to 64. We've got a huge group of the population now I would guess between 65 and 75. That are still in the workforce this point that probably aren't being measured by any of these statistics. Well that that's partially true though labor force is the patient when they look at able I think I forget the actual name of the term but it did it six Tina. Sixteen and I think that again that that actually does measure those workers the Pakistani side. I'm when I'm tired about the prime meat workers that just twenty if he or yep and then when you look at the two overall labor force participation. But anyone that he kept. Yeah so I mean I don't find that I think you're right to call out this particular segment of the population because. They say the weighting of our population towards the older segment is greater than it's ever been did I really appreciate coming on this is interest in reporting. They have we're gonna have you back on if we don't see any wage growth next twelve months days it seems like all signs should point. Towards that coming wage growth at some point soon we've been calling for her for years. They definitely should not one of the big conundrum that economists that the try to figure out for awhile to wipe out an ad. It does look like restarting the B we get the PPI number this morning which. Again this morning towards Morse solid growth in terms. I wages and went earned not a but wages. Overall inflation pick out so we should start at the end you know obviously I can't guarantee anything but there's simply no reason which it. Agreed thanks. Oh where he knows how to hurt a guy that eleven more months and I'm no longer primate worker that's right. We'll be right back in the financial exchange showed got Wall Street watch coming right up. Like there's something. Follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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 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 either 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 call today in your plumbing problems. They're history call easy calming at 781. 862. 1190s 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. Know that. 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Michael Wall Street by attrition in the Dow down about three quarters of pursue analyst Turkey craziness but. Wall Street watch Dropbox and Murdoch's as in News Corp. what's up with Dropbox yes or Dropbox. The beat on most of their earnings numbers that BS missed by five cents a share I'd just gross profit of eleven cents. A pretty strong revenue opry strong paying customers. But they did announce the departure of their CEO CEO OO. As well as a lock up period that it ended. So stock is down pretty significantly in spite of a decent quarter. Stocks down 9%. Partially due to the departure of their COO. Potentially little oversold now Beatrice Tennessee if that shakes out. Now over at News Corp. which can be shaken there so News Corp. also reported earnings. You know they are trying to head showed off shrug off what was a pretty big loss it reported net loss of one point four billion dollars for the year. Guy is worse than the previous year 643. Million dollar loss. They did have someone off you know one time write downs. Because of some Australian. Assets they sold off. In consolidated but overall you know pretty ugly story for a well you know is it pretty well capitalized company losing one point four billion dollars of the year. Stock is down over nine and a half percent this morning on the earnings report that they gave out. Words you'll never hear anybody else say world Rupert Murdoch that poor Rupert. It. So we got some GDP numbers this morning which varietal. There were no surprise in the GDP press he sees CPI report. The inflation came in at zero point 2% which brings us to an annualized growth creative. Two point 9%. Where do we see. You know the economic growth going from here you know we really need to be hitting 4% 5% of the next few years were not getting there yet through did. At the most in the celebrity get to 3% and 28 team. The where we see things go from here. Very good question that's gesture number and piece in the Wall Street Journal at Daytona with a 3% number for 28 team and then. What happens after that as you know will be into the tenth year of the economic recovery interest rates going up potentially some of the bite from the trump trade ward from cores and is kicking and with the economy the big question I have is. I buying into the idea that there was just a lot of sort of suppressed growth. In the Obama years at the touted the economy could have grown a lot faster if there weren't some innings Obama was going to tick off the oil business or the banks are. You know just basically throw wet blanket on the economy now that wet blanket is gone and the question is you know how much spring. How much quelled up spring mr. Vick and still come on sprung in the economy. Yeah and every certainly seen it to some degree in the markets performed incredibly well. Yeah the big thing that I worry about in terms of seeing the growth that we want. Are all the rising costs. You labor costs. Seemed to me like they're going. They are 24 in the numbers yet but I think that labor costs are going to be shooting up over the next few months. Borrowing costs are definitely ups of a company wants to go borrow money that's gonna cost a heck of a lot more money in the year ago. Oils in energy costs and a Leo costs are usually comes out of Iran yeah so it's a big. Big opportunity don't have Iran there's a lot of opportunity to see more economic expansion the and we have these issues when we have a very strong dollar. It makes it real tough to hit the strategy Pina. Day you have a real strong dollar to be tough to export. A lot of these goods out of the states witches you know more and more when our economy. So speaking of input costs let's talk a little bit about the price of oil. We are in the process of applying sanctions on. That is going to impact the world's oil supply. A lot of analysts predicting this can be pretty significant. And hit the world oil. That's with IEA is saying there's interest in peace on this CNBC CN Meredith. Makiko deeply into this piece and yeah remember the sanctions are to collect Swiss cheese and the news. You know ten different ways to cheat and get oil back out of rye and you know sanctions or not. And so the last time around you know guess it was about half of the running output 2.4 million barrels today about half of that that taken out of the market one point two. But Jim writes however this camera many an energy analyst we've sanctions will prove far less. May be only about half department so 600000. Barrels a day. Being taken out of what if memory serves about an eighty million barrel a day global oil market and Saudi Arabia and Texas and North Dakota can make that up like that. See that's the tough part is age. Will sanctions are tough and me loyal just. Oozes through the cracks whenever they're sanctions put on day always finds its way out into the market. And a lot of economies is in China and Russia business and Edward merges Bernanke bond buying stuff. Not to mention you get the saudis cheating on all of the you know pumping restrictions that they're you know they're the ones that are. Telling everybody that hey we need to cut back the oil supply but they're pumping it. Through the roof so I don't see that impacting on top of that. You add China dropping crude oil from its list of targeted terrorists there they're supposed to put tariff on and now they're saying you know. Revealing an incredible vulnerability. China you know imports 70% of its energy needs and potentially 180% by 2040. Unless they ask and I say start taking over some other countries Alla World War II. They get some problems with the haven't of import such a huge percentage of there. 70% this year is expected to climb to 80% by 2040 I mean did China is a tough spot here today in less they're going to invests. You know really really heavily in I guess renewable spears they just don't have they don't have oil they don't have LNG says they have no real supply of this stuff. I don't know what that economy's going to do. If you see a real spike I mean you know US is now in oil exporter. Never would have thought that thirty years ago China is in a tough spot. If you really CDs oil prices go up and be my turn in the United States the meat Turkey do we deal with China we take Putin now they get the eastern half of this the former should be union. Banged I'll learn to problem solve that that would solve a lot of them who have not sure I wanna see that the folks after years of no movement and all the Fed has raised the federal funds rate five times in the last sixteen months and two more rate hikes are expected this year. How all rising interest rates affect your investment strategy called me now and I'll help you find out this is Mike Armstrong and our team at the it's important to not make snap decisions and always look at the big picture in this guy's chock full of information you'll need. To help educate you on making the right choices for you and your family. Interest rates in effect all piece of your overall investment portfolios and don't miss out call right now 80393. 4001. That's 803934001. The Armstrong advisor has been helping families throughout the knowingly and manage their finances. For many years with the help you to call 803934001. Or again you can download the guide instantly. And Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. So we've been talking all week about Tesla stock about the craziness that the circuit story that is Elon Musk and his Twitter account. The board is now saying that they plan to meet with advisors next week to really ramp up he's going private talks and keep in mind this is all with the backdrop of an on going SEC investigation. Around his Twitter account and his announcement earlier this week it's that you want to cut the company right where he wants it. Getting set to run and into the ground and be able to take it out and major discount to fix it up come back out again and make three billion dollars that's the thing he wants to your private for twenty share net that's that's no joke so if anyone miss this news. I guess you really have not paying attention markets this week but earlier this week Ilan mosque tweeted. Thinking about taking tests the private at 420 a share find funding secured and that funding secured those two words. Are the all important pieces of this announcement because. In that announcement the CEO of Tesla basically. Told investors that he has the ability to take this company private at 420. Dollars a share. If he didn't. If this was alive if this was a fabrication if this was an embellishment and he hasn't talked to banks. Which by the way no big banks investment companies private equity firms have come forward at this point. And said oh yeah we did have these conversations reveal on Moscow ahead of time and dad yeah we we were planning on assisting him take the company private know his command said. Usually you do usually you hear that sort of thing and that's what the SEC's investigating because if if it was. If it was intentionally misleading. That would be the concern for you as if he if he intentionally was just trying to mess with the price of stock price of the stock even if it wasn't for his own benefit. He could end up in some real I just don't understand why he would even consider taking that risk in getting launching this investigation on himself from the company YOYE. Because he's not Ito made Alka. Mean that pretty much explains it's an ego thing that I really grow I really think it's an ego thing you know he there's a ton of people that short this stock that bad against the stock more and it's the biggest short position in the entire morning entire stock market. And it's not that big the company said it that's precedents in of itself. I don't know mosque we haven't had a conversation but from reading his Twitter account from reading the interactions that he has big cat. Big head and could kind of see him saying this to be a good way to stick it all these these shores investors of this you know I'll stupidly. Right it blow up your entire the empire with two words on Twitter how sweet is that funding secured. I know and love all the little jokes that you would bring on to order an exam go to chipotle this afternoon findings here. But it executed. We're take a quick break what were coming back we're talking about the Supreme Court ruling in regards to tax collection for. Online companies asked the right here in the financial exchange radio network. Join or Britney takes club by texting the word to 63566. To send your first. Less Damon get involved today you're listening to the financial exchange radio network many of you listening today are probably retired or getting close to retirement age so have you taken the time to think about what happens if you or your spouse gets sick and needs nursing home care. What would you do if you're just didn't have enough money to live on because you were in a nursing home in depleting your acids by thousands of dollars a month how long would your money last if you share these concerns the new need to call Cushing in Dolan they've got a brand new kind of this month told the difference between life to states and irrevocable trusts that can help educate you on how to deal with this problem. Your situation will dictate which product would be best for you have give the experts at Cushing in Dolan called then let them help you create a new state plane that will not only protect your assets from the nursing home but will also help protect your family avoid probate and potentially eliminated state taxes pushing in Dolan has been helping families like cures for thirty years and they can help you to call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange showed dot com. After five year. Have no movement at all the Fed has raised the federal funds rate five times in the last sixteen months and two more rate hikes are expected this year how will rising interest rates affect your investment strategy Titus is very are strong and my team at the Armstrong advisory group has written a brand new guide about the challenges of investing any rising interest rate environment it's important to not make snap decisions and to always look at the big picture and this guy is chock full of information that you'll need to help educate you on making the right choices for you and your family. Interest rates can affect all pieces of your overall investment portfolio so don't miss out call right now 803934001. That's 803934001. Or download the guide instantly at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are her securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are. Unaffiliated hi everybody it's Berrian talked with you here with a quick tip from the legal exchange showed doc common. Todd I wanted to talk to you about the five year waiting period for Medicaid eligibility. As it applies to the use of the medic and a light the state so let's say I three I give by house away. I give it to the kids. Does that five year clock start taking if I'd done elect the state yes so if you take your house and many people do this if you take in your house and transferred to the children. And reserve the right to live there you know does that create a five your Medicaid I would absolutely have to and that's the definition of elect's right giving your stuff away give it away but you you do reserve that right to live there so that's at least something that you're keeping which which is certainly helpful to you post to pay the property taxes and maintain the property. The property taxes and maintaining is all done by the life Tenet but you know but I I want to stay on the five year waiting period just from an a because so many people think that it doesn't apply either into the life as they arrangement like you mentioned very. And also too when they may get you hear people I can give 141000 dollars a year away because I I can do that and not pay any gift taxes that's true. That's an IRS regulation. You'll pay any gift taxes but you will have a five year waiting period. For Medicaid eligibility so it does apply to almost all transfer some including. A life estate arrangement. So yes it does apply. All right folks Cushing and all and is making a brand new guide available and it's very helpful for those of you who are thinking about giving your house who use like the state compares the advantages and disadvantages. From like the state to an herbal global trust the phone number to receive the guide is 8668485699. You can download the guide right now. By going to legal exchange show dot com or call toll free 86684856998668485699. The financial exchanges line on FaceBook and YouTube watch Barry and Joseph discuss the issues of the day and see which one smiles the most. Days whose financial exchange radio network. Had a few texts coming and now about if you tops recovering if you wanna tax the show by the way you can send text to 63566. If you've never participated before you do need to right Bay Area at the beginning of your text message BA RRY. It hey guys you know if we were drivers are drug tested. To my knowledge I do not believe over drivers are doing a drug tested at all unless there's a specific complaint brought against new driver in that case I believe in but to mine knowledge. Who were drivers are not drug tested as part of the sign up process. No no routine monthly unit Condo random or routine drug testing for you drivers. I'm seeing that there are. Our other really well I tell you what if anyone drive through over and you know the answer this question please Texas tonight Ulanova at the read the articles that I had read over you know going back to 24 teams who were drivers were not drug tested in the past. You can again Texas at 63566. Another question if I owned Tesla do I still stay with the company when he goes private or. Or joined at the stick when nab shares are brought out without my consent. Unclear obviously we don't know just zooming and go private when he won lost our funding will be secured and it is funny I was scared. When when he Lamas talked about it he was talking about having. Existing shareholders staying on. As being shareholders in a private company but again you think about that it's going to be illiquid. I point that out in a you'll only be able to put in for share redemptions every six months and you know prices it'll kind of be a questionable so unclear as to whether or not you would Stabile owned shares and Tesla. If they went private back to you were situation we have a poll question up on financial exchange showed dot com Tucker what the result what's the question and what the results so far. Yeah the question at financial exchange show dot com is should all cities. Put a cap on mover in Lipton so far 55%. Of our listeners say no. While 44% are saying yes and by the way we did get an update apparently. Our video coordinator Matt Darius has driven for. Both Hoover and lift. And said they do not conduct drug tests and Alice yeah as such I think I think they care and I think is in this state by state basis. Maybe that's. Jurisdiction and may be written and cinder block so I remember when they went to Arizona. Arizona had strict rules around limo and cab drivers that if you want to sign up is cheap but you had to be drug tested. And Hoover said hand effects. Now come and catchers that was you know one of the conditions that. It is also an insurance issue but. Dating go to Arizona for at least a period time because of that so I don't know if if certain jurisdictions you get drug tested but I don't police around here. Again if you want to Spain the poll this is a pretty close close high in a should all cities put a cap. On Hoover left to right now the nose or winning but go to financial exchange showed dot com and participate. In our poll. Last month it was at last month the Supreme Court had this ruling June. Okay back in June this stings more ExxonMobil sellers that he had missed the states can tax online sellers even if they do not having physical presence in that state here's a case against way fare I've brought by South Dakota. And it's starting to be implemented in different states but Massachusetts. Is being. Difficult is it is that is that a fair term to describe the baker administration around the state tax collections are now you know you would think. The Supreme Court decision would issue complete clarity that this could decision in my account and Chester wrote in the in the globe today it's. It's fairly clear but they're definitely still some areas of murky nest and part of promise. Masters won't join this coalition of 24 states that if essentially coordinator Shia sales tax is to reduce confusion. And masters is still has this kind of bizarre. Legal theory that. You go to when Alan retailer another state you do business for them there than cookies downloaded on your computer. And so the baker demonstration department revenue argues that these cookies count as a kind of physical presence diesels zeros and ones into your computer Ari. Physical presence of an out of state retailers their where they can. Tax you I feel like you take that up to a court nets likely to get potentially. Left out by a judge and their play by the ways matches could solve this. Problem accents join the coalition. There 24 states had made. Easy rules to follow around how in win you must collect sales tax and the retailers seem to be OK with it because it's an easy good set of rules. When you make it really confusing right you think about your small mom and pop retailer you re read today a story about this small candies candy shop in New Hampshire. Who has never had collect sales tax ever because he's in New Hampshire there's no sales tax. And now always you know it's completely unclear depending on which state he sells to whether or not he needs to collect that sales tax at what rate and have to do it. He's never done it for NORAD over to Amazon. Senate present and they solve that headache for a deal that works that helps them take over the entire world yeah I mean they they're tried to take over here. Technology and start selling. Stuff starts on the exact same candy on their platform and is doing there own at some point but. Amazon will take care for you I think a lot of these different platforms and it's the Amazon. All of these platforms that sells items for you online are probably gonna technology figured out real quickly. But it for a small online retailer that you know immediately does a million bucks a year in sales. It's confusing. Yeah one and you get ended that in a state like. New Yorker Pennsylvania where New York City as an added tax and right Philadelphia has an added tax and in Massachusetts some states your. Some cities and towns or six point 25 Summers seven. Confusing stuff that's it for this hour of the financial exchange. Stay tuned here we're of course you have Paula Monica joining us on the next hour and Dan Ackerman from CNET talking to us about the new Gallup Samsung galaxy Smartphones stated. It's not too late to get a great grade and whole mortgage leader bank specializes in a wide variety of purchase and refinance loans that 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 pastor closing calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Many of you listening today are probably retired or getting close to retirement age so have you taken the time to think about what happens if you or your spouse gets sick and needs nursing home care. What would you do if your spouse didn't have enough money to live on because you're in a nursing home in depleting your acids by thousands of dollars a month how long would your money last if you share these concerns and you need to call Cushing and Dolan they've got a brand new kind of this month told the difference between life to states and irrevocable trusts they can help educate you on how to deal with this problem. Your situation will dictate which product would be best for you have give the experts at Cushing in Dolan called then let them help you create a new state claim that will not only protect your assets from the nursing you know. But will also help protect your family avoid probate and potentially eliminated state taxes fishing in Dolan has been helping families like yours for thirty years and they can help you to call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called Z rent it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology to Obama called this he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. The money matters radio network WB MW 11:20 AM and W 275 CN FL could cost him the money matters radio network. I folks it's chuck and Mike from the financial exchange and we're talking today about how to invest in. What kind of sector struggled when rates are going up Michael we talk about that interest for everything mortgages credit cards. Yes they are technically paying out a little bit more on CDs and bank deposits as well but they usually more than making up for that on the on the charges at when we look on the downside because as much as there might be good news and some sectors there's always another area that ends of struggling what parts the economy and what types of stocks might struggle. If rates go up well two big areas tend to be utilities and real estate on the real stateside it's pretty obvious if mortgage rates go up van people are going to be able to afford less real estates that makes sense utilities it's a little bit less obvious but effectively a lot of investors by utilities because they're seen as a replacement to CDs or bonds in some cases because their relatively safe investments when interest rates go up sometimes they sell those safe investments in favor of those CDs and bonds again folks we've given you a couple ideas to think about with regards to how to invest in a rising rate environment but there's a brand new guide out from Armstrong advisory group and only up to you to get it is call 800. 393. 4001. Or go to Armstrong advisory dot com once again that number is 803934001. Securities offered to securities America incorporated members Jenrette SAP C and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Do you have an elderly parent or loved one be suspect is being scammed for their money if so enjoy with Massachusetts credit unions in our fight to combat senior financial abuse uphold genteel president of the cooperative credit association inviting you to visit better values better banking dot com to learn more about C news senior safeguards and an educational tools that help you recognize an elder financial abuse and what to do in response does it better values and better banking dot com and help us take up the fight to protect seniors everywhere. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally we just make sense give leader banker 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. After five years of no movement at all the Fed has raised the federal funds rate five times in the last sixteen months and two more rate hikes are expected this year how will rising interest rates affect your investment strategy tie this is very are strong in my team at the Armstrong advisory group has written a brand new guide about the challenges of investing any rising interest rate environment it's important to not make snap decisions and to always look at the big picture and this guy is chock full of information that you'll need to help educate you on making the right choices for you and your family. Interest rates can affect all pieces of your overall investment portfolio so don't miss out call right now 803934001. That's 803934001. Or download the guide instantly at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated time for bank the pays you with liter maximum reward accounts -- 1% cash back with a debit purchases and an extra 10% back when you user carted featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and earned annual percentage yield ten dollars mass residents only these may reduce earnings rate subject to change without notice member FTSE. Leader bank a step ahead hi this is very Armstrong and if your landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and even send out annual interest payments directly to attendance -- called the -- deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank step ahead. 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 own. 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 I hate to be the bearer of bad news on beautiful Friday morning but it does not look like US markets are going to touch that. All time high that we had back in January this week we started this week about 1% away from that all time high. Dow Jones right now down 166 points about sap point 65% S&P 514. Points about half percent. And the NASDAQ down about 35 points. Point 45%. Most of this. On news out of Turkey. Their currency is completely fall apart your date down about 30% over the last couple of days them between five and 12% depending on the time today. Significant issues over there at the trump administration earlier this morning president trump announced that he's imposing double tariffs on steel and aluminum so looking at 50% for. Steal in twenty it was 20% for aluminum going forward for Turkey specifically. Currents that country is experiencing some very serious issues there like I mentioned their currency is taking huge hit their citizens appear to be. Stockpiling gold in dollars amid concern. An inflation. Completely running rampant. So the the terrorists that we're talking about specifically have to do with an American pastor that's been held there for the last two years. Turkish that the torturer in the United States trying to negotiate about his potential release that did not happen and this with reaction. It's that that specific issue in Turkey is feeling. A little bit were Phillies and the ripples here in the United States economy and so is the rest the world market. And it's really busted at that promise them bank exposure in Europe to Turkish on some may not get repaid especially Spanish banks which are now in great shape to begin with so it. That to be a prom that jumps the Bosporus strait as it were good day. He again don't don't think about this Turkey's situation is something that's going to you really sent huge ripples throughout all of Europe and all of Asia and the United States I mean Turkey's economy still is relatively small but they are a pretty significant. Guess political. Political figure area home to a big game big air base for the United States. Traditionally historically we've had great relations with Turkey have been deteriorating. For years now and seems to be coming to a bit of head here as the economy really really struggling in Turkey at this point and we did a story earlier this morning about the city of New York placing a limit on the number of over drivers. Over and mr. Everett area issuing no new licenses to be an over the driver in the city in Europe for twelve months. And it's been divisive topic. We've got a whole question up on financial exchange show dot com right now the poll question is should all cities. Put a cap on the number of Hoover analysts drivers to my knowledge New York is one of the only cities right now that is done this. Most cities you just. Contact uber sign up in your new driver. The question up on financial exchange or right now should all cities put a cap on Newbury lifted talk what are the. So far yes so far the results are fifty some percent of our listeners say no that cities should not put a cap. On Hoover and left and 42% of our audience is at 42% so it's pretty close across the board just a stupid question. If cities do put a cap on the amount of movers and blitz is Mac and a hike up the fair absolutely. Now I'm a no men put the there'd be a whole lot more surged pricing is yet it would be looking for new routes in time. Yes there it would undoubtedly rise to raise the cost but I would argue it would probably reduce traffic. And that's a tough call that a pro pro wanna reduce traffic and I think that you might also see. Let's see capita. Thousand U might start scene those thousand who were drivers some of them working 203040%. More hours unite so you'd have as many over cars fewer people working longer hours this. But you guys but I idea regularly see people who. They have. A fulltime job and then they pick up you know ninety minutes here two hours there at work Saturday afternoon. For Hoover you know get some. Not a good context. At a good reference for somebody's driving a carbon pick up some beer money. Right now. You know if you if you have you know student loan better or anything like you know each chip away with that's a nice job like him who burglars compliment that that's all manner. Well it's it's and saying like I said logon to financial exchange show we wanna hear your opinion if you avenue opinion more than just answering yes or no you can text the show as well. Text number 63566. If you've never texted him before just right Barry BA RR wire at the beginning of the text and then your part of the club you don't detects that. Anymore. In other retailer has landed a deal with Amazon and I think this one makes a lot of sense a party city which historically has had some big issues Peter you're talking about before that it used to be I party they. I think but went bankrupt restructured and opened up the next day as party city. But they're finally getting some of their stuff on Amazon and to me this. Makes sense for party city at least in the short term I don't know about the long term if that's really sustainable business. Well it's you know especially with what they're selling and the attention that they have all had this new England and Florida business presence and Boynton Beach in Miami and tolerant Greater Boston. Great little store especially for birthday parties those few little kids but. You. This fight I hadn't been to a party cities like ever in my life and then now I'm going to birthday parties to kids all the time and there like depth. Fort I mean that there is the lumbered by me. Achilles. Thing mark my marvelous streamers and balloons and confetti and whatnot but yeah it'll buy me clothes so that at the inched up. I mean. It's in it's good timing so big big business party city is Halloween costumes I think it's Smart as hell for party city to do this I think it's a great move for. The concern. That I have is. Does Amazon just take all the analytics from the sales of party city and just today. This is cheap. It's crap that we can produce in China there's a party city and it's Amazon basics hollowing caution Hague. Arie have a they have Amazon basis following Gaza due to early and I think so and I I worry about that if your party city of the knock off a fact because it's really really easy to make knock off Paul. I is not your. And as a and he won a little bit of insulation from the party city brand because you think party city. I mean the great thing about it is your pain next to nothing you're getting colorful crapping your discussed throughout the next day is that potentially a line of products and Amazon and doesn't wanna be directly associated with the wanna sort of be a little up the value chain and have party city is the essentially you know they're joining Amazon's dirty works on the mylar balloons and the 99 cent maiden at Chinese sweatshop. Stuff haven't died that night. Crap on Amazon and thrown within three months old ten. Men that I mean think about all parties stuff that you were so and Mike graduation parties in Halloween parties birthday parties. Football parties or whatever football gathering parties people needle that party crap I'm surprised the stuff is and our radio Hamza camp by the staff and he probably can but. The fact that prices attaching I mean that they're attaching their name to a public one another choice today hat their stores are closing. The only real joy only reason I go to two way a party cities because they have helium. And that's fine that's open when I get from him as a team let's examine -- of that a so but anyway interesting deal for party city guy you know pushing a lot of their product on to Amazon which you need to do these days if you're brick and mortar retail only half the sillier stuff on line. As seen. There there in store sales haven't been all that does Amazon party suppliers all might goodness they have sections dedicated to specific parties. Bridal shower birthday Tea Party. Let's see here birthdays graduation baby shower. It's all here Halloween Thanksgiving holiday while they have it all so party say I'm not sure what they're gonna do to really differentiate their products here and by. Again they're forced a situation like now Equus. There amateurs. And on Amazon otherwise you can get purchases so party city making a deal with them. Huge news at McDonald's. Huge is it huge news anchor. The mic gold card Mick gold are you ready from a gold whether what's on the medical cart whatever you want real. 22 meals a week for fifty years. Swap or until you die of diabetes her cholesterol right. So it's a contest going on right now I can't think of this field that Charlie and the chocolate factory type of thing yeah and gold they're trying to push bear online ordering amp. Which they should make sense when people buy stuff on the apps they spend more money to go more frequently because you know been there. The person about your disgusting order. But anyone that signs up and places an order on the McDonald's apt from. When the dates the desire to participate in mcdonalds for. Contest details. Basic place in order placed on law and order our stars today and starts and runs through August 24 and if you win you'll get the McDonnell Nick Gold card which will intently to the free meals. A week it for fifty years they put a price tag marry. Like the actual value added value that is 52350. Dollars yet if I got back current bitch is coming to 52000 dollars or call today and I might. I might do to breakfasts. Week at McDonald's I sit out the next fifty years but otherwise ever this journey said. Do you urging you already due to breakfast at McDonald's everyday and no I don't but I mean I I probably have eggs for I'd. I might consider but where I'm gone witnesses I ever this story and I said. First prize won the gold card. Sec comprised three in the pulled carts. It it read the card. I mean you could also daily coffee every day for the rest your life. Yeah he can do that you can use that's that's what's out of pocket coffee there the reason I guess you week as they know if they do three week and that person is dead. That they'll be bad for us to death sentence sentence he hurts a seven years if the I'd elect. I. I think it's Smart today you got to get people to download these apps that's how they're gonna drive profit the story is the cut down on labor costs big time when they do this I think it I think it makes sense. We'll see if the worst for McDonald's and once or retailer has your mobile phone number they've got an important have you forever yeah operating quick break when we come back and Dan Ackerman for CNET is joining us to talk to us about the new Samsung galaxy X galaxy nine Smartphone. It's trying to go up against the new iPhone will see what he thinks of it we'll be right back from the financial exchange radio network. The financial exchange. Is all over Italy England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. Many of you listening today here probably retired or getting close to retirement age so have you taken the time to think about what happens if you or your spouse gets sick and needs nursing home care. What would you do if your spouse didn't have enough money to live on because you're in a nursing home in depleting your acids by thousands of dollars a month how long would your money last if you share these concerns than you need to call Cushing in Dolan they've got a brand new kind of this month called the difference between life estates and irrevocable trusts they can help educate you on how to deal with this problem your situation will dictate which product would be best for you. So give the experts at Cushing in Dolan called then let them help you create a new state claimed it will not only protect your assets from the nursing home but will also help protect your family avoid probate and potentially eliminate estate taxes Cushing in Dolan has been helping families like yours for thirty years and they can help you to call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange showed dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically NC rent dot net without the need to collect checks mostly in the produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required to zero and technology tell them to call this he ran team at 7816418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net after five year. Have no movement at all the Fed has raised the federal funds rate five times in the last sixteen months and two more rate hikes are expected this year how will rising interest rates affect your investment strategy hi this is very are strong and my team at the Armstrong advisory group has written a brand new guide about the challenges of investing any rising interest rate environment it's important to not make snap decisions and to always look at the big picture and this guy is chock full of information that you'll need to help educate you on making the right choices for you and your family. Interest rates can affect all pieces of your overall investment portfolio so don't miss out call right now 803934001. That's 803934001. Or download the guide instantly at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. 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 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. Cult 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 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. We wanna hear from you. Tech Steward Barry's 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Welcome back to financial exchange Peter how you're Mike Armstrong were. Thankful for you could join us this Friday afternoon we're also thankful to Dan Ackerman. From CNET who joins us tackle at the Samsung galaxy note nine this is a phone will cost 2000 dollars. Maybe 12150. Dollars in the end what makes the Samsung galaxy note nine worth a thousand dollars. We're really look into that category. Its own. Is a thousand dollars or were more than trying to set that the price beat that there were that we epic and he added a couple of new features this year over last here's the battery a little bit bigger and percent and got a big deal because they add them. Exploding bone problems in the past. But the main thing highlight is that people I would built into this that don't pick other for years. Now the stylist. Has Bluetooth and it and whether they entered. You can click a button on the ballot and will take a picture where you easily remote shutter you could use it Cuba. Buick remote control your power play poker not that he or or or OPE I get that cool but it really don't give a lot like Lester as well. That's pretty does some prequel that particular feature course we've had seen the thousand dollar iPhone acts. It's a tough thing to predict how do you think. Consumers are. How do you think this will be received by consumers is there are enough new stuff in this to justify a four digit price tag. Again the problem we've kind of hit a plateau in terms of old design. This lab that blasted metal and plastic looks a lot like every other lab let the middle of plastic. And convince people people would some new internal features are to find out dollar on the looks. The same and feel the same as last year's out now are vulnerable everybody your ormat. That's becoming increasingly confident that all these phone manufacturers whether Samsung or apple or anybody out. Really need to start pushing the boundaries aren't designed to panic and they do an innovative and different. Or people are gonna say I'm on the on is that or maybe bastard Miller but it looked the same like. Dent that my parents are here. There are few a few things that companies can do in their past that really make me turned off their products for a very long time and definitely phones the catch on fire is one of those things that usually makes me draw a line in the sand. DS. Have we seen that in Samsung's sales with their other phones. How do you get over that hump as a company. That's like a big deal to meet to alternately a year and a half later. Years later almost no one's talking about it guidelines shocking. A European EU the about kept up to their credit they did a very good job of being very transparent about their investigation and what they found that the different sides script they brought in to look at. How this horrible thing happened. But all of them. And print be very transparent and remember it'll be in a lot of information about back you know about that that fire think it was the worst possible time and they are finally bat. He basically beat apple by name beheaded you were more interest being bigger more feature packed phone because Apple's own pay you were frankly very boring. And then there get on there yet it our best at a back a couple of years. That kind of backed up to where they were now I think I think it was greatly ready shockingly short memory for things like that. And this or had a bigger battery inside there this is what everyone really should be watching out or I'm sure if the state they haven't at. Only five point check system that it out quicker but haven't a look at the batteries now. But the belt I'm for a while I feel like there was there were fairly forgiving. Bigger battery bigger fire fourteen I know any history say. The device looks largely the same as twenty sixteens notes seven in includes many of the same components as the S nine plus like the processor. And camera. Electorate is this is bad note nine of the galaxy S and as the at least smaller really more mainstream bone. And last year they had the new eight and the eighth. And these are you look and feel very similar on camera hardware is not upgraded systems software upgrade. Actually and stuff I think is pretty clever art on artificial intelligence stuck in the town where where you. Surely you know up X about an hour or a younger person or better. You know sports game built in the camera will that would take your picture out because it's wrenching depiction going to look like. Potted plant and that like that the white balance and all the other things automatically where you. Pretty clever I think it's we got more and more phone that's the catch. We'll Dan Ackerman wonderful to hear from you about the Samsung galaxy note manage we'll see in the media lest we rush to judgment only time will tell whether people agree. This thousand dollar 12150 dollar phone is really worth that much money can't thanks for your time. Yeah I. And I don't cocktail now call me old fashioned but I don't like phones that once caught on fire though I mean I mean I guess is by mistake he'll make 13 it's a stake in old. Most likable man are not happen again because they've gone through. Hours and hours and days and days of testing and making sure that doesn't happen again. I the only thing I don't get. Samsung has Boone. I guess the designation that it is the best Smartphone on the market correct on an iPhone. Mean. But what's really taught how to define best I mean like the best performing. I think it's the Boortz and if you look at the specs if you look at the tests done by in depend right companies and yes instance that the fastest processors best seeds. And and yeah pretty good Boortz a higher selling fall what's more popular. The iPhone right I had to hide if on the market worldwide I don't think Apple's best play and maybe navy. Affiliates apple that is apple that is the case I don't understand why register and be more competitive in terms of pricing. Like it make you eat 99 and beat apple. I only time I think there I think the United. States market here meanwhile apple or is the most popular phone here. Yeah it does not necessarily. Applied to the Chinese market I'm just curious. What is it. How away away away the use of the Chinese delegates censure mean that's passed that that's huge. So. Thousand dollars phones. I can't justify in my in like Dan said you know we've reached that plateau. Market yes and I what's so special about this phone and there isn't years then you know terrorism dollar pricing you know it's for me I've had the same iPhone for three years now I get the six ass. You know war what are we on the phone time. Yeah or acts or yet what are you know we we actually do call back here at the financial talkers a man who sticks with what he loves me it until it dies. But yeah. Thousand dollar phones are just now know thanks and not in my hand in the cards folks coming up. Trivia time steely jolt trivia. Coming up on the next encouraged exchange get your fingers rates tax. And six and anti stinger 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. Many of you listening today are probably retired or getting close to retirement age so have you taken the time to think about what happens if you or your spouse gets sick and needs nursing home care. What would you do if your spouse didn't have enough money deliver on because you were in a nursing home in depleting your acids by thousands of dollars a month how long would your money last if you share these concerns than you need to call Cushing and Nolan they've got a brand new guide this month told the difference between life estates and irrevocable trusts they can help educate you on how to deal with this problem. Your situation will dictate which product would be best for you have give the experts at Cushing in Dolan called then let them help you create in a state plane that will not only protect your assets from the nursing home but will also help protect your family avoid probate and potentially eliminate estate taxes pushing in Dolan has been helping families like cures for thirty years and they can help you to call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange showed dot com. After five year. Have no movement at all the Fed has raised the federal funds rate five times in the last sixteen months and two more rate hikes are expected this year how will rising interest rates affect your investment strategy tie this is very are strong and my team at the Armstrong advisory group has written a brand new guide about the challenges of investing any rising interest rate environment it's important to not make snap decisions and to always look at the big picture and this guy is chock full of information that you'll need to help educate you on making the right choices for you and your family. Interest rates can affect all pieces of your overall investment portfolio so don't miss out call right now 803934001. That's 803934001. Or download the guide instantly at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are unaffiliated. 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 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. Coach AZ 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. 8621190. Or he can visit them on line at easy plumbing MA dot com for more information. Mass master license number 10. 183 again the number is 781. 862119. No privacy is chuck and Mike from the financial exchange in. One of talked a little bit about how to invest any rising interest rate environment the Federal Reserve has raised rates twice already this year. The most likely projection. Two more hikes over the remainder of the year and Mike. Let's talk first with bonds when we talk about bonds and conventionally US treasuries. How they tend to move as rates go up well. They tend to be in adversely correlate the price an abundance embers that correlated to the interest rates prevailing interest rates that are out there in this generally makes cents you know if if interest rates go up and suddenly you can go by that same bond that's paying higher rate of interest that the price of your bond is going to be less valuable this gets inflated the longer term than bondage so if you have a ten year bond. That price impact is going to be a lot more significant than a five year. So effectively that the part of your portfolio that you typically think to be safe money and most stable. You might have to make some adjustments in order to make sure you're not losing principled during this time if you have the intention of selling as rates are going up. That's absolutely correct and if you haven't made those adjustments already this year you've likely seen in impact to your bond portfolio. Specifically when retirement that you wanna take a look at what's called the duration of your bonds. And make sure that you know it's just at least in line with the overall marketplace and you understand the impact of rising interest rates on. Folks the Armstrong advisory group is put together a brand new guide titled how to invest any rising rate environment. It is free for you to get and only have to do is call 80393. 4001. Or go to Armstrong advisory dot com in the title is how to invest any rising rate environment and call 80393. 4001. Or Armstrong advisory dot com. Securities offered to securities America incorporated member Finneran SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Marion Jones can no finances and you care about your fine it's good for you know Barrington shot. Leaving here for the financial exchange on the financial exchange revealing them work. Well I had to that before the break it is trivia time we do trivia every day here on the financial exchange or trivia contest has brought to you by Arnold's lobster and clam bar located on US route six in the east and Massachusetts. Also as a great selection including lobster rolls award winning fried clams and terrific onion rings and coastal magazine has selected Arnold's as the ninth best seafood dive all of all time in the entire country. In golf five point 2552575. Or visit them online aren't restaurant dot com by the way so Billy Joseph Foreman tonight at Fenway Park. I'm not going unfortunately but he is performance night and we parks and therefore we are doing trivia about Billy jewel got a pretty I think is a tough. I think is tough yeah the first two ones were pretty much meatballs Rea really gets out and up so Brit take a third. Right answer third corrects text that comes into 63566. For annually has never participated before you do need to text buried BAA RR wise that text line of the week and give your answer. Here's the question reading when Billy jolt was just sixteen years old he played the piano on a number one hit released by shangri La. What was the name of that hits on. Again when he was sixteen years old played piano on the number one hit released. By shangri La what was the name that it's on texas' 63566. And if you're with the winner getting to her. It's tech believes the old guy here I think it's technically the shangri lines. Strikes me I never heard excuse I don't know this is like. You know decades before either you were born but college the shangri lines. Now the last Texas in Hampshire and get a number of correct answers but lateral moves to address there were left you'll announce the answer after. After this. If so that's a little bit about the housing market red Finn has a particularly interesting take on you know what goes on housing market. Because they are both the real you know they're realtor they have at time employees that are you know. Realtors but they also have one of the most popular real estate apps phony applications out there for people to search what's out there on the market. They have pointed to a significant. Slowdown in recent weeks. Unexpected drop in red and bookings growing in the last three weeks and a decline in US home sales in June. They are expecting it to reappear in August and September. So. They are predicting an athlete at Redskins got some real the pretty good data. On this sort of stuff out huge. Volume of data and you know it makes sense is it's. We're overdue for housing it's so expensive nobody wants to buy an anymore so they stop buying so housing prices. Come down and I I keep advocating for it to have like a standalone signaled its own bumper music talkers helped search. One and oh how's it going for Tucker and his quest for affordable real estate so it's. Actor's answer to that worries me sank Sox before you get there about. Do you use in app on your phone with a real Alia zillow among that multiple times today I realtor dot tried red than. More I. Much. Like Gretchen. No right I don't really understand the offer never I don't really get their business offer. So red skins business opera I mean you can just use the app for free yeah Steve's the they also have so I think is zillow and Trulia and all that stuff they just basically lights if you request and appointment or something like that that they just send you to a local real stage and get market. Wears red and has dedicated employees in that market and there whole sale is. Hey are agents are way cheaper than outrage and if you're gonna list with us it's only 1% listing fee as opposed oftentimes 2% listing -- if you buy through us we're gonna give you backs in the commission we receive from the selling that's that there -- sale but either way the app is pretty yeah similar it is truly. Industry grills and a problem it's all the same page as policy prescriptions I was going all the data for yeah I mean it's literally when you brought up housing automatically just want to as the largest seed they're updates which there art. Very it's a Redskins given us is the is that an obvious. They're there earnings are going to be impacted by this there's a pretty big slowed and read through an Aussie got to keep in mind I'm like zillow Trulia there are not everywhere. Yeah their specific markets that they earn on and it lasts much I don't think there even in New York City. He's again day hire their dedicated agents and they don't have agents and market it. And it should be. CO one common they called out Seattle Portland. San Jose three areas in the US where imagery still tight but is not pushing prices. And so it's. Possibly you know blanks moved west to east and maybe that's where people are just saying no you know white but I am not moving I'm not buying. A house at this price iMac on got a mortgage to buy one I'm waiting for prices to come them. So I know it's all been little data points but there's been a lot. There's a lot of good a lot of the smell of smoke. Today if you smell smoke for this it's only that a few weeks. But a lot of indications that we could be seeing a slowdown in the real estate market which. Maybe we need cooling off for. JC Penney which. How was this company's missed. I'll have a as anyone in this room bid inside JC Penney with in the last five years. I walked through one like months ago to garlic is your car to go to the mall and then to get to my car but no light and shopped there. It's walked. Nonetheless JC Penney news. I think this makes sense JC Penney's opening 500 BB shops amid the closure of babies. There should be some business to gobble up here and the promise I see it JC Penney is facing to latch on to. Any. Tiny little trend that they can find us when hers there's trying to sell appliances stores. Oh yeah you don't get else does that Sears. If they do things to mean here we over talked about JC Penney BR that's good for JC Penney two it's up than but we're kind of talking about a minute humorous manner though just in the Baltimore city is good publicity. Stripe cribs high chairs strollers car seats. You know I would it's my kids are older now 2127. Team but. Even when they were little babies RS to me was to specialist it was too much stuff. In one place and it it necessarily wanna go into one story and go all right this giants are looking for one season. You know into crib liner and stuff like that to the idea of a small manageable. Department in a store reduced death Peter wants to buy for Peter and Alec. Yeah so interesting move by JC penny there is there should be business to gobble up in the specific leaned BB area beaches. Right now the only dedicated baby stories I've maybe it's nationwide. Sales just 120 stores yeah it's not a big change. A little you know on tester but more trivia for you and Tucker sorry JC penny stock. Peaked back in 200780. Dollars and 31 cents per share weird things straight today eight dollars. Our six dollars or three dollars and one dollar two dollars and 44 cents. Gotta gotta hope they don't break the buck. I'm sir what do your resume let's worry rice before the financial crisis there has to do a forty share while. Those 2441 reverse split. And a stack up to eighty that is rough. Yeah it's. Folks this is Mike Armstrong and you've heard us talk many times about the rents an online rent collection product for landlords. It's a great service for landlords allowing them to collect tenant's rent payments electronically at WWW. Does he rent dot net without the need to collect checks. Mostly of those that I know used local the neighborhood banks to do their business and now. A collection of local banks are offering this unique program including leader bank in stone bank members FDIC. If you're a landlord and are interested. In having your bank required to zero technology tellem called Lizzy grant team at seven A one. 6418691. Again at 7816418691. Or visit Z rent dot net. Stop chasing down late payments and running to the bank to make your deposits get your bank to add zero to its list of offerings visit WWW does he rent dot net. Or call 7816418691. For more information again 781641. 8691 or you rent dot net we're gonna take a quick break when we come back we're going to be joined by Paula Monica end. Tell you who won the trivia contest stay tuned right here at the financial exchange radio network. It's Marian Cilic in the financial exchange on the financial exchange radio network after five years of no movement at all the Fed has raised the federal funds rate five times in the last sixteen months and two more rate hikes are expected this year how will rising interest rates affect your investment strategy Titus is very are strong and my team at the Armstrong advisory group has written a brand new guide about the challenges of investing any rising interest rate environment it's important to not make snap decisions and to always look at the big picture and this guy is chock full of information that you'll need to help educate you on making the right choices for you and your family. Interest rates can affect all pieces of your overall investment portfolio so don't miss out call right now 803934001. That's 803934001. Or download the guide instantly at Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 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. Coach AZ 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 call 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. No. Many of you listening today are probably retired or getting close to retirement age so have you taken the time to think about what happens if you or your spouse gets sick and needs nursing home care. What would you do if you're just didn't have enough money to live on because you were in a nursing home in depleting your acids by thousands of dollars a month how long would your money last if you share these concerns then you need to call Cushing in Dolan they've got a brand new kind of this month told the difference between life estates and irrevocable trusts they can help educate you on how to deal with this problem. Your situation will dictate which product would be best for you. So give the experts at Cushing in Dolan called then let them help you create a new state claimed that will not only protect your assets from the nursing home but will also help protect your family avoid probate and potentially eliminate estate taxes Cushing in Dolan has been helping families like yours for thirty years and they can help you to call 8668485699. That's 8668485699. Or download the guide right now on their website legal exchange showed dot com. Hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about this 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 -- -- call the Z deposit teen to get started at 7816418691. That's 7816418691. Or visit them online and see deposit. Dot net member FDIC leader bank step ahead. Security suffered through securities America ink members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. What's hot and what's trending. A world of finance find out from Barry Armstrong and chuck sought out on the financial exchange radio network. This segment financial exchange has brought you in part by CU's senior safeguard and educational program designed to protect the elderly from financial abuse your senior safeguard credit unions Massachusetts New Hampshire Rhode Island and Delaware training and certifying their team members. To recognize elder financial abuse. And what to do in response you can do your part as well does it better values better banking dot com for more information. We're joined now about Paula Monica to talk about while I've been calling it the circus that is Tesla Paul thanks for coming on. Where there where do we go from here with Tess I mean just get technically speaking what does the board have to do at this point. Just. I think you have a board. Have to seriously. Evaluate. Whether or not the company should go private thing in Hamas has put the company in play essentially with. This series if tweet then the blog. A a couple of days ago whether or not test like in. Actually go private in Seoul remains to be seen obviously but. Something that they applicants that are. You look at that age you study the stuff all the time the entry talked to a lot of analysts a lot of board members of what is your take me was the board just completely caught off guard by this actor that's. It caught it seemed to cut you know catch most people that I've talked to completely off guard do you think terrorist completely you know sideways that's. I don't think they were completely. Caught off guard in this statement that they put out. After the actor's between he seemed to indicate that. Yet as the conversation it adding I think what they might have been caught off guard by. Was the fact that he's on mosque was going to start tweeting about it. Making it. Some things that went from just being private discussion in order to do. What have I believe of followers now all planned out what. I mean it certainly doesn't seem to me like any. The big shareholders had any inkling to sesame new day you haven't heard fidelity or any of the big guys come out and say. Oh yeah I am we've been we've been talking about this and we are aware that. What is this all mean for for eagle on personally do you think. I still think that it would have moved him to maybe. Put the the phone down and stopped reading them watch it not alone Linda. Having that I mean that's actually what you know big shareholder. That Billy get very you know Scottish investment firm it. One of the top five owners in test I mean in the eight to this story there's mr. Bloomberg a few weeks ago where. One of the portfolio managers they're essentially that that be you know which is that most would. Not be. Focus on. On social media that it would use if you look at just all the different things that he almost chuck. Like right out to be one thing if he just had the unprofitable company is at all. The you know spotlight that comes from. Being deceit you know that company he also got space. Also got support company in the area a group ventures and then. In just a whole lot for one person there are only 24 hours to days seven days a week. With a phone that. If you're sleeping at the factory and maybe leave somewhere. Now it's it's just too much I think most would immediately took up a paper I think I. I mean clearly the markets take on all this is that. It's their time out for twenty a share going private it's trading at 356 right now I mean most people seem to be doubting that this is happening. Yeah it's come all the way back to we area laws of war of the testers between Donna. Tuesday so I think there is a lot out there and about whether or not. You know that would happen in that mean I think they're variety reasons why and its it is an issue. How actually you know accomplished. But to mean. If you've already long term investor you are one of the beavers in. Electric cars and E'Twaun mosques storage. To you'd think that he's war. Henry Ford in PT Barnum and we just Ellis poured in twenty dollars which is not tactic for premium Q. Where the by orchestrating now after a long term believer than fort twenties would be you know relatively. Low priced itself. Well one person I talk is that that you know what that number starting five is most of sport sort of a non starter. You think that's going to be the the perception of a lot of the smaller individual investors here. Well I think what's interesting is that. And there are real questions that we just don't have interest to it. What is must mean we're you could potentially have the company B soul be pride in the bills all on. To be equity stake currently. Sort of like what you know summit bastard have with. Base bag and fidelity outing they they expect the other just a lot of questions about the mechanics do you. Own a couple of pictures that you don't want it now Al. What does it mean that in your pride in use you know have but it turns. Out get out the the exit strategy where's the acquit. Yeah and now lots figure out and not a lot of we did tribute for the break and I do believe we have an answer Peter there are winner. Who is who is our winner was who go back to the question yeah a bit about Philip jolting you out you sixteen. Play the piano and a one hit released by the shangri las. What was the name of the sun the answer is leader of the pack and the winner is Mary from Milton congratulations mirror from. Milton you were the third. Person to text him with the our cancer Mary you we are sending you wait fifty doctors to give for you to head and Arnold's. Lobster and clam bar located on US route six in east him as chooses to start draft and after Milton and you'll be either before you know it today post magazine voted Arnold's in the top ten seafood diet of all time in the entire country. So get down Arnold's check out their Greek prove yourself call 5082552575. Or visit them online at Arnold's restaurant dot com for more information marry for Milton congratulations. We had a whole on the website financial exchange showed dot com today is all about Lugar. Should all cities put a cap on Hoover and lift the overwhelming responses being 61 and a half percent same note do not put a cap. On Hoover left. Yeses accounting for 38%. I'm not sure I agree with that and at some point I think they're just needs to be. Cap worse maybe not a cap more restrictions. No drug testing on these were drivers today he really easy to sign up and very few restrictions to it but nonetheless most of our listeners saying no no cap maneuver and lets drivers. In most guys in most cities. Checking in on the markets. Mid the turmoil in Turkey Dow Jones off a 163. Points this Friday morning. Zero point 64% down S&P 500 down thirteen and half points. NASDAQ down thirty points as we sit right now today actually checked in on the price of oil I got one of we got wrecks it. Pavel we call this to her boil. Turk one look now like it if it. Price of oil up 79 cents one point 18%. Price of gold. And down Tracey gold actually up less than I was expecting I was thinking with all the turmoil will be a little bit more but up zero point your 2%. And interest rates down across the board US ten year treasury down to two point eight. 77%. That flood of Turkish Lira requested by president her Oregon has not. Doing the price of gold imports doesn't seem to be at least not yet. You know IA taking a look at that has the story further away. If Paul always a good point we're going to be talking about this for weeks and weeks to come funding secured. What an ass. That's all the time we have for this week of the financial exchange tune in next week and have a great weekend everybody.