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Full Show 10-4-18

Oct 4, 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. Economic data is strong yet the stock market is selling off. But we have a clue hi everybody it's Berry and chuck with you here it's a Thursday morning and chuck you warned us about this several months ago you said very am worried about the bond market. And I saw this 10 year treasury this morning some of your story three to one point wow. Yup which we haven't seen that since 2011. Bond markets rule you know the every makes a big deal out of the stock market going today. The bond market that is where you go home to find. The lack of emotion that name bond traders are very. They're like the engineers where's the stock market is full of people that are the marketing itself. Yemen is that the bond guys are than they're than nerds Mary they're the ones that are sitting down and in figuring out look when when the rubber meets the road if things actually go wrong what's actually you know be what is this bundle will be worth what's this company going to be able to pay turn and you have the ten year US treasury as of right now. In about three point 19% just shy of that 3.2 handle not that we hit this morning so you've seen. Pretty rapidly now this is in a span of really about two weeks in a significant sell off in longer dated treasuries to go back to the middle of middle of September okay. Seventeenth we were 299 ons so you've seen almost a quarter point increase year. In a span of two weeks now out of stock that doesn't mean match but I don't bond that's meaningful. It is an in specifically when we look at what this is done this is brought the dollar. A significant amount of strength in that over that time span now you've seen the dollar wind compared to. Really it's it's a broad basket of currencies that we compared to we've seen about a 2% strengthening in the dollar since the middle of September. And that's something that is going to end up weighing on equity markets when it's all said and on. The good thing to remember here is that he goes to 320 and stays there for six months or year not the end of the world. The more the bigger issues that trend as you worry about me at the does this 320 become 340 and as a go to 360 and then all of sudden is it for twenty unit that meant. Then you have a problem. Well and I'll tell you the place and in no one's talking about this right now but. The US is having a difficult time auctioning off treasuries as visit the parent okay. And so you get to a certain point here. And the fact is that interest expense from these higher interest rates are going to start eating into the budget it's gonna start pulling money away from other programs. And it it kind of creates a spiral there where eventually you you get to the poor people say look we we don't necessarily want to be buying that US debt anymore. Right right about I worry about the slow but US weekly jobless claims dropped to eight near 49 year low I remember. When you back you know on this is cash along time ago 3540 years ago learning that if jobless claims were under 30350. That was a pretty good number. Now we're 35 years later. We're hitting jobless claims numbers of 207000. For the week that's as low as I ever remember. Gets good numbers that you're seeing here at Indy is a 49 year low. At the moment here so you continue to see despite you know some of the concerns that we're talking about internationally and so forth. The job market in the US keeps humming along if you are a worker who was unemployed or you're in a job and you say gee I'm not sure I'm happy here it is there's something better out there and it's a great time to be looking for a job pressures it is in. And I mean again you you give you heard anything on that Merriam workers' strike him. Nothing yet that the Boston 10 yeah no I haven't heard anything there yet we're going to be talking about a couple other. Labor disputes that continue to bubble up just because it seems like right now every day there's another the big ones the Teamsters. And that's coming to a head in two weeks a vote today on their votes coming up and that you wanna talk about something you bring the country to halt. The 300000 Teamsters that decide to bottom straight up and up. By the way also was another piece out there that is somewhat it's concerning just as we are talking about concerning data points. For the upcoming quarters the number of companies that issued negative earnings guidance for the upcoming quarter went to north of 75%. That is the highest level of negative earnings guidance we've seen since the first quarter of 2016 and I'm so surprised that all tax cuts between the rise going upward so in Q1 and Q2 we were down at. Below 50%. And in in Q2 we were at about 57%. Yup spiking up in knocked in Q3. Simply because I think there's a lot of Botox it it it's input costs in all though again that's South Korea number I mentioned yesterday with overall net exports down 8%. There is an international slowing that's happening interesting to watch folks it could weigh on stocks market is down today. 131 points on the Dow I think a lot of that's based on at a higher rates that you are seeing the markets trying to figure out it would just of that but watch some of these things going on internationally again were. Really strong domestically right now. I think the international questions is are starting to get pretty significant. All that glitters is not gold yesterday we reported on Amazon and raising worker pay. To fifteen dollars an hour the minimum wage at Amazon is going to be fifteen dollars an hour. However. Here if you don't lose your stock he used to be if you work today and design your warehouse worker and Amazon. Minimum wage worker you would get one share of stock every year. Yeah and an end to do the math on this so Amazon's stock right now is trading about 19100 to share a little little bit less than 2000. And so effectively your break even here is if the bump up to fifteen is gonna be less than 2000 over the course of that year a year you're gonna be losing some compensation when it's all said and done. Now in order for to be in this is for a full time work OK some due in 2000 hours a year or so a standard forty hour week. Someone not part time or anything like that. But if you are doing. 2000 hours a year and okay effectively you would have had to make north of fourteen dollars an hour. In order for this to have cost you money now okay so if someone's making 1213. Or even eleven dollars now or in one of these Amazon facilities. Even though they're losing their stock options it's still is gonna end up being a net positive from a comp perspective. TV all the wage postings that I would see chuck were saying the warehouse job for pain sixteen or seventeen dollars an hour anyway. We're in New England now. Or easiest classics unless we act I I do what I've actually talked to a couple folks that are out in canister the Chicago area. And do they get away with a low wages are not nearly as high and it's you're you're talking. Eleven or twelve analog he's the the the the thing to watch here. Will be what is this due to worker incentive one of the best things you can do. From a motivation standpoint with your workforce is to give them equity in the company. All the sudden now they say we'll give higher wage were to take away the equity what are with that goes to morale I wonder what that does to work ethic. A wonder that what that does in terms. And he is dead innovation and A you know you you're you're you're saying to the workers now. Now we we love being ordered pay an extra blocker too and our. You know Indian stock. One question that I have that I don't that we don't have any data on his. How old people typically stay in those low level roles and Amazon you know. I don't know if that's a position that people do for eighteen months is they're building up other skills I don't know if it's something that people view was a long term career and they do for two or three years trying to become a manager in one of those facilities. We we don't have any data really on how long people stay there. And so this is the kind of thing that you would expect would impact not short term turn over 'cause that's gonna happen anyways. But people who otherwise might have stayed longer term this it could be a concern for Amazon on that front. We'll see we'll see. China is raising billions in a rare US dollar debt. As trade tensions persist China is planning to sell three billion dollars in US dollar bonds this month. Wooing foreign investors as time of heightened trade tensions with the United States and turbulence in its own stock market. So as bad as things are here in the United States as a released our bond market can you imagine China trying to races debt who's gonna buy. In you talking dollar denominated bonds was so here's the thing this is in my opinion this is a canary in the coal mine on the dollar. The reason why they're so they've only issued three dollar denominated bonds in the last fifteen years. Two of them have been in the last year now why do you issue a dollar denominated bond if you don't have to now I don't know. Because you don't think the dollar's gonna strip. You think it's gonna weaken and make it easier to pay off over time okay. This in my opinion is a canary in the fact that they're doing to these new year and then it's suggesting hey look we think this is a pretty easy way. For us to be able to pay this off in the long return that that's how I read into this OK so. It could I just think in about a from an investor standpoint. Because you're YouTube you're buying and dollars but you're relying on the Chinese to pay it back. And there's not much of the spread between I'm looking at the spread between the US treasury in this Chinese traders not much use. Brett know that there isn't it's only about a third of a percentage point above is what you that's that's all that you get on these Chinese dollar denominated bonds here. What's interesting though is think about it China has a centrally planned economy. If if they don't want to default on these bonds they won't. But they have to pay him back with US dollars that they they do but keep in mind like it in this is why I think it's a sign that they think dollars going to weaken it and why else would you issued debt in a foreign currency if you don't have to. What else I just the I wouldn't I would would you buy one of these what you need your clients. Will Indian clay yeah the bonds come to market let's say become as they get issued. In November. And you can buy them on the open market they pay a little bit more than in treasury for your client would you buy one of these bonds declined to your big your your banking on their ability to pay that. When overnight I don't need to. You know it's the these are not targeted US borrowers dirty our US lenders cut it these are being targeted at people in China effectively have dollars and are saying look. Partly I think this is also try to take care of capital flight out of China hook by saying look you're something great investor you don't have kind of its dollar denominated right in you don't have to buy a Condo in Manhattan right you can buy and it'll be liquid I think at the two issues that I see your hate trying to stave off capital flight and be they think the dollar's going down in the long proceeding going to be subscribe fully the last was oversubscribed significant. One do you would you buy China wants that's our poll question today he can participate in the poll by visiting our web site. It is financial exchange showed dot com coming up. We're gonna be joined by Gina colada from the New York Times anybody who's on cholesterol medication. You don't wanna stay tuned for this. Next segment because gene is gonna talk to us about. Cholesterol producers may save lives so why aren't part patients getting them. Good question writing you know so it high cholesterol or has heart disease. Why are they not getting some of these inhibitors that might save their lives that's what we're talking about next on the financial exchange. We wanna hear from you. Thanks Steward diaries 263566. And let us know what you think about the stories we disguise your team to the financial exchange radio network. Many of you listening today are most likely nearing retirement age and if you haven't -- deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting pouring into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income will -- applicable trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. That's 8668485699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy 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 either experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy calming at 781. 862. 1190s that 781. 8621190. 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. Hi everybody it's very Armstrong and Jake two Lian we're talking about a program called Z rent. Now this is specifically. Designed for those of you who are landlords and used to collector checks with paper checks are gosh maybe still do. Will Z rent allows you to collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords. Absolutely vary so we we develops he rained two out of me the whole write it because right now. You know with the landlord when you're getting rain checks in the mail it's low it's unpredictable. 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They could sign up and become part is the rent yup you your if you have a community bank that wants to be a member happened Collison will have and sign up and the service will then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net even give McAuliffe he wanted 8776917900. If your bank doesn't offer it they can sign up for zero it go to zero rent dot net or call them told free. 8776917900. Security suffered two securities America income members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated stock tips so. Gary Armstrong and shots it's the financial exchange on the financial exchange radio network. Joining us on the line now is Gina a lot of from the New York Times you talk about the next generation of cholesterol. Reducing medication wind was really taking them today Gina thank you for joining us. Jeanne can you give a brief overview just on what this next generation of cholesterol reducing drugs is and how they differ from something likes that means. Security their trucks that were inspired by this country that there are people that. Cholesterol levels that are so low that all but impossible I think it almost. That bad cholesterol. I'll tell ilk. The paint it kind they're perfectly helped make the effort Gephardt to see so. Two companies weekend and be better and am Kent decided they would make. Truck in Arabic. Gene mutations that a cholesterol levels so low it is people. And they receive this and their trucks that get rebels out of about it. Number nobody. Ever really seen population. And they also found that the people we're not getting heart attack they expect Iraq to protect its dying of heart disease as badly but of course. These are expensive. But it's not so that prices over 141000. Year. And ensure that by who who. Get but it didn't negotiate discounts that the company's. Still felt that this was just you by as many as ten million Americans here but could be eligible. And even with this Catholic there's just too much. Those that in order to limit the about that they had to say they started they vary vary if the both repaid ticket deterrent. Requiring altered the occupation. That they heated than it did dying man and did I hear appeals. Well. You're not abide story was about it. It looks like that there's been compromised because the companies were able to sell their drugs and the insurers are hearing a lot of people who are pretty up that because it could get. Abbott company day I went where you at least throughout our. Now they're pretty are they expensive but I despise. But they were pretty expensive to develop as seven feet we can't but I'll leave it. Because developing its you and get it in a group with two point six billion. There ears become the global mail beta and he died five billion. That they said. You know it really hurting and bill would get there real and it really was because they had spent so much idea that they believe this that they thought it was a great. People could get it. Gina I don't know if you have any data on this is obviously the focus of this story. Was on the the fact that people couldn't get these drugs you mentioned that two point six billion dollar R&D figure on this drug. What what's the biggest component there is its salaries is that lab equipment to do we have any idea wide drug development costs are so high. Now I've got I really don't know but but but I've always hurt but it went with big big conflict but without their very very best that can make. They they have debated but it sells it that this but he happened at a barrel laboratory but emphasizes factory. But we're at it that. You have to tested throughout. About the about the people three years in years and document everything that happened to them. That can't really really expensive. And back to recant her on with this developing the truck up until that time when they had excellent to human the trial. Partnered with mad at me because that it has become the open then you about what it is time. Jane as you mentioned that access to these drugs has been easing up in recent years can you talk a little bit about why that is and you you mention that the cost on some of these would be north of 141000 dollars for the sticker price how much are insurers actually paying for at least we know. We only know a little bit what went there that we protect our is that they there has there is a group that an independent group. I hear that does it get that it's not you know that a truck come through. At the content that that it counties and it has said it throughout would be. Cost effective if they were picked by between 4007. About the the year. And Greg Jenner that you beat Mara as it is in December that he ended deal that it made a bar. That's the price if that was the brains they would give me exact right you know it looks like it's hampered that they're preparing. They also claim that the sticker prices artificially high because. The company's debt debt and curator at the battle and physical in bad actors. Of course in it didn't count back to them and all that to be sure and maybe some of the page so. They've won sticker price to be the house elections that back at them and I didn't get very complicated it but I think again. Absolutely Gina we appreciate you taking the time they we've got to run but thanks again for joining us accurate I expect that is Gina caught up from the New York Times talking about this next generation. Of of cholesterol reducing drugs by the way the name of these drugs that the type the class of drugs. They're called PCS canine inhibitors and miracle drug. That pretty much except the park the price is not quite as miraculous and help yourself and it's it's. Very positive though when you think about your your efforts to try to combat heart disease and strokes. I mean that is a drug raid that became mass marketed that's gonna have a huge impact in mean heart disease is still the number one killer in the United States yet it always has been. The question really becomes whether it's cost competitive. And you know that 141000 dollars a year. You don't take that for a year you get to that forever or to keep it down okay so what they say 46000. In that ballpark now okay so you sit there and say gee if I'm taking this for fifty years is that reaching the insurance companies are looking and it's an okay. If Berry has a heart attack it costs us 200 doubts about 750000. The average cost it looks like give her heart and lack of it of treating a less severe heart attack on I'm just pulling this up this according to over the course of my life. Yeah this is it that's not just the hospitalization that's you know all of the treatment and ever. Again afterwards there's little or two of my neck started that. We're back at my first heart attack patients and that seems high I don't know where that data is coming from again do little but more recent job coming up for talk about UPS mechanics. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the 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. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is called today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 8621190. Or you can visit them 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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Or zero rent dot. -- many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert -- elder law in the state claiming so you're just starting pouring into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income will -- applicable trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. At 8668485699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange -- dot com. Hi this is Barry Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to attendance -- called the Z deposit -- to get started at 78164186. And 91 that's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank a step ahead. 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C rent dot net to learn more we see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months -- free for all landlords visit WWW -- see rent dot meant to learn more or call 7816418691. Time now for the street watch a look at the market's performance so far today victim Marian jog right here on the financial exchange radio network. It is time for Wall Street watch presented by leader bank it's not too late to get a great rate on your home mortgage and leader bank. As some of the most competitive rates in new wing little dedicated loan officers to help every step of the way call 8776917900. To learn more member FDIC. Equal housing lender and in my last 449250. Subject to credit to. Little. Stock market sell off the start to get serious I've got the Dow down 241. Points the S and p.'s down 23. And we're attributing. This cell law off to the bond market yields on the ten year treasury have you reached three point 19%. That's gonna put mortgage rates at. Close to five. He I like 4849. Some more now ballpark and that's if you've got real good credit. Yeah you know if you don't have good credit you're north of 5% on a on a fixed rate mortgage for thirty years. The it's. You know golds up a little bit but. This the sell off that's happening here by the way if we go and actually look at you know what is selling off just as. You know you're down from about 1% view of the north that on the NASDAQ if you take a look at what is selling off. The newly created communications services. Sector down one point 6% that's a lot of year. You know social media companies and things like that tech is off one point four consumer discretionary off one point two. Health care off 1%. The only two sectors in positive territory today. Energy which it expects oil prices are still holding stable. And financials are up just as interest rates despite you know a tenth of a percent in two days which is significant there you know and utilities down because of the rise and interest turn yet utilities down about point 4% so they are feel some pain today as well this is what when you look at what is moving. It is a pretty clear indicator that this is the cause of interest rates and that's the biggest thing that you're seeing. On this one where we ever seen a lot of commercials in a lot of battling going on as it relates to question one that is the nurses now it. And I'll tell you what I I don't know what you guys think about it but I think both sides are lying through their teeth as as a relates to the ramifications of this vote. Well what what I think on it is and if you're not familiar with question one in Massachusetts it's a question that word would require significantly in increased. Staffing levels of nurses at hospitals depending on. You the type of patients in the type of care that's needed several thousand current the estimates are that it would be anywhere between two and 3000 additional nurses that are needed and yeah. Why am I being called on to decide hospital staffing levels and viewer I know anything about running a hospital. We don't. You and I are probably the two worst people to figure out how to run a hospital but we don't understand anything about you know how patients are cared for we understand how every other day about. Well they got enough signatures were OK the nurses union got enough signatures to be able to put this on the ballot now okay. And to me when I look at this it is a labor battle that's being conducted on the ballot now in in my opinion. It's not that I think it's right or wrong that they should or shouldn't have more staffing. I don't know is I'm not a health care expert in terms it's of staffing I don't know this this should be something. That is handled by the boards of each hospital or by the state of Massachusetts with an expert commission that comes in and says hey here's the staffing that you need and by the way that's what they do right now. It's not like there's no minimum staffing required may have staffing requirements this is going around that saying hey we need more staffing. And look maybe they do I don't know. But the fact is you mean Tucker have no idea what's actually going on and Haas. So here's here's where I weigh in the nurses are lying in there saying in Italy and cost 47 million bucks a year which is just not possible they I think airline it's just not fun and that's where they lose my respect. Is by being dishonest or disingenuous as it relates to the that the cost. And where I think. The what do you think it would it would think including. Benefits what do you think an average nurse makes not not in Boston percent of its high cost but in in Massachusetts including benefits including benefits because he only got one they would benefit at 12150. OK so let's let's take the middle there 130 we'll call right now. If it's gonna cost 47 million dollars and you'll need 360 nurses throughout the entire state nor to get up here. Which if you only need 360. In the problems not that big actually which means you didn't need to stick it on the ballot. Well OK so the nurses I think are being disingenuous in terms of their forecasting is it relates to cost. And I where the hospitals are being disingenuous is saying its socket to improve care and he just common sense would tell me. That if I walked into a nursing home and you got one nurse covering 24. 85 year old that are in a nursing home that you know it is that if they're gonna get better care than if that same nurse has to cover 26 patients and owners and is that say that because that's what they're talking about right 26 vs Tony for. What is it depends on exactly what what. Type of carrier talking about now okay. In some case that I need dig pull up the the actual question is in some cases the lake if you're looking like yeah women who were in to give birth yeah okay. It's a significantly higher requirement in a lot of times someone comes and checks into hospital give birth and then I'd be sitting around for twelve or fourteen hours before they even do anything. And so do you need a nurse on staff on hand on my daughter in law she got there she barely made it in time. So I need to pull up the specific numbers just because I wanna make sure I get this right when actually you know talk about what it is just his kind of important I wouldn't let Hillary go so the polling on this is very tight 2 AME everything average track like this is neck and it probably is but so here's the media here here's what he got so in units with stepped down and intermediate care it's three patients burners maximum in years with post anesthesia care one patient understood under anesthesia per nurse to patient post anesthesia partners. In emergency. Services department. One critical or intensive care patients per nurse. In units with maternity patients here's the one that I was getting an active labor patients one patient turner said OK you won't be that kind of makes sense. During birth and and for up to two hours immediately postpartum. One mother corners and one baby partners. So first of all one mother person Wendy's I mean 82 nurses on hand for two hours with each and every mother. Because that means they can't go do anything with anyone else you know and and you sit there and you say. This this is something that. I'm not saying it's bad luck comes back to you don't understand it. And I don't know if this is going to make it to that more babies live I don't know if this is gonna make it to the more mothers have fewer complicate like. And we're gonna voter and I'm not a medical professional but you're telling me to vote on on how people are cared for hospitals. Man this is worse than trying to tip the wait staff you know and I struggled with that you want to decide how many nurses we should have the passes. Do Tucker. It's close. The suit 5850 click all the polling do you think it passes it he if it means business I I do think it ends a parent loves their nurses and the problem we didn't we did our personal poll and those 5050 that last week. That the two things that almost no one ever votes against just is again we largely don't understand and we always want more than education health care program note no one ever says oh yeah give me less about. Now mostly. Speaking of labor issues UPS airline mechanics just rejected a labor deal now here's what happened. The union leaders went to UPS management and said this is what we want they agreed to this deal. Then they put out to vote and members shouted down in the mechanic said screw. It's not enough and you you have to wonder if this is kind of a you know signed that hey who's the the the Teamsters that are the drivers. You wonder if this is a sign that that negotiation and that vote that's ongoing right now could be in jeopardy as well. Let me tell you finally says. Finally texted us when you're talking about this earlier saying voting on the UPS contract ends tomorrow October 5. I voted no on the proposed contract not necessarily going to go on strike hoping that they go back the table. Seoul. They that's. I. They'll labor strife continues at the good part is we have a strong economy. That and the artist Zia workers wanna get pay an in look. They have the leverage right now with maybe bread or fertilizer for twenty years we are you going fine 250000. Drivers do you bill and I'll tell you what. You wanna bring the economy had a perfect. YouTube the guys can't fathom what happens to the economy win. 300000 Teamsters strike. Is able friends like I can picture it it's going to be. You're talking that's of the can have a dramatic impact on gross demand that grow GDP gross domestic practice restaurants. Folks I know that many of you listen to our show are retired or nearing retirement age if you don't have a sound financial plan to allow you to enjoy retirement. You need to get our brand new guide and how to develop a retirement income strategy to guide will help understand. All the various ailments that are critically important to your plan instill whatever you saved today. It has the last for the rest of your life and so you're gonna want them money to continue to grow over time even when you start drawing income from. Another consideration is the volatility in the market. We've seen this bull market continue to flourish there have been considerable ups and downs along the way so you need to make sure that your portfolio can handle. Call right now at 800. 3934001. And get your free guide how to develop a retirement income strategy that's 800. 3934001. Or you can also download it right now at Armstrong advisory. Dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. I don't know if I'd called perm a bull horn but in the next segment will be joined by Adam Johnson from bull's eye brief is he bullish this weaker he turned bare majority we're gonna say we're find out. Adam Johnson joins us next in the financial exchange. This news financial news and what it means if you lose it's only right here on the financial exchange with Barry Armstrong and chuck sawdust on the financial exchange radio network. Hi this is very are strong and I know that many view who listened to my show are retired or nearing retirement neat if you don't have a sound financial plan to -- you -- enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date passed the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way AC need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our website Armstrong advisory dot com. Securities are with the securities America incorporated members in as the BC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group and the securities and are two companies are unaffiliated. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called 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 required dizzy Rand technology to Obama called this he ran team at 7816418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi everybody it's very Armstrong in potluck ski from the legal exchange showed dot com we're talking about. Cushing and old guy for the month of October called Medicaid income trusts. Todd I have to confess the average person is not going to know win the trust documents they have are right or wrong. The need to rely on whoever their tourney would be. What should they be looking for when selecting an attorney to draft. And Medicaid income trust or an asset protection trust you know their I think that's the best question ever because you're right they don't know as much as we try to educate them. It's just too hard the language is too technical and and and people aren't gonna know one player and others so when you're looking to hire a lawyer to do this. I think one you should find out if they spend a 100% of their time. To winning est plans via taxes estates trusts you know that's it. If they're busy running their personal injury court they can't keep opera you know it's hard enough for me to keep up. And I do little time. But also make sure on their card when you get their card that you see the letters LLM after their name. That usually means that they have a masters in legal letters and taxation mean certainly need that need to understand taxes when you're drafting trust you do or tell you that from personal experience. And lastly I would say when you leave the meeting you know what you want to have a flat feet. Right when note it's gonna cause you don't wanna be billed you know by the hour for this work exactly and when you leave had a great understanding of what was done you're not asking more questions. Then when you came in. Good advice from Todd let's keep you'd like to copy of their October guide regarding Medicaid income trust you can call them told free. 866. 8485699. Or you get to guide right now. By going to legal exchange showed dot com. Download the guide from their website legal exchange showed dot com or call him tool free at 866848569. To vote on our daily poll question had financial exchange Joseph Johns come while you're there fire of the media player and watch the show while you work. This case the financial exchange radio network. Adam Johnson joins us now from new York and our weekly stock picking segment he's the founder and author of bullseye briefed actionable ideas for thoughtful investors. Adam thanks for joining us they have to go and. They kept very great being with you I love. If there's market I don't we're not rally today that the you know you can't make you hide their leaders their so much like. Right now between earnings and implement so I am pretty good. And disease you know obviously today we're seeing a little bit of a sell off largely on the back of rates move enough. But when he basis points in the span of a couple weeks which you know I don't think anyone was quite seeing this rapid of a move here. It's still relatively common tame by historical. Near measures but if you are higher rates anything that you're concerned about in the long run here. No I'm really not the end you know it's funny after started talking about pirate and yet they comedy that I'm like I'll buy you dinner or. You know hundred there you know whatever. Back in January and I think we're gonna get 3.5. On the I hear that your guys like figure out your mind. And you know here we are you know practically right there. And it is perfectly logical and it absolutely. Makes sense rate could go higher they're still extremely low. By oracle standard in you don't think about it that way OK fine debated. But it rate which is you know getting it back to normal but even with all the rate hikes that we've already seen it is recently and you know. Who won last week. Pick up that but do you know 2.2 5%. Better still basically right in line with inflation rate which is you know like point 25% a real rates are actually hero. Which is still extremely low and up one doctor's. And as a couple things that coupled data points that I've seen in the last couple weeks that have started to get me wondering. If just not so much in the US but if the global picture is weakening a little bit. And whether or not that bodes poorly eventually spilling over to the US number one you had data in South Korea. With their exports down eight point 6% year over year for the month of August. Yeah. Underway right now at. Cabrera Wong and you're not working out and you know they count for like one bit of appropriate export your right. Exactly so you know that's one thing where you know them being such a manufacturing hub I look at that nice say that's kind of interesting. And then also some data that we've gotten in terms of guidance from companies. We have for the first time and I think five or six quarters companies more companies giving negative guidance than positive. In the quarter is that something that worries you at all. Yes and you know and we hear from kind of imminent or if if you look at but the earnings estimate. Sort of in aggregate on a bottom up basis you know you look at every competitor. At a mock it and average EG what you get. We're still going to likely see earnings growth for the quarter that you know will be reported starting next week of at least 20%. Three consecutive quarters. You know but 20% earnings growth are now part of that it from tax cut that the word I'm saying that. You know we won't see you next year. But you know we're all looking l.'s growth. Of nine and percent. But again you know in aggregate Padilla and 500. Really strong you know top line growth of 10% so. Yes I hear you on. That would be the guidance that is part of the attack but in aggregate it's still pretty strong. Adam one of the concerns that's out there that a lot of people bring up that I don't really have. Is is mid term elections were no little over four weeks out from mid term elections. And we get questions via text into our show on a regular basis hey if this happens will be bad and if that happens will be bad. My view generally tends to be on this regardless of what happens in mid term elections. It doesn't change the fact the tax reform Ari went through it doesn't change the unemployment picture in the United States. And so even though you may have one or more houses potentially changing hands the underlying policies are really being shifted at all even if you see that happen. What's your field. So yes you're absolutely right on everything just said and and I did not run the numbers might stop and permanently. President Clinton to industry or I wouldn't have believed what I'm about telling our if you go back in 1950. The fourth quarter. Well election of mid term election years. Typically return. Seven point 8%. Expect to re kind of more than not mid term years and they will. How could that be in it by the way it doesn't matter who wins or whether how let. Or the senate put it doesn't matter what happens. Is that what you can't mid term elections. You can begin the countdown clock pretty actual black presidential election. And the Europeans at the incumbent party. Pulled out all the top in order to pay him power by the way that you are or to hear about tax cut 2.0 right so that's why. Once you get through mid term elections. The fourth quarter. Ultimate collection here again you see an average return for the F and 507. Point 8% which is. Three times higher than not midterm election year so that. Actually you know in spite of all the creepy Edward protection reasons people. Very good Adam we've got to run but thanks for joining us and we'll talk to next week. Good report. That is Adam Johnson from bulls I've briefed dot com and new bull's eye picks post every Sunday morning in you can sign up at bull's eye brief dot com. Based on what you look at for hole in IIU's 538 today and look at their data quite a bit and is it. Still look as if the Democrats take the house and the Republicans take the senate. It looks like that's the most likely scenario now I've been kind of up in the air until the last weaker so just as we are so far out that. You know we've we've seen so much polling and you know August and July that turns out to be complete garbage and and not really useful now or four weeks away you get within four to five weeks you start seeing things solidify a little bit. If I were betting right now unfortunately I don't bet on the stuff because a measly wrong on it by the way. Me too if if I were a betting man on this season I would say the house goes Democrat. The senate stays Republican and how to would that impact stocks. I don't think it changes things and all that and I think it's it's a net net neutral when it's all said and on all systems go I don't think you change a thing. The Dow is down 217. Points a Russell's off thirteen points crude oil down 94 cents a barrel. At 7547. Gold is up six dollars in sales. At twelve gold nine silver. A little bit but take a look at the ten year treasury possesses what has chock a little bit perplexed. Ten year treasury now he's three point 18%. How hide his ago before you really start. 3434. Makes you nervous eye on the gets much above that in the near term. For the next five years really you know 34. Write that down on the production Harold Goodwin. Will be back with more on the financial exchange when we come back we're talking about mortgage fraud. And what to do with the little gift cards you can do it. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. That's 8776917900. Or visit leader bank dot com member FDIC's equal housing lender. And MLS number 449250. Subject to credit approval leader bank a step ahead do you think you have enough money to last for your retirement. Think hard because if you don't the Armstrong advisory group has a brand new guide of this month called how to develop a retirement income strategy. Did yours today by calling 803934001. Or downloaded right now on our website Armstrong advisory dot com securities are for the securities America incorporated member been Ressa PC and advisory services are produced series America advisors incorporated Barry Armstrong represented a Armstrong advisory group in the securities America companies are unaffiliated. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting -- into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing home it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income Malia read the global trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's yours for free. Eight by calling 866848569. Iron at 866845699. Don't delay did your guide today at 8668485699. Or downloaded right now from our 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 own line rent collection product called zebra and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology tell them the cold as he ran team at 781 at 6418691. That 7816418691. Or visit C Rand dot net stopped chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 781641869178164. Being income while you're in retirement you worked all your life and you've accumulated money in your higher raise your rock fiery Ager forward Kaczur for a three vis your pension plans all that money you've accumulated it then retired you say well gee I need 3000 dollars a month I need to design and develop income from my portfolio how does one do that in today's market shock when interest rates are so low. Well it really is a challenge because you don't have the fixed income options that we used to CDs bonds that were yielding 567%. That does not here anymore and wanted to take our treasuries like 310. In one of the real challenges I think is being able to keep up with inflation if you're an instruments that are always yielding two or 3% and so the conventional wisdom is hey you take your rates attractive from a hundred and that's how much equity exposure you should have I don't know that necessarily holds true for everyone today simply because if -- in a portfolio that sixty or 70% bonds I think you might struggle with keeping up with inflation over the next couple decades what about factoring in what you're living expenses are how does one do that yet to make sure the have a budget put together before handed figuring out what you actually need and what your retirement looks like -- a big thing that you need to figure out Ari can move to lower cost of living area there's certain expenses that falloff. Those are things that go into the. Whole process folks if you click to receive our October guide its all about generating retirement income from your investment portfolio called whole free 803934001. That's toll free 803934. Zeros or one the October guide will help you understand how to better generate retirement income from your current investment portfolio you can download the guide immediately by visiting Armstrong advisory dot com or call 803934. Zeros or one. Medals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and -- your gold locally we just make sense -- -- -- -- -- and learn more call 8776917900. Or -- leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value -- -- a step -- time for bank the -- you -- liter maximum reward accounts -- 1% cash back with debit purchases and an extra 10% back when -- user -- -- businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn -- call 8776917900. Or -- leader bank dot com minimum to open and -- annual percentage -- ten dollars mass residents only -- -- -- earnings -- subject to change without -- member FTSE -- -- a step ahead. Hi this is very Armstrong and I know that many view who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to -- you do enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date passed the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the -- -- need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Pre can download it right now on our web site Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are. Unaffiliated hi this is very Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about -- rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to attendants -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed. And up today about economic and market trends plus get breaking business news and every day. And now the financial exchange with the very Armstrong and sharks done us. It's one of those wacky days went on one hand we were poor really strong economic data. But then in the same breath we have to talk about why the Dow is down 250. Points hi everybody it's very truck with you here it's a Thursday morning. Strongest. Weekly jobless claims number and on the commoner that's been following this since the 1970s. Never seen a data point. Where we only had 207000. People lose their jobs. Yet those numbers that we've seen in 49 years and a very strong data point here. What's interesting is what's going on in the bond market is causing a little bit of consternation and in stocks in that the ten year US treasury I now have north of 3.2 percent of get a 3.2 one. Explain the significance of that because on one hand truck I listen to that say well that's good. I can now buy ten year treasury that's gonna pay me 320 that's higher than the rate of inflation that that's a good thing he exact. And I think people listening are saying well I go to the bank now on I can get a CD that's been paid me decent you. Which is absolutely true that the downside of higher rates for treasuries which again treasuries you think if they are what we typically refer to as a risk free asset you buy it. And the US government is not going to default on them okay at least that's the assumption generally we don't know kind of I cannot yet the the issue that you end up with is as rates get higher than okay what it does is it also makes people because of how models are constructed for equities it does two things to stock models okay. The first thing is if you get 3.2 percent on a treasury was no risk. You're not gonna buy a stock that gets you 3.2 percent were threats OK so was rates move up. Investors start demanding higher rates of return on equities because they say. Hey if I can get three and a half percent or let's say that eventually sought treasuries go up 7% which won't happen in the next couple it it's not happening. Okay puts it you saw that. Would you go buy a stock that could maybe get you 7% although I remember when my dad retired this had to be in mid 1990s. You could buy thirty year treasuries at like six and a half percent in and in part of the right wouldn't fit in in if you could do that you wouldn't go and buy a stock saying oh I hope we gets me 7% he'd say no I need 15% from that stock in order for to make sense. The other thing this does smell OK if you get higher interest rates. Is it increases what's called the discount rate on future earnings okay. So if you can earn 3.2 percent on treasury today if earnings go up 3% on a company next year to really do when your whole lot needs to be pretty much getting that from a treasury anyways so is this a short lived sell off for equities yours is something we've. You know is this the beginning of the correction that's been threatened for years now you're getting into the big questions here. You know this when historically when we seen rising rates and they're often times not the cause of a sell off moon but they can spark issues. In other parts of the market that end up happening giving example if you go back you remember back in when that wasn't. When was it that MF global went under. Wound. It. That 2011 I think they were part of that they went under because of all the as the Euro zone Deng's great and sacks yeah it was Jon Corzine the Democrat yes so they they went down back in 2011. And the reason that they went down it wasn't the cause you know of necessarily interest rates in and of themselves. But there and a whole bunch European debt their sadness and she pretty much going under is now worth anything now when rates go a couple thousand people start saying gee it's actually not worth anything. And they pretty much had a liquidity crisis. So it can cause these other things I don't know if this is necessarily the start of I'd be hard pressed to say that mom but I do think it's kind of a warning shot that he the next twelve months might not be as good as the last eighteen to twenty foreign market. It's good point mortgage fraud is getting worse as more people lie about their income. To qualify for loans now for the life of me I don't know how you do this and make it quick I I I saw the headline for the story and it said. I remember when you were going for your mortgage they they they called your butt every twenty minutes. It was still important check check in to see if you're still employed. Has there has Mitt tax returns for multiple years pace to. I do but between the time that I apply for the mortgage and finally close last ID give them more pay stubs just to prove that I was still working there and making what I was. So I guess there's the scams now in its online. Where. Online services that will not only generate. Fake. Pace Stubbs but will also answer phone calls and confirm income verbally. All of this for a fee of course. I mean how that easily repelled that that. To me. If if that's criminal cut Howard if you're the person doing it the in this is Lloyds an isolated incidents this financial fraud right you know it how is that not crack down on. While the IVP they're having trouble finding it in catching me the make the they're the story is one of the not based in the US. They're not the the thrusters are over him in that other Italian nation as juicy China but I don't want make disparaging remarks on international conference this this looks morally eastern European. Now it did the biggest jump in mortgage fraud risk was due to income reporting that's up 22%. Annually. Now it's an IQ was back in two out city. Fifteen. And before. Like did you go back fifteen years. Everybody when nobody didn't even have to it was even fraud it's denounced for anything around that they did today to get that better rates they eat they wouldn't even verified they did not go for the nine days the the no income but they got a little wacky and it. I didn't like you can even need to do for any fraud it was just hate tell me what you make I make this. Sure we got it you think you can even have to like prove any that was to get not even get as good rate they'll know to know you wanted to good rate had to commit fraud no there's rhythm the needle loans no income no lasted verification of those fortunately our. It is very surprised to see story like this and need you'd think. That after. The sub prime crisis of 2008 you would think that the financial institutions had their arms around this. They recognize it as a problem that they haven't solved long and in here's a thing so if you're getting a mortgage fraudulently. What you will you you're not helping yourself. You you're not going to be able to pay well and you might go to jail. Both like yep my personal view go to jail you definitely can't hit it at the end and second. Look if you're if you're lying about your income and odds are that you can't afford that mortgage then. It eventually it's gonna catch up with the Tucker Silva do you have uh oh a roar. That contains all you have an drawers Bellamy. Give it roar as the choice of words Hillary you put your gift cards yours I have a gift cards getting away. I didn't get any gift cards of morality if you give national down but I do have a stack of gift cards are might bureau you do or how tall. Now the bureau the stack. All the cover you district cars that haven't used it's that the place where we keep them is called my wife's purse. And it spilled. Just build a little bit about Mikey you get these gift cards maim. And it might be a place where you just you don't Google it's not convenient I haven't all of Garten gift card. I couldn't get rid of that and fast enough well and hope there is a way you can so you can sell these. Uga can sell them on line. I didn't did you know about this I don't know it it's called the Brees at right now all eyes trust him it's like to do listening to home this debt down payment for your house. Right into. Yes so those twelve cards very integrated advertisement for the I couldn't afford to buy a house but where the rays. I was able yeah well the website is called it the app is RAI. SEC. And you go to the I didn't do you go to via give your full report. In U market you you put your gift cards so let's say you've got to Ruth's Chris. I reject out of the rallies that when people say root Ruth's Chris Steve got one of those cards you know why it's called up now. So it was originally the Chris steakhouse in this woman named Ruth bought it but didn't want to completely change the name and became Ruth's Chris Steak House. Well the EU EU goal when you host spec car for sale. Now race takes commissions when you put your cards for sale daughter no raises and take 15% commission fine but it's like found it. You'd exactly as it tight on money but the the whooping it occurred to me. News for guys like you it's a Starbucks got him he should by your Starbucks cards on race. Easier and cheaper who. Is it in play I tucked ID I consider you could I can't bulletins it's it's a market is you know can you sell used ones. And it freeze that wrongs don't. Our series saying we yeah problem that we end up with so let's say someone gives a fifty dollar gift to me we spent 25 of course it generally Q were not going back there but we have this 25 dollars a I've got like. Nineteen dollars remaining in my Macy's card I just don't army is doing more could I ninety dollars and trying to reduce it on line. Could use some things that are actually you know use is not fully fully used I would imagine there's no market often you. Looked like a if the saying. I just think it's and it's it's an innovative idea. And it's rolling in I put this way if if I could buy stock in this cup I would I would consider. By his effort this is gonna to do you think it's a take off. It's gonna struggle with. Initial goal. Up like acceptance and so forth just as well a lot of people don't know about. Once once it goes up I think it'll be pretty consistency I think the buyers I like I'm thinking about it. As any as a consumer right I could just shop on Amos. Right right so why in the heck wouldn't you if you could buy it for ninety cents on the dollar right god by evolved at all. Sure. We got that in my gift cards for 2% right now that it Ella. Southwest Airlines for 3% off that's it got for Christmas right over stock 10% off. Sears is only 6% I mean if they didn't develop some sort of a Alec Q are code. Apple or something aren't your your camera on your phone and scans and give her a makes it super user friendly. And this place in this company can go places that I JC Penney 12% off. Noted that it might be out of business by the time we get the cart split so here's the thing okay doesn't like this and used one so for example. I have a Panera Bread gift card for thirteen dollars and 92 cents that I can it. For and what candidates county you know fifteen is 7% off I mean it's if you look at east but it that's money. It is 7% don't know it's actually that is factoring in the there's different discounts even on the same place. That's interesting sense of the denomination argument. It does yet that's what it bears on but yes I got generic cards 7% off this is accurate to users running down. Obviously you're ready you're all like a wrap this business I'm like just use it for buying that gets it is my point I might just use it for buying stuff the heat is Amazon on he by names are. I would demand note out of stock. No it's too common. But Blake. A museum they don't have any Home Depot ones of those they do but they are only point 4% discount that you see it's gonna be the obscure places. Yet the discounts 4% they're being beat Applebee's probably 25%. Which you Applebee's is just users' addiction it's six point 9%. Is not to say. The pagan. Up naturally be joined by Steve Moore rip talk about NAFTA we talk about the economy. He'll get his thoughts on with the stock market looks like going forward Steve Moore from The Heritage Foundation joins us next on the financial. Have a question for Berrian jock now you can text us at 63566. And take part in the show at any time. Start your text through keyword Barry and join our exclusive club days as the financial exchange radio network. Hi this is very are strong and I know that many view who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to lie you do enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date passed the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way C need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy -- 803934001. Rican download it right now on our web site Armstrong advisory dot com. Securities are with the securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting -- into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income will -- applicable trust that contains the specific language that must be included and more importantly language that must be avoided -- your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. -- 866845699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. Their 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 781862011. 90 hi this is Barry Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which 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 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 Tenet's -- called the Z deposit -- to get started at 7816418691. That's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. The financial exchange. All ordering and and also now in West Palm Beach, Florida check out our website at financial exchange showed Doug come and find the station closest to you. This is the financial exchange radio network. Earlier this week the White House was taking victory lap on the revision of NAFTA. We're joined now by Steve Moore from The Heritage Foundation Steve welcome to show good morning. Port so how significant was the NAFTA 2.0 deal from your perspective. I was really big deal I think ged and you know this is. For those of us were free trader like. You know it's it's. Sigh of relief that we're gonna continue with our. You know basically a free trade agreement between. The three countries are North America or Canada United States and Mexico. It's a better deal the United States I think trump I really disagreed with so what am I told them as such you know when he. Basically talked about double. Being were straight illness and so I'm not up to reserve the option of saying it needed to be approach it need to be modernized. It could it is reflecting got Richard Grant program get a better deal the United States sort sort of the basketball world. Am the big bigger story though is you know. Six months ago there was a real rat. A kind of global trade war. You know that. Because of some truck straight policies. Now we're looking at. You know we ideal match boat ideal Canada we're gonna get a deal with the Europeans were to get a deal looks like we're potentially a Korea they're just dropping like Panama and our house and we'll get there and and that bottom line that you were getting freer trade. Because these countries are reducing their chairs against the United States. So I feel very good about and psychic investors' mutual which what agrees that it. Stock market has been booming. You know we're gonna have a meeting I think in South America. With China. In December maybe. You would eat what do you think tat comes of that is trying to come to the table now that we're dealing doing deals with the rest of the world. Good question and that is the question of the day is you know now that I mean trial of a collector's trop as a lot stronger position today there were three or four months ago when we have these type trade rights or now we're all these countries are wants. You know one of the lessons of history is you don't want a fighter three or four front or you're gonna. Portrait by it would China you wanna isolate China and now we've got our allies doctor folds. You know we're we don't have a fight anymore now that we're gonna look I would Mexico we don't have a silent Germany over you know Korea and Japan option and that allows us to really focus. And China battery China is the bad actor no question about it I mean the trade violations. And abuses that are happening in China are. You know an order of magnitude higher. In terms of the they're. You know they're terse and also they impact on the economy. But yeah that's makes desperate struck and I had a better bargaining position. But whether he's gonna get this deal which I Nader really depends on the Asia and that's hard to protect. It is hard to predict a knee you know you mentioned trade with China I think a lot of it. If stems from not so much trade as it is intellectual property theft art that that seems. I mean I think he could iron out the trade issues pretty quickly. How'd he get through these that the intellectual property theft in what they're doing with their court systems and I mean that with. If it's just criminal with with their behaviors. Well you know they deny that there is stealing our intellectual property that of course they are beat a good example and other support honour not to be Apple's source and and in the China right now Howard won like three or four of them are actually owned by apple blossom they just steal the copyright or not and they are helpful insignia and it put it up and up that door and they say we're apple. Store when in fact it's a Chinese company. Much esteem or not just stealing back the source one little example of a catastrophic goes on in China and it's rampant. And that you know so. Actually have to be a big part of that's because you know we you know allow them the steel ill will more more of what we produce America today is intellectual property is certain drugs or vaccines are computer shop for our music our entertainment our patents or copyrights. All this stuff. When these to be protected and they are completely violated by China and that of course they're gonna have to open up their markets to the United States I mean it's. I talked to see yourself I'd just say it's almost impossible to do business in China today. Allowing you and you do business in there and then they renege on whatever agreement they entered into. Not happen a lot till now makes it in a very difficult. You know their idol but aren't there is no longer exist or they stole the company right out from under rear axle without you know that we you know we started producing a thing over there ever made just Nash in a it took over at you know that it luck charms point. Is you know when he was out of a day or you know are you asserting a trade war China certainly talked about troops try to assert tribal custom years ago and and a large part. He has Steve thank you very much for your time we appreciate it. We wake up at thank you at Steve Moore from The Heritage Foundation. Talking to a city and you know the one of the reasons stocks are selling off chuck in you talked about it earlier with the strength of the dollar. Stephen Larry I've always been big king dollar guys. Well and if you look at what a strong dollar dollars it allows you in any global economy to buy goods that you're importing more cheaply it it certainly does. The question is you know and this is an area where Steve said look at may disagree with the present on this and they disagree I think in terms of hey how should supply chains be oriented you know. In a free market. From a free market perspective which I tend to be as well I tend to agree with Steve on this less tariffs are good yet they're they're better because in the long run it's going to create cheaper goods for. US consumers another problem that we've had the last couple decades. I think largely as it was to stop pain of people now you know that's that's a different there's plenty of wealth in the country the promise we haven't been paying people enough. But I sure changing now listen if you look at labor strife across the country. Not a day goes by where we don't report on nurses or workers at hotels or world. The Teamsters I mean his Teamsters strike could be big that it we don't netware and we're not saying your wrong on strike for the voting ends tomorrow. I'd be real curious to see how those results come Lou probably know those results next week I would imagine now coming up we're going to be talking about the cost of health insurance. Yeah the financial exchanges and live 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 most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting pouring into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new -- told designing the income will -- applicable trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. That's 8668485699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange -- dot com. Hi this is very are strong and I know that many of -- who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to -- you do enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date passed the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way AC need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. -- download it right now on our web -- Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated are. You having problems of the block sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently 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. 862. 1190. Or you can visit them on line. At easy plumbing MA dot com for more information Massa master license number 10183. Again the number is 78186211. Nine no I everybody it's Berrian chuck from the financial exchange you were having a conversation today. Regarding retirement income and chuck it strikes me you know we go to work every day we put money and are 41 K plans typically it's going into. Mutual funds or exchange traded funds that we're using to accumulate wealth. During our working years are high earning years. That whole equation changes once we retire and we hit age 6570. And we say cheap son of a gun I need to take some income from powerful. Yeah it it really does change and specifically war go to Morgan income generation mindset and it's difficult today because if you look at a lot of the ways that people historically did that CDs yielding 5%. Bonds yielding five or 6% her you don't have those tools available anymore seat need to make sure that you're still adapting your portfolio to the new demands of retirement. But you need to make sure that using the right instruments and so that can be a combination of dividend paying stocks it can be equities that you simply think gonna grow and pull little principal off there. As well last in the right mix of bonds they can generate some income as well what about municipal bonds is that something people use. It is of particular fewer in a high income bracket it's something that a lot of people use that we tend to target simply because the tax efficiencies you gain there can be significant if you like it. Copy of our October guide call 803934001. This guide will help you. Design and develop retirement income from your investment portfolio 800. 3934. Zeros or one or can download right now by visiting our strong advisory dot com Armstrong advisory dot com or 800. 3934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. And well. Aaron John can the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. I. Hot water tank that was installed in the past one to two years to help prolong the life of your hot water tank. You need to flushed every twelve to 24 months and replaced and order right every three to five years. According to the manufacturer's instructions. Easy plumbing can help you maintain your hot water heater call today before you run into a much bigger problem. Easy makes it easy call 7818621190. Mass masterly. Since number one no one in the the average cost of employer health coverage offered to workers rose to nearly 20000 dollars for a family plan this year. According to a nurse at noon survey. Tapping years of increases that experts said are chiefly tied to rising prices paid for health services this is being reported. In today's Wall Street Journal. I mean this not causing any business owner I know it's not but I think about the business owner who have let's use Amazon as an example. Amazon's hiring warehouse workers UPS's hiring. Workers. They hire a full time worker at fifteen dollars an hour that's what 30000 dollars a year dip. Then they have to layer in another 20000 dollars for health care cast now some of that gets passed on to the employee. Apparently. The average amount. That the employees are paying for health coverage. Is 5547. Dollars a year and a payment plan or 29%. Total premiums and put that in perspective you're someone who's making thirty grand a year at fifteen dollars an hour. That's 16% of your pay even before taxes even is going to. This is good health insurance and so that's from the worker's standpoint but imagine you're the employer yet 30000 dollars in salary. In you have to add in another fifteen caught that you're in a thousand for health insurance. Then the cost of payroll taxes and everything else. And the it's. Your your talk about our workers sixty grand. This is exactly why Amazon is getting into health care is because it that they're looking at this they're saying look we can't continue to do it is not sustain it's not sustainable and it's you know this one of those things when will we talk about. You know growth in the economy. There's been one of the major reasons for growth in the economy over the last decade the growth of health care. The problem is the kind of cost that results in the spending more now because we want to yeah but because we have to you don't really get anything from it that not true. There's been some pretty big advances in the last decade. In there there have been no in terms of the year you're if you're. Patient paying for health care saved her heart attack cancer whatever. You're just opening get better it's not like you're gonna get better than you were before he had cancer it will no but again bettors still you know better than worse you can only get being able to be on the right side of the grass is kind of an important thing you know it's not we can't really reverse that at this point to. So it's it's it's something that you know we eat it does create a drag on household budgets even as it grows the economy. And that's one of the things that it is is tough to wrap your head around is hey look health care growth is good for the economy and its. For families because they're spending so much on it and it's gonna get markedly worse. It's not you had this aging population the cost curve isn't bending anytime soon now. It's it's not and that's that's why you have Amazon saying look we need to figure something out on this it's why you have CVS buying that's why like why these things are happening. Next headline news US road deaths. Fell in the year 2017 the number of lives lost last year and yes Rhodes was 37133. That's down one point 8% from the previous year. Yes so it's a little bit of positive news after you know we've had this continued increase in deaths over the last decade. He gets distracted driving are people starting to. Text to last snow while they're driving the texting more and there that I don't texting more not just texting. Like they're reading articles they're on FaceBook there you know swiping on Tinder like the do whatever they not doing anything but driving it's it's all we go we are the stats say those track that distracted driving was the cause of eight point 5% the town of fatalities and 2017 to decrease. From nine point 2% 2016. But they acknowledge it's pretty tough to track it's it's really tough to track so what I couldn't be greatly Q could use to check somebody cell phone and see if they are on the phone survey had their accident that given how often late. They don't do first of all it's if you don't necessarily have veto was search warrant to be able to do that if there's no crime that's committee can't say you have to give me your cell phone. And people can also lie about it you know it's it people who have the lie in order to get out of insurance claims and stuff like so. It's. It's it's still is a problem I would be much happier fused at the robots driving a slate just. We usually we had tried this whole human driving experiment and it just stuck this like it it just doesn't. It's right around the corner yet General Motors and Honda looks like the two leaders. In the in better. Going to be coming out in the first wave will Google's label but it they they're coming Allah that this quarter. And something tells me that General Motors is closer than they might be letting Clinton. All I know is the more automation that we give to planes to fly themselves and the safer they get. It's going to be the same with autos look there's still going to be people who die when robust drive us and people are gonna get all up in arms and all I'm not relinquishing control of one drive where I want to while great you can you can do I don't care. Robots are safer than you. While the matter is woody vehicle happens cars will override the human indeed like you say you're about to have an accident. You incarcerate the first stage of this will be car saying well we about to have an act and as well they've they've got that you know the assisted braking if you're not only in your fashion outlet I guess the problem is right now you know it like a big cause of death. Eat eat eat people run over the game gets its hundreds of times a year that's why the and it's has finally as I think it's either next model year the one after that. They're mandating the backup cameras on all new models they have and it's it's nine times out of transcribe them backing out of a two point yeah as he did it's like you know awful Hainan a tricycle and they just they don't. Looker don't see them I hit a dog. Did you really miles dog it's terrible to awful. Not good. Not good folks if you are aware and order property manager I'm sure you've heard me talk about he rants leader banks on line rent collection program I'm excited now. Tell you about the new program Z deposit. It's another free program that streamline the opening of Tenet security deposit accounts the rate totally digital experience. With Z deposit. Landlords can open an account on line. Invite tenants enter their information and then manage all the security deposits in one place. He deposit also automates many of the compliance headaches for landlords such as generating account disclosure forms they'll even send you any interest payments. Directly to the attendance it's easy to get started just called Z deposit team at 7816418691. That 781. 6418691. Or is the monoline at C deposit not bet you see deposit dot net. The deposit is free for everyone so called today and make it that much easier to collect demand security deposits member FDIC leader bank a step. It Delta Airlines announcing free inflight Wi-Fi. For all passengers that is going to be selling feature remember when jetBlue came out. With the TVs in the back of the screens does that twenty years ago fifteen years ago yet when they first started likely nineties early two thousands everybody wanted to fly jetBlue the right did you watch TV. Well it never got free Wi-Fi. JetBlue and delta are going to be only two airlines free Wi-Fi should just who has it now the pressure Aaliyah and there was and again yeah and it was got to now will the American women's American and I never thought that's my airline. Our owner and it's the I've always I've been jetBlue and I've had a couple adult experiences lately also that have me mail I go to places they go to Phoenix that's American and I go to Caribbean that's American. I still don't like the dealt the U still occasionally gets stuck on some of those old MD ninety planes a real narrow one of the engines in the back federal noisy and everything in a pain to get on an awful of but the service in general are found to be really good. From ultimately an on chip chip Lucas to Phoenix. Yeah but their flight times and they go to Caribbean and there on time may be awkward to me is like terrible time for reform maybe get a TV and free Wi-Fi at some last. When we get there when it there what's the difference fifteen minutes. Only enough unity is the Ayers the the I I don't care for him blindly as do I I'd and you get blue chips. And cookies so when when will delta be offering this free if it does not tonight because I'm fine delta tonight no they haven't put an exact timeline on this yet but I would imagine you're talking within the next three to six months and can. Somewhere in that ballpark. Let's see so how many people actually pay America's estate tax the answer. 5219. Families pay the state. CN not not very many and that was on the old estate tax which was at five point five million dollars that was the exemption. Now the first eleven point 18 million dollars in assets 22 million for couples is exempt from the tax and so. It's likely if you load it and estimate that the Tax Policy Center put together. They estimate that. Only about 17100. Estates would owe taxes following the passage of the new state tax so it's another reason to go to that. The value added tax or fair tax some simplification of the code right. He released it. You know the problems with the bat. Branding. That just sounds bad it's like no the money's going into the back. Leg it just sounds like his big pool of money that everyone has their fingers in which kind of what it is yeah but it just it sounds bad and that is so it's all marketing its branding of poor branding they need to get you know the guys the people would just do all of TJX's new commercial skip them in charge of that. Apple confirms that iphones have the series prop I noticed this today I'll hold on we're really that hey there's a big problem iphones that's next on an exchange. We have part of the financial exchange in an instant by texting and 63566. Started to extra keyword battery and become a member of our brand new text club tell us what you think 24 sevenths right here on the financial exchange radio network. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting pouring into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new god -- designing the income only around a -- trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 866848569. Million that's 8668485699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed dot com. Hi this is Barry Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which 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 their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to attendance disk called the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank a step ahead. Are you having problems the block 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 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 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 78186. To 1190s that 7818621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Hi this is very are strong and I know that many -- -- who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to lie you do enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date has to last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way C need to make sure your portfolio can handle that call me right now at 803934001. -- get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our website Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities American companies are unaffiliated. Security suffered two securities America team members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are. Unaffiliated business news is constantly break and we are here who break it down and show what it means to your portfolio it's the financial exchange with Barry Armstrong and jugs not a on the financial exchange radio network. You have an iPhone. He better be aware. That's a problem with the iPhone and you've actually experienced I notice this this morning actually so with the the latest IOS update occasionally if you put your phone and charges. But didn't have the screen on. It might not charge it would give you an error message saying he would turn the screen on an ordered charges might she did it. Charged just fine but they're releasing an update today called IOS two point or twelve point one. And that is going. That you end up taking care of this issue that was present have you guys actually experience to do this morning I have not no I I happen I did this morning for the first time I updated a couple weeks back when they released it yeah I did to me today was the first Thomas on. Otis yeah. Media happening just the numbers could be so was there like an error message urges splattered him charge notably there's there's a message that popped up that said please turn your phone on in order to be you know comedy successors. And once it turns green on it was. Fine but if I hadn't you know looked down in China notice yeah exactly. Whipped at what percentages the domestic market does apple 5055%. Estimate. That we over fifty. No oil is in its rate and a bottomless. I thought it was between android in and out. News is that if apple. Is about 4344. Dollars. Now so let's. Android is about 5354. And there's still a couple people using either Blackberry or Microsoft rooms forum. Looks like maybe like one also has a full when the market know they have old phones that the problems to civilian. Do know one point if just go back five years by the way just to show how much things have changed. Five years ago Blackberry still had 15% of the Smartphone market. He had eight today I tell you what they were. They had a cool fall there the first one. Backe before each year I used to have a lot of everyone on Wall Street was walking around them on people had to because it was all secure or never thing you know your network from multiple these to call the crack Berry prayer as you walked in to a meeting. Rated business media. In everybody would be looking down the couple does look like everybody was praying. But it was just responding to emails rather eat you know it's been that is the one thing that I do I do stillness somewhat is actually having a physical. Physical keyboard dollars and you know it's just is like you don't have to be looking at it or something like that made less mistakes now you certainly would. Barnes & Noble evaluates a possible sale and for the life of me chuck I can't imagine who's gonna by the stark. Yeah I'm not really sure either the last time either when he entered Barnes & Noble. Was Austin and into books. Bookstore I'm going into a bookstore you know kind of bookstore went into Barnes & Noble Amazon. Amazon has a bookstore and near my house when he did pretty good movies that you just up and go back to. I actually went into a great one when I was on vacations here it was a rare bookstore though all of those are the funny at all kind historical boss some of the stuff that. They had a great but there's this great two books that that it was the first edition of Huck Finn and and then it was also the first edition was published in the UK at the same time that wasn't called how can I forget what it was actually call. But they would they are selling both of course like four grand so it wasn't exactly them. It and in return you guys on to a bookstore. That. He's here if you want to do the drive he used or Norwich University is mount Vermont and a yep. In Norwich term of Vermont for Stewart about a half hours after you hear this you might. In Norwich Vermont IE that the downtown is one block. There's a restaurant Erica. NBA store in the bookstores now and the it's an old military. Bookstore Barca and you can buy right across the river from Dartmouth College so we used to go over their all time you do it a reason why would you go to nor it was half a mile away but why does a great convenience store slash restaurant there Dan and wins the security that are going out. I I dealers in Iowa does as watcher my son play hockey team and you'd you know he'd leave. Graduate go to work school of Burlington Vermont same likes saint Mike's side so he plays him bikes and drive down and which to complete the earth where they get smoked. And death. And and so you know you have like 45 hours to kill challenges bookstore military historical books I was able to buy. Each has seen the books that were being written about Hitler. In late the late 1930s. In the US are in Germany. The ones I replied I was buying were actually written in the UK. Oh and in and day. That you could buy books on. That were written in the 1941. Tom about the wife and assess and he is just it really it is you wanna make the drive I. I hope there's still business I've been there ten years. But boy it was really a nice for the whole time and on May actually be up that way in about three or four weeks is worth a try pomp and if you if you have you know half an hour. Check to make sure is still open. But it back to Barnes & Noble gas. Yeah like I know the stocks up 21% percent like that today that the life of me I really don't see the future bookstores in. No not not really it's it's just something that you this the selling of books has become c'mon at up to monetized which to be honest is a little bit sad because you do find some of those great stores we have some news useful where you say you're somewhat different. Here's the exact. The old bookstores right I like the old books historical books that you buy in new book like I. I knew exactly what I wanted to buy last night yeah went on line and I bought you know cute it was easy. Hey we need did mention this last story Verizon is offering severance. To 44000. Employees it's pretty good package and I think you're gonna see the majority of the 44000 except the package. The at sixty weeks pay. And they get a subsidy on their health insurance between now and when they turn 65 if they take the pack. Yen is gonna amount to well little bit north of it a quarter of the carrier's workforce out of their 153000. Employees at 44000. Are going to end up getting this off pursuits of big chunk of their workforce that the trying to entice to retire largely helped me and if you're one of those workers. You're looking at insane Jia gonna get paid for over a year. Pretty Chancy and B of finding job in that period to so that the workers there in their fifties. Oh yeah I mean we we've seen these offers to let people in the forties and fifties and they say. Why not the. Yeah. Well thanks for tuning into the financial exchange today I wish I had better news very on stocks the Dow is down 228. Points to go up forever. Crude was down 89 cents a barrel at 7552. And the ten year treasuries at 320 that's what's got struck just a little bit spooked. We'll see tomorrow right here on the financial team.